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2013 and earlier-Acura RDX Lease Questions

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  • Hi wmdavis1. Acura is currently providing a little lease support on the RDX. Its special money factor for this model, .00213, is equivalent to an interest rate of around 5.1%. This isn't amazing, but it is better than the money factor that was available on this model last month. The advertised lease for this truck isn't bad, but you probably will be able to negotiate a larger discount than the one that was used to arrive at the advertised payment.

    Car_man
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  • Hi klutzie. You never mentioned the selling price of the RDX that you are interested in leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary 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 its selling price is.

    Car_man
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  • Here's the info that you're looking for, jakpenn. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Acura RDX with 12,000 miles per year are .00213 and 58%, respectively.

    Car_man
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  • hstuhstu Posts: 3
    Carman, This is my first post, which may appear evident. I am in S.C and was just offered this on a RDX w/Tech with Sticker of $37,165 + Protection Pkg? $375. The dealer said would offer $500 over invoice which he said is 33,960.14. Cap Cost 34,460.14 36 Month Lease, 15k yr. No Sec Dep.but the service charge and acquisition fee rolled into lease, Mthly PYMT of $530.10. I would pay at lease signing $855.10 which is first month's pymt and Tax, Title and License. Residual 55%, money factor supposedly .00213, residual 20,400. I think I have all of this right. Is this a good deal, or should I wait until after 12/4, do you think it could look any better then? There are plenty on the lot. Would prefer MDX, but too expensive....
  • topgun7topgun7 Posts: 409
    hstu, your number look very much inline with Car_man's post just right in front of yours (money factor and residual for tech package which is normally 2-3% lower than non-tech package). So if you are waiting, you are really waiting for either (1) the dealer lower the price (no charge of the protection package or even closer to invoice) or (2) wait for Acura to lower the money factor since RDX is not moving well. Personally I would wait for year end (try after Christmas but before new year) where dealer are more desperate to move inventory. May be you can get to invoice with the protection package throw in which should make your monthly payment go do to between 500 to 510 a month. The money factor thing is anyone's guess. But Car_man probably can find out the Dec number soon...
  • hstuhstu Posts: 3
    Thank you for your response. Of course the dealer said that they couldn't imagine the deal being any better after today, Dec. 4th when current offer ends. Mentioned something about subrograted offer ? Can't remember the term he used. Saying that it was just such a good lease program that he couldn't see it being any better. Of course what do I expect for him to say. I am going to wait a bit, with the amount of these cars on the lots, it is hard to imagine the deal not getting a little sweeter. Plus, I don't have a problem waiting.....Thanks again for your response...It's all about saving a dollar ya know....
  • c_hunterc_hunter Posts: 4,487
    It's not a good lease program -- the money factor is too high. They are offering 3.9% financing over 3 years, which makes more sense. That would be the incentive to take, not the lease.
  • Hi there Carman and Kyfdx. Here's a scenario for you. Got two internet quotes for RDX with Tech pkg of $34,499 and $34,560 from two dealerships in the SoCal desert area.
    In the initial post from Edmunds "request a quote" I did mention I might want to lease. So here's the dilemma. Currently have 05 Jag Type S with 40K (paying around $600 month) on it and another year or so on the lease. There's about a $10k early buy out figure if I remember correctly from about two months ago when we were looking @ Rav4 (didn't like). So how does one proceed towards moving on the RDX - I know payment will be higher than what they would normally be - in order to get them to take the Jag? (If I could get the payment to be the same I'd do it I think.) Secondly, how do I know if it's a decent deal? Or is this not a good idea in the first place?
    Many thanks for a wonderfully informative site. There's a reason you guys are #1!!!

    Monk
  • Hi Carman and Kyfdx and thanks in advance for your insight. I want to lease a RDX (no tech). I also know i need 18k miles a year. I am looking at a 36month lease with little to no money down. I have gotten only one response thus far and its for $530 a month which seems way too much? I want to get into the $400 per month. Am I asking for too much? Would waiting till last week of the year make a difference?
  • topgun7topgun7 Posts: 409
    We terminated lease early on several Lexus. First we called the Lexus financial to find out the buy out value. Then, we took the car to multiple Lexus dealerships and find out how much they want to pay for the car. And we pay the difference between the payoff amount from Lexus and what the dealer is willing to pay. In our last Lexus, we traded it for a Mercedes and rolled the difference into our payment for the Mecedes. The process is the same, except we have less leverage (since no one else is bidding on the car). It depend how upside down you are. In some case, if it is too severe, the manufacturer may not approve to roll all the difference into the new lease (e.g. The new car MSRP is 35000, negiotiated cap cost is 32000, but someone is 10,000 upside down on the old car. In this case, the manufacturer probably won't allow rolling the full 10,000 difference into the new lease since they are running the risk that if the car is repossed, they may not be able to recover the full amount). Good luck...
  • Thanks topgun7, that makes sense! I was trying to determine the best way to approach the issue and now I know.
  • Welcome hstu. $500 over invoice is a good price for this truck. You shouldn't pay for the "Protection Package" though. It isn't really necessary. Dealers just use packages like this to add additional profit to deals. The money factor that you were quoted for this model is right in line with Honda Finance's current buy rate for it. This is a good thing because it means that the dealer is not trying to mark your vehicle's money factor up to add additional hidden profit to your deal. So the bottom line is that $500 over invoice is a good price and the money factor is right. I'd be happy to calculate a lease payment on this truck for you that you can compare to what the dealer is quoting you, but in order for me to do so I need you to provide me with this truck's full MSRP.

    Car_man
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  • Hi Monk. I'm glad that you find this site so informative. Unfortunately, it is going to be fairly expensive for you to get out of your Jaguar lease so early. You would be much better off waiting until you are closer to the scheduled end of your current lease to get a new vehicle. If you can't wait, you will have to get the dealer that you get your RDX from to purchase your Jag through the bank that you are leasing through. Chances are it is going to cost thousands of dollars more to purchase than the dealer you are working with will be willing to give you for it. You are going to either have to pay the money that you are upside down on your current lease out of your own pocket or roll it into your new lease. The 2007 Acura RDX with the Tech package has a spread of around $3,200 between its full MSRP and dealer invoice price plus the dealer is going to want to make some money on it, so let's say that you have around $2,500 to play with. If it is going to cost you more than $2,500 to get out of your current lease you are going to have to pay that money out of your own pocket, plus pay more per month for your RDX than you should. The bottom line is I personally would wait until I was closer to the end of my lease to get something new.

    Car_man
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  • Greetings potato1. I would be happy to give you an idea of what the RDX that you are interested in will cost to lease right now. In order for me to do so I need you to provide me with its full MSRP and approximate selling price. You can look up its MSRP in the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get an idea of how much you will have to pay for this truck right now by visiting the following discussion: "Acura RDX: Prices Paid & Buying Experience". Let me know what these numbers are and I will use Acura's current lease program to estimate what this vehicle's monthly payment should be.

    Car_man
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  • Hello all - thanks a bunch for all of the great information. Just to confirm, is the current AHFC money factor on a 36 month RDX lease 0.00213 (with a residual of 60%)?

    Thanks!
  • I am being told by one local dealer that the residual for a 36 month lease is 57% (as opposed to 60%) through AHFC. Is this correct? Thanks again!
  • ThanKs for your help. An RDX w/o tech package has a MSRP of $32,975 and a selling price right now of around $30,550 in chicagoland which I don't mind traveling to o get the deal. Milwaukee dealers don't deal. If I want an 36 month lease with 18K miles per year what would a good deal look like? I've heard with the low financing rates they aren't really set up to lease- just to buy. Any thoughts?
    This forum is SO valuable-THANKS!
  • mftmrtmftmrt Posts: 17
    What is the current rate for RDX with tech, 36 mo / 10K miles? I was quoted .00146 & 56% and assured that this did not reflect a markup over Honda Lease Co's rates. Is that right?
  • mftmrtmftmrt Posts: 17
    Hearing nothing to the contrary here, I went for the deal with the above rates and a price slightly under invoice. I verified my good deal the old-fashioned way: I proposed the same deal to two other dealers who let me walk.
  • mcb00mcb00 Posts: 2
    I have been offered a similar deal. Details are as follows:
    $400/month, 3 years/30,000 miles
    $2950 due at signing (1st month pmt, all taxes & fees incl.)
    .00146 MF, 59% residual, selling price $32,500 (base model)
    How does this sound? I have a feeling that the longer I wait, it can only get better.
  • What "deal with the above rates" are you speaking of please?

    Thanks
  • mftmrtmftmrt Posts: 17
    See my Jan 13 post re "the above rates"
  • Here is what i was offered in northern NJ
    Selling Price: 31500 for the base (2K off MSRP)
    Money Factor: .00146
    Residual: .58
    $409/month + $3000 down. Any feedback?
    This is 36mo 12K miles lease including the taxes / fees
  • Hi pittpanther. Honda Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura RDX without the Tech Pkg. with 15,000 miles per year are .00146 and 56%, respectively.

    Car_man
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  • No problem, potato1. According to my calculations, if you were to lease a 2007 Acura RDX without the Tech Pkg. with an MSRP of $32,975 and a selling price of $30,550 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $408. 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.

    The 2.9% to 3.9% special financing program that Acura is providing on this truck is only for conventional loans, not leases. Having said this, Acura's money factor on it is pretty good right now. A factor of .00146 is equivalent to an interest rate of around 3.5%.

    Car_man
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  • Hi mftmrt. the dealer that quoted you these numbers is being very straightforward with you. They are right in line with Honda Finance's current lease program for this truck.

    Car_man
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  • Hi mcb00. The money factor that you were quoted is right in line with Honda Finance's current buy rate for the '07 RDX. This is a good thing. The payment that you were quoted looks pretty good to me, but I would be happy to give you a more detailed analysis of this deal if you provide me with this truck's MSRP.

    Car_man
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  • Hi anatolych. A base 2007 Acura RDX has a spread of around $2,900 between its full MSRP and its dealer invoice price. The price that you were quoted is probably around $900 or so over invoice, which isn't bad. Furthermore, the money factor that you were quoted is right in line with Honda Finance's current buy rate for this truck. The only problem that I have with this deal is the $3,000 down payment that you are making. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. Consumers who make a large cap cost reduction on their leases risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • mcb00mcb00 Posts: 2
    Thanks Car_man.
    The MSRP on the vehicle is $33665. The dealer quoted a selling price of $32500. This is for non-tech version of course.
  • mlb11mlb11 Posts: 31
    Here is what I got from a Chicagoland dealer:

    Gross cap cost: $33163
    Cap cost reduction: $2000
    resdiual: $18852
    rent: $2628
    leading to a 36 month/15k per year lease payment of $415 including tax.

    The agreed upon cost of the vehicle was $31480 and included $1387 in IL tax. Also included were all season mats, splash guards and wheel locks.

    Hope this helps someone!
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