299 messages,
Last post on May 06, 2013 at 3:41 PM
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Acura RL, Car Leasing, Sedan
#247 of 299 Re: Purchase price at lease end [jbm160]
by Car_man HOST
Jan 03, 2009 (4:16 pm)
Hi Bartley. If your car's purchase option price is significantly higher than its real world value at this point, place a call to Honda Finance...or whichever bank you are leasing it through and see if they will negotiate with you. There's no guarantee that they will. In fact, more often than not banks won't, but you don't have anything to lose by trying.
Here's a little tip, if your initial contact at the bank isn't willing to work with you, lesses sometimes have better luck if they work their way up the ladder to a manager.
Good luck and make sure to let us know how everything turns out.
Car_man
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#248 of 299 Re: Purchase price at lease end [jbm160]
by pds1
Jan 03, 2009 (8:53 pm)
Not going to happen. I tried to buy my 2005 RL from Honda Finance at the end of my lease for book value. This happened to be about $5500 less than the residual buyout price.
"We do not negotiate the buyout price" they told me. "Just return the car if you do not want to pay the buyout price."
Now Honda can eat the $5500 loss when they send my 2005 to the auction, but at least they know they can sell me a brand new 2009.
If they had sold me the 2005, I would have driven it for 3 or 4 more years.
#249 of 299 Re: Purchase price at lease end [Car_man]
by jbm160
Jan 06, 2009 (8:10 pm)
Thanks for the tips, Car_man. I am leasing through AHFC, so I will try to contact them and will let you know if anything comes of it. I also understand pds1's point. It doesn't really matter to me, because I'm not planning to keep the car even if I buy it. My father-in-law likes the car and wants to buy it from me, but I'm not going to let him pay Honda above market value.
Bartley
#250 of 299 Re: Purchase price at lease end [jbm160]
by Car_man HOST
Jan 13, 2009 (4:16 am)
You're very welcome, Bartley. I have heard that Honda Finance is pretty reluctant to negotiate lease-end purchase prices, but give it a shot...you certainly don't have anything to lose.
Car_man
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#252 of 299 2009 RL lease
by chea89
Feb 09, 2009 (3:49 pm)
Need a 4wd sedan for my wife-she hates the look of new TL. We [she] are interested in RL with tech package. Does anyone, Car_Man, know the money factor, residuals, and the rebates and/or marketing support?
I hate the small size of the RL compared to other cars in this price range.
Thanks for your replies.
Charlie
#253 of 299 Re: 2009 RL lease [chea89]
by Car_man HOST
Feb 18, 2009 (5:19 am)
Hi Charlie. This car's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, 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 2009 Acura RL with 15,000 miles per year are .00250 and 46%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. You can actually reduce your car's payment slightly by going with a 39 month lease. The money factor for the 39 month term is the same, but its residual value is 1% lower.
When negotiating your lease on this car, make sure to take the $3,000 dealer cash that is available on this car into account.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#254 of 299 Re: 2009 RL lease [Car_man]
by chea89
Feb 19, 2009 (9:09 pm)
Thanks Car_man;
We were interested in 36 months 12k/yea on the 09 RL. But I think our attention is now on the Mercedes E350 4matic sedan. I do love the reliability of Acura vs. the German luxury brands {former Audi and Lexus owner}. I do appreciate all the info to be gathered in these forums.
Charlie
#255 of 299 Re: 2009 RL lease [chea89]
by Car_man HOST
Mar 04, 2009 (4:49 am)
You're very welcome, Charlie. Perhaps I'll see you over in the Mercedes discussions.
Car_man
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#256 of 299 Re: 2009 RL lease [Car_man]
by markinfrisco
Apr 21, 2009 (8:52 pm)
Hi Car Man...
I'm interested in a base model 2009 RL. What should I know about Acura's lease program on this car right now? i.e money factor, residual, incentives, etc.