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Car_man
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Thanks
Speaking of the 2007 Acura TL -
• For years, Mercedes has moved engines in higher-priced models down to models further down the model line.
• Given that there were very few changes to the Acura TL for 2006, what do you think the chances are that Honda will imitate Mercedes by moving the engine of the Acura RL down to the Acura TL, and increasing horsepower or re-designing the Acura RL? Naturally, it is far too soon to expect any announcement from Honda on this.
Philo82
I am considering the following options:
1. Buy the car now.
2. Trade as I near the end of the lease.
Here are my questions:
1. Will it save me money to buy the car now or at the end of the lease?
2. If I trade near the end of my lease, will they "forgive" the extra mileage (est.9,000)
3. There is a small amount of damage to the right front quarter panel (collided with my bike in the garage). If I trade before end of lease, will this damage be forgiven?
4. If my lease is with American Honda Fin. Corp...is it more advantageous to trade for a Honda or an Acura? Thinking about Lexus or even the Toyota Camry XLE looks pretty good.
Thanks...
48 mos, 3k down, $499/mo, 12k mi, 680 fico
After reading through some of these posts, I feel like I should have negotiated a little more but this was the first time in about 10 yrs that I have purchased a car so I guess I wasnt thinking so clearly.
Any opinions are appreciated!!
Remember, when you lease the car this is what you need to know: 1. the money factor (bank's interest rate), 2. the selling price, 3. the residual value. Then calculating the payment is very easy.
But don't worry and enjoy the car!!!
Car_man
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Car_man
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Banks cannot charge excess mileage penalties on vehicles that consumers purchase. So buy purchasing your leased Acura at the end of its term you will get out of having to pay this charge. the same thing goes for any excess wear and tear charges. The question is whether your car will have a low enough purchase option price to justify purchasing it. There is a chance that your car's purchase price will be so high that you would actually be better off just paying the mileage penalty rather than buying it and trading it in for a loss. You do not necessarily have to trade your car in to a Honda or Acura dealer if you choose to do so.
Car_man
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Car_man
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Car_man
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I did some quick math and assuming I put the deposit and all fees down, I come up with a monthly payment of $380 (incl 6.75% sales tax). The dealer says it'll be $483 PLUS tax. Can anyone tell me what I'm doing wrong here? Any comments are appreciated.
$32,500 Selling price minus $19,686 residual = $12,814 depreciation..
$12,814 divided by 36 months = $356/mo... and this is only the depreciation portion of the monthly payment...
The finance charge portion is (residual + cap cost) X money factor
(32500 + 19686) X .00192 = approx. $100/mo..
Total $456/mo.+ tax (more or less)..
I think you left out the finance charge portion of the payment..
regards,
kyfdx
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Does anyone know the MONEY FACTOR and RESIDUAL VALUE currently available through Honda Financial for a 2006 Acura TL for 36 months/15k per year?
Mike
Car_man
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Car_man
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I should have been more specific. Would the rates be any different for the TL with Navi? Does a very good credit rating improve the rates?
Mike
Good luck.
Ozz
And, the option most likely to affect the residual percentage is.. Navigation..
Car_man will likely have specifics, regarding this model..
regards,
kyfdx
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I recently went to look for a new TL. I was quoted a price of $439 (including tax) a month with 1st months payment and bank fees down (around 1000) W/o Navigation.
Good deal?
Thanks
36 Months Term
12,000 Annual Mileage
Required Refundable Security Deposit $625.00, 1st Monthly Payment $617.84, Capitalized Cost Reduction $0.00 to equal an estimate total of $1,242.84 due at lease signing
Estimated Amount Financed $35,940.00
for $617.84 per month
When I do the math with the residual at 60%, money factor at .0025, and the selling price of $35,940.00 I get a monthly payment of $541 (399+142)
What am I doing wrong?
Is there a better way to lease this car?
http://www.carbuyingtips.com/regm.xls
If they had an advertised lease on the website, then it would have all of the disclaimers and most of the information that you need.. But, if you just "build your own" and then use their calculator, the number you get is basically fiction..
Hey.. that's why we are here!! To give you the correct numbers..!!
By the way, your calculations are right on the money..
regards,
kyfdx
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I have a trade-in that is worth ~$6,000. Does it pay to put all of the trade-in value towards the Cap Cost reduction? I've read where paying down a lease is dangerous in case the car is stolen or totaled. Then your money is essentially gone.
Thoughts, advice?
Thank you
Mike
that 60 percent for TL w/o navi for 15k seems high
is honda running some lease specials on the 06 TL now?
I would really appreciate your help in helping me to decide whether to buy or lease 2006 Acura Tl with Nav. I was able to get a great selling price: $33,400 (yeah, I know, it's just about $600 above invoice and delivery) and a good money factor: 0.0025. The problem is I live in IL which has this silly law requiring taxes to be collected off the whole price of the vehicle, as opposed to the lease cost. Therefore, after taxes, fees, security dep., etc my payment is either: a) $3,456 upfront and $475 a month or b) $1,240 upfront and $545 a month. (36 month lease, 12K miles a year).
Alternatively, I can buy this car: 60 month loan, 5.8% interest; $646 a month plus tax.
Any advice would be very appreciated. Thanks a lot!
The savings on a 05 vs. 06 are probably pretty considerable considering that most dealers are not offering great deals on the 06 as they are on the 05's. However, I do think you should make an educated decision between the two. The dealer telling you that there is almost zero difference between the two might be a little off from the mark. Consider the following changes for 06:
New Blue (Royal) color replacing Abyss Blue
Green color discontinued for 06
New Tire Pressure Monitoring System
New Torque Steer control mechanism (remember the TL is still a FWD sports sedan)
Updated interior/exterior color combinations
Some colors changing slightly: silver e.g. changed to a different shade of silver
Extended Standard Warranty
I believe these are most of the changes. Forgive me if I missed one or two... I am sure someone else can advise if I missed anything but if some or all of these things matter to you, it might justify paying the extra $$ for the 06.
Personally, these things did not matter to me,so I bought an 05, but the dealer telling you that there is almost zero difference would be incorrect. Maybe they said that to move their old inventory :confuse:
Just my .02, hope this helps.
I've been following this thread for a few days, but I don't see much mention of navi leases. I'm looking at an 06 auto with navi in the DC area, and I was quoted a selling price of 33995.
First, can I do better on the price? Second, what would the lease payments be with this price (what is the residual and money factor for an 06 with navi)?
thanks.
The values I was told earlier this week for 06 with Navi were
Money Factor .0026
36 month / 15 k = 59% residual value
36 month / 12 k = 61% residual value
Mike
Mike
Thanks for any input.
Im waiting till dec slow down
expect some lease support by then
General rule of thumb for 36months/36k lease. Price of the car x 0.012 up to 0.014= lease price /month or $15 every $1000. The price should include everything except tax. FYI, I recently lease 2005 MDX with Navi for $38,000. Lease price zero down $470 per month ($515 with tax). Always negotiate the price first. Good luck.
Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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A few questions:
When calculating the TL MSRP in a lease equation, I have not been including the destination of $615. Instead, I have been including it in the cap cost (including it in the negotiated purchase price)... or calculating the cost as an out-of pocket expense..outside of the leasing formula. Otherwise, including it will throw off the depreciation numbers... Is this correct?
Secondly, Today (11-5)the dealer told me that the best 36 month lease rate offered by Honda on the 06 TL is .00285 (6.84%). Based on what I am reading here, this is simply not correct and about .6% higher than actual. He is also telling me that with a $31600 cap cost, a .61 resid, .00285 rate, 36 mo., 0 down and 1200 miles, a 2006 non-navi TL is $485 / mo inc. 6.75% tax with $595 origination + first month + title..etc = $1163 cash OTD. The only way I can get the math to work (to within $2)is to set the MSRP at $33940. He will do the same deal on 42 months, .57 resid at .0026 money factor for $455.99 inc 6.75% tax. $1134 cash OTD.
1. What do you think about the interest rate? Is everyone getting the same story or is the dealer trying to recoup some $$ via a jacked up interest rate?
2. What is happening with the math to come up with his number? Is it the treatment of the MSRP/destination?
Thanks a ton to all who reply....great forum.
regards,
kyfdx
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Car_man
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As far as this car's lease money factor goes. Honda is not currently providing any sort of lease support on the 2006 TL. As a result, if you were to lease one through Honda Finance right now, you would have to use its standard lease money factors, which it recently increased. Honda Finance's current buy rate lease money factor for a 36 month lease for consumers who pay a security deposit and qualify for its "Super Preferred" credit tier is .00260. If your credit is not perfect or you want to have your car's security deposit waived, your factor will be a little higher than this.
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