I've never leased a car, however I'm thinking about leasing the tl type S.

My simple question:
If I negotiate a value of around 31,500 for the car, and I plan to keep it 36 months, and I put down around 5,000 up front, what can I expect my monthly payments to be?

 

Why would you want to put $5k down? The point of a lease is to put down as little as possible. You're basically just giving the dealer that money, on top of your monthly payment. Unless you have that money to burn, either put down less or save up a little more and finance.......



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1998 Acura CL 3.0 (Iced Blue) ** Some mods, but who cares,
I want a Type-S... (CL or TL)!!

Moderator - 1st Gen Forum @ www.acura-cl.com

 

Gotcha-

OK, suppose I put down whatever minimum is required...what, then, can I expect as far as a monthly payment?

 

The more you put down the lower your monthly will be. I had about 5300 difference coming back to me with my trade in, so I rolled that into the lease agreement to get my monthly payments where I wanted them to be. It may not work for everyone, but it did for me.
Check out http://www.edmunds.com You’ll find some great reading on the pros and cons of leasing and financing.

 

The old general rule of thumb was to not put down more than $3K. I put down 3, plus taxes etc. to keep my payments under $400/mo. Every $1K works out to about 10-15 a month difference, so it depends on your goal.

I refused to pay more than 399, so we worked out the numbers. Again, it depends on what your goal is. Good luck.

 

I can't lease, I put an average of 35,000 miles a year. Lease sucks....anyways. Let say I bought a TL for $32,000 used it for 36 months and put 70k or 80k on it, then sell it for $18k or so......that's a total invesment of $14k. If I would have lease for the same time I would have pay around $18k or so and only driving it for 45k miles. SEE THE POINT.

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Doc Cat,

The monthly lease payment is the last number you should get from a dealer. First get the price of the car, the rate factor, the residual value, mileage allowance, determine the term, then get a lease calculator program and you can see for yourself what hidden costs the dealer adds. There have been a number of discussions on this topic already, do a search, you will benefit greatly.

 

Bitium,

Not arguing your point, but you left off tax and interest. Interest paid after 36 months on a 5 year loan would be about $5200, and tax at 6% is $1890. That adds up to being about $21,000 total, or $583 per month over 36 months.

When the money factor and residuals are right, a lease can be attractive. The bottom line is that switching cars every 3 years is always expensive because of the amount of interest paid.

 

5 K is a lot of money. Your payment depends, as mentioned previously on many factors, like your credit, the money factor (interest rate) that it gets you, tax in your area and the residual value after your lease term. Example, here in Orlando FL, your tax is 6%. Say the residual is 59% over 36 months with 5k down, your talking about a payment in the low 300's a month.........

<FONT COLOR="#800080" SIZE="1" FACE="Verdana, Arial">[This message has been edited by Outlook on May 30, 2001 @ ]</font>

 

I believe you still pay tax on the cap cost reduction (aka down payment) so there really isn't any advantage to putting a lot down at all. Invest it and use it for something else like the down payment on your next car.

 

5k down on a 39mo lease (15k a yr) will get your payments around 380-400mo.

 

5k is too much for a lease downpayment and you don't even own the car...not unless you decide to buy the car after the lease term

 

5k is too much. If you want to put something down, put down to cover taxes, tags & dest. It's a little over $2k.

 

I agree with tax, But who said I finance the car.....CASH

 

So what's your point? Unless someone has saved up $31,500, they shouldn't buy/lease a car?

You said leasing sucks... not financing in general.