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2013 and earlier-Acura RDX Lease Questions

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  • Greetings,

    What do you think of this lease offer on 9/15/07:

    2008 RDX w/Tech Package
    Polished Metal Metallic exterior (2007's color Carbon Grey Pearl apparently discontinued) and dark interior.

    Cap cost of $34484 claimed to be $100 over invoice.
    $549.17 down (1st month + $55 doc fee)
    Money Factor of .00189
    10,000 annual miles
    Additions to cap costs of $891.78 ($595 bank fee through AHFC, $288 title (etc.), $8.78 tire)
    57% residual
    Monthly payment = $499.23 + tax = $540.42
    36 months

    OR - $3000 down for $399 + tax per month

    OR - Buy it for $710 a month on a 60 month loan

    I think that money factor translates to a 4.536% interest rate and I wonder why I can't get to 2.9% which I thought I saw advertised. My credit is good.

    Thank a lot in advance. I really appreciate it.
  • nsryker,

    I think that deal sucks. You must have spent too much time at the office and not enough time looking for the best deal.

    LMAO!!!

    Frenchy from South Bay
  • Frenchy, so what do you think is a good deal? A close buddy of mine really likes the RDX and is hoping to get it within next month, can you share some info?

    Gordon
  • I am looking at the RDX. Base Model.
    Here are the numbers my local dealership gave me
    Using Acura special on the RDX, The would be as follows:
    24mths 12k/yr = $511/mth $4,496 due at signing. 63% residual (All of the Acura lease numbers are based on a cap. reduction of $2,005.)
    36mths 12k/yr = $409/mth $4,591 due at signing. 59% residual

    24mths 15k/yr = $525/mth $4,536 due at signing. 62% residual
    36mths 15k/yr = $426/mth $4,659 due at signing. 57% residual

    The price of the car in this lease is $33,260. Money factor is .00189.

    The +/-4,600 perplexes me.
    This is what my salesperson told me it entails.
    The upfront charges include; 1st payment, acquisition fee, tax and dmv. (The $4,600 does include the down payment.) Acquisition fee is $595, it covers gap insurance, a $1,500 waiver to the car on turn in (3 different events of up to $500 each). Sales tax is the payment x 36 or 24 + down payment x 8%. and DMV is the rest.
    The DMV can very for new or existing plates, and the tax depends on the term.

    This seems like alot of $$$ down at signing.
    Can anyone make sense of this for me? :mad:
  • Thanks for the additional information, schweikb. I don't know what the exact dealer invoice price of the 2008 RDX is, but it probably has a spread of around $2,700 or so between its full MSRP and invoice price. You were quoted a discount of $2,315 on the RDX that you want. That is a very attractive price. It is less than $500 over dealer invoice. Just make sure that the dealer you are working with uses Honda Finance's current buy rate lease money factor of .00189 (for "Super Preferred" tier customers who pay a security deposit) to calculate your monthly payment and you're in business.

    Car_man
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  • Hi rdbravo. The $1,000 dealer cash that is currently available on the 2007 Acura RDX is mentioned in the following section of Edmunds.com: 2007 Acura RDX Incentives.

    Car_man
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  • Hello lkp7. You never mentioned the selling price or MSRP of the RDX 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 what this vehicle's selling price is 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.

    Car_man
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  • Hi erey1. Since Honda is not currently providing any cash incentives on the 2008 Acura RDX, the price that you were quoted to purchase one should be exactly the same as the capitalized cost for your lease. Make sure that it is because $34,794 is a very attractive price for an '08 RDX. It is probably only a couple hundred dollars over dealer invoice. Just make sure that the dealer you are working with uses Honda Finance's current .00189 buy rate (for "Super Preferred" tier customers who pay a security deposit) to calculate your lease payment and you're all set.

    Car_man
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  • Hi casolorz. If I was in the market for a 2007 RDX, I personally would shoot for a selling price of $500 over dealer invoice on a brand new one. The dealer invoice price of an '07 RDX with the Tech Package is $34,145. There is $1,000 dealer cash available on it right now, so aim for a selling price of around $33,645 and see what happens.

    As far as the demo vehicle goes, the problem that I have with demos is that dealers never seem to be willing to discount them enough for me to justify purchasing or leasing one over an otherwise identical brand new model. The exact discount that you should receive will depend upon the number of miles that the demo has, but I personally wouldn't bother with one for less than an additional $1,000 discount. If you aren't getting an absolute steal, why bother going with what is essentially a low mileage used vehicle over a brand new one that no one else has driven?

    Car_man
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  • Hi bugginout. The $1,000 dealer cash incentive that you mentioned is currently only available on 2007 RDX models. Acura is no longer providing lease support on the '07 model. You could use the dealer cash to reduce the capitalized cost of a standard lease through Honda Finance. It is not currently providing any cash incentives on the '08 RDX, just a special lease program.

    Car_man
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  • Hi nstryker. $100 over dealer invoice is an excellent price for a leased 2008 RDX. Manufacturers' conventional financing rates and lease rates are always different. The money factor that you were quoted is right in line with Honda Finance's buy rate for this model, so it is the best that one can do on it right now. This looks like an excellent deal to me.

    Car_man
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  • I agree, msroch, that is too much money to pay at lease signing. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though your monthly payment will be slightly higher, you would be better off going with a zero down lease.

    Car_man
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  • Can I expect to still get really low interest rates? or are those only if you pay msrp?
    Thanks,

    --Carlos
  • jtep24jtep24 Posts: 2
    So I just purchased a 2008 base model for the following terms:

    10K miles per year (only drive about 7500 a year)
    1000 down (only 250 cap cost reduction -- dealer would not go lower than that)
    $409 a month
    Did I get screwed?
  • jhyoojhyoo Posts: 13
    Can someone please tell what the residual and money factor is for an 08 RDX w/ Tech for 24 month and 36 month with 18000 miles?

    Thanks a lot,
  • I'm also interested in Acura's lease numbers this month. Anyone know the MF & residual on a '08 base RDX?
  • To be more specific, I'm looking at 15k a year for 36 mos.
  • Hi Carlos. The special money factors that are available on leases of the 2008 Acura RDX have nothing to do with its selling price. Shop around with a couple of dealers for the lowest possible price on the RDX that you want and then have the dealer that you decide to go with calculate your monthly payment using Honda Finance's current buy rate lease money factor of .00189 (for "Super Preferred" tier customers who pay a security deposit at lease signing).

    Car_man
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  • Hi jtep24. At first glance this looks like a pretty good deal to me, but it would be much easier for me to give you a detailed analysis of it if you were able to provide me with the selling price of your RDX.

    Car_man
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  • Here's the information that you're looking for, jhyoo. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Acura RDX w/ Tech with 15,000 miles per year are .00189 and 59%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 36 month lease are .00189 and 54%. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than this, 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.

    Car_man
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