Just got these from my dealer. Would appreciate verification from anyone in the know if possible.

Term Res. MF
36 59% .00215
39 57% .00215
42 57% .00200 (this is the best deal)
45 51% .00200
48 51% .00200


Let me know if any of you have heard anything different.

 

I was quoted 61% residual for a 36 month lease by two different dealerships.

 

Very interesting. Was that with Honda Finance? It would be very good if we could get a collective list of this together that would prevent dealerships from playing games at all. I will call another dealership in my area today and see what numbers they give me.

 

It's very possible that the 61% is based upon a low mileage lease. The above residuals are probably for 15,000 miles per year. The leasing companies usually give you anywhere between a 1 and 3 point bump for driving low mileage.

 

Ah very true, I forgot to say that these were based on 15k a year. At 12k the 2% jump would make sense

 

yup.. got the same numbers from sierra acura

 

so with those numbers how do you figure out what the monthly payments are?

 

For your lease payments yes.

You need three things to make up a lease payment.

Capitalized cost (Price you bargained down to minus down payment)
Interest rate.
Residual value.

And you also need to know the MSRP or sticker price.

 

Use this tool to do the calculations. Long as you put them in right this will give you the correct numbers.

http://www.leaseguide.com/calc.htm

 

Chadr, the residuals you posted are correct. As you said, they are 15,000 mile/year residuals, you add 2% for 12k. In NY we have to deal with balloon leases, so there is no MF, it's an interest rate (5.49%). If I did a lease in any other state where leasing is allowed, the MF would be .00205 for 36-39, and .00190 for 42-48 month terms. These factors are not including the security deposit waiver, which is an add-on of .00010 to the MF, as you posted. I too am in the new car leasing/financing/sales business, which is why I know this..

Ed

 

shoofin
what would it be for us NY cats
interested in leasing for 15,000 miles/yr
with a 42 - 48 term?
is that Interest rate only from your bank or is it standard?
i was just quoted 546/mo for 36 mo term with 3k out of pocket.

 

Pohanka Acura in the DC area is offering a $299 lease on the '04 TL. I'm assuming that's without Nav.

 

You can get any price on a lease.....it just depends on what you put down. Ive always recommended that you put nothing down on a lease becasue it really doenst reduce the overall cost. And it offers a bit of protection in case the car is totaled. Gap insurance will allow you to walk away clean, but I dont believe you can recover the money you put down. Extreme example - you put down the entire cost of the lease at signing and you would have no payments. If something happened to the car the next day, you would lose that money. It's extreme but you get the point.

 

36/15k $512 per month with a total of about $3,000 out of pocket (Honda Balloon)
39/15- $498 with total about $3,000 out of pocket (Honda Balloon)
42/15- $470 with total about $3,000 out of pocket (Honda Balloon)
48/15- $447 per month with about $3,000 total out of pocket (Honda Balloon)

Pricing is for a TL w/o Nav, MSRP $33,150.

FYI, the Interest rate is set by Honda Finance at 5.49%, so that's what it would be in NY state.

Ed

 

Ed, I looked at your prices, and determined that you included tax? If so, I think you used the wrong residuals (using the 2% less for Nav units.

More importantly, though, do you know what companies are leasing Acura's in NY and what MF or residuals they might use? The balloon looks ok on its face, but the interest rate is higher (about 1/2%, and the writeoffs for business use are much less.

 

Here's what my dealer sent me:

48 mth 15k miles $3k out of pocket ballon would be $489mth

Buyout $16929. no tax because its already been paid up front

Rate is 5.49%

 

jgrahamii, the prices are with the tax (8.625%)and DMV upfront, which totals right around 3k.

NYCTL, is that for navi? If not, they are ripping you off! I'll check my numbers for navi tomorrow..

Ed

 

that's what I asked her as well.
I'll let you know either way cuz
I'm not accepting any sub par
deals.

 

Ed and NYCTL. I checked your numbers, Based on the residuals posted at beginning of this thread, and the MSRP's, the residual used in NYCTL's numbers is for the non-Navi. Using the interest rate and terms, that would mean a cap cost of $34,725, rather than 33,195 MSRP, assuming taxes and motor vehicle is the $3000 up front.

I will say this. My dealer gave me numbers on the Nav that I can't make come out right either. She's about $20 higher than I think she should be. I don't want to balloon this, so I'm waiting for a 3rd party lease number and have not pressed to see what is causing this discrepancy, since the price quoted is supposed to be MSRP. I'm not in the car business, but am in the mortgage business, so I do know how to do these calculations (with a trusty HP-12C). I figure at MSRP with the other numbers that NYCTL posted for the non-Navi the payment should be $453 or so, again provided the $3000 up front covers the tax and motor vehicle fees.

I keep trying to figure out if there is some other fee (acquisition fee, security deposit?) in the numbers that I don't have. My guess is not, though, since the interest rate on a loan is higher than a coverted money factor on the lease. -John

 

36/12k $543 per month with a total of about $3,200 out of pocket (Honda Balloon)
36/15k $562 per month with a total of about $3,200 out of pocket (Honda Balloon)
39/12- $528 with total about $3,200 out of pocket (Honda Balloon)
39/15- $545 with total about $3,200 out of pocket (Honda Balloon)
42/12- $498 with total about $3,200 out of pocket (Honda Balloon)
42/15- $514 with total about $3,200 out of pocket (Honda Balloon)
48/12- $491 per month with about $3,200 total out of pocket (Honda Balloon)
48/15- $505 per month with about $3,200 total out of pocket (Honda Balloon)

Pricing is for a TL w/ Nav, MSRP $35,150.

If she's giving you $489/mo for 48/15 with 3k out for Nav, take it!

Ed

P.S. I am also a supplier for Acura and can get these cars for anyone as well..

 

Bear in mind, in most cases, a dealer can sell the car at MSRP, but play around and increase the MF (or Balloon %) to make money on the back end. I do not do that..You might have been quoted a higher MF or % because the dealer wants to show that the car is sold at MSRP so you don't complain..

Ed

 

For those in NY who don't wanna Balloon..This is one third party bank #'s:

Non/Nav
36/10-473
36/12-482
36/15-499
39/10-461
39/12-469
39/15-485
42/10-451
42/12-458
42/15-472
48/10-433
48/12-439
48/15-452

Nav
36/10-520
36/12-529
36/15-547
39/10-506
39/12-514
39/15-530
42/10-493
42/12-501
42/15-516
48/10-466
48/12-472
48/15-486

These numbers are plus tax(NY) with the 1st payment, bank fee and DMV fee upfront, totalling anywhere between $2,000-$2700, depending on car and term..

FYI, this bank is VERY strict on who they approve, so your credit has to be A+++++++

The line forms to the left..

Ed

 

Shoofin
She just got back to me and confirmed that the price quote was for Navi.
So you're saying that's a good deal? Could possibly be lower if i traded in my 96 or 02 TL. Whaddya thinks.

 

For 48 months/15k miles, the buyback is 17,223.50, or 49% residual with Honda Balloon, so I don't know what buyback they quoted. If they are offering $489 with 3k out of pocket, they are discounting $650 off MSRP (approx), which seems like a good deal to me...Go for it..

Ed

 

shoofin
here's what i posted earlier.
i guess their buyback is 16929.

 

I know...I got what you posted earlier, their buyback doesn't make any sense. The true buyback is what I posted..
Ed

 

thanks for looking.

i'll keep that in mind when i go in.
to be honest, i'll probably wait until next year anyway.

don't want to be the beta tester.