The quote is from Ed Napleton Acura in Elmhurst, IL. I also have a standing offer from McGrath Acura in Westmont to beat any deal I have. My contact there will provide his quote to me on Monday. I expect, based on past experience, that he will offer about $150 lower on the sale price and the same lease terms.
Welcome moose55. 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.
As far as this car's lease program goes, Honda Finance's current buy rate lease money factor for leases of the 2007 TL for up to 36 months is .00137 for consumers who quality for its "Super Preferred" credit tier and pay a security deposit at lease signing. This program is scheduled to run through February 5th. This car's residual values vary by trim level, term, and mileage allowance. The current residual value for a 36 month lease of a 2007 TL without navigation with 15,000 miles per year is 58%. The residual value for models that are equipped with navigation is 2% lower. This is a national lease program that does not vary by region.
Good luck in your negotiations and let me know if you have any other questions.
Here's the information that you're looking for, stumbler. This car's lease program varies depending by term and 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. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura TL with 15,000 miles per year are .00137 and 58%, respectively.
Ahhh, stumbler, my assumption was close. The only difference is the mileage allowance. Honda Finance's residual values for leases with only 12,000 miles per year are 2% higher than its 15,000 mile per year residuals.
Welcome acuralease. 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.
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.
Hi hydesmile. The two main numbers that one should focus on when negotiating a lease on a vehicle are its selling price and the money factor that is being used to calculate its monthly payment. These are the two main profit centers for dealers. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest possible selling price that you can on the car or truck that you want. Then have the dealer that you are working with calculate your vehicle's monthly payment using its buy rate lease money factor to calculate its monthly payment. It is important to make sure that the dealer uses your vehicle's buy rate because dealers often have the ability to mark vehicles' money factors up to add additional hidden back-end profit to deals. Honda Finance's current buy rate for a 36 month lease of a 2007 Acura TL is .00137 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
So negotiate an attractive price on this car, have the dealer use the aforementioned money factor to calculate its monthly payment, and you're in business.
I need some help on my next course of action.... I have received 2 identical lease quotes for a 2007 Acura TL w/navigation. The price is $525 per month, 36months/15k miles, $1,500 due at signing (includes all fees). This also includes trading my 04 Acura TL w/nav. whose lease is not up until October. I have not asked the dealer for the selling price, money factor, etc. I am not even sure how much negative equity is being trasferred from my trade. The deal seems good to me but I wanted to know what people think my next steps should be. FYI, I went to a 3rd dealer this weekend and wanted to discuss residual, money factor, etc and received a quote of $613 incluing my trade. They never gave me the information on the lease I requested and then the whole conversation turned ugly ending up with me leaving the dealership and the finance mgr yelling at me in a crowded showroom. Before I pull the triger, any advise?
Thank you very much to your reply. I email several dealers and it seems they did not provide me any quotes. I also happen to be very busy at work, so no time for me to answer their calls during business hours. I know the most important thing seems to be the car price, but I am more keen on doing a 24 months lease instead of 36. The deal I saw on the Acura website is 36, and I am not sure if it is possible for me to get 24 months w/o too much increase in monthly premium? Also, I heard it is better not to put too much money down, but the special for Acura's down payment seems pretty high. Is that also negotiable? Thanks again!
I have a lease quote for an TL with Navigation and IPOD link (however much that is). Includes Gap Insurance, Oil Changes, State Inspections. The cost of the car is $34,990. Based on the going lease rates and I was able to qualify for the preferred one. For a 36 mo lease, with an out the door cost of $5700 (includes, taxes, tags, processing fee, insurance, everything), my monthly rate would be $350. The downpayment could be lower but I wanted my monthly payments to be around that, so that is what it takes. What do you think- how does the cost of the car sound and the out the door costs. Its not bad. Considering I was looking into a 2007 Altima and the cost was $4700 down with everything included at the same monthly rate. Since the Acura is worth more, I thought the deal was fair, agree?
A couple of changes to my post above, the price came down. I was able to get the car at a selling price of $33,990 and a $1,000 less down. I pick up the car Thursday. I sat it last night and boy is it nice. I feel so spoiled! With $4700 down, includes alittle for cap cost to bring down monthly cost and to pay off tax, titles, acquisition fee and first payment, monthly rate is $349. Not bad considering I got $1,000 knocked off for the closing costs. I think this is a much better deal.
I think you can do better with your quote. I just settled on $33,990 plus ttl. I am in the DC area so not sure if area makes a difference in terms of pricing. Good Luck!
TL-S w/ HPT MSRP $38995 Selling Price: $35100 (approx $600 below invoice??) Plus Mandatory Bank Fee: $595= $35695 Payment including 8.25% CA Tax: $490.73 Drive off: 1st payment $490.73 PLUS DMV & $45 doc fee $353.27 = $844 Out of Pocket 36 months / 15K Deal included: wheel locks, body color mud flaps and 1st oil service at dealer. My Car is Nighthawk Black with the two tone Ebony / Silver Interior. I love it and have started to call it my "Batmobile" !!!
I got a similar lease in NJ. My car is nighthawk black with taupe interior.
36months/15k Selling Price : $35,500 Monthly : $491 Amount due at signing : $1250 (including all fees and first month) Got the free wheel locks too. I think its a fair deal and I love this car.
2007 Acura TL base, AT w/o Navi 36 month lease 10,000 miles per year $360 per month $3000 total OTD which includes Illinois sales tax of 7.75% on the full cap cost, title and registration, walnut shift knob, 1st 5000 scheduled service + 1st month lease payment.
Total monies paid over 3 years, including OTD and 36 monthly payments = $15,960.
Best offer on Long Island, 12k miles/yr, 36 months is $388, with bank fee, first payment, security deposit and taxes up front, no doc or any other fees except plates. Should I move on this offer? Thanks
Thanks for sharing. The quote I got was also from Island Acura at $400 with $2,406 due at inception. You are a better negotiator, how did you do it? Please advise
What is your opinion on this offer--I live in Boston?
$33,800 price (424 less than "invoice")
36 months/12K miles
.00137 money factor
$21,341 residual (I could not get them to move the residual down to 58% of the negotiated price and keep the same monthly lease payment (based on the assumption that I may want to buy it at the end of the lease)
1500 total upfront, including 595 acquisition, first month's payment, docs/title/plates 385.75, cap cost of $45.96.
I got the factory set special MF of .00137 and the residual for 15K miles was set by Honda at 57% (through 2/5/07). I had three dealers willing to do the deal (and a couple not believing that anybody would go this low on a Type-S) but ended up getting the car at Sierra Acura in Alhambra as it was closest to my home and they threw in the free oil service. It was a very pleasant and relatively quick transaction and I was treated very professionally by the internet/fleet manager. I think $490 per month including CA tax is a great deal for a car of this caliber. The BMW 335i that I wanted (and liked more) was almost $200 more per month and I could not justify that right now as I'm trying to save for a house. I liked the Acura styling better than the new Infiniti but the Infiniti was better off the line because of the RWD. Otherwise, I thought the Acura was smoother and plenty powerful and looked better inside and out. Good luck!
Greetings greenacura. You already have a very good idea of what your next steps should be. You need to find out what the MSRPs, selling prices, and money factors of these deals are. The selling price will show you how much of a discount you are being given and the money factor will help you to make sure that the dealers you are working with are not trying to make any hidden back-end profit on your deal.
You're welcome, hydesmile. You can lease this car for 24 months and still take advantage of the special lease money factor that is available on it, however a 24 month lease is going to have a higher monthly payment than a 36 month lease. This is usually the case because a 2 year lease has 12 fewer monthly payments to spread out your vehicle's large initial depreciation hit out over than a 3 year lease does.
You are absolutely correct, it is not a good idea to make a large down payment when leasing. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. Manufacturers just use them in their advertisements to make vehicles' monthly payments look more attractive.
Hi jenp123. You really should not make such a large down payment on your lease. Consumers who make large down payments risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
What is this car's MSRP? If you let me know I can give you my opinion on the discount that you are getting and use Acura's actual lease program to estimate what your monthly payment should be.
Hey jenp123. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura TL without navigation with 10,000 miles per year are .00137 and 61%, respectively.
Hi bostonfred. any selling price at or below dealer invoice on a 2007 Acura TL is a very good deal. Furthermore, the money factor that you were quoted is in line with Honda Finance's current buy rate for this car. The two main profit centers for dealers on leases look good to me. If you like the car, I personally don't see any reason not to pull the trigger on this deal.
Hi CARMAN, the car's msrp is $36, 795. I got it below invoice at $33,990. My cap. cost was about 2k out of the $4700. Acura includes GAP INSURANCE which minimizes the risk of monetary lost due to an accident or stolen vehicle. This is a for a 36 mo x 10k miles with monthly payment at $350.
Just wanted to reitterate that the total down for everything out the door was $4700, not the original $5700 that I had mentioned previously. I was able to get the dealer to come down a $1,000. The $4,700 up front cost covers TTL, 1st monthly payment, acquisition cost $595 and roughly $2k was cap. cost to bring my monthly payment down. Thanks for your help!
Thanks for the input--I think I will pull that trigger. The only thing that surprised me a bit was that the money factor they quote is applied to the negotiated price (33,800), not the actual lease cost (i.e., the difference between the negotiated price and the residual which is about 12,700). Obviously, that creates a significantly higher "interest" cost. Is that the way all leases work?
Here is the info: MSRP: 37,124 per sales manager(36,795 per sales lady) not sure why they gave me two different numbers Selling price is: 34,300 MF is : .00137 59% residual. this is a 2007 Acura 2007. payments 489 10k mile per year/ 36months forgot to mention absolute 0 down. not one penny.
Hi, I don't have much experience negotiating a car deal so would love some help. I am looking to lease a base TL in Southern California for 36 months with 12,000 miles. If I know what my target monthly payment is, should I focus on reducing that when negotiating or should I be more concerned with the selling price of the vehicle?
When I test-drove the car I was offered $369 month (before taxes) for 12K miles, with $2169 ($1205 down, $595 acquisition fee & 1st month) due at signing. Selling price is $33,625.
I would like to negotiate a better deal and would love some feedback.
I'm considering leasing for the first time, due largely to the current Acura lease incentives. I've been offered a 12,000 mile per year lease on a Type S for $530 per month. First payment at signing is $667 (nothing else due), followed by 35 monthly payments at $530. Tax is 6.25%, and I've been told the sale price is $35,800, residual is 59%, and MF is 0.00137. From initially negotiating a purchase, I know the dealer is including $600 in additional fees, including a ridiculous $300 "security" fee for VIN etching and wheel locks that I'll insist they eliminate if that's rolled into the lease as well.
Shouldn't the payments be lower than $530 with these figures? The Edmunds calculator says payments should be about $30 less, and that's including the $600 in additional fees rolled into the lease finance amount. I think this is very close to being a good deal, but I don't understand how the dealer is arriving at the payment amount. Thanks in advance for any advice.
Try the lease calculator at Leaseguide.com I used that to calculate you a monthly lease payment of 466.48 tax included. Based on a MSRP of 38,795, purchase price of 35,800.00 no money down(except first month payment) 59% residual and.00137 money factor. check it out
Question about your 07 Type S Can you tell me at what dealer did you get this lease price? I am in NYC and this sounds like a solid price. does the $491 include taxes? and what fees does 1250 include?
When you said your monthly fee is before taxes, would that roll that in to the monthly cost, not at the upfront cost. I paid mine upfront. Can anyone tell me if that is standard or not? The purchase price of my car with Navigation was 33,995 so I think you could do better on your price considering for $300 more I got Nav. You should be able to get yours down another grand or two. Good Luck!
I am looking to lease a TL-S AT sometime in the next week or so. I have two questions. First, when will the money factors applicable to leases after 2/5 beavailable. Morning of 2/6?
Second, is there any way I can track sales figures for the TL-S in my region? I am wondering, because my dealer has about 55 TLs in its inventory, and 25 of them are the TL-S.
Hey, I am looking to lease a TL-S and woundering if anyone got a deal in NY/NJ area, for 2 or 3 years w/12k per. for $450-500 including taxes and 0 down. Please let me know, and what dealer.
Thanks. That is what I was hoping. I ran the numbers for a Type-S, sales price 37,596, 36 mos., 12K miles per year, tax, title & tags down & came-up with a monthly of $476.99. Does that seem right? Thanks.
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Car_man
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As far as this car's lease program goes, Honda Finance's current buy rate lease money factor for leases of the 2007 TL for up to 36 months is .00137 for consumers who quality for its "Super Preferred" credit tier and pay a security deposit at lease signing. This program is scheduled to run through February 5th. This car's residual values vary by trim level, term, and mileage allowance. The current residual value for a 36 month lease of a 2007 TL without navigation with 15,000 miles per year is 58%. The residual value for models that are equipped with navigation is 2% lower. This is a national lease program that does not vary by region.
Good luck in your negotiations and let me know if you have any other questions.
Car_man
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Car_man
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Car_man
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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.
Car_man
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So negotiate an attractive price on this car, have the dealer use the aforementioned money factor to calculate its monthly payment, and you're in business.
Car_man
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Thank you very much to your reply. I email several dealers and it seems they did not provide me any quotes. I also happen to be very busy at work, so no time for me to answer their calls during business hours. I know the most important thing seems to be the car price, but I am more keen on doing a 24 months lease instead of 36. The deal I saw on the Acura website is 36, and I am not sure if it is possible for me to get 24 months w/o too much increase in monthly premium? Also, I heard it is better not to put too much money down, but the special for Acura's down payment seems pretty high. Is that also negotiable? Thanks again!
I have a lease quote for an TL with Navigation and IPOD link (however much that is). Includes Gap Insurance, Oil Changes, State Inspections. The cost of the car is $34,990. Based on the going lease rates and I was able to qualify for the preferred one. For a 36 mo lease, with an out the door cost of $5700 (includes, taxes, tags, processing fee, insurance, everything), my monthly rate would be $350. The downpayment could be lower but I wanted my monthly payments to be around that, so that is what it takes. What do you think- how does the cost of the car sound and the out the door costs. Its not bad. Considering I was looking into a 2007 Altima and the cost was $4700 down with everything included at the same monthly rate. Since the Acura is worth more, I thought the deal was fair, agree?
I think you can do better with your quote. I just settled on $33,990 plus ttl. I am in the DC area so not sure if area makes a difference in terms of pricing. Good Luck!
Selling Price: $35100 (approx $600 below invoice??)
Plus Mandatory Bank Fee: $595= $35695
Payment including 8.25% CA Tax: $490.73
Drive off: 1st payment $490.73 PLUS DMV & $45 doc fee $353.27 = $844 Out of Pocket
36 months / 15K
Deal included: wheel locks, body color mud flaps and 1st oil service at dealer.
My Car is Nighthawk Black with the two tone Ebony / Silver Interior.
I love it and have started to call it my "Batmobile" !!!
I got a similar lease in NJ. My car is nighthawk black with taupe interior.
36months/15k
Selling Price : $35,500
Monthly : $491
Amount due at signing : $1250 (including all fees and first month)
Got the free wheel locks too.
I think its a fair deal and I love this car.
2007 Acura TL base, AT w/o Navi
36 month lease
10,000 miles per year
$360 per month
$3000 total OTD which includes Illinois sales tax of 7.75% on the full cap cost, title and registration, walnut shift knob, 1st 5000 scheduled service + 1st month lease payment.
Total monies paid over 3 years, including OTD and 36 monthly payments = $15,960.
Good deal???
Thanks
I also looking for 30 months 12k miles lease, but the best i got so far is 400 per month
I love the Type S and will be purchasing one shortly, I can't wait!!
$33,800 price (424 less than "invoice")
36 months/12K miles
.00137 money factor
$21,341 residual (I could not get them to move the residual down to 58% of the negotiated price and keep the same monthly lease payment (based on the assumption that I may want to buy it at the end of the lease)
1500 total upfront, including 595 acquisition, first month's payment, docs/title/plates 385.75, cap cost of $45.96.
Monthly payment is $420 (441 with MA state tax)?
Car_man
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You are absolutely correct, it is not a good idea to make a large down payment when leasing. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. Manufacturers just use them in their advertisements to make vehicles' monthly payments look more attractive.
Car_man
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What is this car's MSRP? If you let me know I can give you my opinion on the discount that you are getting and use Acura's actual lease program to estimate what your monthly payment should be.
Car_man
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Car_man
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Car_man
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Just wanted to reitterate that the total down for everything out the door was $4700, not the original $5700 that I had mentioned previously. I was able to get the dealer to come down a $1,000. The $4,700 up front cost covers TTL, 1st monthly payment, acquisition cost $595 and roughly $2k was cap. cost to bring my monthly payment down. Thanks for your help!
Thanks for the input--I think I will pull that trigger. The only thing that surprised me a bit was that the money factor they quote is applied to the negotiated price (33,800), not the actual lease cost (i.e., the difference between the negotiated price and the residual which is about 12,700). Obviously, that creates a significantly higher "interest" cost. Is that the way all leases work?
Bostonfred
MSRP: 37,124 per sales manager(36,795 per sales lady) not sure why they gave me two different numbers
Selling price is: 34,300
MF is : .00137
59% residual.
this is a 2007 Acura 2007.
payments 489
10k mile per year/ 36months
forgot to mention absolute 0 down. not one penny.
I don't have much experience negotiating a car deal so would love some help. I am looking to lease a base TL in Southern California for 36 months with 12,000 miles. If I know what my target monthly payment is, should I focus on reducing that when negotiating or should I be more concerned with the selling price of the vehicle?
When I test-drove the car I was offered $369 month (before taxes) for 12K miles, with $2169 ($1205 down, $595 acquisition fee & 1st month) due at signing. Selling price is $33,625.
I would like to negotiate a better deal and would love some feedback.
Thanks!
Shouldn't the payments be lower than $530 with these figures? The Edmunds calculator says payments should be about $30 less, and that's including the $600 in additional fees rolled into the lease finance amount. I think this is very close to being a good deal, but I don't understand how the dealer is arriving at the payment amount. Thanks in advance for any advice.
Try the lease calculator at Leaseguide.com I used that to calculate you a monthly lease payment of 466.48 tax included. Based on a
MSRP of 38,795, purchase price of 35,800.00 no money down(except first month payment) 59% residual and.00137 money factor. check it out
Question about your 07 Type S
Can you tell me at what dealer did you get this lease price?
I am in NYC and this sounds like a solid price.
does the $491 include taxes? and what fees does 1250 include?
thanks
B
When you said your monthly fee is before taxes, would that roll that in to the monthly cost, not at the upfront cost. I paid mine upfront. Can anyone tell me if that is standard or not? The purchase price of my car with Navigation was 33,995 so I think you could do better on your price considering for $300 more I got Nav. You should be able to get yours down another grand or two. Good Luck!
Second, is there any way I can track sales figures for the TL-S in my region? I am wondering, because my dealer has about 55 TLs in its inventory, and 25 of them are the TL-S.
Thanks.
I am looking to lease a TL-S and woundering if anyone got a deal in NY/NJ area, for 2 or 3 years w/12k per. for $450-500 including taxes and 0 down. Please let me know, and what dealer.
thanks to all
Thanks. Kevin
07 Acura TL Type S
36 month Lease
16.5k a year
0 down- Only first months payment
$35,700 Selling price
5% sales tax $1789
MF .00137
Residual $21663
Monthly Payment 547