2013 and earlier-Acura TL Lease Questions

gforce11 · April 2008

At 20k miles a year, you should consider buying the car. 649.19 a month is ALOT. Leasing is more ideal for people who drive around 15k or less. You should probably read up on leasing guides. Edmunds has a fairly comprehensive one HERE. I also write about leasing on my Web Blog if you need more places for reference. You have a rather unique situation where your residual will be rather low due to your high mileage allowance. All that means is that you will be paying for a lot of depreciation on that car. If I were in your shoes, I would lease it at 12k miles for 36 months (probably around 800 bucks, 480 a month after tax, maybe less) and drive it til lease end. Then I would buy out the car, or simply trade it in for another.

richardstar · April 2008

My question is if I know I will be driving $20K miles a year should I take the 12K lease and pay up later? It sounds like the monthly will be substantial and it may be worth it in the long run?

gforce11 · April 2008

Richard, to answer your question lets do some math...the quote I got for the TL-S was 800 down, $450 a month. That was in march, seeing how the numbers haven't changed (from what I know) it should stay relatively the same. Your quote is basically $650. So thats $200 more you pay a month. Take that $200 multiply by 36 months and you're basically paying around $7200 more on a 20k mile/yr lease than on a 12k mile lease.
Now, say get charged .25 cents per mile over the 36k mile you are allowed on a 12k mile/yr lease. Thats 24,000 mile overage multiplied by .25 cents = $6,000. So technically, you are saving about $1200 if you just go over the mileage. Even if they charged you 8.25% tax on the 6k ( don't see why they would, but you never know), you are still under the $7200 you would be paying if you take on the current offer.
I see two choices. Either shave off another $30 or so off the $650 monthly quote, or try to find a 12k mile/yr lease thats around $450 per month and pay up at then end of the lease for any overage.
Hope this helps.

richardstar · April 2008

I appreciate the eye opening math and yes it makes much more sense to me now. I thank you for that. One more purchasing question. With the TLS they are throwing in TENZO BLACK RIMS & MICHLIN TIRES 265/30 ZR 19
$3111.00 + $120.00 Labor to put on your new vehicle. I'm a sucker for nice looking wheels! Am I still paying too much @ $649?? I'm afraid I may be and perhaps should either forget the rims or haggle down?
Rich

gforce11 · April 2008

RIMS! Yeah I've always wanted them, but could never justify them.
I wouldn't spend the money on the rims, at least I wouldn't let them roll it into the lease because you would be paying interest and tax on it. You might be better offer haggling down the offer without the rims/tires and buying them separately. Then, at the end of your lease, swap out the rims with the stock ones and return the car. You can sell those rims on Craigslist and recoup a good chunk of the money you spent on them. You can chose to keep them too if you like, in case your next ride can use them.
Its really hard to tell if the deal is good at $649 since I don't know if they are just adding the cost of the rim into the cap cost and leaving the residual the same or not. If they adjust the residual accordingly, then maybe it isn't too bad since you'd be paying for the depreciation of the rims instead of paying for the whole thing and then giving it back to them at the end of the lease for free.

jimmyvegas · April 2008

That sounds really good. How many month lease? Is it that plus tax? Which dealer. I may go there. How many miles do you get per year? Thanks.

jimmyvegas · April 2008

I am in California and the best I have been able to get is invoice ($31,706) less dealer incentive for leasing of $1000. A residual value of 54% (of MSRP) and a money factor of .00101 (2.42%) I would be getting a 36 month lease and allowed 12,000 miles per years. They would waive the security deposit and am having a little trouble pinning them down on fees but it looks like $500 acquisition fee and $476 title and registration. With $2500 drive off it comes to $353.45 a month including tax. Anyone finding better? Many thanks.

aluminumfalcon · May 2008

What is the current residual and money factor for the base TL NO Nav. For 24 months and 36 months with 15,000 miles per year.

I thought it was .00101 (MF) and 64%(residual) for 24 mo and 15K miles/yr. I was quoted .00111 and 63%. Not sure if the AHFC values changed or if it is dealer markup.

Also is this a good deal:

Here is what I was quoted:
Base TL NO Nav
Color Matched Splash Guards
24 Mo/15,000 Miles Per year
63% Residual
.00111 Money Factor
$29,900 plus taxes
Dealer Prep Fee $497
Aquisistion $595

Any info would be appreciated.

Thanks

CarMan@Edmunds · May 2008

Yes, blind224, the $1,000 dealer cash on leases of the 2008 TL through Honda Finance is still available in May.

Car_man
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CarMan@Edmunds · May 2008

Hi aluminumfalcon. According to the latest data that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a base 2008 Acura TL with 15,000 miles per year are .00171 and 63%, respectively. The numbers for an otherwise identical 36 month lease are .00171 and 53%. When negotiating your lease on this car, make sure to take advantage of the $1,000 dealer cash that is currently available on leases of it through Honda Finance. If I was in the market for one right now and I lived in an area that has a decent level of competition, I personally would shoot for a selling price of $500 over dealer invoice...$500 under after the dealer cash is taken into account...and see what happens.

Car_man
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aroth · May 2008

Thinking of leasing a 2008 Acura TL (w/o Nav) vs the G35. Below is the quote on the TL:
$2600 down
36 Months at 12k miles/year
31,768.98 net cap cost
55% Residual Value
money factor .00111
400.17 total per month (including tax)

The dealer says the net cap cost already includes the $1000 dealer cash. Dealer is including Wheel locks. mud guards and a cargo tray. What else can I negotiate?

Deal or No Deal?

zheka212 · May 2008

This is what I was offered from NE PA dealer:

Lease: 2008 Acura TL - Automatic Non Navigation
MSRP: $34,395
Selling Price: $31,099
36 months x 12k miles per year = $466.09 per month with ZERO due at singing
36 months x 12k miles per year = $427.27 per month with $1,200 due at signing
Money Factor: .001110
Residual: 55% - $18,942

Includes PA tax @ 9%

Invoice for the car looks like 31,706 before incentives.
Invoice + 595 inception - 1000 lease cash = $31,301.

Too lazy to check the math, but I think something is a little higher then the $400 your net cap cost is higher then the invoice by.

aroth · May 2008

Thanks for your info. My sales person says that the $1000 cash back was already factored into my sales price. In other words, there is nothing that documents that I received the $1000 cash back. Are you getting the same response?

denverg35 · May 2008

If anyone has had to make a decision between the TL and the G35x, I would love to hear their perspective. Like the handling of the G better, but the TL is smoother (hard to compare on short test drives) and seems quieter.

Also, does anyone have the May TL Base MF and Resid for a 2 and 3 year lease, assuming 12,000 miles? Infiniti has some pretty high resids for short leases.

Thanks in advance!

boodyup · May 2008

Hi Car_man,

New to this forum. Question for you. Seeing that there aren't many lease incentives in May, do you think I would be able to negotiate on a base auto TL 36 month lease, 12K miles for under 400 (including tax) with nothing down? Would it be wise to wait for next month's deals? The dealer told me that I "should act" b/c Acura will be pulling the lease program pretty soon in anticipation for the new redesign.

I'm somewhat confused b/c if the TL is going to be refreshed this fall, wouldn't it be harder to get a good lease on the auto since the residual would be so much lower?

gforce11 · May 2008

TL will be better equipped for the price compared to the G35x. If you live in an area where AWD is preferred or is needed, then G35x is the way to go. I drove the G35 yesterday, its one powerful and nimble car. It does a very good job transferring the drivers actions on to the road. BMW-esque if you will. So if you don't care about having all the bells and whistle go with the TL. If power, performance is your thing, G35x is the way to go.

thero0kie · May 2008

Hi all !
i am currently trying to lease either the audi a4 or the acura TL.
for some reason the Acura dealership ( in Fresno, CA) is not willing to give me a monthly payment or any sort of data over the phone. They want me to come in.
I want to lease the Base automatic Acura TL for 36 months with 15,000 miles.
and was wondering as to what monthly payment i can get it for without any down payment ?. The dealer i talked to said something about a lil under 400 maybe with 2000 down.
Sorry i dont have anymore info, but if u guys can give me a ball park monthly payment figure with zero down or at most 1500 down, that'll be helpful.

Thanks.

nickerz · May 2008

I'm interested in leasing for only 24 months w/15K miles per month and as little down as possible. I would like an automatic w/Navigation. Does anyone know what the monthly payment would like? I know you're suppose to negotiate the cars price, so based on the cap cost and incentives (if any), is it out of the question to get this under $500/month?

jimmyvegas · May 2008

I did a lot of shopping and have offer for new 2008 Acura TL base for $2500 total drive off and $330 a month including tax using 12,000 mi per year. (assumes 8 1/4 % tax rate)

So I should think that out there there is someone who make a deal for $1500 drive off and $380 a month for the next 35 months..... Might not be able to go quite that low as residual rate probably drops from 12,000 mi to the 15,000. But am guessing the extra mileage costs you $17.50 a month...Divide the $1000 less drive off you want from me over 35 months and that is where I got the figure.

Maybe wait a week for Memorial Day weekend. Dealers might have added incentives. Get you hands on a Sunday LA Times that weekend see what they are advertising them at to get another perspective. Can't wait to get mine.

apothny · May 2008

After pitting one SoCal dealer against another--I think I did ok---what u guys think?2008 TL Type-S (Silver/Auto)
36/12,000
Selling price= 32,936.27+ tax
980.00 Drive off
Residual= 20,639
414/mo + tax
I think MF = 1.1099

The dealer that I went with wound up throwing in the protection pkg (mug flap +wheel locks+trunk mat) for "free"---.

aafilsoof · May 2008

sounds great, what SoCal dealerships? I'm in oc and looking to lease soon.

striper1003 · May 2008

I was recently quoted in NY a selling price of $29,305 for a 2008 TL base model. Does anybody know how much lease payments would be based upon 36 months/15K as I am not sure what the current MF is and residual. I would like to stay under $400 a month.

Do you guys think there are better deals to be had on the TL in the NY area these days?

Thank you in advance for your responses

sbar · May 2008

Can you let me know the name of the dealership that you leased your Type-S from? I am looking to do a similar deal within the next week or two. Thanks

toenlo36 · May 2008

This is what I was offered from Long Island dealer:

Lease: 2008 Acura TL - Automatic Non Navigation
MSRP: $34,440
Selling Price: $31,099
36 months x 12k miles per year = $399.22 per month with ZERO due at singing
Money Factor: .001110
Residual: 55% - $18,942

Due at signing:
Bank Fee $ 595
Tax $1200 and change
First Month $ 399.22
Acquisition Fee $ 300.00

I hate the acquisition fee, but they would not drop it...Overall the interest payed monthly on this lease is around $55.00, which is not that bad....I think we are going to take this deal!

23109vc · May 2008

this is the best deal I've seen so far on a TL Type S.

I shopped around quite a bit, and haggled and haggled and the best deal i was offered was almost $50/month MORE than what you paid. I walked knowing things would get better.

this is better.

I'm honestly holding out for a price about another 25-50/month less than what you paid. I think with your $980 drive off, it would be possible to get them down to about 375/month.... at least under 400 is doable.. I think.

when the new TL hits the lots, and they still have 08s sitting around, they are gopign to deal even harder. at least that's my thought.

BUT, you did get a good deal. t he TL-S is a nice car. nice power, for a FWD car it handles really well..lots of cool tech stuff..

rdtrip85 · May 2008

You should be able to get the selling price down $1000 or so. What dealership on Long Island did you go to?

rdtrip85 · May 2008

Something is not right. I ran your numbers and came out with a monthly payment of $449 + tax. I assumed an 8% tax rate. The money factor is .00111. Even if your tax rate is 7%, the payment is $439 +. Did you put anything else down?

hondamattnj · May 2008

Generally with Honda/Acura when the new model hits the lease program goes to crap. Not sure what part of the country you are in but I think I can count all of the Type S TLs in the state of Arizona on one hand.

toenlo36 · May 2008

Island Acura...I had a trade that I took a check for, I worked extra $$ in on that end, I know the car could have been $1000 less, either way it worked out well.

jimmyvegas · May 2008

Finally got my new TL yesterday and wanted to share the final results as this form has been EXTREMELY helpful in getting me a great deal.

I went for 36 months and 12K mi per year. Ended up with $1,500 total drive off and 35 more payments of $356 a month including tax (8.25%)

This breaks down as follows:
Sale price : $29,625
Residual: $18,942
Acquisition fee $595
Title,reg & doc fees $338.46
Money Factor: .00111
Security deposit: $0
Capital reduction: $743.81

I learned that you probably want lease from Honda Financial as they include gap insurance and give you a $1500 allowance for excess wear and tear. They also have no turn in fee at the end of the lease.

I live in Southern California and shopped around. I think emailing the Internet Sales Manager helps in cutting through it. Best deals were at Keyes in Van Nuys, Santa Monica and Power in Torrence. All were pretty close but Keyes (who has the best selection left) has protection packages on all the cars which they will agree to charge only $550 for which is what they say their cost is.... but I preferred the car without it. Santa Monica was very aggressive, very helpful but in the end couldn't get the color combo I wanted and their selection seems pretty limited at the moment.

Power has a pretty good selection left, They cut right to the best deal in my first phone conversation and there were no unpleasant surprises along the way.

Calabasas, Thousand Oaks,Cerritos, and Tustin were all insisting on roughly $40 bucks more a month on the payments. So as I see it, this form saved me about $1400 over the 3 year life of this lease.

Thanks everybody for the really helpful input.

keroppi78 · May 2008

Hello~

Could someone please tell me why I cannot get a good lease deal for an Acura TL-S? We went around searching today in the Michigan area and the best deal they could come up with was :

$2100 down
$550.65 monthly payment including taxes
36/month lease
15/k mileage per year
RV: $19837

It seems high... do you all agree or am I just crazy?

apothny · May 2008

I did the internet thing and got the 414/mo 800-ish up front quote from Santa Monica. I then got Keyes to match it and add protection pkg (seems all their cars have it anyway)..for no charge. Keyes seemed to have a bad rep online...but the experience was fine. The car (TL-S) is awesome and I havent seen many Type-S on the roads of LA. I did just get back from my hometown in NYC and saw a bunch driven by young 20-something guido types... Oh well. Hope I got a better deal. My car is silver---but I have been very impressed with how cool it looks in White.

rdtrip85 · May 2008

Sounds good. I know Island Acura well. I purchased my current '05 TL from them and I sent over a few family members who bought from them. They gave me $100 per deal for recommending them ($300 total)! I'll be visiting them soon for a TL-S. Congrats on your new TL.

williamdean3 · May 2008

I have been offered a deal trading in my 04 TSX paid for. they will give me 12500 for it.

I will get a check back for 4k

give them the difference and pay $370 for 35 months on a 36month lease for an 08 TL with nav. with being allowed 15k a year I think it sounds like a bit high but want some opinions.

thanks

williamdean3 · May 2008

PS this also includes body side molding and tinted windows. But I am just concerned it seems like more cash should be coming out of this deal while keeping the payment the same. The dealer is also very pushy and must be having trouble selling vehicles in this economy as I this is the 3rd Acura I am consdering obtaining from them but with th dynamics of this situation and them paying taxes and all of the other variables they are taking care of I would just prefer an honest fresh perspective....thanks.

kyfdx · May 2008

But I am just concerned it seems like more cash should be coming out of this deal while keeping the payment the same

That's what it looks like to me... $8000 is a heck of a lot to put down on a lease.. Amortize that over 36 months, and your actual payment looks a lot more like $600/mo or more... :surprise:

I'm pretty sure that you can get a TL for under $500/mo., with nothing upfront but the first payment and some registration fees...

regards,
kyfdx
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williamdean3 · May 2008

thank you for your prompt reply I am interested in keeping my payment at about 370-400 a month I just dont kno what to expect as far as ho much cash I should have coming back to me to due to the trade. I will call another Acura dealer in the morning. I just dont ant to have a 500 a month lease payment. But also want to make sure I am getting the most cash back I can on my trade. thanks again if anyone else has any ideas or ays I could figure out I would be appreciative. i punched the numbers into Acuras website and figuring tax title license and documents w 15k a year and nav. the website says the payment is close and the amount due at signing is close to 8k but I dont know if that takes into account the grand Acura is offering currently as a lease incentive.

kyfdx · May 2008

First... the payment is just an illusion.. You want a payment of $370-$400 per month, but you are basically buying down the monthly with a large downpayment..

The Acura TL is a $450-$500 per month lease, with tax included, depending on mileage.. Putting the money upfront to keep the payment below $400 is just playing mind games.. If you really want a lease payment below $400, you could lease an '08 TSX and keep $11,500 of that $12,500 trade-in..

If your '04 TSX is paid off, it looks like you bought it 5 years ago.. Assuming you are willing to go that long with the next car, you could buy the TL.. If the purchase price with tax is $33K, then using your $12.5K trade as a downpayment, at 4.9% for 60 months, your payment would be about $386/mo..(borrowing $20.5K). At the end of 60 months, you would still have a car that was worth $11K-$14K, I think...

If you are intent on leasing the TL, and want the payment below $400 mo., then I think you should be able to do that with only $4000-$4500 upfront, at the most..(not that I recommend putting that much down). That's a long way from the $8000 that your dealer is quoting you..

regards,
kyfdx
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williamdean3 · May 2008

are you including sales tax and registration also did you figure that on a TL with navigation and on a 15k a year lease thank you again for your help

William

kyfdx · May 2008

Where I live, an Acura TL with NAV, including sales tax... 3yr/45K lease.. can be had for under $500/mo.. with nothing upfront but the first payment and registration (under $1000 total).

A lot of it depends on sales tax... what state do you live in?

toenlo36 · May 2008

Thanks, we picked it up a week ago, I liked the deal, and they are a great dealership to work with, very upfront and professional. To anyone else, you can absolutely get to under $400 a month without putting anything down.

williamdean3 · May 2008

I live in Texas I am going to the Acura dealer today to finalize things I have been to two seperate ones. I will let you know what happens today and the best deal I can get.

Thanks again

kyfdx · May 2008

That changes things.. One big drawback in Texas on leases? You pay tax on the whole car, with no trade-in credit.. So, you are paying 6.25% tax on around $32,000, just to lease the car for three years.. That's about $55/mo., just for tax..

If I lived in Texas, I'd seriously consider trading in and buying the TL.. You'd at least get a trade-in credit on the taxes for your TSX..

Good luck!
kyfdx

williamdean3 · May 2008

my mother is a lwayer and they have a tax attorney in their firm. I can place a call to her and see how Texas is affected because I am not sure how Texas calculates, Does anyone else know?

williamdean3 · May 2008

I got 13k for my TSX so they cut me a check back for 4k and after tax title license and other fees I have a 36 month lease with 15k miles per year allowed. My payment is $370 for 35 months and they added the bodyside molding and are tinting the windows for free. The figured a 52% residual so I have the option to buy the car for $19208.80 in 3 years. But I doubt I will be doing that because I will have to pay sales tax all over again. I think in 36 mos I will turn it in and hopefully a coupe will catch my eye by than because I have been in love with this car since I got my TSX back 4 years ago.

The one thing that makes no sense is the way they do the paperwork.

We agreed on price and than payments and trade value.

But the contract I signed shows

GROSS CAPITALIZED COST OF 37790.79

CAPITALIZED COST REDUCTION 7250

ADJUSTED CAP COST 30540.79

RESIDUAL VALUE 19208.80

DEPRECIATION AND ANY AMORTIZED AMOUNTS 11331.99

RENT CHARGE 1987.92

TOTAL OF BASE PAYMENTS 13319.91

LEASE PAYMENTS 36
BASE PAYMENT 370.00

SO THE TOTAL AMOUNT OF PAYMENTS BY THEIR PAPERWORK IS 20702.55 IF YOU INCLUDE monthly payments and trade in value. Only I got more for my trade than this shows. Its just that in Texas they said you can only put 20% down on a lease.....The numbers payment and cash back all add up its just they do some odd things to get AHFC to buy the loan. FYI this was Goodson Acura in Irving Texas

dammitjim1 · May 2008

The deals aren't nearly as attractive in NY. I got a quote today from Island Acura as follows:

MSRP: $38940
Invoice: $35832
Buy Price: $36032
Money Factor: .1101
Residual: 54%
Down Payment: $2976 +DMV

Monthly Lease Cost: 476

That's a buy price of just $200 over invoice - so considered by itself it might not seem that bad - however, the S. Cal deal has a much lower drive-off cost, buy price and monthly payment. That is a huge difference - does Honda USA structure lease deals that differently from state to state?

williamdean3 · May 2008

are you sure about the trade in differential on a lease in Texas. I have had some problems with Goodson changing numbers up on me and they are saying that trade-in differential as applied to my lease. I also checked with another person at another dealer and they said trade in differential applies to leases. Thanks I appreciate all of your help.

sealbeach · June 2008

Hello All,

Just wanted to share my experience. Yesterday I have leased an Acura TL-Type S with the following payment details:

MSRP 38,940
36 month lease
12K per year

Drive off: $1,000
Monthly: $480 (OC tax inclusive) respectively

skoorb04 · June 2008

I'm leasing a new base TL (no Navi) this week and this is the best quote I have received:

Payment: $385/mo.
Mileage: 3yr./15,000 mile
Down Payment, tax, license, etc...:$3,000
Sale Price: $28,000

I live in Wisconsin and usually better deals are found in IL., but this was from a Wis. dealer. I'm in a bit of a hurry and have been shopping around. Does this seem like a good deal? Thanks.

CarMan@Edmunds · June 2008

Hi boodyup. I haven't crunched the numbers, but you might be able to come close to $400 per month before tax if you were to negotiate an invoice deal minus the dealer cash on an '08 TL. Waiting to get one probably will not make a difference. Acura's lease program is scheduled to run through July 7th. It is possible that it would revise the program before then, but unlikely.

Car_man
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2013 and earlier-Acura TL Lease Questions

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