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Acura TSX Lease Questions

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Comments

  • rsd27rsd27 Posts: 4
    Re my post above #359 - Can you look it over? Do you think it is a good deal? It appears that I am being taxed on:
    the 1st month payment at $299, plus the $595 acquisition fee, plus $700 cap cost reduction(cash), plus the $181.25 dmv, doc fee and inspection fees plus of course the $10,465 ($299 X 35 mos)for taxes at .08625 in the total amount of $1052. Is this allowed? I thought I read that the acq fee is not taxable? What about the cap cost reduction and doc/dmv/inspection fee? Can they be taxed as well? Thanks for your help.
  • Hey, could you give the dealership in Indiana you got this quote from? I am working with dealers in Indiana as well. Thanks
  • bvdj84bvdj84 Posts: 1,721
    Hey hey!
    Cool, of course I'll do that. I got the quote originally from another dealership, but I got Ed Martin to go low on the price because I showed them that I have gotten all my quotes by email, therefore I have documentation on them. I could get into a TSX with navi for $349 plus tax, for me, thats looking like $360 or so a month when set and done, thats really good. If you want the base its like $329, but hey, get the navi, its not much more. I have been having dealerships competing against each other, only because I have it all in emails. Ed Martin, I believe is down in INDY. I still need to test drive the car. I have it narrowed down to the TSX or the 07 accord with NAVI. Which are both at the same price a month, but the TSX is priced higher as far as MSRP. This quote came from a different dealer from Chicago, but Indy is closer, and Ed Martin said they would beat it.

    Please let me know if I can help you out any more, or you need documentation. Also let me know what deal you got, and car.
  • bobw92bobw92 Posts: 11
    The $299/month 36 month 10Kmiles/year Lease Special from AHFC seems like a great deal for a non-Navi TSX. I'm looking to lease a TSX with Navigation. Does AHFC have a similar deal for the TSX with Navi? If so, what would be the payments? I looked at Acura's website, and all I can find is the "Featured Special Lease" for the non-Navi.

    Robert
  • Im looking to lease a TSX without navigation in Ohio. Can someone provide me with residuals and money factor for a 24 month lease with 12k and 15k miles? Also a 36 month lease with 12k and 15 miles? Thanks in advance.
  • 36 Mo. 12k Miles:

    residual $17,256 60%
    money factor .00110

    36 Mo. 15k Miles:

    residual $16,681 58%
    money factor .001100

    Sorry, I don't have the 24mo. lease figures
  • ausdtechausdtech Posts: 37
    Robert, heres the full info on current TSX rates from roadfly. Just FYI you can do substantially better than the advertised deal in most areas (as long as they are in a region that qualifies for the tsx lease deals check your zip codes)

    ACURA Captive Lease Programs – Effective 4/9/07

    Programs shown in BOLD may not be as competitive as a comparable bank lease program. Click on a vehicle name to compare current bank lease programs through LeaseCompare.com.

    2007 Acura TSX Sedan
    24 Month – Residual 67% of MSRP – .00127 Base Rate
    36 Month – Residual 59% of MSRP – .00127 Base Rate
    48 Month – Residual 49% of MSRP – .00240 Base Rate
    60 Month – Residual 39% of MSRP – .00250 Base Rate

    2007 Acura TSX w/Navigation Sedan
    24 Month – Residual 65% of MSRP – .00127 Base Rate
    36 Month – Residual 58% of MSRP – .00127 Base Rate
    48 Month – Residual 48% of MSRP – .00240 Base Rate
    60 Month – Residual 38% of MSRP – .00250 Base Rate

    Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
  • Hey, I ended up getting the black TSX with Navi. I got the dealer down to $125 under invoice. I'm doing a 36 mo. lease with 15k miles a year. I'm paying 0 down and the monthly payment came to $383 with tax already included. I also had him down to $364 with tax included for 12k miles a year and Navi.
  • newguy44newguy44 Posts: 3
    This forum has helped a lot!!
    I am extremely new to leasing and I am looking to lease this car for my wife. I have a few questions.
    I am happy with the 299 a month and I don't mind paying the 2100 at signing but from what I have gathered this does not include tax. So the monthly payment is really 324 in NY state?? Is this correct?

    I would like to stay around 300 a month but I need the 15k miles. Does this seem impossible because of the tax issue? Is there any way around that? Maybe paying it upfront?

    Thank you
  • dad23dad23 Posts: 430
    I picked up my new TSX this past Monday, love, love, love the car!!! I got the Carbon Gray with quartz interior, non-navi, automatic. Did the 36 month, 12K lease, only put first payment down, rolled in acq fee, upfront taxes, etc for a $375/month payment.
  • Where did you buy the car? I got a 36 month, 15k lease with Navi with only first payment down for $386 a month and was quoted $354 for the same details with no navi.
  • dad23dad23 Posts: 430
    Mile High, where were your quotes from and did they include tax? I also live in a county where they require taxes up front, not in the payment, so those were rolled into the cap cost.
  • I'm in Ohio. Price was with tax included and it was also rolled into the cap cost.
  • dad23dad23 Posts: 430
    Gotcha...we were actually looking at Accords first, but not seeming to be able to get any of the low prices others on these boards were for either vehicles. I love the car though :)
  • scraggsscraggs Posts: 6
    I was told by the finance guy at an Acura dealership today that the new money factor is .00270, which is more than 2x that of the old .00127. Was he jerking me around? My credit is 750+.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rsd27. You never mentioned the selling price or MSRP of the TSX 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 of this deal if you let me know what these numbers are.

    The rules for how sales tax is calculated on leased vehicles vary from state to state. If you tell me what state you are in, I may be able to give you an idea of how it should be calculated in your neck of the woods, or at least direct you to a site that would have the answer for you.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bobw92. Honda replaced the special regional lease money factor that it was running on the 2007 TSX in July with a special regional lease cash promotion. If you are in one of the states that this special program is available in, you can use $1,000 lease cash to negotiate an attractive capitalized cost for the TSX that you want. You will have to use Honda Finance's standard money factor to calculate your monthly payment. Let me know what state you are in and I will tell you if you are in an area that this special offer is available in.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey kidcloudkiker. Through July 31st, Honda Finance's buy rate lease money factor and residual value for a 24 month lease of a 2007 Acura TSX without navigation with 15,000 miles per year are .00385 and 63%, respectively. The numbers for an otherwise identical 36 month lease are .00290 and 56%. If you were to lease this car with only 12,000 miles per year, its 24 month residual value would be 1% higher and its 36 month residual would be 2% higher. Acura is providing a special regional $1,000 lease cash incentive that can be used to reduce the capitalized cost of leases of this car in certain states. If you tell me what state you are in, I can let you know if this cash is available in your area.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You are correct, newguy44. Acura's advertised lease payments do not include sales tax. So the real-world payment in states that charge sales tax on leased vehicles would be a little higher than the one that it is advertising. Having said this, I would not be surprised if you were able to negotiate a lower selling price on the car that you want than the one that was used to arrive at the advertised payment. If you are able to do so, you will be able to lower your monthly payment including tax closer to the advertised payment.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Unfortunately, scraggs, what you were told is correct. Acura replaced the special regional lease money factor that it was offering on the 2007 TSX in June with $1,000 lease cash. If you want to lease an '07 TSX through Honda Finance in July, its buy rate standard lease money factor for consumers who qualify for its top credit tier and pay a security deposit at lease signing is now .00290.

    Car_man
    Host
    Prices Paid Forum
  • bobw92bobw92 Posts: 11
    Car_man,

    I live in New Mexico
  • revs1revs1 Posts: 1
    hi car man--

    I'm looking to lease an '07 TSX w/o nav. Is the special $1,000 lease cash program available in Delaware???
  • I'm in Ohio looking to lease a 2007 TSX. Any info for the residual and money factor for the month of August on a 24 month, 12k and 15k mi lease? Also a 36 month, 12k and 15k mi lease? Thanks.
  • I am looking at a 2008 TSX w/Navi. They said $2500 down and $365 a month total (tax included) for a 36 month lease and 12k miles. Is this good? I haven't even started to deal or anything but they threw that at me as I was walking out the door. All advice is welcome!
  • teddyohteddyoh Posts: 7
    What the heck!? I was quoted the same terms for a 2008 TSX with Nav. $2500 down, 36 months at 12k miles. They specific said they don't make deals on the new models other than the current incentives. My per month quote was $439.

    Either you are living in a state without taxes, or I am getting royally screwed. I know my residual was 62%, but the manager was out and the salesman didn't know the current money factor.

    Should I walk away from this deal?
  • I am new to leasing. It's still about the price of the car, right? I'm confused by the language in the current Acura "offer". The ad starts with MSRP of 28,860, less cap reduction ("which may be paid by dealer contribution") results in net cap cost of 26,590. This doesn't seem like a great deal relative to invoice when there's $1000 in dealer incentives out there. Plus, what about the $1,595 that I'm supposed to pay as part of the "due at signing" amount?
  • Does anyone know the august program. Junes was awesome and july;s sucked. Im looking at a used tsx but would love to get into something new
  • I live in NY and it was my first lease. Got an '08 w/o nav for the $1595 down and $299/month. I had to pay tax. My total was $3722 at signing for everything.
    Hope this helps someone get a good deal.
  • delta737hdelta737h Posts: 603
    confused,

    Here's the ad...

    Offer valid through: 9/4/2007
    FEATURED SPECIAL LEASE: Closed-end lease for 2008 TSX 5-Speed Automatic Transmission (Model CL9688JW) for $309.00 per month for 36 months with a $1,595.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,499.00 total due at lease signing (includes first month's payment, security deposit, AHFC upfront acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

    Subject to limited availability. Through 9/4/2007, to approved lessees by American Honda Finance Corp. Closed end lease for 2008 TSX 5-Speed Automatic Transmission vehicles (Model CL9688JW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $28,860.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $26,590.23. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $11,124.00. Option to purchase at lease end $18,470.40. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 10,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 10,000 miles/year. See dealer for complete details.
    ____________________________________________________________________

    According to this Ad, there is $2499 due at lease signing which includes a $1595 cap reduction (i.e., down payment). The difference is $904. This difference includes 1st payment ($304), security ($325... $304 round up to the next whole $25). So, by default, one can logically conclude that the acquisition fee is $275 which is not very much by today's standards. Hmmmmm...

    One can also infer that the residual factor is 64% (i.e., 18,470.40/28,860.00 = 0.64). In other words, the Ad implies a residual buyout if you choose to exercise your purchase option at lease end.

    Now, when one couples the $309 with the net capitalized cost (an outdated term) of $26,590.23 and the $18,470.40 residual value using the money factor formula, one computes a money factor of 0.001852. This looks very funny to me because I've never seen a money factor with non-zero digits exceeding three.

    The money factor formula is used to compute the payment...

    Payment = MF x (AC + RV) + (AC - RV)/Term (months)

    where:

    MF = Money Factor
    AC = Adjusted Capitalized Cost (Net Capitalized Cost is the old FRBB's Reg. M terminology and is no longer applicable).
    RV = Residual Value

    And so, we have...

    309.00 = 0.001852 x (26,590.23 + 18,470.40) + (26,590.23 - 18,470.40)/36

    Again, the 0.001852 money factor looks very funky to me. I'm anxious to see exactly what the new money factor for August actually is because something just doesn't seem right. My best guess is that the new MF is 0.00185 and the actual payment is $308.91. Perhaps the Ad rounded this to the next whole dollar or $309.00 but even this seems very strange. Usually, they don't do that.

    The important thing to recognize is this...

    If you must pay the $1,595 cap reduction, the selling price of the car is the MSRP or $28,860.00. If the dealer pays the $1,595 cap reduction, then, effectively, you're only getting a $1,595 discount off of the MSRP... doesn't seem like a very good deal to me. As far as I know, invoice pricing is not available. See the following links...

    http://www.edmunds.com/new/2008/acura/tsx/100890849/options.html?action=1&x=68&y- - - =13

    AND

    http://www.kbb.com/KBB/NewCars/PricingReport.aspx?VehicleId=OC8xMi8yMDA3fDE5NjQz- - - OA%3d%3d&PCFVehicles=&ManufacturerId=2&VehicleClass=NewCar&ModelId=6&Path=Pricin- - - g&YearId=2008#survey

    There are no incentives on the '08's as far as I'm aware...

    http://www.edmunds.com/new/2008/acura/tsx/100890849/incentives.html?vdp=off&setz- - ip=44256&state=OH

    If you are serious about getting this car, I would INSIST that the dealer pay the cap reduction which amounts to discounting the MSRP by $1,595. In fact, I would seek a $2,300 discount which would bring your adjusted cap to $26,560 assuming you're not financing anything. Otherwise, without knowing invoice pricing, I would seriously question whether or not you're getting a good deal.

    ???... let me know.

    Hope this helps.

    John
    Medina, Ohio

    PS: Do a search on delta737h and examine my posts that include a sample lease proposal. It's always wise to create a one-page lease proposal as they save time, money, and aggravation. Good luck!
  • delta737hdelta737h Posts: 603
    Last year, I was very vocal about an AHFC Ad for a Honda Accord. The part that I complained about is replicated below.

    MSRP $21,375.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $18,052.58.

    This is very misleading and suggests that the selling price is $18,052.58. Net Capitalized Cost is an outdated Reg. M term that was replaced with Adjusted Capitalized Cost in 1999. A local Honda Dealer agreed and said he would be willing to sell the car for $18,052.58 BEFORE any cap reduction.

    Dealer contribution can be construed to mean dealer discount and NOT cap reduction. Interestingly, I notice that since I complained, AHFC changed the wording of this year's ACURA TSX Ad to...

    MSRP $28,860.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $26,590.23.

    Notice the difference! This year's Ad is very careful to define dealer contribution as being the capitalized cost reduction whereas last year's Ad didn't do that.

    One really needs to be careful when reading advertisements. ALWAYS hold the finance captives accountable and responsible for the claims and representations they make.

    John
    Medina, Ohio
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