Buying your Ridgeline after lease... Leasing at all!

Has anyone come to the end of their lease yet on the Ridgeline and opted to buy it instead of turning it in?

What kind of deals did some of you negotiate when entering a lease, deposit up front, mileage cost for overages, etc.

Just interested in how picky the lease option is on body damage or if choose to purchase the vehicle after leasing it. Mileage overages, kid soiled interiors or any other issues you might have had personally.

I've had it work out quite well in the past to buy the vehilce I had leased, they even offered another three thousand off the term, simply because they had an over abundance of these unit, (the Isuzu Rodeo) coming back on leases that the market sort of crashed at the auctions, and rather then go though all the hassels of liquidating my vehicle for a loss, they called and offered me a cheaper buy out...

Tell me your story, good or bad, pertianing to leases.
Thanks

I've had my two Ridgeline's leased, price per month just went up when I switched from RT to RTS. I've had my RTS now a year and I'm going to have to get another one next year though my lease won't be up til 2010, reason being my milage is higher than it should be (got the 15,000 lease and I'm at 23,000 now after just a year). I'll consider the buy or sell options when time comes but chances are I'll just turn this one in for a new and keep on the lease. I actually would rather own the thing to begin with, but money ain't what it used to be. I'm also thinking of trying another dealer when time comes just to compare.

I actually would rather own the thing to begin with, but money ain't what it used to be. I'm also thinking of trying another dealer when time comes just to compare.

You are correct, I have never seen a lease that was equal to owning. I left a dealership several years ago because the sales manager kept insisting that I lease instead of buy!!!!!!

Hello everybody, I leased mine 2 months ago, only because i could not afford to buy it. I put $4500 down in the form of a trade and received a $229/mnth payment on a 12Kmile/year 3 year lease with option to purchase for $16,800 at the end or turn it in.
I love this truck it is the first new auto i have ever owned, i traded in my 97 gmc k1500, the fuel pump was starting to go again.

I just leased my '08 RTL. My lease agreement from Honda gives the dealer the option of "over looking" two above normal "wear and tear" instances of up to 500.00 each when you return the leased vehicle, mileage can fall into this category. Leasing is not for everyone and most sales people at the dealership don't understand completely how it works. It has it's advantages. In my case I do alot of work miles and I can write off the lease and related vehicle costs as a business expense. My lease is for an '08 RTL with 25,000 mi. per year, no money down, and 440.00 per month. The lease factor for my lease was .00051 which is very low. If you multiply the lease factor by 2400 you will get an equivalent interest rate for comparisons to financing, in this case 1.22%. If I was purchasing the RTL based on the same 30,007 negotiated price with no money down I would have had a monthly payment of 566.00 for 60 months @ 4.9%. My residual value is 15,000 at the end of the 36 month lease. I "bought" the extra miles up front at .10 which is cheaper than paying .20 for them at the end and any extra miles you pay for up front lower your residual value. Honda uses $30,000 as value point where extra miles cost more at the end of the lease. Below 30K they are .15 per mile, above they are .20. I can buy the vehicle at the end of the lease and then finance it for 6.00% (equity line of credit) for a payment of 456 for 36 months and still come out paying less than if I financed it for 60 months a Hondas 4.9%. (32,267 vs. 33,960) I do not put money down on a lease. I am "renting" the vehicle just like I would rent another piece of property so why pay rent in advance? The Honda lease has a provision for being "upside down" in equity if your truck is totaled and the book value is less than what is owed. If you had purchased your vehicle and this happens you will need to make up the difference yourself out of pocket. At the end of the lease I can walk away if I don't like the truck or it turns out to be a lemon, or if I still like it I can buy it. It's a win either way for me. It's an even better deal if Honda wants to negotiate further on the residual at the end of the lease.

Flease..............

Flease..............

Is that "flease" as in "please" or "flease" as in "fleece"?:rolleyes:

Leasing has it's place. Specifically as it relates to business. We lease all our vehicles because it's a right off from a tax point of view. We also insure all the vehicles under our commercial policy.

Leasing is a viable option, especially when you consider the current money factors. I just leased with an APR of 2.4%. It can be a good way to initially finance the vehicle. Also, I've leased three other Hondas and have NEVER had a problem with security deposits or the like; despite some pretty significant body scuffs.

When we bought our RTL back in November, the sales manager told us that of all the Ridgelines that they leased, none had been turned back in yet and had been purchased at the end of thier leases by the original leasers. I don't know how true that statement was, but the guy was a pretty good family friend. (They did not have any used Ridgelines on thier lot.)

When we bought our RTL back in November, the sales manager told us that of all the Ridgelines that they leased, none had been turned back in yet and had been purchased at the end of thier leases by the original leasers. I don't know how true that statement was, but the guy was a pretty good family friend. (They did not have any used Ridgelines on thier lot.)

We bought our RL because it was returned from a lease early, but it RL's defense, the guy that traded it in said it was "too big" and went with a CRV. We don't mind, we got a good deal, and its smaller than the 1990 3/4 ton Suburban I sold to buy it!

I have an '06 RT that I leased back in Nov. of '05. My lease will be up in a year and I'm definitely considering keeping the truck. I've been told that if you are nearing the end of the lease, you can call Honda direct and tell them you are interested in buying the vehicle outright if they can discount some of the residual payoff.

I have an '06 RT that I leased back in Nov. of '05. My lease will be up in a year and I'm definitely considering keeping the truck. I've been told that if you are nearing the end of the lease, you can call Honda direct and tell them you are interested in buying the vehicle outright if they can discount some of the residual payoff.

If someone has done that in Canada please let me know. I want to buy out my truck - but I think the residual is more then the book value. If that is the case why would I not turn it in then buy it off the lot (if it is still there - I have really looked after it). If I could get a couple of G off the residual I am sure I would buy it.

MC

Turned in a Titan early to lease my RL. Book value on the Titan was $17K and buyout was $26K. Nissan offered me $1500 off the buyout "because I was a perferred customer"