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So if you don't have the greatest credit, you can still get the best lease rates. Thought some people might be interested.
. those are added to the selling price, then reduced by the amount you paid at signing.. resulting in the final CAP cost (or amount financed).
How much was due at signing on your lease?
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The final cost of the car was $26,792 but the Gross cap cost was $27,672 .. differesce of about $880. Is that taxes? do they roll the 7% state tax up into the Gross cap cost? what else would be rolled up? They then ru
reduced the $27,672 by the cap cost reduction of $426
Thanks for helping me understand this...
Which state is that?
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I'm surprised that with all the breakdown they provided, that it didn't itemize that amount, as well.
I think the tax calculation would account for that amount..
regards,
kyfdx
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I would suggest to anyone looking to lease, ask for list detailing the Gross Cap Cost.
Have a GREAT time with your new car!
Thank you for your time and information.
Good Luck to all of us that are waiting to see what April brings...
Let me know if you get better quotes. Good luck.
Many of us here got the TSX base for below $27,000. I would continue to shop around even if it means traveling a couple of hours to get your new ride.
Did the any of the dealerships give you a detailed breakdown on their quote. If not, I would call them back, and ask that they either fax or email a detailed breakdown of their quote. Make sure they include cost of the vehicle, ALL fees, taxes, title. I would also check on how other states calculates the tax. I think I've read that Texas looks at the total price of the car, even on a lease.
Good Luck
Term: 36
Base Payment: 347.43
Total Payment: 347.43
Purchase Option: 17,952.00
MSRP: 29,920.00
Est. Miles Per Year: 15,000
Capitalized Cost 27,000.00
Doc Fees 185.00
Total Capitalized Costs 27,185.00
Money Due at Inception
1st Month Payment: 347.43
Acq Fee (Upfront): 613.36
Upfront Taxes: 878.50
Total Out of Pocket 1,839.29
Total Initial Charges: 1,839.29
the new TSX though, reminds me a lot of the old 3G TL in terms of size. i actually fit THREE car seats across teh back in the loaner TSX. it's tight..and would not be ideal for a full time family car with three small kids, but as a second car it would be fine.
the lease deals ont he TSX seem pretty cheap.
i see them advertising the 2500 down and 300month. i'm wondeirng if you jsut wnet in and said i'll do 300/month but NOTHING down if they would laugh or if that is doable.
the car market is in utter chaos....i wonder how cheap they would really sell one.
the only thing I didn't ike about the TSX was the lack of power. it has nice pull when yhou rev ethe stink out of it, but the torque is lacking. a 3G TL would blow it awayh and I wondered mayhbe i'd be better off looking for a smokin deal on a barely used 08 TL - maybe a better bang for the buck. the car looks more dated than the new TSX...but has more power.
it all depends pon how cheap i could get the new TSX for. i don't have to have power. i have a porsche boxster in my garage too that is my "fun" car....but it never hurts to have power/fun in your DD either!!
$26,987.03 sounds like a fair price for the car, which doesn't include any tax, title or fees. I suggest getting all of the extras in writing before making the deal on the car.
If you have more than 1 dealership within 200 miles, contact all them, asking for the best deal lower than the quote from your local dealership, if so, take the lowest offer back to your local dealership, ask them if they can meet or beat the lower deal. Be sure to have other dealships fax or email detail of the deal.
Most deals that I've seen since beginning my search, have been right around the $27,250, so it seems the dealerships aren't wanting to give up all of the dealer cash incentive.
Good Luck...Hope to get my own TSX soon...Current lease to mature in few months. Gives me the time not to be rushed :shades:
I think the TSX is a great daily driver. The 09 may not be as sporting as the first generation, but I also think the size is just right. If you're all about power, then find an 08 TL or better yet, an 08 TL Type S. Or you could wait for the V6 to come out on the 2010 TSX this summer. I was more interested in getting a good lease deal on 2009 and getting 30+ MPG on the highway. I wish I had an S2000 in the garage, but since I can't, the TSX is a good compromise in my mind. I'm really amazed at how much car you get in the base for around $26-27K. One thing I've noticed is that the base TSX is getting hard to find in the color you may want. This obviously has to do with the lease incentives and the fact that Acura has halted 2009 production and is gearing up for 2010. The dealers seems to have more techs than base models now, so I would expect them to start getting serious about dealing on the techs later this month.
Depending on the deal and the dealer, that may be off $10/mo. one way or the other, but I think with some competition and bargaining, easily achievable... and, a decent deal for a $30K MSRP vehicle.
If you bought the same car for $27,500 + 6% tax, a 60 month loan at 5% would be about $555/mo., with nothing down.
Hope that helps!
kyfdx
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1st year:
Depreciation, Financing & Taxes (lease payment): 400 * 12 = 4800
Fuel (from the Edmunds TCO page for this car): 2015
Maintenance (from the Edmunds TCO page for this car): 155
Insurance (from the Edmunds TCO page for this car): 2024
Total: 8994
repeating with the figures from Edmunds TCO second year:
2nd year
4800
2075
466
2095
=9436
repeating with the figures from Edmunds TCO third year:
4800
2137
419
2168
=9524
All three years together:
8994
9436
9524
=27954 27954/45000=.62 per mile Does this look right?
Edmunds purchase TCO is .64 per mile over the five years it includes. So I am saving .02 per mile to lease rather than buy over three years.
Have I missed anything here?
If you are evaluating a lease vs. purchase, you have to assume that you will sell the purchased car at the end of three years. If you keep the purchased car for five years, then you'll likely come out ahead in the long run... The longer you keep a car, the cheaper the per-mile cost, generally.
When making assumptions, you also have to take into account the certainty of the depreciation cost on a lease vs. the variability on a purchase. There are plenty of other variables, such as the opportunity cost of the money used in making the higher purchase payment vs. the lease, and on, and on...etc, etc..
I like to keep it simple, though... On the above scenario, the loan balance will be $12,650 at the end of three years, and the extra payment amount will equal $5580 (36 X $155). So, you'd need to sell the TSX for $18,230 at the end of the three years.. to break even compared to leasing..
So that leads to a few questions for a purchaser...
1) Can you sell or trade the car for that price?
2) Are you likely to want to keep driving the car for longer than three years?
I'm not sure about 1), but if the answer to 2) is no, then I would definitely lease to lock in the variables.
If the answer to 2) is affirmative, then there is no point in leasing... over a six year term, your car will likely be cheaper to operate than two consecutive 3 year leases on new cars...Although, the money will go to different places, the total outlay should be less. But, that's another variable: What is the price on the next lease? And, what is the "value" of driving a new car every three years?
The good thing about the TSX? It's a reliable Honda, with what should be relatively low repair/maintenance costs, even if you keep it to 90K miles. The lease deal is good, which makes it attractive, as well. It's hard to go wrong with this car, no matter which way you go.
regards,
kyfdx
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I have not decided on the TSX, it is still more expensive than a couple other of the cars I am considering, such as the Honda Civic and the Honda Accord. I am also still thinking of going a completely different direction and getting a Toyota RAV4, which I think is going to be almost identical in cost to the TSX at the trim level I want if I go with the RAV4. If I go with a Honda, I will be getting an LX series instead.
I'd guess, just under $300/mo. for the same terms as the TSX above...
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If anyone from Honda is reading this, the wheel covers on the Accord LX have got to go. Why do you punish people for choosing an LX?
36 months / 15k miles a year
$361.85 ($383.56 total with 6% FL State Tax)
$660 total due at signing (includes first month $383.56 and all DMV/FL fees)
I am VERY happy with my deal. I emailed several dealerships in the state that had the colors I wanted in the 6 speed manual transmission. Three other dealers said they could not go that low. Delray Acura in FL was great, in/out in an hour, did not try to sell me anything extra, they did not play any games, straight up deal.
I absolutely LOVE this car! Full of great features and lots fun to drive with the manual transmission! For me, I feel the TSX Base 6MT is a perfect balance of performance, luxury, economy and value!
Thanks for posting your details. I am in Tulsa and would also be very interested in the same deal. Did you work with directly with Internet Sales (VN)?
I'm in Connecticut and the Sales Mgr called me because he saw that my lease was up. I did lease my present TSX from them. So he must have received some end-of lease printout. He also told me about the coupon, which I didn't know anything about. I did receive the coupon in the mail a couple of days later.
Thank you