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'06 Ridgeline RT buy for 25,477; lease for $299 mo.+tax& license, 36mo lease; $958 drive off cost, no securtiy deposit; 12k miles per year.
are there lease fees that can be added to this?
is this a good or great deal?
That's awesome - the deal you got anyway.
It's always amaizing to me that you can show up at the dealer, but if you don't have the ad in hand they play dumb and try to see if they can pull one over on you.
What dealer did you end up at?
Can you provide detail for drive off costs and residual?
thanks,
RTL - MSRP=$32040, Selling Price=$28152, Residual=55%, MF=.00057, 12,000 miles per year, no down payment (dealer mothly payment=$398)
RTL w/moonroof - MSRP=$33190, Selling Price=$29152, Residual=53%, MF=.00057, 12,000 miles per year, no down payment (dealer monthly payment=$429)
RTL w/Nav - MSRP=$35190, Selling Price=$30889, Residual=52%, MF=.00057, 12,000 miles per year, no down payment (dealer monthly payment=$455)
Thanks for your help...anybody (Car_man you looking?).
I used the same numbers as your RTL plus
"Costs added to lease: $2655"
This includes $1760 sales tax for Texas (6.25% of $28152) plus $895 for security deposit and acquisition fee. The $895 came from the lease deal on Honda's web site:
$2193 due at signing - $999 cap reduction - $299 first payment = $895 security deposit and acquisition fee.
With these numbers I got $393.85/month. The same numbers in the Edmunds calculator gives me $353.56/month. Maybe someone can explain the difference.
1. (Net Cap Cost - Residual)/Lease Term. In the case of your RTL the numbers would be ($28152+$595 (acq fee) - $17,622)/36 = $309.03. The $17,622 is the msrp x 55%.
2. (Net cap cost + residual) x money factor. For the RTL the numbers would be ($28,152+$595 + $17,622) x .00057 = $26.43.
3. The final component is sales tax. I'll assume 6%. Add the first two components and multiply by the sales tax rate. In this case ($309.03 + $26.43)x .06 = $20.13.
So I come up with a monthly payment of $355.59 for your RTL with a MSRP of $32,040.
One question for you - did they tell you what the money factor would be if you didn't put down a security deposit?
I hope this helps.
Car_man
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Car_man
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Saturday I went to my local Honda Dealer in Atlanta (nearby) and they showed me the following lease:
1) 2193 due at signing.
2) 299 a month + tax.
3) only on the RT.
4) 36 mos.
:shades:
Guess what I drove off the lot.
Based on the below, what would my payment be with Honda at Tier II credit level?
"According to my calculations if you were to lease a 2006 Honda Ridgeline RT-L without the moonroof or navigation options with an MSRP of $32,040 and a selling price of $28,152 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $314."
Looking to get a Green one now or before 4/27/06.......
MSRP 33530
Sales Price 31412
Residual 52% of MSRP
No money down, 12K mls/yr, $487-519/mo. depending on the credit tier
Lease Factor .00115
There are 5 dealers within an hours drive, one (not this one) from which we've bought from in the past. While I prefer the convenience of this local dealer, I plan on using the others against them in negotiations.
Can anyone give the FICO scores range for ea. credit tier?
Thanks
I am sold on the truck! Would like the RT-L/SR/NAV model or the RTL model. I want to lease.
But, the dealer quoted:
RT-L/SR/NAV $450 pmt with $2,100 for 12K/36mo and
RT-L $347 pmt with 2100 for 12K/36mo--THis one seems right from the Internet Honda.com offer--scaled to RT-L
Yet to confront the dealer with the prices from msg#163
Are the #163 prices($314, $344, $373 with $0 down) still valid for April?
Your advice on moving the dealer my way?
Thank You
Ref msg #163:
"I;d be happy to work up some lease payments for you, drywblanchard. According to my calculations if you were to lease a 2006 Honda Ridgeline RT-L without the moonroof or navigation options with an MSRP of $32,040 and a selling price of $28,152 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $314. The payment for an otherwise identical lease of a Ridgeline RT-L with a moonroof with an MSRP of $33,190 and a selling price of $29,152 should be around $344. Lastly, the payment for an '06 Ridgeline RT-L with navigation with an MSRP of $35,190 and a selling price of $30,889 should be around $373.
Car_man
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If I can't work something out with them, I'm going to Darrell Waltrip in Franklin on Friday. They're "supposed" to get the one I want in this weekend. We've bought from them before, so I'm hoping to have better luck.
Some assistance from anyone knowledgeable in this area would be appreciated. Thanks!
1000 due at signing (plus first month and taxes for a total of $1362, we have a 6% sales tax in Indiana)
285.82 per month (plus tax so really about 303)
thats it, security deposit was waived, mud flaps were thrown in.
This is on the 06 Ridgeline RT model of course. The national honda deal was the basis for this but 3 dealers that I talked to via email were willing to work it down even futhur. One dealer which is an hour and a half drive from me was willing to do the same deal as above with a $3/month lower payment. The $3/month (around 100 total over the term of the lease) wasn't worth the drive and hassle to me.
If you are able to buy before May 1st you should be able to negotiate yourselves down to this price too. BTW, I pulled this off in one day via email. The web sure makes this car buying/leasing much easier. 10 hours after I sent my first emails to the dealers, I met my local dealers sales guy face to face for the first time with the best deal I've seen yet already negotiated.
A nice kicker to this, I stopped in today to pick the truck up for a long test drive. The salesman asked if I wanted them to look at my jeep while I was test driving to see what they could give me on trade. Mind you the deal was already negotiated....I said, well I'm planning on selling it on my own because I'll get alot more, but hey why not. When I returned the ridgeline tonight the sales guy told me what they'd give me for it. It was about $1000 higher than kelley bluebook and actually equal to what I was willing to take for it if I sold it on my own. So now I will be picking up the ridgeline in a couple days AND unloading my jeep with no hassle of advertising and showing it to people. This is not a demo model or anything...had 3 miles on it before I put about 30 more on it test driving.
Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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I get the lowest MF but chose to keep the sec deposit of $400 now and give them a slightly higher MF(0.00052. That comes out to $180 more for AHFC over 36mo.
My main question was should the selling price in 43240 be way under the invoice or not?
Thanks
What are the May lease figures (Residual, MF) for:
= RT-L with and without moonroof
= 36 mos.
= 15K/year
= Tier 1 super duper credit
= No sec. deposit.
Dealer quoted me something like .0027 today or something like that on the MF... to which I said... "holy MF!"
That sounds spendy... and the residual wasn't great either.
I thought Honda wanted to move these trucks?
Thanks!
Honda appears to have a 2000 incentive on the Ridgeline now. Do you know if it applies if you are leasing?
Thanks, Steve
I have only 2 payments left on my Pilot lease so I am starting to do my homework to prepare for my next vehicle.
Can you please give me the money factor and residual on a 3 year 45K mile lease of a Ridgeline RTL with and without sunroof?
Thanks for your help.
Tim
The situation is this...
Trade In - 2004 Chevy Avalanche - Pay Off of $24,000 Trade in offer of $27,600. Therefore cap reduction of $3,600.
Leasing 2006 Ridgeline RTL-SR with the following add ons...Bed cover, roof rack, mud flaps
The total retail of the truck is $36,000 and change. They are offering to give me the $2000 dealer incentive and I feel I can get them down another $1-1.5K on the retail for an estimated selling price of $32,500. They are playing the game of inflating my TI allowance and working off retail on their truck. Final price $28,900.
Could someone please help me with what I should be leasing this truck for (24 & 36 months)? I will qualify for their top tier of financing (credit score above 750) and do not intend to pay a security deposit.
Does anything stand out as a rip off in the above situation?
Thanks!
Thanks!
At least there was constant activity and it was easy to search for recent similar vehicle questions.
Much nicer when you could ask for the G35 numbers right after someone asked for TL numbers and get all your info in the next few posts!
I know it happened a while ago but this new lease board format is LAME. :mad:
Going to look at a Tundra today!
Car_man
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Car_man
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Car_man
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Let's estimate what your lease payment should be for the truck that you are interested in. According to my calculations, if you were to lease an '06 Honda Ridgeline RT-L with a sunroof with an MSRP of $36,000 and a selling price of $32,500 through Honda Finance right now for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around a whopping $676. The payment for an otherwise identical 36 month lease would drop to a more reasonable, yet still high $530. If you were to make a $3,600 cap cost reduction, these payments would drop to $513 and $421.
Car_man
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Any changes?
Anyone know historically how Honda incentives run? Ex: Better lease rates early in the model year and then more cash back incentives later in the year?
I know the domestics always have incentives, is this true for Honda as well or are there times there are none?
Thanks!
Car_man
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As far as this model's incentives go, Honda is currently providing $2,000 dealer cash on the 2006 Ridgeline, but it doesn't have any support on the 2007 model yet. I suspect that Honda will introduce a special lease program on the '07 model within the next couple of months and dealer cash on it later on in the model year.
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It seems to me that the subsidized rate is better in many cases... agree?
Can you run a scenario using the money factor from April with $0 support (say for... an RT-L w/out sunroof for 36 months/15K per... $500 over invoice) vs. the May $2,000 dealer cash (same car, same terms, now $1500 under invoice).
It seems like the payment will be less with the lower MF.
Thanks.
$1200.00 below invoice or $26,421
36 months and 15K per year
Monthly lease of 450.38 with a drive off of 668.38
Does that sound like a good deal? I have never leased before so I need some help
I am trying to find the numbers for a 3 year 15K mile a year lease on an '06 Ridgeline RTL w/SR.
Any help would be greatly appreciated.
Thanks.
Here in NYC area this is what i came up with:
RTL SRoof 12K 36 mos. PLUS tournea cover, running boards and roof rack. (these options were approx $2600 dollars, negotiated price and about 800 of that was residualized. this is approx.)
The upfront costs consisted of the usuals
Dealer 1: 2700 in upfront costs, 475 /mos including tax
Dealer 2: 3000 upfront 499/mos incl tax
(interestingly this dealer was the lowest originally and the place i showed up expecting to sign and take delivery,but"there had been a mistake" blah blah.
this was their new and improved offer. Potamkin,by the way.
The originaloffer ,from them via carsdirect.com was, $418.00 mos including tax./ up fronts were, 585.00 at signing.
Of course I went for it!
I then talked about the above mentioned dealer add-ons (apprx 2600.00, and a fair amount residualized) and that kicked the price up to 480., and about 650 at sign. Then i show up to signand "Oh! we didnt realize that HONDA Finance squashes the 2000 cash back and also,your credit isnt top tier(and im sittng with an AmEx report in my bag that shows im 780 across the three agencies..I didnt argue,just up and split, not wanting to even vaguely reward that behavior. They emailed me, via my carsdirect contact the new and ACCURATE numbers.
dealer 3: 1498 upfront 452, plus tax(approx498)
so in my area , a nicely turned out Ridgeline needs 1500 upfront and 500 a month.
Im on hold a while, hoping some spec finance comes around
what do you fellows think of these numbers?
Thanks,
Ken
Car_man
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Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
Car_man
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Car_man
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Car_man
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Car_man
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Thanks for the comments. Sooo far, their website does not show any 2007 programs - not sure if they will run mid-month or wait another month, 2 or 3....I need to do something soon, so may have to purchase or bite the bullet on the non-susidized lease payment which really hurts.
Any ideas would be appreciated...
Thanks, Ken
I would like to know the MF and residual on a lease for an '06 and '07 Ridgeline RTL w/sunroof for 3 years with 15,000 miles a year.
Thanks for your help Car_man.
Tim