2013 and earlier-Acura TL Lease Questions

gasnet

i think so. i had this done on my 05 tl for 1000 installed.i leased also but just had to have it.the rear lip spoiler was not part of the deal though

23109vc

i figured you could. heck, with the car market getting so bad... i wonder if you could go in, get their best offer, and THEN say, in order to get me to pull the trigger, I want you to throw in the aspec spoiler kit, installed, at NO charge.

they may say no, and then you could walk out.

i still think we have yet to see the deals get as good as they are going to get. we are going into a recession. acura sales were down 20% compared to last years nub ers for january.... the mortgage/housing mess is affecting everything and people are not out droppping money on new cars the way they did the past few years.

the car makers are goin to get hungry and they are goin to start giving this stuff away.

just you wait

if you think you are getting good deals on the outgoing 08 models, wait and see how good the deals will be on the new improved 09.... $5 says it will be the SAME as they 08 deals. invoice or under, with mega cheap financing.

they may initially try to get MSRP and offer $hitty lease deals..and when NO ONE bites....they will drop it back down to what the deals are now.. or better.

coby03

Got this offer today from dealer:

2008 TL-S auto (black/black)
$1999 total at signing
$435/mo (plus taxes)
3 year/36K miles

Seems pretty good to me.

23109vc

that's a good deal.

i recently gotREALLY close to pulling the trigger on a TL-S and the best they would do for me...was $515 or so with no money down. forget the exact number.

i had a car to maybe trade in. they valued it at $3000. assuming I traded that car in with NO othermoney down, mymonthly was $435. that was for only 10k/year.

so your offer of 2k down and 435/month and 12k is pretty good.

you sure there was NO other money down?

CarMan@Edmunds

Welcome pfk. The best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible and then have the dealer calculate your monthly payment using the vehicle's buy rate lease money factor. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If I was in the market for a 2008 Acura TL-S right now, I personally would shoot for a selling price of around $500 over dealer invoice, which is $36,332 for an '08 TL with an automatic transmission but without the upgraded tires. The base money factor for this car is .00045 for consumers who qualify for Honda Finance's top credit tier and pay a security deposit at lease signing. Have the dealer use this price and this factor and you will be certain that you are getting a good deal.

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CarMan@Edmunds

Hey ajv123. Here's the latest. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura TL without navigation with 12,000 miles per year are .00045 and 56%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The money factor for an otherwise identical lease of an '08 TL with navigation is the same, but its residual value is 55%. If you were to lease with only 10,000 miles per year, these cars' residual values would be 1% higher. On a lease through Honda Finance, at lease signing you would have to pay your car's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, its $595 acquisition fee, and any required state taxes or fees.

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CarMan@Edmunds

Hi lease_bill. Honda Finance's current buy rate lease money factor for the '08 TL of .00045 is equivalent to the 1% interest rate that you mentioned. Furthermore, a selling price of slightly below dealer invoice on a leased TL is excellent. It sounds like you and your relative got an outstanding deal on this car .

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CarMan@Edmunds

Congratulations on getting your new TL, romo_007. You were able to get the dealer to use the lowest possible money factor to calculate the monthly payment on a TL being sold for less than dealer invoice. This looks like an excellent deal to me. Thanks for taking the time to share the details with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with everyone. Enjoy your new ride :shades: !

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bballww21

hi,
I just got this quote from my local dealer.

2008 TL auto with navigation system
12K/36mo
no down pay no security deposit
$2511.37 total at signing include 1st month, upfront tax, acq fee and other fees.
$410/mo
MSRP: $36940
i believe the money factor was 0.00055

what do you guys think??
is this a OK deal?
do you think I can get the 0.00045 money factor?

thanks alot

CarMan@Edmunds

Hi bballww21. The money factor that you were quoted looks good. It is right in line with Honda Finance's current buy rate for a lease of a 2008 Acura TL with a waived security deposit. The only way to get the .00045 factor is to pay a security deposit that's equivalent to your car's monthly payment rounded up to the nearest $25 increment at lease signing.

You never mentioned the selling price of this TL though. This is an important number 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 the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. Shoot for a selling price of around $34,498 ($500 over invoice for an '08 TL with nav).

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gooch_man

Can anyone explain how sales tax is determined on an auto lease. Looking at an Acura TL-S in New Jersey, state sales is 7 %. Is the total tax calculated on the agreed selling price minus residual value ? If so, is the interest also calculated this way.

Lastly, is there a place/web site to view residual values and money factor based on model [TL / TL-S] with 10K/12K/15K miles per year ?


Thanks !!!

gasnet

THE DIFFERENCE BETWEEN THE CAP COST AND RESIDUAL VALUE PLUS THE COST TO FINANCE.MULTIPLY THAT BY 7% (YOUR STATES TA RATE)

5

gooch_man

Gasnet:

Still slightly confused ... :confuse:

Are you saying I will be paying tax on the interest also ?

In other words, if we say the difference [between cap cost & residual] is $ 10,000 :

I will be paying $ 700.00 tax on the $ 10,000 [36 payments @ $19.45/month],
and also 7% tax on the total interest computed on the $10,000, again spread over 36 payments ?

kyfdx

You should probably contact the NJ DMV for a definitive answer... or a local dealer.. but..

It used to be that NJ only charged tax on the depreciation... and that was paid upfront (of course, you can roll any cost into the lease). But, now.. I think they charge tax on the sum of the monthly pre-tax payments, again, collected upfront.

It's definitely one of those two... Any dealer F&I person should know.

regards,
kyfdx

gasnet

Depreciation + Rent (finance charge) Tax is figured on adding these two. Sounds funky to pay tax on rent charge but thats what it is. I live in NY

gasnet

I have a 2005 TL with nav.My lease is up and i am getting another.The best car i ever owned,fun to drive.Handles better than most rear drive cars.Thats a fact.

gasnet

I have the spoiler kit on my 05 TL .I leased the vehicle and paid cash for this $1100 installed on delivery.It wasn't a smart thing but i did not care at the time.My lease is up this month if you want you can have mine.I live in NY

scooby7

hi,
I just got this quote from a local dealer.

2008 TL
12K/36mo
0 down payment
$400.00 total at signing (1st month), including all taxes and fees.
$400/mo


is this a OK deal?


thanks

gasnet

what about tax and bank fee? in the lease or upfront

scooby7

It includes all.

gasnet

good deal. whats your tax rate?

scooby7

~7.3%

soylentgreen

Did you receive tax credits (from Acura) with your deal?

idehuang

Hi,

I got quotes from 2 dealers from the very first response in Sacramento area. Do you guys think it is a good deal? Thanks a lot.

Dealer 1:
MSRP:$36,940
Sale price: he said it is invoice price
Lease based off of invoice with no money out of pocket your payment is $479.75 for 36 months 12K per year. Residual is $20,317 and money factor is .00045.

Dealer 2:
MSRP $36,940.00
Sale Price $33,948.33
Term 36
Residual @ 12,000 miles/yr $20,317.00
Special Money Factor .00045
Drive Off $744.23
Payment $421.14

How could both have hugh difference though one of them have $744 drive-off?
-ID

tl09looksbad

Acura TL Base with no Nav

36 months
15k a year
2000 down (traded in my old bucket w 130k miles so no money out of my pocket)
371 total a month (including tax.)

I am happy with the deal. Didn't ask about money factor or anything just asked about the bottom line on the payment. My credit is like 800 though.

gasnet

sounds to good to be true, something is missing Are you driving this car yet?

scooby7

Not an easy decission.

I just got another lease deal for a type S as follows:
36 mo/12k
1800 down (including first mo payment, all taxes, fees, DMV etc.)
410/mo.

The previous deal I got for a base TL was:
36 mo/12k
400/mo (including first mo payment, all taxes, fees, DMV etc.).

Any suggestions ?
Thanks

gasnet

Would like to know your cap cost?

gasnet

A type S for $410/mo With no cap cost reduction. Non way Does not add up.What is the agreed upon price of the car? Thats what everyone wants to know?

gasnet

Lets all be clear. A no money down lease means, no cap cost reduction.If sales tax,1st payment,bank fee and DMV fee is not included, lets be clear on this.

scooby7

I guess a part of the $1800 they asked - as down payment - is cap cost reduction.
Is it important I ask for the price of the car? (WHY)
Thanks

gasnet

I would like to sell you a bridge. $99mo No money Down Just sign here!!!

gasnet

What is your tax rate?

scooby7

Please review previous posts here (example #1151) showing similar deals.

gasnet

Lets assume your tax rate is at least 7% . Tax ,1st,bank fee ,DMV is at least $2000 Add the $1800 down THats $3800 due at signing. Are you driving this car yet?

gasnet

If your telling me all you need to show up with is $1800 and the payment is $410/36mo i can figure your cost of the car.Easy math

23109vc

this sounds too good to be true.

I was negotiating recently for a lease on a Type S and the best deal I got was a cap cost of invoice. it was around 35,700 give or take a few bucks.

with NO MONEY down, a true sign and drive - the monthly with 10k/year on a 36m lease was $525.

If I put down $3000 cap cost reduction, the payment came down to around $425.

these montly paymen figures all INCLUDED CA sales tax on top of the basic payment....so 425 was THE payment all inclusive.

your "offer" for a Type S with only $1800 down and a payment of 410/month sounds too low. maybe the 1800 was a cap cost reduction, the 410 was PRE tax, and then they would hit you up for the drive offs separately... so in reality, you'd be putting down around 2800 and y our payment would actually be 410 + tax = 430-450ish depending on tax rate...

if somone can really lease a new Type S with ONLY 1800 out of pocket....meaning you ONLY give them 1800 period at signing, and your payment is 410 WITH tax, that's a pretty good deal.

you need to get all the figures. i've found that some dealers will tell you what you want to hear to get you in the door and then they start adding crap. they will quote you payments PRE tax, they will quote you a selling price, but they are quoting you the price for a base model, not a type S, etc. they tell you they can sell you a Type S for $350/month, no problem, then when you show up, it's 350/month but you had to put 7000 down... that kind of crap.

get ALL the figures and get it in writing

Cap Cost
Money Factor
Residual Value
any cap cost reduction required
and make sure they quote you a payment WITH tax so you know what you will really be paying each month.

after I played wih the numbers from what you were offerd...assuming your payment is PRE tax, and looking at the best deal I was offered, your "deal" is basically about $1000 better than mine. I wonder if they are giving you the holdback too to get the price down? that's about $1000.... ???

niteflyerz

Car_man:

Before I close this lease, I wanted to run all the numbers by you wonderful folks on the board. Because of this board I was able to get my '07 Odyssey with an incredible deal by going just out of town to a dealer who needed to move units. I am trying this same approach now as I consider the 2008 TL. Here's my offer I got from the dealer:

MSRP $34,440
Sell Price $31,800 (Includes $600 Dealer Fee)
Cap Cost Rdctn $2,000
Financed $29,800
Residual (10K) 57% ($19,631)
Factor 0.00045 (1.09%)
Term 36 months
Tax Rate 6.5%
Monthly $324.53

Upfront Fees: DMV: $203 (any unused refunded in eventually); First Month $324.53; Acquisition $589; State/Doc Fees: $74

Total Out of Pocket is $3190 at inception (includes down payment and fees)

1. Dealer swears it's an incredible deal. Do you agree?

2. What do you estimate the dealer profit to be on this deal? I figure the $1,800 between invoice and sales price which includes his $600 dealer fee.

Let me know if you see anything questionable.

Thanks!

nite

cfrago

The national deal is: $359/mo, 10k a year, 1045 cap cost (total due 1999, which is 1045+acq fee of 595 and first month -more or less), net cap cost of 31723, buyout at end of lease 19631. Your additonal cap cost of about 1k equals about 28 less per month so your numbers seem in line with the national deal. If your monthly of 324 includes sales tax, the deal is a little better. good luck.

niteflyerz

Lease does include 6.5% tax. Thanx for the info. Something else just caught my eye - the MB C300 series - same class, better car - maybe. :shades:

rukiddingme1

Hi Everyone.
It's been probably covered before on this forum, but I have some questions.

When Leasing the TL w/Navigation or any car for that matter eveything I read says you should never tell the dealer if you are going to purchase or lease the vehicle. And that you should negotiate the price as low as possible before telling them how you want the car - is this correct when leasing?
So lets say you get the dealer to committ to a low price say at invoice + dealer cash even maybe holdback, would they then pull all that discounted money off the table when you say you want to lease the car?

I've have got 4 quotes from the Acura Internet Sales people on the TL w/navi and the lowest one I got was for $31,498 - I didn't tell him I was leasing or buying, just that I wanted the best price possible.
Do you think they will increase that price quote when I go in to lease the TL?
Maybe they would counter with a sell price at invoice only? ($33,900)

gasnet

The advice is correct, however on the TL there is holdback and this does not apply to the lease.I just picked up a TL non navi 36mo 15k
cap cost- 31300
bank fee- 595
Total cap cost- 31895
PAYMENT - $394
Tax, 1st, DMV Upfront

With same terms i dont see your payment over $425

kiln

Would you tell me the dealership you're working with? I'm also looking at a TL in Orlando and can't get the cost below $440 + tax (no money down).

I think it should be closer to $400.

Thank you.

rukiddingme1

So I can't touch the holdback, I figured that on a lease, but I should get the price down to invoice and then the dealer cash ($2,000) correct?

I have a quote at $29,740 on a Base TL (Cap Cost).
I'll come in with $2,000 to cover any fees. In Calif our tax is 7.75%
And with 12-15K miles per year I should have a price under $400.00 a month.

gasnet

no dealer cash on lease!!!!!just close to invoice 31000 on base TL. You will not get a price of 29740 on a lease.

gasnet

I thought you wanted Navi? Anyway $395 without $425 with navi
with bank fee in lease.Tax, 1st Upfront The best you will do

rukiddingme1

Bummer, just invoice huh? Well, that's what I thought on a lease. More money to work with on a purchase.
I read this thread on someone who did this on a lease on a TL w/Navi for $33,843 cap cost (financed price.) Thats about $1,000 less than invoice, see below;

Hello Peeps, I just leased an 2008 Acura TL with Nav. Heres what I paid

MSRP- 36940
Invoice- 34248
Purchase price- 33248 + 595 (Aquisition Fee)
Money factor- .00045
Residual- 55%
12k miles per year for 36 months
With all the DMV fee and registration and first months payment drive off = $935
Monthly Payment 431.48 per month including taxes 8.75%

gasnet

There is alot more play with navi. Under invoice i would say 33300 If fact thats what i based my $425 payment on. you decide navi or non I just came out of a 2005 TL with navi. My wifes garmin works better,save your money.Its not that great.DVD based system instead of harddrive based which would add mp3, phonebook store, and many more features.

tl09looksbad

Yeah I drove it off the lot the same day. White pearl with black interior. They had virtually every combo to choose from except red. The other dealer with similar offer only had black available. Anyway, I don't know if this helps, here was my process.

Went on to the Acrua website and applied for credit, got some sort of super preferred customer statues. I really don't think that means anything besides the fact that your credit is pretty decent.

Then I send some request for quotes out to near by dealers in Socal and all of the offers were pretty much the same, with only slight variation in the how much money out of your pocket when you drive off.

The dealer quoted me 2k down with 330 a month for 10k, then I asked for how much it would be for 15k and then the quote was 360. I got bit more than 2000 on my trade in and after everything it came out to be 371 a month including tax. Really didn't negotiate or anything, it was just come in and sign some papers and then left with the vehicle. I was happy with the quote and just wanted to get it done asap.

Not really trying to fool anyone here, just wanted to give my info because I checked on this topic regularly before I decided to lease it.

sftl1

Need some current info from the Acura pro's. I'm considering leasing a 08' TL w/Nav by the end of this month (Feb 08). I'm looking to lease for 36 months with 15K per year and just basic inception fees down (1st payment, bank fee, title, tags etc). Without really working a deal yet, I've been quoted:

36 month x 15k miles per year = $462.91 per month, including PA 9% tax, and $1186.41 due at signing.

How aggressive is this quote and what should be my target if you think I can do better than this?