I'm in the market for an '07 TL-S, and I have a quote from a dealer for a 36 mo., 12k lease for $525 a month with nothing down. This looks like a pretty decent deal, but it also looks like I could have done better if I had struck before the deals expired earlier this month.

Does this seem reasonable? Unfortunately I don't know MF/RV or even the base sale price for sure at this point -- so there's probably no way to tell. Cap cost ought to be pretty close to invoice minus $1500, but again, I can't swear to that yet.

I can either wrap this deal up in the next week, or in a month and a half or so. I don't mind driving an '07, but if I can do better on an '08 (or even an '07, though it doesn't look like the RV will be getting any better) by waiting a month, well, why not?

This is the first time I've leased a car, so I'm out of my element. Does this deal seem reasonable? From what I can tell, it does, but I think I've also done a generally poor job of negotiating so far.

 

I leased a TSX with Honda before and everything went well. I would definitely wait for the 2008 model, that's what I'm doing. There will be more specials on them, they should be out in a few weeks.

 

By the way, I went to an Acura dealership today and they said $450 a month for a 36 month lease, 15k miles, with $1,000 down.

 

Thanks for the tip. You happen to know if that quote included tax? I think the one I got does, so I just want to make sure I'm comparing apples to apples.

 

^^ Is this for a Type-S?





That's about $40 per month more than a month or two ago. $1440 over the term of the lease. Assuming that Honda/Acura have removed incentives, I'd say it's not too bad.

You do need to understand the Resdidual, Cap Cost, etc.

 

OK. That's great to know. It would have been nice to save that $40, but I can certainly deal with that kind of difference.

I understand residual, cap cost, and so on reasonably well; I just haven't gotten the numbers from the dealer yet, which worries me. I'll give him a call today and try to get him to send that over before I'm able to get over there.

Here's one thing I don't understand, however: given that I have a monthly payment that I'm happy with, at this point would a lower residual value be better than a higher one? Is the cost to purchase the vehicle at the end of the lease pretty closely related to this number? Or is that something that's negotiable at that point?

 

In simple terms you pay the Price of the car Minus the Residual Plus Interest.

If the Residual goes down, you pay more per month.

The Residual is, in fact, what you will pay to buy the car at the end of the lease. It is a pre-set future selling price.

 

That's about what I figured, but I wasn't sure. Thanks again for your help.

 

Yes.

 

I have an 07 Type S with Nav and Auto for $400 a month plus taxes which is $433 (10k mi/y over 36 mo)... $2400 down. Figure over 36 months it costs $17988. Your 36 month lease is $18,900. Are you getting GPS with that? By the way, my car is silver with a black and tan interior. Anyone want to take it off my hands? I'm 2 months in and 2k mi into the lease.

 

As far as I know, I'm getting GPS with that. I think it's standard on all Type S TLs.

So yours equates to about $500/mo. with a 10k allowance. The additional 2k mi/yr probably accounts for much of that difference, right?

 

Well you're talking about 6k miles different at $0.20 a mile, which is $1200 if I'm over. So that brings mine up to basically what you are paying. But keep in mind there is always something down. Security deposits, tax, blah blah blah.

 

Not necessarily.

Prime - Here is the deal I was quoted:

$485 per month (includes tax - in NC it is 3% "Use Tax")
36 Months
12k miles per year
1st Payment only due at signing
Includes Wheel Locks, Trunk Tray, Mud Guards

= $17,460 Total

We put $2536 Total Out of Pocket for a final payment of $426.xx per month = $17,451 Total.

As I mentioned that was just about 2 months ago and the rumor here is that Acura/Honda have ajdusted lease offers/incentives.

 

I would wait for the 08 as well!