RiceBurner

Just leased my 2003 3.2TL Types S (without Navigation) for $405 a month for 48 months with no money down. The $405 a month includes tax. Only had to pay the first month's payment and $50 in miscellaneous costs at closing. Any thoughts as to whether I got a good deal? Any similar leases out there? Thanks.

fsttyms1

good deal

TubbysTL-S

I think I Got FD---2 G's down and 411 a month
Grant it I got out my Lease with GM early just so I could get the
TL-S No Navi.

fegbri

I got $3000 down. $358 a month on a TLS with Navi.

fla-tls

I just have one question. Why are you leasing when interest rates are at the lowest they've been at in 20+ years?

If you run the numbers - depending on how long you have it and how many miles you put on it per year - you might be better off just buying it.

joecooool

I pay $398 for a type S without navigation, absolutely not a nickle out of my pocket up front and I get 15,000 miles a year.

Mines my beater so I didn't want to own it past the lease time.

RedIntegra

$283 a month @ 4.99 for 6 years (but paid off way before then)...it'll be mine at the end. Traded in my 8.5 year old Integra LS coupe ($315 back then).

DMan

How's this for a lease deal: 543/month for 48 months - 15K per year. This includes tax.

joecooool

Actually, thats awful unless your buyout is like $7000.

The total of your lease payments is $26,064 for 48 months and 60,000 miles.

The total of my lease payments is $23,880 for 60 months and 75,000 miles.

Were you really upside down (Like $5,000+) on a trade in?

RiceBurner

DMan,

That seems like a bad deal, since the average of the postings is around low $400s a month or mid $300s with a few thousand up front.

Ruski

Great deal

Ruski

Maybe because who is gonna take care of the tranny after the 4-year warranty runs out?

Ruski

When I leased my 2002 in November of 2001, I put $1,500 down and got $395 per month + taxes for 48 months, 15,000 miles per year.

Mr. Bo Jangles

I got my lease for $442 a month and that includes tax. It's a 39 month lease at $15k/year with no money down. Sign and drive.

If I would have bought the car and took out a loan my payments would be in the $700-$800 range.

Never put any money down because if you get in wreck it and the car is a total loss then you will not get that down payment back.

joecooool

Yes, but you better have gap insurance if you don't put any money down.

If you sign for $31K and then total out the car the next week, your insurance company isn't going to pay off the car for you. They will only pay about 85% of the new car price. You will be responsible for the difference.

Mr. Bo Jangles

That's true. Most Acura leases come with Gap Insurance anyways.

Ruski

I thought the taxes were unrecoverable if you paod them upfront.

Why isn't the downpayment recoverable? That's the part of the price of the car.

Ruski

Just saw an Acura ad the other night announcing a nation-wide lease deal on TL-S: $399 per month with $999 down. I did not catch the small print about how long the lease is and how many miles per year.

fastcarz3

hmm looks like i am one of the ones who got screwed 3000 down 426 a month 48 months 15k per year+spoiler

RiceBurner

I'm not a lease expert, but a higher down payment (cap reduction) and higher monthly payment may directly translate to a lower buyout at lease end so you may not really be getting screwed provided you're considering purchasing at lease end. However, if you don't intend to purchase at lease end it seems best to put no money down and get the lowest monthly possible (obviously)......

Laurelcrest

We got 12,000 miles a year for 3 years at $438/month, not a penny down, for the 02 S type

We considered that to be a pretty good deal.

On my new one (using US dollars, though I leased it in Canada) we're paying $450 monthly for 3 years, but got 15,000 miles this time, for the 03 S type. We put down about $600, and I didn't consider it as good a deal as the first one, nor did I particularly like the guy I got it from, but I needed a car fast. (and a fast car... a pun!)

nym31mp

i got my tls for 2 grand down 379 a mounth 36 mos 12k

DMan

Believe me; I know I got royally screwed.

My Mistakes:
1. Too impatient: I was talked into buying the car before I was ready, and I didn’t get a chance to thoroughly look over the lease deal.

2. Bought the car the day the new model hit the showroom: The day I was talked into buy the car was the day the TL-S first hit the dealers. Dealers don’t like to budge on the price. That day (I think it was March 12th, 2001) Honda didn’t even have a lease deal worked up yet. I had to wait a couple of days to sign the lease.

3. I was a little upside down by $590, because I got screwed by the finance manager/GM of Hubler Acura of Indianapolis. I was not planning on buying the car yet, I was just looking for a car that was going to replace my Honda Accord since its lease was up in 2 months. The finance manager asked me “What can I do to get you in this car today?” I told him if he dropped the price of the car by $590 I’d buy it today. He told me it was a deal, so we proceeded to work up the lease deal. I reminded him again about the $590, and he told me it would be easier for accounting if they didn’t lower the price by $590, but write me a check instead. I didn’t think much about it, because either way I was going to get $590 off the price of the car. One month later I was looking over the lease deal, and I noticed the SOB raised the price of the car $590 on the contract. I was so PISSED!!!! The guy had the nerve to tell me it was just a miscommunication on my part. He said he was absolutely sure he told me he wasn’t going to budge on the price, but allow me to finance my last two lease payments of my old car into my new lease. That was a total lie. I allowed all this to happen, because of reason 1. (too impatient)

Thanks to this site, I’ve learned so much about buying a car, and will not get screwed again by shady finance managers!!!

Laurelcrest

It may be a little late now for that, but you should go to your better business bureau (www.bbb.com ?) and report that. That is just nasty. Car dealers are for the most part scum, and he makes them look good.

Smitty02CLs

I lease my 02 CLS w/ Navi .....every option possible.

$459.00 +tax
$0 down
15K miles per year

Pure Adrenaline

iTrader: (2)

Just signed the papers tonight.

2003 TL-S without Navigation -- 31,830, talked them down to 30,200.

3,000 down, at 353.99 per month for 42 months with 15,000 miles/year --> 17867.58 total cost after 3 and a half years.

Not bad, I guess. The lady I talked to was actually intimidated because I knew everything. I did plenty of research. But that has nothing to do with how the manager decides on the price, I guess.

Is this a good deal or not?

Laurelcrest

Good deal, Pure Adren.

You're paying the equivalent of $425 a month with your down payment... that's better than or equal to most of the deals we've seen here.

If you read my post above you'll see I was paying $438 a month, though I put nothing down, and my lease was for 36 months not 42. All in all a similar deal, though you had a better mileage allowance.

drgn65

I am about to get a new TL (hopefully next week) not Type S, No nav but including a spoiler

378 a month (tax in) and 3310 down. I'm upside down and about 4 months early on my current leased car. I want to get out of it because i have about 47k miles and 4 months left.

tdoh

That is a great deal! I assume that you got the deal you did because, a) your sales price must have been under $30K; b) your money factor had to have been at least less than .002 (equivalent to 4.8% APR); and/or c) sales tax in NJ must be fairly low (at least compared to CA, which is 7.25 where I live).

Why is yours a great deal? Because if I were to lease a TL-S with no navi based on the following figures: sales price $30K, sales tax at 7.25%, no down, 48-month lease, 15K miles/year, MF of .002--my monthly payment would be around $443/month. Unless my calculations are incorrect, one or more of the above three points had to have been a factor in order for you to get the deal you got--not that I don't believe you, but you must have pulled some strings to get the deal you did--either that or the finance officer must have been asleep while crunching the numbers.

RiceBurner

Putting these $3000 or so down payments just doesn't seem to make sense to me on a lease. Why pay it up front when you can spread the $3000 over three or four years of payments?

r10apple

$502.90 a month (with tax) for 51 months w/ 18,000 miles per year, no money down and approximately $5,600 in negative equity (from an old leased Toyo 4Runner over the mileage-WAY over)...

Pure Adrenaline

iTrader: (2)

Well, in my case, we had the cash available, and didn't want to deal with a higher payment EVERY month for 42 months. It made more financial sense to us to make a downpayment and make smaller monthly payments.

Jason J

I'm pretty proud of the deal I got on mine:

03 TLS no navi
48 month lease
12k/yr
no money down
$380/month including tax

I was rather unethical to get this deal (telling dealers false lower prices to get them to match it, then taking that deal to another and so on), but I hate car salesmen. I've been taken before, so I just gave it right back to them. The best number I started with was no money down, 48 month, 12k/yr, 399/mo before tax, which works out to about 426 after tax, so I think I did pretty damn good after all was said and done.

I decided to lease because I don't keep cars that long, and I really couldn't justify paying more than $500 or $600 a month for a car.

Just my $0.02

Jason

sssick

03 TL-S Navi. $1000 down, $439 a month including tax for 36 months with 12k miles a year.

Pure Adrenaline

iTrader: (2)

Just curious --

What was your money factor? Mine was 0.00180 for the 42-month lease.

tdoh

True, you get smaller monthly payments if you put money down, but the smaller payments is just a "by-product" of doing so; the primary purpose (and really, the only reason) of putting money down (anything short of buying the car outright, that is) is to reduce the amount of interest you wind up paying during the life of loan/lease. By reducing the amount of interest you have to pay, you are in part effectively reducing your monthly payments. OTOH--if the interest rate (in your case, the money factor) on your lease is ridiculously low, it may be better not to put any (or as little down as possible if you're so inclined to do so) money down and instead invest your down payment in something that could give you a greater return than what you would have saved in interest payments had you put the money down on the vehicle instead.

tdoh

That comes out to about 4.32 APR--not bad for a lease. Did you get that rate through Honda of America finance or through some other lender (e.g., credit union)?

jim2003TL-S

NEVER lease a car for over 3 years. Its a total waste of money. I have been in the business for years and I know this is a true statement. Also, with the way interest rates have been, its much better to buy the car and not lease. It is a true that no money down is the way to go. Putting down a larg down payment is like throwing money away. Keep your money in the bank.

Just my 2 cents..

doopstr

I don't understand leases. So I don't.

nmbcatch21

I got my 2003 NBP TLS for 389 down 389 a month plus tax 15k miles for 3 years.