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2013 and earlier-Acura RL Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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.

    Car_man
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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: 38,518
    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.

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

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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.

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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.

    Car_man
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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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  • Car Man,
    I just got quoted a residual of 48% on a 2006 Acura RL. Does that seem low to you? What is the 36 month rate for
    15K miles on a standard Rl? My zip code is 94087.
    Thanks for your help,
    Jeff
  • Hi Jeff. Honda Finance's current residual value for a 36 month lease of a base 2006 Acura RL with 15,000 miles per year is 47%.

    Car_man
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  • I am looking to buy a RL
    i was quoted 44913 for RL w/ PAX (tech pkg)
    36 month lease, 12k miles
    what should my residual be (47 or 48 percent ?)
    money factor for superpreferred .00283 . Is that correct or can i do better ?
    I want the camera added - it appears to cost 400. what should i pay for it installed ?
    I want to avoid acquisition cost and security deposit. is that possible ?
    is there anything else I am missing ?
    Is there an advantage to buying on mon or tues before end of october ?

    Jeff
  • Hi Jeff. The dealer invoice price for a 2006 Acura RL with the Technology package is $47,958. When the $4,000 dealer cash that is currently available on this car is taken into account we arrive at $43,958. The price that you were quoted, $44,913 is $955 over this. That's a pretty good price for this car, but it wouldn't hurt to stop by the following discussion to see how much other community members have paid for similar models lately: "Acura RL: Prices Paid & Buying Experience".

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Acura RL with the Technology package and 12,000 miles per year are .00280 and 45%, respectively for consumers who pay a security deposit at lease signing and qualify for its "Super Preferred" credit tier. If you won't want to pay a security deposit, Honda Finance will waive it in exchange for an increase of .00010 in the money factor that is used to calculate your car's lease payment.

    Car_man
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  • Can you tell me what the current MF and residual for the RL and RL with technology package is for this month? Assuming the highest credit tier. 15k over 3 years. I am looking to lease at the end of February. Will the MF's and residuals extend until then?

    Once again - you are the man!
  • Carman,

    Please provide this month's money factors and residuals for 2007 Acura RL (base model) for all lease terms Acura offers based on 15k mi/yr. Much appreciated!
  • Thanks tbenson81 :blush: . 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 base 2007 Acura RL with 15,000 miles per year are .00196 and 51%, respectively. The numbers for an otherwise identical lease of a 2007 RL with the Technology Pkg. are .00196 and 48%. Unfortunately, this lease program is only scheduled to run through February 5th, so if you want to lease your car at the end of February you will have to check back with me to see what the new Feb. numbers are like.

    Car_man
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  • Hello gator00si. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Acura RL without the Tech. Pkg. with 15,000 miles per year are .00196 and 63%, respectively. The numbers for an otherwise identical 36 month lease of this car are .00196 and 51%. Its 39 month numbers are .00196 and 48%. Its 42 month numbers are .00196 and 48%. 42 months is the longest term that this car's special lease money factor is available for.

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  • Carman,

    Are you sure about the Residuals for the 39mo and 42mo? They are the same. Don't they usually decrease the longer the term? Please confirm as I'm trying to negotiate a 42mo lease. Much appreciated!
  • Good catch, gator00si. I made a typo on the 42 month residual value. Sorry about that. It is actually 47%. The 42 month term is the one that Acura is featuring in all of its RL ads and it will probably result in the lowest monthly payment.

    Car_man
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