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Acura RSX Prices Paid and Buying Experience

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  • Thanks for the links. I’m definitely going to invest in the dealer invoice.

    I wasn’t even aware that it’s possible to get financing for a lease from another source.

    I’m not doing a trade-in though, this is my first car. I chose to buy and I can’t decide if investing in the Acura Plus (7 year warranty) for 1500$ extra is worth it.

    I’m glad I came across your post and I love your tactic. I’ll try making a spreadsheet and taking a copy of the invoice along. I hope my results are as good as yours.

    Thanks for the help
    Claudia
  • BTW, in Canada, Leases have to state the interest rate, not the money factor like in the US. Remember though that a lease with a lower interest rate may not be as good as a lease or buy-back loan with a higher interest rate if the residual value of the latter is higher. In the case of the 2006 Type-S in Toronto, third party residual rates from at least RBC is higher than the dealership plan.
  • I decided to jump on the October '05 lease special. Here's the deal on the 2006 RSX Type-S:

    15k/year (I've been averaging 14,200 miles per year for the last 3 years)
    $3193 down (including all fees and taxes)
    $265/month

    I sold my 97 Nissan 200sx SE-R for $2500 cash and using that for the down payment. Because I'm on a limited budget, I wanted to keep the monthly payments down; my dad is spotting me the remaining down payment.

    This deal was better than the Mazda3, Subaru WRX, and the Scion tC.
  • You can buy the extended warranty up to three years after you buy the car. The price should only change by the rate of inflation.

    I haven't checked in Canada but in the US you can buy an extended warranty from a third party instead of the dealer. This is recommended according to Consumers Reports and other.

    I passed on the dealer ext. war. Will wait a couple of years and re-assess.

    BTW, if you want my speadsheet, update your profile with an email address and I'll send it to you.
  • Negotiated down to 199/month for RSX with leather, manual, with 1499 down and 225 sec. deposit.

    I took the deal and i'm happy with it.
  • Thanks, I updated my profile.

    According to this link http://www.carbuyingtips.com/warranty.htm there is only one Canadian third party warranty company. If I find others I will let you know.

    BTW, did you look into the Mitsubishi Eclipse before deciding on the RSX?
  • Acura RSX is "Recommended" by Consumers Reports. Mitsubishi Eclipse is not - poor road feel and the 3.8 V6 is noisy and overwhelmes the front tires while trying to put the power down to the ground. Could switch tires. Residual value after 4 years is $3000 less than the RSX
  • I couldn't see your email address in your profile so can't send you the spreedsheet. My email is available so send me a private or change your profile so I can see yours.
  • bedibedi Posts: 6
    The Oct 31st, lease offer has ended and there is lowered interest rates for purchase for the next day of two .
    What is the prognosis for offers for purchase and leasing for Nov 05?
  • Hi michael_lee76. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion on this deal if you let me know what these numbers are.

    Car_man
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    Smart Shopper / Prices Paid Forums
  • Hello bedi. Acura basically continued the special lease program that it was providing on the 2006 RSX in October through the end of November. The specifics of the program are a little different, it lowered its special lease money factor a little bit to make up for a drop in this car's residual values, but the lease payments that result from it should be about the same. The special finance rates that you mentioned are a limited time, regional program that I do not expect to be extended.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Are there any special offers for leasing a 2006 RSX Type-S? I am looking in the Dallas/Fort Worth area. I'd like to get some guidance on residuals (36/39/42 month, 15k/year) and cost of finance.

    Thanks!
  • I'm considering a lease on an RSX-Type S with the following parameters. Is this a good deal? How much better do you think I can do?

    Term: 36 months
    Sticker + Destination: $24460
    Discount: $500
    Total vehicle cost: 23960
    Residual Value: 14676
    Money Factor: 0.0009
    Sales tax: $1497 (0.0625)
    12,000 miles per year
    Houston, TX Area.
    Monthly Payment: $360
    Due at signing $360.

    Thanks for your feedback...
  • I'm considering a lease on an RSX-Type S with the following parameters. Is this a good deal?

    Term: 36 months
    Sticker + Destination: $24460
    Discount: $500
    Total vehicle cost: 23960
    Residual Value: 14676
    Money Factor: 0.0009
    Sales tax: $1497 (0.0625)
    12,000 miles per year
    Houston, TX Area.
    Monthly Payment: $360
    Due at signing $360.

    Thanks for your feedback...
  • nippononlynippononly SF Bay AreaPosts: 12,691
    no lease expert or anything, but I would say that with the prices these cars are going for now, you could go in with $1000 or so and BUY the car for this payment on a 5-year loan, have probably $3-4K in equity in it when you sell it at three years, and have the advantages of owning it in the meantime to boot. This way you will have zero equity in it after three years, because it is unlikely (to say the least) that it will be worth more than $14,6 after three years. So, $3K in your pocket in 2008, or signing up for a new lease and $0 in your pocket?

    Yes, the lease is a little cheaper to get into than the purchase would be. And either way you are not getting ripped off.

    2013 Civic SI, 2009 Outback Sport 5-spd (stick)

  • Thanks for the alternative possibility. I'll check out the 5 year loan option. It may work out better for me.
  • bougth a 2006 rsx type s about a month ago at mike harveys acura in burlingame near south san francisco. paid 27,500 after taxes. this was before i found this site. the sales person was a female but could not remember her name. i now realized that she lied to me in order to make the sale. i told her that this was my first time purchasing a vehicle and she used my naiveness to take advantage. she said that i was only paying 500 over invoice, but now that i think about it, i think i problably paid more than 2500 over invoice. she also tricked me into buying acura's extended warranty for 2500 dollars. she said it only cost 2000, but after i went home and looked through the paper work, i was actually charged 2500 for the warranty. she also told me that insurance for this vehicle is very cheap for this vehicle,she said that it would only cost 150 dollars a month for full coverage. i am now paying 500 dollars a month. i have a clean driving record with over four years of experience. it seems like this dealership is very manipulative and will even lie to you in order to make a sale. if you are thinking of buying a car in the bay area, i highly advise that you do not buy any of your vehicles from mike harvey acura in burlingame because of their manipulative sales people.
  • nippononlynippononly SF Bay AreaPosts: 12,691
    Whoa! So sorry to hear you had such a hard time with the buying process! :-(

    You aren't really paying $500/month (= $6000 per year) for insurance, are you?

    And it sounds like if $2500 of that $27500 was the warranty you bought (which you are correct about - that was a rip-off), then at least you bought the car below sticker, maybe as much as $1500 below sticker, so at least you didn't get ripped off there. You could have got them lower, but not a whole ton (I am sure they would have sold at invoice if you had stuck to your guns).

    2013 Civic SI, 2009 Outback Sport 5-spd (stick)

  • dude telling them you are a first time buyer was your first mistake. second mistake was not reading the paper work and not doing your homework. live and learn
  • well i did some insurance shopping and the lowest rate i got is 320 a month with allstate. the acura care extended warranty was $2000, but they also charged me an extra $595 for an aquisition fee. not too sure what that is. both of the fees were under "optional service contracts" on the receipt. i guess i did jumped the gun a little bit with this car purchase. my excitement for the type s got the best of me. maybe i should have gotten the base model. but i have to admit that the type s is one sweet car.
  • actually i am only paying 280 per month for insurance with allstate. the reason it was 500 a month was because farmers insurance charges a really high premium for some reason. the only thing i really hated about my buying experience were the dishonest sales people at the dealership. i guess i should have expected that some people can get really desperate enough to lie in order to make a sale.
  • nippononlynippononly SF Bay AreaPosts: 12,691
    in this day and age that should be your presumption when you walk through the door: that they will lie through their teeth to make a sale at the most advantage to them.

    And of course, there are some salespeople out there who are honest, ethical, upstanding citizens, and I have no wish to offend them, but the group viewed as a whole is a bunch of sharks.

    As for insurance, I was paying $1285 per year for my RSX and thought it was unacceptably high. $3360 per year would have been out of the question. Still, you got a great car at a decent price, with a long warranty, so forget the financial stuff and enjoy it to the max! :-)

    2013 Civic SI, 2009 Outback Sport 5-spd (stick)

  • WOW Dridmang, I too just had an unfortunate experience at Mike Harveys Acura.

    This happened within the last week. I purchased an RSX Type S, the sale and everything went really well. A couple of days later, the sales lady calls me and tell me that my lease did not get approved so I had to return the vehicle to the dealership. The sales lady told me that I would get my down payment back so I wasn't very worried. I was a little disapointed but not too surprise given that my credit is fairly new. My other option was to finance the vehicle, but I just needed another month to save up some money, and I would have came back to purchase the vehicle.

    Two days after I returned the vehicle, the sales lady calls me up and tells me that we have a problem. I drive down to the dealership and they tell me that the vehicle could not be rolled back and that my only choice were to keep the vehicle or get the base model. I told her that I needed another month to save up for the down payment, but the sales lady told me that I had no choice, "either I purchase a vehicle NOW or I take back that Type S" :confuse: .

    I kind of figured what she was trying to do becuase it was very close to the end of the month. So I didn't believe her. They also sold the vehicle that I returned at the same time the saleslady was telling me that I had no choice but to keep the vehicle or take another one. (not cool :mad: )

    Suffice it to say, I will still get an RSX, but not from Mike Harvey Acura. :sick:
  • Yes, pocari, Acura is running a special lease program on the 2006 RSX right now. If you were to lease a 2006 Acura RSX Type-S through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00080 and 58%, respectively. The numbers for a 39 or 42 month lease of this car should be .00080 and 55%.

    Car_man
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  • Hi brian5054. The lease money factor that you were quoted is in line with Acura's special lease money factor for this car. That is a good sign. I just estimated what this car's lease payment should be using Acura's current lease program and came up with a zero down, pre-tax monthly payment of around $293. If you were to add the $1,497 sales tax to this car's capitalized cost, it would bring the monthly payment to $336. As you can see, the payment that you were quoted is a little higher than this. If I was in your situation, I would want the dealer to explain to me why this is the case. Also, I don't know what the supply of RSX Type-S models is like out there, but $500 is not much of a discount on a car that has a spread of over $2,000 between its full MSRP and dealer invoice prices.

    Car_man
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  • on a 2.9% APR, if translated to lease money factor, what is that amount be if translated in money factor? is the lease money factor somewhere around 0.0009 or something?
  • kyfdxkyfdx Posts: 28,679
    Divide by 2400....

    2.9% / 2400 = .0012 approx.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi Car_man, Thanks for the reply. My payment of $358 vs your calculated pmt of ~$336 amounts to a difference of about $22*36=$792. ~$200 of this is Title, License, Inspection etc... All legit costs, I believe. The dealer also stated that there was a $595 "origination" fee. I don't know how standard this fee is but I accepted it and took the deal. They also threw in free oil changes for two years. I feel fairly comfortable about this deal, even with the low MSRP discount of $500, since I shopped around at two other area Acura dealers and they could not match the deal. I think these cars are pretty sparse in my area since I've been driving the car for awhile now and have not seen a single one on the road other than mine. It is fun to drive...
  • I leased an RSX 5M w/ leather @ Vandergriff Acura (Van Tuyl). They use the 4 square sales method - trying to negotiate on pmts - but I stayed on vehicle price (forcibly) ;) . Basically the agreed upon price somehow changed on the contract - I caught the "error" and the F&I mgr took over to fix :blush: it. Essentially the pmt went from $386 to $266 when done right. Totally loaded up the back-end! So here is the deal not a great deal but the market is tight here so I feel pretty good about it.

    Gross Cap - $23529.25
    Adj cap after trade and dwn pmt $20471.26
    Rent charge 1049.9
    Residual $11928.60
    Term 36 mos 15k mi. Pmt $266
  • Dude i got as 2002 Types and i only pay 206 a month with ahorrible record look around
This discussion has been closed.