I got a quote from the local Acura dealer for a 48 month lease on a 2002 TL-S w/o Nav. at $455 for 12K miles. Car price quoted as $30710 w/mudguards. Dealer is in SC. What do you guys think? Lease is with American Honda.

 

Well I am not a big fan of leasing (most of the time you are getting ripped off unless you look realy closely at the details).

Anyhow, if you are only leasing for lower payments...don't. I was looking at the average cost of an actual loan and found it to only be $75-$150 higher than a comparable lease.

See going that route, it is your car, you can mod it if you choose, and you don't have to worry about fees regarding mileage and wear/tear at the end of the lease.

Also, leases generally carry higher down payment rates and higher insuarnce rates as well

The only upside to leasing is the **barely** lower payments and the fact that you can trade it in every few years assuming you took good care of it.

Try http://www.peoplefirst.com

They offer good rates, NO down payment and allow you to pay for your car at the dealership with one check that they mail to you. I have seen people even with bad credit get approved albeit with higher interest rates but i have heard many good things about the place.

Anyways, to answer your actual questiion hehe sorry for going on and on, I am at work )

that price is alright but i'd push for a little lower for a non navi lease. Even if you can't get them to budge, that's not a bad deal.

--Kaz

Soon to be TL or CL type S owner.

 

Kaz,

I just went to peoplefirst.com and used their calculator for a loan from them. Since you have to enter your zip and state, does the calculation already include tax??

Thanks.

 

Yikes, that's high. I'm paying $530 a month for a TL-S w/Navi for a 30 month lease that includes tax. I put nothing down other than the refundable security deposit and standard dealer fees. You should be able to do a whole lot better.

 

I'm looking into leasing the TL-S. Has anyone leased one recently? If so, can you please tell me what you are paying per month? Thanks.

 

There should be no tax since this is a finance and not lease. The tax will be added at the dealership.

 

Correct, no tax at people first website. They give you a check so it is your responsibility to get a final quote from the dealership that INCLUDES tax. Then give that figure to peoplefirst and they'll mail you the check. The other way to go about it is to just say you want a certain amount from peoplefirst and then walk in a dealership empowered, knowing that you can buy it then and there with 'cash'

Kaz

 

The same argument against leasing is repeated so many times but I disagree...

In my opinion Leasing makes sense because most car lovers will probably upgrade after 5-6 years.

If you are going to sell it or trade it in anyway a lease can be advantageous because you pay sales tax only on the portion you use which is a savings, also many leases are subsidized so you are paying lower than cost

the risk is already predetermined - for example nobody wants to buy Explorers anymore so the resale value is probably going down so this is an additional risk

For some the leases are tax deductible so its an additional savings.

Leases actually require very little down so if the car gets totalled in 6 months you lose very little compared to a hefty down on a purchase! Gap does not cover down payments!!

I agree if you're going to keep the car for the next 10 years then its better to buy it!

 

Like I said, leases are bad if you don't take care of your cars. They also lead to higher insurance rates. I am pretty sure I noted that leases are good for people who trade in their car all the time.

fact of the matter is, I would lease a cl if I could get a good deal on one but I believe that it is much easier to get screwed in a lease deal...

 

I am under the belief that leasing is the way to go because i am fickle with cars and I want a new one every 2-3 years. I leased my 99 Audi A4 for $399/mo with zero down(loaded), including taxes. I knew I would blow out the mileage restrictions. The key to that is not turning the car back in at the end of the lease. I sold my A4 a month ago and my lease wasnt up until Feb 2002. The guy that bought it paid 20,100 for the car and my payoff was 20,450. If i had waited and turned the car in, the mileage penalty would have been at least $5000 . I took a $350 hit, and got out clean. If the car is desirable, you can do better than that. I like leasing for those reasons. i also like leasing b/c of the lower payment. My insurance went down about $100/ months from the A4 to the TL-S(go figure). I am paying $447/month for a 48 month lease with 12,000 miles/yr and $2500 down for my 2002 WDP w/navi. I am pleased with that b/c I had to wait a month to get the WDP. Bill Schneider took care of me at Riddle Acura in Chesapeake, VA. He is the GM and is wonderful to deal with. I may have been able to shop around the state and find a better deal (maybe $10/month) but it just wasnt worth my time

 

Leased mine on 7/4/01, through AHFC. Payments are $414.00 (before tax) for 48 months 15,000 per year. I put Zero down, 0 drive off. Residual is at 54%.

 

Hmmm....

I got my TL-S for 430/month (no navi) for 36 months, not 48. The limit is 12000 miles (not a big deal for me, I live in New York City) and we had to put $1000 down, which I negotiated to include the first and last months' payment (so in reality it was about $150 down).
This included mud-guards, which I have yet to see a TL-S without (either everyone is buying them, or Acura has told every dealer that they are standard, and the dealers are 'throwing them in' to induce us to buy) and the roof visor.
All told, we were pretty happy with the deal, and if you're in the New York City area I'll tell you which broker to go to.
Ciao.

 

GVtire, where and how'd you get such a good lease deal?