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2013 and earlier-Acura RL Lease Questions

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  • falconhifalconhi Posts: 2
    When I told my sales person here in Hawaii about some of the Lease offers some of you were getting he told me it was because the RL in Hawaii is a different car and that these lease offers just aren't possible in Hawaii. I also referred him to the special on the Acura website ($1300 down, $599 / month, 36 months) and he said that deal is not available in Hawaii and Alaska. He said the best deal he could give me was for something like $3,999 down, $612 plus taxes for 36 months. Is this true? I have a 2003 TL that's lease is up in July and he said this includes paying off the last 2 months of my current lease of $479 a month.
  • falconhifalconhi Posts: 2
    In addition to my question above: My salesperson told me that the MSRP he was going by was 49,180 with a sales price of 44,372. Exact offer he gave me was for 3,000 down, $624 / mo. including tax, 10,000 miles / yr. thanks in advance for any help.
  • leo11leo11 Posts: 9
    The best one I could get was 3500 down and 610 a month incl TT&L. I know that if I had played harder I could have dropped it to 600/month. I only wish that I leased last month when they had tax credits on. Thank you for all your help. I love the car.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on your new car, Len. Enjoy!

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  • BushwackBushwack Posts: 258
    Car_Man: Would you please provide the money factor and residual (and possibly work up some numbers) for a 2006 Acura RL?

    - 3 year and 4 year lease
    - 10,000 and 12,000 miles/yr
    - MSRP: $49,915
    - Selling price: $42,250
    - Location: Los Angeles

    Any other lease information specific to Acura that you have would be appreciated. You helped me out greatly leasing a 2005 RL last year (this lease is for my brother-in-law).

    Thank you.
  • bobby29bobby29 Posts: 5
    Car_Man: I am also loking to lease a 2006 RL. It seems Acura's May lease special on the website is not as good as last month, but I have heard that Acura is giving 3k back to the dealership on RL purchases.

    -36 month lease
    -15k miles a year
    -$49,915 MSRP
    -$42,000 sales price

    Trying to figure out the payment with 1K down to cover 1st months pmt, sec deposit, tags etc.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're right, bobby29. Acura is currently providing $3,000 dealer cash on the 2006 RL. The reason why its advertised lease payment for this car is worse this month than it was in April is because Honda Finance's residual values for it dropped. According to my calculations, if you were to lease a 2006 RL with an MSRP of $49,915 and a selling price of $42,000 through Honda Finance right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment should be around $651.

    Car_man
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  • bobby29bobby29 Posts: 5
    Thanks Car_Man. What is the money factor and residual % you are using for that calculation?
  • eclipse2eclipse2 Posts: 64
    I have a dealer in NJ with a lease on a 06 RL 36 Months 12k miles with 2,000 down $25,956 is res. paymen with tax is $617.70 msrp $49,915 neg price $40,599 does this sound right to you?
  • rabb30327rabb30327 Posts: 2
    Car_Man - it appears sluggish sales of this car in '06 and the $3K manufacturer incentive made this an attractive lease in May. Can you provide the June incentive, money factor, and residual rates? I'm specifically interested in 36mo / 15K leases. Also, do you know when the '07 RLs will be available?

    Is there a place online where we can access published manufacturer residual/mf rates?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, bobby29. I used a money factor of .00265 and a residual value of 50% to calculate your car's lease payment.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi eclipse2. The selling price that you were quoted for this car appears to be right around dealer invoice once the $3,000 dealer cash that Acura is providing on this car is taken into account. That is a good price for this car. Using the numbers that you provided in your post, an MSRP of $49,915 and a selling price of $40,599, I estimate that this car's zero down, pre-tax, 36 month, 12,000 mile per year monthly payment should be around $584. Even with tax being taken into account, if any od the $2,000 that you are putting down is a capitalized cost reduction the payment that you were quoted is a little high. Make sure that the dealer that you are working with is using Honda Finance's buy rate lease money factor to calculate your car's monthly payment. Its current 36 month buy rate for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit is .00265 for this model.

    Car_man
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  • eclipse2eclipse2 Posts: 64
    Car_man thanks alot! :)
  • eclipse2eclipse2 Posts: 64
    Hey car_man what about the lease that acura is giving now with the $599.00 a month with $2,999. down. is the deal that I got better if I could get them to fix that payment to the $584.00 thanks again :shades:
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, rabb30327. If you were to lease a 2006 Acura RL through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 50%, respectively. I know that the 2007 RL is not available yet, but I don't know exactly when it will begin to arrive at dealers. I am not aware of any place on the Internet that provides information on manufacturers' actual lease programs to the general public.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, eclipse2.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey eclipse2. Yes the deal that you negotiated on your own is better than the one that Acura is currently advertising on the 2006 RL. Specifically, the selling price of the lease that you negotiated is $934 less than the one that Acura's advertised lease is based upon.

    Car_man
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  • esbordenesborden Posts: 1
    Can you reveal the name and location of the dealer where you negotiated your deal?
  • chucky2chucky2 Posts: 8
    Car_man, When I use a MF of .00265 and a 50% residual on the Edmunds lease calculator, I get $738 a month on a 36month, 15K lease. I have a 6% tax rate, title and reg is $630, aquisition fee is $500, and security is $750. Are these the same numbers used in your calculation?
  • eclipse2eclipse2 Posts: 64
    Yes it was with Sussman Acura on RT38 in NJ..
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey chucky2. Honda Finance's current buy rate lease money factor and residual value for consumers who lease a 2006 RL for 36 months with 15,000 miles per year are indeed .00265 and 50%, if you qualify for its top credit tier.

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  • tallactallac Posts: 1
    Car Man,

    Can you publish the formula that you use to determine the lease rates so that I can take it to a dealership?

    I'mm pretty good with numbers (i do office equipment leases w/ GE, Citi, etc), but I don't know how to organize the numbers on an auto lease.

    Thanks

    Tallac
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Tallac. I don't use any formula to calculate banks' lease money factors. These numbers are published by manufacturers and I have a lot of contacts in the industry who are able to give me an idea of what the lease programs for specific vehicles are like. Here is a link to an article on how to calculate vehicles' lease payments if you are interested: Calculate Your Own Lease Payment.

    Car_man
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  • joeblowjoeblow Posts: 11
    Have the standard acura/honda lease factors changed for August?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, joeblow, Honda Finance's standard lease program did change for the month of August. Its standard money factors vary by term. Honda Finance's current 36 month factor for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit equivalent to their vehicle's monthly payment rounded up to the nearest $25 increment at lease signing is .00283. I believe that its residual values are the same in August as they were in July, but I would be happy to double check for you if you tell me how long you want to lease for and what mileage allowance you need.

    Car_man
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  • 69cv69cv Posts: 4
    Anyone see anything wrong with this deal?

    Lease Terms:
    ------------
    Cap cost = 41.2
    Residual = 51% = 25,456.65
    MF = .00283 = 6.79%
    Monthly pay = 657.25

    Up Front Costs:
    ---------------
    1st Mo. Payment = 657.25
    Doc + Reg fees = 385.75
    Bank fee = 595.00
    Tax on Bank fee = 29.75

    Total up front at signing = 1,657.75

    thanks
    69cv
  • Hi 69cv. Acura is not currently providing any lease money factor support on the 2006 RL. As a result, if you were to lease one through Honda Finance right now you would have to use its standard money factor. Its current buy rate standard lease money factor is right in line with the number that you were quoted. This is a good sign because it means that the dealer that you are working with is not trying to mark your car's money factor up to add hidden profit to your deal. Now let's take a look at the capitalized cost that you were quoted. According to Edmunds.com, the dealer invoice price of a base 2006 Acura RL is $43,907. The price that you were quoted is $2,700 below invoice. With the $3,000 dealer cash that is currently available on this model, it puts you at right around $300 over invoice, which is a good deal.

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  • 69cv69cv Posts: 4
    Car_man

    I did lease this vehicle. I forgot to mention it was a 36 month / 12k per year lease. Some 2006 RL buyers on the "Acura RL: Prices Paid & Buying Experience" forum seem to be doing a little better on price (40.8 + or -) but not many in the New England area.

    Thanks
    69cv
  • todd53todd53 Posts: 47
    My dealer has offered the following lease terms on a 2006 RL:

    -MSRP: $49,915
    -36 month term
    -12k miles per year
    -$5,000 down
    -$658 per month inclusive of all taxes, title, license, etc.

    I know very little about leasing and would appreciate any advice.
  • Hi todd53. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work give you my opinion of this deal if you let me know what this car's selling price is.

    For now I can tell you that $5,000 is way too much money to put down when leasing. I always advise community members against making down payments on leased vehicles. The main reason why I do so is if your leased vehicle is totaled in an accident or stolen and never recovered, its down payment essentially disappears. Even though it will make this car's monthly payment higher, you would be better off not making a down payment.

    Car_man
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