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2013 and earlier-Acura RDX Lease Questions

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Comments

  • af145af145 Posts: 31
    You guys at the lala land are lucky. Here in Gotham City, no dealer offered to beat $1300/$469. Believe me, I tried. A couple offered to match it, but no one gave me a better deal. Right now they are pretty much out of their 2008 inventory. Besides, blue tech RDX's seem to be as elusive as Midas' hand.

    Congrats on your new car!
  • golfballgolfball Posts: 2
    On Monday night (7/7), I was negotiating terms on an RDX/tech and was told the money factor was .00082. The salesman gave me fair warning that 7/7 was a cutoff date for that rate.

    Sure enough, I am now being told the money factor almost doubled - to .00155 or so (dont remember exactly).

    I am no lease expert, but given the troubles in the car market and the upcoming '09 RDX release, it doesnt make much sense for Honda to make it tougher on the dealers/borrowers (which the higher money factor seems to do).

    Can anyone confirm the higher money factor rate and provide insight?

    BTW, the deal I am being offered today:
    RDX/tech
    36 month 10k
    MSRP: 41,405
    Sales Price: 35,995
    $2000 due at close
    $460/mo plus $30 taxes

    Any opinions on that deal one way or the other?

    Thanks
  • Your're right. Something doesn't sound right. Are they saying that because they don't have many '08's left and they want you to purchase an '09? I would call around to other dealers to see what they say. With the economy being so bad it just doesn't make sense. People aren't purchasing CUV's in droves right now and are going for hybrids. I smell a dead rat. What do other people think?
  • af145af145 Posts: 31
    That for '08 or '09? '08 -- ripoff; '09 -- bargain. Although... wait a sec... why is MSRP so high? Are you in Canada, by any chance? Or just have lots of dealer-installed accessories? Then just ignore me... :-)

    On Edmunds, it shows a $1500 rebate to dealer with a finance plan, $2500 without. I'm not sure if $1500 applies to a lease -- maybe not. Before 7/7, it used to be $1000, but that SURELY applied to a lease. I'm picking up my RDX '08 today, so I'll talk to the dealer about it. The finance rate is still 1.9% on 24 and 36 months. I think the dealer is playing with ya...
  • af145af145 Posts: 31
    The dealer said that the $1500 would change the terms of the lease (MF and residual), so I'd end up paying more money. In fact, that's exactly what it sounded like on Edmunds.

    So, it may be true that the terms changed on 7/7. :-( My advice to someone shopping now would be to pay cash and take advantage of the $2500 rebate.

    I'll pick up the car in a few hours and give a more detailed account of the events. So far, I got terrific service from this dealer. Knock on wood. :-)
  • It's actually .00154, but who's counting?
  • golfballgolfball Posts: 2
    Any ideas why Honda would increase the money factor rate?

    Doesn't seem like that is what a slumping industry would need.
  • Interest rates are on the rise industry wide...even the credit unions interest rates went up .4%
  • By the way, why is your MSRP so high...do you have accessories included in that?
  • af145af145 Posts: 31
    I figure, it is not beneficial for Honda to LEASE the 2008 RDX right now. Its resale value, when coming off the lease, will be depressed by the 2009's. They want you to BUY the 2008 vehicle; financing is certainly an option -- they do keep a 2% APR on loans. This way, you'll be the one taking a hit on resale when the time comes. I don't believe in the explanation that "all rates are going up". Conventional car loan rates were always far above 2%, and it didn't bother Honda until now.
  • af145af145 Posts: 31
    I have finally got the RDX, Tech, Blue/Ebony. 36 months, 10K miles; $1300 due at signing, $469/month. That includes the DMV fees and NYC taxes (8.375%). I love the car, but this is a topic for a different forum. :-)

    I got the car from Steve @ Feder's Acura. It is a 2-hour drive from my home, but it was worth it. Previously, Curry Acura gave me the same deal, but they never delivered the Blue color I requested. Right now they are still holding the $500 deposit despite several reminders; I'll give them a couple more days and call my credit card. I figure, they did not want to pay for the car swap. After 2 weeks of pulling my leg, they told me to take the Bronze/Taupe they had on the lot.

    Feder's, on the other hand, located the car and went through 2 swaps to get it for me. It was probably the last Blue 2008 RDX Tech left in 6 states. No other dealer could match the price and get me a Blue RDX -- and I called quite a few! I actually wanted Blue/Taupe, but nothing was left... I lost time waiting for Curry to deliver, the 2008's were phased out.

    Basically, great price and real customer service -- that's why I'd recommend Feder's to anyone looking for Acura in the NYC area and upstate NY.
  • I just picked up an '08 RDX Base, 36 months, with 18k miles per year allowance. $2100 down (inc. 1st month, all taxes and fees), $476/mo. I wanted Blk/Blk, no substitutions, and found one at a decent price, or so I think. Is this a fair deal, post-7/7/08?
  • af145af145 Posts: 31
    Sounds really bad, actually -- unless you are in Canada. I was just offered 464/month (1300 at signing) to pick up the Tech RDX from the dealer's lot... told him to stick it -- I already have a car.

    However, I was shopping for 10K miles, and you have 18K. That may significantly change the residual. What's yours? Also, what's your state? Someone made a deal for 425 (1500 at signing) in LA, CA. Must be a different market... maybe due to high gas taxes in CA...
  • I'm in New York City. The 18k does significantly change thigns; for one, at lease end, the warrranty is shot, because I'll be at 54k miles. At 10k, there's still 20k of mileage left on the warranty.

    Four other dealers didn't want to touch this offer. They all told me, "If you have this offer, take it. We cannot match or beat it."

    Any other opinions?
  • af145af145 Posts: 31
    What are the MF and residual?

    Actually, in NYC there are OTHER WAYS to comply with lease terms besides getting a lease with a really high mileage allowance. The additional cost is about $900, which is is much more than you over-paid (I figure, about $3000). After all, RDX Base is normally about $60 - $70 lower than Tech.

    If you are uncomfortable with OTHER WAYS, maybe it wasn't such a great idea to lease in the first place. Please don't take offense; this is just a friendly advice for the future. You probably have your reasons to lease, and I have no business telling you how to run your life.
  • MF is .00154
    Res is 49

    I haven't taken the offer, I only said this is what I have gotten as an offer. I still haven't found anyone else who thinks there can be a better offer out there.

    I appreciate your input, totally.

    Thanks.
  • You didn't say what state you are in, but I think it's actually a very decent deal. The RDX is a solid car. The black/black is beautiful (that's what I have in the tech edition) The 18k is great. Everyone who says you overpaid is going to pay on the other end. They always lure people in with low payments and low mileage - but that's how they stick it to you, because almost everyone goes over their mileage. There's almost no way you will go over your 18k. At the end of the lease you simply walk away and you are done (unless you're the type that tears up their cars). The people with the low mileage will be crying when they get that overage bill at the end of the lease.
  • I am in New York City, but purchased it in Long Island last night. I am picking it up today. Actually, I had a VW Passat leased for 3 years with 18k miles before this RDX lease, and I went over by 2k (I negotiated a deal to pay extra miles at .08 a mile)! I drive a ton for my business, but as long as I can get a good deal on a hi-mileage lease, use it well (I do take excellent care of my cars) and get a new vehicle every three years, then I will do it. I also negotiated a deal to pay any mile overage on the RDX at .10 a mile, instead of what they wanted to do - .25
  • af145af145 Posts: 31
    Looks like you got the car for about 30300. It's a pretty good deal: invoice is 31220. You could've done better if you paid cash since there is a 2500 incentive currently running; there is also a 1500 incentive applicable to leases, and I think that's what your dealer is using. A problem with such "exotic" leases is that the competition is limited. Like you said, most dealers don't want to touch it.

    I'm not sure if Honda even defines the residual for 18K. Can you check, are you leasing from Honda, or some third-party company?

    Now that you explained it, I see that it totally makes sense for you to lease. So, congratulations on your new car, and good luck!
This discussion has been closed.