I started by negotiating the price, and I had every intention of buying the car. After we agreed on the price, then I spoke with the finance manager. We ran a few scenerios, and the lease rates were not that good because the money factor was 0.00305 to start. So I was still ready to buy. Then the sales manager came in and was able to lower the money factor to 0.00154, dropping the payment to what it is.

The only ommitted features were the protection package. They left the mud guards on anyway because they forgot to take them off. I don't like wheel locks and the trunk tray I never had before, so no great loss.

Good Luck.

 

I thought the limit was $.445/mile... I'm pretty sure that's what we charge the government if we have billable mileage... If that's not the limit, I know that's what we get reimbursed...


as for leasing, I HATE it because a) you can't really mod your car and b) as you mentioned earlier, there's no equity... Personally, unless it's a corporate lease, I think they're a waste of money, especially since Acuras don't depreciate that quickly and they last forever... latest and greatest or not, a good car's a good car and I'd rather be stuck with my 2Gen that I can tinker and play with, mod, personalize and eventually resell, as opposed to having a new car that I'm barely allowed to touch and have to eventually return

 

I thought the money factor was strictly determined by the bank?? Was that a function of your good credit score?

I have excellent credit (728) will that affect my pricing? I'd love to get the same deal as the one you mentioned. If you're in FL lemme know

 

I financed my 2002 tls at the time and paid it off finally after a few years. Before i traded it in, i started having problems. Car would rev on its own, abs modulator was replaced, cd player broke two days before trade in, tranny problems of course. I had the car for 5 and 1/2 years and its great to own but not to have headaches. With that said, my intentions were to finance but the lease deal was pretty damn good and i can take a write off so why not give it a shot. To each his own. Hey if after three years i look back and say it wasnt worth then so be it, but who cares you live once why not enjoy it.

 

Not true.

Automobiles never (rarely) have equity. Having equity means something is worth more than what you paid for it. Somewhere along the line people changed this definition for the car industry to mean it is worth more than you owe.

If you finance for 5 years and don't put a substantial amount down at signing, it will be a long time before the vehicle is worth more than you owe, especially if you drive more than 12K per year.

In a AHFC lease the lease end value is pre determined at the start of the lease. You have the option, but not the obligation to purchase the vehicle at the end of the lease for that price. An intelligent lease customer will look at there buy out option and compare it with trade and resale value. If they can buy out their vehicle for less than trade value, then they should buy it and turn around and trade it in (at a profit!) That is equity in it's true definition.

Other benefits to leasing include GAP insurance being included. In the end of the run, it would typically cost 1000-2000 more to lease, then buy your lease at the end than it would be to finance for 5 years. The difference being in the lease, you have options in 3 years, if you finance you have obligations.

That said, leasing still isn't for everyone, but knowledge is power.

 

Basically, The car dealer "buys" money from the bank to lend to you to lease the car. The dealer can alter the money factor, usually within a set range, to make the deal happen. If you don't ask, and most people don't, they can make a huge profit on the financing.

Credit score is huge. Mine is over 780, so i always get the best rate. But even if your credit is not tier 1 A+, don't settle for a lesser deal. Back when my credit was not so good (below 600) I still managed to get 3.9 financing through Mazda Credit. Just be persistent.
I am in Atlanta.

 

Dealers cannot alter money factors at all. What the dealers do is alter the actual selling price of the vehicle. Leasing is still based on a selling price of the car. Money factor is set by the bank and cannot be altered or changed.
If someone asks a dealer: "what are you selling me the car for in this lease?"
The dealer can tell you anything and youre non the wiser.
There is a way to work out a lease by hand but its pretty difficult and most dealers can't even do it. We have computer that do it for us now!
If you know the money factor, residual value, MSRP and invoice of the vehicle.........you can work out your own lease and know exactly what profit theyre making on you. Theyre even lease calculators online now.....but youd be hard pressed to find a dealer willing to give money factors and residual values without fudging the figures.
Dont blame them either..........no one wants the dealer to make money so they watch out for themselves.

 

u can buy one with paying $549 a month

 

That is not always true. The dealer changed the money factor from0.00305 to 0.00154 without changing the sale price of the car or the residual value. According to you, this would be impossible. So either they had artificially inflated the money factor to start with, and then reduced it to what the bank allows, or they do have some flexibility in the money factor. However you look at, they changed the money factor right in front of my face, I was watching the computer screen and helping them enter the numbers.

 

If u have a dealer that actually shows you their marketscan scrren then they probably inflated it to begin with.....but as i stated above, u can't change what the bank gives you unless u plan on eating that difference out of your overall profit. (buy down)

 

agree.
plus here in suburb georgia 12000 miles will be broken in 5 or 6 months.

 

If I ever would lease a vehicle is when I got a company that I can deduct the leasing payment on the tax return.

Beside that you just got alot of $$ to burn and pay for something you can not afford to begin with.

 

it is a good deal!...but Rationally thinking , purchase it flat out if you can afford it , this car will still hold some good resale value after it's paid for!...and that'll put some money in your wallet in the end !....and the lease won't !

 

you are 100% correct!....people begged me to get them out of their lease's, they get buried severly..especially with the mileage penalties!...I tell them they either need to turn it in and pay the fee's, or buy it for the residule value amount, then trade it in ...no easy out 's .......I'm a former HONDA salesman!

 

My lease is for 15k miles....my 2002 tls had 56k miles when i traded it in and i bought it June of '01. I put roughly 9-10k miles a year but couldnt pass up the price with 15k miles. I know i wont have trouble with miles and i keep my cars immaculate. I was thinking of financing but would have had my car payment and my wife's which i didnt want to do. My car was giving me trouble and hers is in great shape with low mileage 31k miles and no loan. Instead i took the check for my car and paid my wife's 2003 Honda Accord off and saved the rest. I knew that in a few years i would want a new car so i figured what the heck lets giving leasing a shot, plus i can write some of it off legally.

 

$549/mo for a $36k car is a bad deal even at 15k/yr. You need to put more info in your post such as payoff amount at the end of the year. My little sister is leasing a $50k SLK350 for $600/mo with $2k drive off. Just because one works for a dealer does not mean he/she gets a great deal. A friend of mine who's a dealer once said he can get a better deal from another dealer than his own.

 

i'm paying 386/mo. for 3/yr 12k lease 1330 out of pocket at signing. base TL. any thoughts on that? I'm thinking I got a decent deal, shouldve haggled a little more for another day.

 

i leased my '07 TL-S. $549/month, includes titanium protection (dings, tires, wheels, windshield) no money down. 15K miles/year, all maintanence is covered

leasing works for me b/c (1) i hardly ever keep a car more than 3 years, (2) i take care of the car, (3) i get a great car for lower per month than i would if i bought the car.

its not for everyone. this is my first go with a leased car. figure when the new TL's come out, i'll buy one.

 

I owned a business for 10 years and always leased the car. FACT: Use the car for business and, regardless if you buy or lease, you can write off mileage above and beyond communting mileage. Commuting mileage is defined as the first driving segment FROM home, and the last driving segment TO home. Everything else can be deducted as a mileage expense. FACT: Lease payments can be expensed the year they are incurred, whereas a purchased vehicle can only be capitalized over 10 (15? I forget) years....advantage leasing. FACT: Yes, you have many more options when you own a busines, such as the option of being sued for no good reason, buying your own health insurance, and paying 15% towards Social Security, instead of 7.5%.

Sorry for the rant.....

 

You only pay sales tax on what you use. Cap cost - residual value. If you purchase, you pay tax on residual value.

 

Got mine a month ago

List was $38125 for 2007 NAVI TLS with $5K down, 36mo / 15k a year 399 incl tax

Residual is $22K Cap cost was like $34,500

Very pleased

 

i feel the same way one day i like the fact i dont have any car payments but then i look at my account and dont see much money so i think leasing would of been better but im happy im a owner.......

 

i got a deal from a CA dealer in alhambra. He offered me 2500 down, 340 a month, 12k miles per year, and first month insurance covered by acura for a TL base. Good deal? well i didn't take it bez i think i could find better ones

 

Is is $2500 down or $2500 drive-off? Interest in leasing a TL for wife and would like to get more information? Who is the salesman that you are dealing with (I assume you got it at Sierra Acura)? I am also in SoCal.

 

Got mine a month or so ago. 2007 Type-S with splash guards, trunk tray, summer and winter mats and wheel locks. $3300 down, $435 per month, 36 month lease at 10k miles per year. 22k residual. 10k works well for me. Short drive to work.
I also got 15 months of payments without sales tax(trade-in).
A trip to Seattle (280 miles away) would have got me a slightly better deal but it was close enough and i kept it local. Also the mountain passes are pretty nasty in Feb. Didn't want to beat the car up on the way home.

 

$2500 DRIVE OFF, i think it's Eric Chung,Old asian guy. you gotta play with the price a bit because they are trying to make money off you

 

We just took delivery of our new 07 TL/Navi on Saturday. We leased, $400 (equity from trade) down, $472.00 a month for 3 years at 15K mile per year. We negotiated the price first and got them to $34,000, then worked on the trade. I was shooting for invoice but they wouldn't do it. I did get them to tint the windows though. We were going to purchase and put $5K down, but with the way my wife changes vehicles, we figured we'd lease this one and invest the $5K. We figure in three years the technology will have advanced that much more and they'd have heated and cooled seats by then! Being as this is our first Acura, we're looking at it as a 3 year test drive! So far we're very happy!

 

Sierra Acura of Alhambra (internet department) has good prices - got a good offer from them for a 07 TL w/ Nav: 36 mo / 12K miles $2000 drive off, $423/mo.

I'd also try Metro Acura in Montclair and Power Acura in Torrance. Those dealers had the best quotes I found shopping around in the LA area (all by internet).

IMO, lease v. buy really comes down to one question: how long do you think you'll keep the car. I've always purchased before, and in general I think that's usually the better idea, but this time, I think I will want/need a new car in three years. Over three years, I ran the numbers and leasing made more sense. In that short timeframe (when most of the depreciation happens), even a low APR purchase with lots of money down is hard pressed to some out ahead, plus you've locked up a fair amount of cash at the outset. Your "equity" (you don't actually have equity in a depreciating asset, but whatever) is fairly limited, as the difference between what you'll still have due on your loan and what the car is worth is relatively small. [Disclaimer: I assumed a loan length of 5 years; if you pay it off completely in 3, depending on your APR, buying probably comes out ahead, at least slightly. But your payments are much, much higher]

If, on the other hand, you think you'll keep the car longer, say 6 years, then buying clearly comes out ahead. I think that holds true no matter what the lease terms are.

In the end, you just have to look at how long you think you'll keep the car, what your financing options are, what your cash flow is like, how many miles you'll drive, what the terms are... and yes, if you are in that rare group that can write off a lease, that's a big plus for leasing. Its pretty silly to say one choice is always better than the other.

 

Damn you people got some good deals. I got my 2007 NAV (not S) in end of november when they first got to dealers. I am paying $578 for 5 years with 12,000 miles and 2000.00 down (leased). BUT before you say anything. I had a 2005 TL (not nav) with 4 year lease that I obviously turned in early and it had 20,000 miles on it (I got that one in July 05). So im stuck in a never ending lease battle. This time after thinking about it, i should have bought this one. My issue was the amount of mileage on 05 car because it was already upside down. So I lost lots when turning it back to dealership way early. But I really wanted NAV and i liked the 07. That 549 for TLS is great deal.

 

Actually the internet department at Sierra Acura is offering some pretty good deals - they just sent me another email with these prices:

2007 ACURA TL PREMIUM MODEL - $31,108
2007 ACURA TL WITH NAVIGATION - $33,380
2007 ACURA TL TYPE-S WITH NAVIGATION - $35,588

I already picked up my TL last weekend, but if anyone else is looking...

 

i have a 2007 acura tl type s i'm paying $459 a month for 35 months.i put down $3800.this is my 3rd acura tl i had a 04,05 and now the 2007 type s and i'm loving it.

 

Great info....I bought my '06 TL at Sierra Acura and they gave me the lowest price from Edmunds.

 

Looks like a great deal to me.

Nothing wrong with leasing if you know for a fact you're getting a new car every 3 years.

 

leasing is for people who don't mind throwing away money!... a bad decision ....I'll give you the address to my garbage can!!!!...so you can dispose of your $$$$$$.....just purchase it flat out!......take it from a FORMER HONDA SALESMAN!

 

I've been lurking for awhile (have a TL-S 6-speed with Bridgestones on order), but in reply to this and other negative-on-leasing posts in this thread, take it from another ex Honda salesman:

Leasing works well on the short to medium term deal where you don't rack up a lot of mileage each year. The traditional three-year, 36 or 45K lease will cost you about what a purchase will cost you over that time span, assuming you sell or trade at that point if you've purchased. If you're a high mileage driver, or want to hold onto the vehicle until you can see daylight in every direction from the driver's seat, buying is the way to go.

My bride and I have leased or purchased for years, based mostly on what the hot-damn manufacturer's deal is in any given month.

Bruce

 

I have to agree. I tend to hang onto a vehicle till it's paid off, so I always purchase mine. My wife likes to change out vehicles every two to three years, so purchasing isn't a smart option for her. Normally when purchasing your payment is higher and you're still upsidedown at the two to three year point. We normally go with a 15K mile per year lease and have had about $400-$500 equity in the vehicle at the end of the lease. Plus, you normally get a better interest rate with a lease. The TL we just leased has a monthly payment of $472.00 @ 2.4% interest for 3 years, this is with just the $500 equity we got from our trade as a down payment, nothing more out of pocket. Had we purchased, we would have put $5K down, and financed for 5 years at 3.9% and the payment would have been close to $600 per month. Knowing we are probably going to trade again in three years anyway, the lease was the smarter route for us.

 

Just picked up my WDP TL-S from John Eagle Acura in Houston

$0 down - $475/mo for 3 yrs with 12K miles/yr (lease)

Price was 35,550....money factor .00093.....residual 56%

Talk to Mark Wedgeworth - he will hook you up!!

 

I was ready to lease a TL-S until I checked out BMW 335i. No money down, 36mon/12k on a 335i sedan, $479/month. The best part, free maintenance. The residual is 63% afetr 36 months.

 

That sounds like a steal. What was your total out of pocket expense?? Im assuming you stil had to pay tax, reg, 1st month and bank fee.

 

Total out of pocket was $475 (first month's payment)....nothing else....