Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Acura TL Lease Questions
2098 messages, Last post on Dec 02, 2009 at 6:05 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
You're welcome Philo82. I think that you are making a wise choice. Car_man Host Smart Shopper / Prices Paid Forums |
|
|
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 |
|
|
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
|
|
|
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
|
|
|
|
|
Replying to: Car_man (Oct 16, 2005 5:12 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.
|
|
|
Replying to: Car_man (Oct 16, 2005 4:53 am) 
|
|
|
Replying to: karmaverma (Oct 17, 2005 6:06 pm) $32,500 Selling price minus $19,686 residual = $12,814 depreciation.. $12,814 divided by 36 months = $356/mo... and this is only the depreciation portion of the monthly payment... The finance charge portion is (residual + cap cost) X money factor (32500 + 19686) X .00192 = approx. $100/mo.. Total $456/mo.+ tax (more or less).. I think you left out the finance charge portion of the payment.. regards, kyfdx Host-Prices Paid Forums
|
|
|
It was suggested that I post this message here instead of my previous post in the New Prices Forum. Does anyone know the MONEY FACTOR and RESIDUAL VALUE currently available through Honda Financial for a 2006 Acura TL for 36 months/15k per year? Mike |
|
|
You're welcome corbo29. Consumers who understand how leasing works and shop around can actually get better deals on their own than they can by going through a broker because for educated consumers all brokers really do is add another party that needs to profit from your deal. As far as your car's full MSRP goes, since Acura models do not have much in the way of options available on them your car's MSRP should not be that hard to figure out. Acura's full MSRP for a 2006 TL without navigation is currently $33,940. Your car has a capitalized cost of $33,778.05. If you didn't roll any sort of taxes or fees into your car's cap cost, you only received a discount of less than $200 on this car, which is not a very good deal. If you rolled Honda Finance's $595 acquisition fee or any state taxes or fees into your car's cap cost, this deal is much better. Car_man Host Smart Shopper / Prices Paid Forums |
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Acura TL Lease Questions
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Acura TL
Browse by Board
Browse by Topic
Today's Chats
