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2013 and earlier-Acura RL Lease Questions

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  • audiobuffaudiobuff Member Posts: 9
    Car Man,
    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Jeff. Honda Finance's current residual value for a 36 month lease of a base 2006 Acura RL with 15,000 miles per year is 47%.

    Car_man
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  • jgoodman0429jgoodman0429 Member Posts: 2
    I am looking to buy a RL
    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Jeff. The dealer invoice price for a 2006 Acura RL with the Technology package is $47,958. When the $4,000 dealer cash that is currently available on this car is taken into account we arrive at $43,958. The price that you were quoted, $44,913 is $955 over this. That's a pretty good price for this car, but it wouldn't hurt to stop by the following discussion to see how much other community members have paid for similar models lately: "Acura RL: Prices Paid & Buying Experience".

    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.

    Car_man
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  • tbenson81tbenson81 Member Posts: 25
    Can you tell me what the current MF and residual for the RL and RL with technology package is for this month? Assuming the highest credit tier. 15k over 3 years. I am looking to lease at the end of February. Will the MF's and residuals extend until then?

    Once again - you are the man!
  • gator00sigator00si Member Posts: 61
    Carman,

    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!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks tbenson81 :blush: . 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 base 2007 Acura RL with 15,000 miles per year are .00196 and 51%, respectively. The numbers for an otherwise identical lease of a 2007 RL with the Technology Pkg. are .00196 and 48%. Unfortunately, this lease program is only scheduled to run through February 5th, so if you want to lease your car at the end of February you will have to check back with me to see what the new Feb. numbers are like.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello gator00si. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Acura RL without the Tech. Pkg. with 15,000 miles per year are .00196 and 63%, respectively. The numbers for an otherwise identical 36 month lease of this car are .00196 and 51%. Its 39 month numbers are .00196 and 48%. Its 42 month numbers are .00196 and 48%. 42 months is the longest term that this car's special lease money factor is available for.

    Car_man
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  • gator00sigator00si Member Posts: 61
    Carman,

    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!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Good catch, gator00si. I made a typo on the 42 month residual value. Sorry about that. It is actually 47%. The 42 month term is the one that Acura is featuring in all of its RL ads and it will probably result in the lowest monthly payment.

    Car_man
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  • tbenson81tbenson81 Member Posts: 25
    You rock Carman!

    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
  • tbenson81tbenson81 Member Posts: 25
    Hey Carman - Feb 5th has rolled around. Can you help me check the MF's and Residual for the RL without Tech package? I am looking for 15k miles for either 36 or 39 months. Once again you da man!

    Tony
  • ajp00ajp00 Member Posts: 17
    Car Man,

    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
  • muckermmuckerm Member Posts: 1
    I am trying to lease an Acura RL2007 with Tech Package.
    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
  • michaelbrunimichaelbruni Member Posts: 1
    I am interested in a certified 2006 pre-owned Acura RL. The vehicle has 8500 mi, tech package, back-up camera, and several other small options (i.e. wheels locks). The dealer is asking $38,995, which I will negotiate. According to Edmunds.com, the value of the car is just over $49K.

    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!
  • carfan28carfan28 Member Posts: 43
    I guess I'm missing the forest for the trees so I have a basic question for you:

    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!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks Tony :shades: . Honda Finance's February buy rate lease money factor and residual value for a 36 month lease of a base 2007 Acura RL with 15,000 miles per year are .00196 and 51%, respectively. This special lease money factor is available for both 39 and 42 month leases. If I was in the market for a lease of an RL right now, I personally would probably go with 39 months to lower the monthly payment. 42 months would lower the payment a little more, but that's a little too long for my taste. This car's 39 month, 15,000 mile per year residual value is 48%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, ajp00. Honda Finance's current 24 month, 12,000 mile per year buy rate lease money factor and residual value for the 2007 Acura RL with the Technology Package are .00196 and 60%, respectively. The numbers for an otherwise identical 36 month lease are .00196 and 50%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings muckerm. You can look up the dealer invoice price of the car that you are interested in by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. Honda Finance's current 42 month, 10,000 mile per year buy rate lease money factor and residual value for the 2007 Acura RL with the Technology Package are .00196 and 47%, respectively for consumers who qualify for its "Super Preferred" credit tier. The following article describes how vehicles' money factors are used to calculate their monthly payments: Calculate Your Own Lease Payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi carfan28. Your vehicle's money factor and residual are important because they are used to calculate its monthly payment. Consumers need to know what their vehicle's buy rate money factor is to make sure that the dealer that they are working with is not marking it up to add additional hidden profit to their deal. This sort of thing happens more frequently on BMWs than it does on Acuras, but it makes sense to check to make sure that you're getting the best possible money factor on your deal.

    Car_man
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  • carfan28carfan28 Member Posts: 43
    How does this sound for a 2007 RL Tech package:

    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.
  • someguy1someguy1 Member Posts: 42
    1. My RL has 30,000 miles on it. I was reading about the 30K service which cost about $600. My RL is riding fine and is in perfect condition. Are there any possible penalties I may face in 14 months when I return the RL without doing the service?

    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?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi someguy1. I personally wouldn't worry about doing the full 30,000 mile maintenance if I was leasing your car. All lessees really have to do is change their car's oil every couple of thousand miles and they should be fine. In my opinion, performing that much maintenance on a leased vehicle is a waste of money.

    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.

    Car_man
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  • dav3ddav3d Member Posts: 1
    I hear that the .00196 money factor for the RL is no longer available from Honda and the money factor is now .00260. Terms on a 32 Month Lease, 12K Miles = 44% Residual.

    Correct?
  • green33green33 Member Posts: 8
    car man or others can you post the current residual, money factor for a 2007 rl lease for 24 and 36 months. also any recent prices paid
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    What you heard is correct, dav3d. For the month of March, Acura replaced its special money factor on the 2007 Acura RL with $3,500 dealer cash. If you want to lease this car through Honda Finance right now, you will have to use its standard lease money factors. Its current buy rate standard money factor for a 36 month lease is .00280 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, green33. Honda Finance's 24 month lease program for this car is terrible right now. You would be much better off going with a 36 month lease of it. Its current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura RL without the Tech Package with 15,000 miles per year are .00280 and 51%, respectively. Its 12,000 mile per year residual value would be 2% higher. When negotiating your lease on this car, make sure to take advantage of the $3,500 dealer cash that is currently available on it. It will help you to negotiate an attractive capitalized cost. Check out the following discussion for information on how much other community members have paid for this car lately: "Acura RL: Prices Paid & Buying Experience".

    Car_man
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  • twmarktwmark Member Posts: 41
    Acura seems to be offering a 569/month lease on the RL. If I plug in the current numbers ( 0.00280 and 53% residual on a 36000 mile-3 year lease) the calculated lease payment are much much higher.
  • mrmellmrmell Member Posts: 11
    Does anybody know lease rate for 36 mos, 10k mi per year, money factor & RESIDUAL on 2007 RL w tech (nav) pkge???
  • BushwackBushwack Member Posts: 258
    The residual is 51% and the MF is .00270. Confirm these numbers with your local dealer.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mrmell. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura RL with 10,000 miles per year are .00280 and 54%, respectively assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. When negotiating your lease on this car make sure to take the $3,500 dealer cash that is currently available on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • critcaremdcritcaremd Member Posts: 7
    What is the current residual and money factor for a 2007 RL w/o nav?
  • critcaremdcritcaremd Member Posts: 7
    What is current pricing for 07 and 08 RL w/o nav
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi critcaremd. This car's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so 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. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Acura RL with 15,000 miles per year are .00275 and 48%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. As you can see, Acura is not currently providing lease support on the '07 RL. That's the bad news. The good news is that this lack of lease support means that you can use the $3,500 dealer cash that is currently available on it to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey critcaremd. You can look up these cars' MSRPs and dealer invoice prices in the following section of this site: Edmunds.com - New Vehicle Pricing.

    Car_man
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  • jaybee85jaybee85 Member Posts: 25
    I've been looking to lease a certified used RL, but Acura salesmen in Northern NJ tell me that no leasing is available for used cars.
    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?
  • newacurabuynewacurabuy Member Posts: 4
    I'm looking to lease 2008 RL with Tech Package for 36 months and at either 12k or 15k/yr. Could you please tell me the residual and money factor? I'm in the state of Missouri. Thanks. Is Acura offering any dealer cash or subsidy at the current time? I could not find any incentives.
  • leasesucksleasesucks Member Posts: 1
    From acura.com: "Subject to limited availability. Through 10/31/2007, to approved lessees by American Honda Finance Corp. Closed end lease for 2008 RL vehicles (Model KB1658KW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $46,995.00 (includes destination) less the capitalized cost reduction resulting in actual net capitalized cost $41,438.25. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $20,484.00. Option to purchase at lease end $25,847.25. 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."

    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!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jaybee85. I personally am not all that familiar with Acura's used vehicle lease program, but the problem that I have with leasing used vehicles in general is that given the lack of support on them they often turn out to be as expensive as, or even more expensive than equivalent leases of brand new vehicles. You definitely should compare the cost of leasing a used RL to the cost of leasing a new one before making a decision to lease. You may be surprised how small the difference in payment is.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, newacurabuy. Through October 31st, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura RL with the Tech Package and 15,000 miles per year are .00202 and 50%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The 12,000 mile per year residual value for this car would be 2% higher. Acura is not currently providing any cash incentives on this model.

    Car_man
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  • jaybee85jaybee85 Member Posts: 25
    Thanks, car_man. It seems leasing a used Acura isn't so promising. Two NJ dealers said they wouldn't do it, even though AHFC said they would provide lease financing on good used cars.

    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?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, jaybee85. Honda is providing lease support on both the 2008 RL and TL in November. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Acura RL with 12,000 miles per year are .00129 and 52%, respectively. The numbers for an otherwise identical lease of a 2008 TL are .00168 and 58%.

    Car_man
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  • marckschwartzmarckschwartz Member Posts: 5
    I just test drove an RL in a suburb of chicago. With the technology package, including all taxes and rated at 12,000 miles a year I was quoted $791 a month. The sticker is $50,500. Cash purchase was $44,000. Where should I go in my negotiations since it clearly is a buyers market.
  • marckschwartzmarckschwartz Member Posts: 5
    I have owned many Lexus automobiles and never owned an Acura. I don't want to spend $70,000 for a 460 and my wife doesn't like the next model down. I am considering a gs 350 or a RL. Your thoughts would be appreciated!!
  • jensadjensad Member Posts: 388
    I too own an 04 Lexus RX 330. Since my wife has purchased a Honda Pilot I will next year sell my Lexus. Now, I also have driven an RL and a GS 350. I loved the acceleration of the GS, however, I cannot stand the small ness of the interior.

    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
  • smith83smith83 Member Posts: 60
    Here's the deal I have been offered:

    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?
  • vistavista Member Posts: 9
    Hi, Car Man and others!

    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!!
  • smithsongasmithsonga Member Posts: 123
    If Acura isnt selling these cars...and they are offering $4k dealer cash, has anyone worked a deal for a low mileage (10k to 12k) lease in the low 500s? It appears to be possible with an invoice price - $4k cash, at the lease rates Car_Man notes above.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome back, vista. Edmunds.com has an article on the purchasing of vehicles at lease-end. Here's a link to it for your convenience: Buying Your Leased Car.

    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.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi smithsonga. You will probably be interested in the fact that Acura recently significantly enhanced its lease program for the 2008 RL. The $2,000 dealer cash that is available on this car is not compatible with its special lease program, but its money factor was enhanced to .00042. This caused its advertised payment to drop to $499 per month for 36 months with $1,905 down.

    Car_man
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