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Acura TSX Lease Questions

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  • This is what I'm getting quoted for 09 tech package

    $32,820 MSRP
    $30,224 invoice
    $31,000 selling
    36 month lease
    10K miles
    $3,500 down payment
    $399.83 including tax
    $20,701.80 Resid. value

    $32,820 MSRP
    $30,224 invoice
    $31,000 selling
    36 month lease
    12K miles
    $3,800 down payment
    $399.49 including tax
    $20,373.20 Resid. value
  • drtraveldrtravel Posts: 395
    I know I'm a little early, but when the October lease rates are available, could you provide them? Looking for the base car, 15K per year for 36 and 48 months.

    Thank you
  • I, too, would be interested in the October lease rates for 12K and 15K for 36 and 48 months. Thanks so much.
  • Thanks for the info. I'm going out this month to a few dealers to see what they quote. I was very disappointed in the dealership (Davis Acura) where my family has already leased 4 Acuras ... it was a new salesperson and he was just terrible but I really love the car!!
  • drtraveldrtravel Posts: 395
    What kind of Acquisition (or bank) Fee does Acura charge to get a lease? Do they have a Disposition Fee at the end of the lease? Did they list a Purchase Option Fee should you decide to purchase the car at the end of the lease?

    Sorry about all the fee questions, but inquiring minds...
  • gforce11gforce11 Posts: 225
    Acura charges $595 for acq/bank fee and no disposition fee.
    Also includes $1500 damage waiver ($500 per incident) and GAP coverage is included. I don't believe there is a purchase option fee.

    G
  • drtraveldrtravel Posts: 395
    Acura charges $595 for acq/bank fee and no disposition fee.

    Thanks for this - some dealers mark up the acq/bank fee - so it's nice to know what it is before hand. BMW dealers are famous for marking their acq fee up $200 and many people don't seem to know that MB charges a hefty end-of the lease fee.
  • Welcome atuncer. One possible explanation for why the money factor that you were quoted is slightly higher than the one that you have seen mentioned here is Honda Finance's security deposit waiver program. Honda Finance will waive its security deposit requirement on leased vehicles in exchange for a money factor increase of .00010.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi redrobin1. Since you are new to 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.

    In short, the two most important numbers to know when leasing are your car's selling price and the money factor that the dealer is using to calculate its monthly payment. I see that you already know what the dealer is charging for this car. That's a great start. Let's take a look at it. The dealer invoice price for a 2009 Acura TSX with an automatic transmission but without the Technology package is $27,399. So it appears as though the selling price that you were quoted is $500 over invoice, which is very good.

    Just make sure that the dealer that you are working with uses Honda Finance's current buy rate lease money factor of .00270 (for "Super Preferred" tier customers who pay a security deposit at lease signing) and you're in business.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi jmb8606. It would be much easier to tell if this is a good deal if you provide us with this car's selling price. Never lease from a dealer that does not provide you with this information. The selling prices of leased vehicles are negotiable, just as if one was paying cash for or financing them.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jmb8606jmb8606 Posts: 13
    36 month lease
    12K miles
    $3,800 Drive off (Down)
    payments of $400.18 including tax(some reason off by a few cents, What is the tax at your home or county tax?)
    $371.40 with out tax.
    .00280 money factor
    62% Res. Value

    your $3800 drive off includes the following:
    1st month payments of $400.18
    Cap red of $2497.16
    Sales tax up front $243.91
    1st years fee of $8.75
    Sec Deposit $000.00
    Doc Fee $55.00
    Acq. Fee $595

    Your Residual is $20,348.40
  • Here's the information that you're looking for, drtravel. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura TSX without the Tech Package with 15,000 miles per year are .00270 and 63%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 48 month lease are .00255 and 53%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey mcginsu. See my previous post for the info that you're looking for. The residual values for leases with 12,000 miles per year are 2% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • drtraveldrtravel Posts: 395
    Thanks for the info - looks like October's number are identical to September's. I'll just wait as I believe Honda will have to provide some incentives in the next few months given the current economic situation. The TSX residuals are higher than BMW's which suprised me and I bet alot of other people.
  • You're very welcome, drtravel.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • i got the new Acura tsx 2009 without eh tech package this is the deal i got
    500 down including tax and fees
    408 dollars a month

    i added the 600 tire warranty for 17 dollars a month total
    425 dollars a month for 39 month
    the reason for the tire is i had Mazda6 before and had to change 4 tires over 4 years because of potholes and Acura uses the same tires
  • njnjnjnj Posts: 18
    hi onlymehdi,

    can you give out more info on your lease? is that 36-month 15K/month lease? what's the breakdown cost of your inception fee? what's money factor? thanks a lot!
  • drtraveldrtravel Posts: 395
    I don't have the 39 month values, however if I were to lease this car I wouldn't put anything down and I wouldn't pay over invoice.

    So a car with a MSRP of $29,720, Cap cost of $27,398 (invoice price with nothing down), 36 months with 15K per year has a residual of $18,724 (63%) and a money factor of 0.0027 would have a monthly lease payment of $365.48 + TTL. I doubt a 39 month lease would be much different - the monthly payment might even be a little bit lower.

    When analyzing leases you need to provide more information than just the monthly payment. They may have bumped up the money factor, your cap cost may have been too high etc.

    Don't know what market you are in but in So Cal, buying this car for close to invoice is definitely doable.

    PS - good luck on finding the money factor in your contract. Seems like car leasing is exempt from listing the APR. Just multiply the money factor by 2400 to determine the interest rate - 2400 * 0.0027 = 6.48%. I think this is too high and am willing to wait until the rates comes down.
  • njnjnjnj Posts: 18
    i was quoted MF of 0.0030 for 36-month 15K/yr lease. if you have good credit, the MF is 0.0029. can anyone tell whether it's correct for october? i saw 0.0027 from Mr carman's post too, is it right? where can i get this number officially? thanks!
  • it is 42 month and 12k a year, also there is no fee severything is rolled into to the payment.
  • spoon7spoon7 Posts: 4
    Hi Car Man, since you seem to have all this info, I'd really appreciate your help on this. I was wondering which factory terms change month to month. Is it just the money factor, or do residuals (for each miles/year tier) change each month too? From what I can gather on this forum, it seems like we should maybe be expecting 66% for 10k, 65% for 12k and 62% for 15k?

    Also, you said above the money factor for October is 0.0027 or 0.0028 w/o a security deposit...is that the best rate that any dealer can use in the month of October, and they can mark it up from there? The strange thing is that the TSX lease special on the Acura website ($329/mo w/o tech 10k mi/yr) seems to be using a 0.0030 money factor, which sounds pretty high...
  • Hi spoon7. Manufacturers' lease programs, both the money factors and residual values, do often change from month to month. Honda Finance's current program for the 2009 TSX is scheduled to run through November 3rd.

    Honda finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura TSX without the Tech Package with 15,000 miles per year are .00290 and 63%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. If you were to have your security deposit waived, the money factor would be .00010 higher. Dealers are usually allowed to mark banks' buy rates up a little to add additional hidden profit to dealers if they choose to.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • I'm having a hard time understanding Acura's current offer. It seems to be quite good and I'm not understanding how. When I run through the calculations myself I use the following:

    Assumed Vehicle Cost: $27,500
    Residual: $17,325 (63%)
    Down Payment: $2,675
    Term: 36 mo
    Money Factor: 0.00290
    Miles: 10k

    Based on these numbers I'm calculating an expected payment of ~$400 / mo versus the $309 / mo they are offering. I'm only trying to understand this so that I can try to predict if there's a chance an even better deal will come in the future since this offer ends Nov 3, 2008. It seems doubtful it'll get better than this, but maybe I'm missing something. Can anyone help shed some light? I should mention this is without the Tech Package.
  • drtraveldrtravel Posts: 395
    It seems doubtful it'll get better than this

    I'm not going through the numbers for you (you can see an example in the TL lease forum for that) - however I would be suprised if Acura doesn't provide some more lease support in the next few months. Their current interest rate is almost 7% which is a bit high given the state of auto sales. Keep an eye on the October sales figures announced tomorrow. If they are as bad as September sales - all auto manufacturers will have to come up with better incentives.

    It's a buyer's market and will continue to be so for awhile - IMHO. You hold the upper hand and not the dealer - so I'm betting the deals will be better soon.
  • drtraveldrtravel Posts: 395
    Use the following formula to calculate a lease payment:
    (Cap Cost – Residual Value) / Term = Depreciation
    (Cap Cost + Residual Value) X Money Factor = Interest
    Depreciation + Interest = Base Monthly Payment

    In your case the cap cost is 29720-2675 (down payment) - 661.08 (discount) = 26,383.92.
    Residual value is 66% X 29720 = 19615.20

    So the depreciation is (26383.92-19615.20)/36 = 188.01
    and interest is (26383.92+19615.20) X 0.0027 = 124.20

    Monthly payment is 188.01 + 124.20 = $312.21 plus TTL (not sure where the 309 comes from - maybe a slight reduction in the MF or some voodoo math)

    Is this a good deal?

    You are only getting a $661 discount which means you are paying $1660 over invoice. I think this is way too much - in So Cal I can buy a TSX for close to invoice.

    The MF is 0.0027 with a paid security deposit.

    You have to pay a capital cost reduction of 2675 - it's pretty much agreed that you shouldn't put anything down on a lease.

    The interest rate is 0.0027 X 2400 = 6.48%
  • Hi Car Man,

    When you have the information available, would you be able to advise the MF and residual numbers for November? Also, while the auto industry in general is really hurting, how would you rate Acura as to a possible steep decline in sales in October or are they holding their own? I really appreciate your help with this information.

    Thank you, Jackie O
  • drtraveldrtravel Posts: 395
    http://www.theautochannel.com/news/2008/11/03/216318.html for Acura sales info.

    They were down about 20% except for the new TL which was up 20%+
  • drtraveldrtravel Posts: 395
    This deal runs from 11/4/2008 thru 1/5/2009 - 10K miles per year for 36 months with no security deposit, $595 acquisition fee.

    Use the following formula to calculate a lease payment:
    (Cap Cost – Residual Value) / Term = Depreciation
    (Cap Cost + Residual Value) X Money Factor = Interest
    Depreciation + Interest = Base Monthly Payment

    The cap cost is 29720-2675 (down payment) - 906.80 (discount) = 26,138.20.
    Residual value is 65% X 29720 = 19318

    So the depreciation is (26138.20-19318)/36 = 189.45
    and interest is (26138.20+19318) X 0.00263 = 119.55

    Monthly payment is 189.45 + 119.55 = $309.00 plus TTL

    Compared to last month's lease deal - the residual decreased from 66% to 65% and the allocated discount increased from $661 to $906. Don't remember if they required a security deposit last month, also note that the offer doesn't include the money factor however I reversed engineered the offer to determine the money factor they would use.
  • Thanks for the info. I've read that in some of the messages that you shouldn't pay much up front in a lease ... How do you get around that with the salesman? As you can probably tell, I am new at leasing and really dispise dealing with auto sales people. I always get this feeling that everything is very secretative with them and thus the distrust. My lease is up in mid-January, I keep thinking that they might be offering some good deals. Any little tidbits and tips are appreciated.

    Thank you,
    Jackie O
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