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2013 and earlier-Acura RL Lease Questions

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  • bobbylowebobbylowe Member Posts: 1
    First time poster. I love this site!! I'm in the process of selling my X-5 privately and looking to lease the '08 RL w/ tech package. I've never leased before, but have gotten up to speed quickly by spending time on this site. I sent out queries to dealers here in Houston. The best lease term I have received so far for 36-months, 0 down, 10k miles/year is $600 (money factor was .00042). But the dealership said they would get new lease terms tomorrow (1/2).

    My question is other than haggling the dealerships down on monthly lease payments, do I need to be concerned with anything else (ie: residual)? I'm assuming not, since the lease price is simply the output of total sales cost, money factor and residual. But I want to make sure I'm not mising anything.
  • penn2penn2 Member Posts: 128
    Hello Car Man and/or kyfdx

    IWith what appears to be increasingly attractive 08 RL lease options, I am interested in seeing what I can expect for Tech package trim with $0 down, 12K mi, 36 mos. Am located in southeast PA
    I will negotiate to what I suspect(and hope) will get me at or close to invoice but from there, 3 questions:
    1) what is current money factor and how do I use/leverage to determine monthly payment?
    2) is MF negotiable? In past negotiations, when I've told dealer what I know to be their mfg & model MF, it is met with resistance or even denial as "their" MF is higher.
    3) Is it better to wait until Feb or Mar to lease 08 RL?(will have to pull trigger either way by end of Mar)

    Thank you for any help you can provide
  • penn2penn2 Member Posts: 128
    Hello!

    Still seeking current lease information(residual @ 52%? MF/buy rate?) on 08 RL Tech Package for

    36 mos
    12K mi/yr
    Preferred credit rating

    Also - will recent Fed action (rate cut) positively impact leases and if so, can you estimate when?

    Thank you
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome bobbylowe! I'm glad that you enjoy Edmunds so much. Since you have never leased before, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    The money factor that you were quoted looks good. It is right in line with Honda Finance's buy rate for a 36 month lease of an '08 RL. As far as negotiating this lease goes, the best way to get a good deal is to make sure that the dealer calculates your payment using the buy rate lease money factor (which you have already done) and to negotiate as low a selling price as possible on the car that you want. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If I was in the market for a new RL right now, I personally would shoot for a selling price of around $500 over dealer invoice. On an '08 RL with Tech, that would be right around $46,000.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello penn2. Things are very slow in the auto industry right now, even more so with Acura. I don't think that you will have much trouble finding a dealer who is willing to sell, or in this case lease, you an RL for close to dealer invoice. Honda Finance's current buy rate lease money factor for a 36 month lease of an '08 RL is .00042 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Money factors are negotiable in that you need to make sure that the dealer you are working with does not mark-up the buy rate to add additional, hidden profit to your deal, but dealers cannot reduce banks' published buy rates.

    It is difficult to say what the lease program for the RL will be like in March, but given the fact that Acura has made significant enhancements to its lease on this car over the past several months I personally do not anticipate then enhancing it any further.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey penn2. In response to your question about whether the Fed's recent dramatic rate cuts will have an impact upon manufacturers' lease programs, my answer is that I have not seen much of an impact yet. I have seen a few manufacturers' captive finance companies reduce their standard interest rates and lease money factors in the past couple of weeks, but their special financing rates and special lease programs really have not changed. It is difficult to say when, or even if automakers will make an equivalent reduction in their special programs.

    Car_man
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  • penn2penn2 Member Posts: 128
    Thank you Car_man for both of your responses --- very, very useful and will certainly will come in handy in the coming weeks as I explore the RL option vs one of their competitors

    Thanks again
  • 23109vc23109vc Member Posts: 218
    so what is the best deals you are all getting on RL leases right now?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, penn2. I'm glad that I was able to help you out. Make sure to stop back and let us know how your quest for a new vehicle turns out.

    Car_man
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  • mrussomrusso Member Posts: 9
    Car man, I am in Houston and want to lease a 2008 RL with tech package. What rates should I expect/try to negotiate? I leased a 2005 RL w/tech for $600/mo 36 mo lease with $0 down & 12k mi/yr. Can I do same or better for 2008 RL?
  • joegolfer1joegolfer1 Member Posts: 17
    Car Man, many thanks for previous assistance on my last 3 cars. I am thinking of leasing an RL with Tech. I like to go for 36 months, 18k per year. Was wondering if you could provide MF and residuals. Thanks in advance.
  • amontyamonty Member Posts: 2
    Hi- my first post here - best of 3 deals I have so far on RL/Tech pkg/36 mos/15k is:
    Selling price 43,521 (would be 2k less if not lease)
    MF .00046; Residual 25,307 (50%)
    Cash due at signing $2055 including 1st mo pmt and other plus cap reduction
    Monthly lease incl. 8.25% tax: $599
    Thanks for feedback.
  • blov8rblov8r Member Posts: 567
    While this question was posed to Car Man, I'll weigh in with what I've just seen on the net. The RL's sales are sluggish, actually significantly down in the last year, so they're showing $499/month for 36 months w/ < $2000 up front. Those numbers are what they're offering presumably off MSRP ... and it would appear that those numbers would be negotiable. Bart :shades:
  • amontyamonty Member Posts: 2
    update of previous post and question to carman
    After discussion at dealership the deal was corrected to
    Selling price 43,521 ;MF .00046; RESIDUAL 24,295 (48%)
    Cash due at signing $2055 including 1st mo pmt and other fees plus cap reduction of 978.
    Monthly lease incl. 8.25% tax: $600
    But when I looked at the printed "Lease Review", the "GRS CAP COST" went to 44,123. The salesman, who seemed very honest and transparent, said the extra "$595 HONDA FEE FOR LEASE CALLED ACQUISITION FEE" was added into the selling price.
    Is this standard fare in leasing or a means of squeezing a few more bucks out of customer? or just judge this deal as 600 per mo with 1000 down?
    thanks for any input
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow, I've helped you out on your last three leases, joegolfer1. You're making me feel old :) . 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 2008 Acura RL with Tech and 15,000 miles per year are .00164 and 46%, respectively. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it it to wait until the scheduled end of your lease and have to pay an excess mileage penalty. When negotiating your lease on this car, make sure to take advantage of the $4,000 dealer cash that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi amonty. Acura's May lease program for the 2008 TL is different than its April program was. Its money factor for this car is now higher, at .00164, but Acura is providing $4,000 dealer cash along with it that will help you negotiate a low capitalized cost for your lease. If I was in the market right now, I personally would shoot for around $500 over dealer invoice and then have the dealer subtract this cash incentive from that, putting me at around $3,500 under invoice.

    Car_man
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  • rjdoc74rjdoc74 Member Posts: 16
    Dear Car_man,

    Great forum. I am new to Acura RL lease, and was actually in the market for a 5 series until 5/6 (you must know what happend that day). Now I am looking at other options to get most bang for the buck. Few questions:

    1. Which lease calculator do you prefer for Acuras? Is there specific one?
    2. What's the aquisition fee on Acuras nowdays?
    3. What is a customary dealer fee? With BMW it's around $480 + doc fees.
    4. Edmunds website states you CAN combine advertized lease special with $4k dealer cash. How would that work? The special is $2500 down including $1405 cap reduction and $499+tax per month.

    Thanks for your help!
  • vavavavolvovavavavolvo Member Posts: 110
    What happened regarding the 5 series on 5/6?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Oh, I'm very aware of what BMW did to its lease program on the 5-Series for May. I have spoken with a number of unhappy BMW dealers.

    I actually use my own lease calculator that I created in Excel to work up payments. You can create one yourself using the formula that is outlined in the following article: Calculate Your Own Lease Payment. The lease calculator that is available here at Edmunds.com is a good one as well: Edmunds Lease Calculator.

    I believe that Acura charges a $595 acquisition fee on every vehicle that it leases.

    I'm not sure what you mean about "a customary dealer fee." Are you asking how much profit dealers typically make on the RL or are you asking what sort of doc fee Acura dealers usually charge?

    The $4,000 dealer cash that Acura is providing on the 2008 RL is available on leases of it through Honda Finance. You should negotiate the lowest possible selling price that you can on the RL that you want, as close to dealer invoice as possible, and then have the dealer subtract the four grand from that.

    Car_man
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  • mrussomrusso Member Posts: 9
    CarMan, I currently lease a 2005 RL - lease is up in Sept 08. I'd like to lease another RL [I love the car]. Isn't there a lease special going on? What is the best deal I can look for in Houston, TX?
    Thanks!
  • gregfrommngregfrommn Member Posts: 1
    mrusso, Would you mind telling me what the residual is on your '05 RL? I'm looking to buy an '05 RL and trying to figure out a reasonable price to offer considering the discounts available on the '08 version. Most dealers in my area are asking just under $30K for an '05 but have '08 models with 1K miles for $40K. So it seems the 05 should be less than what they are asking. Thank you.
  • mrussomrusso Member Posts: 9
    gregfrommn, I looked on my paperwork:
    $42598 Agreed price
    $43886 Gross capitalized price
    $29305 residual value
    I only have ~25k miles on the car now. I live 1.7 miles from work.

    12k mi/yr with lease price of $588/mo with $0 down.- which is over 09/01/08 and I am looking for another good lease deal. Good luck!
  • mrussomrusso Member Posts: 9
    Hey Car_man,
    My RL lease is up 09/01/08. What is the best lease I should get for 10k mi/yr, nav system in Houston, TX [my credit score is 783] ? Thanks for your help!
  • pds1pds1 Member Posts: 24
    My 2005 lease is coming to an end next month. I'm ready to lease a new 2009 RL.

    Does anyone know the monthly payment for that car on a 36 month lease with zero down and 12K miles?

    Thanks

    Hobart
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mrusso. You need to know the MSRP and selling price of the RL that you are interested in to calculate its lease payment. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base '09 RL with 10,000 miles per year are .00137 and 55%, respectively. Take these numbers, along with the MSRP and selling price and plug them into the formula that is outlined in the following article to get an idea of what sort of lease payment to expect: Calculate Your Own Lease Payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pds1. Acura is currently advertising the base 2009 RL at $549 per month for 36 months with $2,555 down. If you are in an area that has a decent level of competition, you should be able to do better than that by negotiating the lowest possible selling price and then having the dealer calculate your payment using Honda Finance's buy rate lease money factor of .00137 (for Super Preferred tier customers who pay a security deposit at lease signing).

    Car_man
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  • pds1pds1 Member Posts: 24
    Thanks for the numbers on the RL. I've been told to never put any meaningful money down on a lease transaction. In the event the car is stolen or totaled in the early months of the lease, I simply lose that down payment.

    Is that correct? Isn't $2,555 too much to put down at the initiation of a lease?

    thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, pds1. What you were told is correct, it definitely is not a good idea to make a large capitalized cost reduction on a lease. Consumers can lease any vehicle that they want without making a down payment. All you have to pay at lease signing are your car's first month's payment, Honda Finance's $595 acquisition fee, a security deposit equivalent to your car's monthly payment rounded up to the nearest $25 increment, and any required state taxes or fees. You can even roll the taxes and acquisition fee into your car's cap cost to make them part of the payment if you want. Also, Honda Finance will waive its security deposit requirement in exchange for a .00010 money factor increase.

    Car_man
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  • mrussomrusso Member Posts: 9
    The dealers in Houston are reluctant in giving out the details of MF, etc. The best 2009 RL with tech deals I am being quoted in Houston are for $669/mo, 36 mo., 10k mi/yr and $3500 down. I was also quoted $779/mo with $1000 down. These rates are too high. I'd like to lease an RL with tech but it is more than I am willing to pay.
  • 1stacura1stacura Member Posts: 6
    Anyone know what the September lease situation is for a 2009 RL?

    Incentives / Dealer cash? Residuals? Money factor for Tier 1 customers?

    I'd be looking to do a 36 month lease at 12k.

    Thanks in advance. This forum is a huge help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 1stacura. Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura RL with 12,000 miles per year are .00119 and 53%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Acura is not currently providing any cash incentives on this model.

    Car_man
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  • kki000kki000 Member Posts: 17
    Hi,
    Im very interested in an 08 rl nav.
    What are the numbers looking like now, last update i see here is back in may.
    12k year 36 or 39 months.

    wondering if the cash back is still in effect for th 08s.

    tia.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kki000. Acura paid off its dealers $4,000 dealer cash for any remaining 2008 RLs that they had left in inventory back in July. You can still lease one through Honda Finance if you can find one, but you will have to use its standard lease program. Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura RL with 12,000 miles per year are .00270 and 47%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 39 month lease are .00270 and 46%.

    Car_man
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  • btl2btl2 Member Posts: 2
    could someone please give me the money factor and residual for a 15K mile lease in october thank you. Dealers typically insist the money factor is higher than what the blogs say. thanks. Does honda financial publish this info themselves?
  • eights38eights38 Member Posts: 145
    btl2,

    Acura's new program expires on November 3rd. For 36 months with 15,000 miles per year, the residual is 51% and the money factor is 0.00119.

    Best,
    Matt
    eights38@gmail.com
  • pds1pds1 Member Posts: 24
    Matt-
    Are you sure about those numbers for a 2009 RL? They seem low.

    Regards,
    Mike
  • jbm160jbm160 Member Posts: 19
    My lease is up in February on my 2006 RL and the residual value on my contract is higher than the asking price for the same year/mileage vehicles at dealers in my region. Is the lease-end purchase price negotiable, and if so, are there any tips on negotiating this? If I turn it in, what does AHFC sell it for to the dealer?
    Thanks,
    Bartley
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Bartley. If your car's purchase option price is significantly higher than its real world value at this point, place a call to Honda Finance...or whichever bank you are leasing it through and see if they will negotiate with you. There's no guarantee that they will. In fact, more often than not banks won't, but you don't have anything to lose by trying.

    Here's a little tip, if your initial contact at the bank isn't willing to work with you, lesses sometimes have better luck if they work their way up the ladder to a manager.

    Good luck and make sure to let us know how everything turns out.

    Car_man
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  • pds1pds1 Member Posts: 24
    Not going to happen. I tried to buy my 2005 RL from Honda Finance at the end of my lease for book value. This happened to be about $5500 less than the residual buyout price.

    "We do not negotiate the buyout price" they told me. "Just return the car if you do not want to pay the buyout price."

    Now Honda can eat the $5500 loss when they send my 2005 to the auction, but at least they know they can sell me a brand new 2009.

    If they had sold me the 2005, I would have driven it for 3 or 4 more years.
  • jbm160jbm160 Member Posts: 19
    Thanks for the tips, Car_man. I am leasing through AHFC, so I will try to contact them and will let you know if anything comes of it. I also understand pds1's point. It doesn't really matter to me, because I'm not planning to keep the car even if I buy it. My father-in-law likes the car and wants to buy it from me, but I'm not going to let him pay Honda above market value.

    Bartley
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Bartley. I have heard that Honda Finance is pretty reluctant to negotiate lease-end purchase prices, but give it a shot...you certainly don't have anything to lose.

    Car_man
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  • chea89chea89 Member Posts: 57
    Need a 4wd sedan for my wife-she hates the look of new TL. We [she] are interested in RL with tech package. Does anyone, Car_Man, know the money factor, residuals, and the rebates and/or marketing support?
    I hate the small size of the RL compared to other cars in this price range.
    Thanks for your replies.
    Charlie
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Charlie. 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 2009 Acura RL with 15,000 miles per year are .00250 and 46%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. You can actually reduce your car's payment slightly by going with a 39 month lease. The money factor for the 39 month term is the same, but its residual value is 1% lower.

    When negotiating your lease on this car, make sure to take the $3,000 dealer cash that is available on this car into account.

    Car_man
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  • chea89chea89 Member Posts: 57
    Thanks Car_man;
    We were interested in 36 months 12k/yea on the 09 RL. But I think our attention is now on the Mercedes E350 4matic sedan. I do love the reliability of Acura vs. the German luxury brands {former Audi and Lexus owner}. I do appreciate all the info to be gathered in these forums.

    Charlie
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Charlie. Perhaps I'll see you over in the Mercedes discussions.

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  • markinfriscomarkinfrisco Member Posts: 17
    Hi Car Man...

    I'm interested in a base model 2009 RL. What should I know about Acura's lease program on this car right now? i.e money factor, residual, incentives, etc.
  • markinfriscomarkinfrisco Member Posts: 17
    I feel like I got a really good deal yesterday. I was coming out of a lease on a 2005 RL at $699 per month. It was a 4 year lease with a residual of $23,900 and change. In the 4 years that I had the car, I put on 68,300 miles. After doing enough research, I decided that the residual was too high for a 4 year old car with almost 70k miles on it. I was seeing the same car for 23k with about 25k less miles on it. So I went into my Acura dealership to test drive the TL with no thoughts about the RL as I didn't want my payment around $700 per month. In fact, I had seen some $700+ payments on some RL leases.

    I test drove the TL and decided it was "doable" for a leased vehicle. But just for $hits and grins I asked them if they had an RLs on the lot. He said he had 2. One that was with just the base model and another with the technology package. Since I rarely ever used my GPS on my 2005 RL, I asked the sales person if he thought I could get a "deal" on the RL. He said maybe the one without the technology package.

    After the general manager came out to see me before I left, I told the GM to give me numbers on the TL with technology and the RL without. After about 5 days of going back and forth via email with the GM, I struck a deal on a 2009 RL without the technology. It had an MSRP in the $47k range and here is the deal I received:

    Purchase price of $38890.54

    money factor: .00215

    Residual: 47% or $22296.80

    Monthly payment of $592.49

    12,000 miles per year.

    My plan is to actually buy this car outright. I love the RL and this one is gorgeous. It's black with the ebony interior. Going to go get the windows tinted tomorrow and will probably pick up the splash guards within the next month or so. I figured with as little as I used the Navigation on the 2005 RL, I would go pick up a Garmin and use it when I need it. The only reason I was able to get such a great deal was that not many people are willing to pay almost 50k for a car without navigation.

    I love my new car.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Mark. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Acura RL with 15,000 miles per year are .00200 and 44%, 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 $3,000 dealer cash incentive that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Mark. I see that you actually finalized your deal already. I guess that you can ignore my previous post ;) . Congratulations on getting your new RL. Thanks for taking the time to post the details of your lease with everyone.

    If you have the time, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well.

    Enjoy your new ride :shades: !

    Car_man
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  • soloboysoloboy Member Posts: 1
    hey mark - what happened to ur 05 rl on this when u returned it? any charges for overmileage? since u got another car did they waive it?
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