2013 and earlier-Acura TL Lease Questions

pellepelle_10

Dear Car_man (whoever else that can help me),

I am planning on purchasing an Acura TL the end of the month. I've been trying to digest this info you guys have here. I have a major concern though. I have a 2000 VW Jetta GLS (127K miles) that is a piece of ____. I plan on trading it in to get it out of sight. I'm looking at the 36mo 12K lease on a base TL no Nav. Problem is I have $4300 left on the Jetta and Bluebook ranges from $4000 - $5600. Do I pay this lemon off and suck it up or do I part ways and try to milk as much as possible in a trade to the dealer? Also do you think if I decide to wait another month I'll miss out on the good rates that are going on currently (.00110 Money Factor, etc etc)? Lastly the car "looks" superb bu tthe problems that occur "engine" are unbearable. The front brakes are now squeeling, front windshield is cracked, and it needs an oil change. Should I just drive it in as is or butter these tiny glitches and pull in a flawless "looking", "sounding" car for max profit? These fixes will only cost me $350. Thanks guys!!

pellepelle_10

Car_man,

I have a close friend who currently owns a 05 TL. He wants to upgrade to the 07 TL-S. Would it be best for me to have him purchase his at the same time I do or no? (We're both going to wait until the end of the month before pulling the trigger if I can get my issue resolved). Thanks again!

Pellepelle_10

roubaix

Car_man

I was recently quoted $1500 down and $465/month on a 36 month 12k/yr 07 TLS Lease by a Northern NJ dealer. The numbers include all fees, am I on the right track?

Sincerely Roubaix

azn_boi

Roubaix,
I recently picked up a TLS in Northern NJ. 36 month 15k/yr for $470 a month. $2700 out of pocket due at signing. That includes 1st month payment and all fees.
Hope this info help. Good luck!

acuragvl

Car_Man

Just leased a 2007 TL-Type S for what I think was a great deal.
$1000 Due at Signing (included first month's pymt, acquistion, tax, title, tags)
$435 / month
36 months
15K Miles

$34,661 Selling Price -- .00110 MF -- 56% residual

How did I do?

thedork

Hi,

I want to lease TL manual with navigation.

I would appreciate your help with a starting point for the price ( net invoice or a little bit over invoice), residual value and how to calculate the lease with $0 down (prefer to pay only 1st month+ taxes, fees etc)

I need
36 months or 24 whatever is better deal
$0 - down
12K

Thank you!
PS I am also considering Infinity G35 – any recommendation with which one to go?

shoeman1

I am looking at a TL-S in Northern NJ too. My best offer is $900 up front, $495 a month, 36/15K.
Where did you get this great deal? What color did you choose? I am having a very hard time getting any color but Kinetic Blue.

robino

Hey ,
What dealership gave you this offer? I just got one here in NYC with $2000 down( first month, bank, plates and rest cap cost)
$499/month (This is with a 8.375% NY tax)
36months/ 15 year
$36,577 selling price.
I have to also wait around 6-7weeks for this car since it is a 6 speed manual.
Please help!!!!!!

acuragvl

Live in South Carolina - dealer was looking to move the TL-Type S - over 100 miles in test drives - sitting on the lot too long I guess. Nighthawk Black Pearl with Ebony / Silver Leather interior. Get them to come down on the selling price and you'll find the monthly payment will drop considerably. My selling price was $34661. Good luck shoeman1!

acuragvl

Robino - make them come down on that selling price - way too high. They should be eager as heck to sell the new Type-S. I haven't seen a single one on the road here yet. They are brand new for 2007 and I'd imagine they'd want to move them as fast as possible. Best bit of advice - walk in and demand your deal - if they waiver - walk out! That's what I did two Saturdays ago. Came in one week later and they didn't flinch that time. Got the car I wanted for the price I wanted. Good luck bud!

shoeman1

I went to Ramsey Acura on Rte 17 in Ramsey NJ.I bought my RDX there too.

shoeman1

Maybe the TL-S is selling better in NJ. I can't even find a dealership that has colors. My choice is the black as well. For some reason the 2 dealers I have spoken to are pushing to move cars by Thursday 4/12. My lease runs out in 10 days. I'm starting to sweat. Thanks for your info.

wayde

Bloomington Acura (MN) has 8 black TL-S models on the lot! Come on over...

shoeman1

MN is a bit far for me, but I'm tempted!

plasma4u

Hi.

I've recently leased 2007 TL, and when I was signing the lease, the finance guy offered "safe lease" at $750. He explained the it will cover up to $500 per items when I return the vehicle. I thought it was good to have, since my previous lease ended up with more than $700 for the repair.

Could anybody advice on this program? What are the catches and loop-hole? I still can cancel the program within 60 days of purchase. Thanks

andyking18

is there any way you can e-mail me a copy of the spreadsheet where you had all the numbers worked out? i am a first time leaser and do not know how to work out all the numbers. if you can e-mail that to me i would really appreciate it. THANK YOU!!! (vaugeeee@yahoo.com is my email)

andyking18

hello acuragvl. where did you get this???

acuragvl

A dealership in South Carolina. Not sure where you live. Here's one tip to help you out. Ask how long the car's been sitting on the lot. The stock number should be the first thing you look at. You can check that yourself by looking on the sticker of the car. The older the number and more mileage the car has, the more eager they'll be to move that car. Typically if it sits on the lot past 60 days they start paying on it. Right now, the money factor for the TL (any model) is .00110. I recommend leasing 36 months. The Type-S has a residual of 56% with 15K miles/year (it's 58% with 12K miles/year.) DON'T put cap cost reduction down in the deal -- only the money for first month's payment, tax, tag, title, acquisition. That should run you around a $1000 no matter where you live. From there, it's all about negotiating the selling price and monthly payment. That's the hard part.

robino

so I took your advise guys. I got a better deal at a dealer in NJ
This time its $1600 out the door
and $495 a month
Alltogether, this saves me $580($400 on the driveoff price and $180 over the 3 years)
This is for the tl-s with manual transmission.
Does anyone know if any dealer near nyc has any 6 speed manuals on their lots b/c i went to 3 dealers and they all say that it need to be ordered that noone has them in stock.

newtoleasing2

As a newbie to leasing, can you tell me what you think of the following offer for an Acura TL with Navigation please:

The residual is $20,973.15.
Breakdown on the drive-offs - 1st payment ($463.45), lic/reg ($283), doc fee ($45), tax on doc fee ($3.71), tire fee ($8.75). Acq. fee is in the cap cost. - Adds up to $803.91.
Closed-end lease
Money Factor - 1.1
There are no additional costs at the end of the lease, such as disposition fees or security deposits. The only other fees will be anything due American Honda, such as they may find based on excess mileage or wear and tear when the vehicle is inspected.

Is the deal good? Is there anythgn else I should ask or compare?

Thanks!

anamariav

ozz, this sounds pretty good. which dealership is this? i just went to Paragon (Northern Blvd in Woodside) and they were quoting 3K down, 420/month 15k miles. it didn't sound good to me at all. their MF was 1.1 which from what i've seen on this site...is pretty much right on point.

newtoleasing2

This lease deal is at Acura of Glendale. I've only been talking with them via internet, but was impressed with the Internet Manager's professionalism. Their money factor is also 1.1.

sluri

As far as I know, Acura (Honda) financing, allows a total of $1500 in tear/wear/damage, and for maximum of 3 items that are up to $500 each. So I don't understand how this is any different, then what you already get included in the lease. I know with my honda, I had some bumper damage that would have been around 300 bucks to fix, and they just noted it and I didn't have to pay a dime. I am 99% certain the same thing applies to acura leases through honda financial.
sluri

plasma4u

Sluri:

Thanks much for the answer. Where can I find information like the one that you mentioned? Is it in the lease agreement? Could you please let me know where I can find it?

Thanks again.

sodone

newtoleasing2-

Is this a 36 month term? Is the mileage 10K?

Thanks

samburleson

Does anyone know the cost if you buy additional miles up front on a TL lease? I want to lease but I drive around 30,000 miles a year so I would need to purchase 45,000 miles on a 3 year 15,000 miles per year lease. Thanks

stlgasman

The only reason to lease at 30K per year would be to take advantage of the lower financing cost associated with a subvented lease. I assume you plan to purchase at lease end.

sluri

It should be on the lease aggrement. I will look for it on my acura lease, it was def. on my honda one. You can always call honda financial or even the dealership. Let me see if i can find it in my paperwork.
sluri

anamariav

Ozz - do you mean Rallye? IN Roslyn? I just called the one in Bay Shore (Hilside acura) and their deal was...$2700 down (no cap. cost reduction - just title, taxes, fees + 1st month) and $474 a month ??? I hate dealers!

sassoun

The dealers are telling me that Residual Value are set and can't be change?!?! Is that true?

If acura offers 1.9% on a 36 month car why are they only offering 3% (Money Factor of .00110) for a lease??

delfer

Hi there azzazzello,

did you get this deal? i hope so! let me know, and with which dealership as i'm looking for the sam exact car (2007 TL with navi)

l008com

I recently sold my leased 2006 Acura TL back to the dealer I bought it from. I found a buyer for the car on craigslist, and so I sold the car to the dealer, and the dealer sold the car to the guy I found. Everything seemed great. Then I got a bill in the mail from Honda for an excise tax. The bill says the tax was applied to the car AFTER my account was closed. Doesn't this mean I'm off the hook? The title has long since been sent to the dealership, and the guy I found has been driving the car for months now. The way I see it, this tax should have been included in the lease buyout. Otherwise, Honda is just stuck with it. If my account is closed, that means I am finished!? They can turn around and say 'wait no you owe us MORE money'. Can they? Of course I don't have a copy of my lease contract with me. I can't seem to find it. I stopped treating it like it was an important document the day I signed away the Acura and was told I was now completely done with the car. What do you think?

kyfdx

Is the excise tax like a property tax? In my state, if you own (or lease) a car on January 1st, then you owe the property tax for that year, no matter how long you keep the car.. Since the tax is collected in your birth month, you could sell a car on January 2nd, and then get hit with the property tax bill as late as December.

If this is a tax that your state has charged Acura Finance because of where and when your car is registered, then Acura Finance will just pass it along to you. If the state has made a mistake, and you can get them to refund the amount to Acura Finance (and you can document it), then you may be off the hook.

Good luck,
kyfdx

l008com

Yes excise tax is like property tax. And they are in the process of getting it reduced since I only owned the car for 1 month of the year. However they expect me to pay the full amount. And the question I have is, even though I did own the car for that one month...
I didn't own it, Honda did. And Honda got billed the tax. My car was sold and my account was closed, so even though I'm sure my lease agreement said I was responsible for taxes levied on my car, isn't that agreement dissolved when my car is paid off and the account closed?

kyfdx

isn't that agreement dissolved when my car is paid off and the account closed?

As you are finding out... it isn't over, until they say it is over...

l008com

But they DID! In that letter, they are admitting that my account was closed. I was also logging into my account online to verify that it was paid off and closed, and it did close. I'd hate to think general motors could suddenly decide that I owe them money on my blazer I financed back in 2001. Once an account is closed, that should be it. I don't see how they can just sort of change thier mind and reopen it. Thats why I think I'm not really required to pay this money, I think they are just trying to get it out of me. Once an abatement comes through, it will probably only be like $60 I owe them, which is probably far less than getting legal advise on the subject, so I might just pay it once that happens, we'll see.

newtoleasing2

36-month term, 12K miles

kyfdx

If you read through your lease contract, you'll probably see all sorts of language about taxes, and who is responsible for them. (Hint: it isn't the bank).

Really, it is your local government authority who is levying the tax. And, the only reason for it, is because the car is registered for your use, in your city, county, state, etc... It really isn't the bank's problem, other than the bill comes to them, instead of you. If the tax is owed, you'll have to pay it.

Hopefully, you can get the amount reduced. In my state, you would owe for the entire year, regardless of how long you had the car.

Good luck!
kyfdx

stumbler

In Florida if were purchasing a car for say $38,795 and had a trade in worth $15,000 and still owed $15,000 I would only pay sales tax on 23,795. If I were to use the same scenario but, leasing should I be receiving a tax credit or rebate on the sales tax of the trade in value i.e. 5% X 15=750.00. Awaiting answer from sales person. I'm not sure I would believe him any way.

CarMan@Edmunds

Hi pellepelle. Well, if the books value your Jetta at $4,000 to $5,600 and you only owe $4,300 on it you are in pretty good shape. You don't appear to have much negative equity in your Jetta and should be able to trade it in when you lease your new car without having to pay much extra, if anything at all. If you are having a lot of problems with your Jetta, I personally would be inclined to trade it in now. Clean your car up so that it looks nice, but I personally wouldn't sink any more money into it before trading it in. You're only going to be able to squeeze so much money out of a trade that has well over 100,000 miles on it.

Don't worry about missing out on the lease support that Acura is providing on the TL. I just had an opportunity to take a look at its new May lease program and the TL program is similar to what it was like in April.

Car_man
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CarMan@Edmunds

Hey Pellepelle. It wouldn't hurt to work with the same dealer as your friend when negotiating the lease on your new TL, but if you are a savvy shopper who was going to get a good deal anyhow it probably won't make much of a difference.

Car_man
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CarMan@Edmunds

Hello Roubaix. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers 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 this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be glad to give you my opinion of this deal if you let me know what these numbers are.

Car_man
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CarMan@Edmunds

Hi thedork. If was personally in the market to lease an Acura TL, I would shoot for a selling price of around $500 over invoice. Definitely make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Acura TL: Prices Paid & Buying Experience".

Let's take a look at the TL's new May lease program. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura TL without navigation with 12,000 miles per year are .00093 and 56%, respectively for consumers who qualify for its "Super Preferred" credit tier. I gave you the 36 month numbers because it appears as though they will result in a lower lease payment than the 24 month numbers.

Both the Acura TL and the Infiniti G35 are nice cars. Make sure to drive both of them before you decide which one to go with. I personally would pick the Acura TL, but I am more of an Acura / Honda guy than a Nissan / Infiniti guy.

Car_man
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CarMan@Edmunds

What you were told is correct, sassoun. Individual dealers do not have the authority to alter banks' published residual values. They are often allowed to mark up vehicles' money factors to add additional hidden profit to deals though.

Car_man
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CarMan@Edmunds

Hi stumbler. I am not familiar with Florida's specific sales tax rules regarding trade-ins and leasing. Having said this, I suspect that you will be able to take advantage of the sales tax reduction that trading in your current vehicle provides even if you lease.

Car_man
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mikeyj1

Hi, I was wondering what i should expect to pay for a lease on a TL w/ Nav. I went to a dealer last weekend and was quoted the following offer:

$540/mo including tax (6.5 where I live)
and $700 due at signing.
(15K miles / year)

To me, that seemed pretty high. Am I right about this, or is this what I should expect. (I was expecting it to be between 460-480/month).

benincharlotte

I see that people list the sales price of a car but for a lease, is it possible to find out what actual payment terms people paid for a 2007 TL w/navigation?

kyfdx

Acura TL: Prices Paid & Buying Experience

topgun7

Benin,

"is it possible to find out what actual payment terms people paid for a 2007 TL w/navigation?"

don't quit understand your question. YOu are already in the lease forum.. So just flip back a couple pages and you will find what other are paying for lease...

eitan56

Car Man: Coming of a lease on my 04 TL. I have 2 more payments. $455/mo 42 mos. 15K mi/yr. Zero down through Honda Finance. Sales tax was 6% then. Had to trade in a clunker.

You helped me with that deal, and I thank you for your guidance.

Looking for similar deal; 36 mo lease on base TL. 15k mi/year...No down payment...just first month & fees. I live in No NJ. Sales tax is 7%.

Wonder if dealers or Honda would skip my last 2 payments. I'm within allocated mileage @ at approx 47K. Returning customer, good credit score.

Lease my 04 at Open Road Acura in Wayne. Any feedback on other local dealers; Ramsey, Montclair, Park Ave Acura?

Hope you're all enjoying your TL's!!