bav

Hey! I leased my TL-S (white) in June 2006 for 36mos and 36k miles. So far its been awesome though I have put in 28k miles so far. I'm paying $450 (incl of CA tax) and put $1000 down which I think was a good deal at that time.
The residual is around $21K.
Now I'm thinking of just buying it at the end of lease. Do you think its worth it to buy it off? I can easily use it for another 3-4years before I get bored of it.
I've looked at other cars in the same price range, but now the lease payments are coming out to be much more!! Help!

Elegant TYPE S

iTrader: (2)

Why would you not want to buy it? That's a great price if its a TYPE S. But I thought they didn't release the 2007 Type S models till about September or October of 2006.

Adrenazine

Go for it

Steven Bell

iTrader: (2)

Bav, I would go ahead and buy the car. 2007 and 2008 Type S's are much sought after. And if you like the car, pull the trigger.




2009 Kansas City All Acura Meet-May 17th
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MobTownTL

iTrader: (1)

+1. Especially if they are MT x_X
i've looked high and low for a respectable TL/TL-S MT with a good price and decent mileage for the 07-08. I think they aren't going to start showing up again till maybe next year x_X with probably crappy miles though. i know my 07 TL is paid off in 2010 that is why i'm saying about then x_X lol but who knows.

01tl4tl

now is the time to go meet the Leasing and Sales Managers at your dealer

With car sales in the dumper, and many cars coming in from lease, you may be able to negotiate a lower buyout price to keep the car...

If my house dropped 40% in value overnight- so should the car!

They wrote leases based on what they thought the resale market price would be several years in the future== BUT the future has changed~
By dealing with you, The dealer doesnt have to hassle with selling it there or to the auction with other beat up leased cars--saves them time -which is money

Certainly worth a try-
never talk to a salesperson about it!!!-(commission paid people are not on your side)
go meet MANAGERS who make decisions- the General Manager of the dealership has to ok all deals...
look at their current stock of cars, and in the area- check online and see Craigs list for similar TL for sale and what they are getting for them,,how long ads are posted before sale etc
Be armed with facts and you can get most anything you want- if its realistic
You DO have to tell the Manager what will make you happy- example- 15k out the door -thank you
They have the choice of accepting or counter-offer or sorry- cant do it

Mention you belong to acurazine.com and have sung their praises on the internet--free advertising is the best- a happy customer tells 2 friends
In the old days and unhappy customer told 11 friends or anyone they could find on the street
Think about it--- do you suggest a good movie or restaurant to just a few or all your friends?-
or tell them one to avoid??
An unhappy customer now goes online and tells ~11 million people

Good Luck!

FreedomEagle50

Perfecto

HONgDA

iTrader: (1)

Did you drive it like you stole it or did you treat as your own car? Are there any damages to the exterior or was it ever in an accident? Clearly you know more about your car than we do. If it was like the way it was when it left the dealer and the price to buy is right, keep it. With fairly low miles, the dealer might not budge too much with the price too much. They can sell for more than what you ask for. It's not a hassle for them to sell since they are paid to do it.

vinnier6

iTrader: (1)

you can probably get a much better deal if you turn it in, and then try to buy it off the dealer as a used car....what is your residual.....

Oswald Vater

If you like the car and have had no issues with it, buy it. You'll probably even be able to lower your current payments due to lower purchase price and interest rates. You can always trade it in at some point down the road if you need to.

phee

iTrader: (5)

dotn forget that you can negotiate on a leased car

01tl4tl

I mis-stated about the dealer and the ~hassle~ of them selling the car- as someone noticed above
SO
It is their job to sell cars- I agree totally with you
AND the real problem NOW is getting a customer to A: want the car, and B: being able to qualify the customer for a loan--
You may have heard of the recent banking crisis,,, and if you dont have spotless credit- ..... may not even get a car loan!!!!

01tl4tl

also noted above: Every nick in the paint, ding on a door, worn out tires, yadayda...
they nail you on the penaltie$ for repairs- like a total repaint of the hood, or many parts need replacement...
Read your lease contract, car must be returned in `like new condition` or ~reconditioning fees~ may apply (and the Sun may appear in the sky again tomorrow)

Check the miles driven too, if over the limit- 50 cents per Mile!!,,cheaper to buy it and enjoy
Seems like the newer the car, the more issues and driver complaints I read here

Majofo

Buy it.. have them throw in the extended warranty.

Elegant TYPE S

iTrader: (2)

Dude where are you getting this information from? This is not factual at all, more like myth and a scare tactic. All this depends on the bank you leased it from. Most banks have an allowance for damages which should very well cover normal wear and tear that is expected with 3 years of ownership. And excess mileage on a car is calculated based on the MRSP of the car and since our cars are in the 30k to 40k range its $0.25 per mile, not $0.50..

lenjaiah

iTrader: (5)

correct me if i am wrong!!!

you lease it for $450 a month for 36 months thats $16,200
plus down payment of $1000
buy out is $21,000
comes out to $38,200

of course u could work on some numbers with them right? i am not sure how the buy out works but if its $21,000... i dont think its a good deal after all....

01tl4tl

every contract is different
some may be 25 cents per extra mile and the next 50
Some give $500 in wear and tear and other want it detailed and ready to sell
Leases are bogus anyway, anything that requires a down payment is a purchase, not a rental-

Elegant TYPE S

iTrader: (2)

You're also forgetting the extra 2k in startup fees for bank deposit and all that shit.

I already know Im not gonna win this debate with you because you have an old school view point. I agree with you to some extent though, leases if not done properly are ripoffs, but not always. This is where some research and education on how leases works will allow you to lease and then buy the car at the end for practically the same price you would've paid with a straight buy. I've done this 2x already and once gotta a better deal then if I had bought it straight out.

MR1

OP should find out what the car is selling for in his area then make a decision. He is shopping for opinions here and has received some.

I may be wrong but think I read that there is something unique about NY auto leases that does not apply in other 49 states. That may account for some of the difference in stated experience. Also, as stated, all leases are different.

ABP_04TL

iTrader: (2)

buy it... finance the rest... ur the 1st owner shit y not

Majofo

You're looking past the fact that they're selling him an '07 TL-S for $21k.. They could sell the TL for thousands more on the lot.

Blazing GT

I belive you can't negotiate buyout prices

Elegant TYPE S

iTrader: (2)

Depends on the bank. Hahn.. no.... HONDA FINANCIAL, Lexus Financial and Toyota Financial.. HELL YES! I have not done leases with any other banks so I do not know. Others can chime in. In ths market if they don't negotiate, they are retards. However.. the OP's buyout.. Im willing to bet they will not negotiate the buy out because that lease was setup and works tremendously in the banks favor because they wrote up that lease with such a low residual on the car. Most type S that are comming off leases usually have a buy out of like 25 to 26k.

01tl4tl

Elegant- I conceed to your greater knowledge of car leasing conditions
You are RIGHT-
I am old

For the last 20+ years I bought cars- not leased, so I am going off friends experiences (and knowing some car salesmen with their many stories)
which indeed are all old school,,,
AND that economic conditions change things!!


The Leasing Manager or General Manager is worth having a chat with to see if it can be done--
do we even know who the car is leased thru?

Majofo

Age is wisdom.. unless you ask the wife.. lol..

You're not old Tom.. You're old school.. and that's not a bad thing and not age related.. experience related.

candrews

I have to weigh in...a buddy of mine does this trick all the time. He sells the car to a private party a couple of months before the lease ends. How you ask? He knows what is owed (in this case $21K) then advertises the car for more. When the new buyer shows up he pays the lease off and pockets the rest. Now, it's not as easy as it sounds because the key is owing less than the car can fetch on the open market and, of course, does not apply in this case as the guy who started the thread is thinking of buying it himself...but...he might consider making some $ on the sale and leasing a new TL-S...

mdunn1066

BUY IT NOW.. seriously.

Elegant TYPE S

iTrader: (2)

This is how I've pretty much done it in the past. Lot of people go into leasing with just payment in mind.. and that is not right. There are 3 factors to a lease,

1. Selling Price of the Car
2. Residual Value
3. Lease Factor

You want to negotiate items 1 and 3 as low as possible and 2 as high as possible. This will give you the best lease payments. The car at the end of the lease will end up being worth too much for you to want to buy at the end of the lease but the banks know this too and so they end up dumping the price to match the market value and boom! You just negated all the money payed in lease factor, and lease fees over the course of 3 or 4 years and basically paying the same price as if you were to have bought the car from the get go!

Here's an example, by doing the above I did a 36 months lease for $299 on my TL came out of pocket about $3200. My buy out now was at 24k for my car but I declined and am currently negotiating with the bank right now and looks like they will settle at 19k! So do the math and you'll see how much I paid for an 06 TL w/ Nav.

lenjaiah

iTrader: (5)

past or future... if OP is buying out the car now. at the end it will still cost $38,200...

but if u wanna look at it as future.. yes 21k would be a good deal but anything under 21k would be a SUPER GOOD DEAL!!

bav

thanks for the great comments guys!

Majofo

Keep us updated Bav! Hopefully you'll still be in the club!

Jiggy2dmax

iTrader: (1)

Almost certain he has to pay tax on the the buy out price although he already did when he started the lease...will be closer to $40k when all is said and done.