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Acura TSX Lease Questions

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  • Hi again bs0. I believe that the dealer invoice price of the car that you described is $26,106. The price that you were quoted for this car is only $250 over this, so it is a very good deal. The money factor that you were quoted looks good too. It is right in line with Honda Finance's current buy rate for a 36 month lease of this car with a waived security deposit. Both of the main profit centers for dealers on leases look good to me. If you like the car, I don't see any reason not to pull the trigger on this deal.

    Car_man
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  • Yes, bs0, vehicles' residual values are always based upon a percentage of their full MSRPs, including the destination charge.

    Car_man
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    Prices Paid Forum
  • Hey bs0. While is it difficult to predict what manufacturers will do with their future incentives and lease programs, I personally highly doubt that we will see Acura introduce lease support on the TSX any time soon. I do not ever recall Acura providing lease or dealer cash support on the TSX. It produces a small enough number for the U.S. market that it is able to sell the ones that is has without any incentives. Again, it is difficult to say what Acura will do for certain, but if I was a betting man (who am I kidding, I am a betting man ;) ) I'd bet that Acura will not introduce any support on the TSX for a looooong time, if ever.

    Car_man
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  • Individual dealers can mark-up vehicles' money factors to add hidden profit to deals, but they to not have the ability to lower banks' published money factors for vehicles. You will not be able to lease this car through Honda Finance for 36 months with a money factor that is lower than its published .00280. You will only be able to get this low a factor if you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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    Prices Paid Forum
  • bs0bs0 Posts: 27
    thanks car_man - i am now thinking of buying due to the lease deals aren't that great to me - imho, you've either gotta find a great lease deal or else leasing (with the taxes in IL) becomes less attractive...
  • car_man

    do you know what the money factor and residual is on a new 2007 model? say a 36 month or 42 month. where can I find this info???

    Thanks
  • Couple questions on leasing before I head off to the dealer... 1. The max down payment on a lease is 20% of MSRP, correct? With that said, a MSRP of $30K the max would be $6K. 2. If your credit is a little below average, are the chances good to be approved for a lease? Putting down a heafty down payment. I have a discharged bankrupcy. Had to do that from a past separation. 3. Even with my credit, are leasing terms negotiable? Like the price of the TSX.
    Thanks for any and all feedback!
  • deagardeagar Posts: 1
    Hi Car_Man.

    I just got the following offer on a 2006 TSX (w/o Navigation) from Devan Acura in Norwalk, CT and would like your opinion.

    MSRP - 28,505
    Net Cap - 26,600
    Residual - 56%, 15,962.80
    Miles - 12,000
    Term - 42
    Factor - .0028
    Rate - 6.8%
    Bank Fee - 595
    Motor Vehicle Fee - 155
    Doc Fee - 199
    Total Monthly Payment - 394.79
    Total Spent (including 1st month payment) - 1400.73
    Free oil changes included

    Is this a good deal?
  • That seems high to me. We have a 06 w/ NAV and about $1200 of added accessories. With no out of pocket we are paying $500 for 36 months/15,000 miles per year. Over the course of the lease we will have paid $3600 more than your payment but we have a shorter term, more miles, NAV, and accessories with no out of pocket. I'm not an expert at this but it seems a little high to me.
  • Car_man, a lot of people are saying different residuals, money factors and terms of the lease. I wonder if you could provide 36-42 and 48 months with nav without nav 10k,12k and 15k. That is the only way if we will good deal or not. Thanks
  • I completely agree, bs0. Acura's lease program on the TSX is not very attractive right now. In fact, don't believe that Acura has ever provided lease support on the TSX. If I was really set on leasing, I probably would go with a different model.

    Car_man
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  • Hi gold6228. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Acura TSX with 15,000 miles per year are .00280 and 61%, respectively. The numbers for an otherwise identical 48 month lease (I haven't seen the 42 month numbers) are .00270 and 51%.

    Car_man
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    Prices Paid Forum
  • Hi tsxtravis. I'm not sure what the maximum down payment on a lease is, but I can tell you that it is in your best interest to make NO down payment when leasing. Consumers who make large down payments on leased vehicles risk losing them if their vehicles are totaled in an accident or stolen and never recovered. You can and should lease any vehicle that you are interested in without making any sort of capitalized cost reduction.

    There is still a good chance that you will be approved for a lease if your credit is not in perfect shape, but if you don't qualify for Honda Finance's top credit tier you will have to pay a higher money factor than someone who does.

    The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing.

    Car_man
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    Prices Paid Forum
  • Hello deagar. The dealer invoice price for a 2007 Acura TSX without navigation but with an automatic transmission is currently $26,106. Acura is currently providing $500 dealer cash on this car. This bring its dealer cost before holdback down to around $25,606. The price that you were quoted is $994 over this. That isn't a bad price, but you may want to stop by the following discussion to see how much other community members have paid for similar models lately: "Acura TSX: Prices Paid & Buying Experience". Honda Finance's current buy rate lease money factor for this car is .00280. This is equivalent to an interest rate of around 6.72%, which is in line with the rate that you were quoted. It wouldn't hurt to so some more research on this car's price by visiting the "Prices Paid" discussion, but overall I would say that this is a reasonable deal.

    Car_man
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  • Here's the info that you're looking for, sthavorn. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura TSX without navigation with 15,000 miles per year are .00280 and 54%, respectively. The numbers for an otherwise identical 48 month lease are .00270 and 45%. If you were to lease this car with only 12,000 miles per year its residual values would be 2% higher. Its 10,000 mile per year residual values are 3% higher than its 15,000 mile per year residuals.

    Car_man
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  • bkgsbkgs Posts: 1
    car man,

    I would like to ask you a question but don't know how to contact you.

    I would like to know if Ford's holdback to dealers is a standard 3% for every vehicle or if it varies by vehicle or even dealer and if so, how.

    Could you mention where I can get more detailed info than the 1-3% industry standard as well.

    Thank you.
  • kyfdxkyfdx Posts: 27,985

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Car_Man:

    What would the monthly payments be on a 2006 TSX w/navi with a selling price of $27,670, money factor of 0.00284, and residual of 52%. This is for a 36 month, 15,000 miles/year, $0 down lease.

    The salesperson quoted me $415/month.
  • I was quoted this on a 2007 TSX w/Nav. Lease 15k miles 3 years.

    Price of the car - $30,000

    Money down - $ 2,000 *

    Money factor - 0.00290

    Residual value% - 60%

    Residual value - $18,456

    Documentation fee - $110 *

    Title fee - $27 *

    Bank fee - $595 *

    Monthly payment - $399.83 *

    AMOUNT DUE AT START – $3,131.83 (TOTAL * )

    PAY OFF – YOU NEED TO ADD $1,068 TO PAY OFF YOU CAR

    $3,131.83

    +

    $1,068.00

    $4,199.83

    _

    $199.83 (DISCOUNT)



    $4,000 - TOTAL AMOUNT DUE AT START

    FREE ACCESSORIES –



    DOOR VISORS - $155

    SPLASH GUARDS - $126

    TOTAL …………….. $281
  • dealer offering $25,800 + TTL
    base TSX w\ AT
    includes all season mat

    apprx $375 \ month
    36 mnth
    15k\year
  • Car man,

    I was quoted 2007 lease 36 months 10k miles with $0 down just your start up fees roughly $1200 due it came out to $419 with tax or $393 plus tax. With the $1999 down,$359 plus tax or $380. Good deal? MI sales tax is 6%.

    Also, can you point me to a good finance calculator on the web?
  • Hi fkhan83. You never mentioned what this car's MSRP is. This is an important number when calculating its monthly payment. For now I will assume that its MSRP is $30,560. Correct me if this is not the case. According to my calculations, if you were to lease a 2006 Acura TSX with an MSRP of $30,560 and a selling price of $27,670 through Honda Finance right now for 35 months with 15,000 miles per year, its zero down, pre-tax monthly payment should be around $440. I used a money factor of .00275 and a residual value of 53% to arrive at this payment.

    Car_man
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  • Hi shoppingcar. The dealer invoice price for a base 2006 Acura TSX with an automatic transmission but without navigation is $26,106. The price that you were offered this car for is around $700 over invoice once the $1,000 dealer cash that is available on this model right now is backed out. This is a reasonable price. Just make sure that the dealer you are working with uses Honda Finance's buy rate lease money factor of .00275 to calculate your car's lease payment and you're in business.

    Car_man
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    Prices Paid Forum
  • Hi zack24. 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.

    Edmunds.com has a loan and lease calculator available right on this site. Here is a link to it: Edmunds.com Calculators.

    Car_man
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  • 2007 Acura TSX Auto -(w/o Navigation)
    I just did this very skinny lease deal shown below:

    Terms: 36 months, 15k miles / yr
    Money Factor: .00161
    Residual: 61%

    $351.22 / mo plus sales tax of $24.59 = total payment of $375.81 / mo

    Amount due at lease signing:
    $600
    includes first months pmt, tag/title/doc fee.

    I had the negotiation leverage b/c I shopped around and priced 4 different dealers. An outside dealer presented this deal to me and I presented it to my local dealer to match it and they did. If you have the time this method definately saves you alot of $$$.

    I use www.leaseguide.com 's calculator.

    Good Luck gents!
  • Congratulations on getting your new car, gator00si. Thanks for taking the time to share the details of your lease with everyone. Enjoy :) !

    Car_man
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  • Hi, I am located in Arizona and would like to get that same quote you got...can you provide me with dealer name and number
  • Here is one of the emails I recieved from Regal Acura out of Lakeland, Florida as a basis for comparison. It's close to the deal I did with my local dealer.

    Dear Eric,

    Here is the lease information you've requested.

    36 mths/ 15,000 miles yr/ $985 down/ $366 + tax per mth

    Cap cost with aquisition fee is $28,095.00-$595 =$27,500 for selling price

    We have the silver with black in stock. Let me know when would be a good time for you to come in.

    Thank you for the opportunity. We love expediting car buying and having fun. We look forward to having you as part of the Regal family.

    Sincerely,

    Darla Williams and Rita Rank
    Internet Sales Department
    Regal Automotive Group
  • Keep in mind that being across the country in AZ the market I'm sure is alot different. All the outside dealers I priced were still within 100 miles of where I live. I didn't bother pricing dealers out of state as I know and most likely the dealer knows I won't fly or drive out of state just to pick up an Acura and drive it all the way back.
  • cpa3cpa3 Posts: 88
    Just leased a 2007 TSX w/o Navigation for my daughter. Here is the deal:
    MSRP: $28760
    Cap Cost $27508 ($200 over invoice)
    Acq Fee $595 (added to cap cost)
    DMV Fees $236 (added to cap cost)
    Residual 63%
    MOney Rate .0016100
    12000 miles a year
    Drive off $412.07
    Monthly Pmt: $354.82 (includes 7.75% sales tax)

    The car had to be picked up from another dealer. They offered me anyone off their lot for $200 less.
    Nice dealership to deal with. Very straight forward and honest. Deal was done over the phone before I set foot in the place.
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