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Acura TSX Lease Questions

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  • CarMan:

    Can you help me sort out the conflicting information that I am getting on Honda Financial lease rates for the TSX?

    Looking at a non-nav TSX for 36 months; 12K miles per year. Web sources (including you in previous posts) and dealer agree on the residual (63%), but I am getting different stories on the money factor. I have read in this forums (and others) that AHFC's base MF for top tier rates(I qualify for top tier rates) is 0.00260; the dealer I am purchasing through says the best rate is 0.00310.

    Which is correct and why won't the dealer budge from the higher MF? Since there is a substantial difference in the total lease payments over the term between the two, I'd like to sort this out before closing the deal.

    Thanks.

    Karl
  • Welcome shaytaan. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    The main number that you need to focus on during your negotiations is this car's selling price. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Take a look in the following discussion to get a feel for how much you should pay for this car right now: "Acura TSX: Prices Paid & Buying Experience". Once you have an idea, let me know. This information, as well as the MSRP of the car that you are interested in, will enable me to estimate what your lease payment should be. If I was in the market for a TSX, I personally would also take a close look at the BMW 3-Series, Audi A4, Mercedes-Benz C-Class, and Infiniti G35, all of which have more lease support available on them than the TSX does right now.

    Car_man
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  • Hello hoyarenee. 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 of this deal if you let me know what these numbers are.

    Also, you may want to consider switching to a zero down lease rather than making a $1,700 down payment. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your TSX would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all.

    Car_man
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  • Hi matt19hsc. It is difficult for me to say whether this is a good deal without knowing what the MSRP and selling price of this car are. I also need you to tell me how long this lease is. Let me know, and I'll tell you what I think.

    Car_man
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  • Hi professorfrink. Yes, the lease money factor that you were quoted to lease this car is right in line with Honda Finance's buy rate money factor for a lease of one with a waived security deposit. That is a good thing because it means the only aspect of this deal that you have to worry about is your car's selling price. The TSX "Prices Paid" discussion, which you have already visited, is an excellent place to get an idea of how much you should pay for this model right now.

    As far as doc fees go, store policy may prevent your salesperson from waiving your car's fee but they can easily lower your selling price by the same amount. Look at doc fees as part of your car's total price. If you feel that the total price of this car, including all of the little fees that your dealer tries to tack on is fair then don't worry about how the price breaks down. If however, the fees make the car more expensive than you should be able to buy it elsewhere try to negotiate a lower total price.

    Car_man
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  • Hi Karl. Unless your credit is not in good shape, this dealer is lying to you. Honda Finance's current buy rate lease money factor for consumers who pay a security deposit and qualify for its "Super Preferred" credit tier is .00260 for 36 month leases. If you opt to have your car's security deposit waived, it would increase its money factor by only .00010. It appears as though the dealer that you are working with may be trying to mark your car's money factor up to add additional back-end profit to your deal. Tell them that you are going to lease from a different dealer if they don't use the buy rate money factor. That should get them to change their tune pretty quickly. If not, shop around I'm sure that you will be able to find a dealer that is willing to work with you.

    Car_man
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  • Hi Car Man,

    I looking to lease an 06 TSX w/nav. Can you supply the residual and money factor. Thanks.

    Rich
  • What was your end result? I live in Atlanta and I'm about to go shopping. Very curious to hear about your experience. You can also e-mail directly, if you'd like.
    Thanks,
    DevilInLaw
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings icenet. This car's money factors and residual values vary depending upon how long you lease them for and how many miles per year you are allowed to drive. Since you never mentioned either of these things, for now I will assume that you are interested in a 39 month lease with 15,000 miles per year. Let me know if you want a different term or mileage allowance. If you were to lease a 2006 Acura TSX with navigation 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 .00260 and 59%, respectively.

    Car_man
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  • auralaural Posts: 1
    Help please. Can you please figure a TSX (no nav) lease: 3 year, 12,00 miles per year, cap cost incl delivery =$26,541, no security, no cap cost reduction, 6% Ct tax, highest tier credit. Please give MF and residual figures. Thanks
  • :confuse: hey car_man,

    i am located here in sunny south florida, and i got 2 cars on order that will both be here in about 2 weeks, and im trying to sort out the lease quote confusion.
    one car is obviously a TSX non/nav, the other is an Audi A4. here is the breakdown of what i was quoted.

    Acura:
    lease term: 42 months, 15,000 miles
    selling price: $27,250
    out of pocket: $1450 (first month pmt & fees)
    monthly pmt: $405
    a-spec ground effects: $1400 or $34 more a month
    monthly pmt: NOW $440
    the salesman ran credit and said i'm top tier, but wouldn't tell me the rate nor the residual. also said that 42 month lease is the best deal.

    now on the Audi A4
    lease term: 36 months, 15,000 miles (36 mos is best deal)
    selling price: just over $30,100
    out of pocket: $750
    monthly pmt: $454
    i'm not factoring it in, but as a mental note, audi includes all schedule service during the lease term, so that would save me around $15 a month as well.

    I'm no math wiz, but it seems that if i even the 'out of pocket' by rolling $700 from the acura into my pmt, i will end up paying about $455 for the tsx. That turns out to be about even with the A4 which is priced about $1500 - $2000 more! how is this possible?? is there a better lease term? 36 or 39 months? is acura off on their quote, or am i getting an amazing deal from audi??
  • psoarespsoares Posts: 1
    hey car_man! :P

    I am located here in Fort Lauderdale and i just leased one TSX non/nav. Since this is my first lease, can you tell me if I have a good deal? Those below are the terms I have:

    Lease term: 48 months, 15,000 miles
    Selling price: $27,250 MSRP: $29,500
    out of pocket: $2000 (first month pmt & fees)
    monthly pmt: $437 (included taxes & free maint.)

    the salesman ran credit and said he gave me the best he could. Also said that 36 month lease is the best deal and recomended me to turn back in 36 months and get a new car, since in 36 months this car reaches his maximum value.
    - DO I HAVE A GOOD DEAL OR AM I PAYING ABOVE AVERAGE?

    Paul
  • kyfdxkyfdx Posts: 29,077
    Isn't the MSRP on the non-Navi TSX $28,500?

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • ericw2ericw2 Posts: 5
    Hello, Car_man. I live in the Seattle area, and I'm thinking hard about leasing a new TSX with manual transmission and navigation. What is the current Honda money factor for the lowest-mile-per-year 24 month lease? I have excellent credit, so please provide the lowest rate. Also, what is the current residual on that lease? Finally, are there any special deals I should know about?

    Thank you very much for your help.
  • haminhamin Posts: 12
    Car_Man:

    I am new to this forum..interested in leasing TSX auto with Navigation 06. I have read lots of stuff regarding leasing. Still need your help:

    1)How should I bargain with the dealer? Which is the most important factor in determining lease monthly payment. ?

    2) During bargain, which area should I stress more with dealer to get a better quote?

    3) Is "down payment" / out of pocket payment , mandatory for leasing? can we make a zero down ? will it increase monthly payments if I Do so?

    4) What is capitalized cost reduction ?

    please reply me early
  • haminhamin Posts: 12
    car_man

    I am in tennessee..got offered this lease...

    on 36 months, with a cap cost of 28995, only using upfront fees down
    (first pmnt, lic, fees, and tax):
    10K/yr -- 1281.92 Down 427 + tax = 457.47
    12K/yr -- 1290.09 Down 435 + tax = 465.64

    This assumes the VERY best credit (>710 credit score trans union).

    This vehicle will have Splash guards and a pin stripe as well as complete paint, fabric, vinyl and leather sealant. Total retail price $31402.

    This is for 06 automatic with navigation.

    plz help me ..is it agood deal ?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you estimate what this car's lease payment should be, aural. However, in order for me to do so I need you to provide me with its full MSRP (with the destination charge added in). For now, I can tell you that if you were to lease a 2006 Acura TSX without navigation through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00260 and 62%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jpalermo82. It is very possible for a more expensive vehicle to have a better monthly payment than a less expensive one if its lease program is more attractive. I can't estimate what these cars' lease payments should be without knowing their MSRPs, but I can provide you with information on their current lease programs so that you can play with the numbers yourself. According to the latest information that I have seen, if you were to lease a 2006 Acura TSX without navigation through Honda Finance right now for 42 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00240 and 55%, respectively. As far as the Audi goes, its lease program varies depending upon the exact model that you want. For now I will assume that you are interested in an '06 A4 2.0T Sedan without quattro. If you were to lease this car through Audi Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00075 and 55%. As you can see, the A4's current lease program is much more attractive than th TSX's program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey psoares. As my partner in crime just mentioned, the MSRP of an '06 TSX without navigation is only $28,500. Did you get additional dealer-installed options added to your car. If so, this would explain the difference in price. Normally I would say that $27,250 is just an OK deal. It's about halfway between this car's MSRP and dealer invoice prices, but if you got something more for your money in terms of additional options this price is a lot better.

    You were a little mislead about turning your car in early though. It is usually fairly expensive for consumers to get out of their leases a year before their scheduled end dates. In order to do so, you will need to find a a dealer to give you as much as your car is worth at that point for your TSX as a trade, which is unlikely. To further complicate matters, there is a good chance that Honda Finance is going to want you to make remaining lease payments on your car, or at least the depreciation portion of them. It is never a good idea to lease a vehicle for a longer term than you plan on keeping it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello ericw2. According to the latest information that I have seen, if you were to lease a 2006 Acura TSX with navigation through Honda Finance right now for 24 months with 10,000 miles per year, its buy rate lease money factor and residual value should be .00380 and 68%, respectively assuming that you qualify for its "Super Preferred" credit tier. As you can see, Honda Finance's 2 year money factor for this car is extremely high. If you lease it for 36 months, its factor drops to a much more reasonable .00260.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome hamin. The most important number to negotiate on a leased vehicle is its selling price aka capitalized cost. Shop around and negotiate the lowest possible selling price on the car that you are interested in. Once you have found a good deal, have the dealer that you are working with calculate your car's lease payment using its buy rate money factor. Honda Finance's current buy rate lease money factor dor the 2006 TSX is .00260 for 36 to 39 month leases for consumers who qualify for its top credit tier and pay a security deposit. It is important to insist that this factor is used to calculate your payment because dealers are allowed to mark it up to add additional hidden back-end profit to deals.

    Consumers are free to lease any vehicle that they want without making any sort of down payment. By down payment I mean a capitalized cost reduction, which reduced the amount that you are financing. Even on a lease with no down payment, you will still have to pay your car's first month's payment, a security deposit that is equivalent to that payment rounded up to the nearest $25 increment, Honda Finance's $595 acquisition fee, and any required state taxes or fees at lease signing. You can usually roll the acquisition fee and taxes into your car's capitalized cost so that you don't have to pay for them up front if you want. Honda Finance will waive its security deposit requirement in exchange for an increase of .00010 in your car's money factor.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi hamin. I would be happy to give you my opinion on the deal that you were quoted. However, in order for me to do so I really need you to provide me with this car's MSRP (with the destination charge added in). This number will show me how much of a discount you are being given and it will enable me to estimate what your lease payment should be.

    Car_man
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  • acadaacada Posts: 5
    Just signed a 36 month lease on a TSX w/o Navi from a Long Island dealership on March 25th. Got it for $26,500 with a passive alarm. Payments come to $360/mo with the taxes, Acq. fee, refundable Sec. dep., DMV fees and 1st month paid up front. Is this a good deal?
  • What would be the April money factor and residual for a 2006 TSX w/ Navigation and automatic? Carbon Grey w/Grey leather. MSRP 29890. Drive off only. 3 year lease w/ 10,000 miles per month. Assume highest credit tier possible - fico greater than 800.

    Further, anyone have any good stories on prices paid for this configuration around LA?
  • teaem11teaem11 Posts: 2
    Local NJ dealer agreed to match NYC newspaper advertised lease deal. Is this a good deal?
    2006 Acura TSX auto no navigation
    MSRP $28505
    7K miles/year, $229/month, 27 months, $1995 down, plus tax, reg, license fees, aqusition fee, first month, and security dep.
    Assuming 7K miles/year is enough is this a good deal??
    Thank you!
  • en1066en1066 Posts: 1
    I've got a selling price of $27,052 on a Acura TSX - no navigation, no accessories. Given the current financing rate (2.9%) and my savings account (4.0%) it would seem to make sense to purchase the car and keep it for ~6 years. Leasing is attractive but I'd like to know the money factor and other details that might come into play. This would be my first lease ever and so, despite extensive research, I remain a bit fuzzy on details. If I put $2,000 down on the car my monthly lease payment would be $381 for 12K/year. Thanks for your help.
  • amgrouchy1,

    In response to your question regarding pricing in Los Angeles, I recently was quoted a cap. cost of 27371.92 from Santa Monica Acura for an automatic TSX with Navi. My payments would have been in the low 400s with tax for a 3yr./45000 mile lease; 1,000 due at signing.

    Santa Monica Acura sent me an email this month that said their base price for an automatic TSX with Navi would be 27371.92 (same figure) in an effort to meet TSX sales goals for April. Keyes Acura in Van Nuys said they would beat Santa Monica's price if they could get me in the showroom.

    Dealers in the LA area, from my experience, are willing to deal on this vehicle right now. BTW, really liked the car during my testdrive. The 4 cyl engine had enough kick for me. Navigation system is unbelievable - touch screen, voice commands that actually work, points of interest! Standard features make this car a true bargain. I only question the exterior styling. Just my 2 cents.
  • tezanetezane Posts: 4
    First, thanks to everyone on this forum for educating me on leases -although it has caused a bit of frustration when i know more than the salesperson and have had to walk out of the dealer. No one will provide the calculations and one dealer wasn't giving me credit for the trade.

    Anyhow, am considering the following, please let me know if this is a good deal, i can't get the figures to work out so think i am missing something - am in Philadelphia, PA.

    2006 TSX 6MT w/Navi
    3 yrs/12k per year
    Trade In $1,800, no money down
    MSRP $30,505 inclds destination
    $595 acquisition fee, tags $157.65
    no security deposit, therefore MF .0027
    $402/month inclds tax

    Thanks for your help
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm sorry to hear that you are so grouchy, amgrouchy1. At least you have company if you had to put a "1" in your name :) . If you were to lease a 2006 Acura TSX with navigation through Honda Finance right now for 36 months with 10,000 miles per year, its buy rate lease money factor and residual value should be .00260 and 62%, respectively.

    For feedback on how much other community members have paid for this car recently, you should stop by the following discussion: "Acura TSX: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi teaem11. I would be happy to give you my opinion of the advertised lease that you saw, but you never mentioned the selling price of the car that you are interested in leasing. You may be able to find this number in the fine print of the ad that you saw. This is an important number 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 the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment.

    As far as the mileage allowance goes, the smallest mileage allowance that I have seen Honda Finance lease vehicles with is 10,000. I don't think that you can lease a TSX through Honda Finance with only 7,000 miles per year.

    Car_man
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