Honda Ridgeline Owners Club Forums banner

1 - 6 of 6 Posts

·
Registered
Joined
·
301 Posts
Discussion Starter #1
I saw the bill at Enterprise to Honda for my monthly rental F150. It was $1,200. My 2008 is worth about $10K KBB Trade-in. I am three and a half month in now, and if parts don't get here till late summer/fall, honda will have almost paid more in rental than my Truck is worth. Wouldn't it have made sense to just offer me a buy-back on the truck from the get go? Then they could always re-sell it once its fixed instead of shelling out rental money they will never get back from Takata.

Thoughts?
 

·
Registered
Joined
·
4,171 Posts
As you get closer to the wholesale price of your truck, you might want to have a conversation with them about this.
You can sweeten the offer if you want to buy a G2 Ridgeline as a replacement.

Chip H.
 

·
Registered
Joined
·
679 Posts
i've said this from the beginning..... i even kicked out the first offer to honda here on this forum in case they were reading it...
 

·
Registered
Joined
·
662 Posts
Since Honda reads this forum...right?...I am ready and willing to accept and offer I can't refuse on my RL on a Crosstour or CRV, maybe even an Accord.

I can live without owning an RL for another few months since I am basically a RL storage unit now. Once the airbags are sorted or much closer I can shop around for a 2014 RTL or SE to replace it. ;-)

PS Expecting a phone call this weekend to come on for new tags since my 3rd month is almost up. At what point does a dealer loaner become a used car? or does it?
 

·
Registered
Joined
·
858 Posts
I saw the bill at Enterprise to Honda for my monthly rental F150. It was $1,200. My 2008 is worth about $10K KBB Trade-in. I am three and a half month in now, and if parts don't get here till late summer/fall, honda will have almost paid more in rental than my Truck is worth. Wouldn't it have made sense to just offer me a buy-back on the truck from the get go? Then they could always re-sell it once its fixed instead of shelling out rental money they will never get back from Takata.

Thoughts?
Think about the world we are living in now... nothing makes sense!

I'm not going to get political.

I suspect that the whole world economy is based on "funny money". What "we" say money is worth is what it is worth.

My 85 year old neighbor told me back in the eighties..."it will all work out, it will be okay. It always has".

I'm not so sure this time.
 

·
Registered
Joined
·
1,350 Posts
The reason a buyback wont work is that there are millions of people like me that for various reasons are still driving their cars with the "potentially" defective airbags. So Honda is paying out nothing on those units. We are taking our chances that the odds are vastly in our favor.

Many of the rest of the people who may have loaners or rentals have a substantial car payment. When they get their buyback settlement money from Honda, they pay off their truck, and then they are left with some amount of money that is insufficient to purchase another vehicle of equal value or utility. They may even be upside down in their loans. They are worse off than when they started.

No manufacturer wants to have a "lot" full of millions of used vehicles. If Honda starts a buyback program, it will signal the industry that they think the problem is so bad that they need to get perfectly good cars and trucks off the road at any cost because of a "part defect" they did not cause. It changes the whole recall dynamic. They would get sued by every other manufacturer. This is the point where they decide to deal with injury and death lawsuits and let the marketing department deal with the bad press instead of trying to fix the problem.

In the end, the rental/loaner program effectively acts as a "temporary" buyback.
 
1 - 6 of 6 Posts
Top