2013 and earlier-Acura TL Lease Questions

CarMan@Edmunds

Hi jahlberg. The dealer invoice price for a 2009 Acura TL with just the Tech package is $36,366. If one subtracts the available $2,000 dealer cash from that, it drops to $34,366. The selling price that you were quoted is even lower than that. Plus, the money factor that the dealer provided you with is right in line with Honda Finance's buy rate for this model. This is an excellent deal. If you like the car, I personally don't see any reason not to go for it.

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CarMan@Edmunds

Here you go, acepkt. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor for a 24 month lease of a 2009 Acura TL AWD w/Tech and 12,000 miles per year are .00184 in the states that have Acura's enhanced program and .00230 in all other states. The corresponding 12,000 mile per year residual value for this car is 59%.

Yes, to the best of my knowledge the $2,000 dealer cash that Acura has been providing on TL Tech models is still available.

The last time that I checked, this models incentives were scheduled to run through September 8th. It's difficult to say what the lease program will be like on the 2010 TL will be like when it hits dealers.

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CarMan@Edmunds

Ggreetings latvaj1. The dealer invoice price for a 2009 Acura TL with just the Tech package is $36,366. If one subtracts the available $2,000 dealer cash from that, it drops to $34,366. The selling price that you were quoted is even lower than that. Plus, the money factor that the dealer provided you with is right in line with Honda Finance's buy rate for this model. This is an excellent deal. If you like the car, I personally don't see any reason not to go for it.

As far as this car's payment goes, I just worked up a zero down, pre-tax payment on the model that you are interested in using the price that you mentioned in your post and I came up with $471.

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CarMan@Edmunds

Hi claweave. Acura's July lease program was scheduled to run through September 8th. It is possible that it made an unscheduled revision to its program for August though. I'll make some calls today and see what I can find out if anything has changed. Please feel free to post a reminder for me and I'll fill you in on what I have been able to find out.

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claweave

Did they make any changes? Do you happen to know what the 36 month/15k per year residual % is? Is the money factor the same for 24 months? What's the Residual for 24 month/15k per year? Sorry for all the questions. My local dealer here will not tell me. That's "privileged Acura information".

billyperks2

I would advise you to run from that dealer.

claweave

I would unfortunately we don't have many Acura dealerships in central Indiana....

billyperks2

Point is, the money factor and residual are the two key factors in calculating a lease payment.How else would you know if you are getting a fair deal?

kingpcgeek

MF & Residuals are no more privileged then the interest rate for a purchase. Hell MF is the interest rate. This dealer wants people that don't know what they are doing when leasing.

ebeavers

Please can someone confirm if the $2,000 dealer cash is available only on the 09 TL Tech? My local dealer is telling me that the amount is reduced to $1,000 for a Base (non-tech) TL.
That being said, is $32,600 a fair sales price for a base TL?

gforce11

If the cash has been reduced to 1k, then 31200 would be better. I was offered 30,200 for the base TL last month, that includes destination. I was also offered $32,600 for the TL w/Tech. This is in Southern California.

G

ebeavers

I live in the N. Texas area.
Undoubtedly price varies by region somewhat, but can someone tell me if an offer from a Dallas dealer is an apples to apples comparison with one in Southern California?

10sfan

Best offer on a base TL from four Chicago area dealers was $32,000 including destination. This was at the end of July. Not sure of the dealer cash amount involved. Still waiting for a lower price as I am in no hurry.

claweave

I am still trying to find out what the residual % is on an 09 TL Tech with the 36 months/15k miles. Can anyone please help me?

acuratlfan

HEY CAR MAN

WHAT ARE THE RESIDUAL VALUES AND MONEY FACTOR FOR A TL TECH AWD AND TL AWD NO TECH FOR THE MONTH OF AUGUST.I WHANT TO LEASE FOR 39 MONTHS AND 10,000 MILES.I LIVE IN NEW YORK CITY.

kingpcgeek

Turn the CAP LOCK off. Its considered screaming, rude and lazy.

10sfan

Car Man, I have a price of $32,000 for the base TL, excluding TTL, with tier 1 credit which I am pre-qualified for at this time per Acura as a current lessee. What do you believe should be the target monthly payment with a12k/36mo lease term and with no cap cost reduction ? This is in the greater Chicago land area. Appreciate your thoughts. Thanks

acuratlfan

Thanks King BS GeEk.

canddmeyer

No lie. Most folks don't read cap locked posts except to see what clown made the post. You can thank me too, not that I give a hoot.

acuratlfan

I appologize to all.

skywalker5

Acura in Wisconsin offered me this for a 2009 TL Tech:

MSRP: $39,445
Sale Price: $36,484
36 months/15k year
$593.51/month with $1,310.83 due at delivery.
53% Residual
.00230 MF
5.10% Sales Tax

Very high! $36,336 is factory invoice according to www.truecar.com. Dealer cost is $33,205 according to www.truecar.com

I countered with a sales price of $32,991 and he said they won't even entertain the offer because they wouldn't make any money on the car.

Plus, the 2010's are coming out in September. I thought there would be more wiggle room with sales down 35% YTD and 2010's arriving next month.

kingpcgeek

5.52% interest rate isn't helping matters.

You could lease a G37X (four wheel drive) for $50-$75 a month less.

melbost

Dealer Quoted me the following 300 dollars under invoice(.00184 money factor)
$2500 down $486 a month

Knowing that I would never put money down is this a good deal ?

he told me these were fees which I do not believe ( does any one have the fees outlined and I also comming off a honda lease with intitles them credits correct ?

kingpcgeek

The fees will be 595 bank fee, dealer doc fee, state registration fees and first months payment. I'm sure that does not add up to $2500.

There is no discount for coming from a Honda lease. The fees are the same.

jahlberg

The deal I got was similar. $2K down, same lease rate and cost of the car. My lease payment is $485. The dealer can do a better deal. When I was working with them they said that they could do some sort of tax credits in our state (I'm in Illinois) which would have brought the lease payment down by about $100 per month. I know this because the one finance guy was a complete dope and adjusted the numbers in front of me and the lease payment dropped and he panicked. In the end it was the best lease deal that any of the dealers would do for me so I signed it.

The up front fees were $2K which consisted of title, destination charge, first payment, and other crap like that. I'm sure some of it went toward some up front costs as well.

10sfan

Suggest you contact Mullers Wood Field Acura or Pauley Acura, dealers in the Chicago land area for a much more competitive quote.

billyperks2

Why are you paying for title and destination charges as part of a upfront fees? The destination charges should have been apart of the total cost of the car.

The upfront fees should be
Bank-$595
First month- amt is determined by the deal you worked out
Conveyance- pure dealer profit (some states dont chart one)
DMV-this amt is determined by your state

CarMan@Edmunds

Hi ebeavers. I can confirm that the $2,000 dealer cash is indeed only available on the '09 TL Tech. As you mentioned the base model's dealer cash is only one grand.

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CarMan@Edmunds

Hi claweave. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura TL Tech with 15,000 miles per year are .00230 and 53%, respectively. This car's lease program is regional. In half of the country, its money factor is enhanced to .00184. If you tell me what state you are in, I can tell you if you are in one that has the better factor.

When negotiating your lease on this car, make sure to take the $2,000 dealer cash that is currently available on it into account.

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CarMan@Edmunds

Hey acuratlfan. You're in luck because you live in one of the states that has Acura's better regional lease program on this model.

Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura TL Tech 2WD with 12,000 miles per year in New York are .00184 and 56%, respectively. The numbers for an otherwise identical lease of an '09 TL AWD without Tech are .00184 and 57%.

I provided you with the 36 month lease program instead of the 39 month program because Acura's lease support is only available for up to 36 months. If you were to go with a 39 month lease, you would have to pay a higher interest rate.

When negotiating your lease on either of these cars, make sure to take the $2,000 dealer cash that is available on Tech models and $1,000 on models without Tech into account.

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CarMan@Edmunds

Hey 10sfan. You also are in a state where the more attractive lease program for this car is available. Let's work up a sample payment on the car that you're interested in and see what we come up with.

According to my calculations, if you were to lease a base 2009 Acura TL that has an MSRP $35,765 of and a selling price of $32,000 (which is very attractive BTW) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $410.

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corbo29

Just wanted to get some opinions on what to do when coming out of a lease and being way over on mileage. Heres the scoop...

4 year lease on an 06 TL ends in Oct. I currently have 106K milage which is more than double my allowance. I believe the residual value on the car was set at around $17k when the lease ends. The car is still in good shape and I wouldnt mind buying it but do you think there is a better option instead? (are the dealers cutting any deals on these type of cars to get newer ones sold? etc...) Any thoughts are appreciated.

Thanks!
Greg in Phoenix

ker2

In orlando, quoted $3000 down, $478/mth 10,000/yr miles for 36 months. Is the lease incentive or cash rebate available in our area to bring these numbers down?

acepkt

I have a quote for a 2009 TL SH-AWD w/ Tech
MSRP $42,235
+ 19" Diamond cut wheels - $2360 + Tires - $1243 + install labor = $3800
+Front, side, rear underbody spoiler - $360, $460,$360 + install labor = $1600
+destination - $810
_________________________
Total MSRP = $48,445

I want to sign tomorrow for the following deal.

Selling price = $43,000 including all options
24 month 15,000 mile lease = $980 per month
36 month 15,000 mile lease = $789 per month
both would be 1st payment and doc and reg fees only

manixxx

Car_man:

Hi, A local dealer, DCH Acura in Temecula, California, offered following lease "deal" on '09 TL Tech: Cash price $35k, with a $2,199 "Cap Reduction" for adjusted cap cost of $32.8k. $4,000 down, 36 mo lease at $399 plus tax = $435/month. Only 10k miles. Residual cost is $22,100, with a factor of 56%, with the money rate at 0.00184.

Sounds like a hose job to me. What do YOU think???

Thanks!!!

Manixxx

kingpcgeek

Do not do a cap cost reduction. Perfect explanation from leasecompare.com:

Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.

For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost.

The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider:

- Money down is taxable
- Take the money you would have put down and invest it
- Put your down payment in a savings account and use a portion each month to help make your lease payment

benzserviceguy

Just picked up our 09 TL w/Tech pkg.

Basque Red Pearl (almost Wine colored)
Taupe Interior

MSRP: $39,495 (has Pro Pack added which we really didn't care for & they threw it in = Mud guards, wheel locks & trunk liner - BIG Whoop)

Cap Cost = $34,237.00 (Included the 2K in trunk/incentive money)

Cap cost Reduction: $1,783.50

Adjusted Cap cost $33,048.50

Acquision fee: $595.00 (inc in adj cap cost)
Dealer doc fee: $45
Cali tire fee $8.75
T,T & L: $706.85
1st Month's payment = $455.90
($415.40 + $40.50 in California 9.75% tax for LA county)

TOTAL out of pocket (Driveoff) = $3,000 (see above for breakdown)

MF = .00184 (Tier 1 and/or Super preferred tier thru Honda Finance)
55% residual ($21,722.25)
12K yr/36 month term

Got it from the internet dept of KEYS ACURA in VAN NUYS, CA

One of the easiest & most pleasurable (if you can even use that in the same sentence) car buying experiences.

Good luck to all others as inventory is dwindling quickly!!

acuratlfan

hello one trade.

a few months ago i saw a similar add at vipauto.it was for a AWD non tech for 480.00 a month with zero down. just pay taxes and fees.a friend of mine told me
i was better off leasing from honda.when u return the car back to acura they give an allowance of 1,500 either to use towards your new lease or to be used on the ware and tareof the car.
Go to curry acura in scarsdale ny.i leased a tech non awd with 10k miles a year
36 months 1,676 out of pocket.my monthly payments are 485.00.
this is the best i could do,i worked directly with a manager and did not see a sales person.my payments are a little higher than what vipauto quated you but i put less money down.remember the less money u put down the better.
the name of the sales manager is jim

CarMan@Edmunds

Hi corbo29. Unfortunately, the only way for you to avoid having to pay a large excess mileage penalty is to purchase your car at lease-end. While individual dealers may claim to be willing to pay off some or all of your excess mileage penalty for you if you agree to purchase a new vehicle from them, in reality they do not have the ability to make this charge go away. All they would be doing would be using some of their profit from your new deal to pay your penalty off. Naturally them doing so will hamper your ability to get the best possible deal on your next vehicle.

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CarMan@Edmunds

Hi ker2. Florida is one of the states that Acura's special, enhanced lease money factor of .00184 is available in. This lease program is only scheduled to run though September 8th. It's difficult to say what Acura's new September program will look like at this point.

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CarMan@Edmunds

Hi manixxx. The first thing that I noticed about this deal is that you are being asked to make a $2,199 capitalized cost reduction on your lease. I always advise consumers not to make any down payments on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you're much safer going with a zero down lease.

Let's take a look at the selling price that you were quoted. The dealer invoice price of a 2009 Acura TL Tech 2WD is $36,366. If one subtracts the $2,000 dealer cash that Acura is currently providing on this car from that, it drops to $34,366. A selling price of $35,000 is a little over $600 over dealer invoice, which is a pretty good deal, particularly when it is paired with the lowest possible money factor...which you mentioned that the dealer is giving you.

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CarMan@Edmunds

Congratulations on getting your new TL, benzserviceguy. I;m glad to hear that you had such a pleasant dealer experience. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to tell others about it in even greater detail.

Enjoy your new ride :shades: !

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bd2000

So here is my scenario. I agreed to lease a 2009 TL AWD w/ Tech that was not yet on the lot with the idea being that the dealer had committed to their Acura Rep to take 5 TL AWD with Tech when built in late August. I got the color (int/ext) I wanted and no one in the new england (Ct, RI, MA, NH) had the color I wanted.

The dealer called me today to tell me that the cars were built but that Acura had made these 2010s and therefore the $2000 dealer incentive was gone (since it was only on 2009s). They told me the residual went up (which is good for my lease price) but the money factor had gone up significantly and therefore increased my price on the car...by about 40 bucks/month

I have 2 Questions:

First, has anybody else gotten this story and second if the money factor on leases did indeed change this year...(2010 models)?

thanks for your help!

kingpcgeek

Money factors, residuals and incentives are almost always different between model years.

stevef4

Did acura extend or better the 09 lease support?
The dealerships look empty

CarMan@Edmunds

Hi Steve. Acura is still providing lease support on the 2009 TL in September. Its program for this car varies by state. In some states Honda Finance's current buy rate for it is .00235. In others it was enhanced to .00188. If you tell me what state you are in, I would be happy to tell you which one you qualify for.

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stevef4

Im in Bay area of Northern California. The dealership is telling me .00188 mf
and residual of 53 percent for 36/12k lease. The sale price for TL w/tech is 32993
quote 499 tax included(9.75 percent) with 1013 drive off

jenp123

First time leasing a car and its been successful so far, lease is scheduled to end by January. I am already trying to figure out the route I want to take. I don't have all the numbers in front of me, but is it ever a good idea to purchase your vehicle? I have only 20k miles on my car and my allowance is 30k by end of January, so I will be well under. My car is in great shape, have had no problems. The buy out price is about 22k. Which seems decent from the standpoint of buying a 07 TL with Tech Package right now with 20k miles is over that amount. At least that is how I look at it.

I don't see any car comparable for me to lease, I would like to lease a SUV, but with Acura nothing seems to be reasonable. I am only paying $349 a mo, so everything else seems very inflated. I thought about buying used, but never have gone that route and it makes me just as nervous. I have heard people buy their car at lease end b/c of excess mileage but don't really hear the other way around. Would love to get some input, thanks!

billyperks2

Personally, I would buy the car on a two year loan.Try to bargain down the residual from 22k and also bargain hard for a decent interest rate (depends on your FICO score).Good luck.

mich_car_buyer

Car Man -- 2 question for you:
I got an email today from a dealer in SE Michigan ... he said that for a 36 month, 10,000 mile/yr lease on a base TL, the residual is 57% and the MF is .00150 ... those sound like pretty good numbers given the prior posts on here. I have not gone in or talked about the cap cost with the dealer, which will obviously play a big role in a lease payment. Q1) What would be a reasonable cap cost for a base TL? I trust that if it is somewhere right around invoice less the $2,000 incentive I should jump on it (assuming there are no other "surprises")? Q2) My current lease on a saab 93 runs until Thanksgiving, and I am willing to eat the last 2 payments -- the question is when does Acura generally stop leasing the prior year models? how big of a risk is it that if I wait they won't lease an 09 in October/November? Thx.