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Prices Paid: Buying & Leasing Experiences Acura RL Lease Questions
264 messages, Last post on Nov 05, 2009 at 3:12 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Thanks, car_man. It seems leasing a used Acura isn't so promising. Two NJ dealers said they wouldn't do it, even though AHFC said they would provide lease financing on good used cars. Now, is there any lease programs up or coming on new RL's, or TL's? What residual and money factor would you expect on a new RL or TL, based on 36 months and 12,000 miles per year?
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Replying to: jaybee85 (Nov 02, 2007 9:48 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Nov 05, 2007 2:23 am) |
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| I have owned many Lexus automobiles and never owned an Acura. I don't want to spend $70,000 for a 460 and my wife doesn't like the next model down. I am considering a gs 350 or a RL. Your thoughts would be appreciated!! | |
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I too own an 04 Lexus RX 330. Since my wife has purchased a Honda Pilot I will next year sell my Lexus. Now, I also have driven an RL and a GS 350. I loved the acceleration of the GS, however, I cannot stand the small ness of the interior. I would hate to be in an accident in the GS. And I too do not want to spend 60-70 K for the big Lexus. I really think in about Feb with the rain ect, I'll buy an RL. I really think Lexus is making a mistake by going to smaller cars. Good luck to all and stay safe. jensad |
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Here's the deal I have been offered: 2008 RL Tech Package, based on $4000 discount off of MSRP, $775.18 per month  18,000 miles per year/36 months, $1261.34 due at lease signing. This looks considerably higher that what I am seeing on this board. What am I missing? |
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Hi, Car Man and others! You kindly helped me 2 1/2 years ago when I leased a 2005 RL. It has been my first car lease. I am starting to think about my options for the end of the lease and have some questions, especially since Acura sent me a postcard asking me about my plans wrt continuing the lease, buying the car, or turning it in. First, is there an online resource that I should be reviewing which provides general info on end-of-lease options? Second, the residual of $28.3k (3 years 15k/yr.) seems to be in line with retail for this model (low 30's now), so buying would be a wash, right? Third, what happens if I continue the lease? Is it month-to-month, or do I have to sign up for a specific period of time, or is it all negotiable? Also, would it typically be for the same monthly payment I am doing now, or is it negotiable or set some other way? One consideration is that I have interrupted my career to write a book, and so I doubt my credit report (with no annual income!) will be warm and fuzzy - it might be difficult to qualify for any financing - shall I assume they perform another credit check? A second consideration is that there is several hundred dollars of body work needed beyond what I can imagine they will allow upon returning the vehicle. Should I take care of it now, wait until the return inspection and then do something, or otherwise take it into consideration when deciding upon my purchase, lease extension, or return of the vehicle. Thanks for your patience in answering all these questions, and for your past help!!
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Replying to: vista (Nov 28, 2007 10:09 am)
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Replying to: vista (Nov 28, 2007 10:09 am) In order to determine whether you should purchase your RL at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your car or truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking. As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". If you have enjoyed driving your RL, have not been in an accidents in it, and its purchase option price is in line with its current market value, you may want to consider buying your car. I am not sure what Honda Finance's policy is on the extension of leases. Some banks will let lessees go month to month, others will provide an extension for s set period of time, i.e three months, six months, etc... You need to place a call to them to see what they will let you do. Regardless of what their policy is about the duration of your lease, the monthly payment for your extension will likely be the same that it is now. As long as you have been making your car payments on time, Honda Finance probably will not check your credit again for an extension. If you do not have the cash to lay out to purchase your car and your credit has been damaged to the point that you may not be able to lease a new one, or you at least won't qualify for banks' top credit tiers, then an extension might be the right way to go. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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