2013 and earlier-Acura TL Lease Questions

gbomd

Can one end a lease with a different acura dealer than the dealer that one originally leased the car from? Leasing company is Honda Finance. Lease has less than 6 months till lease termination. Plan would be to end the lease with the old car and replace it with another TL leased from the new dealer. I don't mind waiting till lease-end although original dealer was willing to write a new lease and waive the remaining payments on the old lease. Obviously he anticipated I would lease the new car from him.

d_vree

Can anyone tell me what is the current money factor and residual for a 2006 TL with Nav for 12,000 miles/year at 36 and 42 months?

cleveman

Getting ready to replace my 2003 CL-S with a 2006 TL. Lease will be 15,000 for 42 months, probably through Honda finance. Need current money factor and residual and estimated lease cost range without tax. Two dealers are throwing around cost over $500 with tax - too much!

apex9

Just wondering if MF still remains .0026 for a 36 month lease and, if so, whether that rate is likely to change in the near future.
Also, does anyone have an opinion about performance tires vs. summer tires? Do the perf. tires make a significant difference in handling? Thanks in advance...

hammboy

I'm looking at leasing a new TL 2006 w/Navi and I got the following numbers from a dealer in N. California:

This is for a 48 month lease with 12K a year

MSRP $35,940.00
CAP $34,585.00
Sell $33,988.00

Residual $17,970.00
Money Factor .00290

1st Payment $877.37
After that monthly payment $537.13

supposedly this includes Ca. Tax of 8.5% and all other cost. So it is Out the door.

From what I have seen on the posts this seems high for the sale price, however I was wondering if you could tell me if this is a fair price or not.

Thanks and happy holidays

mvc_jones

For $100/month more with no money down and 12 extra months you could probably own the car. You may want to look at the residual (probably in the $16k range) vs. the extra payments (probably around $12k). In this case, unless you are compelled to lease, a buy is a better deal.

Your money factor is about 7% interest, vs better rates available on purchase loans (I got 1.9% on a buy, have seen 0.9% subsidized by dealers), so unless you are again compelled to lease for tax reasons, I think a buy makes better sense with these terms, even if you sell the car after 48 months.

hammboy

Thank you mvc_jones

You make a good point, may I ask where one would get a 1.9% new car loan?

Thanks

mvc_jones

Through AHFC with dealer buy down. When I bought my 2005 with NAV my local dealer bought down my rate to 1.9% to move the 2005's. Now they are buying down to 0.9%. They advertise this on full addendum price, but one can negotiate. In Oct 2005 I was able to get the my 2005/Auto/Nav with BSM, tinted windows, mudflaps, wheel locks and all season matts for the either $32k cash or $34k with AHFC 1.9% financing for 60 months. Since my Money Market yields about 4%, it was worth it to pay the extra $2k (essentially deferred interest payments) and take the 1.9% financing. With all taxes and state fees my monthly is $650/month for 60 months with nothing down. Probably could have squeezed the deal for another $1k +/- but I live in a one Acura dealer city where they do everything to keep the sale price high and going elsewhere at 400 miles + was not worth $1k to me (had a pregnant wife with first child due within the month so that added to lack of desire to travel, as well as registration, tax, time and other hassles.)

Leases for TL optioned with way with $0 down on a Nav unit with extras run around $500 - $550/month with tax for 36-48 months or so, so the purchase was a better deal, even if you sell at 48 months (I typically lease, but only if I can lease for $350 or less for cheap cars).

Just make sure in this type of instance to get GAP insurance to protect yourself as you are upside down for about 36 months. Dealers offer GAP insurance for about $500, I get through my insurance company for $30/yr for 3 years ($90 total), then drop it when I am not upside down for $10k of GAP coverage. Easy way to save another $400.

wanta06tl

Good evening,

Does anyone know the current residual and money factor for a 36 Month, 15,000 mile lease from Honda Financial Services?

2006 TL Non-Navi, A/T, 33,940 MSRP, credit score between 675 and 689. (standard credit scores, i.e. non-auto enhanced)

Thanks,

miamirocks

Hi Car_Man,

Here is the info on a Lease. The lowest quote out of 3 different dealers that I received is $1500 out of pocket with 419/mo plus tax. (429 dropped to 419 due to lease loyalty with Honda Financial). The MSRP is 33940 with a selling price of 31500. Both of these numbers include the destination charge. This is a 42mo lease on an 06TL Auto non-navi with 12K/year. I have contemplated dropping it to 10K, since I always fall under with my leases. My current 36mo/12K 03 Accord EXV6 lease maturity date is Jan 2 with 29,200 miles. Also, should I wait more towards Dec 31 or Jan 1 to see if the selling price may drop just a bit more, although the selling price is good. Any suggestions?

Thanks,and Happy Holidays to you and all the readers.

miamirocks

After yesterday's posting (#167), I requested a 10K/yr mileage quote. The dealer dropped the selling price to 31400. The lease quote (w/ 10K) is now $1500 out of pocket with 409/mo again 42months.

After that, one of the other dealerships called me when I mentioned this deal, they beat it. This time including destination changed the selling price to 30,800 which is under invoice. This deal is $1500 out of pocket with 399 plus tax. Also, 10K mileage and 42 mo.

This seems really good, although in some postings I have seen the selling is further below invoice as low as 30,300.

These end of year deals are excellent. :shades:

Any thoughts out there?

mnoker

If only Acura drops the MF for the TL. Its comes out to be about the same price as a BMW which is 6k more. Is there a chance for the MF to go down for the month of Jan?

gensherman

Hi car_man,

can you help me evaluate this 36 month lease offer on 2006 Acura TL Automatic, without NAV. It seems to be high to me, but maybe not since I need a total of 25,000 miles per year.

Below in quotes is a portion of the email I received from the salesman. I do not know the salesperson and have not set foot in the dealership yet.

"The money factor is .00270
Residual 59% (the net is 50.161% due to the additional miles)
Your buyout price is $17,024.60
Acquisition fee is $595
This Acura lease through American Honda has no disposition fee or purchase option fee.
There are no other fees other than standard excess wear and tear and excess mileage is figured at 25 cents per mile.
GAP is included...no additional fee.

Your total monthly payment is $600.47 which includes your usage tax. This is figured using $32000 as the selling price with only the first payment and a $50 license fee being due at signing (total $650.47)."

Thanks

micduf

Hi car man
I am looking to lease a new TL, no Navi. Lease man says, .0027 MF, based on 32,200 selling price.
15k mi. ayear and 36 months. w/ $1500 out of pocket $500.98 mo.
This sounds hi no? buy out $20,703 at end of 36 mo.
Is residual % based on selling price or MSRP
TIA!!

leaseboy

I am looking to lease a 2006 Tl w/out NAV. I have been quoted a cap cost of $31,900 and for a 42 month lease with $0 down at 18k/year at $569/month including a 7.5% sales tax. Is this in the ballpark. I leave in the Cleveland area

hammboy

Hi Car Man,

Just wanted to thank everyone for all the useful information. I'm in the process of negotiating with 3 dealers in the SF Bay Area for a 06 w/navi. In reviewing all the posts I came across this one from you.

I was hoping you could share the MF you used and what residual was used to come up with these monthly numbers ( 36 month and 48 month payments).

Thank You again

apex9

I, too, wanted to thank the forum and those on it for all the helpful info. Just leased a '06 TL with Navi at Acura of Santa Monica for 31,900 plus acquisition fee. 0 down, and drive off was 782 including first month's. The lease was through Wells Fargo at .0019 for base monthly payments of 441.52.
The deal went fairly smoothly and Acura of S.M. seems willing to sell at 31,900 price until the end of the year.

nc_driver1

Hi everybody.
Just test-drove a BMW, it feels like the car has no power steering.
Could you please let me know the numbers-money factor, residual value, best price- for a 36mo/15k miles lease on a TL without Navigation Syst?
Thank you in advance.

CarMan@Edmunds

Hi everyone. I've been away on vacation for a little while. I'm going to answer any questions that have been posted over the past couple of days. I would appreciate it if anyone who has an older question than than that they would still like to have answered would post it again. Thanks and Happy Holidays.

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CarMan@Edmunds

Hi micduf. The lease money factor that you were quoted to lease this car looks about right. It is difficult for me to say what this car's lease payment should be without knowing what its full MSRP is. If you let me know, I would be happy to work up a lease payment on it for you.

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CarMan@Edmunds

Greetings leaseboy. I would be happy to give you my opinion on the lease payment that you were quoted. However, it would be a big help if you would provide me with its full MSRP first. Let me know and I'll tell you what I think.

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CarMan@Edmunds

Hi hammboy. I'm glad that you find this discussion so informative. According to the latest information that I have seen, if you were to lease a 2006 Acura TL without navigation through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be around .00260 and 59%, respectively. The numbers for an otherwise identical 48 month lease should be .00235 and 49%. These money factors assume that you qualify for Honda Finance's top credit tier and pay a security deposit. If you were to lease with only 12,000 miles per year, the residual values would be 2% higher.

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CarMan@Edmunds

Congratulations on your new car, apex9. Thanks for taking the time to stop in and share the details of your deal with everyone. Enjoy and Happy Holidays!

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CarMan@Edmunds

Hello nc_driver1. According to the latest information that I have seen, if you were to lease a 2006 Acura TL without navigation through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00260 and 59%, respectively. This assumes that you qualify for its top credit tier and pay a security deposit.

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nc_driver1

Thank you for your prompt response Car_man.
I've noticed that some of the people here leased through Hann Financials or Wells Fargo. Do you happen to know their MF and RV for a top credit tier?
Thanks again.

miamirocks

Hi Car_man,

I hope that you had a good vacation. I'm also going out of town from Dec 29 through Jan 1.

I requested a 10K/yr mileage quote on AT non-navi 06TL. The dealer dropped the selling price to 31400. The lease quote (w/ 10K) is now $1500 out of pocket with 409/mo for 42months. This includes lease loyalty with American Honda (no sec. deposit due).

After that, one of the other dealerships called me when I mentioned this deal, they beat it. This time including destination changed the selling price to 30,800 which is under invoice. This deal is $1500 out of pocket with 399 plus tax. Also, 10K mileage and 42 mo. This seems really good, although in some postings I have seen the selling price is further below invoice as low as 30,300.

These end of year deals are excellent. :shades:

Also, both dealerships tell me that these prices are good through Dec 31. Is that true? When I leased my current Accord EXV6 it was on January 2 and got the end of year price from December. The Honda/Acura ad says lease specials are good through Jan 3. They told me that with a credit card deposit ($500 refundable deposit which will go towards the $1500 inception)they can lock in the price quote. I wanted to pick up the car after I get back either on Jan 1 or Jan 2.

Any thoughts?

hammboy

Congratulations on a great deal apex9.

It seems that here in the Bay area the lowest sale figure I have gotten after getting quotes from 4 dealers is 33,500 plus fees. I was wondering if your monthly payment of $441.52 includes Tax??

If I have to, I will fly down to SM and get a Car, still worth the saving.

TX

hammboy

Welcome back Car_Man,

Hope you enjoyed your holiday season and are not to overwhelmed with all the questions.

What does one have to score to qualify for top tier credit....I scored a 788 on TransUnion would think that would qualify for a better MF then .00275, which is the lowest I have receive to date?

TX

leaseboy

Car Man - MSRP is $33,325. Thanks for your help

gensherman

Hi Car_Man,

I am reposting this since I will meet with the dealer today or tomorrow to lease this car.

Can you help me evaluate this 36 month lease offer on 2006 Acura TL Automatic, without NAV. It seems to be high to me, but maybe not; the lease includes a total of 25,000 miles per year.

Below in quotes is a portion of the email I received from the salesman.

"The money factor is .00270
Residual 59% (the net is 50.161% due to the additional miles)
Your buyout price is $17,024.60
Acquisition fee is $595
This Acura lease through American Honda has no disposition fee or purchase option fee.
There are no other fees other than standard excess wear and tear and excess mileage is figured at 25 cents per mile.
GAP is included...no additional fee.

Your total monthly payment is $600.47 which includes your usage tax. This is figured using $32000 as the selling price with only the first payment and a $50 license fee being due at signing (total $650.47)."

Thanks so much for your help.

apex9

The 441.52 is without tax, but it still sounds like SM Acura is a better deal. My cap was 31,900 with acquisition fee of 795 and doc fee of 45 folded in for a total of 32,740.

bakkerj

Car man,

Any idea yet what the Honda Finance MFs and Residual figures are for the TL w/o navigation during January?

I got quotes yesterday on a 36 mo/15k lease at $487 + tax and $548 + tax (57% residual on the latter). These seem pretty bad. MSRP of these cars is $33,325.

Thanks,

John

maximafan

Hi, Apex9. I was wondering if you could
tell me how long your lease will be and how
many miles per year allowance did you get.
Sounds like a good deal for a TL with Navi.

I keep going back and forth between the TL,
the Maxima, Lexus IS and Nissan Murano.
Decisions, decisions!

apex9

The lease is 36 month/15.000 per year. The dealer indicated that he was pricing low to move out as many cars by the end of the year as possible and that prices would go back up in January. Not sure if that's true or not.

miamirocks

Hi All,

I did the end of year deal before Jan 1. I got the 06 non-navi auto TL with 1500 out of pocket and 399 plus tax for 42 mon. The selling price was below invoice at 30,800.

Sweet deal, plus this car rocks! :shades:

CarMan@Edmunds

You're very welcome, nc_driver1. Given the lack of lease support on the TL, I would not be surprised if Hahn or wells Fargo has a better lease program on it right now. Unfortunately, I have not seen their lease programs recently so I can't give you any details on them.

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CarMan@Edmunds

It was very nice, thanks miamirocks. You are absolutely right, the end of the year is an excellent time to purchase a new vehicle. If you are getting an Acura TL for under invoice, you are getting a great deal. The selling price that you are able to purchase your vehicle for is completely up to the dealership that you are working with. If they want to give you a certain price that is only available through the end of the year they are certainly free to do so. I would not be surprised if the price that you are able to get this car for at the end of December is a little better than the price during the first weeks of January.

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CarMan@Edmunds

Thanks hammboy. With your credit score, you should be able to easily qualify for Honda Finance's "Super Preferred" credit tier (its best one). Acura is not currently providing any sort of lease support on the 2006 TL. That means if you were to lease one through Honda Finance right now, you would have to use its standard lease program. Its current buy rate standard lease money factor for consumers who lease through it for 36 months, pay a security deposit, and qualify for its top credit tier is .00260. It increases to .000270 if you opt to have your security deposit waived.

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CarMan@Edmunds

Thanks for the additional informaiton, leaseboy. OK, so you were quoted a selling price of $33,325 for a 2006 acura TL without navigation that should have an MSRP of $33,940. This is only a discount of $600 on a car that has a spread of nearly $3,000 between its full MSRP and dealer invoice prices. I suspect that you should be able to get a better deal than this on this car. Let's say that you were able to lease one for $1,000 over invoice ($31,999). According to my calculations, that would put the 42 month, 15,000 miles per year, zero down, pre-tax monthly payment of this car at right around $452. You may want to shop around a little more. For additional feedback on how much you should pay for this car, make sure to stop by the following discussion: "Acura TL: Prices Paid & Buying Experience".

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CarMan@Edmunds

Hi John. I;ve seen this car's new January lease programs and would be glad to give you an idea of what it is like. If you were to lease a 2006 Acura TL without navigation through Honda finance this month for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00260 and 57%, respectively assuming that you qualify for its top credit tier and pay a security deposit. Let me know if you have any other questions.

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jaypolostls

Hello. My lease on my '03 TL-S is up in two weeks. I've seen so many different variables as far as selling price and lease payments. What I would like to know is what would be the most realistic selling price and lease payments for an '06 TL 6spd w/nav for 36/42 months. I've got about 5000.00 to put toward, have perfect credit, currently leasing another honda (3 hondas in total w/in the last 6 years) and would like my payments to stay w/in my current range of 370.00/mo. I'm in New York, and I've shopped around. Open Road Acura gave me no flexibility. And I'm debating going through my original dealer, paragon acura. Any suggestions would be helpful. thanks

CarMan@Edmunds

Hi jaypolostls. I noticed that in your post you mentioned that you have $5,000 to put down on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your TL would be exactly the same, regardless of whether you had put $5,000 down, or had made absolutely no down payment at all. You can always keep the $5,000 in the bank and use it to supplement your monthly payment or make a few for you.

I would think that in your area you would be able to get a 2006 TL for between $500 and $1,000 over dealer invoice. A 2006 TL with navigation has an MSRP of $35,940 and a dealer invoice of $32,820. Using these numbers as a guide and assuming a selling price of $750 over invoice, I estimate that this car should have a 36 month, 12,000 mile per year, zero down, pre-tax monthly payment of around $495. The payment for an otherwise identical 42 month lease should be around $462.

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leaseboy

Car Man, Here is my original post. Please note that the numbers below assume 18,000 miles per year. Is this a fair lease payment?

I am looking to lease a 2006 Tl w/out NAV. I have been quoted a cap cost of $31,900 and for a 42 month lease with $0 down at 18k/year at $569/month including a 7.5% sales tax. Is this in the ballpark. I leave in the Cleveland area

mixa

CarMan,
Do you happened to know if the new program applicable to 06 TL WITH Navigation?
Also, what do you estimate money factor, residual and payments should be for 0-down, 48month, 15000 m/y at invoice $32800?

I was told by a dealer that residual could have changed starting January... Any confirmation of that out there? What's the best place to get residual info?

Thanks,
Mike

naviguy

I found a new, 0 miles, leftover 2005 model at a dealer and was provided with numbers that don't entirely make sense so I wanted to run it by you. I'm told it's $1500 below invoice, and I'm putting $3000 total out of pocket for $498+tx/mo. I found the residual to be 52% on Edmunds, after 5 YEARS, this is 49% after only 3 years???? :confuse:

Here's the #s given to me:
Orig MSRP: $35,715
Base Inv: $32,600
Veh Price: $31,600
ACQ Fee: $595
Gross Cap Cost: $32,195
Cash Reduction: $1427.22
Net Cap Cost: $30,767.78
Total MSRP/CRV: $35,715
Residual: 49%, Resid Net: $17,500
Money Factor: .00270, Super Preferred
Front End profit: $-(1875.13)
Back End profit: $0
Reserve Profit: $+100
Total Profit: $-(1775.13)
Doc fee: $599.00
lic & other fees: $298
Miles/yr: 15,000
Cents/miles/start: $0.10
Cents/miles/End: $0.20
Tax: 7%
Monthly pymt: $533.78

naviguy

Just a thought, would it be better to purchase this car outright at the net cap cost? Since it's an 05 with no miles, and an in-service date of 2006, it'll offset the miles later on. Wouldn't that keep the value higher? If I drove 15k miles for the next 2 years, at the end of 2 years it would be a 3 year old car with 30k miles, or 10k/yr, right?

naviguy

Sorry, one last thing....if I were to buy, I'd save on the tax since I'm trading in a $24k vehicle. So I'd only pay taxes on the difference, right? Sorry for all the long questions, I just want to do the right thing.

mvc_jones

I would buy. Depending on interest rate, you could probably buy for a 60 month load with $0 down for about $600/month or so, all taxes included. Thats about $50 more for the lease payment, longer term, you own the car which is probably worth $12-$15k at 60 months. Seems like a no brainer to me... Just make sure to get GAP insurance through your agent, should be about $30/yr vs dealer which will ask you for about $550 for this.

naviguy

spoke with the dealer today, and it turns out that the 2006 actually works out better, since the residual is higher. The 06 actually has a program with 39 months, 15k miles/yr, and a $418 pymt+tx, with $4384 down (which inculdes a $500 refundable sec. dep & the 1st month's pymt). I think I'm just going to lease the 06.

jaypolostls

Thanks Car_man. I do realize that it is recommended against putting a lot out of pocket. Honestly, it really doesn't matter to me. I just have some disposable income that I'm tryin' to hide. I appreciate the #'s you worked out. Is it possible for you to give me my estimated payment w/the 5k down (36/42 mo.)? Thanks again!