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Comments
Sandy
We ended up with 279/month + tax with 1st month and 42 tax due at signing.
"supposily" the dealer is losing money, but with 58% residual and a MF of .00051!, the ridgeline was a really good lease deal. We are getting this deal in Woodstock GA. The honda dealer 2 miles from our house was a joke. THey only have 3 in stock and this being "soccer mom" territory, the ridgeline is not what they want to sell. One metro Atlanta dealer did not even respond to my or my husband's email to even get a quote.
Which Ridgeline model did you end up getting for $279/mth +?
I have been trying to get an RTL but can't get it under 500/mth which is too high.
They claim that the RT and RTX can be close to what you got but the other models are 3 times as much.
Thanks
JohnH
This is the standard deal and below is the Special Lease
2008 Ridgeline RTL
36 Months Term
12,000 Annual Mileage
$593.24
*Lease Summary: Required Refundable Security Deposit $600.00, 1st Monthly Payment $593.24, Capitalized Cost Reduction $2,500.00 to equal an estimate total of $3,693.24 due at lease signing
LEASE SPECIAL
2008 Ridgeline RTL
36 Months Term
12,000 Annual Mileage
Terms Certificate
$432.77
*Lease Summary: Required Refundable Security Deposit $450.00, 1st Monthly Payment $432.77, Capitalized Cost Reduction $2,500.00 to equal an estimate total of $3,382.77 due at lease signing
What is the money factor and the % Residual on this Lease Special?
JohnH
Thank you for your help. :shades:
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Now if I was to trade in my current GM smartbuy which is $13,795 buyout how does that play into the mix??
finally is there one good site that will give you a good refresher/basics on lease caculations.
thank you fro the help in advance!!
Greg
I am up in NY and was wondering what your final deal came out too. My email is listed in my profile.
Thanks
I am picking up a 08RTS for $7260 off of sticker in NY. There are some good deals. The other huge plus is they are allowing special finance rates along with the cash back. 2.9% up to 60 months. Typically its one or the other.
I feel I got a good deal and can wait to take delivery on Monday!
Thanks.
For me and my situation it was the best route, and was very pleased at getting $7260 off of sticker and combining the low finance rate. .
I ended up at $23,800 ( less tax and dmv) for the RTS, and they allowed me the special finance rate (2.9% super preferred credit)for up to 5 years on top of the cash back.
The deal was too sweet to pass up with $7260 off sticker and 2.9% FR. I am very pleased with the price and the truck. Thanks again for everyones help.
Edmunds.com has a number of excellent articles on how leasing works. Here are links to a coupe to get you started: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
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The dealer invoice price of a 2008 Ridgeline RTL without navigation is $30,597. Plus Honda is providing a $1,000 cash incentives on leases of this truck through Honda Finance. So a selling price of $30,097 ($500 over invoice minus the cash incentive) or better is an excellent capitalized cost for a lease off this truck right now.
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I recently started an all out quest for quotes in the NJ/NYC area.
I noticed most honda dealers not all will use the traditional method of selling the car. Simply put, they place a middle man who has no power of making the deal or numbers. Their job is to make you act on impulse. Enough of that.
Being a currrent America Honda Finance Customer, I was able to get rates on the Ridgeline. I confirmed that their is a 1,125 Lease case to dealer that is running until 4/3/2008. Lease factor remains at .00102 or 2.44 APR. (Not bad rate) I expected lower.
I am heading to Garden State Honda in clifton to work on a deal.
Keep you all posted on details.
3/3/2008 - 4/4/2008 Lease factor is .000832 or 2%
12k miles 36 month Residual Rate:
RT and RTX 56%
RTS 55%
RTL 54%
RTL w/navi 51%
Lease Cash to dealer $1,125
Now you know the figures. The game has begun. I was able to get a selling price for 26,200 from Garden State on a RTX model trim which is off my target price of $24,049. I walked away. I am sure they will call me later in the month either they meet or come close to my target price.
RTX MSRP w/destination $29,135; Invoice $26,449
Try Friendly Honda NY. I strickly dealt with the salesman the whole process soup to nuts.
Email me if you like and I will give your the particulars and salesman name.
I got the best price, and did everything via email. Best and easiset purchase to date!!
I know there is a 3500 cash to dealer but it can't be combined to Special AHFC Lease deals.
$1552.05 due at signing (1st payment and inception included)
36 month
12k year
$300.85 includes 7% sales tax (Need good credit to qualify)
If you are in a need for a great weekend duty truck, you must be nuts to pass up on the opportunity.
note it was not easy on getting this deal. You really need to have negotiation skills and do not expect this will be your first or second offer.
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anyone able to make the lease make sense with these viarables?