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cboy
Car_man
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Car_man
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Car_man
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trying to lease 2007 rtx. msrp 28850. dealer retail is 26540. do you need any other numbers to help me calculate what a fair lease price should be? i have also read that putting money down other than fees is a bad idea. true?
thanks
It's true that it is not really a good idea to make capitalized cost reductions on leases. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered. You really only have to pay your vehicle's first month's payment, a security deposit equivalent to your payment rounded up to the nearest $25 increment, Honda Finance's $595 acquisition fee, and any required state taxes or fees at lease signing. You can even roll the acquisition fee into your capitalized cost and have your security deposit waived in exchange for an increase of .00010 in your vehicle's money factor if you want.
Car_man
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You are absolutely right. There's nothing wrong with trading a vehicle in when leasing a new one, just have the dealer that you are working with cut you a check for your trade. Also, you can always sell your current vehicle privately. While it is a hassle to do so, consumers usually can get more money for vehicles that they sell on their own than they can get for them by trading them in.
Car_man
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Car_man
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Car_man
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The MSRP is $28,300. With a sales price of $27100, down payment of 1600, residual of 17,040 and a money factor of .001240, the cost according to the dealer is $349.29 including tax and license. When I enter the same information into edmuds lease calculator (with license fee at $280), the cost is $330.06. Then when I go to leasing guide.com, the number is even lower. When I called the dealership, they said that they could bring the cost of the car down to 26830, but the cost would be $340, still higher than the $330 that I came up with. Can you explain the discrepany?
What do you think is a good number to pay per month for 15k miles per year?
Thank you!
Honda's lease program for this truck changed for the money of January. Instead of the special lease money factor that was available on it last month, Honda is now providing $1,500 dealer cash on it. Make sure to take this cash into account when negotiating your lease. It will help you to get an attractive capitalized cost. Honda Finance's new 36 month, 12,000 mile per year buy rate lease money factor and residual value for the 2007 Ridgeline RTX are .00275 and 56%.
Car_man
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Car_man
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Basically, the two most important numbers to focus on when negotiating a lease are your vehicle's selling price and the money factor that is being used to calculate your monthly payment. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest selling price that you can on the Ridgeline that you want. If you are in an area that has a decent level of competition, you should be able to negotiate a price that's around $500 or so over invoice and then have the $1,500 dealer cash that is available on this truck subtracted from that. You can find the dealer invoice price of this truck by visiting the New Vehicle Pricing section of this site.
Once you have arrived at a price that you are comfortable with, have the dealer calculate your monthly payment using this truck's buy rate lease money factor. Honda Finance's current buy rate for consumers who lease this model for 36 months is .00275, assuming that you qualify for its top credit tier and pay a security deposit at lease signing.
That's about it. Let me know if you have any questions.
Car_man
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Here are my questions.
As the model year wears down to an end will pricing and incentives get better as a result of trying to move out the '07 inventory to bring in the '08?
When does the Honda Model year change? When would you expect to see the pricing change?
Do you have any details on the current offer for the RTL with Navi at 15K a year?
Any advice would be appreciated.
Regards,
Peter
discounts at the end of the year depend upon how much inventory is left to clear out.
it's the factory cash to dealer incentives that make the best senerio for negotiating. For leasing it's the money factor plus selling price.
The best way to save on a car is to contact several dealers in your area via e-mail, tell them what you want, that you're ready to buy, and get them to bid for your business. Can't find the car you want in your area? then expand your search out another couple hundred miles.
Car_man
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Car_man
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"Finance's current special regional buy rate lease money factor and residual value for a 36 month lease of a 2007 Ridgeline RTL without navigation with 15,000 miles per year are .00071 and 53%, respectively for consumers who qualify for its "Super Preferred" credit tier."
Where did you get the the .00071 money factor. I called a few dealers today and they said there is no special lease deals on the ridgeline right now and the money factor on the RTL with super preferred credit is .00275. I am in the seattle area.
Thanks for the info
Car_man
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Car_man
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Wouldn't it also help you negotiate a better lease rate?
"im going to have about 1500 to put down on the lease as well. "
You should never put anything down when doing a lease. Roll it all into the payment. Use your $1500 for better things, like an ivestment at an interest rate higher then your lease rate.
car man?
anyone?
Car_man
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Car_man
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I have read your previous postings and have found them all to be informative. I am in the market for an 07 Honda RL RTL (no navi). I am in California and it appears that there are no lease incentives at this time for this vehicle. Now that July is around the corner are you aware of any upcoming lease incentives (far less than .00275)? I am looking for a monthly payment range of $350 (give or take) with minimal down. I was quoted 27,900 (b4 tax/docs/etc) for an RTL (no nav).
Thanks.
- jbone
2007 Honda Ridgeline RTL..36mo...12k miles...tax incl - $449/mo with $796 due at signing; 51% Residual and .00219 Money Factor
MSRP on 2007 Ridgeline RTL at $33,535, sale price - 26,521. Lease payment for 36 mos. with 12k miles a year including tax is $427 with $847 due at signing. Residual value is $16,767.50. The money factor is .0025.
Car_man
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Car_man
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Thanks !
FEATURED SPECIAL LEASE: Closed-end lease for 2008 Ridgeline RTX Automatic Transmission (Model YK1638EW) for $309.00 per month for 36 months with a $2,105.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. $3,009.00 total due at lease signing.
MSRP $30,135.00 (includes destination) less the capitalized cost reduction resulting in actual net capitalized cost $25,618.34. Total monthly payments $11,124.00. Option to purchase at lease end $18,081.00. 12,000 miles/year.
If someone can post the MONEY FACTOR and RESIDUAL for the RTX we can figure out what the best deal would be..Post a reply addressed to Car_Man and ask for the MF and resid..or maybe he will read this and post it.
BTW, I am researching about 5 different cars/trucks right now because I have some time, and am not really decided yet on what it is I want.
Car_man
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Car_man
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Wow. No Ridgeline lease queries in a month!
Sir, could you be so kind as to quote me the Money factors and the residual values for both th RT and RTS? Lets say for the standard 12K/year for top tier credit.
I'm in Georgia, but have used Tennessee dealerships in the past if I could get a better deal.
Also, has there been much movement in these rates since the 08 came out? I do not intend to lease until December.
Finally, do you think there could be a possibility of some special deals with lease rates in December? Has Honda been known to do anything for the final month of the year?
Thanks,
FX
Car_man
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2008 RTX Ridgeline MSRP $29,135 Net $25,879
0 Down $749 Inceptions $367 mo. for 36 mos. 12k yr
IS this a good price?
JD
$26,900 sale price
$900 for accessories including installation(running board, roof rack, mud guards and wheel locks)?
$60 doc fee
Total $27,860 plus tax and license
When it comes to leasing though the money factor is decidedly more expensive than RT or RTX.
A $28K RT is$269/mth; a $35K RTL $460; 25% more expensive but the lease payment goes up 72%. I was thinking it'd be more like $350/mth
I understand that the money factor is different but then it pushes this to a $500/mth lease which means that Audi Q7 and other luxury brands come into play.
Is there a way to get an optioned Ridgeline RTL for around $350/mth?