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2013 and earlier-Acura RDX Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,515
edited January 30 in Acura
Hi everyone. Please use the following discussion to post any questions that you have about leasing an Acura RDX. Thanks.

Car_man
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Comments

  • bbydadbbydad Posts: 58
    Car_man -
    to get the ball rolling -- do you know where I can find lease terms for the RDX? Do you have experience in how a manufacturer would go about estimating residuals on a car that is brand new? Do they tend to overestimate or underestimate the residual? I'm getting the sense that you may not get the best lease deals on a car model that just hit the lot, at least compared with paying cash.
    any thoughts would be welcome.
  • There's a lease incentive on the Acura site for $399x36 on the base vehicle. If I recall correctly, there's about $4500 down to get that price plus tax & the usual stuff involved. The dealers I've visited don't acknowledge the deal at all as maybe it involves a discount from list on their part. I'd love to hear what the money factor & going residual rate is from the factory if anyone can get that info.
  • rmse46rmse46 Posts: 9
    $37,165 msrp
    57% residual
    21,184
    money factor .00293
    $645 monthly payment

    $33,665
    60% residual
    $20,199
    money factor .00293
    $559 monthly payment (from memory)

    these payments include 5$ MA tax.
  • rmse46 - Thanks for the help. I spoke to the dealer today & he said the residual on 36 months is 62% & 51% on 48 months. This is in IL. I hope this info helps everyone shop for the best deal. Note that the invoice price is now available here on Edmunds.com, too.
  • bbydadbbydad Posts: 58
    Hi rmse -
    as a leasing expert, what is your opinion of these lease terms, especially when compared to other vehicles. i get the sense that they are very high compared with BMW. are you still thinking about an RDX?
  • rmse46rmse46 Posts: 9
    Leasing Expert? Good question.
    I am a financial planner by trade and I have leased a number of vehicles over the years. The last several have been through BMW financial services. My last lease was a re-lease of a my 2001 330i. The numbers were so compelling that it made financial sense to keep the car. This car is almost 6 years old and 75K miles, I am ready for a change. FYI, anyone interested in this car, there is an awesome deal available.

    Anyway, the RDX lease terms are horrible compared to BMW. So far the money factor on Acura is high about a 7.03%. You need to keep in mind that with leasing your are financing 100% of the capitalized cost and paying it down to the residual value.

    With BMW, the money factor (interest rate) is lower and because residual is based on MSRP and most of us can purchase for less than MSRP, the leasing numbers look better.

    In many respects, you will be able to lease the more expensive BMW for less than the RDX.

    I really like the RDX but I have have a hard time paying the MSRP and money factor. My lease is not up until March, so I have time but like many of you, I have been following the development of this car for almost a year.
    Rick
  • rmse46rmse46 Posts: 9
    I ran the numbers and they are not different than the lease factors that I quoted already.

    The only difference is that my numbers assume 15k annual miles.
    Rick
  • bbydadbbydad Posts: 58
    Hey Rick
    that's what I thought. the money factor looks steep. I heard that's historically been a problem with Acura -- they just don't get aggressive with their lease rates, so they lose out consistently to BMW for those who look to lease. I wonder why that is there strategy. You would think that if they truly want to compete with BMW for the sport luxury segement, they would make their leasing terms more attractive, even if it is a new model.
  • Hi bbydad. I can give you an idea of what this model's residual values are currently like. It is difficult to say how Honda Finance comes up with their residual values. They probably base them upon the residuals that are estimated by a company called ALG (Automotive Lease Guide). ALG is an independent company that estimates residual values for every vehicle sold in the U.S. How ALG arrives at the residuals that it publishes is a good question. They have a large database of vehicles' residual values and how much they actually ended up being worth in real life. They probably picked a similar vehicle as a baseline for the RDX's residual values, such as the MDX when it first came out, and then adjusted the residuals based upon how well they believe this model will be received by the general public. Anyhow, let's take a look at this truck's actual lease program. Not surprisingly, Honda Finance is not currently providing any sort of lease support on the RDX. As a result, if you were to lease one through it right now you would have to use its standard lease program. Honda Finance's buy rate standard lease money factor is currently .00283 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Its 36 month, 15,000 mile per year residual value for a 2007 RDX (not the Tech version) is a very solid 60%.

    Car_man
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  • Thanks Car_man. Correct me if I'm wrong, but the money factor seems high to me, at least when compared to other car makers? Do you happen to know the residual for a tech version? I seem to think I heard on one of the boards that it was less than 60%. Is that typical for a version with more options to have a lower residual? Thanks
  • Hi Car Man,
    I was wondering if you had residuals for a 24mo/24k lease. I am assuming the money factor would be the same. This is for the tech package.

    Thank you
  • You're welcome, bbydad. You're right, the RDX's money factor is pretty high right now. As is typical with a brand new model, Acura is not currently providing any sort of lease support on the RDX. I don't expect it to introduce any on this model any time in the near future either. In answer to your question about the RDX Tech model, its residual values are 3% lower than the non-Tech model's residuals. Vehicles that are loaded up with options, like the Tech package, often tend to have lower residual values than base vehicles.

    Car_man
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  • Here's the information that you're looking for, deserth8r. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Acura RDX without the Technology Package leased with 12,000 miles per year are .00388 and 67%, respectively. This truck's 36 month lease program is more attractive at .00283 and 62%.

    Car_man
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  • This is price for Brooklyn, NY

    Base Model - $399 per month and $1495 down
    Tech pack - $499 per month and $1495 down
  • c_hunterc_hunter Posts: 4,487
    From Acura's website:

    "MSRP $33,665.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $30,205.46. "

    Make sure you take this into account -- I think all the previous posts are basing the selling price on MSRP.
  • this month they raised the prices

    Base Model - $399 per month and $4495 down
    Tech pack - $499 per month and $4495 down

    i think next month they will lower it back wich makes no sense.
  • Any news on November's money factor and residuals for a 2 or 3 year lease with 12000 miles?? Thanks.
  • drtraveldrtravel Posts: 395
    Do you know what their acquisition fee is?

    Thanks
  • I've never leased before as I tend to keep vehicles for 6 to 8 years, so I don't know all the ins and outs. Without getting too technical, I was wondering if the new lease deal being offered (actually, looks like a continuation of same deal from October) is a good idea or not. With destination charge and options I would like, I'm looking at an MSRP of about $35K.
  • drtraveldrtravel Posts: 395
    Got an e-mail from So Cal dealer - base model $399 per month for 36 months with $2699 drive off. Of course she left out any details as to how they got this number.
  • c_hunterc_hunter Posts: 4,487
    Why not check the acura website??

    --

    FEATURED SPECIAL LEASE: Closed-end lease for 2007 RDX Automatic Transmission (Model TB1827JNW) for $399.00 per month for 36 months with a $1,705.00 capitalized cost reduction available to customers who qualify for the AHFC super preferred credit tier. Other rates/tiers are available under this offer. $2,699.00 total due at lease signing (includes first month's payment, security deposit, acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like. Security deposit waived in lease example. Not all buyers may qualify.

    Subject to limited availability. Through January 2, 2007, to approved lessees by American Honda Finance Corporation. Closed end lease for 2007 RDX Automatic Transmission (Model TB1827JNW). For well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $33,665.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $30,951.45. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $14,364.00. Option to purchase at lease end $20,535.65. Lessee responsible for maintenance, excessive wear/tear and 15¢/mi. over 10,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20¢/mi. over 10,000 miles/year. See dealer for complete details.
  • drtraveldrtravel Posts: 395
    Duh, checked the Acura website for further info. 20 cents a mile for overage!!

    Anyhow this is the lease deal I proposed to the dealer:

    Here's the info I dug up: For October for 36mo/36K miles lease, the residual of a base RDX is 62% with a money factor of 0.0028. The SUV has a MSRP of $33,665 with an invoice of $30,774. The deal I'm looking for is for the capital cost to be $31,274 (with no capital cost reduction money from me). The SUV has a residual value of $20,872.30 so the monthly payment works out to be $434.95 + tax. Money due at signing is the first month's payment plus the $595 acquisition fee. If the November residuals and money factor change I'll have to update my calculations.

    I'll let you know what the dealer says
  • kyfdxkyfdx Posts: 30,476
    That is typical for a Honda or Acura advertised lease.. It assumes a dealer discount of $1000 from MSRP..

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  • c_hunterc_hunter Posts: 4,487
    The new deal has a lower residual (61% versus the old 63%). I came up with 0.00246 for the previous MF, but it's 0.00213 now (because they held other terms the same, including $399 payment, with the new lower residual).

    It's not a super great lease deal -- I believe you can find lower interest rates by financing. The equivalent lease APR works out to 5.1% (was 5.9% in October).
  • Hello everyone, I'm new to this forum...and i just got a quote from my local dealer in Brooklyn for the 2007 RDX with the tech package. The MSRP is $37,435, they are giving me a lease price of $554 tax in lease for 36 months with 12k miles/year...first month and bank fee due at lease signing ($1500). They claim that the only reason they can give me this "great' of a deal because we have the MDX on lease at this time. I was wondering if this is an alright deal or should i continue shopping around?
    Thanks a lot in advance for all your help!

    p.s. The lease price for the car without the tech package with the same terms is $450...i thought that was alright.

    thanks again :)
  • That is high. I was offered $399 down, $499 per month +tax for 12k, 36 months.

    But that was last week when the going rate was $2000 off MSRP. Now dealers are quoting $2500 off MSRP, but I haven't noticed an increase in sales in my area. If you wait a bit, Acura will most likely sweeten the deals to move inventory.
  • Car man
    do you know what the residual and money factor is on the 2007 RDX 36, mos. 12K miles? Thanks
  • c_hunter is correct - it's six of one vs. half dozen of another. A 61% residual with a 5.11% APR is equivalent to a 63% residual with a 5.90% APR.

    Here are the lease offers in NJ I received via the Internet salespeople. All are for the base model with only 10k miles/year and include tax:

    - Acura of Denville $481/month - includes $911 in inception fees
    - Ryan's Open Road Acura in E. Brunswick $499/month - no other details
    - Springfield Acura $472/month - no other details
    - Montclair Acura no lease price, just "Pricing is set at $32,915.00 and $36,665.00 for the Tech Package"

    These are pretty mediocre numbers. I’d wait until there’s a real lease deal
  • Hi spicytuna. Honda Finance's current 24 month, 12,000 mile per year buy rate lease money factor and residual value for a base 2007 RDX are .00213 and 65%, respectively. The numbers for an otherwise identical 36 month lease are .00213 and 60%.

    Car_man
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  • Drtravel, Honda Finance charges a $595 acquisition fee on every vehicle that it leases. You can either pay this charge at lease signing or roll it into your vehicle's capitalized cost.

    Car_man
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