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Acura TSX Lease Questions

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  • awoodrowawoodrow Posts: 3
    that is exactly it, 36 month lease with 15k per year. I live in MI, so hopefully this lease program applies. If not, Ohio and Indiana are very close and they would definitely be options. thank you very much for your help!
  • nickooochnickoooch Posts: 6
    just got quoted 329/mnth.. out of pocket is just tax title and tag.. 36k miles..36mnths.. is this a good deal?.. :confuse:
  • rujorujo Posts: 132
    1) Is it $329/mo plus tax?

    2) Is the first month's payment rolled into the lease or does it have to be paid upfront along with TT&L?
  • nickooochnickoooch Posts: 6
    "Your TSX is in stock , your requested lease for 36mths/12k miles with 1st mth,tax,title is $339+tx...........".. this was the dealers exact reply.. whataya think? thanks
  • rujorujo Posts: 132
    This means the "selling price" is about $27,100. (It's possible that dealer document fees are in there, but they're usually in the upfront payment - and they shouldn't be more than $100. Selling prices here in the SF Bay Area are generally in the range of invoice to invoice less a few hundred. Invoice is $26,451.)

    In any event, that monthly payment works out to a cap cost of approximately $27,695. Since the acquisition fee is $595 it means you're paying $27,100 for something. Which is definitely high in my market area - conditions in your area may be different.
  • mach1010mach1010 Posts: 3
    Hi Car_man,

    can I have the May Residual and MF in CA for a standard TSX Auto/Non-Navi

    for 36 months/12,000

    and for 36 months/10,000

    also what is the lease program for May in CA

    Thanks!!
  • serfyserfy Posts: 1
    I was looking to purchase a used 2005 TSX. The prices range from 20K - 25K. I'm in LA and used prices seem to be a few thousand higher here than in the mid-west, I was actually prepared to fly out to Colorado Springs to pick up an '05 with 19K for 21K, but then I took a test drive in an '07 with NAV. Now I gotta have it!. The dealer the salesman suggested I lease a 2007. For 2K down and $310 it sounds like a good deal. I always been a staunch "purchase my vehicle" kind of guy so I'm skeptical. I don't like the idea of having zero value at the end, but it allows me to keep my cash right now and I'm in a bit of a cash flow crunch.

    How do I go about getting the best deal on a lease. What are the negotiating points? Since Acura is offering 3.9% financing AND lease incentives doesn't that mean they have a glut of inventory?
  • rujorujo Posts: 132
    The first, and single most important, negotiating point on a lease is the "selling price" of the car. Negotiate it just as if you were buying - check this forum and the prices paid forum to see what kind of selling prices/quotes others have been getting. Seems many are now getting below invoice deals.

    What does the proposed $2K down include? Generally, putting the least amount down makes sense - advertised deals almost always include a hefty down payment so they can show a low monthly payment. Good advice from this forum says if your car is totaled you may not get back your upfront down payment - insurance settlement may merely pay what's owed on the lease.

    (When I'm calculating lease payments on different cars - to make comparisons easy - I add the negotiated selling price and the bank acquisition fee together to arrive at the cap cost. This leaves the first month's payment plus tags and title and dealer document fees to be paid upfront.)
  • ausdtechausdtech Posts: 37
    Hi all, I was wondering if anyone could tell me if there would be a problem getting an aftermarket alarm installed on a leased TSX. I know leasing severely limits changes you can make to the car but wasnt sure if this would be allowed or not.

    Reason being:

    I've read a number of problems in my area with TSXs being broken into by someone or a group with a master key which totally defeats the built-in security.

    If this is doable would it need to be through the dealer?

    If i had it done by an outside shop after leasing, would I need to remove the alarm at the end of the lease?

    And lastly, would the cost of this or any other additional accessories I got on the car be taken into account when calculating the residual or is it just a % of the straight MSRP?

    Thanks for your feedback
  • gforce11gforce11 Posts: 225
    Hello all,
    Recently I looked into leasing a Mustangs, however they are terrible lease vehicles...($490/mo, are you kidding me? I'd be cruising with a G35 at that price). Anyway, so my 2nd choice is the TSX. Here is what I've been getting:

    First thing to note, Acura has ended production on all 07 TSX (I believe new 08 is rolling out at an unannounced date and there is talk that it'll sport the RDX's 240hp engine). With that said, here are the deals I am getting in So Cal.

    07 TSX w/o navi:
    MSRP 28760
    Lease price 26200
    MF .00110
    Residual 60%
    Term 36 mo
    Miles 12k
    Approx mo payment $339 (after 8.25% tax)
    0 down

    07 TSX with navi
    MSRP 30760
    Lease price 28200
    MF .00110
    Residual 59%
    Term 36 mo
    Miles 12k
    Approx mo payment $376 (after 8.25% tax)
    0 down

    Hope this helps!!!
    I'm hoping to pick mine up this weekend (assuming they will not jacked me on my trade in)
  • gforce11gforce11 Posts: 225
    ausdtech,
    Typically, anything you do to your vehicle requires you to remove at end of lease. Specially if the modification is visible and done by a third party. To stay on the safe side, I would speak with the dealer ship about getting one installed by them.

    On another note, you are leasing this vehicle, so just get gap coverage if you live outside of NY. (in NY, it is included in the lease according to Honda Financial Services website). gap coverage is fairly inexpensive and covers theft and total loss due to damage. I just hope you didn't put any money down on your car.
  • ausdtechausdtech Posts: 37
    Thanks for the response. I haven't leased the vehicle yet, so I'll check into options available through the dealer when I get to that point, although typically they try and charge you much more than an aftermarket shop would.

    In terms of the gap coverage, I'm not so much worried about the car being stolen, the thefts in the bay area have been items from the car generally not the car itself. Problem is that I have a laptop and other tools for my job with me almost all the time. Since the thieves in my area have had a key, even locking my gear in the trunk wouldnt help if they could bypass the stock alarm with the key (using it to roll down the windows) and then use it to unlock the trunk.
  • hellye1hellye1 Posts: 22
    Hey what state/dealer is that? Is that without mentioning that you have a trade?
  • gforce11gforce11 Posts: 225
    Power Acura in Torrance California. Supplies are dwindling from what I'm hearing (for non-navi). I believe they have like 6 left or something like that. Yes, the deal excludes my current car.

    I'm picking up mine tomorrow night. I plan to roll-in about $1000 (last payment & disposition) of my current car (A4) into the new lease. (I'll probably pay off my last payment as part of the down payment.) Should bump my monthly like 20 bucks more. Next time, i'll watch closely for "disposition fees". Then again, leasing from honda is nice because they don't charge you that. The deal runs through end of June if you have a 710 or higher on your Fico.
  • trae73trae73 Posts: 5
    Dear Car Man,

    Does Virginia qualify for the current lease deals on the TSX? Please provide the details on the lease structures under the current promotion (and if VA is applicable)

    I am looking to lease an 07 TSX w/ Navi.

    Thanks.

    Trae
  • carstylecarstyle Posts: 5
    I am looking to lease standard (no navi) 2007 tsx in nyc 3-state area. Any suggestions?
  • uofafan7uofafan7 Posts: 2
    Here is what I negotiated at the Chicago dealership today. I have not signed anything yet

    2007 Acura TSX with navigation black/black
    15,000 miles for 36 months
    $27,600 purchase price
    57% residual value
    .001100 MF
    $413 a month with 7.5% tax

    The salesman told me that the residual value and interest rate were fixed by AHFC. What do you guys think of this deal? Is it true that you cannot negotiate residual value and interest rate?

    Thank you for your help
  • rujorujo Posts: 132
    1) Yes, residual and money factor are set by AHFC. Unlike BMW dealers (who often bump up the BMW Financial Services money factor and also the acquisition fee), Acura and Honda dealers seem to play pretty straight with these numbers.

    2) At first I thought something was wrong with the payment you were being quoted, based on the numbers you provided. Then I remembered you have to pay sales tax on the vehicle purchase price (even on a lease) in Illinois! If that's the case the numbers work out ok (6 or 7 dollars less than the 413 you mention - but there's probably something else being added into the cap cost to account for that difference).

    3) So - deal seems good to me!
  • iceycherryiceycherry Posts: 2
    I am totaly new to the leasing option. i live here in SC and more than likley going to be dealing with BRADSHAW acura(greenville, SC). 07 TSX w/Navi. i was thinking about putting maybe around 6K-8K downpayment(i have around 9K cash). OF COURSE i will be buying the car after the 36month lease was up. I want a lower car payment. and a lower buyout price. Can you haggle down the actual selling price to lower payments and buyout price. i am looking for the TSX i want is around 31K round about figure. What exactly is GAP insurance and do i need it? Is there ANYTHING you can help me with ideas, thoughts, QUALITY/SOUND advice. pleae help me and my wife. i dont always trust salesmen(used to sell used at a local car lot)(IM NOT SHADY :P).

    WHAT would my best option be on being money smart in getting the 10K 12K or 15K mileage lease. I am buying the car after the 3 year lease so i dont have to worry about the mileage; which one is cheaper(overall) and better for my situation???

    Please help
    THANKS
    justin
  • rujorujo Posts: 132
    1) If you buy the car at lease end there will be no more than about $40 difference in your total cost, regardless of whether you do a 10, 12 or 15K mi/yr lease. However, if there's any chance circumstances could change and you'd turn the car in at lease end . . . it makes sense to accurately estimate the number of miles you'll drive. Don't underestimate, because it's cheaper to "buy" the miles upfront than at lease end. OTOH, don't overestimate because you'll be paying for mileage you don't use!

    2) The experts advise putting minimum $$ upfront on a lease. Two reasons: a) If your car is stolen or totaled the insurance company may end up paying off only what is owed on the lease - you may not ever recover your upfront money. b) The interest rate on many leases is very low - if, for example, you do a lease with an effective interest rate of 3% it makes more sense to put your upfront money in the bank at 5% rather than make a large down payment.

    So, generally speaking, you'd negotiate the selling price of the car and then add Acura's $595 lease acquisition fee to arrive at your "cap cost". Your lease payments are based on this cap cost, and the residual and money factor (see below). Upfront you'd pay only tags, title, dealer document fees and your first month's payment.

    3) Negotiate the selling price of your TSX, just as if you were buying it! (Check out this board and the Prices Paid forum to get a handle on competitive prices.) This is probably the single most important thing to know in leasing a car. So, yes, you can haggle down the selling price. However, your buyout price - which is called the "residual" - is set by Honda Finance (assuming you're leasing thru them) and cannot be negotiated.

    4) There are some special TSX lease programs going on right now - but I believe they are regional and I can't see anything on Acura's website showing a special lease deal in SC. Car_man or dwynne may have more info on this. In any event, in addition to negotiating the selling price of your TSX you should get the from the dealer the "residual" (a percentage of the MSRP) and the "money factor" (a different way of saying "interest rate"). With these pieces of info I and others on this board can evaluate your deal and offer additional advice, if you wish.

    5) Oh - unless I'm misinterpreting something in my Acura lease contract, GAP insurance is effectively provided for if you lease thru Honda Finance. (This just means Honda agrees to accept your insurance company's payoff if your car is stolen or totaled, even if that payoff is less than the balance owing on your lease.)
  • carstylecarstyle Posts: 5
    Here is what I negotiated at the Brooklyn dealership today. I have not signed anything yet but they guy was stubborn to go lower than that, claiming he and his boss are already loosing.....

    2007 Acura TSX without (navi) royal blue/black
    12,000 miles for 36 months
    $26,900 purchase price
    60% residual value
    $350 a month (tax included)
    0 down
    1,100+something at sign up (bank fees, tax, etc)

    thoughts?

    Thinking of going to NJ on may 31 to get a better deal... i'd appreciate suggestions, thoughts about this as well. thx
  • rujorujo Posts: 132
    The numbers don't quite add up - there's some hidden or excessive fees, or you're not getting the .00110 Preferred Tier money factor. BTW, I'd recommend rolling the "bank fee" (which I assume is Honda's $595 acquisition fee) into the lease rather than paying it upfront.

    Based on reports from around the country I think you're right to assume you can get a better price elsewhere (if you can find your color combination). Dealer is definitely not losing money on this deal!
  • carstylecarstyle Posts: 5
    Is it worthwhile to lease a car in Virginia (vicinity of Virginia Beach) and bring back to ny, in terms of the prices, local taxes, etc?

    thx
  • carstylecarstyle Posts: 5
    Is it fair to ask for $299 a month and 0 down payment, rest of parameters are the same as mentioned 2 posts ago? thx
  • rujorujo Posts: 132
    To get to a $299/mo. payment (with only tags, title, dealer doc. fees and first month's payment upfront - which, if you were in California, would add up to about $600):

    selling price $25,700
    acquisition fee $595
    cap cost $26,295
    residual $17,256
    money factor .00110
    monthly payment $298.99 plus tax

    There are markets where you could negotiate the price to $25,700 or even a bit lower. (There's some factory-to-dealer cash this month.) Don't know if you can get it this low in your area, but $25,900-26,100 really ought to be doable from a motivated dealer (300-500 below invoice). But markets vary, and individual dealers within a market can vary significantly (there was a recent post listing a bunch of SoCal deals/quotes - big differences from dealer to dealer).

    Some folks have reported success taking a one page lease deal proposal to the dealer. Once they see you know what you're taling about in terms of residual, cap cost, money factor, etc. (because it's accurately spelled out in your proposal) and that you're ready to do the deal at your specfied selling price - they may be a lot more likely to get down to serious business.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yep, rujo. Manufacturers often enhance vehicles' money factors as the model progresses to make up for the gradual decline in vehicles' residual values and maintain the same advertised payment.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello tijuana19. This car's lease program varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura TSX without navigation with 15,000 miles per year are .00110 and 58%, respectively in California for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey awoodrow. You're in luck, Acura's current special lease program for the '07 TSX is available in Michigan.

    Car_man
    Host
    Prices Paid Forum
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