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2013 and earlier-Acura TL Lease Questions

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  • bignasty1bignasty1 Member Posts: 26
    Hi Carman, here is the MSRP - 33,325
  • kad153kad153 Member Posts: 22
    Can someone help me with the same info. Need residuals and MF through american honda for an 06 TL auto w/nav. Assume 12k per year/36 months.

    Is 30,700+destination the best price i can get on this right now, with the 1k manufacterer to dealer program. I see some people posting 30,800 - is that including destination?

    Also, could someone give me a quick breakdown of the numbers for the monthly payment with 30,700+destination in a 36 month lease? - I'm terrible at figuring leases out. Sales tax in my state is 6%. I'm told Bank fees are 595.

    Thanks.
  • takemetolvtakemetolv Member Posts: 10
    Leaseguide.com should help.
  • takemetolvtakemetolv Member Posts: 10
    Carman, rumor has it that Honda Financial is finally coming out with new lease numbers (MF/residual) later this month. Any insight? :confuse:
  • jms8090jms8090 Member Posts: 30
    Has anyone used any other leasing companies other than Hann or American Honda Financial? I'm curious as the money factors are very high for AHFC and only slightly lower for Hann, who has a terrible reputation for dinging you when you return your car. The posts above referring to Mechanics Bank seem interesting, but they're in California, so I don't know if they work our here in NY. Didn't AAA work with Chase a while back? If so, does anyone know if they are still doing this and what type of money factors they are using. Just for info, it seems that the money factors for AHFC for a 36 month 12k per year lease are .00283 without security waived, or .00293 with security waived. Hann is .00275.
  • cmikefishercmikefisher Member Posts: 9
    I'm trying to work out a lease for a TL w/o navigation. I live in NJ, and have been quoted the following:

    MSRP: $33,995
    Selling Price: $28,995

    Lease via HANN:
    Upfront Costs: $1,242 (Bank Fee, MV/DOC Fee, Tire Fee)
    Monthly Cost: $414 (10k miles)
    Money Factor / Res: .00275 / 67%
    (Hann lease is for 32 months, and has a $450 deposition fee)

    Lease via AHFC:
    Upfront Costs: $1,242 (Bank Fee, MV/DOC fee, Tire Fee)
    Monthly Cost: $450 (10k miles) / $460 (12k miles)
    Money Factor / Res: .00283 (.00293 for 12k) / 56%
    (AHFC has the $1,500 damamge waiver, and $0 deposition fee).

    What are your thoughts on the lease packages proposed? Is there more room for negotiation?
  • the_mistahthe_mistah Member Posts: 3
    06 TL with navi
    msrp 35,995 destination charges included
    30,490 destination charges included
    67% resid. value
    .00293 MF
    payment was around 490.tax included...tax in cali 8.25%
    no money out of pocket
    does this seem right? they were trying to get me at .00299MF.......can someone tell me if the money factor is right....i really wanted to buy it today
  • cmikefishercmikefisher Member Posts: 9
    see above. My MF on my HANN lease quote is .00275.
  • the_mistahthe_mistah Member Posts: 3
    so my payments are still in the high 400's...im trying to get to 450 tax included no money out of my pocket i know its doable but the MF is kinda high..
  • cmikefishercmikefisher Member Posts: 9
    keep in mind that these cars are way overstocked. You should be able to hit 450.
  • the_mistahthe_mistah Member Posts: 3
    i just dont know wich dealer gives them away...lol acura southbay suppose to be good but i dont know hopefully they call me towards the end of the month
  • yfzcentralyfzcentral Member Posts: 2
    Does Honda do a 18-20 month lease? If so, what are the numbers for that? I need this car for school in Boston.

    Thank you guys!
  • steelers4sixsteelers4six Member Posts: 1
    Car_Man,
    You helped me out about 3 years ago when I had a lease vs. buy dilemma (I was steeler_fan then) and it was very much appreciated. I wanted to see if I could enlist your expert assistance once again. I'm considering a 2006 TL/Navi, and I'm looking to lease 36, 39 or 42 months at 15K/year. I made an offer of 32,300+TTL and it was accepted. I'm looking to lease through AHFC and I wanted to see what the numbers look like. I'm in the Dayton, OH area. Thanks!!
  • pakrishpakrish Member Posts: 1
    Hello Car_man,

    Here is what my dealer is offering my on a 2006 Acura TL with Nav.

    36 months/10K mile lease

    msrp 35,950 destination charges included
    Negotiated price = 31,000 destination charges included
    58% resid , .00293 MF
    payment is was around 484.tax included...cali tax is 8.25%

    Local dealers are telling me that this is the best I can get for the 2006 TL since Acura is doing a 1000$ rebate which may go away anytime. Is that true?

    Thanks
  • jms8090jms8090 Member Posts: 30
    So it looks like the special APR financing is gone for certain in not all parts of the US. Does anyone know what the money factors and residuals are for a 2006 TL NAV 5AT? Last I saw was 57% with .00293 if security was waived and .00283 with security deposit. This is with AHFC. Believe it or not, I'm still interested in leasing this car as long as I can get my payments below 500 per month all in.
  • takemetolvtakemetolv Member Posts: 10
    As always, this forum is still the best place for info. Thank you all. Interesting shopping here in Ft Lauderdale.

    Acura of South Florida - the internet manager responded to my email by stating "all quotes are by phone to avoid confusion". :confuse: Really!!

    Ed Morse Acura - got a price on an auto non Nav of 30495 but couldn't get a lease quote

    Rick Case - 457/mo plus tax,10K 36 mo 1286 due, purchase price of 30,500 59% .00293. Could have done better at dealership but getting a hold of salesman and pinning him down was difficult.

    Palm Beach Acura - very straightforward and professional, the internet manager was not going to let the deal get away. Ended up purchasing (I'll post on other board this weekend) but final deal, mainly on internet but completed on phone was 450/mo tax included, 36/12K - $700 due. Main thing was that the manager was responsive to my requests. Forwarded this to Rick Case and they let it walk. Don't know if there might have been additional surprises but unlikely as the purchase was smooth as silk. This was last month and residual has gone down this month.

    Nice car, good deal, everyone's happy. But doing things over the phone to avoid confusion - now THAT'S a line that all internet car shoppers can really appreciate!
  • jbihun1jbihun1 Member Posts: 16
    I have been negotiating with a dealer in Chicago and had him send me the final #s that we arrived at and the corresponding fees et cetera. Here's the details:

    Miles per year: 12,000
    Price: $31,500
    Trade: $7,500
    Payoff: $6,600 (approx.)
    Doc Fee: $57.33
    Taxes: $1625.56
    License and Title: $168.00
    Money Factor: .00293
    Residual: .55
    Payment: $568.38

    The issue is, if you use his MF and Residual I get $506 a month. See here is my math:


    35,853 (MSRP) * .55 (RESIDUAL) = $19,719.15

    $31,500 + $57.33 + $1625.56 + $168.00 = $33,350.89 - 900 (value in trade) = $32,450.89 (CAP COST)

    $19,719.15 + $32,450.89 = $52,170.04 * .00293 = $152.85 (monthly cost of $$)

    $32,450.89 - $19,719.15 = 12,731.74/36 = $353.65 (monthly cost of depreciation)

    Payment = $152.85 + $353.65 = $506.59

    SO SOMEONE PLEASE TELL ME, am I calculating it right?

    Regards,

    Jason
  • jms8090jms8090 Member Posts: 30
    Just saw this in my local paper yesterday in NY Metro Area:

    24 Month Lease
    $399 per month, 10k per year for base TL
    Money factor .00136 which equals approx 3.2%
    $1005 down payment
    ----------------------------------------------
    I have confirmed that this is in fact an AHFC lease program. What I wanted to do was this:

    Take the money factor and incorporate it into an '06 TL NAV 5AT with 12k per year lease.

    Here's what I came up with:

    Nothing down (zero, just tags, title) so our of pocket would be first month plus a few hundred.

    I was told that the lease would be approx. $560 per month for two years, everything wrapped in (taxes,bank fee, etc).

    Residual is 64%

    I was hoping for better as the money factor sure beats the .00283 or .00293 that has been quoted here. However, the shorter time period takes away from that. I was also told that the 1k incentive does not apply here. If that were the case, this car would be in the $500 range for two years. Not a bad deal at all. So, this car continues to be a terrible car to lease.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, tlwannabe. This car's lease payment will depend upon how long you lease it for and its mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. According to my calculations, if you were to lease a 2006 Acura TL without navigation with an MSRP of $35,525 and a selling price of $32,200 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $499.

    If you haven't leased yet you may be interested in the fact that Acura just introduced a special 24 month lease program on this model in select states for the month of September. This is the first time in a long time that I recall seeing any special money factors on this car. If you tell me what state you are in I would be happy to tell you if it is one of the ones that this special program is available in.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, shellz. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Acura TL with navigation and with 12,000 miles per year are .00283 and 54%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    If you haven't leased yet you may be interested in the fact that Acura just introduced a special 24 month lease program on this model in select states for the month of September. This is the first time in a long time that I recall seeing any special money factors on this car. If you tell me what state you are in I would be happy to tell you if it is one of the ones that this special program is available in.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, bignasty1. OK, so you are interested in leasing a 2006 Acura TL without navigation with an MSRP of $33,325 and a selling price of $29,800 with the security deposit waived and Honda Finance's $595 acquisition fee rolled into the cap cost. According to my calculations, the 3 year, 12,000 miles per zero down, pre-tax monthly payment for this car would be around $462.

    If you haven't leased yet you may be interested in the fact that Acura just introduced a special 24 month lease program on this model in select states for the month of September. This is the first time in a long time that I recall seeing any special money factors on this car. If you tell me what state you are in I would be happy to tell you if it is one of the ones that this special program is available in.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kad153. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Acura TL with navigation and 12,000 miles per year are .00283 and 56%, respectively. For information on how much you should pay for this car right now, stop by the following discussion to see how much other community members have paid for similar cars lately: "Acura TL: Prices Paid & Buying Experience".

    I would be happy to estimate what this car's monthly payment should be for you. I assume that this car's full MSRP is the typical $35,995 that an '06 TL with navigation and an automatic transmission would cost. Using this MSRP and a selling price of $30,700, I estimate that this car's 36 month, 12,000 mile per year, zero down, pre-tax monthly payment should be around $437, assuming that you qualify for Honda Finance's "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    The rumor is true, takemetolv. Acura just introduced a special 24 month lease program on this model in select states for the month of September. This is the first time in a long time that I recall seeing any special money factors on this car. If you tell me what state you are in I would be happy to tell you if it is one of the ones that this special program is available in.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello cmikefisher. The selling price that you were quoted for this car looks very attractive to me. The Hahn Financial lease program that you were quoted is more attractive than the Honda Finance lease program. However, I have never leased a vehicle through Hahn before so I don't know if they will try to make up the cost of this aggressive lease program by nickel and diming you to death when evaluating the condition of your vehicle at lease-end. Either way, it doesn't appear as though there is much room left for negotiation here.

    If I was in the market for this car, I personally would take advantage of the special 24 month lease program that Honda Finance just introduced on the 2006 TL. This program is only available in certain states, but New Jersey is one of them. Through this new special, Honda Finance's buy rate lease money factor is cut to .00136.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Mistah. The dealer invoice price of the car that you are interested in is $32,875. You were quoted a selling price of $30,490, which is $2,385 below invoice. This is a very good price for this car. The money factor that you were quoted is right in line with Honda Finance's buy rate for this car for consumers who qualify for its "Super Preferred" credit tier and who have their security deposit waived. If you like the car, I personally don't see any reason not to pull the trigger on this deal. The aforementioned enhanced 24 month lease special is not available in the state of California.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi yfzcentral. The shortest lease term that I have seen available for leases through Honda Finance is 24 months. Honda recently introduced a new special 24 month lease program on the 2006 TL which is a very good deal. This program is only available in select states, but Massachusetts is one of them. In your area right now, Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2006 TL without navigation with 15,000 miles per year are .00136 and 65%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome back, steelers4six. You are in luck, Acura recently introduced a special lease program on the 2006 TL in select states. Ohio is one of them. This program is only for 24 month leases though. Honda Finance's current buy rate lease money factor and residual value for a 24 month, 15,000 mile per year lease of a 2006 TL with navigation are currently .00136 and 63%, respectively. I can give you an idea of what this car's 36 to 42 month numbers look like as well, but Honda Finance's money factor for those terms is more than double the special 24 month factor so you would definitely be best off going with a 24 month lease right now.

    Car_man
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  • jms8090jms8090 Member Posts: 30
    Carman,

    Can you confirm that the $1k incentive on the TL is NOT available with the 24 month lease? Two dealers have told me that this is so. If it is, I'd imagine that getting a TL NAV would be very attractive. I have been told that the special money factor is in lieu of the 1k and most dealers are trying to sell the car at invoice or slightly above. Thanks

    jms8090
  • fsudreyerfsudreyer Member Posts: 28
    Car-man, I live in florida. I would love to know if this special lease deal is available here. I am interested in the tl with nav. I have a selling price of $31,600 incl dest and fees. Could you make up a payment for me if this special lease rate is in effect. Thanks, William
  • bignasty1bignasty1 Member Posts: 26
    Car_Man,

    I am in RI. Still haven't made the purchase. Thanks.

    The Big Nasty.
  • djdezdjdez Member Posts: 110
    Car_Man -- how long is that special money factor scheduled to run ??

    Also -- I was interested in what the money factor/residual would be for 24 months and 12,000 miles - I'm in Philadelphia ... And what about the 1K incentive ?

    Thanks !!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pakrish. While it is unusual that Acura is providing dealer cash on the TL, this is one of the vehicles that it desperately tries to sell without providing any support, once a manufacturer introduced a cash incentive on a leftover model it is very difficult for them to eliminate it. While it is difficult to say exactly what an automaker will do with its future incentives, I personally believe that it is very unlikely that the $1,000 dealer cash that is available on the 2006 TL will just disappear.

    The selling price that you were quoted for this car is very attractive and the money factor that you were quoted is right in line with Honda Finance's current buy rate for it for consumers who qualify for its "Super Preferred" credit tier and have their security deposit waived. If you like the car, I personally do not see any reason not to pull the trigger on this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jms8090. For the month of September, Acura introduced two new regional incentive programs on the 2006 TL. In some parts of the country it is offering 2.9% - 4.9% special financing on it and in other parts it has a special 24 month lease on it. The money factor that you mentioned is still the same for the parts of the country that do not qualify for the new special lease program. Honda Finance's buy rate is enhanced to .00136 for 24 month areas in states that have the new special lease program. If you tell me what state you are in I would be happy to tell you which special program is available in your area.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new car takemetolv. Thanks for taking the time to let us know how your deal turned out. I'm glad that you find this forum so helpful. It looks like the only "confusion" that the first dealership that you mentioned avoided is the "confusion" of getting your business. Enjoy your new ride.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Jason. There's nothing wrong with trading in your current vehicle when leasing a new one. However, it is in your best interest to have the dealer you are working with cut you a check for any equity that you have in your trade instead of using the proceeds from it as a down payment for your lease. I always advise community members against making down payments on leased vehicles because if their vehicle is stolen and never recovered or totaled in an accident, their down payment essentially disappears.

    Let's work up a lease payment on this car to compare to the one that you were quoted by the dealer. According to my calculations, if you were to lease a 2006 Acura TL without navigation with an MSRP of $35,853 and a selling price of $31,500 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $478. With the $57.33 doc fee, $1,625.56 in taxes, and $168.00 for license and title added to your car's cap cost, the payment jumps to around $534. If you were to use the $900 in equity that you have in your trade as a down payment, which as I mentioned earlier I advise against, it would drop this car's payment to around $507.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    That is correct, jms8090. The $1,000 dealer cash that is currently available on the 2006 Acura TL is NOT compatible with the new special 24 month lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Unfortunately, William, Florida is one of the states that Acura is offering 2.9% - 4.9% financing on the 2006 TL instead of this special 24 month lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey bignasty1. Rhode Island IS one of the states that this new special 24 month lease program is available in.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi djdez. I believe that Acura's new special 24 month lease program on the 2006 TL is scheduled to run through October 31st. The $1,000 dealer cash incentive that is available on this car is NOT compatible with the special 24 month lease promotion. Honda Finance's current 24 month, 12,000 mile per year buy rate lease money factor and residual value for a lease of a 2006 TL without navigation in your area are currently .00136 and 66%, respectively.

    Car_man
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  • jbihun1jbihun1 Member Posts: 16
    OK thanks...you are right, I should not put any money down on lease. It's like prepaying rent..no need.

    However, I heard back from the dealer and he said his manager explained to him how the lease payment is calculated and that his manager would call me to explain why I (and you) came up with ~$507 and he came up with $568 a month. This sounds like a bunch of bull...

    Question for the group...are residuals (in this case 55%) always calculated against the MSRP or the price paid minus incentives? What is the actual practice?

    Jason
  • kyfdxkyfdx Moderator Posts: 237,123
    ..is always multiplied by the full MSRP.

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  • jbihun1jbihun1 Member Posts: 16
    Ok, this forum has been hugely helpful. First the good news for my story...I sold my car that the dealership was prepared to buy for $5k, for $10k. Now the bad...I need a new car...

    I called another Acura dealer in Chicago giving him a chance to beat the price of the car I have at anohter (TL with NAV, MSRP $35,853) $32,500 (no incentive cash). The dealer told me he has a better deal after being very interested in what the other dealer calculted the payment to be. He basically said I could get the same car for $570 a month on a 24 month 12K 0 down lease. THIS SOUNDS OUTRAGEOUS. If I do the math, the payment on a 24 month with a 66% redsidual and .00136 MF with all taxes and fees rolled in would be like $485. What gives?

    Are there fees I am missing? Can someone verify my math?

    Thanks again for everyone's help,

    Jason
  • kyfdxkyfdx Moderator Posts: 237,123
    Chicago? did you add $95/mo. for sales tax?

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  • jbihun1jbihun1 Member Posts: 16
    $95 a month?
  • jms8090jms8090 Member Posts: 30
    Jason,

    If you read some of my posts earlier in the month, I was trying for the same thing: 2006 TL NAV 12k per year, 0 down. I came up with $560 per month in NY. Here's the deal though: Your residual is off by 2 points. I was quoted 64% residual. This may account for the differnce in your lease. Those numbers are not that far off (570). This is a short term lease, so your only options are to wait it out and try for the car at a lower price (to get dealer into their holdback). If they would sell you the car for 31,800, which is is a profit of zero, I still think that your payment would be in the $520 per month area. This is not a bad deal considering it's only 24 months.
  • kyfdxkyfdx Moderator Posts: 237,123
    Illinois taxes the entire purchase price of the car, even on a lease.

    No kidding...

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  • tdjtdj Member Posts: 5
    Car Man,
    Can you clarify Acura's current lease promotion? I'm looking for a 2006 TL 5AT w/nav in the Northern Massachusetts area. Several posts give conflicting info. How many miles are allowed in their 24 month promo? Post 429 says 10k/year, post 438 says 15k.
    Looking for best deal with $0 down. Would go with 24 or 36 month, whichever is better deal. Also - does Mass tax entire car or just the payments?

    Any help is appreciated. Thanks.
  • cygnus7070cygnus7070 Member Posts: 1
    I've been going back and forth for the past 6 months, deciding if I want to get the TL. I just got an e-mail special from Island Acura in Wantagh for a 2006 TL(no navi)for 32 months/32k miles, no money down, no security deposit for 399.95/month(tax extra).

    I haven't looked at this post for a while, so I don't know if Acura's current res. value and money factor make this deal attractive or not.

    Thanks in advance,

    Gregg
  • jms8090jms8090 Member Posts: 30
    Gregg,

    Sounds like a Hann lease, not from American Honda Financial. Keep in mind that MANY of the salespeople I've spoken to tell me that Hann is very tough when you return your car and that they really try to hit you with fees for minor scratches, etc. You might be better off going for the 24 month deal that is currently available from AHFC. I bet it would not come out to much more and you can return the car much earlier. Also, the money factor is going to be less on the 24 month lease. Good luck.
  • murcielagomurcielago Member Posts: 4
    Car_Man, great forum. Question for you:

    Looking at the TL and a BMW 2003 530i CPO... Tough choice but today i'm edging more toward the TL. Peace of mind is important, although the appeal of the 5 series is indelible.

    Anyway, can you tell me what are the current parameters (resids, MF) for 36 & 48 month leases through Honda Finance? I'm in Southern California.

    Also, do you prefer one term over the other? Why?

    Thanks a bunch
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