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2013 and earlier-Acura TL Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, bieg. If you were to lease a 2006 Acura TL with 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 56%, respectively. The numbers for an otherwise identical 39 month lease should be .00260 and 52%. The numbers for an otherwise identical 42 month lease should be .00235 and 52%.

    Car_man
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  • biegbieg Member Posts: 3
    Thanks Car Man, Thats just what the dealer told me.
    Selling price of $33,500 with a rear deck spoiler and he's picking up the last payment ($400) on my 02 TLS.
    42 months at $475 per plus Tax, Title, and $595 Bank Fee.
    Sems like a fair deal to me, even car dealers need to make some money. I tried to get rid of the bank fee but was told thats not negotiable.
    Thanks again... Hope this helps some others...
  • billyperks1billyperks1 Member Posts: 151
    Picking up your last payment means adding it to your new car payment.
  • zombiemanzombieman Member Posts: 14
    Car_man,

    Thanks a lot for all the numbers! So Honda Financial lowered the 48 month money factor from .00245 to .00235 from February to March? Thats' great! Of course I had a dealer trying to squeeze me into the end of February by saying that Honda would raise the money factor in March!

    BTW, is it possible to structure a 48 month lease at 12,500 miles per year instead of just 12,000 (to take advantage of the full 4 year/50,000 mile factory warranty)? I know anything "could" be done, but do you think Honda would be "willing" to do such a lease?

    Thanks!!!
  • biegbieg Member Posts: 3
    What do you mean by that?
    I'm picking up the new car end of march, and the dealer is making my April 1 payment on the old car...???
  • twmarktwmark Member Posts: 41
    If you lease a car, how does anyone know whether or not you did any of the routine maintenance? What would happen if you changed the oil every 15000 miles instead of 3000 miles. I would never do this but what if you wanted to save money didn't really care about the car. It probably wouldn't mess up the car and you potentially could save a few bucks....that is unless the car breaks down (but wouldn't that be included in the 4 year 48000 miles). Sorry if this sounds silly but I was just wondering.
  • maximafanmaximafan Member Posts: 592
    Carman, I've noticed while looking in the
    newspaper at various lease deals that they
    will put in small print at the bottom a
    minimum number for a "beacon score" to qualify
    for a certain lease. I've seen that this varies among the different manufacturers, i.e.,
    Nissan, Lexus, Acura. Is a beacon score the
    same thing as a FICO score? Would you happen
    to know what the required "Beacon/FICO" score
    for Acura's Super Preferred Credit Tier might
    be?
  • kidhondakidhonda Member Posts: 1
    Maximafan: The question they always ask me when I tell them to assume a super-preferred score is "Is your credit over 710?"...so I'm guessing it's 710.

    Anybody: Is it possible that the 36 month/12k leases on an 06 TL with Navi shot-up considerably since last month, or did I just get a manager who didn't feel like selling the car yesterday? Plus, they said that USBank was offering the best deal at the moment (not American Honda.) They wanted $585 after taxes for the same deal which they had offered $525 after taxes on last month. What's going on here?

    Thanks!
  • hockeyguy5hockeyguy5 Member Posts: 2
    Okay, here is the current deal that I'm looking at:

    06 Acura TL w/o Nav
    Selling price - $32,473
    Money factor - 0.00270 & 59%
    Lease end value - $20,024

    36 month lease w/ 12K miles/yr

    So for $1500 OTD = $507 plux tax

    For the 42 month lease it goes down to
    $489 plus tax

    This seems about $20-30/month too high.

    Agree?
  • nvnicknvnick Member Posts: 50
    No changes in the 36 month/15k lease since January (.00260 MF & 57% residual), so would assume no change in the 12k as well. I've been offered invoice price (Chicago area) on TL non-navi, so before tax pmt of $455, + 6% tax. No money down, just $595 acquisition, 1st month pmt and possibly refundable deposit (currently negotiating waiving this, as wife purchased '05 MDX) with American Honda. Good luck.
  • goldentlgoldentl Member Posts: 4
    Was the $595 for the lease acquisition? Do you know if you will be charged a regional advertising fee? Was there a documentation fee?

    I'm also in the Chicago area and am planning to lease one next week. Thanks for the informaton!
  • radtech1radtech1 Member Posts: 3
    HEY CAR_MAN!
    DO YOU HAVE ANY IDEA WHAT MY MONEY FACTOR WOULD BE ON A 36MO LEASE 15,000 MI/YR, WITH A FICO SCORE OF 670. MY EX-WIFE JUST KILLED MY CREDIT. ANY BALLPARK NUMBER WOULD BE GREAT. I AM GETTING WELL BELOW INVOICE FROM DEALERS IN SOCAL, BUT I DONT WANT TO GET SCREWED ON THE LEASE END OF THE DEAL. THANKS!
  • parkjhmdparkjhmd Member Posts: 1
    Is everything truly negotiable with a lease? The current Acura lease incentive is 36 months, 10K/year, $429 per month based on $2500 down, $450 security deposit plus TTL - are things like the upfront down payment (essentially cap cost reduction) negotiable and anyone with success in negotiating these costs down?
  • goldentlgoldentl Member Posts: 4
    I agree. Using those numbers and assuming that your $1500 is covering all the fees. It should be more like $487/month before taxes.

    Good luck.
  • auc2infinityauc2infinity Member Posts: 1
    all, my lease on the TL 3.2 type -s is coming up and I am thinking of keeping the car i.e. will purchase it. is there any insight as to if I can get any perks from acura like free maintenance or something similar if I purchase the car. I know that some car manufactures if you purchase the car rather then returning it. They will give you a complimentary full maintenance on the car.
  • levitynyc1levitynyc1 Member Posts: 3
    3000 Down 42 months 12K WITH NAV. 457 a month

    All taxes and fees included.

    No Disp Fee, 1500 damage waiver. No security dep.

    Good Deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, bieg.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, zombieman. Honda Finance just changed its standard money factors again on March 7th. Its buy rate standard factor for 48 month leases is now .00240 in case you are still interested. Unfortunately, I don't believe that Honda Finance will lease vehicles with 12,000 miles per year. In order to take full advantage of your car's warranty, you probably would have to lease with 15,000 miles per.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey maximafan. Kidhonda is right. I believe that Honda Finance requires consumers to have a FICO score of over 710 to qualify for its best aka "Super Preferred" credit tier.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi radtech1. As I have mentioned earlier, Honda Finance's current buy rate standard lease money factor is .00260 for consumers who qualify for its "Super Preferred" credit tier. Since one needs a credit score of 710 or higher to qualify for this factor, you do no. I'm not sure what Honda Finance's buy rate would be for this car for someone with your credit score, but if I had to make an educated guess, I'd say anywhere from .00270 to .00290 or so.

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  • nvnicknvnick Member Posts: 50
    Do you have to be a current Honda/Acura lesee in order to have the deposit waived? My wife purchased an 05 MDX back in June thru AHFC, and we've owned 95 Accord, 94 Integra GS-R, 91 Civic Si & 89 Civic. Dealer won't waive the security deposit on a TL unless MF is bumped from .0026 to .0027. How loyal of a customer do you have to be???
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi parkjhmd. The only aspect of a lease that is negotiable is your vehicle's selling price. All of the other items that you mentioned are derived from this number. The lower your car's selling price is, the lower its lease payment will be. Consumers are always free to lease any vehicle they want without making any sort of capitalized cost reduction. Of course, eliminating the cap cost reduction from this advertised lease will make its monthly payment increase. The fact that you probably will be able to negotiate a selling price that is a little lower than the one this deal is based upon will help make up for that to a certain degree.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello nvnick. Honda Finance will waive its security deposit requirement at no cost for returning lessees. If you are not a current Honda Finance customer, it will still waive your vehicle's security deposit in exchange for an increase of .00010 in your car's money factor. It sounds like you have done a ton of business with Honda, unfortunately the fact that you are not currently leasing a vehicle through Honda Finance is probably you don't qualify for the waiver.

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  • goldentlgoldentl Member Posts: 4
    Are the Honda Finance money factors negotiable? I read in another forum that they match other banks interest rates, but what about money factors? My credit union offers .00204 on a 36 month lease, unfortunately the residual they offer is only 56%.

    Thanks!
  • oregunguyoregunguy Member Posts: 9
    Will a high credit score allow the security deposit to be waived?
  • soroka24soroka24 Member Posts: 9
    Just received this offer from a dealer outside of Dallas, TX

    2006 TL no NAV
    36 month / 12,000 miles
    469.69 per month (includes tax)
    1000 down (1st payment, license & registration)
    59% residual
    .00270 money factor

    Said he was at 31,200, 200 over invoice.

    This quote is based on excellent credit.

    Three questions:
    1. Is this a good deal?
    2. What does Honda finance consider excellent credit?
    3. Dealer said this deal is off after March 31 (new month). Is this true?

    Your quick feedback is much appreciated!
  • radtech1radtech1 Member Posts: 3
    Thanks for the feedback CarMan!
  • newgnewg Member Posts: 6
    Folks,

    I have a 2003 TL which is coming off lease and I want to buy it. Called Honda Finance and they said they cannot negotiate - the residual value is the final price (they get some kinda auxillary insurance to make up for difference between auction price and residual value and hence are not interested in negotiating).

    Does anyone has experience in getting the car price reduced from residual value? Will the dealership be interested in offering any discounts?

    Please advise.
  • billyperks1billyperks1 Member Posts: 151
    I can tell from past experience that there is no room for bargaining.I tried to negotiate my leased Mazda Millennia back in 2003 and Mazda would not budge on their residual price.I told them to come pick up the car as soon as possible.
  • mvc_jonesmvc_jones Member Posts: 88
    I tried the same with my off-lease VW Passat, leased through VW Credit. No budging, offered residual and an $500 bonus Visa cash card, no more.

    I have heard you have more wiggle room if the finance company is not the captive manfacturer financing. I would think the captive finance company (VW Credit, AHFC, etc...) has a vested interest in maintaining residual values as dropping residuals at buyout will affect their ability to maintain residuals at new leases (essetially cutting their own throat by making leases more costly), hence their take it or leave it approach.

    When I looked into the purchase price off lease for my 99 Saab 9-3, Chase did the financing and they dropped the price a few thousand, not sure if it was due to non-captive financing or if this was prior to residual insurance. Chase did not have as much of a vested interest in maintaining resale and new lease residual values (although they do have some interest as opposed to subventing leases).

    If your lease is financed through AHFC, I think you may be out of luck. Good luck in trying, though.
  • oregunguyoregunguy Member Posts: 9
    I have found this very helpful

    http://www.leaseguide.com/calc.htm
  • moose123moose123 Member Posts: 15
    Hi.

    Anyone know the money factors/residuals for April for 2006 TL manual without navigation?
    Thanks.

    Also, one possibly dumb question: If I lease, and do a trade in, and want to put the smallest amount down, will dealers give me a check for the trade in? Or will they insist it goes towards the new lease. Thanks!
  • someguy1someguy1 Member Posts: 42
    Car_Man

    What are the residuals and mf's on TL's right now for 3 years/15K?

    Thanks,
    KA
  • dogsambamdogsambam Member Posts: 69
    Hi-

    I am looking at a 2006 TL in Illinois. 24 or 27 month lease with 12000 miles, no money down. How much should a nav car with a sticker $35221, sell price $33100, vs a non nav car with a sticker $$33940, sell price $$31300. Thank you for any help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi goldentl. The answer to your question is yes...and no. Individual dealers do not have the authority to lower banks published lease money factors. This means that the lowest money factor a dealer can lease you a 2006 TL with right now is .00260 (for a 36 month term) assuming that you pay a security deposit and qualify for its "Super Preferred" credit tier. Dealers can however increase banks published money factors to add additional hidden back-end profit to deals. This is why it is extremely important to find out what the money buy rate money factor is for the vehicle that you want to lease and to insist that the dealer you are working with use it to calculate your monthly payment.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi oregunguy. I am not absolutely positive, but I do not believe that Honda Finance will waive its security deposit for consumers just because they have a high credit score. Normally, Honda Finance will only waive its security deposit requirement in exchange for an increase of .00010 in vehicles' money factors. If you have a credit score of over 710, you will qualify for Honda Finance's best money factors though.

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  • snoozsnooz Member Posts: 3
    Anyone know the residuals and MF for the TL (with nav, 36 months, 15k/yr) for April?
  • thinkmikethinkmike Member Posts: 2
    I just got quoted for a '06 TL/Auto/Nav.

    36mo/15K miles
    $800 drive off (includes 1st payment)
    $550/month (including taxes) $510-ish before taxes.

    residual is 56% and money factor of 270.

    My credit is in the high 700's, is this a good deal? can I do better?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, radtech1.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi moose123. Acura is not providing any lease support on the Acura TL right now, despite the fact that many dealers are swamped with them. As a result, if you were to lease one through Honda Finance right now, you would have to use its standard lease program. Its buy rate standard lease money factors vary depending upon how long you lease for. The same goes for its residual values. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. If you were to lease an '06 Acura TL without navigation through Honda Finance right now for 36 / 15k, its buy rate lease money factor and residual value should be .00260 and 57%, respectively. At least the fact that the supply of this car is very high right now should help you to negotiate a selling price that's fairly close to dealer invoice if you are in an area where there is a decent level of competition.

    Your second question isn't dumb at all. You are definitely better off having the dealer that you get your new TL from cut you a check for your trade instead of using the proceeds from it as a down payment on your lease. Most dealers have no problem with cutting a check for trades.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey someguy1. Please see my previous post for the information that you are looking for. Thanks and let me know if you have any other questions.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, dogsambam. Before I work up this lease payment for you, I need to tell you that you would be better off leasing for a longer term than 24 to 27 months. Honda Finance's current buy rate lease money factor for 24-27 month leases of the TL right now is a whopping .00380. If you lease for just six more months, Honda Finance's 33 month money factor is currently only .00260, which isn't amazing by any means, but it's a heck of a lot better than the .00380 rate. I'll work up both 27 and 33 month lease payments on this car for you so that you can see the difference in payments. According to my calculations, if you were to lease a 2006 Acura TL with navigation with an MSRP of $35,221 and a selling price of $33,100 through Honda Finance right now for 27 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $615. The payment for an otherwise identical 33 month lease should be around $524. While we're at it, the payment for an otherwise identical 36 month lease should be around $492.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings snooz. Honda Finance's current 36 month, 15,000 mile per year buy rate lease money factor and residual value for a 36 month, 15,000 mile per year lease of an '06 TL without navigation are .00260 and 57%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello thinkmike. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers 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 this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this lease if you let me know what these numbers are.

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  • thinkmikethinkmike Member Posts: 2
    MSRP is $35940
    selling price including destination is $32800

    I just got quoted for a '06 TL/Auto/Nav.

    36mo/15K miles
    $800 drive off (includes 1st payment)
    $550/month (including taxes) $510-ish before taxes.

    residual is 56% and money factor of 270.

    My credit is in the high 700's, is this a good deal? can I do better?
  • lanman66lanman66 Member Posts: 2
    Hey Carman, do you know of any lease deals coming in May? (Any rumors?)

    Also, does anybody know of another leasing companies that offer good lease deals on Acura TLs?

    I would hate to lease a TL in April and have Acura offer some great lease deal next month. :mad:

    Thanks
  • billyperks1billyperks1 Member Posts: 151
    That sounds like an Acura RL monthly payments.
  • lanman66lanman66 Member Posts: 2
    Hey Carman, I found this online and verified it with a sales guy. Is this just a standard lease that is available anytime or is it a special lease? (See details below) Could you possibly tell me the money factor and residual? Also, is this advertised deal based off paying MSRP and I should be able to negotiate a better sales price and lower the actual payments.

    Carman, I really appreciate all of the information that you have provided in the past.

    Thank you again.

    429 Monthly Payment
    36 Month Term
    $2500 Down Payment
    $450 Security Deposit
    1000Annual Mileage
    Restrictions Lease is based on 2006 Acura TL with 5-Speed Automatic Transmission and Navigation System (Model# UA6626KW).
    Comments $3974 due at signing. Incentives may vary; see your local dealer for details. Tax, tags and insurance are extra.
  • rlawrlaw Member Posts: 1
    Hi,
    My 2004 TL lease is coming due this summer. My Buyout price is 19k. It seems as though looking at the market this car has held its value very well as most 2004's I see are in the mid 20's. My mileage, I estimate will be over by roughly 3000 miles so a penalty will be in order.

    My question is doesn't this scenario scream out buy the car outright and sell it in the open market. Am I missing something? I've never had this option available to me before as the cars have usually depreciated below the residual. My guess is that the market price may come down as these early leases start coming in. Any advice?
  • supcleansupclean Member Posts: 2
    Picked up my TL(w/o navigation) today.
    27 mos
    $4849 down( tax, bank fee, cost reduction)
    $450 disposition fee
    $282 per mounth.
    2 weeks negotiations.
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