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2013 and earlier-Acura TL Lease Questions
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Is 30,700+destination the best price i can get on this right now, with the 1k manufacterer to dealer program. I see some people posting 30,800 - is that including destination?
Also, could someone give me a quick breakdown of the numbers for the monthly payment with 30,700+destination in a 36 month lease? - I'm terrible at figuring leases out. Sales tax in my state is 6%. I'm told Bank fees are 595.
Thanks.
MSRP: $33,995
Selling Price: $28,995
Lease via HANN:
Upfront Costs: $1,242 (Bank Fee, MV/DOC Fee, Tire Fee)
Monthly Cost: $414 (10k miles)
Money Factor / Res: .00275 / 67%
(Hann lease is for 32 months, and has a $450 deposition fee)
Lease via AHFC:
Upfront Costs: $1,242 (Bank Fee, MV/DOC fee, Tire Fee)
Monthly Cost: $450 (10k miles) / $460 (12k miles)
Money Factor / Res: .00283 (.00293 for 12k) / 56%
(AHFC has the $1,500 damamge waiver, and $0 deposition fee).
What are your thoughts on the lease packages proposed? Is there more room for negotiation?
msrp 35,995 destination charges included
30,490 destination charges included
67% resid. value
.00293 MF
payment was around 490.tax included...tax in cali 8.25%
no money out of pocket
does this seem right? they were trying to get me at .00299MF.......can someone tell me if the money factor is right....i really wanted to buy it today
Thank you guys!
You helped me out about 3 years ago when I had a lease vs. buy dilemma (I was steeler_fan then) and it was very much appreciated. I wanted to see if I could enlist your expert assistance once again. I'm considering a 2006 TL/Navi, and I'm looking to lease 36, 39 or 42 months at 15K/year. I made an offer of 32,300+TTL and it was accepted. I'm looking to lease through AHFC and I wanted to see what the numbers look like. I'm in the Dayton, OH area. Thanks!!
Here is what my dealer is offering my on a 2006 Acura TL with Nav.
36 months/10K mile lease
msrp 35,950 destination charges included
Negotiated price = 31,000 destination charges included
58% resid , .00293 MF
payment is was around 484.tax included...cali tax is 8.25%
Local dealers are telling me that this is the best I can get for the 2006 TL since Acura is doing a 1000$ rebate which may go away anytime. Is that true?
Thanks
Acura of South Florida - the internet manager responded to my email by stating "all quotes are by phone to avoid confusion". :confuse: Really!!
Ed Morse Acura - got a price on an auto non Nav of 30495 but couldn't get a lease quote
Rick Case - 457/mo plus tax,10K 36 mo 1286 due, purchase price of 30,500 59% .00293. Could have done better at dealership but getting a hold of salesman and pinning him down was difficult.
Palm Beach Acura - very straightforward and professional, the internet manager was not going to let the deal get away. Ended up purchasing (I'll post on other board this weekend) but final deal, mainly on internet but completed on phone was 450/mo tax included, 36/12K - $700 due. Main thing was that the manager was responsive to my requests. Forwarded this to Rick Case and they let it walk. Don't know if there might have been additional surprises but unlikely as the purchase was smooth as silk. This was last month and residual has gone down this month.
Nice car, good deal, everyone's happy. But doing things over the phone to avoid confusion - now THAT'S a line that all internet car shoppers can really appreciate!
Miles per year: 12,000
Price: $31,500
Trade: $7,500
Payoff: $6,600 (approx.)
Doc Fee: $57.33
Taxes: $1625.56
License and Title: $168.00
Money Factor: .00293
Residual: .55
Payment: $568.38
The issue is, if you use his MF and Residual I get $506 a month. See here is my math:
35,853 (MSRP) * .55 (RESIDUAL) = $19,719.15
$31,500 + $57.33 + $1625.56 + $168.00 = $33,350.89 - 900 (value in trade) = $32,450.89 (CAP COST)
$19,719.15 + $32,450.89 = $52,170.04 * .00293 = $152.85 (monthly cost of $$)
$32,450.89 - $19,719.15 = 12,731.74/36 = $353.65 (monthly cost of depreciation)
Payment = $152.85 + $353.65 = $506.59
SO SOMEONE PLEASE TELL ME, am I calculating it right?
Regards,
Jason
24 Month Lease
$399 per month, 10k per year for base TL
Money factor .00136 which equals approx 3.2%
$1005 down payment
----------------------------------------------
I have confirmed that this is in fact an AHFC lease program. What I wanted to do was this:
Take the money factor and incorporate it into an '06 TL NAV 5AT with 12k per year lease.
Here's what I came up with:
Nothing down (zero, just tags, title) so our of pocket would be first month plus a few hundred.
I was told that the lease would be approx. $560 per month for two years, everything wrapped in (taxes,bank fee, etc).
Residual is 64%
I was hoping for better as the money factor sure beats the .00283 or .00293 that has been quoted here. However, the shorter time period takes away from that. I was also told that the 1k incentive does not apply here. If that were the case, this car would be in the $500 range for two years. Not a bad deal at all. So, this car continues to be a terrible car to lease.
If you haven't leased yet you may be interested in the fact that Acura just introduced a special 24 month lease program on this model in select states for the month of September. This is the first time in a long time that I recall seeing any special money factors on this car. If you tell me what state you are in I would be happy to tell you if it is one of the ones that this special program is available in.
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If you haven't leased yet you may be interested in the fact that Acura just introduced a special 24 month lease program on this model in select states for the month of September. This is the first time in a long time that I recall seeing any special money factors on this car. If you tell me what state you are in I would be happy to tell you if it is one of the ones that this special program is available in.
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If you haven't leased yet you may be interested in the fact that Acura just introduced a special 24 month lease program on this model in select states for the month of September. This is the first time in a long time that I recall seeing any special money factors on this car. If you tell me what state you are in I would be happy to tell you if it is one of the ones that this special program is available in.
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I would be happy to estimate what this car's monthly payment should be for you. I assume that this car's full MSRP is the typical $35,995 that an '06 TL with navigation and an automatic transmission would cost. Using this MSRP and a selling price of $30,700, I estimate that this car's 36 month, 12,000 mile per year, zero down, pre-tax monthly payment should be around $437, assuming that you qualify for Honda Finance's "Super Preferred" credit tier and pay a security deposit at lease signing.
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If I was in the market for this car, I personally would take advantage of the special 24 month lease program that Honda Finance just introduced on the 2006 TL. This program is only available in certain states, but New Jersey is one of them. Through this new special, Honda Finance's buy rate lease money factor is cut to .00136.
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Can you confirm that the $1k incentive on the TL is NOT available with the 24 month lease? Two dealers have told me that this is so. If it is, I'd imagine that getting a TL NAV would be very attractive. I have been told that the special money factor is in lieu of the 1k and most dealers are trying to sell the car at invoice or slightly above. Thanks
jms8090
I am in RI. Still haven't made the purchase. Thanks.
The Big Nasty.
Also -- I was interested in what the money factor/residual would be for 24 months and 12,000 miles - I'm in Philadelphia ... And what about the 1K incentive ?
Thanks !!!
The selling price that you were quoted for this car is very attractive and the money factor that you were quoted is right in line with Honda Finance's current buy rate for it for consumers who qualify for its "Super Preferred" credit tier and have their security deposit waived. If you like the car, I personally do not see any reason not to pull the trigger on this deal.
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Let's work up a lease payment on this car to compare to the one that you were quoted by the dealer. According to my calculations, if you were to lease a 2006 Acura TL without navigation with an MSRP of $35,853 and a selling price of $31,500 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $478. With the $57.33 doc fee, $1,625.56 in taxes, and $168.00 for license and title added to your car's cap cost, the payment jumps to around $534. If you were to use the $900 in equity that you have in your trade as a down payment, which as I mentioned earlier I advise against, it would drop this car's payment to around $507.
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However, I heard back from the dealer and he said his manager explained to him how the lease payment is calculated and that his manager would call me to explain why I (and you) came up with ~$507 and he came up with $568 a month. This sounds like a bunch of bull...
Question for the group...are residuals (in this case 55%) always calculated against the MSRP or the price paid minus incentives? What is the actual practice?
Jason
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I called another Acura dealer in Chicago giving him a chance to beat the price of the car I have at anohter (TL with NAV, MSRP $35,853) $32,500 (no incentive cash). The dealer told me he has a better deal after being very interested in what the other dealer calculted the payment to be. He basically said I could get the same car for $570 a month on a 24 month 12K 0 down lease. THIS SOUNDS OUTRAGEOUS. If I do the math, the payment on a 24 month with a 66% redsidual and .00136 MF with all taxes and fees rolled in would be like $485. What gives?
Are there fees I am missing? Can someone verify my math?
Thanks again for everyone's help,
Jason
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If you read some of my posts earlier in the month, I was trying for the same thing: 2006 TL NAV 12k per year, 0 down. I came up with $560 per month in NY. Here's the deal though: Your residual is off by 2 points. I was quoted 64% residual. This may account for the differnce in your lease. Those numbers are not that far off (570). This is a short term lease, so your only options are to wait it out and try for the car at a lower price (to get dealer into their holdback). If they would sell you the car for 31,800, which is is a profit of zero, I still think that your payment would be in the $520 per month area. This is not a bad deal considering it's only 24 months.
No kidding...
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Can you clarify Acura's current lease promotion? I'm looking for a 2006 TL 5AT w/nav in the Northern Massachusetts area. Several posts give conflicting info. How many miles are allowed in their 24 month promo? Post 429 says 10k/year, post 438 says 15k.
Looking for best deal with $0 down. Would go with 24 or 36 month, whichever is better deal. Also - does Mass tax entire car or just the payments?
Any help is appreciated. Thanks.
I haven't looked at this post for a while, so I don't know if Acura's current res. value and money factor make this deal attractive or not.
Thanks in advance,
Gregg
Sounds like a Hann lease, not from American Honda Financial. Keep in mind that MANY of the salespeople I've spoken to tell me that Hann is very tough when you return your car and that they really try to hit you with fees for minor scratches, etc. You might be better off going for the 24 month deal that is currently available from AHFC. I bet it would not come out to much more and you can return the car much earlier. Also, the money factor is going to be less on the 24 month lease. Good luck.
Looking at the TL and a BMW 2003 530i CPO... Tough choice but today i'm edging more toward the TL. Peace of mind is important, although the appeal of the 5 series is indelible.
Anyway, can you tell me what are the current parameters (resids, MF) for 36 & 48 month leases through Honda Finance? I'm in Southern California.
Also, do you prefer one term over the other? Why?
Thanks a bunch