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2013 and earlier-Acura TL Lease Questions

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Comments

  • acura_tlacura_tl Member Posts: 38
    There are 2 offers for Acura TL on acura.com. One for 2007 and another for 2008 (36 month/10K Miles):

    2007
    MSRP: 34295
    Cap Reduction: 2315
    Monthly: $369 + tax
    Residual: $19891.10 (58%)
    Paid at inception: $3279 (Acquisition fee $595 + Cap Reduction + First month)

    2008
    MSRP: 34395
    Cap Reduction: 2225
    Monthly: $399 + tax
    Residual: $21324.90 (62%)
    Paid at inception: $3219 (Acquisition fee $595 + Cap Reduction + First month)

    Based on the "actual cap cost" mentioned on the offer, I believe the Selling price is as follows:
    2007: 30,317.68
    2008: 33258.22

    This looks like a very basic offer. I am sure the dealers can do better than this.
  • cpa3cpa3 Member Posts: 89
    acura_tl

    Do you know what the current lease rate is on these two leases? You are assuming they are changing the selling rate. Maybe they have discounted the lease rate rather. I can get the first one to calculate out at .001 at retail price. The second one doesn't seem to work though...
  • acura_tlacura_tl Member Posts: 38
    I was able to match the numbers by using the following Money Factors:
    2007: 0.00300
    2008: 0.00247

    I calculated the sale price based on the MSRP, Cap Reduction and the "actual net capitalized cost" mentioned on the offer.
  • acura_tlacura_tl Member Posts: 38
    For 2008 TL:

    MSRP $34,395.00 (includes destination)
    $2,225.00 capitalized cost reduction
    Actual net capitalized cost $31,033.22.

    Based on the above, Selling Price has to be 33,258.22
    (33,258.22 - 2,225.00 = 31,033.22)

    $3,219.00 total due at lease signing ($2,225 Cap Reduction + $595 Acquisition Fee + $399 First Month)
  • cpa3cpa3 Member Posts: 89
    acura-tl

    Do you know that those are the lease rate factors? or are you guessing?
  • acura_tlacura_tl Member Posts: 38
    No, I do not know for sure. These are the rates I get from my calculations to match the values in the offer.
  • cpa3cpa3 Member Posts: 89
    The reason I asked is because typically with dealer offered specials they are assuming you pay the full msrp. Its up to each dealer to make the deal better. Thats why I would assume that the lease rate is actually lower than what you used in your assuption. Try it again assuming the lease rate changes and the cap cost is based upon MSRP less the cap reduction. I am glad to see others on this board have figured out how to calculate the lease payment. I am always amazed at how few people really understand this.
  • acura_tlacura_tl Member Posts: 38
    cpa3,
    Well, "typically" the manufacturer posts lease specials with some discount over the MSRP. Take a look at the lease offers for the following cars (at the company's web sites):
    BMW
    Infinity
    Audi
    You will find that the selling price in all of the offers is lower than the MSRP.

    Also, based on the information provided at acura.com, the only way you can reach the "actual net capitalized cost" of $31,033.22 is if you lower the selling price. Otherwise this figure does not make sense.

    An easier way to solve this mystery would be to go to an Acura dealership and have them print the Dealer disclosure statement for this offer. Has anyone here done that already?
  • nm156nm156 Member Posts: 3
    hi all, i've been reading over this thread but couldn't find a good benchmark for a tl-s lease. i went to the dealer and he said $550 with $3k down for a 36 month lease/12K. This sounds completely unreasonable. what is a reasonable price? will it be different for a 2007?

    thanks
  • cpa3cpa3 Member Posts: 89
    acura tl

    I agree with you on the easiest way to confirm. Looks like they posted a new deal on there for the 2007 that extends through sept. The new capitalized cost after reduction is $28,002.
  • 23109vc23109vc Member Posts: 218
    i agree with you. the TL lease prices are way too high. especially if you look at what you would pay to get an IS350 or a BMW 335. the TL is a great car - but those two would be "better" and you can get them for too close to the TL-S...so close that it just makes sense to pay the marginal increase and get the much better car.

    for me - to make sense, a TL-L lease needs to be more like $400-450/month WITH tax and with NOTHING but minimum drive off...

    if I could get a TL-S with $900-1000 out of pocket and $450/month TOTAL I'd consider it. to pay over $500 - I'll just wait for something better.

    i drove the TL-S and I liked it..but dind't love it. I've driven cars that made me WANT TO BUY them SO BAD.... they just get you excited. The TL struck me as very nice...but not a "Must have" car.
  • nm156nm156 Member Posts: 3
    What would you expect a reasonable price to be for an IS350? The first number I've gotten is $730/mo with $3k down.

    I've asked another Acura dealer and the told me $470/mo with $2.6K down, so at least I'm making progress :D Don't know how much more they'll go down as I didn't push it too much
  • mra321mra321 Member Posts: 4
    I am planning on leasing a TL 07'. The price i got at the dealer...non navi seems too high can anyone give me there opinion.

    I am trading in my car which is worth ~14 K

    $4,000 down
    $390 a month
    36 mnths 10 K...anyone recommend any dealers in long island or any good deals??
  • cpa3cpa3 Member Posts: 89
    CARMAN...do you know the lease rates for the 2007 and 2008 TLs. Is there a special going on now? On their website they are listing one but dont tell the rates.
    Thanks
  • pashanycpashanyc Member Posts: 4
    Hi, signed a car on 31st, just want people's opinion if it's a decent deal.
    2007 TL TypeS
    Sticker: $38,795
    36mo lease /10K
    $2300 total out of pocket.
    $497/mo
    :confuse:
  • 23109vc23109vc Member Posts: 218
    acurazine.com had a guy who said he got a TL-S for $32000 - new.

    i'd hold out for something more along those lines. no offense, but a TL-S is NOT worth 34-38k. it's a glorified accord.

    it's nice....but not THAT nice.

    if you compare the TL to the IS to the 335..the TL comes in last. the FWD sucks. I test drove the TL and the steering wheel was jerking all over.

    i test drove a 335 and it was SOLID and FAST.

    why anyone would lease a TLS when for a minor amount more money you can get a 335 is beyond me.

    i'd rather get a base 335 than the "loaded up" TL-s. i guess if you care more about gizmos in your car than you do about really having a true performance machine, then the TL is great. if you really want to DRIVE..get the 335 and wait until Acura gets their head straight and puts SH-AWD into the TL platform. untilt hey do that, the TL is a big fat waste of money... unless they drop the price to 30k ish..then it's a good deal.
  • mjk5mjk5 Member Posts: 43
    Ok, I don't know where this specific post goes so I might cross post it in two different threads, anyways I've been car shopping for like 3 months since my car is junk (btw how much would a dealership take off for trade in if a leather seat has a hole in it? (bigger) would just buying a seat cover to go over the seat and taking it to dealership for trade in help me get away with it?)

    Anyways I think I've narrowed the choices down to buying a 2007 Accord Coupe EX-L or leasing a 2007 Acura TL, but I'm too indecisive.

    I'm just wondering how much it would probably cost me to buy the EX-L including all taxes and fees? And let's just say I did 36K miles in 3 years, how much could I get for this car? I'm not too thrilled with the accord and even less thrilled considering the 2008's are coming out soon and I don't like the new body style at all.

    Second question regarding the TL, how much could I get the total lease cost too? I went to one acura dealership and he got me down to a bit over $17k which includes all taxes and fees. Could I get it any lower? I love the TL but am pretty cheap and kind of made the reasoning in my head that if I buy a car for $25k total cost, have it for 3 years then sell it for $10K It would come out the same to justify leasing it, but obviously I'd probably get more for the car if I sold it (don't know how much more) and probably can't lease a TL for that little (or can I?) So just wondering what the price difference would be between leasing a TL and buying an Accord assuming I do 36k miles on the accord and sell it in 3 years?

    Last thing, are they picky with the damage to the car after 3 years? I mean the dealer told me they waive the first $1.5k in damage, but would they charge you for every little scuff mark on a rim, little rock indent from driving on higway, etc?

    Thanks
  • cpa3cpa3 Member Posts: 89
    Interesting question, I am considering the exact same thing. Here is what I found. I live in OC Ca. There are Honda dealers here that will lease you a Accord V6 or 4 EXL for $240 plus sales tax a month. this is with no money out of pocket or down. Just first payment and license. I figure also here I can lease a 2007 TL no Navi, no out of pocket except first pmt and license for $370 per month plus sales tax. Both are 12K miles per year 36 months. The accord is tempting however I agree with you.
    I am trying to get some info on the TL lease rates before I finally decide what to do. I am leaning towards the TL.
  • scottm123scottm123 Member Posts: 1,501
    Leasing a BMW is certainly cheaper than buying one, as that's what BMW prefers.
    Comparing a BMW 335 to a TL is tricky though.

    I would never buy a BMW. I like to keep my cars for more than just a few years and owning a money pit like that would put someone like me in the poor house.
    Leasing is definitely the way to go on any BMW.
    You get free maintenance (also when you buy) for 4 years and you're usually out of the lease before the warranty is up.
    BMW and reliability and 2 words seldom seen within the same sentence.

    The TL is fantastic car. I've owned Hondas and Acuras and both are absolutely bullet proof. Yes, there are minor annoyances, like squeaks and that damn subwoofer in my MDX :mad: , but they are awesome cars and built to last for decades... yes, decades with little or no repair.

    The BMW 335 is faster, yes, but what good is a car that passes everything but a repair shop?
  • mjk5mjk5 Member Posts: 43
    $370 for 36 months with nothing down for a lease on a TL? No way are you getting a TL that cheap IMO, I went to two dealers, one had 4 2007s left and wouldn't go lower than 17k for the cost of the entire lease while the other only had 2008s and said 19
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nring. It is a good idea to understand how leasing works before entering into negotiations with dealers The following informative articles that are available here at Edmunds.com will help you out: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible and then have the dealer calculate your monthly payment using its buy rate lease money factor. Honda Finance's current buy rate for a 36 month lease of a 2008 Acura TL is .00247 for consumers who qualify for its "Super Preferred" credit tier.

    I would be happy to estimate what the lease payment should be like for the exact car that you are interested in for you if you provide me with its MSRP and approximate selling price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi karolinatx. You never mentioned the selling price or MSRP of the TL that you are interested in leasing. 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 this what car's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi civilguy2857. I have not seen the dealer invoice price for the 2008 Acura TL yet, but I suspect that it probably has a spread of around $2,750 between its full MSRP and its dealer invoice price. You are being given a $1,600 discount on this car. This is probably equivalent to around $1,150 or so over invoice, which isn't bad. I'm not sure what the market is like for Acuras in Wisconsin, but I would advise consumers who are in areas that have a high level of competition to shoot for $500 to $750 over invoice and see what happens. Whatever price you agree to, make sure that the dealer you are working with uses Honda Finance's current buy rate lease money factor of .00247 (for Super Preferred tier customers) to calculate your monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi thebrad. Manufacturers' advertised leases usually leave a little meat on the bone so to speak. I would not be surprised if consumers who are in areas that have a decent level of competition were able to beat this advertised lease. Shop around a little bit and shoot for a selling price of $2,000 under dealer invoice (this is equivalent to $500 over once the $2,500 dealer cash that is available on leases of this car is taken into account). Once you arrive at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using Honda Finance's buy rate lease money factor. Its current buy rate for a 36 month lease of the '07 TL is .00290 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cpa3. In late July, Acura introduced a special lease program on the 2008 TL. It is no longer providing a special money factor on the '07 model, but it does have a total of $2,500 dealer cash that can be used to reduce the capitalized cost on leases of it through Honda Finance.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new TL, rju103. Make sure to stop by the new Dealer Ratings & Reviews section of this site to share your thoughts on your dealer experience. Enjoy your new ride!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey idc1124. Unfortunately, Acura is not running any sort of early lease termination program that I am aware of. It will probably be fairly expensive for you to get out of your current TL lease two years before its scheduled end.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sayer17. The dealer invoice price of a 2007 Acura TL is $33,807. When one backs out the $2,500 dealer cash that is available on leases of this car we arrive at $31,307, which is the exact price that you were quoted. A selling price of dealer invoice minus the available incentives is very attractive. Plus the dealer that you are working with used Honda Finance's buy rate lease money factor to calculate your monthly payment. If you like the car, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey acura_tl. The money factors that you calculated are right on the money. I'm impressed :shades: .

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nm156. I would be happy to estimate what it would cost to lease the TL-S that you are interested in. Let's work up a sample lease payment on a 2007 TL-S and see what we come up with. For now I will assume a selling price of $500 over dealer invoice minus the $2,500 available dealer cash. According to my calculations, if you were to lease a 2007 Acura TL-S with an automatic transmission but without the high performance tires that has an MSRP of $38,795 and a selling price of $33,638 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $502, assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mra321. Let me begin by saying that $4,000 is way too much money to put down when leasing. I always advise consumers not to make large down payments on leased vehicles. Those who make them risk losing all or part of them if their vehicle is totaled in an accident or stolen and never recovered. You can and should lease any vehicle that you want without making any sort of capitalized cost reduction.

    You never mentioned the selling price or MSRP of the TL that you are interested in leasing. 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 this what car's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey cpa3. I would be happy to give you an idea of what Acura's current lease program for these cars is like. You never mentioned how long you want to lease them for or what mileage allowance you need, 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 2008 Acura TL without navigation with 12,000 miles per year are .00247 and 61%, respectively for consumers who qualify for its "Super Preferred" credit tier. The numbers for an otherwise identical lease of an '07 model are .00290 and 57%. As you can see, Acura is no longer providing lease money factor support on the '07 TL. It is providing a total cash incentive of $2,500 on leases of it through Honda Finance though that can be used to lower the capitalized cost.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mjk5. This particular discussion is for consumers to discuss leasing the Acura TL. I would be happy to give you an idea of how much it would cost to lease the Honda Accord that you are interested in if you stop by the "Honda Accord: Lease Questions" discussion.

    Let's see how much it would cost to lease the TL that you are interested in right now. According to my calculations, if you were to lease a 2007 Acura TL without navigation that has an MSRP of $34,295 and a selling price of $29,517 (dealer invoice - $2,500 dealer cash + $500) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $420.

    I have found Honda Finance to be very lenient when evaluating the condition of vehicles at lease-end.

    Car_man
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  • nringnring Member Posts: 97
    Car_Man

    Than you. What is Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura TL WITH navigation with 12,000 miles per year for folks who qualify for its "Super Preferred" credit tier? Thank you.

    Thanks,

    Noah
    AskNoah@icloud.com

  • nringnring Member Posts: 97
    CPA3..we chatted before...i need to make a purchase soon. i just need to know the invoice price of a 2008 TL with Nav..the rest is easy to figure out via a lease...do you have this number?

    Thanks,

    Noah
    AskNoah@icloud.com

  • nringnring Member Posts: 97
    Car_Man or anyone...do we know what a 2008 TL with NAV invoice price is? Can i get the 2500 off the invoice? I have the MSRP but can't seem to find the true invoice price for a black on black with NAV 2008 TL. I want to lease 36 mo/ 12K miles, with tier 1 credit and nothing down. i live in bucks county pa with a 9% lease tax...I just need a good lease price per month including tax to shoot for..thanks anyone.

    Thanks,

    Noah
    AskNoah@icloud.com

  • acura_tlacura_tl Member Posts: 38
    Thanks.
  • cpa3cpa3 Member Posts: 89
    nring,

    Sorry I dont know it...I checked on Kelley Blue Book.com and its not there yet. The 2008 is there just no invoice price.

    I think next week I am going to try my email request to the three local dealers (within 15 miles) to see what kind of lease I can get on a 2007 TL w or w/o Nav...My goal is $350 per month (plus sales tax) with zero drive offs (only 1st pmt and license). I will keep you posted on what I get. Current lease rates aren't that good, however with the $2500 allowance for the bad rates on the 2007 it might be doable. At least thats what one dealer told me last week when I was on vacation and he called me. I love being in the drivers seat and not pressured to buy a car. I enjoy the shopping part of it more than getting the car. My wife thinks I am nuts.
  • mjk5mjk5 Member Posts: 43
    I just received this quote on a lease for a 2007 TL, this is a "special" I'm just wondering how much lower could I get them to go?

    2007 TL LEASE SPECIAL

    $369 PER MONTH FOR 36 MONTHS

    $2225 DOWN

    NO SECURITY DEPOSIT

    Due at inception $3189 (includes first payment, acquisition fee, and capitalized cost reduction). Tax, title, registration and license fees addtional. Subject to primary lenders approval. Tier 1 credit. 10,000 miles per year. Offer expires September 4, 2007.
  • ixjunitxiixjunitxi Member Posts: 7
    Hey for anyone looking for any kind of benchmark on the Tl type S this is what I am being quoted by an Acura dealer in NJ.
    2500 total out of pocket =475/mo with taxes
    3000 total out of pocket =460/mo with taxes
    36 months
    12,000 miles a year
    I don't know what the selling price is but i do know he said it was an invoice deal. I am going to get more info from the dealer before i sign this lease . However, i did just find out there is a 2500 cash to dealer incentive on the Tl's so im going to try and lower my payment through that.

    Does anyone know the august lease rates on the TL i cant seem to find them.
    Thanks
  • cpa3cpa3 Member Posts: 89
    The rates I got the other day were .00275 for the TL w/o Navi, and .003 with Navi...Residual is 57% for 12K miles. This is for 2007. The lease rates are the same for 07 & 08, but I believe the residual is different. Also I believe the $2500 is for if you lease to reduce the lease payment due to the high lease rate.
  • sportster1sportster1 Member Posts: 3
    This forum has really helped me, so figure I'd just put in my offer I received from a Boston Area dealer

    07 TL TYPE-S
    MSRP 38795
    36 Months / 10,000 mi/yr
    out of pocket 3200 (cap cost,document fees)
    residual 21,725
    mf .00300
    payment = 429.88
  • ratboy78ratboy78 Member Posts: 2
    How much dealer cash is available on the 07 and 08 TL? Thanks.
  • cpa3cpa3 Member Posts: 89
    Here is my deal. I love the car. Its really fantastic.
    07 TL With Navi - So Calif.
    SP: $30,677
    Lease Rate: .00275
    Term: 48 Months
    Miles: 12K year
    Residual rate: 46% = $16,926
    Monthly Pmt: $408.74 plus $31.67 sales tax = $440.41
    Cap Cost: $30,310
    Drive Off: $1800 = includes $440.43 lease pmt, $265 Registration, $595 Honda Lease Fee, $131.85 Sale Tax & Other Fees, $367 Cap Reduction.

    I was told they lost money on this deal. My recommendation is hold out until you get your price. Do all your homework before you go. Bring your comps and worksheets with you and share them with them. Once they see you understand the deal and how leasing works they become more open and honest with the facts. You can see they sold me this car at less then cost less the $2500 Honda Supplement is offering now.
  • krasavchegkrasavcheg Member Posts: 1
    what state you are in?
  • oc2020oc2020 Member Posts: 14
    Here is what I got from a So. Cal dealer:

    07 Tl type S
    Selling price $32,600
    money factor-0.0026
    Term:42 months
    miles-15k
    residual-48% $18,621
    $3000 down
    payment-$457 includes tax

    Does this sound like a good deal? This is the best I could get after ALOT of haggling. The only think I was concerned about is the 3K down. I think it shold be more like $1500
  • cpa3cpa3 Member Posts: 89
    oc2020

    I think you got a good deal. Your price was pretty close to mine considering the differences. Mine also took a lot of haggling. Although you paid more down than I did the S costs the dealer about $1831 more. Your monthly payment is about $18 higher than mine, your interest rate is slightly lower, and term is shorter. They are very close deals from the sellers perspective. I spent serveral phone conversations at the dealer, went down to test drive the vehicle and we couldn't agree on my price so I left. Next morning they called me at work and said they wanted another shot at it. A few more negotiations on the phone and we agreed. Went down that night after work and got it. I was convinced after all their rebates and incentives they lost about $230 on my car. They said they just needed to get them off their lot. Also their 2008 allotment is based on what they sell for 2007.

    It is really a fantastic car. I am sure others will agree.
  • oc2020oc2020 Member Posts: 14
    What dealership did you go to? I haven't bought mine yet.
  • planomanplanoman Member Posts: 12
    I am looking for leasing a 2008 Acura TL/with Navigation in Texas. What would be the selling price, residual value, and money factor for a 36 month lease, 15,000 miles per year. Acura is running a lease special for $399 per month, 10,000 miles per year special now.
  • mjk5mjk5 Member Posts: 43
    I really want to lease a TL, but the 328 seems like a better value, can someone tell me why a car with a lower MSRP (Acura TL) costs more to lease than the 328i?
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