Karen, you'll need to call a couple of wheel/tire companies in your market to see if they purchase used tires and wheels. Obviously, you'll get more for the tires if you haven't driven on them. I drove my car directly from the dealership to the tire company, so the tires only had 50 miles on them. I was given $500 for the wheels and tires combined. I got my great deal from the Mission Viejo, CA. dealership and had three other dealerships within the SoCal area calling me to match that deal. Now is the time to buy.
I think you have your new RL for 10-12 days now. How do you like this car? I am currently looking for a 2005 RL to buy or lease. I went to 2 local dealerships, and they all ask for list price ($49970) with no free options. I live in central NJ. I think you got a great deal, paying only $48500 including destination charges and 4 options.
Would you please tell me where you got this deal? Or if anyone in the NJ area knows the best deal offered by the local dealerships? I prefer not to go out too far away to get a deal, unless it really means big savings/bargain.
By the way, I am the new kid on the block. I can use all the help I can get. If I cannot get the RL at a discount (similar to yours), I am thinking about a 05 Accord EX (the fully loaded one). I stand to save some $22000 and the only things I will miss would be the AWD. Any advice?
Just bought a 2005 RL in the NY area for $48,150 including destination and with no added options. Dealer claimed it was the lowest price they had sold the car. Other local dealers were all willing to get pretty close to that price.
Thanks for the valuable info. At $48150 including destination it sounds a great deal. Do you mind telling me where you purchased your 2005RL? Can I send them an email asking for a free quote? Also, do you like this car? Would you share your driving and ownership experience with us?
I placed a FREE QUOTE on the 05 RL to Acura of Ocean earlier today but have not received a response (other than an automatic response) after 12 hours. I then posted #104 on the forum and received news from rl newbie (#105) that he/she just bought a 2005 RL in the New York area for $48,150 including destination. Even though it is $1800 off the list price, I still think it is high. Did anyone pay less than that?
I am still awaiting for some of you to give me some advice as to wait for the RL to come down more in price or go ahead to buy an 05 Accord EX V6 to save some $22000. Would anyone please help me out by offering some advice? Give some pro's and con's for both cars, please.
The new TL's interior and trunk spaces are smaller than the Accord with a price tag $7000+ more. The name (Acura) and the look may be better than Accord. Features-wise they are almost identical. I think I can use the extra money saved, knowing fully it would be a step down. Appreciate your advice, bodble2.
Still have no FREE QUOTE from Acura of Ocean (NJ)after more than 24 hours.
I just received an email from a manager of Acura of Ocean. They had a bad accident causing the phones completely off until tomorrow. However, she asked me to give her a competitive price instead of offering me a FREE QUOTE. She also stated they have been selling the RL at sticker price. So I stopped. I am looking elsewhere now.
I consider the 05 RL because I am driving an 02 RL. Prior to that I had a 96 RL and before that a 93 Legend. I also had a 2000 Accord EX V-6 (FULLY LOADED). I kept it for 18 months and traded it for the 02 RL. I get used to getting $4000+ off the sticker price of the RL. It is hard for me to accept the full price.
Both Accord and TL are made locally while the RL is made in Japan. I believe Japanese and German build better cars. To me the TL is only cosmetically better than the Accord, and as such is not worth $7000+ more.
With all due respect, I'm not sure if you're giving the TL its due credit. The TL does have quite a few tangible features the Accord lacks -- VSA, memory seats, manumatic, zenon headlights, voice command, DVD-audio, user-programmable light, security and other features, trip computer, service minder, 30+ hp, noticeably better interior material quality, bigger wheels and tires. (Have I missed anything?)
And in regard to the trunk space, I think numbers could be deceiving. I managed to pack (albeit carefully) 2 sets of skis and boots, and luggage for 4 for a 4-day ski trip without using a roof rack or roof carrier. The enclosed hinges allow you to pack the trunk right to the rafter, which probably adds at least 1 cubic foot of useable space to the trunk.
As much as the Accord is a value-leader, I actually think the TL is a better value overall.
I guess I was wrong on the new TL. I did not pay attention to the new features (I believe 04 was the completely redesigned model with all the upgrades)and only noticed the smaller dimensions and trunk space. My mind was preoccupied with the previous model. To the owners of the new TL I offer my sincere apology. Next time I go to test drive the RL, I'll take a hard look at the TL.
Now let's go back to car value. With another good car added to the shopping list, which one delivers the best value(relatively speaking), the RL, TL or Accord? I am more confused than before.
>>Now let's go back to car value. With another good car added to the shopping list, which one delivers the best value(relatively speaking), the RL, TL or Accord? I am more confused than before.
Bottom line, probably the Accord offers more value. However, I have an 05 RL and a good friend has an 04 Accord which I've ridden in a number of times. His accord is a perfectly good car, especially for the money. However, there is no comparison with my RL for quality of materials, ride, comfort, quiet, electronics, etc. Whether all that is worth an extra $25K, or so, only you can decide.
As far as the TL goes, it's a fantastic car. It's nearly as quiet as the RL, and has about the same amount of room. However, the RL offers more gizmos than the TL, especially the SH-AWD, which is fantastic. For me, one of the killers for the TL is my long legs and the automatic steering wheel in the RL. After nine years of driving a Legend, which I loved, and having to crank my right knee under the steering wheel, I wouldn't even consider a TL, for that reason alone.
Is the RL worth the extra money over the TL or the Accord - that's a personal decision. For me, it was no contest.
Please head over to our Sedans Comparisons board. Let's reserve this discussion for talking about pricing and the actual purchase experience.
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I just got a price of $48,470 from a dealer in NJ. has anybody got a better price then that! and I have a 2003 TL Type S with Nav. and to me it looks a lot better then the new TL plus I see alot of the new RL in my TL.
I visited two dealers, one in Eugene and the other in Salem and was told the new RLs were going for list. I then contacted Autoland through my credit union and they were able to get me my new RL for $47,707. That included delivery and a cargo net.
My car actually came from Eugene, Kendall Acura, and I'll be going back there for service. Nice bunch of folks.
Congratulations! That sounds like a great deal! Was it because end-of-the-year discounts or that's discreet negotiation by Autoland? What color combo did you get?
I received $47,500 an internet special price from Paragon Acura in Woodside, NY. I got it in nighthawk black with black ebony interior. I purchased it as fast as I could at that price. And it included destination...
I think the broker is just used to dealing with the fleet managers and so was able to get the price. I was actually surprised that the car came from a nearby dealer because the broker said for Acuras they often go to California where dealers are more willing to negotiate.
I chose the carbon gray with ebony interior. I wish I could have seen the opulent blue but I really did like the carbon gray.
I think you're absolutely right about California Acura dealerships more willing to negotiate. My deal of $48,500 that included destination, wood steering wheel, wood gearshift knob, rear deck spoiler, trunk tray and protection package (mud guards) still seems to be the best deal out there. Surprisingly, after I had made my purchase, I had three other SoCal dealers calling me stating they would match the offer I got. I would highly recommend working with the fleet managers or internet managers to negotiate the best deals.
Paragon Acura in Woodside, NY $47,500, including destination.
Go to there website and click on contact and then write them an email asking for their lowest price. They also have a great many RL's in stock. I just picked mine up yesterday! Loving my RL this weekend!!!
Just picked up my Lakeshore Silver RL (taupe interior) Tuesday. Drove to Detroit that day for the Design Forum at the Auto Show. Rainy weather the whole trip and around Detroit on Wed. Back to Ohio Thursday. It still looks great. It is an awesome color -- clean or "dirty." In fact, it is an awesome car. Much to learn, but shared the driving with two other "car guys" who were equally impressed.
BTW, has anyone had success getting the factory 18" wheels at cost and then fitting with them with other tires? Even though the wheels and tires are priced separately, my dealer seems to want to sell them together.....at list. Doesn't make sense to me. I think I'll get it done, but I don't know why he's reluctant. Any insight?
It is difficult to get a good price in NJ; I tried two NJ dealerships and got nowhere. Acting on the advice of kacurat, I emailed to Paragon Acura in NY and got quick response. The price is $47500. I also asked for the leasing options and talked a very friendly person over the telephone. Here are leasing terms:
1) With $4000 down (everything included in the 1st month)
$685 a month for 36 months (35 more payments)
$637 a month for 48 months (47 more payments)
2) With $8000 down (everything included)
$560 a month for 36 months (35 more payments)
$543 a month for 48 months (47 more payments)
3) With $10000 down (everything included)
$499 a month for 36 months (35 more payments)
$494 a month for 48 months (47 more payments)
The residual value is $28197 for the 36 month lease and $23250 for 48 months. I was told the interest rate is 5%.
So the monthly lease price is not $900 plus as quoted by other people in this forum. Would you please comment on the leasing terms?
I am still thinking whether to buy or lease this car, or just buy an 05 Accord to save quite a bit of change.
>>I am still thinking whether to buy or lease this car, or just buy an 05 Accord to save quite a bit of change.
The Accord is a nice car, but it is hardly the same as driving an RL. If it really doesn't make any difference to you, then you should by all means buy the Accord! You really shouldn't be looking at luxury cars.
I don’t post too much on here as I am just a lurker, but am considering a RL myself. I have leased my last 3 vehicles and it seems these amounts are very high. The 36mo residual % is 57% and 47% from what you stated which is in the ballpark, but the payments don’t compute right in my opinion regarding the big cap cost reduction you mention(4k,8k,10k) and the 5% rate you mention
I am in Indiana and we pay tax of 6% on the calculated monthly payment, BUT I am excluding that from my numbers. Ie, the payment per month below is cost of depreciation per month + financing charge $ per month = total montly payment before, at least in IN, the taxes are added to the monthly payment.
I ran the numbers at 36mo and 48mo using the above residual % with NO cap cost reduction and .00208 money factor(5.0%). I started with 47,500 as the Gross cap cost and I get depreciation per month payment of 536.17 for 36mo and 505.19 for 48mo and the financing cost per month of 157.45 for 36mo and 147.16 per mo. When adding the to get total per month I get 693.62 and 652.35. This is if I just went in and did the deal at 47,500 with NO $ paid down. If I pay (4k,8k or 10k) cap cost reduction these payments would be even less.
Maybe I am comparing apples and oranges as I don’t know how taxes are done in NJ or I am missing some of the info, but I feel this payments are high. By the way on my last three vehicles I have leased I have been able to come home after getting a good deal and emulate the lease calculation in excel down the the penny so I feel like I am calculating this correctly from all the info I have on the surface. I am invested in this as I am in the market for a new RL and to get the best possible lease price I can.
Hope that helps and I apologize in advance if I missed some of the info regarding these numbers.
You did not miss anything; I just didn't give all the info. I thought the amounts were high too. Here is the rest of the data for the lease:
1) All monthly payments include 6% NJ sales tax and gap insurance. In NJ the tax is paid each month (with the monthly payment). So, the $637 monthly payment, for example, means $600.94 plus sales tax.
2) The breakdown of the initial payment of $4000 is:
$595 bank fee,
$299 DMV fee,
$152 doc fee,
$637 1st month payment (tax included),
$2317 cap cost reduction.
3) Using the above formula, the $8000 initial payment would include $6317 cap cost reduction, and the $10000 initial payment has $8317 cap cost included.
With the above additional info, would you still the interest rate is higher than 5%?
I also inquired about the financing terms. I was quoted 4% for both the 48 month and 60 month terms. For example, for a $30000 loan, the monthly payment is $685 for 48 months, and $550 for 60 months. If I took the loan option, I could save 1% on interest, $595 on bank fee, and the disposition fee at the end of the lease.
Which one is better, leasing or purchase? Appreciate your comments.
There are really no leasing incentives on the RL right now, to make that a compelling choice over financing... The only advantage is to lock in future depreciation..
If they can give you 4% for 60 months, that is the way I would go..
Also, I notice some of the assumptions are for a selling price of $47,500... Is anyone actually getting that? Add $1000 to the selling price and the lease payment goes up $30/mo.
You should never make a cap cost reduction on a lease.. It looks like your payment with acquisition fee rolled in to the cap cost, and no cap cost reduction, would be about $750/mo, tax included.. Which is typical for a $50K car with no incentives.. No compelling reason to lease, IMO, unless you are sure you want to sell in three years.
Using your added info and assuming your “agreed upon price of vehicle is 47,500 and not msrp I calculate the following using your residual % and 5% interest not including 6% tax.
Agreed upon price = 47,500
Bank fee 595
Doc fee 152
DMV fee 299
Gross cap cost 48,546
Cap cost reduction (2,317)
Adjusted Cap cost 46,229
So your payment of 4k when made covers first month payment 637+595+152+299 leaving the rest for cap reduction. Calculating it this way I get total before tax payment of 599.56 for 48mo add in tax and it is 635.22 which is real close to your 637 you mention. I didn’t realize your 637 had tax INCLUDED in it.
Overall it seems at least in the 48mo scenario it 5% interest is being used. However for the 36mo I calculate the total payment with the 6% tax included to be 661.91 not the 685 you mention for the 36 month at 4k due at signing example.
Keep in mind I assuming your agreed upon price is 47,500 so you are getting 1,970 off of mrsp right from the start.
Whether leasing for 48mo or buying for 60 is better that is a personal opinion, but even though I can afford to finance I like to lease as I like a new car every 3 or 4 years. Having said that even though I am going to lease I am waiting until I can a deal the agreed upon price closer to invoice and then start there as I don’t like to put any money down on a lease as all it does is just lower the payments. I would rather keep that down payment in my account.
If you decide to go for the 48mo my calculation is close to your 637mo, but if you decide to lease at 36 I would question why you don’t come in with a total payment around 661 given all the variables stated as 24 per mo x 36 = almost 900 dollars nothing to sneeze at
Bottom line is make sure you analyze fully the “motor vehicle lease agreement” before signing the lease.
Sounds like you are also happy with the Taupe interior. I am trying to decide between the taupe and the black interior color. (exterior - trying to decide between:
- lakeshore silver
- white
- celestial silver
The black looks very very good but I live in Alabama and it gets very hot and "humid" here in the summer.
(still wish Acura would add "cooled" seats for the U.S.)
I have not really had the opportunity to see the taupe interior...the one I did see still had the plastic covering the interior.
I have the taupe interior with celestial silver-literally talked into it by my wife AND my dealer (with the option to change cars if I didn't like it) well they were soooo right!!!! BTW, I saw the silver with ebony interior on the floor when I picked up my car.
Couldn't be happier with the color choice or the car. Best of luck with your car; I'm sure whichever color combo you pick, you'll love the car.
The taupe interior is great, especially with Lakeshore Silver and the colors you're considering. Not too light (shows dirt) or too dark (hot in summer). You won't be disappointed.
I, too, wish Acura offered ventilated seats. Two other items I think should exist as standard equipment on a $50K car are rain sensing wipers (which my Mini has) and power adjustable pedals (which my Pacifica has).
Still wondering if anyone has succeeded in buying factory 18" wheels without the standard tires?
On the 18" wheels? You might try calling the parts department directly, and asking them how much it is to buy one, if you happen to bend one of yours... Then, you could put the stock wheels/tires on ebay, to recoup part of your cost..
IOW, you can buy from the parts department, and leave the sales department out of it..
I test drove the RL yesterday and today and am close to making an offer. Does anyone know the true cost of the options (wood steering wheel, gear shift and spoiler) to the dealer. I want all the options but dont want to offer too much. This is a cash deal. I have noticed that most of the dealers inventories are stacking up out here in southern california. Thanks
I learned that these words, BTW do not matter to the dealer. They consider all deals "cash deals" as they get paid for the car no matter how. In fact they like financing better as they make interest on the car.
The advantage to mentioning that it's a "cash deal," however, is that the dealer knows you're a serious buyer who can purchase today. There won't be any hang-ups in the deal due to higher-than-expected payments, or lack of ability to obtain desired financing.
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bodble2 is right -- assume about a 20% markup on the accessories. I got the color matched splash guards, the wood gear shift knob and the winter mats thrown in pretty easily. They wanted $350 (cost of the part, no labor, I was told) for the spoiler, but I finally got that, too, and cemented the deal.
Dealers don't actually get interest on financing, but they do get a fee from the financing entity for handling the paperwork. That is $100 from Honda America and up to $700 from a bank. Some dealers will throw that profit into the deal. Even if you want to pay cash, you can finance, take the $700 discount, pay off the loan within 30 days with no penalty or interest and you're $700 ahead.
Depending on the aftermarket accessories - you can price/purchase them at H&A - click the H&A ad banner above the title of the discussion. You can see pricing there.
FYI, Marin Acura has seven RL's on their lot and NO dealer markup stickers in their windows. A month ago those stickers were there showing a dealer markup of $2,500. Hmmmm.
The Honda dealer next door had a zillion Accords. Honda, what's wrong????
After requesting quotes from 13 local Southern Ca. dealers through the Acura.com web site I received responses from 11. Their prices ranged from a high of $49,247 to a low of $45,600. I ended up buying my RL from Keyes Acura in Van Nuys for $45,600 with wheel locks and splash guards included. Other dealers that would have sold for this price included Thomas Acura in Covina and Power Acura of South Bay. Tustin Acura quoted $46,000. I was pleasantly surprised how easy it was to get written quotes on-line from these dealers and also got them to compete against other dealer's bids once they started rolling in. Now is a good time to buy. The dealer didn't really like making so little on the sell but they are in business of selling cars. I bought the Lakeshore Silver with Taupe interior and it looks great! Good luck.
I purchased an '05 RL 2 weeks ago and this was to replace the BMW 5 series. While I am not sure if we will keep it, I find it to be a very nice car. This is my wife's daily driver and she makes the decision if she wants to keep it or get a new MB E350 or BMW 530 with the new R6 engine. As it stands now she loves it.
Now the deal!
Went to dealership and went straight to the sales manager and told him that I was interested in an 05 RL. Lakeshore/ Ebony or Taupe, wood steering wheel, wood shift knob, and trunk tray installed and included. I will take vehicle home today and my offer driveout is $49K. This put my car at $1800 over invoice with accessories included. Nothing more, nothing less. He looked at me funny but then looked outside at my Porsche and probably guessed that I was serious. He said he could not do it. I said thank you, no problem and reached to shake his hand while saying goodbye. He never shook my hand and then said come sit down in my office, I kindly said I dont have time for it and turned to walk away. He ask me to stop for a moment and come to his office and give him 4 minutes. I told him that I would give him that much time but if the offer is anything else we are not going to be able to complete this transaction. After 3 minutes of working his numbers, he wrote the order and the deal was processed. I called my credit union and they told them to give me the car immediately and they had a courier send the purchase order over before I left 2 hours later(They have an existing relationship). I had to wait on the car to be prepared for make ready and sign paperwork. Accessories are on back order and will be installed on Monday.
Comments
Karen, you'll need to call a couple of wheel/tire companies in your market to see if they purchase used tires and wheels. Obviously, you'll get more for the tires if you haven't driven on them. I drove my car directly from the dealership to the tire company, so the tires only had 50 miles on them. I was given $500 for the wheels and tires combined. I got my great deal from the Mission Viejo, CA. dealership and had three other dealerships within the SoCal area calling me to match that deal. Now is the time to buy.
Would you please tell me where you got this deal? Or if anyone in the NJ area knows the best deal offered by the local dealerships? I prefer not to go out too far away to get a deal, unless it really means big savings/bargain.
By the way, I am the new kid on the block. I can use all the help I can get. If I cannot get the RL at a discount (similar to yours), I am thinking about a 05 Accord EX (the fully loaded one). I stand to save some $22000 and the only things I will miss would be the AWD. Any advice?
Thanks for the valuable info. At $48150 including destination it sounds a great deal. Do you mind telling me where you purchased your 2005RL? Can I send them an email asking for a free quote? Also, do you like this car? Would you share your driving and ownership experience with us?
I am still awaiting for some of you to give me some advice as to wait for the RL to come down more in price or go ahead to buy an 05 Accord EX V6 to save some $22000. Would anyone please help me out by offering some advice? Give some pro's and con's for both cars, please.
Still have no FREE QUOTE from Acura of Ocean (NJ)after more than 24 hours.
I bet Acura of Ocean, NJ has a phone.... and would probably be happy to give you a quote, if you called.
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I just received an email from a manager of Acura of Ocean. They had a bad accident causing the phones completely off until tomorrow. However, she asked me to give her a competitive price instead of offering me a FREE QUOTE. She also stated they have been selling the RL at sticker price. So I stopped. I am looking elsewhere now.
I consider the 05 RL because I am driving an 02 RL. Prior to that I had a 96 RL and before that a 93 Legend. I also had a 2000 Accord EX V-6 (FULLY LOADED). I kept it for 18 months and traded it for the 02 RL. I get used to getting $4000+ off the sticker price of the RL. It is hard for me to accept the full price.
Both Accord and TL are made locally while the RL is made in Japan. I believe Japanese and German build better cars. To me the TL is only cosmetically better than the Accord, and as such is not worth $7000+ more.
And in regard to the trunk space, I think numbers could be deceiving. I managed to pack (albeit carefully) 2 sets of skis and boots, and luggage for 4 for a 4-day ski trip without using a roof rack or roof carrier. The enclosed hinges allow you to pack the trunk right to the rafter, which probably adds at least 1 cubic foot of useable space to the trunk.
As much as the Accord is a value-leader, I actually think the TL is a better value overall.
Now let's go back to car value. With another good car added to the shopping list, which one delivers the best value(relatively speaking), the RL, TL or Accord? I am more confused than before.
Bottom line, probably the Accord offers more value. However, I have an 05 RL and a good friend has an 04 Accord which I've ridden in a number of times. His accord is a perfectly good car, especially for the money. However, there is no comparison with my RL for quality of materials, ride, comfort, quiet, electronics, etc. Whether all that is worth an extra $25K, or so, only you can decide.
As far as the TL goes, it's a fantastic car. It's nearly as quiet as the RL, and has about the same amount of room. However, the RL offers more gizmos than the TL, especially the SH-AWD, which is fantastic. For me, one of the killers for the TL is my long legs and the automatic steering wheel in the RL. After nine years of driving a Legend, which I loved, and having to crank my right knee under the steering wheel, I wouldn't even consider a TL, for that reason alone.
Is the RL worth the extra money over the TL or the Accord - that's a personal decision. For me, it was no contest.
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My car actually came from Eugene, Kendall Acura, and I'll be going back there for service. Nice bunch of folks.
I chose the carbon gray with ebony interior. I wish I could have seen the opulent blue but I really did like the carbon gray.
Does anyone have any current pricing and/or leasing experiences in S. Florida? If so, please share your experiences. Thanks in advance!
Go to there website and click on contact and then write them an email asking for their lowest price. They also have a great many RL's in stock. I just picked mine up yesterday! Loving my RL this weekend!!!
Thanks.
BTW, has anyone had success getting the factory 18" wheels at cost and then fitting with them with other tires? Even though the wheels and tires are priced separately, my dealer seems to want to sell them together.....at list. Doesn't make sense to me. I think I'll get it done, but I don't know why he's reluctant. Any insight?
1) With $4000 down (everything included in the 1st month)
$685 a month for 36 months (35 more payments)
$637 a month for 48 months (47 more payments)
2) With $8000 down (everything included)
$560 a month for 36 months (35 more payments)
$543 a month for 48 months (47 more payments)
3) With $10000 down (everything included)
$499 a month for 36 months (35 more payments)
$494 a month for 48 months (47 more payments)
The residual value is $28197 for the 36 month lease and $23250 for 48 months. I was told the interest rate is 5%.
So the monthly lease price is not $900 plus as quoted by other people in this forum. Would you please comment on the leasing terms?
I am still thinking whether to buy or lease this car, or just buy an 05 Accord to save quite a bit of change.
The Accord is a nice car, but it is hardly the same as driving an RL. If it really doesn't make any difference to you, then you should by all means buy the Accord! You really shouldn't be looking at luxury cars.
I don’t post too much on here as I am just a lurker, but am considering a RL myself. I have leased my last 3 vehicles and it seems these amounts are very high. The 36mo residual % is 57% and 47% from what you stated which is in the ballpark, but the payments don’t compute right in my opinion regarding the big cap cost reduction you mention(4k,8k,10k) and the 5% rate you mention
I am in Indiana and we pay tax of 6% on the calculated monthly payment, BUT I am excluding that from my numbers. Ie, the payment per month below is cost of depreciation per month + financing charge $ per month = total montly payment before, at least in IN, the taxes are added to the monthly payment.
I ran the numbers at 36mo and 48mo using the above residual % with NO cap cost reduction and .00208 money factor(5.0%). I started with 47,500 as the Gross cap cost and I get depreciation per month payment of 536.17 for 36mo and 505.19 for 48mo and the financing cost per month of 157.45 for 36mo and 147.16 per mo. When adding the to get total per month I get 693.62 and 652.35. This is if I just went in and did the deal at 47,500 with NO $ paid down. If I pay (4k,8k or 10k) cap cost reduction these payments would be even less.
Maybe I am comparing apples and oranges as I don’t know how taxes are done in NJ or I am missing some of the info, but I feel this payments are high. By the way on my last three vehicles I have leased I have been able to come home after getting a good deal and emulate the lease calculation in excel down the the penny so I feel like I am calculating this correctly from all the info I have on the surface. I am invested in this as I am in the market for a new RL and to get the best possible lease price I can.
Hope that helps and I apologize in advance if I missed some of the info regarding these numbers.
Doug.
You did not miss anything; I just didn't give all the info. I thought the amounts were high too. Here is the rest of the data for the lease:
1) All monthly payments include 6% NJ sales tax and gap insurance. In NJ the tax is paid each month (with the monthly payment). So, the $637 monthly payment, for example, means $600.94 plus sales tax.
2) The breakdown of the initial payment of $4000 is:
$595 bank fee,
$299 DMV fee,
$152 doc fee,
$637 1st month payment (tax included),
$2317 cap cost reduction.
3) Using the above formula, the $8000 initial payment would include $6317 cap cost reduction, and the $10000 initial payment has $8317 cap cost included.
With the above additional info, would you still the interest rate is higher than 5%?
I also inquired about the financing terms. I was quoted 4% for both the 48 month and 60 month terms. For example, for a $30000 loan, the monthly payment is $685 for 48 months, and $550 for 60 months. If I took the loan option, I could save 1% on interest, $595 on bank fee, and the disposition fee at the end of the lease.
Which one is better, leasing or purchase? Appreciate your comments.
Alan7
If they can give you 4% for 60 months, that is the way I would go..
Also, I notice some of the assumptions are for a selling price of $47,500... Is anyone actually getting that? Add $1000 to the selling price and the lease payment goes up $30/mo.
You should never make a cap cost reduction on a lease.. It looks like your payment with acquisition fee rolled in to the cap cost, and no cap cost reduction, would be about $750/mo, tax included.. Which is typical for a $50K car with no incentives.. No compelling reason to lease, IMO, unless you are sure you want to sell in three years.
regards,
kyfdx
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Agreed upon price = 47,500
Bank fee 595
Doc fee 152
DMV fee 299
Gross cap cost 48,546
Cap cost reduction (2,317)
Adjusted Cap cost 46,229
So your payment of 4k when made covers first month payment 637+595+152+299 leaving the rest for cap reduction. Calculating it this way I get total before tax payment of 599.56 for 48mo add in tax and it is 635.22 which is real close to your 637 you mention. I didn’t realize your 637 had tax INCLUDED in it.
Overall it seems at least in the 48mo scenario it 5% interest is being used. However for the 36mo I calculate the total payment with the 6% tax included to be 661.91 not the 685 you mention for the 36 month at 4k due at signing example.
Keep in mind I assuming your agreed upon price is 47,500 so you are getting 1,970 off of mrsp right from the start.
Whether leasing for 48mo or buying for 60 is better that is a personal opinion, but even though I can afford to finance I like to lease as I like a new car every 3 or 4 years. Having said that even though I am going to lease I am waiting until I can a deal the agreed upon price closer to invoice and then start there as I don’t like to put any money down on a lease as all it does is just lower the payments. I would rather keep that down payment in my account.
If you decide to go for the 48mo my calculation is close to your 637mo, but if you decide to lease at 36 I would question why you don’t come in with a total payment around 661 given all the variables stated as 24 per mo x 36 = almost 900 dollars nothing to sneeze at
Bottom line is make sure you analyze fully the “motor vehicle lease agreement” before signing the lease.
Hope that helps,
Doug.
Sounds like you are also happy with the Taupe interior. I am trying to decide between the taupe and the black interior color. (exterior - trying to decide between:
- lakeshore silver
- white
- celestial silver
The black looks very very good but I live in Alabama and it gets very hot and "humid" here in the summer.
(still wish Acura would add "cooled" seats for the U.S.)
I have not really had the opportunity to see the taupe interior...the one I did see still had the plastic covering the interior.
Couldn't be happier with the color choice or the car. Best of luck with your car; I'm sure whichever color combo you pick, you'll love the car.
steve
I, too, wish Acura offered ventilated seats. Two other items I think should exist as standard equipment on a $50K car are rain sensing wipers (which my Mini has) and power adjustable pedals (which my Pacifica has).
Still wondering if anyone has succeeded in buying factory 18" wheels without the standard tires?
IOW, you can buy from the parts department, and leave the sales department out of it..
regards,
kyfdx
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I learned that these words, BTW do not matter to the dealer. They consider all deals "cash deals" as they get paid for the car no matter how. In fact they like financing better as they make interest on the car.
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Just take the list prices of the options (accessories) and subtract 20%. I know they can discount 15% on accessories, easy.
Dealers don't actually get interest on financing, but they do get a fee from the financing entity for handling the paperwork. That is $100 from Honda America and up to $700 from a bank. Some dealers will throw that profit into the deal. Even if you want to pay cash, you can finance, take the $700 discount, pay off the loan within 30 days with no penalty or interest and you're $700 ahead.
Whoa hoo.! .. let me know who the lender is and I'll drop every contract with them guys ... by the way, what country might that be in ..?
Terry.
The Honda dealer next door had a zillion Accords. Honda, what's wrong????
Wonder if we can get a $14,000 discount up here
Now the deal!
Went to dealership and went straight to the sales manager and told him that I was interested in an 05 RL. Lakeshore/ Ebony or Taupe, wood steering wheel, wood shift knob, and trunk tray installed and included. I will take vehicle home today and my offer driveout is $49K. This put my car at $1800 over invoice with accessories included. Nothing more, nothing less. He looked at me funny but then looked outside at my Porsche and probably guessed that I was serious. He said he could not do it. I said thank you, no problem and reached to shake his hand while saying goodbye. He never shook my hand and then said come sit down in my office, I kindly said I dont have time for it and turned to walk away. He ask me to stop for a moment and come to his office and give him 4 minutes. I told him that I would give him that much time but if the offer is anything else we are not going to be able to complete this transaction. After 3 minutes of working his numbers, he wrote the order and the deal was processed. I called my credit union and they told them to give me the car immediately and they had a courier send the purchase order over before I left 2 hours later(They have an existing relationship). I had to wait on the car to be prepared for make ready and sign paperwork. Accessories are on back order and will be installed on Monday.