Hi guys. New to the site. I'm wondering if anybody can give me an idea where a 3 year lease price should be with about 12,000 miles a year for a 2014 rtl that lists for $35700
I don't want to walk into the dealer cold. Any info would help.
With a lease, you negotiate a price just like you would with a purchase. So it'll be whatever you can talk your way down to.
The things that go into a lease payment are the depreciation of the truck over time (sales price minus the forecast turn-in value, called the capitalized cost), the cost of money, and any fees/taxes.
The cost of money will vary based on your credit history. In a purchase this is the interest rate. In a lease it's the money factor. Take an interest rate you know you could get, divide it by 2400, and that's the money factor.
In a lease you don't own the car - the leasing company does. They will pass any sales tax (monthly) along to you, as well as any property tax. Because they can.
Also, leasing makes the best sense if you can write off the payments as a business expense. This usually requires a vehicle with a GVWR of over 6000 pounds, and the 1st generation Ridgeline just makes this figure.