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Acura TSX Lease Questions

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Comments

  • bs0bs0 Posts: 27
    hmm...it seems like the MF on the tsx his high - the special on the TL right now is .00136 - a lot lower - i wonder if i should wait around or what...
  • bs0bs0 Posts: 27
    well, i was at a dealership today - they had a heap of 06's on the lot, didn't know when the 07's were coming (they were lying i assume!) - yet were not will to budge at all on the MF. I got them to come down to invoice. But i walked out when they wouldn't do anything on the MF:(. Not sure how long i can hold out since i unexpectedly sold my current car very quickly (2 days on the market!).
  • bs0bs0 Posts: 27
    so, at the dalership today - saw the following:
    - 4 year
    - 10kmiles
    - base AT model
    - $289
    - A figure downpayment which i think was abournd $3kish - can't quite remember

    Has anyone seen this and see if it is a good deal or not? What does this translate into in terms of a MF?
  • bs0bs0 Posts: 27
    what is the deal with this MF in IL? I have been reading here and seeing that the honda rate is 0.00283. I am getting quoted 0.00290. Should i be pushing back against this?
    thanks
  • mlb11mlb11 Posts: 31
    bs0,

    That is the MF that acura is giving on leases without a security deposit. If you have to put down a security deposit, then its .00283.

    I also was dealing today and they would not budge on the MF or residual, but also brought the price down to invoice. I also dealt on a TL and they dropped to $1k below invoice! BUT, given the ridiculously high MF neither cars were good deals IMHO, with the TSX, 48 mo./12k lease running about $375 and the TL at $420 with $2500 down.

    Your 48 mo lease quote I'm assuming is without taxes? If so then $289 with $3k down seems about right.

    The dealer also told me that they have no idea when or if Acura will lower the MF. This makes sense since they do not want to turn someone away from buying a car today!

    I'll try and keep ya posted....I think the dealers are giving good deals, it is just that Acura is charging much too high an interest rate.
  • bs0bs0 Posts: 27
    thanks again mlb11. Interesting that i was being offered 0.00290 with also paying a security deposit! Do you know which scenario is better? Do you think that 4 yr is using the same 0.00283 MF?

    I am beginning to think about buying - some dealerships have 2.9% apr and i even heard muller acura today with 1.9% on the radio - but i didn't quite catch the ad - i will have to ring them...

    i like the payment on the 4yr! But that is a bit long to lease i guess..mite as well buy something...pity the tsx is coming out with a new car in 08.
  • mlb11mlb11 Posts: 31
    bs0,

    I have been given the .00290 money factor for either a 36 or 48 mo. lease. The only item that changes is the residual. The money factor should drop slightly to .00283 if you have a security deposit. In reality, the .00290 MF is like rolling in the security deposit, so it really makes little difference.

    I have to agree with you that buying is currently the better option. The only reason I will not do that is because I'd rather not put down a large downpayment, and/or have car payments over $500 a month, plus I like to get a new car every 3 or 4 years. I also like to spend my money on other things other than a car and not be tied down by a car payment. But if you can afford it and are planning on keeping the car for awhile, then in the long run (5+ years) you will save money over a lease - especially since we in IL pay tax on the entire car price anyway.

    Given that I am also likely to lease for 4 years this time (especially if the money factor doesn't drop), I am also concerned about getting a car that I'll really like. This is why the price gap between the '06 TL and TSX is making me interested in the TL. It is currently about $40 a month on a 4yr lease ($375 TSX vs. $415 TL). Although I have yet to drive the TL, I have a feeling that it will feel closer to my '04 Accord v6 coupe. Too many decisions....! If Acura lowers the 6.95% lease interest (MF = .00290) it would make the decision making progress much easier.
  • The guys over at interstate auto leasing just gave me MF .00249 last week. They are nation-wide.
  • mlb11mlb11 Posts: 31
    carman77471,

    Do they have a website? How would you get this rate when buying a car from the dealer?

    I also checked out leasecompare.com and while they had some lower money factors, their residuals were also lower. This negated the savings from the better money factor. Is this the case with interstate auto leasing?

    Thanks!
  • What was your res? I'll look at my quote?
    interstateautoleasing Don't know if we can give web sites? :)
  • mlb11mlb11 Posts: 31
    The residual on the 2 cars I'm looking at was:

    47% on the TL
    50% on the TSX

    Both doing a 48month/12k yer year lease

    Thanks again.
  • The TSX was 47% through the bank I was looking @, but my pymt was 359 @ 48? So I currently have a cheaper pymt, and cheaper res if I decide to buy or get out early? :)
  • mlb11mlb11 Posts: 31
    Thanks for the info carman77471,

    Given your MF and residual, I calculated a TSX payment of $371 per month for 48mo. with the TSX cap cost being $26k and $2k down. This puts it in line with what I've been getting through Acura as well. Its amazing how a slight change in MF or residual can add up to the same deal.
  • Going through my notes I found a MF as low as .0020? What does that pymt come out to?
  • bs0bs0 Posts: 27
    well, i don't want a TL right now because it is bigger and less fuel efficient than i really need....I would rather not buy since a new TSX is out in 08, but i may take this route if i can find a good APR rate on a used/certified TSX or even demo model...If i can get the price of a vehicle down to around $20k with low APR, it may be worth to buy it...
  • mlb11mlb11 Posts: 31
    This works out to about $351 (assuming .002 and 47%) which is a good price. Is this offer actually available with no additional fees?
  • It is...I have 2 quotes from them from 2 diff banks....give them a call they are helpful.
  • bs0bs0 Posts: 27
    hey guys - re: the following:
    $351 (assuming .002 and 47%)

    Can u tell me what type of lease (i assume) on the tsx this works out too? I am looking at a TSX too (in the next 2 weeks hopefully), so i would be very interested if there is a cheaper deal available via a 3rd party...

    What is the name of the 3rd party bank?

    thanks.
  • mlb11mlb11 Posts: 31
    Thanks carman77471!

    Have you used them before to lease? I'm always nervous about hidden fees or turn-in difficulties.....I have leased before from a bank though (Chase) and did not have any problems. Also, when you go through interstate, how does that work? Do you still go to the dealer and once you get theprice you're satisfied with, then have paperwork ready for a lease?

    Thanks again for your help!
  • bs0bs0 Posts: 27
    hey carman77471 and mlb11 - since u are looking for a tsx now too - would u buy rather than lease if u could get 5.49% over 59 mths? I know that is a long time but my employers credit union can get me that...which seems it may be better than any leasing deal i can get right now given that i will be driving very few miles and hopefully able to have a low depreciation rate on the car...

    thanks.
  • bs0bs0 Posts: 27
    mlb11 - is this for a 3yr or 4yr lease? - i assume it is $2k down with 12k miles/yr?
    thanks
  • mlb11mlb11 Posts: 31
    bs0,

    Yes, these numbers are for a 48 month lease with $2k down and 12k miles per year and include taxes and the $595 aquisition fee. It does not include first month's payment and tags ($143 in IL).

    your welcome.
  • mlb11mlb11 Posts: 31
    bs0,

    Personally, I would still lease because I would rather keep my monthly payents low and put less money down. In addition, I am also the type who likes to keep a car about 4 years maximum (below the manufacturers full warranty period) and then trade it in or sell it to carmax and use the money for a downpayment on a new vehicle.

    I'm wondering if you may be able to get a better financing rate from Acura? My reason for mentioning this is that I've read on the TL forum that there are new rumors Acura will announce a Halloween sale starting on October 25th. Again, I don't know how truthful these rumors are, but it was stated that Acura would likely offer special financing in this sale.

    Hope this helps...
  • bs0bs0 Posts: 27
    mlb11,
    thanks for your opinions...i actually found today a tax advantage rule offered by my employers credit union where the 5.49% apr rate they are offering can be counted as debt against your mortgage which makes the tax deductible - at my tax rate, that makes the effective rate 4.1% apr. So, a loan over 4 to 5 years turns out to be a pretty reasonable payment on a tsx - i will have to wait for the weekend anyway, since this loan takes 3 days to clear, so if acura does something between now and then, it would be even better!
  • bs0bs0 Posts: 27
    mlb11,

    when u say 'trade it in' - do u mean at the end of the lease, the car is generally (with cars like acuras) worth more than the computed residual and so you can buy out the lease and then sell the car for a profit - as u say, to use on next car?

    thanks,
    bso
  • mlb11mlb11 Posts: 31
    bs0,

    Yes, that is what I am referring to. In fact, Honda/Acuras hold their value so well that you can often trade them in early and still break even or make money. I sold a 1999 civic ex coupe to carmax 6 months before my 36 month lease was up and still made $600. Given the current Acura deals I am thinking of selling my '04 accord v6 coupe to carmax 8 months before my 36 month lease ends. Edmunds TMV trade-in value in good condition is only $100 shy of my current payoff! Since my car has low miles (25k) and is garage kept, carmax may appraise it higher than good condition but below excellent as they did on my 99 civic. If they do then I break even or even pocket a little money and can take advantage of some great year end sales.

    Keep your eyes open for this supposed Halloween sale. The TL board is predicting 3.9% financing on '06s....although given your loan situation this is really not much different. That is great if you can write off those taxes and definitely gives you a big advantage over leasing.
  • Hi cruby. As usual, Acura is not currently providing any cash incentives on the TSX. I believe that the dealer invoice price for a 2006 Acura TSX with navigation and an automatic transmission is currently around $27,927. You were quoted a price that is around $2,000 over this. That sounds a little on the high side to me. You are in a part of the country where there is no shortage of dealers. If I was in your situation, I would comparison shop with a few other dealers to see if I could beat this price. Make sure to stop by the following discussion to see how much other community members have paid for similar cars recently: "Acura TSX: Lease Questions".

    Car_man
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    Prices Paid Forum
  • bs0bs0 Posts: 27
    thanks - it's Oct 25th - i can't see anything!:(...have u heard anything mlb11?...
  • Hi cruby. The selling price that you were quoted for this car is around $2,000 over dealer invoice. Since you are in an area where there is a lot of competition, I suggest that you shop around with a couple of other Acura dealers to see if you can beat this price. Chances are that you will be able to.

    Also, I noticed that you are considering making a large down payment on your lease. I always advise consumers not to make down payments on leased vehicles. The main reason why I do so is if your leased vehicle is totaled in an accident or stolen and never recovered, your down payment essentially disappears. You can and should lease this car without making a cap cost reduction. Of course, without one your monthly payment will be a little higher.

    Car_man
    Host
    Prices Paid Forum
  • Greetings bs0. Unfortunately, consumers who lease vehicles must pay their home state's sales tax, regardless of what state they purchase them in. This was done to keep consumers from flocking to states that have no sales tax to purchase their vehicles. Even if you were to lease a new Acura in Wisconsin using that state's sales tax rate, you would eventually have to pay Illinois taxes on it when you want to register it there.

    Car_man
    Host
    Prices Paid Forum
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