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Prices Paid: Buying & Leasing Experiences Acura TL Lease Questions
1532 messages, Last post on Sep 04, 2008 at 10:12 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
| Drove a TL today and loved the car, the dealer won't even discuss prices or terms etc, unless you want to meet w/ the finance mgr. What a bunch of crap. I want to lease for 39mos/15k per year/ with 1200 down. The salesman said, you need to put around 5k down to get a payment around 499, I was so mad after the test drive and told them when they have real #'s call me. My fico score is 794... Go figure, Guess I will look at getting another lexus instead. URGH | |
| Anyone know what HFAC is setting initial money factor and residual for the 06 TL for 12K miles 36 months? (no navi). Thanks in advance... | |
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Hi dpav. Not surprisingly, Acura is not providing any sort of lease support on the 2006 TL. As a result, if you were to lease one through Honda Finance right now you would have to use its standard lease program. Its current buy rate standard lease money factor for 36 month leases is .00250. Honda Finance's 36 month, 12,000 mile per year residual value for an '06 TL without navigation is currently 62%. Car_man Host Smart Shopper / Prices Paid Forums |
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You're welcome Philo82. I think that you are making a wise choice. Car_man Host Smart Shopper / Prices Paid Forums |
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Hello bdcost. There really is not any advantage to purchasing your leased vehicle now rather than waiting until the scheduled end of your lease to do so. Not only is there a good chance that the bank that you are leasing though is going to still want you to pay the interest portion of your remaining lease payments, but they will be a lot less likely to negotiate your car's selling price with you now than they will be in a few months. Of course, there is no guarantee that Honda Finance, or whichever bank you are leasing through, will negotiate your car's lease-end purchase price, more often than not they won't, but you stand a much better chance of getting them to work with you in a few months than you do now. Banks cannot charge excess mileage penalties on vehicles that consumers purchase. So buy purchasing your leased Acura at the end of its term you will get out of having to pay this charge. the same thing goes for any excess wear and tear charges. The question is whether your car will have a low enough purchase option price to justify purchasing it. There is a chance that your car's purchase price will be so high that you would actually be better off just paying the mileage penalty rather than buying it and trading it in for a loss. You do not necessarily have to trade your car in to a Honda or Acura dealer if you choose to do so. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi corbo29. You're right, it is better to research your lease prior to taking delivery of your vehicle but by visiting this discussion now you can at lease learn whether you got a good deal and if not what to do differently in the future. You never mentioned the selling price or MSRP of the car that you leased. 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 car's selling price 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 your deal if you let me know what these numbers are. Car_man Host Smart Shopper / Prices Paid Forums
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Hi dpav. Honda Finance's current buy rate lease money factor and residual value for a 36 month, 12,000 mile per year lease of a 2006 Acura TL without navigation are .00250 and 62%, respectively. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 16, 2005 6:12 am) I did some quick math and assuming I put the deposit and all fees down, I come up with a monthly payment of $380 (incl 6.75% sales tax). The dealer says it'll be $483 PLUS tax. Can anyone tell me what I'm doing wrong here? Any comments are appreciated.
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Replying to: Car_man (Oct 16, 2005 5:53 am) 
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