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2013 and earlier-Acura RL Lease Questions

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  • Car Man, many thanks for previous assistance on my last 3 cars. I am thinking of leasing an RL with Tech. I like to go for 36 months, 18k per year. Was wondering if you could provide MF and residuals. Thanks in advance.
  • amontyamonty Posts: 2
    Hi- my first post here - best of 3 deals I have so far on RL/Tech pkg/36 mos/15k is:
    Selling price 43,521 (would be 2k less if not lease)
    MF .00046; Residual 25,307 (50%)
    Cash due at signing $2055 including 1st mo pmt and other plus cap reduction
    Monthly lease incl. 8.25% tax: $599
    Thanks for feedback.
  • blov8rblov8r Posts: 567
    While this question was posed to Car Man, I'll weigh in with what I've just seen on the net. The RL's sales are sluggish, actually significantly down in the last year, so they're showing $499/month for 36 months w/ < $2000 up front. Those numbers are what they're offering presumably off MSRP ... and it would appear that those numbers would be negotiable. Bart :shades:
  • amontyamonty Posts: 2
    update of previous post and question to carman
    After discussion at dealership the deal was corrected to
    Selling price 43,521 ;MF .00046; RESIDUAL 24,295 (48%)
    Cash due at signing $2055 including 1st mo pmt and other fees plus cap reduction of 978.
    Monthly lease incl. 8.25% tax: $600
    But when I looked at the printed "Lease Review", the "GRS CAP COST" went to 44,123. The salesman, who seemed very honest and transparent, said the extra "$595 HONDA FEE FOR LEASE CALLED ACQUISITION FEE" was added into the selling price.
    Is this standard fare in leasing or a means of squeezing a few more bucks out of customer? or just judge this deal as 600 per mo with 1000 down?
    thanks for any input
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Wow, I've helped you out on your last three leases, joegolfer1. You're making me feel old :) . Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura RL with Tech and 15,000 miles per year are .00164 and 46%, respectively. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it it to wait until the scheduled end of your lease and have to pay an excess mileage penalty. When negotiating your lease on this car, make sure to take advantage of the $4,000 dealer cash that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi amonty. Acura's May lease program for the 2008 TL is different than its April program was. Its money factor for this car is now higher, at .00164, but Acura is providing $4,000 dealer cash along with it that will help you negotiate a low capitalized cost for your lease. If I was in the market right now, I personally would shoot for around $500 over dealer invoice and then have the dealer subtract this cash incentive from that, putting me at around $3,500 under invoice.

    Car_man
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  • rjdoc74rjdoc74 Posts: 16
    Dear Car_man,

    Great forum. I am new to Acura RL lease, and was actually in the market for a 5 series until 5/6 (you must know what happend that day). Now I am looking at other options to get most bang for the buck. Few questions:

    1. Which lease calculator do you prefer for Acuras? Is there specific one?
    2. What's the aquisition fee on Acuras nowdays?
    3. What is a customary dealer fee? With BMW it's around $480 + doc fees.
    4. Edmunds website states you CAN combine advertized lease special with $4k dealer cash. How would that work? The special is $2500 down including $1405 cap reduction and $499+tax per month.

    Thanks for your help!
  • vavavavolvovavavavolvo Posts: 111
    What happened regarding the 5 series on 5/6?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Oh, I'm very aware of what BMW did to its lease program on the 5-Series for May. I have spoken with a number of unhappy BMW dealers.

    I actually use my own lease calculator that I created in Excel to work up payments. You can create one yourself using the formula that is outlined in the following article: Calculate Your Own Lease Payment. The lease calculator that is available here at Edmunds.com is a good one as well: Edmunds Lease Calculator.

    I believe that Acura charges a $595 acquisition fee on every vehicle that it leases.

    I'm not sure what you mean about "a customary dealer fee." Are you asking how much profit dealers typically make on the RL or are you asking what sort of doc fee Acura dealers usually charge?

    The $4,000 dealer cash that Acura is providing on the 2008 RL is available on leases of it through Honda Finance. You should negotiate the lowest possible selling price that you can on the RL that you want, as close to dealer invoice as possible, and then have the dealer subtract the four grand from that.

    Car_man
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  • mrussomrusso Posts: 9
    CarMan, I currently lease a 2005 RL - lease is up in Sept 08. I'd like to lease another RL [I love the car]. Isn't there a lease special going on? What is the best deal I can look for in Houston, TX?
    Thanks!
  • mrusso, Would you mind telling me what the residual is on your '05 RL? I'm looking to buy an '05 RL and trying to figure out a reasonable price to offer considering the discounts available on the '08 version. Most dealers in my area are asking just under $30K for an '05 but have '08 models with 1K miles for $40K. So it seems the 05 should be less than what they are asking. Thank you.
  • mrussomrusso Posts: 9
    gregfrommn, I looked on my paperwork:
    $42598 Agreed price
    $43886 Gross capitalized price
    $29305 residual value
    I only have ~25k miles on the car now. I live 1.7 miles from work.

    12k mi/yr with lease price of $588/mo with $0 down.- which is over 09/01/08 and I am looking for another good lease deal. Good luck!
  • mrussomrusso Posts: 9
    Hey Car_man,
    My RL lease is up 09/01/08. What is the best lease I should get for 10k mi/yr, nav system in Houston, TX [my credit score is 783] ? Thanks for your help!
  • pds1pds1 Posts: 24
    My 2005 lease is coming to an end next month. I'm ready to lease a new 2009 RL.

    Does anyone know the monthly payment for that car on a 36 month lease with zero down and 12K miles?

    Thanks

    Hobart
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mrusso. You need to know the MSRP and selling price of the RL that you are interested in to calculate its lease payment. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base '09 RL with 10,000 miles per year are .00137 and 55%, respectively. Take these numbers, along with the MSRP and selling price and plug them into the formula that is outlined in the following article to get an idea of what sort of lease payment to expect: Calculate Your Own Lease Payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi pds1. Acura is currently advertising the base 2009 RL at $549 per month for 36 months with $2,555 down. If you are in an area that has a decent level of competition, you should be able to do better than that by negotiating the lowest possible selling price and then having the dealer calculate your payment using Honda Finance's buy rate lease money factor of .00137 (for Super Preferred tier customers who pay a security deposit at lease signing).

    Car_man
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  • pds1pds1 Posts: 24
    Thanks for the numbers on the RL. I've been told to never put any meaningful money down on a lease transaction. In the event the car is stolen or totaled in the early months of the lease, I simply lose that down payment.

    Is that correct? Isn't $2,555 too much to put down at the initiation of a lease?

    thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, pds1. What you were told is correct, it definitely is not a good idea to make a large capitalized cost reduction on a lease. Consumers can lease any vehicle that they want without making a down payment. All you have to pay at lease signing are your car's first month's payment, Honda Finance's $595 acquisition fee, a security deposit equivalent to your car's monthly payment rounded up to the nearest $25 increment, and any required state taxes or fees. You can even roll the taxes and acquisition fee into your car's cap cost to make them part of the payment if you want. Also, Honda Finance will waive its security deposit requirement in exchange for a .00010 money factor increase.

    Car_man
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  • mrussomrusso Posts: 9
    The dealers in Houston are reluctant in giving out the details of MF, etc. The best 2009 RL with tech deals I am being quoted in Houston are for $669/mo, 36 mo., 10k mi/yr and $3500 down. I was also quoted $779/mo with $1000 down. These rates are too high. I'd like to lease an RL with tech but it is more than I am willing to pay.
  • Anyone know what the September lease situation is for a 2009 RL?

    Incentives / Dealer cash? Residuals? Money factor for Tier 1 customers?

    I'd be looking to do a 36 month lease at 12k.

    Thanks in advance. This forum is a huge help.
  • Hi 1stacura. Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura RL with 12,000 miles per year are .00119 and 53%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Acura is not currently providing any cash incentives on this model.

    Car_man
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  • Hi,
    Im very interested in an 08 rl nav.
    What are the numbers looking like now, last update i see here is back in may.
    12k year 36 or 39 months.

    wondering if the cash back is still in effect for th 08s.

    tia.
  • Hi kki000. Acura paid off its dealers $4,000 dealer cash for any remaining 2008 RLs that they had left in inventory back in July. You can still lease one through Honda Finance if you can find one, but you will have to use its standard lease program. Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura RL with 12,000 miles per year are .00270 and 47%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 39 month lease are .00270 and 46%.

    Car_man
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  • btl2btl2 Posts: 2
    could someone please give me the money factor and residual for a 15K mile lease in october thank you. Dealers typically insist the money factor is higher than what the blogs say. thanks. Does honda financial publish this info themselves?
  • eights38eights38 Posts: 137
    btl2,

    Acura's new program expires on November 3rd. For 36 months with 15,000 miles per year, the residual is 51% and the money factor is 0.00119.

    Best,
    Matt
    eights38@gmail.com
  • pds1pds1 Posts: 24
    Matt-
    Are you sure about those numbers for a 2009 RL? They seem low.

    Regards,
    Mike
  • jbm160jbm160 Posts: 16
    My lease is up in February on my 2006 RL and the residual value on my contract is higher than the asking price for the same year/mileage vehicles at dealers in my region. Is the lease-end purchase price negotiable, and if so, are there any tips on negotiating this? If I turn it in, what does AHFC sell it for to the dealer?
    Thanks,
    Bartley
  • Hi Bartley. If your car's purchase option price is significantly higher than its real world value at this point, place a call to Honda Finance...or whichever bank you are leasing it through and see if they will negotiate with you. There's no guarantee that they will. In fact, more often than not banks won't, but you don't have anything to lose by trying.

    Here's a little tip, if your initial contact at the bank isn't willing to work with you, lesses sometimes have better luck if they work their way up the ladder to a manager.

    Good luck and make sure to let us know how everything turns out.

    Car_man
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  • pds1pds1 Posts: 24
    Not going to happen. I tried to buy my 2005 RL from Honda Finance at the end of my lease for book value. This happened to be about $5500 less than the residual buyout price.

    "We do not negotiate the buyout price" they told me. "Just return the car if you do not want to pay the buyout price."

    Now Honda can eat the $5500 loss when they send my 2005 to the auction, but at least they know they can sell me a brand new 2009.

    If they had sold me the 2005, I would have driven it for 3 or 4 more years.
  • jbm160jbm160 Posts: 16
    Thanks for the tips, Car_man. I am leasing through AHFC, so I will try to contact them and will let you know if anything comes of it. I also understand pds1's point. It doesn't really matter to me, because I'm not planning to keep the car even if I buy it. My father-in-law likes the car and wants to buy it from me, but I'm not going to let him pay Honda above market value.

    Bartley
This discussion has been closed.