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Acura TSX Lease Questions

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Comments

  • kingpcgeekkingpcgeek Posts: 985
    Consult your local psychic. The manufacturers keep that type of info pretty close to the vest.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi arlington2. It's definitely a good idea to understand how leasing works before pulling the trigger on one. 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.

    On an Acura, finding out the money factor and residual value is much less important than finding out the selling price of the car that you're interested in. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how large a dealer discount you are being given.

    The dealer invoice price of a 2009 Acura TSX Tech is $30,474. If you subtract the $1,250 dealer cash that Acura is providing on this model from that it drops to $29,224. The selling price that you were quoted is even lower than that. This is a very good deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Matt. What you were told is correct. Acura is currently providing $1,250 dealer cash on the 2009 TSX Tech, but nothing on the base model. Make sure to negotiate a dealer discount on top of that. If I was in the market for an '09 TSX right now, I personally would shoot for a selling price that's as close to dealer invoice as possible and then have the dealer subtract any available cash incentives. Dealers are probably fairly anxious to unload their remaining '09 TSX models now that the 2010s have started to arrive.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Matt . Kingpcgeek is right. There really is no way of knowing what the new program will be like before it is officially announced.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks Car Man

    I've had a heck of a time trying to get the dealers in my area (Seattle) to get close to invoice with the 1250.00. If I could get invoice with another 1250.00 below I would be a happy camper. Are there issues with going to another state an leasing a car? I have a feeling I might have to do that.

    Thanks for your help

    Matt
  • kingpcgeekkingpcgeek Posts: 985
    I tried to lease a TL last year in CA, I live in AZ. I was told by the dealer that I would have to provide a CA address to do it. I called Honda Finance and they confirmed this fact. I also was thinking about leasing an Infiniti in CA.. They had no problems with me doing it. They would put a temp transfer plate on the vehicle, and all I would have to do is go to the AZ MVD to get permanent plates.

    I'm really not sure to this day if I got bad info about the Acura.
  • fastfeetfastfeet Posts: 9
    My TL lease is just about up, but I do NOT like the new TL's, so I was looking to lease a tsx 09 tech. I 'm getting very bad vibes now with this dealer. Rushing me in to getting their "last" 09. Told me the 2010 will be $60.00 a month more.

    This was their offer to me with $3,000 down....security$389, bank fee $595,NYSST $1310. Capcost$600 leas efor 389./mo 36 /12
    I'll take any advice
  • robertw477robertw477 Posts: 186
    Thats a terrible deal. Tell them to forget that! DO NOT put any 3K down. Dont put money down on a lease. Makes zero SENSE!!!

    Rob
  • fastfeetfastfeet Posts: 9
    Would it make sense to extend my current lease with my TL and wait to see the 2010 offers?
  • fastfeetfastfeet Posts: 9
    Would it make sense to extend my current lease with my TL and wait to see the 2010 offers?
  • roubaudroubaud Posts: 39
    I'm soon to buy either a 2009 or 2010 TSX with tech. I laugh at these people that say don't put money down on a lease. What? All these TSX lease specials require it JUST SO you can get that $330 (09) or $390 (10) lease deal. Don't put money down on you lease and watch that monthly shoot up--so you should then just take out a car loan instead, practically.

    The whole point of putting money down on these lease specials, it seems to me, is to get lower monthly payments--quite a big deal to most folks. I personally haven't decided on lease or buy, 2009 or 2010, but low monthly payments are big to me for just a 3 year lease and doesn't seem all that risky.
  • robertw477robertw477 Posts: 186
    I dont think you get it. Require it? Thats bull. I got three quotes on 09 with tech. All sign and drive. Put money down to get lower payments?

    I laugh at those like you that just dont get it. There is no benefit to the lesee. The idea of a lease is not to put down money. Here is an example.

    300 a Month with 3600 Down (I use 3600 for a round number)
    400 a month sign and drive

    Why not put down 7200.00 and call your car payment 200 a month if it makes you feel better. cap costs make the dealer look like you are getting a better deal than you are.

    Do you think the 300 a month is a better deal? You are buying down the lease, sort of a prepay with no benefit pricewise to you.

    I think if most folks think 3000 down is good than most folks dont have a clue. Clark Howard mentions leases and calls them fleeces. I have done exceptional over the past 15 or more years leasing cars. I find the best deals with no nonsense.

    As it has been mention a million times. Any money down on a lease is lost if the car is stolen and not recovered or totalled in an accident etc. If you are mentioning the ads on tv call the dealer and just ask for sign and drive, no cap cost. Its as simple as that.

    rob
  • fastfeetfastfeet Posts: 9
    OK, so you say sign and drive...ADVISE me as to how to to this?
    Will the 2010's be more per month than 09?
  • john1789john1789 Posts: 5
    "OK, so you say sign and drive...ADVISE me as to how to to this?"

    I, too, co-sign this movement. Please 'ol mighty one, educate us. :)
  • robertw477robertw477 Posts: 186
    You call the dealer and tell them you want a sign and drive leasu want to pay for is the first month and tag simple as that. For example I saw a local website that was even showing a cap cost rate and a sign and drive rate. Dealers love people who dont know a thing about leasing. They usually take those people over the hurdles.

    Good Luck
    Rob
  • bvdj84bvdj84 Posts: 1,721
    Yes! In order for a dealer or company to make a deal look good and practical is to post a low payment. Always putting the amount due in fine print below. The amount due is typically around $2k.

    Posting the true payment of the car wouldn't be as attractive. You most definitely do a sign and drive on any car. That is a true lease. They simple roll most fees into the lease, leaving the first payment due or sign and drive. When it is sign and drive, it is simply rolled into the lease. If any dealer asks you to put $2k or $3k down, then they are crazy. The lessee is taking big risk if its totaled and it is NOT going to benefit you in anyway, even if you wanted to buy the car at the end.

    Putting anything down is unreasonable, it defeats the whole purpose. If you are truly focused on a low payment, perhaps you really cannot afford the car. If you have that kind of money in the bank to dump $2k,$3k in a lease, then you can definitely make the higher payment. Why throw you hard earned money? If you are so focused on the low payment, then perhaps you SHOULD keep the money in the bank, go with a lower cost car. That just seems frivolous and taking a big risk. Do not focus on the payment too much, it is the overall cost of the car. If the car comes out to a sign and drive with a good sale price. And you question the car payment being too high. Then you need to pick another car.

    $1,000=$20-30 roughly off your payment. Its not too much.
    Keep your money in the bank. Now of course you have money to throw away, then you really should opt to get a loan out, not lease. Then your money down does help. If your like me, I trade my cars every 1.5-2yrs. I know, alot, but I do. So could you imagine putting $2k down every time?

    No offense to anyone here. Just stating my view point of a lease
    But then again, were all guilty of biting off more than we can typically chew right?
    I don't need a brand new car, but I have one.

    Lets all be thankful and appreciative for what we have, and not throw it away.
  • fastfeetfastfeet Posts: 9
    Thank you for explaining it Rob. Since you are so knowledgeable.....what's your opinion on extending my current lease until the 10's get more of an incentive???
    And would you choose with or without TECH???
  • robertw477robertw477 Posts: 186
    Honda is a very good leasing company, They will let you go month to month etc. Especially if you are leasing again with them.I never had a single penny charged by them on any lease I had. As far as the tech packages when I first got my 03 TL lease the tech package was hot stuff. NAV was not common. Seems to me that there is a big premium for the tech package. A good bluetooth nav can be bought for a few hundred. Less convenient though. My cell phone does turn by turn nav (palm pre) Iphone does turn by turn (3GS model) I always try to buy end of year models as you usually have a little more wiggle room. Good Luck/
    Rob
  • tbenson81tbenson81 Posts: 22
    Hi

    I am looking to lease a TSX in the next day or so. I can get a great deal on a 2009 and just wanted to check with the experts here if there are any advantages or improvements at all for the 2010 model. I have done extensive research and cant find a single difference between the 2009 and 2010. Are there any at all ? Exterior seems identical to me and I cant find any other differences. Any insight would be greatly appreciated.

    Tony
  • robertw477robertw477 Posts: 186
    Same car no difference. Get the best deal you can. In this econimy nobody is knocking down doors for any new cars let alone 2010s. Sometimes when there is a major body redesign or something dealers will try and get the highest price on cars rolling in. That is usually a great time to buy the old body style on a car if you like it. I even remember a few years ago the new accord body style, dealers were charging about $100.00 more per month because they could.

    Rob
  • bvdj84bvdj84 Posts: 1,721
    Acura dealers will typically take advantage of any moment, such as a new year, body style, or anything really to boost the prices. Although, when they are not moving as fast, they'll have to do something. Honda and Acura have been known to do this.

    Now is not the time for a company to mess around with numbers. It won't last long, but will take a while for the newness to wear off.

    We as customers must be careful to not fall in that trap too. $100 more a month to have it in your drive way? Worth it? Perhaps? but the TSX is nothing new. Don't fall for it. Its not like were being cheap, but we want what is right and fair. Walk out if they can't atleast be fair. :)
  • fastfeetfastfeet Posts: 9
    You say you can get a great deal on 09??? Where not in NY. There are no more 2009 TSX's left. maybe one or two, i've checked it out. So, what kind of deal are u getting and what city??? I still feel like i'm getting screwed my this dealer. I have one more day to pull out.
  • fastfeetfastfeet Posts: 9
    why do the dealers keep telling me they stopped production on 09's in feb...and there are none left??

    I' have not been offered any of the incentives you talk about

    All they tell me is that the 2010 will be so much more a month to lease
  • tbenson81tbenson81 Posts: 22
    FastFeet

    I live in Florida. Dealer is giving me a 09 TSX Tech for 29k

    What kind of deal are you getting?
  • marc52marc52 Posts: 17
    I also live in florida, what dealer are you going to?
  • marc52marc52 Posts: 17
    I am looking to lease a 09 or 10 TSX 4 cylinder base car. I have a trade worth $7200 on a trade or $ 8500 selling it privately. Trading is easier. I plan to keep it at least 7 years. I also do not want to put anything down. I would rather use my trade as a down stroke and buy it at the end of the lease rather than buy it with the trade to keep my payment lower for now. Paying it off is not going to be a problem. How does a trade-in affect a lease deal? With the curent deal of $299 a month for 36 and 2405 down, they advertise 3299 due at signing. How do they get to 3299 from 2409 down. What do I look for in negotiating a price with my trade? I am confused.
  • fastfeetfastfeet Posts: 9
    wow i am getting screwed 30,275. price of car 09 tsx tech
  • kingpcgeekkingpcgeek Posts: 985
    You do not, and I repeat you do not want to trade a car worth $7200 on a lease. Buy the car instead.

    From leasecompare.com:

    Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.

    For example, a customer once leased a Toyota 4Runner and put $3,000
    down as a cap reduction. Five months later the vehicle was totaled in an
    accident. The client's insurance paid its portion of the lease payoff and
    Gap Insurance paid the balance. Our client walked away with only paying
    his insurance deductible but he did not get reimbursed for his initial down
    payment of $3,000. It was lost.

    The moral of this true story is to put as little money down as possible,
    ideally no money down.
  • marc52marc52 Posts: 17
    So as I understand it the risk is if the car is totalled. My payments would have been much smaller but I would loose my $7200 down payment. I should buy it reducing my payments and owning it outright.
  • robertw477robertw477 Posts: 186
    Now you get into the buy vs lease situation. I think that many in the media called leases (fleeces) is that many just dont understand a car lease. Some people just understand the monthly payment whether it is a buy or a lease. My way of looking at it, if you can basically pay for the actual depreciation of the car (per a lease)you are doing well. If you buy a car your loan should be for 5 years max. If you do the math-for example a car loan at 6%/30K car/5 years with 3000.00 down will get you an 821.00 car payment. The same car using a lease program may yield a cost of 400-450 a month (estimate). If you buy a car and drive it for many years probably near or after year 5 you will be ahead of the game. If you buy a car every 3-4 yrs and trade in, the lease is the way to go. This assumes you buy a car with good residual values like honda, lexus,bmw, infiniti etc.

    Rob
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