2013 and earlier-Acura TL Lease Questions

azn_boi

Car_Man,
I got the following quote from a dealership, is this a good deal?

Miles per year: 12,000
Price: 29,150
Out of pocket due at sign in--$634
Monthly Payment: $478
Payoff: $29,150-($478*36months)=$13,486

Thank you!
Don

murcielago

Does your monthly include tax? Also you should confirm the payoff amount - it doesn't look right since the $478 pmt includes the money factor, right?

nicole_d

Hi, I was wondering if you could help me in a leasing negotiation. I have been dealing with the Acura Dealership in Boardman, OH on a 2006 TL no navigation, 10k a year. I don't know much about negotiating a lease, but I'm trying to hold fast to my offer. I wanted no money down (I'm currenty leasing a 04 honda accord and though that my lease loyalty would be good with acura also)and a payment of $400 + tax a month. I just read that I should negotiate the price of the car as well, which I did not do yet. Would I insult the salesman if I wanted a deal with 0 down, $400 + tax a month, 10 K mile/year, 36 months. He is currently offering $2000 down, 455 w/tax a month, 42 mos, and 10k mile/year. I know I am ignorant by saying, I have no idea what he's offering with the cost of the car or the interest rate on the lease. He also said that they will assume the lease of my honda, but that the initial down payment on the honda will not transfer. What do I do and what am I doing?

Thanks!

CarMan@Edmunds

Congratulations on getting so much for your current car, Jason. Consumers usually can get more for their vehicles by selling them on their own instead of trading them in. Great job.

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CarMan@Edmunds

Hi tdj. Acura's current 24 month advertised lease payment for the 2006 TL allows 10,000 miles per year. However, you are free to lease this car with more than this, say 12,000 or 15,000 miles per year if you think that you will need the extra miles. The special regional lease that Acura is currently running on the 2006 TL is only good for 24 month terms, so you definitely do not want to lease for longer than that.

As far as sales tax goes, the last time that I checked, In Massachusetts charged sales tax on vehicles' entire lease payments on a monthly basis. For example, a lease payment
of $316 taxed at 5% would bring the total monthly payment up to $331.80. I believe that Mass residents also have to pay personal property tax of 2.5% on the value of the whole car.

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CarMan@Edmunds

Hi murcielago. No Lamborghini for you ? Both of the cars that you are considering are very nice, but I always personally lean towards leasing new cars over used ones. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2006 TL without navigation with 15,000 miles per year are .00283 and 55%. The numbers for an otherwise identical 48 month lease are .00283 and 45%. Either term is fine. The 48 month term will result in a lower monthly payment, but you are forced to lease for a year longer. Acura's best deal for this car is a special 24 month lease that it is running on it in certain states. This promotion provides a money factor and residual value of .00136 and 65%, but unfortunately California is not one of the states that the special 24 month lease program is available in. Instead, California residents are eligible for 2.9% to 4.9% special financing on the 2006 TL.

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CarMan@Edmunds

Hi azn_boi. I would be happy to give you my opinion of this deal, but I need some additional information from you first. What is this car's full MSRP, how long is this lease, and what state are you in. The state is important because Acura is running a special 24 month lease promotion on the 2006 TL right now that is only available in certain areas. Let me know and I'll tell you what I think.

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CarMan@Edmunds

Hi Nicole. It sounds like you are new to leasing. If that is the case, 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.

When is your Honda lease scheduled to end? You would be much better off waiting until the scheduled end of your current lease to get a new vehicle. The Acura dealer that you are working with cannot just make your current car's payments disappear. Unless it is worth more to them as a trade than its lease would cost to buy out right now, which is unlikely, the Acura dealer is probably baking the cost of your remaining lease payments into your new lease.

If you are set on getting a new Acura now, negotiate as low a selling price as possible on it and then have the dealer that you are working with calculate its monthly payment using its buy rate lease money factor. You should be able to get an idea of how much you will have to pay for the TL that you want by visiting the following discussion: "Acura TL: Prices Paid & Buying Experience".

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tdj

Thanks. So does the money factor stays the same regardless of milage as long as I stick to 24 months? I'm guessing the residual drops - can you tell me the residual on 24 months at 15,000 miles/year?

As for the tax, I know about Mass "excise tax". It's typically billed in the mail a month or two into the lease.

Thanks again.

bigchief

What are the top 5 Best lease deals for the least amount down and the most miles (15K, and a range between $200/m - $400/M). I am looking for something to hall two kids a cat and 1 dog!, but I have not really seen any good deals except maybe for a Nissan Altima? The Volvo 60 was $1K down and $389/m for 10K. Just curious since I am a novice at leasing?

scottyb1

Hi everyone,
I'm looking at an '06 6-speed with Nav. Problem is that I have about 2k negative equity on my current car to roll in. How far below invoice (if any) can I negotiate my cap cost to make this work? They are willing to still give me the .00136 money factor on a 2 yr 24k mile lease so I want to jump on it. I figured if I get it to 34k (including the trade-in) I'll be just shy of $500/mo with my trade rolled in and tax which would be perfect. Any help would be GREATLY appreciated!! Thank you!

ej1111

Im in the exact same position, what residual value are you using on the 24m lease? im looking for automatic, do yo uknow id the residual is different? regardless, let em know what yo uare using for a residual, im trying to figure out how you get an under 500 paymnet if the purchase price ends up at 34k, thankS!

scottyb1

I was using 65% residual. I'm not sure if that's even right. what do you think? I just punched everything into the calculator on leaseguide.com and got a payment (with tax) of 495/mo. Let me know what you think. Thanks!

ej1111

ok me too. using a 65% residual and the 0.00136 mf on a 24 month lease im getting a payment of 520 pre tax. i have a lease spreadsheet that i have used for years that always seems to be acurate, but you never know!

scottyb1

Hey Eric, check your email. I sent you the screenshot from the lease calculator I was using. Let me know if I screwed something up. Thanks again!

amid

Hi carman,
Hope you can help me. I need a TL 24 month lease special
in PA. with 15k/yr, no money down, dealer said must pay
$1264.00 in capital cost reduction as part of the program. Selling car for $31,059 with $188.00 markup which comes to $31,059. Acqisition fee $595. the MSRP of car is $33,995. Dealer using .00136 MF and residual of 65%. Dealer came up with $463 payment per month. This car has no navigation. My question is dealer says that's the price of car for program, should I pass? Thanks Andrew

jzam04

Guys and gals, help me not get the shaft here.

The run down:
I've been looking into getting a TL for quite some time, and the lease deal has sent me over the edge and I finally went to see them today. Found the one I want, and when I asked if the deal was still available, they didn't even know about it at the dealer.

I showed them the offer on the site, the salesman ran it by the sales manager, and they said yes. So, I asked how muchw as the total down... he came back with a figure of about 3800. I kind of jumped out of the seat and he said "it all depends on the credit".

I'm 100% positive I will qualify for the best tier, and i was wondering what else, plus the advertised 2199 should i have to pay?

Here are the terms of the lease:
FEATURED LEASE: Closed-end lease for 2006 TL Automatic Transmission (Model UA6626JW) for $399.00 per month for 36 months with a $1,205.00 capitalized cost reduction available to customers who qualify for the AHFC super preferred credit tier. Other rates/tiers are available under this offer. $2,199.00 total due at lease signing (includes first month's payment, security deposit, acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

I'll be going back tommorow, and any help would be appreciated.

CarMan@Edmunds

No problem, tdj. Correct, the buy rate money factor for this car will be the same for 24 month terms, regardless of what other aspects of this lease you change. Honda Finance's current 24 month, 15,000 mile per year residual value for a 2006 TL without navigation is 65%.

I'm not all that familiar with how Mass' "excise" tax works, so I can't help you out there.

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CarMan@Edmunds

Hi scottyb1. If you are in an area that Acura is providing lease support on the 2006 TL, I doubt that you will be able to negotiate a selling price that is much, if any below dealer invoice. If you are in an area that doesn't have lease support, you can take advantage of the $1,500 dealer cash that is currently available on this car to negotiate a selling price that's below invoice. Make sure to stop by the following discussion to see how much other community members have paid for this car lately: "Acura TL: Prices Paid & Buying Experience".

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CarMan@Edmunds

Hi Andrew. While consumers are never required to pay a capitalized cost reduction on leased vehicle, if you choose not to make one your car's monthly payment will be higher than if you had. To be honest with you, you are actually better off not making a cap cost reduction when leasing. Consumers who do risk losing it if their vehicle is totaled in an accident or stolen and never recovered.

The money factor that you were quoted for this car is right in line with Honda Finance's current buy rate for it. This is a good thing because it means that the dealer you are working with is not marking up its factor to add additional hidden profit to your deal. $188 over invoice, if that is the price that you are really getting, is a good deal as well. You can look up the dealer invoice price of this car in the following section of this site to double check the numbers that you were quoted: Edmunds.com - New Vehicle Pricing.

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CarMan@Edmunds

Hi jzam04. Consumers are never required to make down payments on leased vehicles. You can and should lease this car without making any sort of capitalized cost reduction. Of course, if you choose not to put any money down, your monthly payment will be a little higher than the advertised payment. You can help lessen this a little bit by negotiating as low a selling price as possible. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Most manufacturers' advertised lease payments leave a little meat on the bone so to speak. I would not be surprised if you were able to negotiate a lower selling price on the TL that you want than the one that was used to arrive at its advertised lease payment. If I was in the market for this car, this late in the model year I would shoot for $500 or less over dealer invoice.

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darballman1

I beg to differ with the poster who stated that one cannot get below invoice for a 2006 TL. Last week, I had two dealers here in Southern CA who quoted me $ 28,450, and $ 28,555 repectively. No way should anyone be paying a penny over invoice for a 06 TL.

07buyer

Hey All,

I currently have a 2003 TL Type S w/ Nav that I leased in November of 2002 for $460/month (4 years, 18,000 miles per year) with $2,000 down payment.

Any chance I'll be able to get a similar deal on a 2007? I am not sure where to begin on the 2007 in terms of residual, etc.

Thanks!

bradb007

Need any advice you might offer on a lease. The following is the lease quoted by Vandergriff acura in Dallas.

residual 55%, term 36mths, down payment $1,000, 15k miles a year, money factor .00380
monthly payment $539.62

The buy price for comparison is:
All TL's are on clearance right now. You can purchase a 2006 Non-Navigation TL for $29,987 including tint, wheel locks and destination. + $50 document fee and TT&L.

Any ideas on which is a better deal if I was indifferent to buy vs lease? How does this lease stack-up against others being offered with lower money factors?

Thank you!

CarMan@Edmunds

I don't believe that I ever said that one can't get an Acura TL for less than dealer invoice. What I said was if I was in a part of the country that Acura is running its special 24 month lease promotion in, this is a regional program, I would Consumers who are in an area where this special regional lease program is not available or who choose not to take advantage of it should be able to negotiate a selling price that is well below dealer invoice by taking advantage of the $1,500 dealer cash that is currently available on leftover TLs.

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CarMan@Edmunds

I would be happy to give you an idea of what sort of lease payment to expect on a 2007 Acura TL, 07buyer. According to my calculations, if you were to lease a 2007 Acura TL with navigation with an MSRP of $36,795 and a selling price of $35,295 (a $1,500 discount) through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $436. I used 36 months for this lease instead of the 48 month lease that you currently have because Honda Finance's 36 month lease program is significantly better than its 48 month program. I assumed a $1,500 discount on this car. If you are able to negotiate a larger discount than this, your payment will be lower. For additional feedback on how much you should pay for this car, make sure to stop by the following discussion: hbstiger, "Acura TL: Prices Paid & Buying Experience" #, 17 Jul 2003 9:11 pm.

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CarMan@Edmunds

Hi bradb007. The selling price that you were quoted is reasonable. It appears to be around $1,000 under dealer invoice, which is really equivalent to around $500 over once the $1,500 dealer cash that is available on this car is taken into account. This is fine if you want to finance this car. However, if you decide to lease, the money factor that you were quoted for this car is too high. Honda Finance's, Acura's captive finance company, current buy rate lease money factor for a 36 month lease of a 2006 Acura TL is only .00280 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Make sure to insist that the dealer you are working with uses that factor to calculate your lease payment.

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franklyn

Are you seeing those $1500 discounts on new 07's? Or does that refer to the discount now being offered on 06's?

jsark994

Car Man:

Can you please clarify the figures in your calculation for an '07 TL / with Navigation. Everything follows along in sequence as explained but the payment seems way too low. I am referring to post (#490) as stated:

MSRP - $36,795.
DISCOUNT - $1,500.
SALES PRICE - $35,295.
MILEAGE - 15K
TERM - 36

In order to get to the pre-tax payment posted ($436.), I am assuming an MF% of roughly .002 (4.8%) and an RV% of roughly 66%. I have yet to check with any dealerships, but I think either the RV% is too high, or Honda Finance is pushing a strong rate incentive. IMHO this is a smokin payment for this car; please confirm when you have a free minute.

Thanks !

John S. / MI

jivaro

I was inquiring with a local dealer if they had any special leases on the 2006 TL w/ Nav. I assumed at this point in the year there might be some special offerings. I live in New York where the tax rate is 8.25% and was given the following information from the dealer and was curious as to whether this sounds good or bad at this point in the year. I was more interested in the 12K a year lease. Maybe I can do just as good on a 2007?? Any thoughts would be appreciated. Thanks.

Term 36 months
Miles 15K/yr
Residual 52%
Money Factor .00300 (super-preferred)
Money out of pocket $2,688 + plates
Monthly payment $516

12K miles/yr
Residual 54%
Money out of pocket $2,618 + plates
Monthly payment $498

bigaronson

I'm looking to lease a 2007 Acura TL Type S w/ Navi. Just started the process but the numbers seem high. I was quoted 649/mo for 39 month lease, no $ down, 15,000 miles a yr based on a cap cost of $36,400 with a $22,000 residual. This is through a private lease broker not through Honda Financial where I will check next. I know the S just came out but what should a reasonable payment be for this car - I am in the Chicago area. Thanks.

billyperks1

You can lease a Lexus GS350 without Nav right now for $599.00 pre tax with about 3k down.I am not saying this is a good deal, but you get more car with the GS for a similar payment.
PS- I am not promoting Lexus just letting you know what is out there.I just sold my 2003 TLS and I am in the market right now for a new car.

mandeson

Bigaronson I was quoted $545/mo plus tax with $2800 down for a 3 year 12,000/mi year lease in Socal. The selling price I was quoted at was MSRP. It's a joke what these dealers are quoting. I'm hoping that in a couple months once the new model euphoria tones down the numbers will be better. By the way where were you quoted $36,400? That's 2k over invoice but still better than MSRP...

jennid

About 1 month ago I leased a 2006 TL with Nav. The contract is for 12,000 miles a year. The dealer has been calling, saying they made a mistake, the contract should have been for 10,000 miles a year. They are starting to get nasty - today they told me to either come in and sign another lease, or turn the car in. My deal was pretty good, but not great, $428 before tax, 36 months, $1200 down.

Help - what are my options?

kh08

hey, If your signed contract says 12k then I don't think there is a lot they can do about it. Their fault for that oversight.

jennid

Thanks kh08. The dealer claims Honda Motor Finance won't accept the lease, due to the error. They either want a new lease signed or their car back. I told them I'd give them the car back, and I haven't heard from them for 3 days. I am assuming they found a way to make everything right with honda motor finiance.

Crazy experience - they made the mistake and then were NASTY and RUDE. I said "aren't you going to apologize? and he said "nope" After being harassed and bullied for a few days I decided I would bring them back their stupid car. no problem.

Obviously they do not want the car back.....

krassanova

Once you agree to the terms of the contract and sign the paperwork, the deal is done. You probably saw some signs at the dealership that said: "no cooling off period," that goes for them as much as it goes for you. They had the same opportunity as you to review all of the specific terms of the contract. If you had made a bad deal with them and signed the contract, you would be bound by the terms of that deal...good luck getting a dealership changing the terms of a contract unfairly in their favor.

Score one for the consumer...keep driving your car, and enjoy your great deal!

kenbgriffey

Visited a dealer in NJ registering my car in NY and got this quote:

Term 36 months
Miles 15K/yr
Residual 52%
Money Factor .0029
Money out of pocket $1,513
Monthly payment $579

Any thoughts?

jivaro

That sounds a bit high to me. I was looking to lease a new Acura TL as well, but I thought the current deals being offered were too high. I browsed at other similar vehicles and just leased an Audi A4 2.0 Quattro instead....24 months, $2000 down, $447 a month which includes all New York taxes. The money numbers are:
Residual: 73%
MF: 0.00115.

The A4 is definitely a smaller vehicle, but has everything the TL has except for the Nav, but has AWD. The MSRP on the Audi was $37,100. Audi has special lease deals until December 4. I hope I like the Audi.....I pick it up on Wednesday. I really wanted the TL, but I did not think the additional cost on the lease was worth it. Perhaps when my 24 month lease on the Audi is up, Acura will have a redesigned TL for 2009 with AWD.

kenbgriffey

funny you mentioned the A4. I test drove it today and yes the lease deal now is unmatched. Seems like I may do the 24 month trial per your suggestion. What options other than navi did you get? bluetooth?

jivaro

As I mentioned in my first note, the A4 I ordered does NOT have the Nav....it was too expensive and as I read, it is not as good a system as the Acura one. Perhaps I might pick up a Garmin Nuvo or TomTom from Amazon and use it in both of my vehicles.

The A4 I pick up tomorrow has the Convenience Package, the Premium Package, Bluetooth, Sirius satellite radio and heated seats. If you are interested you can go to the Audi website and see what comes in those packages. I think I got a lot of car for the money and will be very content for the next 24 months.

wbenedict

Can you please clarify your upfront money down? Was the $2,000 truly capitalized cost reduction or did it include TTL and bank fee and security deposit? I am trying to identify what the total costs are to leave with the car - first mo pmt plus TTL plus cap cost reduction (i'm not a fan of doing this on leases), etc.

Thanks!

jivaro

The $2000. included all the fees, including $860 in taxes, and $155 in title, registration and documentation. Therefore, approximately, $1140 is the upfront cost that includes acquisition fee and first month payment.

CarMan@Edmunds

Hey franklyn. You should be able to get an idea of how much you will have to pay for a TL right now by visiting the following discussion: "Acura TL: Prices Paid & Buying Experience". If you are in an area that has a decent level of competition I suspect that you will be able to get a 2007 or a 2006 model TL for $500 to $1,000 over dealer invoice. Acura is not providing any cash incentives on the 2007 TL right now, but it does have $2,000 dealer cash on the 2006 model.

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CarMan@Edmunds

Hey John. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura TL with navigation with 15,000 miles per year are .00280 and 57%, respectively. Using these numbers, an MSRP of $36,795, and a selling price of $25,295 I estimate that this car's zero down, pre-tax monthly payment in November should be around $556.

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CarMan@Edmunds

Hi jivaro. For consumers who pay a security deposit at lease signing and qualify for Honda Finance's "Super Preferred" credit tier, this car's buy rate lease money factor for a 36 month lease is currently only .00280. Make sure that this money factor is used to calculate your car's monthly payment. The advantage of leasing a 2006 model over a 2007 model at this point is that Acura is providing $2,000 dealer cash on leftover '06 TLs to help dealers unload them. This cash will help you to negotiate a very low capitalized cost for your lease. I would be happy to give you my opinion on the specific deal that you mentioned if you let me know what its MSRP and selling price are.

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CarMan@Edmunds

Hi mandeson. You definitely should be able to negotiate a larger discount than this on an Acura TL, especially in a competitive marketplace like Southern California. I suggest that you shop around with a couple of other dealers.

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CarMan@Edmunds

Greetings kenbgriffey. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are. For now I can tell you that the money factor that you were quoted is right in line with Honda Finance's best current buy rate money factor for a lease of this car with a waived security deposit. This is a good sign because it means that the dealer that you are working with is not trying to mark your car's factor up to add additional hidden profit to your deal.

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CarMan@Edmunds

Hey kenbgriffey. I see that you and jivaro mentioned the 2007 Audi A4. Audi recently enhanced its lease program on this car. It has a very attractive promotion running on it through the end of the money. It is a much better deal than the Acura TL right now. If I was in the market for a sedan at this time I personally would seriously consider leasing an A4.

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jivaro

I picked up the Audi A4 on Wednesday. So far it has about 125 miles on it and is an extremely tight handling, fun driving vehicle. It even has AWD. I had been looking for the past 2 months to lease a premium sedan, and the current deal that Audi has cannot be touched.....so for the next 2 years I will be driving the A4. The only thing that the Audi does not have that I would have gotten in the Acura is the Nav system...otherwise it has everyting including satellite radio and blue tooth.