2013 and earlier-Acura TL Lease Questions

pashanyc

Hi,
I'm returning my car next month and today I had the inspection guy come in and look it over. On the paper that he left it says total work $180, as I understand it's before the $1500 that Acura gives you for damages. The problem is that I have a huge cigarette burn on my back seat and he didn't write anything about that. Can the dealership charge me for it after I return the car? If so can it be disputed? :confuse:
Thank you.

zezak

Hey guys
I have a problem and I dont know what to do about it. I currently own a 2001Chevrolet Tracker LT which i wanna trade in. The Acura dealership priced it out for $4000 so I was gonna use that as a trade in for a 2007 Acura Tl-S. Now I been hearing alot about how you dont have to put no money down on a lease car... and when the Acura salesman approched me he just made me laugh and i got up and left. Here is what he offered me,

Take the Tracker as a trade in and then my monthly payments would be $499/ month

Trade In + $1000 - $468/a month
Trade In + $2000 - $444/a month

I know these numbers are way to high!! I mean with a $4000 trade in ? Talk to me guys tell me what you think ? WHat should I do ??

stlacura

Deal for the Car first. Get the salesprice down to lowest possible price. I'm not sure of your area, but if you have good competition you should be able to get a TL-S pretty close to invoice. I live in STL and got mine for $500 over invoice (there are only 2 Acura dealers here). Then use their buy rate money factor (not exactly sure what it is this month...maybe .00100?) Factor that in with the residual value for your term (months, 36? and miles, 15k?). Use a lease calculator (I can send you one if you give me your e-mail) to find out exactly what you should be paying without putting ANY (zero!) money down. I'm paying about $510 a month for my TL-S for 36 monthes, 15k miles, $0 down (just first months payment with tag and title fee...and it includes tax as well. I think my base payment without tax was around $480. After you settle that....then see if they can cut you a check for your trade in....if not, sell it outright or sell it to Carmax(they give good trade in money). Hope this helps...

CSF

The lease on my Honda Accord EX with Navi expires in December. According to the TMV quote I just did, my payoff today is less than the "Trade In Value" and a $1500 hundred less than the Private Party Value and $2500 less than the Dealer Retail Value.

Since Acura is offering good lease incentives now on the TL, would now be a good time to get rid of the Accord and get a TL with Navi? Or, will the deals on leases steadily get better as the '07's are replaced with '08's (and if they do, will the depreciation on my Accord accelerate to the point where they'd cancel each other out??!)

I'm ready to get rid of the Accord and I'm pushing the limit on my miles already - have 44,100 and lease limit is 45,000 (47,500 with the class action benefit).

Any advice as to whether or not to try to deal now or wait til Nov/Dec?

Thanks

zezak

OK thanx alot!!! I got my 2007 TL Type S in blue yesterday. I paid $2700 down (includes taxes registration fees) and now my monthly payments are $460, the car is sick!!!!!

basahe1

I spoke with two dealerships this weekend for a TL w Nav, 12k miles/year. Here's what I've been offered: $399/mo with the $1035 down. Costs are as follows: $595 bank acquisition fee, license and registration fees $132.05, $469.07 (Acura is giving a tax credit on the TL right now; they pass it along by charging the consumer 1.2% of selling price which is a tremendous savings in my state). With the costs, first month, and cap cost reduction, total out the door is $2609. Any thoughts on whether this is a good deal?

CarMan@Edmunds

Hi mikeyj1. I can give you an idea of what this car will cost to lease right now. Its monthly payment will vary depending upon what sort of selling price you are able to negotiate. For now I will assume that you are able to negotiate a price of $500 over invoice. According to my calculations, if you were to lease a 2007 Acura TL with navigation that has an MSRP of $36,795 and a selling price of $34,307 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $452 if you qualify for its top credit tier and pay a security deposit at signing. The $540 per month that you were quoted definitely looks high to me.

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CarMan@Edmunds

Welcome back eitan56. Unfortunately, Acura is not running any early lease termination program that I am aware of right now. As a result, it will not just waive your final two payments on your current lease. You would be much better off just waiting a month or two to get a new vehicle than wasting your last two payments.

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CarMan@Edmunds

Hi pashanyc. While I don't know exactly how much the cigarette burn that you mentioned would cost to repair, I suspect that it is less than the remaining $1,300 of the damage allowance that you have on your vehicle. So even if Honda Finance does eventually notice the burn, chances are that you will not have to pay to have it fixed.

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CarMan@Edmunds

Hi zezak. There's nothing wrong with trading in your Tracker when you lease a new Acura. Just make sure to have the dealer that you are working with cut you a check for any equity that you have in it rather than using the proceeds from it as a down payment for your lease.

You're right, the lease payments that you were quoted do look a little high. It is difficult for me to give you my opinion of this deal without knowing what this car's selling price is as well as how long a lease you want and what mileage allowance you need. Let's work up a sample lease payment to give you an idea of how much this car should cost to lease right now. If you were to lease a 2007 Acura TL-S with an automatic transmission that has an MSRP of $38,795 and a selling price of $36,138 ($500 over invoice) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $455. That's the payment that you should shoot for.

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CarMan@Edmunds

Hi CSF. While it is difficult to predict what automakers will do with their future incentives, I personally doubt that there will be much of a difference between the lease program for the Acura TL now and in December. Acura has been advertising the same $369 monthly payment on the '07 TL since December of '06. There's nothing wrong with getting out of your Accord lease early if you are actually able to do so without having to pay a penalty, but there's not advantage deal-wise to doing so.

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CarMan@Edmunds

Congratulations on getting your new car, basahe1. Your monthly payment initially looks pretty good to me. I would be happy to give you a detailed opinion of this deal if you provide me with your car's selling price.

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wbrook

>(Acura is giving a tax credit on the TL right now; they pass it along by charging the consumer 1.2% of selling price which is a tremendous savings in my state)

Sorry, what does this mean? What state are you in?

*

dbourhill

Here is the offer.

36 months
12k per year
$430 per month including taxes
$2430 out of pocket.

Please let me know asap, i am suppose to sign for the car tomorrow.

CarMan@Edmunds

Hi dbourhill. You never mentioned the selling price or MSRP of the TL 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.

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dbourhill

The selling price was $34,755

We got them down to $2000 total out of pocket and $430 per month

fretus30

Shop around ~ week ago. Walk in to dealer May 30(almost end of the month!!!)
first offer : 07 TL $2000/36/12k/$380 month
and with Navi $430 month

dbourhill

That's what they gave me last night $430 inc taxes, with 2k total out of pocket for 36/12.

Sad thing is right after I signed another dealer called and left me a message saying they would drop car by $300...so that would have saved me abotu $10 more per month. But oh well $430 doesn't seem bad

fretus30

Ok
Currently i'm driving 04 tl with navi lease 42month, $3K dn-pmt, $420/mn. It was really bad deal (thru DCH Montclair) at that time ... but now ... $2000/430 think is good deal...

BTW have anyone realize that overmilege right now 20cent/mile? :mad: was 15c at 2004

dbourhill

What was your opinion of DCH Montclair b/c thats where I got mine? I also leased my MDX last year through them.

.20 extra mile, nice way to stick it to us!!!

fretus30

last week i stoped by while shoping around.
Had very unpleasent experience with sales dpt...

henryt34

Hey Car_man,

I'm interested in an 07 TL w/ Nav. but can wait till the 08's roll out.
Generally speaking, would it be better to act on the 07 now with its current program or wait for the 08?
How does the lease program on the TL usually look in Aug/Sept for the new model yr rolling out?

jgreenberg

Car_Man,

What is the current lease money factor (buy rate) for the 07 TL w/NAVI for 36 month and 12K. Also would like to know the residual. At a selling price of 500 over invoice ($34,307) what is your calculation for the payment excluding TTL and any other dealer fees. Is the ACURA advetised offer of $369 per (I assume excludes TTL) a good deal?

cpa3

CARMAN,

I also would like to know current lease rates, residuals. I think I had read on this board the current lease rates expire on July 1st. Do you believe they will continue to offer these lease rates through the end of summer? What does Honda typically do this time of year.
Thanks

ryanscott

What should I expect to pay on a lease for the base TL 36 month /12,000 miles per month.

I see the adds for $1999 down and $369 per month plus TTL. What is the price I should be shooting for on this car since that advertised lease is based on MSRP.
Thanks

b5150

Car Man and all posters - Thank you for your posts, which helped me signficantly during negotiations yesterday on my new TL lease. For those interested, here are the numbers I was able to get at a dealership in Northern NJ.

Base TL (no Navi)

MSRP: $34,295
Residual: 58%, Money Factor .00093

I put NO money down except first monthly payment. I included all fees in to cap cost since the interest is so low. Fees included were (ACQ fee $595, registration $298 for dealer administration, $311 to state of NJ, $15 for some other fee) .

I know the dealer administrative fee was high, but the official selling price of the vehicle was only $200 over invoice, so i guess that with the $298 above is about right.

Final Cost was:
$440 per month (includes 7% new jersey tax)

12k miles / 36 months / $.20 per mile over through Honda Finance.

With NAVI, I was quoted a price of $490 a month with no money down other than first monthly payment. NAVI is nice, but tough to justify $50 per month extra. Residual for NAVI was 56% with same money factor and dealer profit over invoice/fees, etc.

Good Luck to all. The car is amazing.

cpa3

Are you sure the residual was 2% less with Navi...I wonder if the residual on the S is also 2% less...56% rather than 58%..Looks like they dont think the Navi retains its value like the rest of the car...

deschlayer

is this a good deal?

2007 acura tl with nav 15,000 miles a year 36 months
- mspr $36,795
- haggled price $34,000
- Residual 54%
- money factor 0.00093
- out of poket $3,000

other options, trunk mat, pin stripe

payment would be around $390 before tax
but there is $1250 in the lease that is unacconted for, is this a normal amount for dealer fees and stuff?

ausdtech

Those figures look about right.

Additional fees would be the $595 acquisition fee (not negotiable), registration and title.

Of the $3000 you would put down at signing, about 2300 of that would go to cap cost reduction and ~$700 to 1st payment and registration/title.

On that note, I'll parrot what the mods of this board state frequently, its a bad idea to put money into cap cost reduction on a lease, in the event of an accident the insurance co. may well just pay off the balance due on the lease, leaving you out your down payment.

henryt34

So, of that $3000 out-of-pocket they want due @ signing, how much can you really negotiate to put down? If the cap cost red. is negotiable, where do those figures go? Do they get rolled into your monthly payment?

ausdtech

Yes, if you put $2300 less down at signing, that would get rolled into your monthly payment. Then you would be just paying the 1st month's payment and Title/reg/misc fees at signing. I don't have time at the moment to plug those changed numbers into the lease calc but I'll do it later today and post the resulting change in monthly payment.

The dealership would like to get as much of your money up front as possible so they are often going to quote numbers which reflect a significant down payment.

cpa3

Another thing to keep in mind is that the current lease rate equates to an effective rate of 2.232%...thats a tough rate to beat....another reason why you should put as little down as possible...

ausdtech

With nothing but 1st payment and title/reg down (approx $700) your pre-tax monthly payment would be $460 assuming all other factors remain the same.

ryanscott

I am in the market for a base TL with an MSRP of $34,200. I received the following quote for a 36 mo/12k/yr lease.

Sale price $31,700
$2500 down total
$396/mo

Is this reasonable? Can I do better and if so what should I expect.

ausdtech

That's a really bad deal. From the looks of the figures you provided, you're putting down $2500 and only coming up with a cap cost of $31,700: they're pricing the car at full msrp.

You should be able to get right around $400/month (pre-tax) with nothing down but 1st month, document, title and license (usually a total of around $700)

rcaldrn

Hi all, just want to share this with everyone following the current theme. If the spirit of the forum is a happy new car owner then mission accomplished. This thread helped me in purchasing the following.

Closed the deal last night negotiated to 34k-TL Navigation-Trunk Liner/Tinted Windows.

$3000 down total
$392/mo

-R

ramstein317

Hello All:
I needed to know some info, on leasing the new 07 Acura TL (BASE). I want/plan to lease a TL for like 3 years or so, and would want atleast 20,000 miles for each year. One of the dealers in NJ, have responded to me as this via e-mail:
The TL is $415 plus tax with $1000 down plus inception fees. Offer is good until the end of June.
I also have a 05 Camry LE V6(will trade) which I am financing through Toyota, since 2005. What do you guys think?
Thanks...

cpa3

I assume its also w/o Nav. Did the dealer know you want 20K miles a year. I dont think you can get that kind of rate with 20K miles a year. ..I thought the most you could buy was 15K and pay $.20 a mile thereafter....

ausdtech

You can buy additional miles at the time you set up the lease at a reduced rate from the 0.20/mile end of lease charge.

ramstein317

Yes, the dealer knows that the TL I want to lease will be for 20,000 miles per year, and for 3 years. This is just the base model, not a Navigation model. I am planning to go to this dealer tomorrow evening, "NJ". I live in NJ. I also have a financed car which I am planning to TRADE for this TL. Do you guys recomment financing or should I just go for the LEASE? This is my FIRST lease, any other Info should I know before LEASING? How are the ACURA'S services? Are they very expensive to maintain?? My other question is that, on the TECH SPECS for the TL-it states that the gas has to be 91 octane=PREMIUM. Will the TL run at a PLUS GAS? 89 Octane? Any other main things should I know about leasing the TL? Thank you all..

cpa3

Before leasing you should know:
Capitalized cost (the amt the dealer is selling the car to you) for
Residual rate
Lease Factor (interest rate)
Lease fee $595
How to calculate your lease payment. Any other fees is profit to the dealer.
Leasing can be a good way to go as long as you want to get rid of a car every 3/4 years. IF you do this right it should make no difference in costs to you if you buy or lease and then sell (or turn in) at end of lease.
Dont lease a car just because you like the payment amount. Know how to calculate the payment so you can see whats going on. A lot of people on these leasing boards I would guess dont have a clue as to how to calculate the payment. They are just going by what the other guy got. I guess thats better than nothing. Good Luck

ramstein317

Thanks for all that important info.
You stated the capitalized cost: Is that something as the Invoice Price?? Or the MSRP price? I belive in the Invoice price.
Next: Residual rate: What is that??? I never heard of that.
My credit is excellent, so I should be getting an excellen Interest Rate.
I plan to go there today, and see what happens.
Thanks!!

ausdtech

It seems like you are new to leasing and not very familiar with the Acura Tl. You should probably check out http://www.leaseguide.com/lease07.htm
for some basic info on how a lease works as well as
http://www.edmunds.com/new/2007/acura/tl/100810913/researchlanding.html
for info on the TL and its cost to own etc.

ref965

The Accord is leased through Honda Finance

ausdtech

Just finalized and took drove off with this last night st Hopkins Acura in N.Cal

2007 TL with nav Desert mist metallic

$36,795 = MSRP (before options)

$33,100.00 = Vehicle Sale Price
+ $245 Protection pack (color-matched splash guards, wheel locks, trunk tray)

Cap cost $34,020 (including $595 acquisition + 45 doc fee)

36-Months
12,000 Miles/Year (36,000 Total)
.00093 Money Factor
$20,605.20 Residual (56%)

$421.14/Month + tax
$457.99/Month Including Tax (8.75% in my county, ugh)

Due at signing:
$457.99 = 1st month payment
$280.00 = Reg fees
$62 = cap cost reduction, tire fee, tax on cap cost reduction

Total Drive off: $799.99

philn1

Hello everyone,

I am a new member and I am really impressed with all the great information that you all share with each other! :-)

I am in the market for a new TL w/Nav and I picked one out at the dealer on Saturday and here is the deal....

3yr/36k lease
Cap Cost $34,950
Total due at signing $700
Payment $534 w/7%tax

A word about my credit....i have a score between 650 and 670 because of one missed mortgage payment. Everything else on my credit is perfect, never missing any payments. They told me that I should be able to get the super preferred lease tier even though the beacon score isn't the 710 needed. So does anyone now what the money factors are for the different credit tires?? Also what do you all think about the deal??

Thank you in advance for you help.
Phil

bd307

Over the weekend, few dealers offered me some lease plans for the TL-S. I am located in So Cal, and I think it may make a different.

Lease terms: 36 months
Drive off: $1,000
Selling price: Average around $34,850 + tax & fees
Miles: 15K miles/year
AT Pearl White

Here are the deals:

1. $479+tax/month
2. $499+tax/month
3. $460 with tax/month (have not confirmed the deal)

Obviously, the third dealer offered us the best price given the conditions above. However, I've seen some people leasing their TL-S for $420-430/month with tax.

How did other people do it and where did they get their deals from? Or is it even possible to get the price this low? Am I getting a fair deal from these dealers?

I don't mind going other areas to get the car as long as I am getting great deal.

Another question I have is that should I wait until 4th of July or pretty much it does not matter as long as the deal is going into my way?

Please advise

gf2020

Does anyone know the residuals and money factors for a 24 and/or 36 month lease for a TL Type S in MA/NH?

Thanks!

cgib2000

I'm new to this forum and wanted to know if you guys thought this was a good deal. Here's the numbers

2007 TL W/out Nav
MSRP $34295
Selling $31051.71
Total Drive Off: $1300 (Zero down, $595 acq. fee, $275 DMV fee, $375 1st mo., $45 Doc fee)
Residual: 59%
MF: .00093
10k year 36 month lease
$348 + $26 tax = $375 month payment

I'm in So. Cal and thought this offer was pretty good. Any advice would be greatly appreciated. Thanks.

ausdtech

Those numbers are pretty good, selling price is about $500 back of invoice. You might want to roll the acquisition fee into the cap cost to minimize your up-front liability would be the only thing I would suggest. Otherwise the rest of it seems to be right on the money.