Negotiating Lease End Buyout Price

How is Honda Financial as far as negotiating but out price? I have an '0g Honda with lease up in June - lease buyout is $16.8K on paper…value is more like $10K-$12K…I like truck and will pay reasonable, but how much will Honda move on that number? Any tips?

That will be entirely up to the dealer…and up to what you’re willing to pay.

My only tip is that you’re throwing money away by leasing. If the dealer won’t meet the price you feel in reasonable for a buyout, consider buying a different vehicle…not necessessarily a different make & model, just a different vehicle.

Go to the same dealer and see a used car like yours is listed for what price. Deduct at least $2K for they resale expenses and you can get your car for the same price (usually).

Put this to them also.

If you simply turn it in and they must put it on the lot as a used truck for X dollars. Then why not just sell to you for the same X dollars, minus the prep cost and other overhead they might incur.

They might rather sell it right back to you depending on their inventory position on taking it into stock.

YOU determine what you are willing to pay! Do your research and make them an offer. Be realistic. In todays market, if $10K is realistic, offer that. They will probably refuse. Give them your phone number and leave the office. You will have a message on your answering machine when you get home. Negotiate…Sometimes, they have a buyer waiting for a better price. You lose. But if they have six of them on the lot, you win. The lease business has collapsed because the projected value of the lease returns is just not there and many lease companies have gone out of business.

Since when did Honda make a truck?

They came out a pickup for the U.S. market a few years ago. They’ve actually been making trucks for other markets forever.

Okay, I’ll rephrase that. Since when did Honda make a truck in the U.S. market that would be potentially coming off lease now? And no, the Ridgeline is not a truck, it’s a glorified minivan.