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Acura TSX Lease Questions

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  • Illinois does tax the entire purchase price.. Texas does this also.

    I'm not sure how the Edmunds lease calculator accounts for taxes, though I'm guessing it just applies the tax percentage to the payments. Illinois' tax treatment of leases is unusual, and I doubt the calculator accounts for it.

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • crubycruby Posts: 2
    I was just at the Acura Dealer in Wayne, NJ on Rt. 23 South this past Saturday.

    They offered me the below 36-month 12K lease deal on a 2006 TSX with Navi.

    $379.00 per month (36 months) (Includes Tax)
    $3000.00 down (Not including first months payment)

    Gross Capitalized cost = $29,949.34
    MSRP = $30,505.00
    Residual Value = $17,997.95
    Depreciation & Amoratized Amount: $8,951.39
    Rent Charge: $4692.60
    Total of Base Payments: $13,643.99
    Total of Payments: $16,644.00

    Is this a decent deal?
    I appreciate your response.
  • bs0bs0 Posts: 27
    Hi,

    I gather leasing in IL is not good (i have not leased a car in this country before) due to the sales tax. If i live in IL, can i lease a car from a dealership in Wisconsin and save some $$? Is it worth it on a mid 20's car like an acura tsx or civic si sedan?

    thanks.
  • bs0bs0 Posts: 27
    OK, so i can get:
    tsx (MT, no nav)
    - msrp 28560 - according to dealers web site
    - negotiated price - $26351
    - residual - 60%
    - money factor - 0.00290
    - miles - 12000
    - term - 36 mths
    - acquisition - 595
    - security - 425
    - total down (out the door cost) - $2000

    giving $409.75 monthly payment. is this good?

    thanks.
  • bs0bs0 Posts: 27
    If a dealer says 60% residual is that 60% of the msrp or 60% of the price u negotiate??
  • mlb11mlb11 Posts: 31
    bs0,

    I've been dealing with Chicago dealers on a TSX over the past week and one of them quoted me via email $26100 for a TSX auto w/o navi on a 36 month, 12k a year lease with all of the other items you mention, including the same money factor. They did this without hesitation; therefore, you may be able to get your negotiated price down. I have seen prices now fairly consistently below $26k and even one at $25,300 (although this was from someone in CA where it seems prices are always lower on TSXs).

    I also heard that Acura may be preparing to lower the money factor on '06s once the '07s start showing up in order to clear more of them out. This is rumored to possibly take effect in a week or two.

    Also, on residual it is the residual on the MSRP and not negotiated price.
  • bs0bs0 Posts: 27
    mlb11 - thanks a lot, i will push the price a bit more....is the edmunds calculator acurate with the IL tax situation - just trying to figure out if the $409 is right without any other 'stuff' in it!
  • mlb11mlb11 Posts: 31
    bs0,

    The edmunds lease calculator does not work for calculating IL tax. I checked this by having one of the dealers fax me their worksheet. What you need to do is calculate the tax first and add it. I now use a slightly simpler calculator found here:

    http://www.leaseguide.com/calc.htm

    I then calculate my tax seperately and then add on the aquisition fee ($595) and put the final value in "costs added to lease". Your cap cost reduction is then your downpayment. One other item to remember is that usually your first month's payment and IL tags ($143) will come out of your downpayment - so figure on taking $450 to $550 off your downpayment first, then put the remainder into the cap cost reduction. This should get you very close to the $409. Once you are close, you can then play around with different numbers and see how good a deal you can get.

    Good luck! I'm going to hold out a little longer and see if these money factors drop....
  • bs0bs0 Posts: 27
    thanks mlb11 - i will have to 'fiddle' with the xls i created and see what i can get - i really don't care too much about $5 or $10 here and there...it's only an issue if they are trying to really stick it to me with $50 to $100 /month or something!!

    So - do u or anyone have any inside info on the '06's? I have a manual, charcoal that i have my eyes on but 2 different dealers seem to each have 1 so maybe i can afford to wait if u think the MF or prices are going to drop within the next month max.
  • mlb11mlb11 Posts: 31
    I wish I had more info. I was actually going to go to the dealers again this week, but I read that off of the tsx.acurazine.com forums. It apparently came from one of the dealers. It makes sense to me since acura ran a 24 month lease special on the TL earlier this year with a money factor of .00136 - now that would be more like it!

    I'm in the same boat with you also - I like red in the TSX and there are currently 5 of them. This is a bit of a risk to wait, but I think I'll roll the dice. Since there are 2 in your case, I wold probably be more pressured to head out and see what they can do....also remember, the end of the month is fast approaching. That should give you more negotiation leverage as well. If you do decide to buy, please post back and let us know how it went. If I hear more on the change in money factor, I'll post it here.
  • 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? :)
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