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2013 and earlier-Acura TL Lease Questions
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I have a 07 TL-S with 3 payments left. As well, Acura will take back the car, at their request without no penalty or neg equity. (this means to me I qualify for the advertised lease rates). They offered $1500 in incentives for current TL to new TL leases. $0 at signing.
I'm waiting on the numbers... but I'm expecting to be in the high $300s when it's all said and done. Base TL.
Thanks,
Noah
AskNoah@icloud.com
2007 TL-S turn in 3 months early, qualified for the pull ahead program.
$1500 incentives for TL-TL lease.
3 year Lease, 10k miles/yr. Roll over miles.
TL BASE $359/mo + 6.5% tax = $382/mo
TL SHAWD $416/mo + 6.5% tax = $443/mo
$1378 Due at signing ($699 Dealer fee, $595 Acquisition Fee, 6.5% tax on fees)
Tags will be extra (about $150-200 in FL) payed directly to DMV
First Payment waived (or paid by dealer),,, 35 payments only.
Still trying to decide which car I want: AWD or Base... $61/mo difference.
Your deal seems good. Your MSRP is $180 more than the SH-AWD and your tax is 2.5% more too... thus your $449/mo payment is a bit more than my $443. Seems correct. Each state is different with fees, but my $1378 at signing does not include tags (up to $200). Your does. Seems like you have a good deal.
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Acura's September buy rate lease money factor and residual value for a 36 month lease of a 2010 TL Tech with 10,000 miles per year in Florida are .00134 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and go with a nothing due at signing lease.
Car_man
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If I was in the market for this car right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the $2,250 dealer cash that is available on it right now.
Car_man
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Acura is not providing any lease support on the 2011 TL yet, so if you were to lease one right now you would have to use its standard lease money factor. I believe that Acura's current buy rate standard factor for 36 month leases is .00190 for consumers who qualify for its top credit tier. Its 36 month, 15k residual value for an '1 TL AWD with Tech is 54%.
If you were to lease either of these cars with only 12,000 miles per year, their residual values would be 2% higher.
When negotiating your deal, make sure to take advantage of the $2,250 dealer cash that is available on the 2010 model.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
MSRP: 44,245
Actual Price: 38, 476
Money Factor = .00144
Lease Term: 36 Mos, 15K Miles Per Year
Residual = 49%
I don't have the details yet of what additional fees I am being shoved...but the Sales Manager said that:
Down Payment of: $6000 (would include all fees, taxes, and first month)
Monthly PMT = $450
Dealer is trying to push me into a demo with $10K miles for that price, but I was quoted by another dealer the same purchase price for one with "0" miles.
What do you guys think the price should be given the # of miles? Or should I just the hell with it and go for one with no miles (or minimal)...and is that negotiated price good? What about the residual and Money Factor. Would appreciate quick feedback as I would like to lock things in tomorrow before the end of the incentives.
Thanks
Edit: I just looked at the quote from the other dealer and the 44, 245 is for a more expensive TL, one the has HPT (whatever that is....bout to find out), so I know I am not getting a great deal (at least by $1K).
2010 TL SHAWD, TECH
Price Paid: $37500 (will pick up next week)
MF: .00144 (I didn't bicker about the .00134 as it worked out to a $5 per mo diff...)
15K Miles Per, 3 Year Lease
Cash Due at Signing: $6K (Includes Tags, Bank Fee, and Taxes)
Per MO PMT: $384.00
roughly $1000 down = $35 per month.... thus 6K= $210.
So you would pay 384 + 210= 594/mo for that car? It's too much.
that's my opinion. calculate with minimal down.
No one is selling this car for less than $37,500. The math is the math...you either pay up front with a good down payment for a lower per month payment, or I can take the car with no money down for $599 per month...
Residual is going to be alot less than for a 10K per year lease, as mine is for 15K miles per year.
So has anyone done better with the same equipment/options ( 2010 TL, SH AWD TECH, 15K Miles Per year)?
2010 TL TECH with 18" Wheels. Sticker $40650. Use this price as a comparable.
$800 at signing (including all taxes, Title, Tags and first payment)
10K miles/Yr, 36 months. payment $449/mo FL taxes included (6.5%)
I hope you do betterfor your car. Gap insurance is included in that price... but I still think you could lose your 6K if you need a replacement...
And correct me if I'm wrong...
You buy a $44K car without GAP insurance. You also pay for Comprehensive insurance.
You put down $6K and finance the rest ($38K).
One year later, your car is stolen and never recovered. Your insurance company says the the car is worth $36K and give you a check for 36K. Your account balance is $37K. You still owe $1K to Acura. However, Acura's Gap insurance would have covered you for the extra $1K. Now luckily, Acura has GAP insurance included, thus you owe nothing to Acura.
But now you want the same car from Acura, it's $44K new. You have $0 If you want the same car, you'll have to give $6K again. That my understanding of down payments with Leases. I could be wrong. Opinions?
I will check with my insurance company tomorrow to discuss this too.
So I guess first thing I need to know....put aside the down payment amount, is my negotiated price too high still? If not, then I could go with a lower per year mileage (10 to 12K) to end up with a higher residual (aka lower payment). I can then stash the down payment in a safe security to use either towards the payoff -- if I choose to keep the car or pay for the over mileage.
What is considered the norm...or better yet the smarter investment, 10K per (for the highest residual), or play it safe with the 12K per?
Thanks, this is a very helpful and informative forum
Thanks,
Noah
AskNoah@icloud.com
1) Are there any differences at all between the 2010 and 2011 base TLs ? As best I can see they are the identical car.
2) Edmunds TMV pricing for the base TL in my zip code is $32,642. Does this number reflect the $1750 incentive or should I subtract $1750 from it to get the TMV price?
3) Can anyone tell me the October 2010 residual and money factor on a 2010 Base TL in northern California?
4) Acura is offering a lease offer of $349 a month on a 2010 Base which includes 10,000 miles. Does anyone know how much the monthly payment goes up if I want 15,000 miles?
Thanks for any advice.
dealer:
"I hope I can gain your business. I know your shopping price. My manager is giving you a great deal. MSRPof the FWD Tech TL is $39,695. Money factory is.00144, Residual is 53%, Invoice is $37128.70, Sale price is $33,128.70. I'd like to put this deal together ASAP. Please call me"
This is for 36 months- 12K miles a year- I am puting nothing down on the vehicle. and I live in PA (9%) tax on lease. I curently have a 2008 TL navi with 33K miles and is up in dec so I will be 1K miles below the 36 and it is in good condition. Can you let me know if the numbers below are good and what my lease payment would be with tax (9%)
Also, they did not quote any inception costs or out of pocket. Do you know or anyone know what is acceptable? Is it possible for zero down and drive and sign?
If not,what out of pocket fees are legit here and not. I am NOT putting anyting down on this car lase. it seems customary, aquisition fee= $595, tax on aquisition fee at 9% for pa= 53.55, tags and title= 124.50, doc fee= 189.00, and first month pament.
Thanks,
Noah
AskNoah@icloud.com
Thanks,
Noah
AskNoah@icloud.com
If you punch all the numbers into this calculator, http://www.leaseguide.com/calc.htm
you get the monthly payment they are offering you. So thats good, no BS on their part.
If you add up all the initial fees ( aquisition fee= $595, tax on aquisition fee at 9% for pa= 53.55, tags and title= 124.50, doc fee= 189.00, and first month pament) then you get pretty close to $1500.
Overall, I think it is a pretty good deal. You can try to squeeze them a little more but you do have a good deal here.
What color combo did you get?
Acura's October buy rate lease money factor and residual value for a 36 month lease of a 2010 base TL with 15,000 miles per year in California are .00107 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
In your case, $3K down should equal approx. $2.2K capital deduction (money down to lower balance). With a basic formula that $1K down lowers the payment approx. $30/mo you should be reducing your cost at least $72 from standard pricing. If you go by my monthly payment of $449, reduce $72 and you are at $377.
Now I didn't get the absolute best deal, but I am very happy with it. I qualified for the $1500 TL to TL lease incentive, which I understand some locations to be announcing $1750.
$360/mo doesn't sound bad to me, but keep shopping around to make sure. Good Luck
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Typically what happens is that the car value will fall faster than you are making payments on it.
So say that your car is now worth $25,000 (determined by the insurance company) but you still owe $26,000 to Acura. Your insurance will give you $25,000 to give to Acura. Then Acura's GAP insurance will add in the $1,000 to make Acura Financial whole. That's it, Acura is happy, your insurance is happy but you are left with no car. You must go back to the dealer to buy a new car. So all the money you put into the car is gone.
Now if the car value is more than what you owe to Acura, then you will pocket the cash left over after paying Acura Financial. However, I think the odds of the car being worth more than what you need to pay Acura are low.
Can you let me know what the current money factor and residual is for a:
Base 2010 TL, 36 month 10,000 miles per year in Maryland
Also, is Acura still offering loyalty cash for current TL lease customers? I remember seeing something about $1,500 it a few months ago, but cannot find any current indication.
Thanks
Do you know the lease numbers I should expect on a base tl in California with 15k miles? When does the cash back end?
Thank you so much
I believe that Acura is still providing loyalty cash on the TL for current lessees whose leases are scheduled to expire before the end of November.
Car_man
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The $2,500 dealer cash that Acura is providing on the base '10 TL is scheduled to run through the end of the month, but I would be very surprised if it wasn't extended.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Couple more questions for the group:
1) Is truecar.com an accurate representation of what people are really paying? It states the average paid for a base TL in california is $32,418. Seems pretty fair to me.
2) They state there is a dealer in my area that will guarantee a price of $31,633, but I have to enter my info for them to contact me. Is Truecar a good site to use? Or has anyone else seen a better internet shopping site I should go through?
3) Using Car_man's numbers am I calculating the correct monthly price based on truecar.com:
MSRP:35965
Negotiated price: $31633
Sales Tax: 8.750
Term 36 months
Residual 15k : 54%
Money Factor : .00107
Payment (using my iphone app) : $428
$428 out the door with 15k miles including tax seems like a pretty good deal to me. Any feedback is much appreciated!
because I have one more $500 month payment on my lease he is going to lower the monthly to $412.
One thing that is strange is I notice the advertised lease special has dropped from $430/month to $410/month on their website. I wonder why that is...
I am in LA and I got a TL+Tech about 4 months ago. I found Truecar to be very good. Go back to truecar and price the car again. Then click the "recent sales" tab. That info is even better. You can see that in the past 90 days a few Base TLs were sold for ~$30,400. I would aim at that number.
When I was getting my TL I negotiated with Center Acura on Van Nuys and Glendale Acura. Both offered competitive numbers. I got the TL+Tech for $33,000, which is actually even lower than what Truecar has.
I am glad to see that you have the calculations already done. Now put in $30,400 and use the same residual and MF you got. Then e-mail the internet sales managers at the dealerships with your number. Provide all the math like you have in your post. Ask them if they can make that deal happen.
Another good online calculator is: http://www.leaseguide.com/calc.htm
good luck!
I was offered to move up from my 2008 TL lease two months early into a 2010 complete with tech and ugly beak. No money out of pocket and $454 a month for 12,000 miles or $475 for 15,000. My last lease was for 18,000/year which I do actually drive but I was talked into going for lower miles to drop my monthly payment and because I was also told I could get out of this lease early and renegotiate a new lease for a 2012 next fall. I was also told not to worry too much about mileage due to Acura mileage forgiveness especially if I wanted to get into a 2012.
What do you think? I guess i have to make a decision today to take advantage of the current program.