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Acura TSX Lease Questions

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  • lmp180psulmp180psu Posts: 393
    I didn't mention that I would have a trade in as well. Would the difference between the cap cost, and the trade-in value have any baring on the amount of tax charged (I know it does in PA when you buy/purchase the car)?
  • kyfdxkyfdx Posts: 31,103
    Not sure, but doubtful.. You own the trade-in, but the bank owns the leased car..

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, genix, the special lease money factor that you mentioned is available on all Acura TSX models. Acura's current advertised lease for the '07 TSX allows 10,000 miles per year. Honda Finance also publishes residual values for leases with 12,000 and 15,000 miles per year. If you need to drive more than that you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi lmp180psu. In my home state, it's not Pennsylvania, consumers actually do still get the tax credit for trading in their vehicle when they lease a new one. This is even the case if you have the dealer that you are working with cut you a check for your trade instead of using the proceeds from it as a down payment on your lease. I'm not sure exactly how this works in your state, but there is a very good chance that it is the same. You may be able to find out more information on this subject by visiting the following sites: Pennsylvania Department of Revenue or Pennsylvania Driver and Vehicle Services.

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    P.S. Go Lions!
  • lmp180psulmp180psu Posts: 393
    Thanks for the information Car_man. I will check it out later.

    WE ARE...PENN STATE!! :)
  • delta737hdelta737h Posts: 603
    Hey Penn State!

    I'm your neighbor in Ohio. I just got the following lease deal for an '07 TSX w/o NAV.....

    MSRP............................. 28,760.00

    Sell Price....................... 26,700.00

    Amounts Financed
    1st. Payment........................ 351.08
    Security Deposit...................... 0.00
    Acq. Fee............................ 595.00
    Sales Tax @6.00% x 35 x 329.77 ..... 712.30

    Gross Cap........................ 28,358.38
    Cap Reduction.................... 0.00
    Adj. Cap......................... 28,358.38

    Residual Factor (10K miles)....... 62%
    Residual (RF x MSRP).............. 17,831.20

    Money Factor...................... 0.00127
    Term (months)..................... 36

    Monthly Payment w/sales tax....... 351.08
    Monthly Payment w/o sales tax..... 329.77

    Total Due at Signing................... 156.00
    (includes doc, license, title, registration fees)

    You should be able to get the '07 TSX for between 26,550 and 26,700! I created a one page lease proposal exactly as it appears above (well, the numbers were at least aligned) and emailed it to one dealer at a time. I told them that all I wanted to hear was either a YES or a NO and that the AHFC lease agreement must be completed ACCURATELY. The fourth dealer finally got it right! You would be amazed at the number of dealerships that can't complete a lease agreement correctly or complete lease worksheets properly! Also, many lease software packages do not compute lease payments correctly when the first payment is rolled into (capitalized) the lease. All payments MUST MATCH! Consequently, sales taxes are incorrectly calculated as well. I created a TI-83/84 lease program that does every type of lease calculation imaginable.
  • mareeh77mareeh77 Posts: 2
    I've already started inquiring for prices online, but I was planning on having a co-signer if I were to fully finance. I really would prefer leasing. I found out that I would have to keep my co-signer for the full term of my lease, and that is not an option. If I were to have fully financed, I was planning on refinancing later in the year when my credit was better.

    My low fico is 620 with one medical collections left of $1200. I just purchased a home in December, but it still is not showing on credit report. Have deffered student loan of about $12,000. No open credit lines. Does anyone know if I have a chance? I heard that it is harder to get approved on a lease. Is this true? Will it affect the market factor?
  • crokerdcrokerd Posts: 5
    I am considering trading in my BMW04 X3 for a TSX07. My lease is up in August 07. Here is the deal.
    Acura Price 28760
    Selling price 27260
    Lease for 36 mos @499. including tax
    18,000 miles/year
    1,000 down

    My trade is an BMW 04 X3. Lease remaining is 4 mos @ 506.00 with 43000 miles over on the lease by 4,000.

    What do you think? The TSX is w/out navigation.
  • jpappasjpappas Posts: 16
    This lease payment seems very reasonable. Did it change or expire when the month changed (i noticed you posted in March)? If you could provide some more info on your experience, on the board or privately I would appreciate it. I'm also in PA and need to do a deal this weekend.

    BTW as far as credits on tax. Last time I did this, there was NO credit on tax from a lease or toward a lease because taxes on a lease in PA are assessed monthly on the payment, rather than at sale on the total (like with traditional financing)
  • lmp180psulmp180psu Posts: 393
    I actually haven't gone to any dealers yet to check on what they would offer. I was just trying to make sure my spreadsheet calculation were reasonable based on the numbers I posted. Sorry I couldn't help with actual experiences. I do know the special lease deals Acura has now are valid through the end on April.
  • Since the posts on this board helped me out quite a bit, I figured I'd post the details of my deal in case it might help others.

    We originally went in to buy one with no nav, but after seeing how awesome the nav system was, we decided to splurge on it.

    2007 TSX with Navigation
    Black/Ebony
    MSRP w destination = $30760
    Invoice w destination = $28282

    Sale price of car $28,600 ($318 over invoice)

    12k miles/yr, residual 60%
    Money Factor 0.00127
    Term (months) 36

    Amount due at signing: $1,186
    Monthly payment before tax: $351

    Location: West Chester, PA

    Sales experience was quick and easy. We test drove the car, then afterwards I told the salesman that based on what I'd read online and such, $300 over invoice seemed like a fair price. He said no problem, shook hands, and we were signed and out of there within the hour.

    Took the car on a roadtrip over the holiday weekend and it's great!
  • dnw1000dnw1000 Posts: 1
    I'm also looking for a TSX in Ohio. This sounds like a good deal. What dealership did you go to?

    Thanks
  • ewellsieewellsie Posts: 15
    Can you post the details of what you put down? I put together nearly an identical lease proposal for 4 dealers with the price of 28,800 here in South Florida. Two of them agreed to it but wanted to know how much I wanted to put down.

    I'm looking to probably split the first month's/acquisition fees between cash down and capitalized cost, and then pay the document, tag, title, license fees in cash as well.

    The only part I don't know is how much they will give me for my trade-in, and how much of the difference to what I owe I will have to capitalize.
  • I actually don't have the details of each fee in front of me, but I didn't put anything down to reduce the cap cost. The amount due at signing was the sum of the fees (acq, title, tags, doc, etc) plus the first month's payment.
  • ewellsieewellsie Posts: 15
    Thanks.

    Right now I am playing with my Expert Lease Pro program and trying to figure out how I'm gonna set this lease up.

    I think I would like to capitalize everything including first month's payment, acquisition fee, trade equity difference, and the tax on the sum of payments.

    The only thing I want to pay upfront is the document, tag, title, and licensing costs. I'm transferring a tag so those costs should be minimal.

    I'd rather have a slightly higher payment than have to put up more upfront, and I think I can probably change my offer down to $28,600 for a little edge in payment amount.
  • ewellsieewellsie Posts: 15
    Well I just got back from the Acura dealer, and after a few weeks of shopping around and figuring out the terms I wanted, I successfully negotiated a deal this afternoon.

    Harder than I expected, but it still worked out in my favor.

    Don't have the car yet, but I've signed the buyers order and they're going to find me one this week.

    Hopefully Royal Blue Pearl with Ebony interior. Navi included.

    The terms were as follows:

    Price: 28,800
    MF: .00127
    Residual: 60%
    Terms: 36 months + 12000 miles/yr
    Down Payment: $750
    Monthly Payment: $439 total

    The payment is a little higher than I wanted, but still less than what I was paying on my 2001 BMW 330Ci that I'm trading in.

    They only were giving me $12000 for it, but I got them up to $12,500 for the trade, which allowed me to roll the $499 dealer fee into the capitalized cost and get the down payment down to $750 from the $1250 they originally wanted.

    All in all I think I got a pretty good deal, considering the trade-in issues I had to deal with.

    I'm excited, I should pick up the car Tuesday or Wednesday.
  • rujorujo Posts: 132
    Nothing really out of the ordinary on this lease I completed today - just want to add another "data point" to all the helpful info on this board.

    Alabaster Silver Metallic with quartz interior; AT; no Navigation; MSRP 28,760
    (wheel locks and splash guards included)

    Selling price: 26,400
    Acquistion fee: 595
    Cap cost: 26,995
    Money factor: .00127
    Term: 36mo. 12k mi/yr
    Residual: 17543.60 (61%)
    Monthly payment: 319.10 plus tax of 8.25% = 345.43
    Paid at signing: 660.72, as follows
    345.43 1st mo. pmt.
    255.75 Calif. title and registration
    55.00 Document prep fee
    4.54 tax on doc prep fee (per State board of Equalization apparently)

    Thanks so much to all of you previous posters - couldn't have done it without you!

    Finally - the lease payment calculator spreadsheet at this url is, I think, an indispensable tool for accurately figuring your lease, and easily testing out different scenarios: http://www.carbuyingtips.com/download.htm
  • lmp180psulmp180psu Posts: 393
    Great deal rujo. Enjoy your TSX!

    I hope Acura decides to continue the lease deals after 4/30 since I won't be ready to lease until after May 1st (my current car is getting inspected then, and if the dealer can't fix the issue I am eperiencing, I am seriously thinking of trading in), and I am afraid they will not have this deal again :(

    What are the chances of Acura continuing the deal(s)?
  • rujorujo Posts: 132
    What are the chances of Acura continuing the deal(s)?

    You know, I think there's a chance they could get even better . . . if Acura decides to put up some dealer cash or lower the money factor. Probably not all that likely - but you never know! I decided to take the bird in the hand, since I was able to pull the trigger prior to the end of the month.
  • awoodrowawoodrow Posts: 3
    Getting ready to pull the trigger on a new TSX manual w/o navi. Any ideas on the May leasing deals (MF?). I know it is early.
  • nickooochnickoooch Posts: 6
    i recently saw an ad for the 2007 tsx base model at $299/mth with roughly 2000$ due at signing.. can anyone tell me what my payment wouuld be with just tax title and fees in Florida? thanks
  • rujorujo Posts: 132
    $311.48/mo plus tax . . . assumes a selling price of $26,400 (not the very lowest price but easily achievable on the West Coast - search the forum to see what people are paying in your area) with $595 acquisition fee rolled into the lease for a cap cost of $26,995; money factor of .00127 (assumes you qualify for Honda's super preferred credit tier); assumes tags, title, document fees and first month's payment up front.

    This is for a 36mo/10k mi per yr lease; bumping the mileage to 12k per year brings the payment to $319.10/mo plus tax.

    Residuals and money factor used for these calculations are based on TSX April lease rates - numbers could possibly change in May.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, lmp180psu. Go Lions! I think that they are going to have a big year as long as they don't lose too many good players as a result of the whole fight incident.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi crokerd. You really would be better off waiting until you are closer to the scheduled end of your X3 lease to get something new. I guess that the trouble is that you are over mileage. I can see why you wouldn't want to go any further over. At $0.25 per mile, 2,000 miles per month is the break even point where it begins to make sense to just waste your final payments and get into something new.

    Let's take a look at the selling price that you were quoted for this car. The dealer invoice price for a 2007 Acura TSX with an automatic transmission but without navigation is $26,451. So the price that you were quoted, $27,260, is around $800 over invoice isn't bad. You may be able to shave a couple hundred dollars off of it if you are in an area that has a decent level of competition, but this is a fair price.

    Acura's lease program for the TSX is regional in May. If you tell me what state you are in I would be happy to give you an idea of what it is like in your area.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on your new TSX, magicboy2. Thanks for taking the time to share the details of your lease with everyone. Enjoy your new ride.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey lmp180psu. Acura basically extended its special lease program on the TL basically unchanged for the month of May, but it is now only available in certain states. Fortunately, Pennsylvania is one of them. This car's new May money factors and residual values are slightly different though. 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 .00110 and 58%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi awoodrow. You never mentioned how long you are interested in leasing for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. 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 .00110 and 58%, respectively. Unfortunately, this car's special lease program is now only available in certain states. If you let me know where you live I will gladly tell you if you are in one of them.

    Car_man
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  • denotsxdenotsx Posts: 2
    Can you tell me if I got a good deal or not:

    Black 2007 TSX auto w/Navi & a rear spoiler
    Final Monthly payment (everything included) : $322/mo
    36 months
    12,000 miles
    $2,500 down at signing

    (if it means anything, i purchased in philadelphia, pa)

    any input would be great, thanks!
  • rujorujo Posts: 132
    May money factors and residual values are slightly different though. 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 .00110 and 58%, respectively.

    Interestingly, the better money factor but lower residual work out to the same monthly payment as using the April numbers.
  • tijuana19tijuana19 Posts: 40
    Hi car_man, can you tell me what the MF and RV are for May for a purchase in California? thanks!!!
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