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2013 and earlier-Acura RL Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mrmell. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura RL with 10,000 miles per year are .00280 and 54%, respectively assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. When negotiating your lease on this car make sure to take the $3,500 dealer cash that is currently available on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

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  • What is the current residual and money factor for a 2007 RL w/o nav?
  • What is current pricing for 07 and 08 RL w/o nav
  • Hi critcaremd. This car's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Acura RL with 15,000 miles per year are .00275 and 48%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. As you can see, Acura is not currently providing lease support on the '07 RL. That's the bad news. The good news is that this lack of lease support means that you can use the $3,500 dealer cash that is currently available on it to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • Hey critcaremd. You can look up these cars' MSRPs and dealer invoice prices in the following section of this site: Edmunds.com - New Vehicle Pricing.

    Car_man
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  • I've been looking to lease a certified used RL, but Acura salesmen in Northern NJ tell me that no leasing is available for used cars.
    Today AHFC told me they will lease used cars, subject to mileage and age limits - certified cars should be ok.
    Car_man, or anybody, do you have any experience leasing a used RL, or other Acura? If so, would payments be lower, like the price would be, compared to new cars?
  • I'm looking to lease 2008 RL with Tech Package for 36 months and at either 12k or 15k/yr. Could you please tell me the residual and money factor? I'm in the state of Missouri. Thanks. Is Acura offering any dealer cash or subsidy at the current time? I could not find any incentives.
  • From acura.com: "Subject to limited availability. Through 10/31/2007, to approved lessees by American Honda Finance Corp. Closed end lease for 2008 RL vehicles (Model KB1658KW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $46,995.00 (includes destination) less the capitalized cost reduction resulting in actual net capitalized cost $41,438.25. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $20,484.00. Option to purchase at lease end $25,847.25. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 10,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 10,000 miles/year. See dealer for complete details."

    My math says residual percentage of 55% and money factor of 0.002 (4.8% APR). Interestingly, there is a difference of $5562 from the $46,995 MSRP and net capitalized cost of $41438.25. Since the drive off is $3,999, Acura Finance is giving us some discount. I don't know exactly how much, because I don't know what my drive off payment is going to. At any rate, I hope this helps.

    I got an offer of $579/month plus tax for 36 months($630/mo out the door) with $26,000 residual on a 2008 Acura RL w/ technology package from a local dealer. I believe that I could do better. I'm looking for $559/month plus tax. Wish me luck!
  • Hi jaybee85. I personally am not all that familiar with Acura's used vehicle lease program, but the problem that I have with leasing used vehicles in general is that given the lack of support on them they often turn out to be as expensive as, or even more expensive than equivalent leases of brand new vehicles. You definitely should compare the cost of leasing a used RL to the cost of leasing a new one before making a decision to lease. You may be surprised how small the difference in payment is.

    Car_man
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  • Here's the information that you're looking for, newacurabuy. Through October 31st, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura RL with the Tech Package and 15,000 miles per year are .00202 and 50%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The 12,000 mile per year residual value for this car would be 2% higher. Acura is not currently providing any cash incentives on this model.

    Car_man
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  • Thanks, car_man. It seems leasing a used Acura isn't so promising. Two NJ dealers said they wouldn't do it, even though AHFC said they would provide lease financing on good used cars.

    Now, is there any lease programs up or coming on new RL's, or TL's? What residual and money factor would you expect on
    a new RL or TL, based on 36 months and 12,000 miles per year?
  • You're very welcome, jaybee85. Honda is providing lease support on both the 2008 RL and TL in November. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Acura RL with 12,000 miles per year are .00129 and 52%, respectively. The numbers for an otherwise identical lease of a 2008 TL are .00168 and 58%.

    Car_man
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  • I just test drove an RL in a suburb of chicago. With the technology package, including all taxes and rated at 12,000 miles a year I was quoted $791 a month. The sticker is $50,500. Cash purchase was $44,000. Where should I go in my negotiations since it clearly is a buyers market.
  • I have owned many Lexus automobiles and never owned an Acura. I don't want to spend $70,000 for a 460 and my wife doesn't like the next model down. I am considering a gs 350 or a RL. Your thoughts would be appreciated!!
  • jensadjensad Posts: 388
    I too own an 04 Lexus RX 330. Since my wife has purchased a Honda Pilot I will next year sell my Lexus. Now, I also have driven an RL and a GS 350. I loved the acceleration of the GS, however, I cannot stand the small ness of the interior.

    I would hate to be in an accident in the GS. And I too do not want to spend 60-70 K for the big Lexus. I really think in about Feb with the rain ect, I'll buy an RL. I really think Lexus is making a mistake by going to smaller cars.

    Good luck to all and stay safe.

    jensad
  • Here's the deal I have been offered:

    2008 RL Tech Package, based on $4000 discount off of MSRP, $775.18 per month @ 18,000 miles per year/36 months, $1261.34 due at lease signing.

    This looks considerably higher that what I am seeing on this board. What am I missing?
  • vistavista Posts: 7
    Hi, Car Man and others!

    You kindly helped me 2 1/2 years ago when I leased a 2005 RL. It has been my first car lease. I am starting to think about my options for the end of the lease and have some questions, especially since Acura sent me a postcard asking me about my plans wrt continuing the lease, buying the car, or turning it in. First, is there an online resource that I should be reviewing which provides general info on end-of-lease options? Second, the residual of $28.3k (3 years @ 15k/yr.) seems to be in line with retail for this model (low 30's now), so buying would be a wash, right? Third, what happens if I continue the lease? Is it month-to-month, or do I have to sign up for a specific period of time, or is it all negotiable? Also, would it typically be for the same monthly payment I am doing now, or is it negotiable or set some other way? One consideration is that I have interrupted my career to write a book, and so I doubt my credit report (with no annual income!) will be warm and fuzzy - it might be difficult to qualify for any financing - shall I assume they perform another credit check? A second consideration is that there is several hundred dollars of body work needed beyond what I can imagine they will allow upon returning the vehicle. Should I take care of it now, wait until the return inspection and then do something, or otherwise take it into consideration when deciding upon my purchase, lease extension, or return of the vehicle.

    Thanks for your patience in answering all these questions, and for your past help!!
  • If Acura isnt selling these cars...and they are offering $4k dealer cash, has anyone worked a deal for a low mileage (10k to 12k) lease in the low 500s? It appears to be possible with an invoice price - $4k cash, at the lease rates Car_Man notes above.
  • Welcome back, vista. Edmunds.com has an article on the purchasing of vehicles at lease-end. Here's a link to it for your convenience: Buying Your Leased Car.

    In order to determine whether you should purchase your RL at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your car or truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.

    As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    If you have enjoyed driving your RL, have not been in an accidents in it, and its purchase option price is in line with its current market value, you may want to consider buying your car.

    I am not sure what Honda Finance's policy is on the extension of leases. Some banks will let lessees go month to month, others will provide an extension for s set period of time, i.e three months, six months, etc... You need to place a call to them to see what they will let you do. Regardless of what their policy is about the duration of your lease, the monthly payment for your extension will likely be the same that it is now. As long as you have been making your car payments on time, Honda Finance probably will not check your credit again for an extension. If you do not have the cash to lay out to purchase your car and your credit has been damaged to the point that you may not be able to lease a new one, or you at least won't qualify for banks' top credit tiers, then an extension might be the right way to go.

    Car_man
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  • Hi smithsonga. You will probably be interested in the fact that Acura recently significantly enhanced its lease program for the 2008 RL. The $2,000 dealer cash that is available on this car is not compatible with its special lease program, but its money factor was enhanced to .00042. This caused its advertised payment to drop to $499 per month for 36 months with $1,905 down.

    Car_man
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This discussion has been closed.