Finance Question

[mecrens]

I have been approved by AHFC and my creidt union for a loan on and new Ridgeline. Typically the credit union beats most other companines hands down. 4.95 for 60 months. My question who determines the APR for AHFC and how much flexibilty does the dealership have. Chances are i will go with credit union to get all of the 4500 dealer cash.

[Exbox]

Honda website says 2.9% for 60 months.
Why are you being financed at 4.95%?

[ToyTruck]

Low rate OR $4500 incentive....................not both, at least not here.

[Doc767]

I'm new to this forum (1st post) and new to Honda, at least I hope to be by Friday. I'm looking at a 2008 RTL and I've been talking to a couple different dealers. They said 2.9% was for $3000 cash back or you could take 4.9% and get $4500 back. Guess it depends on everyones individual situation. I've got them down to $25832 out the door for a new one. Does this seem good/bad/average to anyone who's purchased a Ridgeline lately?

Thanks and I look forward to learning a lot in this forum.

Doc

[BushBoarder]

Originally Posted by Doc767

I'm new to this forum (1st post) and new to Honda, at least I hope to be by Friday. I'm looking at a 2008 RTL and I've been talking to a couple different dealers. They said 2.9% was for $3000 cash back or you could take 4.9% and get $4500 back. Guess it depends on everyones individual situation. I've got them down to $25832 out the door for a new one. Does this seem good/bad/average to anyone who's purchased a Ridgeline lately?

Thanks and I look forward to learning a lot in this forum.

Doc

Bought my RTL w/ nav a year ago. I think I had a similar deal. 4.9% w/ $4000 back or 3.9% w/ either $2500 or $3000(?). Sorry my momory is fading w/ age.
I told them I wanted the 3.9% but they said I all ready got the $4000 off so the rate had to be 4.9%. They agreed to knock another $800, I think, off the price if I took the 4.9%. I agreed since I got a good deal on my trade and was dying to get in the RL. I plan on having it paid off in another 4-5 months, so no big deal anyway.

[BushBoarder]

Forgot, welcome to the ROC Doc767! Silly me.

[cornercuttin]

i just bought mine this weekend, and I got 4.5% for 48 months. i put $13k down, and financed $17k ($29k for the truck w/ nav and accessories, $1k for the warranty).

they lowered my rate a little bit because i got the extended 6-year/100k mile warranty. i paid $1k for it (which if my RTL is anything like my Accord, i will run up $5k in bills the first 3 years). because of this, i got 4.5%.

the difference between 2.9% and 4.5% is not that high. the cash incentives are definitely worth more money.

as far as prices go, RTLs w/o Nav are going for around $25,500 to $26,500 now. i am anxious to see if the cash gets any higher after memorial day. the dealers seem anxious to get them off of the lot.

that being said, anyone in Texas, Arkansas or Kansas seen a white RTL w/ Nav at a dealer? i paid for one last week, and they are trying to order me one. the problem is, we got a lot of hail damage in the last week, and they are having a tough time finding one without hail damage. i would like to point them in the right direction if i could. i emailed them about getting a loaner yesterday. lets see how eager they are to reply now that the sale has been made.

[HKINGS]

Originally Posted by Doc767

I'm new to this forum (1st post) and new to Honda, at least I hope to be by Friday. I'm looking at a 2008 RTL and I've been talking to a couple different dealers. They said 2.9% was for $3000 cash back or you could take 4.9% and get $4500 back. Guess it depends on everyones individual situation. I've got them down to $25832 out the door for a new one. Does this seem good/bad/average to anyone who's purchased a Ridgeline lately?

Thanks and I look forward to learning a lot in this forum.

Doc

Hey Doc767,

Welcome aboard! Quick question however... your quote seems great, but what were you quoted before tax title and license since they very from state to state.

Thanks so much!

[CHIP-MOVER]

Pick up my '08 Steel Blue RTX on Sat. and paid $22,000+250 Documentation and TTL. My credit union was offering 5.25% but said they would match up to 1% and did. Ended up with a rate of 4.25% dealer then lowered his offer to 4.15% and I didn't take it. I have gone the dealer route in the past and come to find out they add a hefty processing fee to the loan so in the end you lose. Rates are negotiable and generally credit unions are the best way to go if you just take the time to get the best rate. And premium credit of course.

[Doc767]

Thanks for the info. I'm in Oklahoma and that price does not cover TT&L. I did see 2 RTL w/Nav one silver one white. White one had tons of hail damage. The silver one had just very minor,,, maybe only 3 small dents. I'm opting for a black one I think without the nav.

Thanks again for all the feed back and I look forward to getting "up to speed" on the ridgeline in this forum.

Doc