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2013 and earlier-Acura RDX Lease Questions

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  • I picked up my RDX w/Tech today in NC and wanted to share the details of the deal:

    Sale price: $34995, 36 miles/10k
    Options: wheel locks, cargo liner, mud guards, body molding, cargo net --and dealer left the cargo mat in the car as well, bonus!
    Residual: $20575
    Money factor: .00125
    $1500 down (including trade) to cover fees--tax, tag, etc.
    Total monthly payment including tax: $487.61

    The deal was smooth, easy and completed over the phone and Internet. I was initially quoted about $20 more per month, but I'm told using a trade made a difference, plus they calculated my first payment off a higher money factor before realizing I qualified for super preferred credit. I am not concerned with the miles per month because I sell my cars myself at the end of the lease term, so I went for the lowest mileage to get the lowest monthly rate.
  • Congratulations on getting your new RDX, 1corndog. Thanks for taking the time to share the details of your lease with everyone. Don't forget to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: .

    Car_man
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  • Hi raymondw7. There really wasn't any reason to hurry to lease a new RDX before the end of the year. Acura's January lease program for it is basically the same as it was last month. Its money factor is lower this month, but the corresponding drop in its residual values offsets it. Acura's current buy rate lease money factor and residual value for a 24 month lease of a 2008 RDX Tech with 15,000 miles per year are .00090 and 57%, respectively. Negotiate as low a selling price as possible, ideally a couple hundred dollars over dealer invoice, and then have the dealer use the aforementioned lease program to calculate your monthly payment.

    Car_man
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  • Congratulations on getting your new RDX, dogma217. Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Thanks again and enjoy your new RDX!

    Car_man
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  • 08 base RDX(MSRP $33,910.-) selling price $32,600.- residual 55% lease factor .00090 monthly payments $480.92 including Hamilton county sales tax. total of $530.92 out of pocket.
    (this seem higher than when i plug the numbers in to a calculator)

    08 RDX TECH package (MSRP $37,410.-) selling price $35,500.- residual 52%, lease factor .00090 monthly payments $546.64 sales tax included, total of $596.64 out of pocket.
    (this is better than the numbers i get with the calculator)
    Thx
  • kyfdxkyfdx Posts: 28,621
    On the first one, try adding in $595 for the acquisition fee (add to selling price), and see if that makes it add up..

    On the second one... Re-calculate.. I think you'll find that if you add $595, that one will come out within a couple of dollars, as well..

    6.5% tax in Hamilton County, right?

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi intermd,
    What is the annual mileage allowance for those residuals?
  • intrmd, is this Hamilton County, Ohio? Columbia Acura?
  • Yes this was quoted by Columbia Acura, Cincinnati, Hamilton county (6.5% tax) ohio.

    Over the phone salesman said 12K miles for 36 months.

    I am tempted to jump this weekend.
  • dmars3dmars3 Posts: 1
    I hope this post is in there right place, anyway here goes. I leased an '08 RDX w/tech pkg back in October and now I'd like to get out of it. My monthly payments are about $558 and I haven't contacted American Honda just yet because I'm still researching what I will get next and the best method to end this lease. We really like the car but we're having a third kid (unexpectedly) this summer and there just isn't enough room for 3 car seats in the 2nd row because all of my kids will be under the age of 4. Any experiences, advice, or suggestions are appreciated. Thanks in advance,
    danielle
  • I was wondering how much each additional mile was if it was purchased up-front at lease inception? I realize it's $.20 per mile if you go over and have to pay as a penalty, but how much to buy them up front?
  • Received the following offer from a dealer. What do you all think?

    Base Selling Price: $31,730
    Tech Selling Price: $34,950

    "Based on the current lease program from AHFC, a 36-month lease for 15,000 miles-per-year on a new 2008 RDX would be about $430-440 per month.

    This is an extremely attractive lease offer with a .00090 money factor.

    Add ten cents per mile for any up-front additional miles added to the lease. Add about $50 a month for the Technology package model. We are figuring this on $1999 due at signing."
  • That's about right. I got mine last month...a lease with 15,000 miles for 3 years (base) at @$464 per month...less money down ...@$1522. Includes NJ sales tax.
  • ad12ad12 Posts: 11
    Hi, we are going to take a test drive of the RDX, considering the Tech but also the base model as well... Just wondering what the current residuals and money factor is for 36 months and 10,000 miles for excellent credit?... Also, are the offers likely to change in February? We live near Seattle.
    Thanks!
  • Intermd, I also received a quote from Columbia which is extremely close to yours. I am looking at the RDX Tech with the following specs (assuming no money down):
    MSRP 37,410
    INVOICE 34,429
    CAP 35,230
    RESID 52%
    MONEY FACTOR .0009
    PAYMENT 538.38

    I plan to add a roof rack, running boards, and splash guards, installed for $1,224, which brings the payment to 569.87. I have committed to a vehicle that is scheduled to arrive in roughly 10 days.
  • Hi dmars3. Congratulations on the expected new arrival to your family. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.

    Car_man
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  • Hello ckiggins. the money factor that you were quoted looks good. It is right in line with Honda Finance's buy rate for the 2008 RDX. The selling prices that you mentioned looks good as well. They are equivalent to around $500 over dealer invoice. If you like the RDX, I personally don't see any reason not to pull the trigger on one of these deals.

    Car_man
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  • ad12ad12 Posts: 11
    Hi, we went and test drove an RDX Tech last week and resisted buying on the spot... Since then i've solicited quotes from other dealers but the best quote we've received is from where we test drove (they've improved their offer):

    2008 RDX Tech w/ 'Pro Pack' accessory (All season floor mats, wheel locks, wheel well mouldings, door edge mouldings, and trunk tray.)
    36 months/10,000 miles
    Net Cap $35,662 (incl. aquisition fee of $595)
    53% Residual
    .00090 Money Factor
    Payment of $487 + tax = $530
    This is with $941 out-the-door

    Another dealer says that the $595 aquisition fee can be waived on these special lease deals fom Honda Financial but I've yet to see this reflected in his numbers...

    Has anyone been able to negotiate out of the $595 aquisition fee?...
    Is this quote as good as we can probably get? They claim to be losing money on it.

    Your input is very much appreciated!
  • Here's the information that you're looking for, ad12. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Acura RDX with 10,000 miles per year are .00090 and 56%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The money factor for an otherwise identical lease of a 2008 RDX Tech is the same, but its residual value is only 53%.

    Car_man
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  • Hi gzackerman. In case you're interested, $800 over dealer invoice and the use of the buy rate lease money factor looks like a pretty good deal to me.

    Car_man
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  • Hello ad12. You were smart to shop around a little bit instead of jumping right into a deal. The money factor that you were quoted looks good. It is right in line with Honda Finance's buy rate for consumers who qualify for its top credit tier. The selling price that you were quoted looks great, too. I don't know what the cost of the "Pro Pack" is, but you are likely getting the RDX that you want for around $500 over invoice. If you like the truck, I personally don't see any reason not to go for it.

    Honda Finance charges a $595 acquisition fee on every vehicle that it leases. Individual dealers are not allowed to waive this charge and I am not aware of any special promotions that Honda is running that would eliminate it.

    Car_man
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  • Went into an Acura dealer today to check out the RDX.
    Immediately fell in love. Had just left the Honda dealership to compare the CR-V, and the choice became a no brainer.
    So I'm in an incredible lease on an awful car (Saab 9-7) and told the sales manager.
    I said I'm getting an RDX in the fall when my lease is up. He said what would it take and I told him a $0 drive off and $450/mo on a 12k/36month on a new RDX with Tech Package. He said he could do it.
    I really don't have the time to sit with this guy to have him run a bait and switch but if he really can give me that deal, it seems like it's impossible to beat.
    Thoughts?
    Thanks.
    -DOC
  • 450 with Tech package seems very low. That's the price I got for base on a car they were selling for 200 over invoice. My payment of 457 incudes NYC tax though. I think you should grab it if you can for that price.
  • rich4jrich4j Posts: 12
    Looking in Chester County PA...test drove RDX...like it except for the mileage/gas stuff

    MSRP 37,410 with tech package

    Dealer says: 35,290

    555.13 Tx
    595 acq fee
    53.55 tx
    163.50 p & t

    1367.18 out of pocket

    Lease 36months 15K/year

    .00090 = 2.16%
    50% residual

    509/month lease
    Does this sound right?
  • eights38eights38 Posts: 137
    rich4j - What dealer(s) are you working with? If you need help, please feel free to email me.
  • I think that sounds very good.
  • izbodizbod Posts: 21
    I just returned my 12 mos special on a loaded Infiniti FX. I was paying $399 a month on a 49K car, stretched the lease to 18 mos before Infiniti called me cursing.

    The RDX looks like the replacement for me. I love the vehicle, wanted something with a sporty ride but better gas mileage.

    I've spoken to 2 dealers. Springfield Acura offered RDX with Tech for $498incl. NYC tax/2000 out of pocket on a 36 mos/12K lease. I walked out.

    DCH Montclair Acura broke the numbers down a lil further to me. Invoice with Tech is 34,430, 595 acq fee is standard. He says the residual is 52%, money factor is .0009 They want approx 1500 (1st mos, acq fee, plates & BS) out of pocket with a payment of $508 tax included.

    I went on Honda Financial, got pre-approved. Just trying to squeeze the best deal I can at this point. Optimally, I would love to secure a sub $500 payment with just $1000 out of pocket. However, looking at the numbers, I'm not sure this is possible.

    Re-examining at dealer #1 offer. Based on all factors, I should be able to get them under $508 with $1,500 out.

    Any thoughts?
  • izbodizbod Posts: 21
    Update - shaking Springfield Acura for everything I can. The last quote was $1,500 out of pocket with a $495 payment (which includes NYC 8.375 tax). Based on 1st payment, $595 acq fee, and factoring plates/doc fees, this deal seems pretty lean and mean.
  • I was offered an 08 RDX (no tech pkg) lease for 36 mo/12K for $478. This price includes the tax ($2,000) but I need to pay title and tags upfront. Does this sound like a good deal?
    Thanks
  • What is the money factor and residuals for February for a 36 month, 12,000 mi/yr lease?

    How much should I expect to pay over the invoice? Are there any incentives? What is the best deal I can get now?

    Between RDX and BMW X3, which is a better car and which I can get a better deal on?

    Thanks!
This discussion has been closed.