jj69

Okay, I ordered my 05 today. An automatic without navigation and no accessories, for $31,100 including destination (but not local tax, registration, etc.). Correct me if I'm wrong, but I think this is a very good price.

Dealer offered to finance at 3.89% interest, which seems like the norm (at least in my part of the country). On a whim, I asked what kind of lease was available. The response surprised me:

The lease is for 36 months with 15k miles per year. $483/month with $0 down, but I have to pay about $1,800 at signing to cover first month, $500 security deposit, $595 "acquisition fee" (required by Honda Leasing - they wouldn't waive it), and local tax and registration.

There's also a $250 disposition fee when I turn in the car.

I'll be the first to admit that I don't know much about negotiating a lease, but this sounds like a very good deal to me. I have leased several cars in the past, but always through special factory incentive offers that were pre-set and non-negotiable. Do you think this is a good lease plan?

I've signed a P&S for the car, but I haven't committed to a lease, finance plan, or any other method of payment. Any feedback or suggestions would be greatly appreciated before I make a final decision.

Thanks!

MrGQDieselNY

IMHO that is a rip off, I just put a deposit down on a 5AT non navi, black/black 2004 TL, $1,370 down which includes EVERYTHING as well as 1st months payment. 47 month lease, 18,000 miles a year, $450/month. I understand its a 2005 but thats just too much, and the reason is becuase dealers are just not negotiation on 05's like they are on 04's.

In your case if you got 18,000 miles you'd be paying atleast $500/month, plus the $1,800 down and $250 at the end, I understand its a shorter lease but who cares, a payment is a payment. You got the car for $1,100 more than I did, granted its a 2005, but nevermind that you are paying $50 more a month (for 15,000 I would be paying $431), $430 more down and $250 at the end.. over 36 months ( yes I know mine is 48) you are paying $2,050 more than I am. I dont like that deal and you should get a better deal. You are paying $1,100 more than my sticker but its costing you over $2,000. I would think $10-$20 at the MOST per month more than an 04 should anyone be paying for an 05.

The standard lease/balloon I have found is $399/month for 12,000 miles a yr, on a non navi 2004. Use that as your guide line for the 2005.

Im curious what they would charge you for a 47 month lease like mine.



Ok I had a brain fart... 4get most of what I told you... Im doing a balloon payment because the dealer told me pretty much its the same shit as a lease and when I give it back at 47 months its the same as if I gave back a lease at 47 months... see if you can do that and save $10-$15 a month which I think is what I did doing the balloon payment plan.


FYI another dealer in NJ quoted me at $459/month for 18,000 miles on a 48 month LEASE.

When I add all this shit up, you are paying $50 more a month, and to me that is unacceptable.

alextclam

i don't think AHFC has a disposition fee at lease end. my sales person told me and it's also listed $0 on my lease agreement.

roadman

When you lease you must get these figures as well, Rate Factor, and Residual. From there you can calculate your own payments and avoid any hdden charges.

tkedat

jj69
I ran your figures through my lease worksheet that I created in excel for my pocket pc and I came up with paymets closer to $450-$460 rather than $483. You might want to re-calculate the figures for your self. Remember the residual is 56/57% (one of the two, i forget)

Saintor

Something is not right with this deal.

'595 acquisition fee' and '250$ return feel' ? Smells bad.

jj69

Thanks for the feedback, guys. I'm not feeling too comfortable right now, but I realize I left out some information.

There is NO $250 disposition fee when I return the car. I was confused about that.

Also, my montly lease payment includes the state sales tax of 7%.

Let me know if that makes any difference. I think I'm going to have to sit down and read one of these lease calculator web pages.

Nadimus

How about registarion and title fees? Are those included?

I have been offered $549.00/month, $0 down, no disposition fee, cancel anytime - no fees, title, tax, registration included for 2005 TL 6MT + NAVI.

jj69

Nadimus:

Yes, tax, title and registration are included in the $1,800 due at signing ($595 disposition, $500 security deposit, $483 first payment + registration + tax = $1,800). The monthly payment includes 7% state tax (so it's $452 without tax). Is your deal a lease or something else? Sounds like a rental agreement to me - canel at any time? I'm told the $595 Honda disposition fee cannot be waived, but it can be factored into the lease if you want.


MrGQDieselNY:

I'm definitely going to ook into these balloon payments, but I don't want the car for four years. I only want it for three. The NJ quote you got sounds very good, but does that $459 include state tax? My monthly is only about $452 without the 7% state tax. Also, how much is due at signing on the NJ lease?

MrGQDieselNY

He figured in my 8.25% tax.

It was for 48 months (longer than you want I guess)

and $1700-$1800 at signing, which includes everything as well as 1st payment and paying off 1 month on my current non acrua lease ($330). (they will give me a check for $330) and it was $454.79 now that I think about it, not $459, 18,000 miles.

This is the longest lease I have ever taken, 2 reasons why, I really like the car, and its the brand new body style which I do not think they will start chaning until about 4 yrs from now anyway, other wise 36-39 months is the longest I ever do.


Your lease of: 15k miles per year. $483/month , $1,800 down, is too high. get him under $450...I mean I know they arent negotiating much on the 2005's but I just cant see it worth $483 for only 15,000 miles.

But as you know my final deal in NY not NJ was $1,370 down. $450/month, 18,000 miles, 47 months. (for a 2004)

JayPoloTL-s

is anyone willing to calculate a 42 month lease on an '04 with navi, with $3,500 down? I'm totally clueless to this.