agean

hello all ---

My lease on my 03 TL-S is up in about a month, seriously considering the RL (non-tech)

I'm seeing selling prices in the 43k range --- but what is a decent lease price to be paying now?

I'd be looking at 3 years, 12k per year mileage, and no more than 2k down.

Is the $3,000 incentive still in effect? Anyone know if / when that will be ending?

Thanks in advance, just want to get my facts straight before I talk to the dealer.

--mike

CGTSX2004

iTrader: (1)

With those terms, you're probably looking at about $540/month with a $2k drive-off using $43,000 as the sale price of the vehicle.

The monthly will vary from state to state as some states add tax to the monthly payment, others have you pay the tax upfront when you purchase the vehicle.

If you can give me more details about your location, local tax rates, etc., I can give you a more accurate idea. Plus, this is all based on top tier credit ratings allowing you to get the most competitive money factors for the lease.

agean

well i'm in north jersey, good credit score.

just curious what others are paying lately, don't want to seem to greedy at the dealer, or agree to something too high.

seeing the ridiculously low selling prices compared to msrp, it's a bit difficult to figure out where I should actually be on a lease payment.

CGTSX2004

iTrader: (1)

Well, with that info, your payments should be pretty close to the info I provided above. Just make sure you account for any taxes you will be required to pay. Good luck!

Tully44

Don't put ANY money down. You have nothing to gain and $2,000 to lose (i.e.: if you get into an accident, car is stolen, etc.)

You should be able to get a 12/36 lease for $630ish+ tax with no money down.

CGTSX2004

iTrader: (1)

That's way too high. With no money down, you should still be able to keep it under $600 per month before taxes.

emvazquez

tax inc(6%) with inception $$$$ down. +- 1,100 down.

agean

Thanks for the info guys!

Does anyone know if that $3,000 incentive I saw mentioned is still in effect, or when it expires?

miner

It expired May 31.

agean

update 6/24/06 --

Went to the dealership, they confirmed the 3k incentive is still on, and most likely will be through july as well.

Based on $43,098 price
36months, 12k miles/yr
$2k down, including everything, taxes, fees, etc
$637/month was the lowest they would go

I got this in writing good til the end of the month. This is based on "preferred" rates from Honda since I am a returning customer with my prior lease.

Seems high to me, I'm going to start emailing other dealers.

What do you all think?

emvazquez

YOU SHOULD BE ABLE TO LEASE IT FOR 36 MO AT AROUND 600 + TAX WITH 1,500 DOWN...THAT'S THE BASE MODEL.

aplato

Putting down money on a lease is actually a good idea. It reduces your payment and saves you interest cost.

For example: Car MSRPs at 45K, you negotiate 43K. Residual is 50%. Money factor is .0030 (about 7%). 36 month lease.

LEASE 1 - NO money down: $765/mo at $27540 total cost of lease
LEASE 2 - $5000 down: $612/mo at $27032 total cost of lease

Putting money down does save you interest costs. But the base rent on the car is about the same.

And if the car is stolen, you have insurance that will pay for the car and hence leave you only owing your deductable.

PS: Anybody leasing a car should spend LOTS of time at this calculator site: http://www.leaseguide.com/calc.htm

Also, learn the money factors and residuals. Because a lease is ALL about mathematics.

Santa Rosa Steve

If your car is stolen or totaled one month into a 36 month lease, you've lost the down payment plus the deductable... and have nothing to drive for the remaining 35 months. Better to put as little as possible down; if the monthly payments are too high then go with a longer term or less expensive car.

sdarryl

$3000 incentive ends july 5 unless extended again (edmunds.com)

Tully44

I respectfully disagree. If the car is stolen, you are secondary in any insurance claim. Your deposit is gone. You're 12 months into a 3 year lease and Mr. Thief steals the car. ANy gap insurance you have is there for insurance purposes. The chances of you seeing your deposit...I have a better chance getting hit by lighting.

If person leasing a car can only afford the payments because they put a lot of money down, then his/hers eyes are too big for his head. He's buying more then he can afford and needs to look at a less expensive car.

You're right-on regarding leaseguide.com. Also, not knowing the MF and residual is shameful. These are crucial to know for anyone leasing a car BEFORE walking into the dealership.

Rexorg

Acura has different levels of lease pricing depending on whether you are a current customer and what your credit looks like. The $599/month is for the best customers, based on a $41,000 lease price. You could pay a hundred or more per month. Still a deal in my estimation versus buying.

P.S. If you qualify for the Luxury Lease, Acura will waive $500-$1,500 in costs for excessive wear and tear and/or damage to body at the end of the lease.