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Honda Ridgeline Lease Questions



  • Could it be your credit score that is driving up the money factor? I was offered the same RTS as you for $333 for 36 mos, this is with just the first payment due at signing, all the fees are rolled into the loan, the 42 mo should be even cheaper. The MF should be .0004 for 36 but my dealer is quoting .0005 w/o a sec deposit up front. This deal should be good til Jan 3 I think.
  • Yes, 1bigdawgfan, Honda Finance's residual values for the Ridgeline vary by model. The .00040 money factor that you have seen is correct for a 2006 Ridgeline leased through Honda Finance in November for consumers who qualify for its top credit tier and pay a security deposit. The dealer that you spoke with quoted you the correct factor for a Ridgeline leased right now with the security deposit waived.

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  • Hi chilly4. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    You really need to know the full MSRP and selling price of the Ridgeline that you are interested in to be able to tell how good a deal you are getting on it. If you tell me these numbers, I will give you my opinion on the price that you are being given and can use Honda Finance's actual lease program to estimate what your monthly payment should be.

    It is very possible that Honda Finance does not allow the residualization of dealer installed options. If that is the case, then any that you have added to your truck would have to be paid for in full over the course of your lease.

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  • Hello dblasi. I believe that Honda Finance's Leadership Purchase plan is another name for a balloon note program. Balloon notes are very similar to leases in that they provide consumers with lower monthly payments than a traditional loan would and give them the option to purchase their vehicle at the end of a specific period of time. The main difference with balloon notes and leases is that with leases the bank's name is on your vehicle's title, while with balloon notes yours is. In a few states, balloon notes are popular because the way that the tax laws work consumers have to pay less sales tax on them than leases. Still, overall balloon notes are much less popular than leases. Like with leases and regular finance contracts, the selling prices of vehicles that consumers get balloon notes on are negotiable.

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  • Europ91, Honda now has a 2WD Pilot, but there is no 2WD Ridgeline. Perhaps oldjoe is mixing these two trucks up. By "TV lease" I suspect that he meant that he saw a television advertisement that mentioned a lease payment.

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  • hrthrt Posts: 1
    Ok car man, I'm ready for your advice---Looking to own Ridgeline eventually---Qualify for Hondas best finance programs. Lease quote for RTL/navi/moonroof w/options ($6,316)---$37,529 cap. cost--31,213 s/p--35,190 msrp--residual 3/36/12k miles is $19,706.Payment quoted @$540mo. plus tax.Money factor is .0050 w/no security deposit and drive off of $1,035. How do I improve this deal? Seems options really run up pmt.--Thanks for your help
  • Thanks for all the posts. They were great information for making sure I was getting a good deal on my new Ridgeline. With a little back and fourth with the dealer, drove away with my new Amazon green RTL (no moonroof or navigation) for $316 per month on 42 mo lease. 15K miles. Selling price of $29,800. Drive off was just under 1,500. money factor at .0004

    I have seen a few deals here a bit lower, but happy with what I got. 33K car for just over 300 a month.
  • I just got an offer on an RTL with an MSRP 32K (they used this figure to calculate payments monthly payments) with a money factor of .0005, $200 out the door with a payment of $355 (before tax) on a 42 month 12k miles. The residual value is $17301 (54%). I asked about a purchase price and was offered $28,877 (invoice price). My credit is excellent (although they didn't check it).

    Using the 54% residual value and the lower purchase price of $28,877 I get a monthly payment of about $324 (I didn't include the money factor because I'm not sure what it means), not the $355. I am seeing deals for 15K miles for less. What is the best way to proceed?
  • 2235022350 Posts: 3

    this is where i am at:

    there is a Honda Ridgeline RTL. the car suggested reatail was approx. 32500. i explained that i didn't want to pay more than the 27800 listed on cars direct.

    I have 4000 dollars left in payments on my jaguar.

    the offer that they have made is:

    42 month lease with 2000 dollars down, rolling in my remaining payments on the jaguar, for a total of 366 a month (no tax)

    i am not sure if this is a good deal.

    not sure what the residual is, but will check

    Car_Man?? Help
  • 2235022350 Posts: 3
    it turns out they are selling me the RTL for 28900.

    money factor of .00055

    residual of 54% at 17301

    4000 rolled in

    2000 down

    total 366 a month + tax =396 total

    sounds good
  • 2235022350 Posts: 3
    strange, with the same calculation and an extra 2000 bucks thrown into the mix. they are quoting 366. sounds like your dealer is switching.
  • Welcome hrt. The lease money factor that you were quoted for this truck is right in line with Honda Finance's factor for consumers who qualify for its top credit tier and opt to have their security deposit waived. Something is not right about the prices that you mentioned though. The capitalized cost that you mentioned, $37,529, is higher than the MSRP that you mentioned $35,190. This is not possible unless you are rolling negative equity into this deal, which you are not. I think that the MSRP that you posted is off. If you let me know the correct numbers, I would be happy to estimate what your lease payment should be for you. Since the dealer that you are working with is using the correct lease money factor, the only profit center on this deal is the truck's selling price. The lower the selling price that you are able to negotiate is, the lower your lease payment will be and I am sure that dealers will be more than willing to negotiate on the Ridgeline. It hasn't been as well received by the public as Honda had hoped.

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  • Congratulations on your new truck, northsea. Thanks for taking the time to let us all know how everything turned out. Enjoy!

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  • Hi sparky11. It is very important that you understand exactly how leasing works and what terms like "money factor" mean prior to negotiating a lease with dealers. You definitely should check out the following informative articles that are available here at prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    The best way for you to get a good deal on this truck is to negotiate as low a selling price as possible and then to have the dealer that you are working with calculate your lease payment using Honda Finance's buy rate lease money factor of .00040.

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  • Hi 22350. Honda Finance's current buy rate lease money factor for consumers who lease a 2006 Honda Ridgeline, qualify for its top credit tier, and pay a security deposit is .00040. Make sure that the dealer that you are working with uses that factor to calculate your truck's lease payment. I just worked up a lease payment on this truck for you and according to my calculations, if you were to lease a 2006 Honda Ridgeline RT-L with an MSRP of $32,500 and a capitalized cost of $30,900 ($28,900 selling price + $2,000 in negative equity) through Honda Finance right now for 42 months with 12,000 miles per year, your pre-tax lease payment should be around $338. As you can see, this is a little lower than the payment that you were quoted. Make sure that they drop your payment or shop around.

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  • Tonight I drove an RTL. I was quoted a lease price for an RT. 42 months, 15k miles for $311 out the door, zero down. I an not sure(didn't ask)about the finance rate or residual. The figure came using the MSRP of $28,250. Can I get into the RTL for around $330? Also I think he mentioned the residual at around 60%. Please advise, ready to pull trigger...
  • 60% residual seems extremely high for $330 a month. MSRP is only used for the residual value. If you are leasing, see what number you have listed as the Gross Capital Cost. This is how much you are paying for the car (before taxes and before the money factor is worked in). With 0.0004 money factor, the equivalent interest rate is 0.96 % APR. Negotiate the best selling price. The residual for the RTL should be 54% of the MSRP (sticker price). If the gross capital cost give the dealer a 5% profit over what it cost them for the car, then you've got a fair deal.
  • what am i missing??
    went to lease calc. put in the numbers
    .0004 30,250 210. at signing 54% res value 5%tax
    36 mos 15k/yr
    pmt comes up 436. dealer quote is 370. ???
    this cant be right - can it??
    couldnt change security deposit to zero on calc- it kept putting in 450.
    dealer quote includes gap ins. bank fee + sales tax
    they said i have to pay excise tax on my own??
  • my numbers were off!
    now it within a couple of bucks.
    so i guess the big question now is is this a good deal?
    RTL - no add ons
    29,165 + 595 aquisition fee
    50 factor (no security deposit) (if i want to put down 400 it goes to 40
    17942 res value (56%)
    36 mos 15k miles
    Good Deal ??
  • Put deposit on a stock RTL tonight. Leased it for 42 months @ 15k per year. I paid invoice, zero down, no security etc.. $370 a month, not bad until I put the tow package into play. They want 19$ per month on the tow pkg. Should I tell 'em forget it and put on an after market pkg. Please advise as I am confused as to how certain options are included. For that price( 19$ per month, which was lower than two others)I should take the hitch and wires at the end of the lease... Anyway, I wanted to know if my deal was good and how to handle the towing end of it thanks, scot
  • I was told that all the add on options you pay 100% of over YOUR lease period. I calculated the tow package and it ran 600+ over my 3 year lease. suggest you google "tow hitch" and a number of sites will come up where you can order (or go local truck/auto performance store) (or call local cap/cover store, they install cheap) (most hitches are "NO DRILL" installation and i have done a few over the years...pretty simple) If you need power for trailor lights you need a harness too. Hitch on line was about 144. harness was 88. ++ship . local cap guy will do both installed for 369.
    If you r lookin for a cover check out access cover (google it) Same cap guy will install for 480. Hope this helps, seems to me that after market is the best way to go with leases!
  • Hi, Thank god i found this forum! I have never leased before and i'm a little nervous. my local dealer has the ridgeline rt advertised for $159 month with $2995 down for 42 months which includes tax title reg and i think the fee. It looks like a good deal. What should I look out for? Thanks
  • Hi, Thank god i found this forum! I have never leased before and i'm a little nervous. my local dealer has the ridgeline rt advertised for $159 month with $2995 down for 42 months which includes tax title reg and i think the fee. It looks like a good deal. What should I look out for? Thanks
  • galvanggalvang Posts: 156
    Add ons really screw up the leases. The dealers take advantage of this. Overall, I was pretty happy on the deal they gave me but you need to stay on top them. Add on accesories were a major hurdle in closing this lease.

    You should not pay for the full purchase amount of add ons during the lease of the RL. The customer does not own them and returns them back to Honda after the lease.

    Honda finance has a list that shows how much the dealer has to add for the total residual on the add on accessories. By using these numbers the lease should only increase by a few dollars a month for each accessory. ;)

    So think about this if a trailer hitch cost $500 and the dealer wants to charge $19 more per month for a 42 month lease. That means that the customer will pay more 900 dollars and he doesn,t even keep it. He returns it back. What a sham. :mad:
  • ok the deal was only for one rt the "ad car"for just one rt to get people to come in. I could have had this deal but walked out yesterday not knowing that it was only for one rt. I went back today to get this deal and somebody jumped on the last rt seconds before me. Was going to walk out today, but because they want to move units and have many RTS' I got one for 3048 down including tags fees ect. and 220 mo 12k yr .20mi over. i was told by many people that this is the best possible deal going. I pick it up monday unless i change my mind. Thanks
  • Is this enough information:

    to tell me if this is a good deal. RTL with moon roof navi, no add ons, 15k miles. Dealer said price was invoice. Dealer is paying off (rolling in) my current lease $300x6 months to go. $469 for 36 months including tax at 6 1/2 percent, 0 down is the deal. Is this a decent deal in Cleveland, OH
    . Thanks.
  • craigmricraigmri Posts: 243
    Having never leased before I have a ton of questions. Please help!!

    1) Honda is advertising a RT lease for $279/mo with $1500 down(which includes first payment, deposit, aquisition fee and something else. This is based off a sales price of $28, 500-ish. If I negotiate an RTL with moonroof for $29115 can I expect my payment to be a little higher? Maybe $300-ish? Or is the $29115 deal I'm looking at based on the $1000 factory to dealer incentive that would not be eligable on the lease offer?

    2) I have a trade-in that has no lein. How does this value get applied? Do dealers cut you a check or does the trade-in value get applied to payments in advance?

  • Very good leasing education information can be found at I recommend reading it before entering into any lease.

    I obtained a lease quote on a RTL w SR (no options) yesterday of $419 for 36 mo (15K miles. It seems quite high so I will continue to shop around.

    Also, a glitch. In Texas all sales tax on a vehicle must be paid as part of the initial drive-out cost rather than included in the monthly payments which may account for some of the differences in costs quoted
  • The Ridgeline lease in lay mans terms, there are three models, RT, RTS and RTL. The difference in monthly lease payments between is approximately 20$( get the RTL) Payments are based on credit tier: super-preferred(you have been perfect), preferred(it's life and it happens) and everybody else. About 35$ diffrence between tiers on monthly basis. Lease mileage yearly is 12K, (buy up to 15K at .10 a mile ahead of term which is more realistic and is cheaper than paying .20 a mile after term over.) Never pay anything down except first month and title registration. DO NOT BUY ADD ONS FROM DEALER, overpriced and you dont get to keep after term over. Example: 06 RTL 42 months 15K miles year in preferred credit tier, should cost 370-373 per month. (NOt 408$ Thanks Stephen Vincel Honda, benefit from my hindsight!)
  • I don't think it's a good idea to lease the a car and have your existing lease rolled in. The Ridgeline is leased at dealer invoice by but you still owe 1800 on your current lease. This means you will be leasing the Ridgeline for 1800 over invoice. $469 for 36 months seems to high.
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