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2013 and earlier-Acura RL Lease Questions

CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
edited January 2014 in Acura
Hi everyone. Please use the following discussion to post any questions that you have about leasing an Acura RL. Thanks.

Car_man
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  • houtxguyhoutxguy Member Posts: 11
    Car_man - been looking at the 05 RL for quite some time and thought this holiday weekend would be a good time to pull the trigger. Went to one of the 4 Acura dealers in Houston and attempted to make an offer on leasing an RL. Apparently for the Labor Day holiday AHFC has dropped the tax rate 5% thus in Tx making it 1.25%. Did not get the money factor or any other details besides the price of $44500 and a lowball on my trade (03 Nissan Maxima).

    Decided to list the car for private sale since the dealer offered $7k less than I can sell it for (give or take $1K). Can you confirm the latest deals on an RL lease? Seems the lots here in Tx are a bit light on stock but the price is still somewhat close to invoice.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi houtxguy. I believe that Acura just published a new lease program for the RL a day or two ago. I have not had an opportunity to take a look at its new residual values for this car yet, but I can tell you that Acura is not providing any sort of lease money factor support on it. As a result, if you were to lease one through American Honda Finance Corp. right now, you would have to use its standard lease money factors. The last time that I saw it, AHFC's base standard money factor was .00240 for 36 month leases. While there is no money factor support on the '05 RL, Acura is providing a $2,500 cash incentive on leases of it through AHFC through September 6th. Make sure to take this cash into account when negotiating your car's capitalized cost.

    Car_man
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  • arizonaheatarizonaheat Member Posts: 8
    Has anyone recently received a quote or completed a deal on a 24 month lease? I've researched the 36 mo. numbers extensively. Not sure what the residual % is on 24 month.
    It appears that total out of pocket after 36 months (total down, total payments X 36 mos) is running between $19,750 - $21,000. I understand cap cost, money factor, residual etc.... Just looking for a measuring stick on 24 month deals.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello arizonaheat. I can give you an idea of what this car's 2 year lease program is currently like. According to the latest information that I have seen, if you were to lease a 2005 Acura RL through Honda Finance Corp. right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00370 and 63%, respectively. You would definitely be able to get a much more attractive payment on this car by leasing it for 36 months.

    Car_man
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  • mmcportermmcporter Member Posts: 10
    Car_man, I am wondering if you can help me. I want to do a sign and drive lease on a new Acura--I am kinda torn between doing a 36 month lease, no money down, 15,000 miles on the two cars:

    2005 Acura TL with 6 speed and Nav

    2005 Acura RL

    I drove both and loved 'em. The TL was sportier but the RL has AWD which is important here in Massachusetts. I got a high lease quote on both as the opening shot from the salesman. However, I stopped by a second dealer and the numbers for the two cars, while both still a little high, were coming closer together. The salesman seemed to imply that the RL would be close to the TL because of the $2,500 that Acura has in place right now for the RL. The dealer quoted me $637 for the RL (36 months nothing down but the first months payments and the fees) and $545 for the TL. I think he cranked the number up on the TL because he wants me to take the RL. How do these numbers look for a quote in Massachusetts? Shouldnt the TL be closer to $400+ per month? How about the RL. Any help you can provide would be appreciated; I've never leased before, but a colleague told me it's the way to go, as I like to get new cars every 3-4 years.

    Thanks,

    (ps--sorry for the double-post) I also posted this on the TL lease page.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mmcporter. The salesperson was right that the dealer cash that is currently available on the 2005 Acura RL will make its lease payment closer to the payment of an Acura TL than it normally would be. Just how much closer is difficult to say without knowing the MSRPs and selling prices of the vehicles that you are interested in. 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 these cars' selling price in relation to their MSRPs you don't know how much of a discount you are getting on them. The second reason is that one needs the selling price and MSRP, including the destination charge, vehicles to calculate their lease payments. I would be more than happy to work up a sample lease payments on the cars using Acura's actual current lease program for you if you let me know what these numbers are.

    Car_man
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  • mmcportermmcporter Member Posts: 10
    Car_man,

    For the RL, the MSRP is $49,100 plus destination of $570. I havent negotiated the pricing yet, but the invoice is $43,714 with the $570 destination plus there is $2,500 in play from the manufacturer. So I would say that I should be able to get the car for $45K BEFORE the application of the $2,500. Again, looking for 0 down except the first payment plus fees, 15K miles per year on a 36 month lease. Hope this helps. I will post the similar information in the TL forum on the TL.

    Best,
  • birdbirdbirdbird Member Posts: 63
    What about tax on the RL. Was that included in the payment they are quoting you. If not, that will jack the monthly payment up a lot?

    Also, I have a question for car_man. Don't you think by waiting until early October that a better lease price on an RL might be likely? Acura will be needing to get rid of all the RLs all over the country in advance of the arrival of new 2006 models won't they?
  • pittpantherpittpanther Member Posts: 9
    I also have a question Car_Man...

    I am looking into the lease special on the RL as well. I have a very good friend who quoted me $42,400 (including destination) for the vehicle - ...I know, it's a fantastic price :)! In fact, my other friend is completing the purchase of an RL at that price today with her.

    I was (pleasantly) surpirsed to read about the $2,500 cap reduction incentive! What is AHFC using right know for Money Factor and Residual for a 36 month lease? Do you have the numbers for a 39 and 48 month lease as well?

    Thanks so much!

    ...Doug
  • mmcportermmcporter Member Posts: 10
    In Mass, we have a 5% auto tax, which on a lease can be made on every payment. So a $600/month payment becomes $630 with tax.
  • pittpantherpittpanther Member Posts: 9
    I received the following quote from the dealer... for a 36 month lease, 12,000 miles per year: 0.00299 money factor and a 58% residual. The finance guy told my friend who works there that the 0.00299 is their buy rate currently.

    I was able to find some other information on another forum that the current buy rate from AHFC on a 36 month lease is 0.00235, but I have not been able to confirm this yet. So I am not sure which is accurate...

    Also, I was able to do a bit more research, and it seems like the $42,400 price that I was quoted is good, but not as exceptional as I had thought. Many RL owners are securing prices around this value at dealers looking to move their 05 overstock to make way for the 06s.
  • pittpantherpittpanther Member Posts: 9
    Interestingly enough, another dealer indicated that the current buy rate through AHFC is actually 0.0026 (36 month, 12K miles year)!

    This is always such a struggle...!
  • BushwackBushwack Member Posts: 258
    The current rate is 0.00235 at 36 months (at 58% residual). I've been looking at leasing the RL for the past few weeks. Best price I've been able to negotiate here in Los Angeles is $41,900 (highest was $42,500). I've heard of people in other parts of the country pleased with a purchase price of $45K (supply & demand).
  • pittpantherpittpanther Member Posts: 9
    Thanks Bushwack - is that American Honda Finance's buy rate? Can you tell me where you found this info?

    If so, the finance guy at Norris Acura West (Ellicott City, MD) flat out lied to my friend, who is a sales associate there.
  • birdbirdbirdbird Member Posts: 63
    Doesn't it make sense that negotiating a lease next month could result in the best price? I mean, this is still only September and the 06's won't be going to dealers until late October or November, is that right? And if a dealer runs out of what's in stock, they can always order one from another dealer for you right?
  • hybrid3hybrid3 Member Posts: 22
    Are there any changes in the '06 RL? The dealers will discount the 06's also and if you are leasing won't the 06 have a better residual value? Also lots of talk about tires has been very imformative, but anyone have 18" wheels,thoughts on this? I will be getting an Rl by Christmas. My current lease will be up by then, unless I pay to get out early because the deal on the 05 is so good.
  • bps007bps007 Member Posts: 6
    Is your 41,900 price for purchase or lease?? Are the $2500 incentives for an RL lease still available and if so, could this amount be deducted from a negotiated purchase price of 41900?? Sounds to low to be true (i.e. 41900 - 2500) for a leased 2005 RL.

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, mmcporter. Let's work up a sample lease payment on this car for you and see what we come up with. According to my calculations, if you were to lease a 2005 Acura RL with an MSRP of $49,670 and a selling price of $42,500 through Honda Finance right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment should be around $584.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi birdbird. Acura's current lease program and the $2,500 dealer cash that is available on the 2005 RL are scheduled to run through October 3rd. It is difficult to say what this car's incentives will be like after that date. If I had to make an educated guess, I would say that the dealer cash and lease program for this car will likely be very similar in October to what they are like right now, but that is only an educated guess.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Doug. I suspect that your friend is already using the $2,500 dealer cash that is currently available on the 2005 RL to arrive at the selling price that you were quoted. Honda Finance's current buy rate lease money factor and residual value for a 36 month, 15,000 miles per year lease of an '05 RL with the payment of a security deposit and acquisition fee should be .00250 and 56%. The numbers for otherwise identical 39 and 48 month leases should be .00250 / 50% and .00230 / 46%.

    Car_man
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  • philbakerphilbaker Member Posts: 12
    I've been looking for an 05 RL and the best price in the San Diego area is about $42500 to purchase. My current lease expires in December so what to do? What's the liklihood of the $2500 purchase incentives being continued past Oct 3? Does anyone have any idea of the pricing on the 06s? Could their retail be lower than the 05s? I plan to keep my car for about 6 yrs.
    Thanks
  • birdbirdbirdbird Member Posts: 63
    I was just curious as to what color combination you are looking at? And how many RLs '05 are on the lots you're checking at? What colors are still there?
  • philbakerphilbaker Member Posts: 12
    Looking at Celestial Silver. There seems to be lots of them around, both in Taupe and black interiors.
  • mmcportermmcporter Member Posts: 10
    Thanks for the follow up Car_Man. I did a lease and here is what I got (approx). I leased the car with a purch price of approx 41.8K, paid first payment and fees up front, waived the security deposit of $600 in return for a slightly higher money rate (.00260 instead of .00235). Got an out the door pretax price of $568 for 36 month 15K mile lease.

    I am happy.

    Thanks again for your help. The car is wonderful--more than I expected.

    Best,

    M
  • joeysoxjoeysox Member Posts: 1
    what should I shoot for on a 36 month lease, 10K miles, no money down in New York?
  • hybrid3hybrid3 Member Posts: 22
    I priced the RL on LI about a week ago. I decided to wait for the '06. This is lowest price I received on a 15k and 12k mile lease with no money down:

    15k $600
    12k $575

    I know this isn't for a 10k lease, but at least you know you should be $15-20 less than $575.
  • hybrid3hybrid3 Member Posts: 22
    Anyone see a picture of the '06 RL with Pax tires on it? Any idea what they are going to charge for the Technology Package?
  • birdbirdbirdbird Member Posts: 63
    Does that monthly payment include sales tax?
  • birdbirdbirdbird Member Posts: 63
    I have a question for you car_man. I imagine the '06 RLs will be coming to the dealers before too much longer, is that what you are hearing?

    What impact will that have on lease pricing for the RL? Is it likely that waiting a month or two and leasing a new '06 will not be much more money than leasing an '05 this month?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    It is difficult to say for certain whether Acura will continue the $2,500 dealer cash that is is currently providing on the 2005 RL when it introduces its new October incentives on the 4th, but in all likelihood it will at least continue this dealer cash. I highly doubt that Acura's price on the 2006 RL will be lower than it is on the '05 model. In fact, given the fact that the '06 model is unlikely to have any dealer cash on it when it first hits dealer lots and the fact that dealers will be anxious to unload their remaining 2005 inventory the 2006 model will probably be more expensive than the '05.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem mmcporter. I am glad that I was able to help you out. Congratulations on your new car and thanks for taking the time to stop back and let us all know how everything turned out.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi birdbird. I've heard that the 2006 Acura RL will begin to arrive at dealers during the third or fourth week of October. Once the 2006 models begin to arrive, I suspect that dealers will be even more anxious to sell their remaining 2005 models. It is difficult to say what the 2006 RL's lease program will be like at this point. I suspect that Acura will not initially provide any sort of lease support on the '06 RL. Once the 2005 models are basically sold out I would not be surprised if Acura introduced either some dealer cash or perhaps the first special lease money factor on this car since it was redesigned. As I said though it is difficult to predict exactly what manufacturers will do with their future incentive and lease programs.

    Car_man
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  • surftamersurftamer Member Posts: 6
    Here's the deal i've been offered in NJ:
    3 years, 25,000 miles per year
    $2300.00 down
    $499.00 per month
    Still decided to wait for the 2006 models then decide on a 2005 or 2006.
  • acuranaviacuranavi Member Posts: 5
    surftame,

    That lease sounds too good to be true. I'd like to know what the cap cost, money factor, and residual is. The best I've been able to find is $1,000 drive off, 592/mo + tax for 36 months, 18,000 miles a year, the selling price being around 40,800. I'd take you're lease in a second. Please tell us more.
  • surftamersurftamer Member Posts: 6
    I didn't get far enough into the deal to look at cap,residual, etc. I went to the dealer, showed him the deal a friend had gotten on an 05 RL and asked if they could do better.
    The deal I showed above is what they offered...actually, they wanted $499.oo per month plus tax, but thought I could get the tax taken off the deal if we had negotiated a little.
    Even though it's a great deal compared to what I have read, I'm guessing there is no downside to waiting for the 06's then deciding whether to lease an 05 or 06.
  • billyperksbillyperks Member Posts: 449
    25,000 miles per year- WOW.

    The warranty would expire in the second year of the lease-that's scary.:(
  • hybrid3hybrid3 Member Posts: 22
    I just left a deposit on Long Island for an RL. I went to 3 dealers and their deal was the best, very similar to mmcporter's.

    3 yr 15k $565. Not including tax and fees.

    Dealer inventory is not great on Long Island. The dealer where I left the deposit is the only dealer on Long Island that had the color I wanted. So even though '06's are on the way, I think at least dealer inventory would prevent me from getting a lower price at least here.
  • sam_ksam_k Member Posts: 200
    Car_man, I'd like to know what the money factor and residual percentage is on a 10K or 12K miles/year, 36 month lease of an Acura RL. Also, they have several dealer installed accessories (listed on the Acura web site) that I'd like to get such as the 18" wheels, rear spoiler, etc but I'm not if they will residualized or not in the lease. Obviously if I have to pay for them in their entirety over the course of the 3 year lease, it will greatly affect the cost of the lease. I'm not sure if it matters but I'm located in the NYC area. I'm sure you saw my post in the Infiniti M35 forum and I'm currently comparing the leasing costs of several cars. Thanks in advance.

    Sam
  • hybrid3hybrid3 Member Posts: 22
    I just signed a lease and will be picking up the car Wednesday. I asked about the 18" wheels and they are not residualized in the lease so you pay for the full amount and own them at the end of the lease. I live on Long Island, not sure if that matters. The wheels would have added over a $100 a month to the payment once the tires were added, so I passed. The rear spoiler is residualized.
  • baschbasch Member Posts: 2
    I'm looking to lease an Acura RL (05 or 06) or Infiniti M35x. I'm currently extending a lease on an 04 Acura. This was my first experience at leasing, and I'm concerned about issues at turn-in as well as advice on next car. I was planning to get Infiniti M35x but after 2 mos couldn't get exact vehicle I wanted, so now i'm looking at going back to Acura. 1) Are they likely to continue extending my lease month-to-month or is there a point where you are automatically committed to another yr? Any problems I should look for at lease end - they already did the inspection which went fine. I was late on a payment due to the extension - is that likely to show up on my credit report? 2) Is there such a thing, and if so is there any advantage to trying to "prearrange" lease for 06 as soon as they're available? 3) Any word on availability for RLs or Infiniti AWD? Will Infiniti become more available soon, and any idea when 06 RL's will get to Metro DC area, or where they will be available first? Thanks for any help...
  • sam_ksam_k Member Posts: 200
    $100/month to the cost the lease just to finance the the 18" wheels!? That makes sense since they're not residualized but that's crazy. It's $1900 for those wheels and probably between $800 and $1000 for tires and then you finance that total of $2900 over 3 years. The fact that you get 19" wheels on the Infiniti M35 Sport and 18" wheels on the M35 and M35x as standard equipment that is residualized will be a factor in my decision as to which car I choose. I give Acura credit for having either no options or only a couple of options on their cars however, they're just making it easier for dealers to make money by having dealer installed "accessories" instead of factory installed options. From my past researched, back in 1999 and again in 2002 when I was looking to lease an Acura, they were always expensive to lease and it seems like it's only gotten a little better.
  • hybrid3hybrid3 Member Posts: 22
    I agree, it is definitely crazy. The wheels should be a factory option. However the lease deals on the RL are much better than the M. You really can't go wrong with either car. The deals are great on the RL now, M's being newer, deals are harder to come by. You do pay a premium for getting a car near release. The dealer was trying to act like it was a good deal beause I get to keep the rims at the end of the lease. What the heck would I do with them?
  • billyperksbillyperks Member Posts: 449
    Put them on EBAY.:)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you are looking for, Sam. If you were to lease a 2005 Acura RL through Honda Finance for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00250 and 58%, respectively. Its money factor for an otherwise identical lease with 10,000 miles per year would be the same, but its residual value would increase to 59%. I am not sure if Honda Finance allows the residualization of dealer installed options, but I suspect that it does not. If you decide to have any dealer installed options put in your car and they cannot be residualized, make sure to keep the old parts. You can reinstall them when you go to turn your vehicle in at lease-end and can sell the upgraded parts that you had put on since you paid for them in full over the course of your lease. When negotiating your lease on this car, don't forget to take the $2,500 dealer cash that Acura is currently providing on it into account.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi basch. You need to place a call directly to Honda Finance, or whatever bank you are leasing your current car through, to see if they will let you continue to lease your car month to month. There definitely is a limit to how long they will let you to extend your lease like this. As long as your car has not had any problems or gotten and new dents or scratches since your clean inspection you should not have to worry about having to pay any sort of excess wear and tear penalty. Unless the payment on your lease was unbelievably late, I highly doubt that the slightly late payment that resulted from the extension of your lease will have a negative impact upon your credit report. You can negotiate the selling price of the 2006 Acura RL that you are interested in before they hit dealers, as long as its pricing has been published. However, the dealer that you are working with will not be able to quote you an exact lease payment for it at this time because Honda Finance has not published its lease program for the '06 RL yet. I believe that the 2006 RL is scheduled to hit dealers before the end of the year, but I do not know the exact date.

    Car_man
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  • sam_ksam_k Member Posts: 200
    Thanks Car_man! It's so hard to get this information out of the dealers without going through the negotiation process. I love being armed with information when I talk to dealers. My lease on my 2002 Lexus GS300 is up on December 1st so I'll probably ask you if these numbers (and the others) have changed. I think I might extend my lease by 1 month because I don't think I'm going to have time in the next 6 weeks to do my car shopping. Right now my choices are Acura RL, Infiniti M35 Sport (not the AWD), new Lexus IS350 and Lexus GS300 (possibly AWD). The Acura RL is a little bit boring to me compared to the others but it might end up being the best deal especially with that $2500 cash back. I might be able to get an ever better deal on a left over 2005 unless they add features to the 2006 model that I would want. Even though I love Lexus' and I've had 2 GS300s, the new one is at the bottom of my list. Right now the 2 front runners are the Infiniti M35 Sport and IS350. The other thing that's bothering me is that all these cars are in their first model year of production and I don't like to buy a new model in it's first year of production because the number of defects and problems is always higher in the first year. Consumer Reports put out an article showing this to be true.
  • diesel3diesel3 Member Posts: 18
    i visited a dealer in NY and i think he offered me a solid deal. RL, 39months,15k and 2500 out of pocket which includes taxes,1st month, etc for 540 a month. He said the msrp on the car was 42,000. Can i get better or am i being greedy? thanks alot
  • rshaffer1rshaffer1 Member Posts: 6
    Just offered the following from my local dealer in northern NJ, and would value your take on it. Day one payment of $1,584, including: AHFC fee $595;doc fee $129; MV registration $261; and first payment $599 (payments include NJ sales tax)
    term = 36 months; Residual = 58% ($28,809); mileage 12k/year; money factor of .0025
    Salesman said the cap cost is $43,840, (but my math works it out to be $42,675).
    Anyway, I was thinking if they threw in the wood/leather steering wheel and shift knob, wheel locks, trunk tray and splash guards, then the $599/month payment was reasonable, provided it includes sales tax (which is clearly what I was told). What do you think?Should I be able to do better?
  • birdbirdbirdbird Member Posts: 63
    Yes, I would be interested in car_man's opinion on this as well. Also, Car_man, at this point in time what would you consider to be a "reasonable average" montly lease payment for an RL right now. I mean without sales tax included and with nothing down? I as thinking that $625.00 per month without sales tax included would be a reasonable offer? This is because the deal offered at the Acura web site appears to me to work out to nearly $700.00 per month or maybe I'm wrong about that? Also, I notice that some 2006 TLs are at the dealers now. Could the RLs be arriving this month as well?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome sam_k. Stop back when you are back in the market in a month or two and I will be happy to give you an update on the lease programs for the cars that you are interested in.

    Car_man
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