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2013 and earlier-Acura RDX Lease Questions

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Comments

  • clee10clee10 Posts: 2
    tpav1: Who did you work with at Acura 101 West? I got a quote from them for:

    Sale: $32,529
    Term: 36 mo
    Down: $2,500 incl all fees
    Residual: 51%
    Money: .00082
    Payment: $457

    Much higher than your quote and not sure how their math adds up.
  • I am interested in an RDX lease, don't need the tech package. I have bought/leased a few cars, but would still consider myself very much a novice.

    They are nationally advertising a deal for $2499 due at signing, $399/mo., plus tax/title. This is for 10K miles/month.

    When they advertise a deal like this, is it possible to negotiate below it? What should I be working on (i.e., am I trying to get them to bring the total price of the car down to something below invoice, or just reduce the monthly payments, or what?). For instance, could I tell them I wanted the same deal, but based off of Edmunds TMV pricing?

    Any tips would be greatly appreciated.
  • lakersfan2lakersfan2 Posts: 2
    I got one with 18K miles per year for $1199 down and $434/mo. including tax.
  • Thanks lakersfan, that sounds more like it. Can I ask how you did it, or maybe for some more details so I could use it to my advantage?
  • angelina247angelina247 Posts: 17
    A couple of questions you should ask - how many years is the lease? Shouldn't be longer than 3 years. The miles are BAD - 10K is horrible. You want a minimun of 12k/year, but you should go for 15 thousand, unless you only live 1 or 2 miles from your job and you don't do much driving. The leasing company makes all of their money from fines for going over the mileage. It's real easy to do, so I learned from several friends who lease all the time to negotiate the miles up front.
    $2499 down seems a little steep especially if you're not getting the tech package. I need to go back to my worksheet. You can use the Edmunds calculator and plug in the numbers yourself if you have time. I'll be happy to give you my numbers later on this evening or tomorrow.
    Good luck.
  • zheka212zheka212 Posts: 57
    Hi,

    any chance you can include a breakdown of your lease?

    I'm looking at the following right now in NE PA:

    2008 RDX Base
    1,232 due at inception
    461.60 monthly
    36mo/36k lease

    When I do the math, this is what I get:
    MSRP: 33,910
    Invoice (I assume this is the selling price): 31,220
    Acquisition: 595
    Residual : 53%
    MF: 0.00082

    I get 1200 at inception, 445/mo.
    TTL + whatever fees = ~$160
    Tax where I live is 9%

    Dealer claims he is doing the deal at invoice -- I didn't bother pushing him, since either my information is wrong, or he's full of it (unless someone corrects me, I choose door #2).

    Your deal would have to be about 2k below invoice. Is 1199 total drive off, or the actual down payment, and there was more $$ in addition for acquisition, first payment, etc?

    Can you post the actual selling price? Is your lease through Acura or a third party bank?

    I like the car, I just can't see myself paying more then $430/mo for it, and that does not look promising.

    Thanks!
  • angelina247angelina247 Posts: 17
    I think his invoice #'s are about right. I think it's the money factor he's fudging on a little - Tier 1 is .00072 (credit score 710 and above)
    Tier 2 is .00132 (660-709)
    Tier 3 is .00191 (610-659)
    Tier 4 is .00251 (up to 609)

    Multiply by 24 to figure out what interest rate you're getting.

    Also your state license fee seems very low - but I live in california where it is ridiculously high so maybe you're right. I'd check on that license fee just to be sure.

    If anyone has additional info please feel free to add.
  • zheka212zheka212 Posts: 57
    Actually, the MF figure is from this forum -- I didn't get any of the info from the dealer since he was playing dumb and I didn't want to spend all day with him, so if it really is 0.00072 for Tier 1 -- would be great. The invoice price is from Edmunds.

    Can anyone (Car_Man :)?) post the tier 1 numbers for a 24 and 36 month lease with 12 and 15 k/miles?

    Anyone able to negotiate a selling price below invoice? What was it? Were there exuberant dealer fees to make up for it? The dealers in PA are pretty straightforward so far -- my last lease included about $180 in TTL and doc fees (there was about a $50 mark up), so the $160 I was quoted with this lease seems right in line.

    Also, I've seen some folks post links to last months sales figures for Infinitis -- can anyone help out with Acura? I am curious to see what RDX sales look like. Thanks to all helping out!
  • zheka212zheka212 Posts: 57
    Car_man, Dennis?

    You guys still out there?

    I'm in desperate need of accurate numbers for a 2/24 and 3/36 lease on an RDX.

    Also, I know this is extremely speculative, but you deal with this a lot more often then I do -- do you think I may be better off holding out until the end of June to lease an RDX? current lease is up on June 10 -- I can manage for a few weeks without a car.

    Any help much appreciated!!
  • af145af145 Posts: 31
    Where did you get these MF numbers? I analyzed the advertised deal (36 mo, $399/mo, $2499 due at signing, including acquisition fee and 1st mo payment, no security deposit). In fine print, the Cap Cost is $31209, residual $18311, CC reduction $1505. My calculation yields MF = 0.001719, corresponding to 4.13% interest. That seemed fair to me until I saw your numbers.

    The deal is advertised on the Acura site for NY (Zip code 10306).
  • zheka212zheka212 Posts: 57
    Well, I got the MF from a dealer, but someone had posted earlier that 0.00082 was not right, so I decomposed the deal as well.

    399 is the monthly rent + interest (the payment is sans tax)
    Monthly rent is (31209.25-18311.4)/36 = 358.27 (cap cost - residual divided by number of payments)
    The interest portion is then 40.73
    MF = monthly interest / (cap cost + residual) = 40.73/(31209.25+18311.4) = 0.000822

    Which in turn matches the number provided by the dealer.
    (sorry, don't mean to sound condescending -- just wanted to show how I did the math).

    Acura's website says the deal is good through 7/7/2008, so I'm wondering if this means Acura plans to keep the current program running until then (hopefully introducing some lease cash in June to make this deal sweeter).

    When I leased my last car in 2005, Acura rolled out 1,500 lease cash on the MDX on June 9th. Hoping something like this happens with the RDX this year -- the 53% residual is making the deal too expensive for me. Thoughts?
  • af145af145 Posts: 31
    You weren't condescending at all, but you made a mistake in your math. (Sorry if *I* sound condescending :-)). The at-signing amount of $2499 included Cap Reduction of $1505 (as well as $595 fee and $399 first month payment). After that, your Cap Cost drops to 29704, and the same calculation yields 0.001719.

    Acura of Brooklyn is now offering a cool $1000 off that deal: $1495 at signing, $399/mo for Base, $459/mo for Tech, 10K miles. This is still not as good as people were getting in NJ and Manhattan (see #420, $443 with $1530 total out of pocket -- as far as I understand, that was with tax and in April). I'll probably go there this Saturday, test-drive the car and try to negotiate.

    My "problem" is that I have a trade-in: Honda Accord 2002 with lots of scratches, but under 40K miles. I want to use it to reduce the monthly payments to well under $200 for base or about $200 for Tech. So, I can't just shop over the phone: they have to see the trade-in to give me the price.
  • zheka212zheka212 Posts: 57
    Now we are getting into what I hate most -- discussions who is right instead of sharing prices :).

    Anywho -- here's the blurp from Acura.com

    MSRP $33,910.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $31,209.25.

    --> so 31,209.25 is the cap cost after deducting 1505. When you visit the dealership, check the MF with them.

    I've spoken with Plaza yesterday -- and about 10 other dealers. There is one guy in Jersey willing to set the selling price at 31,000 -- everyone else wants to be a little above invoice, not below.

    Basically, Acura increased the MF from 0.00072 to 0.00082 going into May, and pulled $1,500 lease cash that used to be there for the Tech package.

    I'm trying to get to 1,200 total drive off (all fees + 1st month) and 435/mo with 9% tax -- meaning I want a selling price of about 30,900, but no luck so far.

    With a trade it gets more complicated -- so good luck this weekend. The car is a blast -- but MPG are pretty low in Bklyn (probbly around 14) so keep that in mind.

    Let me know how you make out!
  • af145af145 Posts: 31
    My understanding of the fine print was that $31209 was after dealer contribution, but before customer contribution of $1505. I may have been wrong, especially given that you actually got MF numbers from dealers. I totally agree, let's not go into arguments here. I'll get my own numbers tomorrow. :-)

    As far as the SELLING price goes, Acura of Brooklyn gave me a quote of $30,219 for Base, $33929 for Tech. Would they use that as a lease Cap Cost -- dunno, will try. Of course, BUYING a premium-gas SUV with god-awful mileage in the current oil market is outright crazy... maybe that's why their quote is so low.

    Question: do you happen to know a decent salesman at that dealership? Last time I worked with Valeriy; this time I'm handled by Sydney. I don't like either; don't wanna go into reasons why.
  • zheka212zheka212 Posts: 57
    I got calls from Lee and Art -- both were very eager to "earn my business" and were quick to tell me that what I want is not possible. Can't say I recommend either.

    Acura is offering $1,500 in marketing support -- but it can't be combined with leases/financing. I've had "quotes" for 29,600 -- too bad that's not the number used for cap cost. :).

    Also, their service department is pretty horrible, so if you are planning to get the car serviced by a dealer and you are close to another one -- may be worth extra $5-10 a month to know that you will actually get a loaner if you ever need one, etc.
  • af145af145 Posts: 31
    I'm surprised to hear about service. I had my Honda serviced there on warranty: driver window motor blew. Brought it in the morning, got back in the evening, no problemo. What was your experience? Anyway, can't I get it serviced at ANY Acura dealer?

    I just called a guy at Curry in Westchester. He gave me the boilerplate $399/$2499; with a trade-in valued at $8000, it's $250/mo for base (including tax). Very bad deal, I didn't even bother asking for details.

    By the way, he said that in NY State the tax is paid not just for the monthly payments, but also for anything used to reduce those -- including a trade-in. :-( Maybe I should just sell the car on e-bay then.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zheka212. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a base 2008 Acura RDX with 12,000 miles per year are .00082 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00082 and 53%. I believe that this lease program is scheduled to run through the beginning of July. While it is possible that Acura would make an unscheduled enhancement to it, the more likely scenario is this is what we'll see for the next month.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • zheka212zheka212 Posts: 57
    Hi Car_man,

    Thanks for helping out!

    I figured I had nothing to loose by waiting until June -- and it's possible my hunch was right. I got a call this morning from one of the dealers I've been talking to claiming "amazing deals" on both the RDX and MDX in June. When I tried pressing him for the numbers, he admitted the residual and MF have stayed the same as in May (53%, 0.00082 on the base). He refused to disclose rebate info, but did come back with

    1200 total out of pocket
    419/mo for a 36 month lease with 12k a year and 9% tax included for the base RDX.

    My calculations are a couple of bucks off (I'm too lazy to model this exactly right in Excel), but I get a selling price somewhere around 30,400 from his offer (that's including destination). Last month the best I was able to get was 30,900. Would you be able to shine some light on any new lease incentives Acura has rolled out this month (on both base and Tech -- they had one specific to Tech back in April looks like)? The price looks good, but if Acura threw $1,000 at this truck, I see no reason to split it even with the dealer.

    Thanks in advance,

    (and to all the dealers out there -- yes, you do deserve to make money. Just no reason to make more money now compared to last month.)
  • shula1286shula1286 Posts: 1
    Hi Car Man.

    Can you tell me if this sounds like a good deal on 2008 RDX with tech package.
    Quote includes sport running boards, roof rack, and standard wheels with chrome finish.
    36 month lease. 12,000 miles. $950 total cash at delivery. $530 per month which includes tax. My tax rate is 7.75% (Orange County, CA).
    Thanks.
  • dcomberdcomber Posts: 27
    Whats the June 2008 Residual and Money Factor for a 2008 RDX Tech?
  • I recently received a quote for RDX base, for $1200 total due at signing (includes first monthly payment), $418/mo.

    I was told that MF is .00082 and residual is 51%. I was also told that Acura is offering $1000 dealer cash on the RDX beginning June 3rd.
  • The 51% is for 15,000 miles. 10K is 58% and 12K I think is 53%.
  • zheka212zheka212 Posts: 57
    Base RDX:
    MF = 0.00082
    Residual:
    10K - 54%
    12K - 53%
    15K - 51%

    Don't know about Tech, but Acura kept the program from May (so search earlier in this forum) and did add the $1,000 lease cash.

    I've agreed on a deal with $1,200 total drive off and $400 per month for 36 months and 10K a year. Selling price is about $200 below invoice. This is PA with DMV fees at around $160 and local tax of 9%.
  • dcomberdcomber Posts: 27
    RDX Tech:

    MF = .00082 (or 2%)
    Residual:
    10K - 53%
    12K - 51%

    Dont know about 15k, but as zheka212 mentioned there is a $1000 in lease cash and $1500 for traditional financing/cash. If you do lease, make sure you mention and verify the $1000 lease cash because both dealers I went to didn't "disclose" it and one didnt even know about it until I mentioned it.

    Good Luck.
  • af145af145 Posts: 31
    Which dealer?

    I'm getting at least $1300 drive-off + $490/mo for Tech, including NY taxes (8.375%). Based on your experience, I should be able to knock that down by $25-$30, since Tech is usually $50-$60 over Base.
  • zheka212zheka212 Posts: 57
    Sussmanacura in pa
    Not sure what 1300 includes - acquisition fees used to be higher in NY. My 1200 is 595 acq + 400 first month, aboui 160 in dmv fees and the change down payment. Use the calc on edmunds to check math - when I looked at tech vs base it was something like 460 vs 400. Make sure the car you are getting doesn't have extras like moldings etc. In nyc area 200 below invoice should be "easy" (before lease cash) maybe more if you contact enough
  • af145af145 Posts: 31
    Well, let me tell you -- it ain't "easy". My 1300 includes the same stuff as yours: the bank fee is 595 (+tax), first month and DMV. DMV charges vary, but 160 seems to be the average. NJ dealers are outright crazy -- I hear numbers like 1947/523 (Springfield) and 1577/521 (DCH Montclair). One more thing I sometimes hear is that Blue/Taupe is out of stock and why don't I wait for the 2009 model. For example, I got that from Acura of Manhattan.

    Why are you saying "Make sure the car you are getting doesn't have extras like moldings etc"? I'll just go for the lowest price; if the car has extras, so what?

    Anyway, thanks for the info. I'll try calling Sussman.
  • zheka212zheka212 Posts: 57
    Hey,

    what I meant by "make sure .. extras.." is that maybe that's why the payment is higher. At any rate -- also try http://www.federsacura.com/ and ask for Steve. He gave me a very decent quote last month, but it was easier for me to deal with PA dealer.

    Good luck!!
  • af145af145 Posts: 31
    I'm still searching for the best deal in the NYC area (RDX 2008 Tech, 10K miles). So far, the best one is from Curry Acura: $1300 at signing, $469/month. Other good deals (and friendly salesmen) include:
    1300/479 (Feder's Acura)
    1300/490 (Rallye Acura)

    Troy from Park Ave Acura gives me 1500/462 -- but for a different color. To get my color, he is asking for 1500/475.

    All numbers include tax & TTL.

    I think it's possible to take that to 1300/460 or even 450, but I'm sort of tired and want the car already. The dealers are increasingly less willing to match. Will make one or two more calls and call it quits...

    Any dealers reading this: if you want to beat Curry's offer, e-mail jd850 at hotmail dot com. By the way, I have a 2002 Honda Accord EX V6 4-door with low mileage as a trade-in.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, zheka212. Honda introduced a new $1,000 cash incentive on deals through Honda Finance for both the MDX and RDX in June. Acura did not adjust its advertised lease payments and it is not advertising its cash, so most dealers are probably trying to pocket it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
This discussion has been closed.