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2013 and earlier-Acura RL Lease Questions
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I just got quoted a residual of 48% on a 2006 Acura RL. Does that seem low to you? What is the 36 month rate for
15K miles on a standard Rl? My zip code is 94087.
Thanks for your help,
Jeff
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i was quoted 44913 for RL w/ PAX (tech pkg)
36 month lease, 12k miles
what should my residual be (47 or 48 percent ?)
money factor for superpreferred .00283 . Is that correct or can i do better ?
I want the camera added - it appears to cost 400. what should i pay for it installed ?
I want to avoid acquisition cost and security deposit. is that possible ?
is there anything else I am missing ?
Is there an advantage to buying on mon or tues before end of october ?
Jeff
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Acura RL with the Technology package and 12,000 miles per year are .00280 and 45%, respectively for consumers who pay a security deposit at lease signing and qualify for its "Super Preferred" credit tier. If you won't want to pay a security deposit, Honda Finance will waive it in exchange for an increase of .00010 in the money factor that is used to calculate your car's lease payment.
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Once again - you are the man!
Please provide this month's money factors and residuals for 2007 Acura RL (base model) for all lease terms Acura offers based on 15k mi/yr. Much appreciated!
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Are you sure about the Residuals for the 39mo and 42mo? They are the same. Don't they usually decrease the longer the term? Please confirm as I'm trying to negotiate a 42mo lease. Much appreciated!
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Thanks for the numbers. I have settled on the Standard RL without the Tech package and want to do the 15k / 3 year lease. I am looking to lease at the end of February and was wondering if you could post the new numbers on the 5th when they are released. Thanks again - you are the man!
PS - Please let me know if you think the 39 or 42 month lease would be a better deal. I always trust your insight.
Tony
Tony
Can you tell me the MF and the residual for 2007 RL with Technology package for 24 month and 36 month lease with 12K miles a year? Thanks
I will take 10K a year for 42 months. What is the Dealers
cost? What is the residual value? What is the cost of money on the lease and how is it calculated in the lease? I have the highest credit rating and have leased an RL for the past ten years. I await your reply
What can I expect the M.F. and residual of the RL to be if I decided to lease the vehicle? The M.F. is assuming the highest credit tier.
I also love the Infiniti M-series. Which manufacturer do you feel has a better lease program currently? The Infiniti M would probably be a new vehicle, unless I could find a deal like the above Acura.
Thanks!
Why is the buy rate lease money factor and the residual value so important if my plan is to turn the car in after the lease is over? Why is it important if I decide to buy the car after the lease is over?
I'm considering leasing an Acura RL or Infiniti M35X in the next 2 months. I know that a "no money down" lease is the way to go. Both car manufacturers require a first month's lease up front and a $595 bank fee. There's some paperwork fees that need to be paid up front as well.
I understand that putting money down up front to lower the monthly lease rate is a poor decision. One would be giving the manufacturer money where it would be better to have your own money to invest, and secondly if the car is totalled the up front money is lost.
So I guess I'm missing something. I negotiate the best "buy" price and lease the car based on that and get the best montly lease rate. If I turn the car back in after the lease period I owe nothing if the yearly miles are under or exactly what I payed for and there's no damage on the car. Acura allows for $1500 worth without charge.
Thanks in advance!
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42 month lease
15K miles/year
44% residual
.00196 money factor
$759/month payment
Based on outright purchase price: $45436- +$499 over invoice
$549.50 up front on purchase- 3 years MV, Docs fees, tire tax
No money down lease means $695 bank fee and first month lease cost due at inception here in NJ.
Can lease a 2007 Infiniti M35X with Advanced Technology package and technology package for at least $75/month less in an apples to apples comparison. Wouldn't lease the RL. but may buy it.
2. Is there any advantage to inquiring about sending in the remaining payments on a lease early? I have about 14 months left and I can send the rest of the money or pay each month. I like paying things off early and could send the balance and drive it the rest of the months, which is better?
There's no advantage to paying the rest of your remaining lease payments early. The interest charge is already baked into your car's payment and Acura will not reduce your payment at this point. In the future, you may want to consider paying for your entire lease in advance. Banks usually provide consumers who with a reduction in the money factor that is used to calculate the interest cost of their lease.
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Correct?
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Today AHFC told me they will lease used cars, subject to mileage and age limits - certified cars should be ok.
Car_man, or anybody, do you have any experience leasing a used RL, or other Acura? If so, would payments be lower, like the price would be, compared to new cars?
My math says residual percentage of 55% and money factor of 0.002 (4.8% APR). Interestingly, there is a difference of $5562 from the $46,995 MSRP and net capitalized cost of $41438.25. Since the drive off is $3,999, Acura Finance is giving us some discount. I don't know exactly how much, because I don't know what my drive off payment is going to. At any rate, I hope this helps.
I got an offer of $579/month plus tax for 36 months($630/mo out the door) with $26,000 residual on a 2008 Acura RL w/ technology package from a local dealer. I believe that I could do better. I'm looking for $559/month plus tax. Wish me luck!
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Now, is there any lease programs up or coming on new RL's, or TL's? What residual and money factor would you expect on
a new RL or TL, based on 36 months and 12,000 miles per year?
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I would hate to be in an accident in the GS. And I too do not want to spend 60-70 K for the big Lexus. I really think in about Feb with the rain ect, I'll buy an RL. I really think Lexus is making a mistake by going to smaller cars.
Good luck to all and stay safe.
jensad
2008 RL Tech Package, based on $4000 discount off of MSRP, $775.18 per month @ 18,000 miles per year/36 months, $1261.34 due at lease signing.
This looks considerably higher that what I am seeing on this board. What am I missing?
You kindly helped me 2 1/2 years ago when I leased a 2005 RL. It has been my first car lease. I am starting to think about my options for the end of the lease and have some questions, especially since Acura sent me a postcard asking me about my plans wrt continuing the lease, buying the car, or turning it in. First, is there an online resource that I should be reviewing which provides general info on end-of-lease options? Second, the residual of $28.3k (3 years @ 15k/yr.) seems to be in line with retail for this model (low 30's now), so buying would be a wash, right? Third, what happens if I continue the lease? Is it month-to-month, or do I have to sign up for a specific period of time, or is it all negotiable? Also, would it typically be for the same monthly payment I am doing now, or is it negotiable or set some other way? One consideration is that I have interrupted my career to write a book, and so I doubt my credit report (with no annual income!) will be warm and fuzzy - it might be difficult to qualify for any financing - shall I assume they perform another credit check? A second consideration is that there is several hundred dollars of body work needed beyond what I can imagine they will allow upon returning the vehicle. Should I take care of it now, wait until the return inspection and then do something, or otherwise take it into consideration when deciding upon my purchase, lease extension, or return of the vehicle.
Thanks for your patience in answering all these questions, and for your past help!!
In order to determine whether you should purchase your RL at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your car or truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.
As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".
If you have enjoyed driving your RL, have not been in an accidents in it, and its purchase option price is in line with its current market value, you may want to consider buying your car.
I am not sure what Honda Finance's policy is on the extension of leases. Some banks will let lessees go month to month, others will provide an extension for s set period of time, i.e three months, six months, etc... You need to place a call to them to see what they will let you do. Regardless of what their policy is about the duration of your lease, the monthly payment for your extension will likely be the same that it is now. As long as you have been making your car payments on time, Honda Finance probably will not check your credit again for an extension. If you do not have the cash to lay out to purchase your car and your credit has been damaged to the point that you may not be able to lease a new one, or you at least won't qualify for banks' top credit tiers, then an extension might be the right way to go.
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