2013 and earlier-Acura TL Lease Questions

robertw477 · May 2006

If you put down 4K on a 36 month lease it makes t a 500.00 a month car. I think the TLs are too high. I am in S. Fla. Infiniti seems to have a slightly lower price for the G35 with premium package. Even with NAV they are less than the TLS. With you driving 10K miles a year I think leasing would be a great idea but get the right car lease. Maybe the TL is not worth the hassle. I had a great deal a few years ago and went with the TL. Now they want alot more so I will probably find another car. I was a great long term customer for American Honda for many years as well.

Rob

rcoketguy · May 2006

All,
Any Central Florida TL leasors or buyers and CarMan's opinion,

Email quote for '06 auto, w/Nav (w/Protection Pack)
Price $32,900
36 month/ 12k miles
$4400 down payment
$429+tax monthly

This seems like a fairly good deal, judging by posts of those who DID get a TL. CarMan, what is a reasonable down payment?

billyperks1 · May 2006

$0.00 is a reasonable down payment.

For the numbers you quoted your monthly payments for the life of the lease is actually $551.00 plus tax.

That seems more like an RL payment,take that $4400.00 and finance the TL, you would be better off in five years.

kod33 · May 2006

I agree whole-heartedly with billyperks1. A true lease value is one with 0 down and a monthly payment that is less than what it would be to buy the car and finance over a similar length of time.

Acura seems to defy this logic with their expensive TL lease offers, but yet enough people have obviously taken the bait - otherwise the offers would have improved by now. That being said, for all the TL has to offer standard - especially when compared to the pricey optional packages (hello BMW) of other makes - the car is priced competitively. If you can buy it for invoice, I think you're getting a great vehicle and value at a great price.

mere08 · May 2006

Hi Car_man,

I would like to get your input on my recent lease. I just leased a 2006 TL w/ Navi this weekend. Here are the terms:

MSRP: 35,940
Negotiated Price: $35,170 (Actual price was invoice but I rolled in $2,350 in negative equity on my trade - what can I say - I really wanted the TL!)
48-month lease
12K miles per year
Residual: 48%
Money factor: 0.00265
Money Down: $750
Monthly Payment: $543.69

The dealer added pinstriping and wheel locks as a perk.

The dealership was Priority Acura in Virginia Beach. I had also worked with Hall Acura in Newport News, but they offered me $500 less on my trade and would only come down to $400 over invoice on the TL. Priority was much more willing to negotiate.

What do you think?

oregunguy · May 2006

I understand going from 15,000 miles/year to 12,000 will increase residule by 2%. What is the residule change going to 10,000/year?
Interested in TL with Nav; 36 or 42 month lease.

geddyl · May 2006

Has anybody dealt with generalcar.com? The deals are good but I want some references.

Thanks

robertw477 · May 2006

Those prices look incredible. i have seen other sites that offer low prices but when you call it is a completely different story-much higher price, cap cost reductions etc. One thing I noticed that can give them an out. It says all prices are based on tier one credit. If they want to charge you more they could tell you that you dont have tier one credit. If they are for real the prices are great. Hopefully another person on the board has experience with them.

Rob

mishman1 · June 2006

I emailed them. No response. Doesn't sound too reliable to me.

robertw477 · June 2006

Oh well. You got to wonder when you see a some of the sites. I wonder what the goal of the site is if the deals dont exist?

Rob

CarMan@Edmunds · June 2006

Thanks kod33. 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.

The fact that you do not want to put anywhere near $4,000 down when leasing is very smart. It is never a good idea for consumers to make large down payments on leased vehicles. In the event that your leased car or truck is stolen and never recovered or totaled in an accident, your down payment essentially disappears. Unfortunately, eliminating the down payment on this lease will cause its monthly payment to increase. You can eliminate part of the increase by negotiating a lower selling price than the advertised lease is based upon. This shouldn't be hard to do, especially in an area that has a decent level of competition like Boston. Most manufacturers' advertised lease payments leave a little meat on the bone so to speak. I'm not saying that you'll be able to get another couple thousand dollars off of this car's price, but you should be able to get some additional discount.

You're right about other manufacturers having more attractive lease programs on their vehicles. Acura's current lease program on the TL is terrible. Dealers in many areas are literally swimming in them and are begging Acura to introduce a special program on it. It is difficult to say whether Acura will introduce a special lease program on the TL. More likely, it will come out with some sort of dealer cash, $500 to $1,000, at the very end of the model year to help dealers unload leftover models. Even this is no sure thing. If I was in the market to lease a TL right now, I would take a long look at its competition to see if I could get a better payment on something that is just as nice.

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CarMan@Edmunds · June 2006

Hi rcoketguy. The best down payment to make when leasing is $0. Consumers are free to lease any vehicle that they want without making any sort of capitalized cost reduction. You can lease the TL that you are interested in and only have to pay its first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, Honda Finance's $595 acquisition fee, and any required state taxes or fees. If you want, you can even have your car's security deposit waived in exchange for an increase of .00010 in the money factor that is used to calculate its monthly payment and roll the $595 acquisition fee into its capitalized cost. It is never a good idea to make a large cap cost reduction when leasing because if your vehicle is totaled in an accident or stolen and never recovered, your down payment essentially vanishes.

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CarMan@Edmunds · June 2006

Congratulations on your new car, mere08. Dealer invoice is an excellent price for an '06 TL, plus the dealer that you got your car from used Honda Finance's buy rate money factor to calculate its monthly payment. This is the best deal that you probably could have gotten on the TL right now given its poor lease program.

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CarMan@Edmunds · June 2006

Hello oregunguy. The residual values of vehicles leased through Honda Finance with 10,000 miles per year are 3% higher than its 15,000 miles per year residuals.

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gms1329 · June 2006

Car_man, I am very interested in the 2006 Acura TL, but I've read several messages where you refer to the Acura lease program as "bad". I definately understand why, but I'm wondering who in your opinion is currently running a better lease program for cars in this class?

robertw477 · June 2006

Im not car man but I just returned my 2003 Acura off lease to American Honda. I like American Honda but they used to be much nicer to me. They would give me a free month on a new lease etc. I ended up getting an Audi A4. I suggest looking at Infiniti G35, Audi A4 in this class for a better deal. Check out their websites. There are some specials posted but check these boards to see what others are paying etc. I think the Infiniti was good but you need to get premium package or the car is kind of stripped. Same deal with the Audi. Good Luck
Robert

kod33 · June 2006

Thanks for the thoughtful reply, Car_man. I actually decided against leasing the TL due for all the reasons we both expressed. That said, I love the car and think its a tremendous value when you compare it to other near luxury makes and the cost-to-what-you-get-in-return ratio. So I decided to buy, did my homework, and bought a Black 2006 TL 6MT with Navi for $20 below invoice at $32185. Haven't taken delivery yet, but also secured 4.49 % financing for a 60 month term at a local CU, so I think I made the right move all things considered.

CarMan@Edmunds · June 2006

That's a good question, gms1329. The problem is that the lease programs for much of the TL's competition have gotten worse as well. The BMW 3-Series' program is a little more attractive than the TL's is right now, but it's not great either...especially compared to the support that has been available on it in the past. Audi has much more lease support on the A4, but its residual values are worse. Cadillac's lease program on the CTS isn't bad. Infiniti's current program on the G35 is much better than the TL's. Jaguar has got tons of lease support on the S- and X-Types, they can't give them away right now. Lexus isn't providing any sort of lease support on the ES 330 either, so its lease program is about the same as the TL's. However, Lexus is providing its dealers with $1,000 dealer cash to help them unload leftover models. Saab has decent lease support on the 9-3. Lastly, Volvo has a pretty good lease program on the S60. Well, that sums up the lease programs for the TL's major competitors that I thought of off of the top of my head.

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CarMan@Edmunds · June 2006

You're very welcome, kod33. The Acura TL iss definitely a great car, it's just not a good one to lease. I think that you made the right decision to buy yours. You got a great price and a great interest rate, too. Enjoy your new ride!

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oregunguy · June 2006

Car Man-
Any insight to what next month will bring in regards to lease support?

minicoopr · June 2006

OK..from what I have read here many people don't feel the Acura lease is too good of a deal. I have a friend who wants to buy a TL (in TX) and the dealer is telling him this:

Get the lease and there the MFG throws in some money to reduce the dealer's cost. Then after a few months of leasing, convert the lease to a sale. They are claiming he will save a lot of money by not having to pay the 6.25% sales tax on the conversion of the lease to a purchase? That sounds fishy to me, and I have no experience leasing. Does anyone out there have any feedback on this proposed deal??

Thanks!

afs1 · June 2006

I am considering a TL lease with Nav for 36 months in CT. Does anyone know what I can expect to pay for maintenance during this period? I am comparing to the BMW 330i lease which includes maintenance and I want to determine how much more the BMW really is.

robertw477 · June 2006

Zero. Other than tires-which are porbably not covered on the BMW lease. The major stuff is still under warranty. The 10K mile checkups etc are not covered but that is a minimal cost from a regular auto repair guy.

Rob

anonymousposts · June 2006

It is true that you don't pay Sales Tax upfront on a lease in most states. However, most states do charge you Sales Tax when you buy your lease out. This was the case when I purchased my 04 Accord from AHFC before the lease ended. I would check with AHFC and your local DMV to see if leases purchased from the finance company are taxed.

CarMan@Edmunds · June 2006

Hi oregunguy. It's difficult to say what Acura's lease program will be like on the TL in July. As they continue to pile up at dealers every month I keep thinking that Acura will eventually have to introduce some sort of support on them, but so far it hasn't. Even if Acura was to introduce support on the '06 TL in July, this late in the model year it probably wouldn't be a new special money factor but rather some sort od dealer cash, say $500. As I said though, it's tough to say exactly what will happen.

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CarMan@Edmunds · June 2006

Hi afs1. The only maintenance that you really have to perform on a leased vehicle is oil changes every 3,000 miles or so. Don't waste your money on doing anything else. The cost of an oil change varies depending upon where you get it done, but for the sake of this discussion let's say that it costs $30. Now let's assume that you drive 12,000 miles per year. Over 3 years, this would be 36,000 miles or 12 3,000 mile increments. Multiply 12 by $30 and we get a total maintenance cost of $360 over the life of your lease. this will be even less if you stretch it a little bit and go longer than 3,000 miles between changes or pay less per change. As you can see, the maintenance cost of leasing a new vehicle is very low.

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trustworthy · July 2006

I live in a suburb of Washington, DC. I own a MB E320 AWD (2001) with 51,000 miles. I am thinking of trading it in on a 2006 TL auto with Nav. I love gadgets and tend to get tired of cars after 3 or 4 years. i drive around 9,000 miles a month. I like the TL except for the wide turning radius but I can live with that because I like the price, the radio, the BT and the Nav.

A local dealer quoted a price of $32,915 plus T&T out the door. Is this a good price? I take good care of cars and am thinking of asking for a lease based on this price. I think AHFC offers a lease with 10,000 miles a year. Would this be wise or foolish? Should I wait for a 2007 TL, which I hear will have some changes?

I could really use some help from people with more experience with the marketplace for this as I am out of touch having been out of the car market for nearly six years!

maximafan · July 2006

Trustworthy, if you're driving 9,000 a
month, then leasing would not be the right
way to go for you. I think you meant 9,000
a year, correct? If so, you'll probably
be okay with a 10k per year lease. I
requested 15k a year on my lease and I will
probably be okay. I've been averaging
around 14k a year on my lease. If you
decide to lease, make sure the lease doesn't
extend past the expiration of the warranty.

That's the one thing I wish I had done
differently. My lease was too long and I'm
past the warranty on my car. Good luck!

trustworthy · July 2006

Yes, I meant 9k miles a year, not per month. Sorry! Does anyone know roughly what lease payment I would be paying with zero drive off costs? Sales tax is 5%.

CarMan@Edmunds · July 2006

Hi trustworthy. The dealer invoice price for a 2006 Acura TL with navigation is $32,820. As you can see, the price that you were quoted, $32,915, is very good because it is right around invoice. A 10,000 mile per year lease would be fine, as long as you don't plan on driving your car more than that. If you think that you will drive more than 10,000 miles per year, it would be less expensive to go with a 12,000 or 15,000 mile per year lease than to have to pay an excess mileage penalty at the end of your deal. If I read your post correctly, you drive a whopping 9,000 miles a month! Did you mean per year? If not, then leasing probably isn't for you. Acura's lease program for the 2006 TL is pretty bad right now anyhow. If I was in the market for this car, I probably would not lease one but would finance instead or wait until the 2007 model arrives and see if its higher residual values make it any less expensive to lease.

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CarMan@Edmunds · July 2006

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.

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trustworthy · July 2006

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@Edmunds · July 2006

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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jwright503 · July 2006

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.

tlwannabe · July 2006

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.

atl7775 · July 2006

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... : )

bignasty1 · July 2006

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?

billyperks1 · July 2006

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 · July 2006

I don't think you can use the $1500 damage waiver towards excess mileage charges...

atl7775 · July 2006

I wasn't aware of a $1500 damage waiver. Can you tell me more? Thanks for your help!

bignasty1 · July 2006

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.

mnoker · August 2006

Anyone have the Mf and residual for the month of Augest?

CarMan@Edmunds · August 2006

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@Edmunds · August 2006

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@Edmunds · August 2006

My partner in crime, kyfdx, is right. The $1,500 excess wear and tear allowance cannot be used to pay vehicles' excess mileage penalties.

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CarMan@Edmunds · August 2006

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@Edmunds · August 2006

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.

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CarMan@Edmunds · August 2006

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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tlwannabe · August 2006

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!

shellz · August 2006

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.

2013 and earlier-Acura TL Lease Questions

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