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2013 and earlier-Acura TL Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Ahhhh, 9,000 a year is much more like it, trustworthy. Let's use Acura's current lease program to estimate what your payment should be for this car, According to my calculations, if you were to lease a 2006 Acura TL with navigation with an MSRP of $35,940 and a selling price of $32,915 through Honda Finance right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment should be around $484. If you opt to have your car's security deposit waived and its $595 acquisition fee rolled into its capitalized cost so that you do not have to pay them at lease signing, the monthly payment for an otherwise identical lease would increase to around $507.

    Car_man
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  • Thank you, Car_man. That's very helpful.

    I read in earlier posts that you think it's better to buy than lease a TL now. I really only want to keep the car 3 years. I could use my 2001 MB 320E AWD as a trade and that would reduce the amount of sales tax I'd have to pay. And I think Acura is offering 2.9 percent financing but I don't actually need to borrow.

    What would you recommend?

    This is a great forum. Thank you for moderating.

    Also, car_man, how big an issue do you think the rattling problems are with the TL? This would drive me crazy.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, trustworthy. If I personally was in the market for this car right now I probably would be inclined to finance it using Honda's special APR. Interest rates on investments have gotten a lot better lately. By financing your TL, you can keep the money that you would have laid out for your car in a money market or CD and earn more than 2.9% on it. Rattling in cars, especially brand new ones certainly would be annoying. I personally don't think that this is a huge problem in TLs, but you better take a look in the following discussion to find out for certain: "Acura TL: Problems & Solutions".

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  • carman, i was hoping that you could tell me the formula for figuring out leases. I am in the market for a few cars, and i would like to know how exactly the purchase price relates to lease payments. thank you in advance.
  • tlwannabetlwannabe Posts: 7
    I live in Dallas, TX and I just received an offer for an '06 TL w/ nav for $32,450. This price includes window tint, wheel locks and theft guard. Carman, could you calculate what the lease payment on this vehicle would be, with nothing down? He also told me that his boss said that no deal is too ridiculous to bring him, so bring him any deal I want and he would take it to his boss and see what he says. How low do you think I should try to go on this deal? FYI, he doesn't know that I want to lease it yet. I'm trying to get the price down first.
  • atl7775atl7775 Posts: 2
    Hi! I am ready to turn in my 03 TL and I am about 4,500 miles over my lease (obviously, leasing is not for me!) What are the chances that my dealer will waive the overage charges if I buy a new TL? Is this a common negotiating point? Thanks for any and all help... : )
  • bignasty1bignasty1 Posts: 23
    Going 4500 miles over on a lease, what will that cost you? $700 at most? sounds like a good deal to me. If you bought it, how much money would you have into it right now? what would your trade be?
  • billyperks1billyperks1 Posts: 151
    Also, Honda allows you $1500.00 to cover expenses at the end of a lease.So, I am guessing you can put a part of that $1500.00 towards the excess mileage.
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,889
    I don't think you can use the $1500 damage waiver towards excess mileage charges...

    Moderator - Prices Paid, Lease Questions, SUVs

  • atl7775atl7775 Posts: 2
    I wasn't aware of a $1500 damage waiver. Can you tell me more? Thanks for your help!
  • bignasty1bignasty1 Posts: 23
    Carman -

    Could you help me out determining a lease price on a TL? Sales price is 29,800. 3 years, 12k miles, no deposit, and roll in the acquisition fee. Any assistance would be greatly appreciated.
  • mnokermnoker Posts: 28
    Anyone have the Mf and residual for the month of Augest?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi jwright503. Here are links to two very informative articles on leasing that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. The second one contains the formula that you are looking for. Let me know if you have any other questions.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Greetings tlwannabe. I would be happy to estimate what the monthly payment should be on the car that you are interested in. However in order for me to do so I need you to provide me with its MSRP. Both the MSRP and selling price (which you have already mentioned) are necessary for this calculation. In mid-July Acura introduced $1,000 dealer cash on the 2006 TL. This is not surprising because many dealers are just swimming in them. If you are in an area that has a decent level of competition, I would not be surprised if you were able to get an '06 TL for around $750 under dealer invoice once the dealer cash is taken into account. Make sure to stop by the following discussion to see how much other community members have paid for this car recently: "Acura TL: Prices Paid & Buying Experience".

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    My partner in crime, kyfdx, is right. The $1,500 excess wear and tear allowance cannot be used to pay vehicles' excess mileage penalties.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi atl7775. Basically the $1,500 damage waiver means that Honda Finance is very lenient when evaluating the condition of vehicles that it is getting back at the end of leases. I have always found Honda Finance to be very forgiving when evaluating leased vehicles, even before it instituted its $1,500 excess wear and tear waiver policy. One's leased Honda or Acura would probably have to be pretty messed up to have to pay an excess wear and tear penalty.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello bignasty1. I would be happy to estimate what your car's monthly payment should be for you. I have all the information that I need to do so except for this car's MSRP. Let me know what it is and I'll crunch some numbers for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I sure do, mnoker. This car's lease program varies depending upon how long you lease it for and how many miles per year you are allowed to drive it. Since you didn't mention either of these variables for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. These are pretty common terms. Let me know if you want a different length lease or mileage allowance. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Acura TL without navigation with 15,000 miles per year are .00283 and 56%, respectively assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Don't forget about the $1,000 dealer cash that Acura is currently providing on this model when you negotiate your car's selling price.

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  • Hi Carman, thanks for your response. The MSRP is $35,325. The selling price has changed a little as well. He is now offering $32,200 which includes floor mats, window tint, wheel lock, theft guard, and Ipod connector. Please let me know how much this lease would be with nothing down. Thanks!
  • shellzshellz Posts: 33
    Hello Car_Man,

    I saw that you posted the residuals and money factor for the 2006 TL w/o navigation system. I'm interested in a TL with navigation system for 36 months and 12k miles a year. Can you provide the residuals and money factor for this car?

    Thanks.
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