Hi,

I am about to lease a 3.2TL. I have nver leased but have read up on it and I now know how to calculate the lease price. One question, the tax from what I understand is added into the monthly payment, is this correct? Example, lease is 330 before slaes tax (i have 5% where I live) then the lease would be 346.50. I had a delaer trying to add the tax into the initial payment. What does acura require for upfront costs? I went to acura.com and all I saw was 1st payment+security deposit. Nothing else listed.

This is what the delaer has told me on a 2002 TL standard:
42 months
370.95.month
15k miles
1339 due at sign
389 (nopt sure what this was but he mentioned tax)
57% Residual or $16701


Now I did the math and he is assuming I am going tp pay MSRP for the car of $29,300 (57% residual would eaul 16701 number he gave me)

I would like to pay between 26-27k.

I want to put 1000-1300 down including security, irst month payment and then pay 350-360/month.

What do you guys think?

Thanks,

Mark

 

Check your PM Mark

 

what is my PM?

Thanks,

Mark

 

Click on user CP to left of screen under Register

 

When I leased, the dealer was trying to tell me that I had to pay all these up front costs and security deposits. I ended walking away from the deal and he removed the costs. As far as the tax goes, it is standard to pay it every month because you are paying the tax on the portion of the vehicle that you use. The only logic I can see behind the dealer not taking the tax payment up front is that sales tax might increase over the next 42 months and they would then be out money. On another note you can always negotiate the sale price that the dealer is working with for the lease. Bargain for his best price then tell the dealer to use that number for a lease. Sometimes it works. Good Luck!

 

Honda Finance (Acura) has a security deposit, but it can be waved by adding 1/10 th point to the Money factor. The exception this month is that the money factor for a TL lease is 2.40 which includes waiving the security deposit without adding the 1/10th of a point. Honda lease also does not have a tier program for different levels of credit worthiness like a traditional finance such as a regular purchase. Your either approved or your not! Presently through the end of this month the residual for a 2002 TLP is 60% a 36 month 15,000 mile lease. A 42 month lease is 55% with a 2.4 money factor and a waived security deposit @ the 2.4 Money factor. My suggestion if you can , is to get thye 2003 before the end of this month. You ask why? Well here it is. The 2003 has a 63% residual @ 36 months with a 2.4 money factor and a waived security deposit without adding 1/10th point to the money factor. The 2003 will only go up by $100 MSRP!

 

Tax is either paid up front or collected monthly by the lease company. How it is collected is determined by the state the car is registered in. For example, my cars were leased in NJ where all the tax is collected upfront by the dealer. Cars I leased in IL had the tax applied to the monthly lease payment by the lease company.

 

The 2003 numbers are based on 15,000 per year! All banks charge a aquasistion fee! It's called profit to the lender! That is never and I repeat never negotiable!

 

If you live in a state wheres theres tax you would pay tax monthly on the payment Example: Payment is 300 and tax is 8% then your payment would be $324. I also might mention that if you put money down besides just front fees (first payment and license fees) you will be taxed . Example $3000 down @ 8% = $240 that the dealer will have to collect for tax. So insted of a total of $3000 going towards lowering your payment only $2760 will apply towards lowering payment. $240 goes to the state

 

There may be some people on this board that know as much about leasing as I do , but I doubt know more! Look forward to being of some help to those of you that might ever need it.

 

Sounds like a lot of money down, you should be at 387 per month including tax with a 2.4 moneyfactor and a 55% residual (and thats with nothing down at MSRP) for 42 months ........