Hi rjwatl. Here's the numbers for the specific model and state that you mentioned.
Honda Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura TL SH-AWD without Tech with 12,000 miles per year in Georgia are .00134 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and opt to go with a zero due at signing lease.
The $2,250 dealer cash is available on all TL models that are equipped with the Tech package. The dealer cash for non-Tech models is $1,750.
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You are absolutely correct, skywalker5. While this is not always the case, Acura's current lease program for the TL does indeed vary by region.
Honda Finance's July buy rate lease money factor and residual value for a 36-month, $0 due at signing lease of a 2010 Acura TL Tech with 12,000 miles per year in Wisconsin are .00162 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
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Hi jamesbond15. Unfortunately, once consumers have signed their lease agreement and physically driven off in their vehicle it is impossible to change their contract.
Don't feel bad though. While is is true that Acura's money factors for the 2010 TL are more attractive in July than they were in June, its residual values dropped as well. The net result is payments that are fairly similar this month to what was available last month.
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Hello urnzway. Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2010 Acura TL SH-AWD with Tech and 12,000 miles per year in North Carolina are .00162 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and opt to go with a zero due at signing lease.
The residual value for a lease with only 10,000 miles per year is 1% higher.
When negotiating your deal, make sure to take advantage of the $2,250 dealer cash that is currently available on 2010 TL Tech models.
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Hi garrick. Acura's current lease program is scheduled to run through September 7th. While it certainly is possible that it could make an unscheduled revision to its programs, I expect that Acura's August lease program will be about the same as its current program.
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Hello , i just got a deal today with Acura and they are offering me $380/month with $1000 out of pocket for the 2010 TL without Tech....lease for 36 mo , 10K/yr .. I just want to ask if this is a good deal ? im planning to pick it up on Monday.... Thanks...
You need to find out how much the dealer is actually selling the car for.
I got a TL with tech in Los Angeles for $33,000. The lease payment is $384 per month (tax included which is 9.75% in LA). The deal had the $1,500 loyalty cash from Acura. And I paid about $900 out of pocket for the first month ($384), DMV fee (~$485), dealer doc fee ($45). Lease is 10k/yr, 36 months. This was a month ago, so some things might have changed. I also recommend you look up the price at www.truecar.com. You should be able to get the car for the lowest price listed there. For me, truecar is showing that the dealer cost is $33,800, but as you can see I got it below "dealer cost" Again, most importantly you need to get the actual sales price of the car.
A reporter is looking to speak to consumers who recently got a new vehicle because of the great lease deal. Please send your daytime phone number and the car you purchased to ctalati@edmunds.com by Friday, August 6, 2010. Thanks, Chintan Corporate Communications Edmunds.com
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Got the following lease in North California (bay area) for TL + Tech
12K Miles/ 36 month lease 379+tax = 415 per month for 35 months 0 down (had to pay title of about 542/- at the time of lease) Cap cost = 34341+595 (acquisition cost)
I'm toying with the notion of a new TL, but can't decide on the Tech package. Could I trouble you for the money factor and residual value for a 12k mile 36 month lease on both vehicles? I'm one of those worthless nuts from Ohio. Many thanks!
Is the advertised deal below a good one. 0 down, 0 due, 0 sd, 0 across and $450 for 35 months.
If not, why and what do you think can be negotiated.
2010 TL Regional Featured Special Lease - Zero Due at Lease Signing $0 down payment, $0 security deposit, $0 first month's payment, $0 due at lease signing Excludes taxes, titles and fees. $450.00 a month for 35 months thereafter. For well-qualified buyers.
Offer only available to residents of the following states: AL, AK, AZ, CT, DE, FL, GA, HI, IA, ID, IL, IN, MA, ME, MI, MN, ND, NJ, NM, NV, NY, OH, PA, RI, SD, UT & WY.� FEATURED SPECIAL LEASE: Closed-end lease for 2010 TL 5 Speed Automatic (Model UA8F2AJW) for $450.00 per month for 36 months with $0 capitalized cost reduction available to customers who qualify for the Acura Financial Services Super Preferred or Preferred credit tier. Other rates/tiers are available under this offer. $0.00 due at lease signing ($0 first month's payment, $0 capitalized cost reduction and $0 security deposit; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify. $0 due at lease signing offer requires dealer contribution, which could affect final negotiated transaction.
Subject to limited availability. From July 7, 2010 through September 7, 2010, to approved lessees by Acura Financial Services. Closed end lease for 2010 TL 5 Speed Automatic (Model UA8F2AJW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $35,965.00 (includes destination). Net capitalized cost $34,720.74. Net capitalized cost includes $595 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $15,750.00. Option to purchase at lease end $21,219.35. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 10,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 10,000 miles/year. See dealer for complete details.
I believe there is $1,500 loyalty cash available as well as $1,750 marketing support. If you qualify for the loyalty cash, then the total incentive amounts to $3,250. Assuming you qualify for the loyalty cash, I would start with 32,700 - 3,250 or 29,450 and negotiate from there. Remember, you can always come up but never down.
To be sure, you may want to check Edmund's invoice pricing and incentives that are available for this vehicle. Also, check...
Wow thanks for the explanation. I have a better understanding of what the various numbers discussed on this board mean. What are the ranges is considered a good deal.
is the gross cap cost of 34,720.74, an F of .00134, and a residual factor of 59% good?
How should I evaluate these numbers for this lease and others in the future. I'm sure this information will also help a great number of people.
When leasing, the objective is to minimize your total cost. Minimizing payments translates to low selling price, low money factor, and high residual. The lower the selling price; the lower the gross and adjusted cap and, the lower the adjusted cap; the lower the payment. Low money factor and high residual also means lower payments.
You can see the relationship among all relevant variables just be examining the following three formulas...
G = S + A C = G - D P = F x (C + R) + (C - R)/N
G = gross cap S = sell price A = amounts financed (capitalized) C = adj. cap D = cap reduction P = monthly payment F = money factor R = residual value N = term
A great deal for me is a deal that few dealers would be willing to make. The key to a great deal is to negotiate a low selling price and to get the lowest money factor possible. Understanding and evaluating a lease is done by following the flow in this post and in my post #2326.
A Note on Money Factors...
Money factors generally follow a tiered structure. Here's a hypothetical example...
Reserves are similar to points paid for a mortgage loan but only in reverse. In mortgage financing, points are charged to buydown the interest rate where 1 point equates to 1% of the amount borrowed. In car financing, reserves are used as an incentive (reward) for dealers to write loans or leases at rates exceeding the buy rate. The "buy" rate, also known as base rate, is the rate used by the lender to calculate the finance charge, all of which, is retained by the lender. In other words, the lender doesn't share any portion of the finance charge with the dealer. But, if the dealer writes a loan or lease at a rate that exceeds the "buy" rate, then the dealer has earned the right to be compensated by receiving a portion of the finance charge. The amount of compensation is typically 75% of the difference between the total finance charges.
In some instances, if the dealer writes a lease with a money factor of say 0.00160, then they will be compensated with its associated reserve level of 2%. This means the dealership receives roughly 2% of adjusted capcost assuming the adjusted cap does not include bank related fees. A bank isn't going to allow a dealer to earn reserves on their bank (acquisition) fees.
The term "reserves" is actually an old term. It used to be that dealers weren't entitled to reserves until the end of the lease and, so, the fund provider would "reserve" those dollars for the dealer until the lease was satisfactorily fulfilled.
Now, there are those fund providers that offer a tiered structure that depends only on the customer's credit score. They pay the dealer a flat fee instead of reserves regardless of the tiered rate selected. In this case, the very best rate is called the buy rate and is reserved (no pun intended) only for those with the very best credit.
A note regarding down payments (cap reductions)...
I do not advise making a cash down payment (i.e., cash cap reduction). A car is a depreciating asset and is purchased for consumption; and so, it's an expense and not an investment. No savvy investor would ever invest in stock that they know will depreciate or lose value over time. Also, if the vehicle is totaled in an accident or stolen, but never recovered, the insurance carrier will only pay ACV (actual cash value or est. market value). If your lease balance exceeds the ACV (called the GAP), your Acura lease GAP protection will cover the difference. This GAP narrows the larger the down payment. Large down payments can cause the ACV to exceed the lease balance (negative GAP). In such cases, you necessarily risk losing part or all of your cap reduction if your car is totaled or stolen but never recovered. All AFS leases provide GAP coverage at no additional charge. To wit...
Go to www.truecar.com and price the car you want. You will see what people in your area are paying for the cars.
I just priced the TL base in Los Angeles. They are going for around $31,000+. You have much more room to negotiate. Tell them you want the base cap cost to be $31,500. It gives them some good profit and gives you a great price. (This is for LA, I would imagine that prices are similar where you are. Just use truecar.com to price it and see).
Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura TL AWD with Tech and 12,000 miles per year in Maryland are .00162 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
When negotiating your lease on this car, make sure to take advantage of the $2,250 dealer cash that is currently available on it.
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It's no trouble at all, wing5nut, I'd be happy to help you out. Though I must say as a Penn State fan it pains me to do so .
Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2010 TL without Tech with 12,000 miles per year in Ohio are .00134 and 58%, respectively for consumers who opt to go with a nothing due at signing lease and qualify for its top aka "Super Preferred" credit tier.
The numbers for an otherwise identical lease of a '10 TL with Tech are .00134 and 55%.
When negotiating your deal, make sure to take advantage of the $1,750 dealer cash that is available on TLs without Tech and $2,250 on TLs with Tech.
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With all due respect to the honorable "Joe Pa", thanks for the feedback Car_man! What is the impact to those numbers if you choose not to go with zero due at lease signing? Does the money factor decrease? Thanks!
The impact upon the money factor if you choose to not go with a zero due at signing lease is minimal. If you want to put money down, the money factor actually increases by .00010.
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They sent me a letter with the code. However, you can also call Acura Financial and they will give you the info/code. Or the dealer can call Acura and get the code themselves while you are at the dealers.
Hello. I was reading some of these offers and I was amazed I was offered such a different deal. I was offered $1250 down,$519 a month for a 36 month, 10k lease on a 2WD TL with Tech. I live in the Miami, Florida area. Any advice is appreciated.
That is way too much. Shop around. Visit www.truecar.com to see how much the cars are going for in your area. Also ask how much the dealer is selling the car to you for (yeah, it is a lease but there is still a sales price). Aim to getting a TL with navi for $33,500 or so.
Ask the dealer for the sales price of the car (yes, you are getting a lease but there is still a sales price). Then check truecar.com to see how it compares.
Without a doubt, that was a rather counter-intuitive response. Just goes to show how valuable your feedback is to the car-buying public. Again, many thanks!
Yeah, that is probably the base cap cost (or sales price). That is very overpriced if judging by truecar.com I would aim for $35,000 for a TL with AWD (no tech). Here is what I did: I found out the residual value and money factor that they will use. From my understand, this doesn't change from dealer to dealer. Then I would use this calculator to get the money payment. http://www.leaseguide.com/calc.htm I would then e-mail internet sales individuals at the dealerships in my area. (You can get their e-mails by visiting the dealership's website and requesting a quote. They will e-mail you some crazy number, you reply with your number.) For example, here is the e-mail I sent to a dealer: TL with Navi MSRP: $39,645 Lease price (Base cap cost): $33,000 Acquisition fee: $595 Down Payment: $1,500 Net Cap Cost: $32,095 RV: 58% MF: .00162 Term: 36 months, 10k miles per year Sales Tax: 9.75
Monthly payment: $375.40 (tax included)
I sent that to 4 dealers. Two said no, and two said yes. I suggest you do the same. Don't visit them, don't call them. Do everything via the internet. Don't fall for the "come visit and and we will talk about it."
So go find the MSRP for the car you want. Luckily with Acura all the cars of the same trim have the same MSRP. You can even pick a car out from the dealer's website. The more specific you are, the more seriously they will take you. I would put in $35000 for the base cap cost. Add in $595 for the acquisition fee.
Hi rhagel. Honda Finance's September California buy rate lease money factor and residual value for a 36 month lease of a base 2010 Acura TL with 10,000 miles per year are .00097 and 57%, respectively for consumers who qualify for its top credit tier and pay nothing at lease signing.
When negotiating your lease on this car, make sure to take advantage of the $1,750 dealer cash that is currently available on it.
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Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 TL Tech in New York with 15,000 miles per year are .00134 and 51%, respectively for consumers who qualify for its top credit tier and put nothing down at signing.
The numbers for an otherwise identical lease of a 2010 TL Tech AWD in your area are .00134 and 52%.
When negotiating your lease on either of these cars, make sure to take advantage of the $2,250 dealer cash that is currently available on them.
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Hey docrb. Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2010 TL Tech with 12,000 miles per year in New York are .00134 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and go with a nothing due at signing lease.
The numbers for an otherwise identical lease of a 2011 TL Tech are .00190 and 58%.
When negotiating your lease, make sure take advantage of the $2,250 dealer cash that is currently available on the 2010 TL Tech. There is no dealer cash on the '11 model.
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Would you be so kind to give me the current MF and Residual for a TL with Tech at 10K per year (non AWD), for the state of Florida (Miami Dade County). want to compare it to what the dealer stated it was. Thanks
On a side note, was just offered the following deal, anyone have any advice on whether this is a good deal, and for proceeding with other dealers:
2010 TL + NAV (Front wheel drive) lease for 36 mos (will be turning in existing TL lease which is up in Feb 2011, great condition):
MSRP: 39,695.00 MF: .00134 Resid: 54%; or $21435.30 Gross Cap cost: 36,097.59 (includes $595 acq fee)
$800 down, $463 a month + tax= $495.41 (total payment).
car man or nayone, my lease for my 08 acura is up in dec. acura wants to waive m sept-oct- and nov payments. they want to offer me 431/mo with tax ( i am in pa so 9% leas tax) or 10K miles a year, for 3 years and 1586 due at signing to include 1st month payment,initial title payments, doc fee, aquistion fee, and tax on aquistion fee. is this a god deal? i really want 12K miles but they are saying they will roll over my 5K unused miles.
we never talked msrp- sale price- residual- or money factor since they want to offer me almost the same deal but 6k miles less over 3 years.
do you know what the residual and money factor is for the 2010 acura tl tech front wheel in pa? also what is a good sale price and msrp?
in 08 i negotialed the tl leasewith navi for 437/mo inlcuding tax with 1400 in inception fees. msrp was 36,940, sale price 33,900, 57% residual, and .00081 MF for 36 months and 12K miles.. the 1400 inclued the 1st month at 437 w/ tax, 124.50 itital title, 189.00 doc fee, 595 acquistion fee, and 53.55 tax on aquistion fee.
please let me know if this a good deal. i also go them to throw in mathcing splash gurads.
Would you mind giving me the current MF and Residuals for AWD TL w/Tech for 2010 and 2011 (Boston area)? Would be looking at both 12K and 15K lease options.
just my opinion, but not a good deal. i'm in a similar situation. i have an '08 base tl that will be coming off lease in feb. '11. i'll probably have 10k unused miles at lease end and the car is in excellent condition. the residual was set at $19k and i'm thinking all things considered - especially the state the wholesale car market is in right now (wholesale prices climbing) - the car will be worth more than $19k when it's time to turn it in. i don't know what your residual is or the car's condition, but you might be in a good position to shop the car around and make a few bucks to pocket or put towards another deal rather than turn it in for another lease; especially one that would require you to shell out $1500 in fees. i wouldn't do the deal as outlined. i think you might be in a position for them to sweeten the deal somehow.
Comments
Honda Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura TL SH-AWD without Tech with 12,000 miles per year in Georgia are .00134 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and opt to go with a zero due at signing lease.
The $2,250 dealer cash is available on all TL models that are equipped with the Tech package. The dealer cash for non-Tech models is $1,750.
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Honda Finance's July buy rate lease money factor and residual value for a 36-month, $0 due at signing lease of a 2010 Acura TL Tech with 12,000 miles per year in Wisconsin are .00162 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
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Don't feel bad though. While is is true that Acura's money factors for the 2010 TL are more attractive in July than they were in June, its residual values dropped as well. The net result is payments that are fairly similar this month to what was available last month.
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The residual value for a lease with only 10,000 miles per year is 1% higher.
When negotiating your deal, make sure to take advantage of the $2,250 dealer cash that is currently available on 2010 TL Tech models.
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Can I please get MF and Residual for Acura TL SH-AWD w/Tech for 10k and 12k miles in Maryland please?
thank you
I got a TL with tech in Los Angeles for $33,000. The lease payment is $384 per month (tax included which is 9.75% in LA).
The deal had the $1,500 loyalty cash from Acura.
And I paid about $900 out of pocket for the first month ($384), DMV fee (~$485), dealer doc fee ($45).
Lease is 10k/yr, 36 months.
This was a month ago, so some things might have changed. I also recommend you look up the price at www.truecar.com. You should be able to get the car for the lowest price listed there. For me, truecar is showing that the dealer cost is $33,800, but as you can see I got it below "dealer cost"
Again, most importantly you need to get the actual sales price of the car.
Thanks,
Chintan
Corporate Communications
Edmunds.com
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12K Miles/ 36 month lease
379+tax = 415 per month for 35 months
0 down (had to pay title of about 542/- at the time of lease)
Cap cost = 34341+595 (acquisition cost)
I'm toying with the notion of a new TL, but can't decide on the Tech package. Could I trouble you for the money factor and residual value for a 12k mile 36 month lease on both vehicles? I'm one of those worthless nuts from Ohio. Many thanks!
wing5nut
If not, why and what do you think can be negotiated.
2010 TL Regional Featured Special Lease - Zero Due at Lease Signing
$0 down payment, $0 security deposit, $0 first month's payment, $0 due at lease signing Excludes taxes, titles and fees. $450.00 a month for 35 months thereafter. For well-qualified buyers.
Offer only available to residents of the following states: AL, AK, AZ, CT, DE, FL, GA, HI, IA, ID, IL, IN, MA, ME, MI, MN, ND, NJ, NM, NV, NY, OH, PA, RI, SD, UT & WY.� FEATURED SPECIAL LEASE: Closed-end lease for 2010 TL 5 Speed Automatic (Model UA8F2AJW) for $450.00 per month for 36 months with $0 capitalized cost reduction available to customers who qualify for the Acura Financial Services Super Preferred or Preferred credit tier. Other rates/tiers are available under this offer. $0.00 due at lease signing ($0 first month's payment, $0 capitalized cost reduction and $0 security deposit; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify. $0 due at lease signing offer requires dealer contribution, which could affect final negotiated transaction.
Subject to limited availability. From July 7, 2010 through September 7, 2010, to approved lessees by Acura Financial Services. Closed end lease for 2010 TL 5 Speed Automatic (Model UA8F2AJW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $35,965.00 (includes destination). Net capitalized cost $34,720.74. Net capitalized cost includes $595 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $15,750.00. Option to purchase at lease end $21,219.35. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 10,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 10,000 miles/year. See dealer for complete details.
Based on the information provided in the Ad, I was able to construct the following...
MSRP.................................... 35,965.00
Sell Price (S).......................... 34,125.74 (NEGOTIABLE)
Amounts Financed (A)
Acq. Fee.................................... 595.00
Gross Cap Cost (G).................. 34,720.74
Cap Reduction (D).................... 0.00
Adj (net) Cap Cost (C).............. 34,720.74
Cost of Money/Residual
Money Factor (F)................... 0.00134
Residual Factor..................... 59%
Residual Value (R)................ 21,219.35 (Res. Factor x MSRP)
Term (N).............................. 36
There are basically three equations used to structure a lease...
G = S + A (1)
C = G - D (2)
Monthly Payment = F x (C + R) + (C - R) / N (3)
= 0.00134 x (34,720.74 + 21,219.35) + (34,720.74 - 21,219.35) / 36
= 450.00
I believe there is $1,500 loyalty cash available as well as $1,750 marketing support. If you qualify for the loyalty cash, then the total incentive amounts to $3,250. Assuming you qualify for the loyalty cash, I would start with 32,700 - 3,250 or 29,450 and negotiate from there. Remember, you can always come up but never down.
To be sure, you may want to check Edmund's invoice pricing and incentives that are available for this vehicle. Also, check...
http://cars.overstock.com/main.html?referrer_id=ZOSC000670
for competitively low selling prices in your area.
John
is the gross cap cost of 34,720.74, an F of .00134, and a residual factor of 59% good?
How should I evaluate these numbers for this lease and others in the future. I'm sure this information will also help a great number of people.
When leasing, the objective is to minimize your total cost. Minimizing payments translates to low selling price, low money factor, and high residual. The lower the selling price; the lower the gross and adjusted cap and, the lower the adjusted cap; the lower the payment. Low money factor and high residual also means lower payments.
You can see the relationship among all relevant variables just be examining the following three formulas...
G = S + A
C = G - D
P = F x (C + R) + (C - R)/N
G = gross cap
S = sell price
A = amounts financed (capitalized)
C = adj. cap
D = cap reduction
P = monthly payment
F = money factor
R = residual value
N = term
A great deal for me is a deal that few dealers would be willing to make. The key to a great deal is to negotiate a low selling price and to get the lowest money factor possible. Understanding and evaluating a lease is done by following the flow in this post and in my post #2326.
A Note on Money Factors...
Money factors generally follow a tiered structure. Here's a hypothetical example...
0.00120 + 0% Reserves.... "buy" rate
0.00140 + 1% Reserves
0.00160 + 2% Reserves
0.00180 + 3% Reserves
Reserves are similar to points paid for a mortgage loan but only in reverse. In mortgage financing, points are charged to buydown the interest rate where 1 point equates to 1% of the amount borrowed. In car financing, reserves are used as an incentive (reward) for dealers to write loans or leases at rates exceeding the buy rate. The "buy" rate, also known as base rate, is the rate used by the lender to calculate the finance charge, all of which, is retained by the lender. In other words, the lender doesn't share any portion of the finance charge with the dealer. But, if the dealer writes a loan or lease at a rate that exceeds the "buy" rate, then the dealer has earned the right to be compensated by receiving a portion of the finance charge. The amount of compensation is typically 75% of the difference between the total finance charges.
In some instances, if the dealer writes a lease with a money factor of say 0.00160, then they will be compensated with its associated reserve level of 2%. This means the dealership receives roughly 2% of adjusted capcost assuming the adjusted cap does not include bank related fees. A bank isn't going to allow a dealer to earn reserves on their bank (acquisition) fees.
The term "reserves" is actually an old term. It used to be that dealers weren't entitled to reserves until the end of the lease and, so, the fund provider would "reserve" those dollars for the dealer until the lease was satisfactorily fulfilled.
Now, there are those fund providers that offer a tiered structure that depends only on the customer's credit score. They pay the dealer a flat fee instead of reserves regardless of the tiered rate selected. In this case, the very best rate is called the buy rate and is reserved (no pun intended) only for those with the very best credit.
A note regarding down payments (cap reductions)...
I do not advise making a cash down payment (i.e., cash cap reduction). A car is a depreciating asset and is purchased for consumption; and so, it's an expense and not an investment. No savvy investor would ever invest in stock that they know will depreciate or lose value over time. Also, if the vehicle is totaled in an accident or stolen, but never recovered, the insurance carrier will only pay ACV (actual cash value or est. market value). If your lease balance exceeds the ACV (called the GAP), your Acura lease GAP protection will cover the difference. This GAP narrows the larger the down payment. Large down payments can cause the ACV to exceed the lease balance (negative GAP). In such cases, you necessarily risk losing part or all of your cap reduction if your car is totaled or stolen but never recovered. All AFS leases provide GAP coverage at no additional charge. To wit...
http://www.acurafinancialservices.com/lease/lease_faqs.aspx
Hope this was more helpful than confusing.
John
What you need to do is confirm that the 0.00134 money factor is the buy rate. You'll also need to research the selling price.
John
I just priced the TL base in Los Angeles. They are going for around $31,000+. You have much more room to negotiate. Tell them you want the base cap cost to be $31,500. It gives them some good profit and gives you a great price. (This is for LA, I would imagine that prices are similar where you are. Just use truecar.com to price it and see).
The base model $360 including tax. This include $1400 out of pocket and with 15K miles a year.
There is always room for negotiation.
Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura TL AWD with Tech and 12,000 miles per year in Maryland are .00162 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
When negotiating your lease on this car, make sure to take advantage of the $2,250 dealer cash that is currently available on it.
Car_man
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Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2010 TL without Tech with 12,000 miles per year in Ohio are .00134 and 58%, respectively for consumers who opt to go with a nothing due at signing lease and qualify for its top aka "Super Preferred" credit tier.
The numbers for an otherwise identical lease of a '10 TL with Tech are .00134 and 55%.
When negotiating your deal, make sure to take advantage of the $1,750 dealer cash that is available on TLs without Tech and $2,250 on TLs with Tech.
Car_man
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wing5nut
The impact upon the money factor if you choose to not go with a zero due at signing lease is minimal. If you want to put money down, the money factor actually increases by .00010.
Car_man
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2010 TL with AWD (automatic, no Technology Package)
36 months with 15,000 miles/year
nothing down exept tax, title, fees, & 1st payment.
Thanks!
Then check truecar.com to see how it compares.
Without a doubt, that was a rather counter-intuitive response. Just goes to show how valuable your feedback is to the car-buying public. Again, many thanks!
wing5nut
The invoice price is pointless. What did they give you for "Veh Price", that might be it.
I would aim for $35,000 for a TL with AWD (no tech).
Here is what I did: I found out the residual value and money factor that they will use. From my understand, this doesn't change from dealer to dealer. Then I would use this calculator to get the money payment.
http://www.leaseguide.com/calc.htm
I would then e-mail internet sales individuals at the dealerships in my area. (You can get their e-mails by visiting the dealership's website and requesting a quote. They will e-mail you some crazy number, you reply with your number.)
For example, here is the e-mail I sent to a dealer:
TL with Navi
MSRP: $39,645
Lease price (Base cap cost): $33,000
Acquisition fee: $595
Down Payment: $1,500
Net Cap Cost: $32,095
RV: 58%
MF: .00162
Term: 36 months, 10k miles per year
Sales Tax: 9.75
Monthly payment: $375.40 (tax included)
I sent that to 4 dealers. Two said no, and two said yes. I suggest you do the same. Don't visit them, don't call them. Do everything via the internet. Don't fall for the "come visit and and we will talk about it."
So go find the MSRP for the car you want. Luckily with Acura all the cars of the same trim have the same MSRP. You can even pick a car out from the dealer's website. The more specific you are, the more seriously they will take you.
I would put in $35000 for the base cap cost.
Add in $595 for the acquisition fee.
Good luck!
msrp 35965
cap cost 31482
mf 0.00134
res: 58%
Monthly 390.12 for 36 month. About $955 due at signing which includes
first month.
Car_man
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Would you be so kind to give us the current MF and Residual for a TL with Tech at 15K per year.
Additionally, the same for TL AWD with Tech. State would be New York.
When negotiating your lease on this car, make sure to take advantage of the $1,750 dealer cash that is currently available on it.
Car_man
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Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 TL Tech in New York with 15,000 miles per year are .00134 and 51%, respectively for consumers who qualify for its top credit tier and put nothing down at signing.
The numbers for an otherwise identical lease of a 2010 TL Tech AWD in your area are .00134 and 52%.
When negotiating your lease on either of these cars, make sure to take advantage of the $2,250 dealer cash that is currently available on them.
Car_man
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Any number on the 2011?
Tks
The numbers for an otherwise identical lease of a 2011 TL Tech are .00190 and 58%.
When negotiating your lease, make sure take advantage of the $2,250 dealer cash that is currently available on the 2010 TL Tech. There is no dealer cash on the '11 model.
Car_man
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Would you be so kind to give me the current MF and Residual for a TL with Tech at 10K per year (non AWD), for the state of Florida (Miami Dade County). want to compare it to what the dealer stated it was. Thanks
On a side note, was just offered the following deal, anyone have any advice on whether this is a good deal, and for proceeding with other dealers:
2010 TL + NAV (Front wheel drive) lease for 36 mos (will be turning in existing TL lease which is up in Feb 2011, great condition):
MSRP: 39,695.00
MF: .00134
Resid: 54%; or $21435.30
Gross Cap cost: 36,097.59 (includes $595 acq fee)
$800 down, $463 a month + tax= $495.41 (total payment).
Thanks everyone.
we never talked msrp- sale price- residual- or money factor since they want to offer me almost the same deal but 6k miles less over 3 years.
do you know what the residual and money factor is for the 2010 acura tl tech front wheel in pa? also what is a good sale price and msrp?
in 08 i negotialed the tl leasewith navi for 437/mo inlcuding tax with 1400 in inception fees. msrp was 36,940, sale price 33,900, 57% residual, and .00081 MF for 36 months and 12K miles.. the 1400 inclued the 1st month at 437 w/ tax, 124.50 itital title, 189.00 doc fee, 595 acquistion fee, and 53.55 tax on aquistion fee.
please let me know if this a good deal. i also go them to throw in mathcing splash gurads.
Thanks,
Noah
AskNoah@icloud.com
Would you mind giving me the current MF and Residuals for AWD TL w/Tech for 2010 and 2011 (Boston area)? Would be looking at both 12K and 15K lease options.
Thank you!
just my opinion, but not a good deal. i'm in a similar situation. i have an '08 base tl that will be coming off lease in feb. '11. i'll probably have 10k unused miles at lease end and the car is in excellent condition. the residual was set at $19k and i'm thinking all things considered - especially the state the wholesale car market is in right now (wholesale prices climbing) - the car will be worth more than $19k when it's time to turn it in. i don't know what your residual is or the car's condition, but you might be in a good position to shop the car around and make a few bucks to pocket or put towards another deal rather than turn it in for another lease; especially one that would require you to shell out $1500 in fees. i wouldn't do the deal as outlined. i think you might be in a position for them to sweeten the deal somehow.
good luck!