After a long day of going back and forth with a dealer over the phone here is the numbers I came up with. This is for an 06 TL White, black leather, 6MT, and nav. A very rare combo Ive heard. The dealer I am working with is out of Mass and the closest TL like this is in NY, which would be a dealer swap.

36 months
12k a year
$1997 down, ach fee, first payment, doc + title fee (sounds a bit high)
$485.32 down
This is with Mass tax included.

We started at the same down payment at $522 a month. I asked him with this figure what is the dealer profit, he told me $700. I told him I needed the nigh to think about it. So do you think I should take it or neogociate more? Thanks

 

After a long day of going back and forth with a dealer over the phone here is the numbers I came up with. This is for an 06 TL White, black leather, 6MT, and nav. A very rare combo Ive heard. The dealer I am working with is out of Mass and the closest TL like this is in NY, which would be a dealer swap.

36 months
12k a year
$1997 down, ach fee, first payment, doc + title fee (sounds a bit high)
$485.32 a month
This is with Mass tax included.

We started at the same down payment at $522 a month. I asked him with this figure what is the dealer profit, he told me $700. I told him I needed the nigh to think about it. So do you think I should take it or neogociate more? Thanks

 

What is the Mass. tax rate? In most Southern California counties, the tax rate is 8.25%.

Your lease offer sounds decent for a 36 mo. lease in California.

 

Is that a comparable deal in your area and are you happy with it? Thats what really counts.. if so.. go for it

 

looks like a bad deal, if yo'ure going to pay that much, might as well drag it out and finance it for 60 months, you'll be paying the same (or close to it) each month anyways.

 

Check this out to see if you're getting hosed:
http://www.bankrate.com/brm/cgi-bin/lease.asp

 

wait

$1997 down, ach fee, first payment, doc + title fee (sounds a bit high)
$485.32 down
This is with Mass tax included.

then $522 a month? or another 522 down? i'm lost

 

If I am not mistaken, $522/month with 485.32 + 1997 down comes out to $21275. That's ridiculous. If you think about it, that's paying $590/month.

 

Very important: Ask for the money factor (x2400 will get your interest rate) and the residual value.

This information allows you to better understand your lease agreement. It should be on the up and up through Acura dealer and probably American Honda Finance but he may be shopping your rate based on your credit score. Good idea to understand the source of financing.

Last but not least, make sure the included mileage meets your needs.

 

AcuraDriver2006 is right, your grand total will be over $20,000. Pretty expensive car rental if you ask me.

 

With that kind of payment, might as well just buy it.

 

I have never understood why someone who pay so much to basically rent a car.

My boss pays $800 a month on his MDX lease. I just dont get it

 

I may have misread the original post. In California, the $1997 down plus $485 monthly lease payment is decent lease for 36 mos/36K miles.
However, lease @$522 mo. is too much to be a good deal for 36 months.

There are tax and lifestyle reasons to enter a lease instead of making a straight purchase. Leasing will result in added cost of several thousand $ if you decide to purchase the car at the end of the lease.

 

Lifestyle examples:

TV of M = Time Value of Money is important. You invest the difference or simple have more cash.

The upfront cash and monthly payments are higher with a purchase. Some people would rather put the difference in a house note. Part of which would reduce taxable income.

Funny enough, ran across a 3 year lease deal on a Maserati Gransport. $1299/month with 6,000 down. 10,000 miles a year. Depending on the person this could be considered a deal since a purchase would be much higher.

 

I'll second your opinion on this and add, why would anybody rent a Japanese branded car is beyond me.

Resale vaue on Japanese cars are much higher then comparative American branded cars (Ford GM & Chrysler). Might as well bit the bucket, put the money upfront and buy it. 3 to 4 years down the road, you have a car with a good resale value and the money you obtain from selling it will make a very good downpayment on a new car.

Also, I do not know if it is the same things in the good US of A, but up here in Quebec, insurance rates for leased vehicules is higher then for a purchased one and you have to meet the minimum insurance coverage set buy the leasing company.

I did a little study in 2000 when I bought a Honda Odyssey EX for $33,000. At the time Honda dealer where offering the base model ($30,000) on a 48 months lease for $400 month with a $4000 downpayment ($23,200 plus taxes) for 4 years.

I traded my 2000 Ody for a 2003 after 3 years, they gave me $21,500 with 50,000 miles on the vehicule and a broken windshield. 3 years of ownership costed me $11,500 compared to the lease above broken down to 36 months = $17,400 (Actual lease would have been higher for 3 years). I saved at least $5,900

As far as some people arguments of leaving money in the bank to accumulate interest, the rates banks pays these day for a regular saving without risks as opposed to the stock market is ridiculously low and not worth getting in debt.

Best regards from Montreal, Canada

frenchnew would bought his TL