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2013 and earlier-Acura RDX Lease Questions

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  • hollythehoghollythehog Member Posts: 1
    What do you all think?

    2007 RDX (without Tech)
    MSRP: $33,665
    Cost: $31,300
    36mths/15k
    Money Factor:.00101
    Residual: 54%
    Payment $475 (includes NYS tax of 7.8%)
    only 1st month + DMV down...thats it.

    Thanks in advance...can't wait to hear your opinion.
  • kerryhofkerryhof Member Posts: 2
    Hi Car Man,

    We leased an RDX w/tech package with cargo tray and back up sensors.

    I will just write down all the information:

    I traded in a 2000 Honda Civic with 140K miles which needed about $1300 worth of repairs. Therefore, no money was out of my pocket and the first month's payment was paid along with all taxes and fees. On my paperwork it says that total due at signing was 4193.15. Again, I paid nothing out of my pocket because of the trade.

    Payment = $491.72 includes taxes

    12K miles per year

    36 months

    Gross Capitalized Cost = $37429.50
    The agreed upon value of the Vehicle is $36834.50
    Residual Value is $19697.45

    The person we bought it from was a professional friend. Want to know if we got a really good deal.

    Thanks,
    Kerry and Eric
  • kerryhofkerryhof Member Posts: 2
    Forgot to add:

    Adjusted Capital Cost is $34429.50. They are giving me $3000 for credit for net trade-in allowance. But the total due at signing is 4193.15 so the dealer paid $1193.15 towards the car when we signed. Hope this makes sense.

    Thanks.
  • lvs23lvs23 Member Posts: 2
    Hello Car Man,

    We got RDX with Tech package. Registered in CT
    I think selling price was $34,160 + an acquisition fee of $595
    Total Due on Delivery $2,600. Which includes $1,400 down payment, $458 first month payment, $160 DMV, $299 dealership fee and something else (I don't remember what)

    Lease is 36 month with 12k miles a year. Residual $19k and $458 a month including taxes.

    Thanks in advance.
  • palleg33palleg33 Member Posts: 12
    Hello Car Man,

    Priced an RDX with tech package today and the dealer seemed very imprecise with his numbers but here is the deal.

    36 month lease
    3000 down
    12 K miles
    Monthly payment of 495.00/month including taxes

    He said he was using an MSRP of 32,600 but that didn't seem possible.

    Also, he said roof racks and running boards were an extra 1200.00, seemed steep but I can check this out.

    We live in PA.

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dosei. I have always found Honda Finance to be very lenient when evaluating the end of term condition of leased vehicles. I believe that it will waive up to the first $500 or so of damage on vehicles. You definitely do not need to purchase any additional wear and tear coverage on a vehicle that you are going to lease through Honda Finance.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mhodgie. The dealer invoice price of a 2007 Acura RDX with the Tech Package is $34,145. The selling price that you were quoted for the one that you are interested in is very attractive, it is less than $500 over invoice. Just make sure that the dealer you are working with uses Honda Finance's buy rate lease money factor, which was recently raised to .00290 for consumers who pay a security deposit at lease signing and qualify for its top credit tier, to calculate your monthly payment and you're in business.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, jmin, Honda Finance sets vehicles' residual values and individual dealers do not have the ability to alter them.

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  • hezdope07hezdope07 Member Posts: 7
    hi guys i was wondering if yall can help me out. I recieved a price quote of a selling price of 34,100. can anybody tell me how much would the payment be if i put a down payment of 3,000 (excluding tax title etc.)im leasing for 36 months, 12k. ALso does anybody have the residual and money factor??? :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello lvs23. The selling price that you mentioned looks very attractive. I believe that it is right around dealer invoice. Hopefully you finalized your deal prior to the expiration of Acura's June lease program on July 5th and were able to take advantage of the .00101 special money factor that it was providing on the RDX. For some reason, it appears as though Acura pulled the plug on its special lease program for this truck in July.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello palleg33. The most important number to find out when leasing is your vehicle's selling price. The selling prices of leased cars and trucks are negotiable, just as if you were paying cash for or financing them. Negotiate as low a selling price as you can on the RDX that you are interested in and then have the dealer that gives you that price calculate your monthly payment using Honda Finance's buy rate lease money factor.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I would be happy to calculate a lease payment on this vehicle for you, hezdope07. I see that you are considering making a large down payment on your lease. I always advise consumers against making them. Those who do risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off keeping the $3,000 in th bank and using it to supplement or make a number of your monthly payments.

    No on to the least payment that you want. According to my calculations, if you were to lease a 2007 Acura RDX Tech that has an MSRP of $37,165 and a selling price of $34,100 (which is very attractive BTW) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $575. A $3,000 capitalized cost reduction would reduce the payment of an otherwise identical lease to around $483. I used a money factor of .00290 and a residual value of 51% to arrive at this payment.

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  • hezdope07hezdope07 Member Posts: 7
    hey thanx car man for your help :) like i just dont understand why the payment is so high. last month a dealer offered a deal for RDX Tech for 36 months 12k 3000 down payment for $399 a month excluding tax. i wanted to wait for a lil bit till the price went down. but apparently things changed and now the price rose. Do you guys think that in september the selling price would go down? Or do you think i should wait for the 08 to come out and make a deal. i dont know im confused i really dont want to pay in the 400's for a tech package. i wanna get the car in the low 300's. help !! lol :)
  • bmoney1bmoney1 Member Posts: 9
    The Money Factor went up big time and the residual went down this month. That's why you see the big increase in your payment. Check out the difference in lease rates for June and July.

    June - 2007 Acura RDX w/ Technology
    24 Month – Residual 58% of MSRP – .00101 Base Rate
    36 Month – Residual 51% of MSRP – .00101 Base Rate
    48 Month – Residual 41% of MSRP – .00245 Base Rate
    60 Month – Residual 30% of MSRP – .00255 Base Rate

    July - 2007 Acura RDX w/ Technology
    24 Month – Residual 56% of MSRP – .00385 Base Rate
    36 Month – Residual 49% of MSRP – .00290 Base Rate
    48 Month – Residual 40% of MSRP – .00265 Base Rate
    60 Month – Residual 29% of MSRP – .00275 Base Rate
  • rdbravordbravo Member Posts: 3
    Carman,

    I am currently leasing a 2004 MDX and want to lease an 2007 RDX. By the end of the lease, I will probably be about 6,000 miles over my limit. I got some figures from the dealer I leased the MDX. MSRP:$34,200, 15000 miles/per year, 36 months @ $675 month, $828 at lease signing. Getting information out of them is like pulling teeth. They are sending me the residual value for the RDX lease. What do you think my strategy should be? Thanks for your help.

    rdbravo
  • hezdope07hezdope07 Member Posts: 7
    how do u guys get the numbers for the residual and money factor ?????? where where ! lol
  • sharkbitesharkbite Member Posts: 4
    CarMan and all others, what do you all think?

    I just got a deal for 2008 RDX w/o tech. It will be in stock next week.

    2008 RDX (without Tech)

    Cost: $31,675 (I was told it is invoice price + $500)
    36mths/12k
    Money Factor:0.00206
    Residual: 60%
    Monthly Payment $400 (includes CT tax of 6%)
    3000 down (includes the first month payment and everything).

    Thanks in advance...can't wait to hear your opinion.
  • jc261095jc261095 Member Posts: 3
    I am looking at this same lease deal. I am looking at not doing more than $500 down. Part of the 3000 is the cost cap reduction. $2005. The dealer should pay this. part of the 3000 is for security deposit through AHFC, since I have leased 2 other cars from AHFC and one of them from the dealer I am working with I should not have to pay this either. Also double check on the miles. The Acura website shows this lease at 10k not 12k.

    Also for those that say not to put money down on a lease because of the possibility of a wreck. If you are planning on buying the car at the end of the lease then you either have to put the money down now or later. If you are just going to turn the car in then don't bother.

    Also do not fear a wreck with an AHFC lease. They have Gap insurance built in now.
  • jmac03jmac03 Member Posts: 3
    Any word on possible new model year closeout lease incentives on 2007 RDX's, available dealer cash, etc.??
  • j_ingj_ing Member Posts: 10
    Acura RDX 2008 without tech Lease 36 months/15k a year:

    MSRP 33,195
    Selling Price 32,900
    Residual 58%
    Money Factor .00206
    Cap Reduction 1517.17
    TTL and other fees 1931.21
    Payment 449/month

    I am deciding between this and a 2007 Nissan Murano SL AWD Touring Lease 39months/15k a year

    MSRP 36,630
    Selling Price 33,440 ($1 over invoice)
    Money Factor .00032
    Cap Reduction $0
    TTL due at signing 1966.43
    Payment 448.77

    I like both vehicles. Didn't like how Acura salesman said "We don't sell near invoice, this is an Acura" and didn't give me his card.
    On the other hand, the Nissan salesman is driving the car to my house tomorrow and said I could drive it for a couple of days.

    I appreciate any input.
  • sharkbitesharkbite Member Posts: 4
    For 2007 RDX in dealer parking lot, best offer: $1000 below invoice + tax + registration fee + conveyance fee.
  • schweikbschweikb Member Posts: 111
    I have been offered:
    08 RDX Copper Bronze Met. w/Ebony
    no extras
    36 months
    $0 down
    Upfront: $300 fees, $595 bank fee, first month payment
    Monthly payment:
    12K miles (8.375% sales tax in) $485/mo
    15K miles (8.3755 sales tax in) $500/mo

    No trade or anything - how does this sound? Any input appreciated. This is NYC area.
  • carbuyer33carbuyer33 Member Posts: 2
    Here is the lastest lease quote in NJ for 2008 RDX w/o tech during my search. Anyone with RDX lease experience please advise of your thoughts. Carman please help.
    Sales Price: $31,400, MSRP $33,765
    $379.60 per month, total due at signing $3,496.10 as follows:
    cost cap reduction: $2,000.00
    first mo payment: $ 379.60
    bank fee: $595.00
    DMV: $ 265.00
    Doc. fee: $ 249.00
    tire tax: $ 7.50
    Residual @ 61%; money factor .00206 or 4.9%

    The way Acura seems to be changing the lease on this vehicle I'm hoping it will go down in a few months, however the dealer indicates he thinks it would go up as residual would go down as vehicle would be older. I've seen this lease at $369. in June.......
    .
  • stephlitestephlite Member Posts: 14
    Is that deal for Tech or Base? The prices you quote are virtually the same as what I am paying for an 07 Tech that I got 2 months ago. Just to give you an idea. Hope that helps.
  • vladlvladl Member Posts: 7
    Murano is slower on acceleration and less stable when cornering. It's suspension is also much softer and sitting position is noticeably higher.
  • schweikbschweikb Member Posts: 111
    This is obviously base model w/o Tech - right?

    How many miles per year?

    Seems ballpark to my deal on equal mileage and mine being $0 down.

    If you consider that every thousand bucks I have rolled into the lease costs abpout $29.93 per month they seem close. Thanks.
  • schweikbschweikb Member Posts: 111
    Mine is base (no Tech). I am not sure your info helps - but thanks. I will not be looking to buy at end of lease - my only concern is out od pocket at the outset and total for 36 months. The key things I like: $) cash down, 15,000 miles/year. It seems to me I should be able to get the following:
    2008 Base model
    36 months
    15,000 mi/year
    monthly lease $490 incl tax (8.375%)
    Upfront/out the door:
    $0 down
    $595 bank fee
    $300 dealer fees/dmv
    first month payemnt $490
    Total out the door $1,385

    Total lease payments - $17,640
    Total incl. bank fee & fees - $18,535
    Net effective total monthly - $515
    Car man - anyone - does this seem reasonable?
  • carbuyer33carbuyer33 Member Posts: 2
    This offer is for the Base model. 10K miles per year. Although I like this vehicle (I currently have a BMW X3 coming off lease)it still seems like alot of money for a $31K vehicle. If the lease payment was around $350 per month it would be an easier decision. I've also heard that Acura is having a difficult time moving the inventory at these prices so I'm hoping for some price decline maybe after September, although the salesman thinks it will go up even more as residual will go down as the vehicle is 2 months older. As a side note I can get into a BMW 328xi for $369., similar out of pocket total and the cost of the car is higher, around $35K.
  • homelucyhomelucy Member Posts: 9
    I've been shopping since early this summer and lease rates sky rocketted on '07's. What have people been experiencing for '08's? Do you really think the car is worth $450 a month with $3,500 down on a 12K lease? Has anyone gotten any better deals? I love the car, but why not get a more expensive FX35 for the price?!
  • waynetamwaynetam Member Posts: 18
    Because you can't get a FX35 for that price! I also looked into the possibility of leasing a FX35 and eventually decided against it because the monthly lease for a AWD FX35 with navigation and backup camera (matching the features of a RDX tech) is a lot higher. By the way my actual monthly lease is $420.32 before the tax/license.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rdbravo. You should try to negotiate as low a selling price as possible on the new RDX that you want. During your negotiations, keep in mind that Acura is currently providing $1,000 dealer cash on the 2007 RDX. If getting information out of this dealer is like pulling teeth and you can't get them to tell you what price they are charging you for the vehicle that you want, find a dealer that will be more straightforward with you. Once you know what the selling price is and you are comfortable with it, have the dealer that gives you the attractive price calculate your monthly payment using Honda Finance's buy rate lease money factor. Its buy rate for a 36 month lease of an '07 RDX is currently .00290 for consumers who pay a security deposit at lease signing and qualify for its "Super Preferred" credit tier.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Sharkbite Ohhh Haaaa Haaaa (Nemo reference :) ). $500 over dealer invoice is a very good price for a 2008 Acura RDX. Furthermore, the money factor that you were quoted for it is right in line with Honda Finance's buy rate for a 36 month lease of one for customers who qualify for its "Super Preferred" credit tier. This looks like a good deal to me. The only aspect of it that I would change is the $3,000 down payment. I always advise consumers against making down payments on leased vehicles. Those who make them risk losing part or all off them if their vehicle is totaled in an accident or stolen and never recovered. Even through your monthly payment will be a little higher, you would be better off doing with a zero down lease.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    jc261095, vehicles' residual values are based upon a percentage of their full MSRPs. Down payments on leased vehicles have no impact upon their lease-end purchase prices. The purchase price of an Acura RDX at the end of a three year lease would be exactly the same, regardless of whether one had made a $10,000 down payment or had put nothing down.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jmac03. Acura actually eliminated the special lease money factor that it was providing on the 2007 RDX in July. It replaced it with $1,000 dealer cash.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi j_ing. If I liked both vehicles equally, the attitude of the Acura salesperson would definitely be enough to push me in the direction of the Murano. Quite honestly, the Murano looks like the better deal as well. With it you are getting a vehicle that is $3,500 more expensive, MSRP-wise, for the same payment.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings schweikb. 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 this what 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 give you my opinion of this deal if you let me know what these numbers are.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi carbuyer33. While I haven't seen the exact dealer invoice price for the 2008 Acura RDX, it probably has a spread of around $2,700 between its full MSRP and invoice price. The $2,365 discount that you were quoted on this vehicle looks very attractive to me. Furthermore, the money factor that you were quoted is right in line with Honda Finance's buy rate for a 36 month lease of this model by a consumer who qualifies for its "Super Preferred" credit tier. This looks like a good deal to me.

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  • schweikbschweikb Member Posts: 111
    08 RDX base - no options
    MSRP with dest.: $33,865
    Sell price: $31,550
    36 months
    15,000 miles/year
    zero down
    8.375% sales tax in the lease payment

    Any help yopu can provide will be appreciated. Thanks.
  • homelucyhomelucy Member Posts: 9
    What dealership gave you the $420 per month number on the RDX Tech? I just got a quote of $469 without tax for an '08 with Tech.
  • rdbravordbravo Member Posts: 3
    Carman,

    I received this quote:
    15,000 miles a year for 36 months - $669/mo with $822 due at signing

    Am I crazy or is that a ripoff? I asked for the details of the calculation.

    Let me know what you think. Thanks for your help.

    RDBravo
  • kyfdxkyfdx Moderator Posts: 234,725
    I'm not sure of your mental faculties, but I'm positive that number is way too high... ;)

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  • waynetamwaynetam Member Posts: 18
    Thomas Acura in Covina, CA. So far I'm very happy with my 08 RDX!
  • rdbravordbravo Member Posts: 3
    Carman,

    You mentioned Acura is having $1,000 dealer cash on the 2007 RDX. Is that for August 2007? Where did you see that? I would like to bring the source to the dealer so I can get that dealer cash.

    Thanks. Hope all is well.

    RDBravo
  • lkp7lkp7 Member Posts: 1
    Today I received a lease offer for a 2008 RDX w/ Tech package, $2000 + inception fees, 15,000 miles/month, $514/month. Is this a good deal or should I be trying to get it down to the $475/mnth range?

    Thanks.
  • erey1erey1 Member Posts: 3
    Got an offer for 2008 RDX w/ Tech package with the following:

    MSRP: $37,365
    $599.00 per month for 36 months, 36k miles, 1st and last months payment due at signing. Also told a residual value of $21,298 (57% of MSRP).

    To NOT lease and outright purchase, a selling price offer was $34,795. NO CLUE on the leasing numbers. THANKS!!!
  • erey1erey1 Member Posts: 3
    anyone care to chime in? thanks!
  • stephlitestephlite Member Posts: 14
    I'm no expert, but using a lease calculator with your numbers (and a money factor of .00206) I come up with $477 per month, before tax. With 8 1/4% tax that comes out to $516 per month. Looks like they have a lot of padding in there. This is assuming zero money down and no other fees. You should only have to pay them first month, I've never heard of paying last month. Also, as Car Man always says, the sell price of the car should be just as negotiable whether you are leasing or buying. You might want to check with other dealers in the area to get a better quote.
  • casolorzcasolorz Member Posts: 88
    My dealer its got a demo rdx from 07 for sale with the tech package. They also got discounts on all the other 07 RDXs.
    What should I be looking at if I want to do a 0 down, 36 month, 12k miles lease?

    Thanks,
  • bugginoutbugginout Member Posts: 1
    Hi All,

    I want to know if it's possible to the the $1000 manufacturer rebate on a lease?
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