Here is the cliff notes version of my story. I am leasing a 2006 TL that has about 1500 miles on it. Unfortunately, my TL has electrical problems. It does not yet qualify as a lemon under state law. I contacted the dealer and Acura to see what could be done, as I have lost faith in the car's electrical systems.

Acura is offerring to voluntarily take the car back through a collateral substitution procedure. As I understand the process, my current lease would stay in place with an amendment substituting the collateral. Acura would put me in a comparable 2007 TL. I would have to pay the dealer $800.00 to cover the difference between the 2006 MSRP and the 2007 MSRP.

Am I missing anything here? This seems like a very reasonable solution.

Thanks.

 

sounds ok to me. 800 to get on a newer car (assuming everything else stays the same) looks like a good proposition on their behalf.

 

This is a brand new car, only 1500 miles. I'd have a hard time having to pay more for a problem with their car. Is the $800 the actually difference is the price? Or are they adding tax, etc.? If they are tell them you will only pay for the difference in the price of the car, not the other bullshit.

You did just give us cliff notes. But again I'd have a hard time giving them more money. As you said it doesn't YET qualify for lemon law. It sounds like they know it will.

Good Luck

 

I hear you--it is tough to have to write the dealer another check. The $800 is exactly the difference in MSRP between 2006 & 2007. No taxes, other fees.

 

Overall I see nothing wrong with it. I would try to negotiate and have them adjust it to $500. Maybe they will...maybe they won't, but it can't hurt to try.

 

IMO I'd go for it. In the long run the car is one year newer and has some neat new features. Also if it were me and I was able to afford the difference I'd ask them to put me in a TL-S.

So are they going to extend the lease one more year or will your lease termination date be the same as for the 06 you have ? The residuals would be much better and worth a buy out on a newer car.

 

Good point. I had not thought about that. As it was explained to me, the lease term would remain the same--no change in termination date for the lease. I can do the TL-S swap, but we would be talking about $2800.

 

That's a good chunk of change but the TL-S is more car. So then you are paying 800 for the 07' and an aditional 2000 for the TL-S ?

$2800 might be a small change when it comes to the resale value and the enjoyment factor for the duration of the lease but there is the fuel economy to consider as well.

 

screw that. tell them that you would rather have a 2006. its not your fault that the car has electrical problems and if they dont have any 2006's left, then they should put you in the 07 at no extra cost. remember, theyre the ones who messed up, not you.

and then maybe, they might put you in a 07 for free

 

Assuming you are going to pay the extra $800, what does that translate to in terms of monthly payment increase? Try negotiating it down to $500. You have nothing to lose by trying, particularly when it is not an unreasonable counteroffer.

 

what would the car do with the electrical systems?did the battrey die or something else?

 

if you are going to return the car at the end of lease, i would not pay them a dime and insist on getting another 06 for free and if they can't find you one, just terminate the lease and start a new one.
if you are going to keep the car after the lease, 07 might be worth getting for couple hundered more, but not for $800 impo.

 

this is a 'your choice' sorta thing. my first reaction when reading your post was to screw paying $800.00, nothing that happened was your fault so just get another '06 for free. of course, if you actually want an '07 then taking that deal from acura and the dealership is not bad at all.

 

find out how much it costs to lease an 07. If its the same amount, dont take the deal. If its more expensive calculate it out

 

How long have you had the 06? Why are you comparing MSRP-MSRP? They already made their money off of you just a little while back. I am more inclined to ask for another new 06 and extend the lease for the month(s) you already had it. Next would be a courtesy upgrade at no charge to the 07. Last thing would be giving them $800 or $2800. If you have had the car for 2 or more months, it's not a bad deal.

 

Leasing an 07 would most likely be around the same, because even though the MSRP is higher, the money factors on 07 leases will be lower due to more programs on them, compared to the 06 which has a lower MSRP but higher money factor. In reality 06 would be a little cheaper but that would depend on how well you negotiated the sellign price of the 06.

My take, take the 07 deal and I would defenitely try to negotiate on the TYPE S.

 

IMHO- they should just upgrade you to the 07- same terms and conditions for the lease and zero out of your pocket- otherwise- proceed w/lemon law. of course- proceeding w/ lemon law is going to take time and be frustrating. is $800 worth your time and aggravation?

 

Sounds like they are admitting the problem is in their court. Therefore your BEST response (IMHO) should be...nah, just take the car back and return me to whole (i.e. refund ALL fees, deposits, etc) and then go shopping for a new vehicle. Heck, you could even go back and get a TL-S if you wanted (some people are getting some KILLER leases on those things right now). Either that or they can simply move you into an IDENTICAL 2007 or 2006 (same color and options like NAVI, 6MT, whatever). If they can't match you up PERFECTLY, let them take the car back under the lemon law (sounds like your already 99% of the way there anyway with their acknowledgment of the problem). MAKE CERTAIN you get this first offer IN WRITTING before you try ANY of these ideas though (you MUST have the upper hand in order to deal and their offer is your upper hand)

 

tell them to pay the $800

 

To me it sounds like he is getting a newer car and 1500 miles for the $800...

 

I feel like he's getting a good deal, and some people are trying to be greedy, which is fine and can be achieved but with it comes lot of frustrations, so if your willing to deal with all that, then for sure swindle more from the deal! Either way you make out IMO, so no harm in trying!

 

Well I would say stick with it, keep saying that your unsatisfied with the way your problem is being dealt with talk to the owner if not the main guy in charge. The same thing happened to my sister in law she had on 06 altima with problems in the paint. They took it and re-painted the passengers side and it came out even worse. So she goes and makes such a big ordeal with all the staff of the dealership that they ended getting her in contact with the owner of the lot. He told her what will it take to make you happy, to which she replied I want my money back because this is bull, I thought I was getting a quality vehicle. So the owner goes well what if I get you into a 07 for the same price or as close to it. Well to make a long story short she now has a 07 and is only paying $5 bucks more a month.

So I would say stick with it and complain, you never know what could happen

 

Here is my two cents.

One, it is a fault with the vehicle and not your issue. They should make it right, no cost to you, don't pay the $800. If they insist then maybe you should just hint that you will continue to bring it in for service until you reach the lemon law requirements. See what that gets you.

Two, if you are going to pay for the upgrade, why are you paying the MSRP difference? You should only be paying the dealers INVOICE difference; they shouldn't be making any additional money.

Good luck either way.

 

Totaly agree. Why you should pay extra $800?? You are not the owner, just LEASE.

 

On the most part I agree with most of the postings. The dealership has screwed up and leased you a car that has problems. So they seem like they are trying to make it fair by offering you an 07 +800 bucks! I have to raise the bullcrap flag on this. You already paid for an 06 and now they are tryin to make more money off of you again. Either have them comp you on another 06 with all the same features, car condition, and lease terms. At a minimum or nothing else. Not to sure how the lease works ( contract wise ) but im sure you can cancel the lease cuz they sold you a bunked car. Take the money and go shoping for something else. And 2K for the TL-S is crazy!! If it was me if I could afford the TL-S in the frist place I've have gotten a TL-S and not a slightly used 06. Sounds like they tryin to pull a fast one on their mistake.

What type of electrical problems are you talking about? In most states its if the car has a problem and the dealer cant fix it within 3-4 trys its a leamon. You win against the man and you walk away with your money.

Or you could say this problem has inconvinenced you ALOT and you want some compensation and get you into an 07 or the TL-S for free. Depends if your a good hagler or not.

Best of luck to you.

 

terminate the lease and negotiate on the '07.

 

No good idea. 07 will be much more $$$.

 

well he really has no choice does he, as i highly doubt there are 2006's on the lot, atleast here in Houston there are none.

i got a good deal on my lease

$549/month, includes titanium converage, 0 down, 15K miles a year, this was on a TL Type S

 

Did the invoice increase $800? The increase in invoice cost is the MOST you should be paying FWIW.

 

Just an update for all of you who were nice enough to offer advice or an opinion about Acura's offer. Acura has reconsidered its requirement that I pay $800 for the collateral substitution. It will now be done at no cost to me 06 --> 07. Thanks all.

 

^^Glad to hear.

 

I don't get why everybody is upset. Sounds like Acura stepped up bigtime. There are a lot of manufacturers that would have given you the 800 number and said good luck.

Glad to own a car from a company that stands behind the product.

 

sweet...post some pics of your new LEASE ride...