Acura TSX Lease Questions

XxHaimBonxX · March 2009

Not sure what is a doc fee since your registration fee was more than enough. Taxes are probably paid upfront, therefore they are rolled in. $426 was to lower your gross cap supposedly to lower monthly payment. Other than that looks a little high, but ok. Enjoy the car!

lwwgr1 · March 2009

Which dealership did you finally sign with?

marys236 · March 2009

Found this on the Acura Board: "While Acura sales decline proportionate to industry average, Honda Financial services has chosen to ease restrictions on lending, yet, theyve chosen to not publicize the effort. . . .They have now taken the Preferred away and replaced it with only Super Preferred and now in order to get the best lease/buy rates from Honda all you need is a 660 or above and a good payment history and credit to debt factor."

So if you don't have the greatest credit, you can still get the best lease rates. Thought some people might be interested.

kyfdx · March 2009

Looks like about $1380 in charges on your lease..($249 + $595 + $7.50 + $187.50 + $340)

. 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?

liz15 · March 2009

Yes it was $1,378 (included first month payment plus $426 cap reduction .. total down $1.805.

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...

XxHaimBonxX · March 2009

You can upload the image of your contract with few things blacken out and get a real answer instead of speculated guess.

kyfdx · March 2009

The tax thing would make the most sense... There are probably ten different ways to figure the sales tax, depending on your state.

Which state is that?

liz15 · March 2009

New Jersey .. the tax here is 7%

kyfdx · March 2009

I'm fairly certain that NJ taxes the total payments (lease payments + downpayment) and collects that amount upfront. Added to the CAP cost, in other words.

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

marys236 · March 2009

Does anyone have a feel for whether the $750 marketing support will be extended past 3/31? I have a deal on a TSX base for $27,000, but its at a dealership about 2 hours north of me, and I really dont want to take off work and drive up there, but I do want the car. I planned to go this past Saturday, but the snow storm prevented it. My local dealership wont come down from $27,400, to meet the other dealerships price, really annoying. Im just trying to decide if I want to roll the dice and see what the deals are like for April.

GTIGR · March 2009

I'm pretty sure that the current leasing program runs through April until May 1. I got an offer on a TSX and the dealer told is valid for the next month too.

marys236 · March 2009

Yes, I know the lease special runs until May, but I wasn't sure about the $750 marketing support. The dealer said he did not know if it would be extended past 3/31. Seems like it should be, I don't think sales have been too good.

memesgoofy · March 2009

From looking at many offers from dealerships over this last week, I would say it's how the dealership is rolling the extra 6000 miles into the lease. $880 divided by the 6000 miles comes to about .146666/mile. They gave you a small discount on the usual .15/mile. I still think you got a great deal.
I would suggest to anyone looking to lease, ask for list detailing the Gross Cap Cost.
Have a GREAT time with your new car!

memesgoofy · March 2009

If you don't mind my asking, from your contract, what was the base payment amount and the monthly tax amount. The state I live has a lower rate for car purchases. I ran your numbers (from ones you gave in your post), and came up with a base payment of $332.34, but I was missing the money factor (I used .00215) and Residual Value (I used $18,849.60), giving me an amount of $11,964.20 for total base payments.
Thank you for your time and information.
Good Luck to all of us that are waiting to see what April brings...

AXM23 · April 2009

In my opinion a good deal on a base TSX with 10k a year would be around $2000 out of pocket and close to $300 a month considering the deals that some of us got in recent weeks.

Let me know if you get better quotes. Good luck.

AXM23 · April 2009

Mary,

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.

marys236 · April 2009

The deals in my area don't seem to be as good as some I've seen on this board. I'm in Oklahoma City, and my local dealer is stuck at $27,400, won't come down at all. I checked with dealers in Dallas, but did not find one willing to come down to $27,000. Scholfield Acura in Wichita Kansas has the best price in my area, at $27,000, which is about 2 hours from here. I would love to get something better, but don't seem to be able to around here. Also, I don't have the extra $750 coupon for people with current Acura leases that some people had. Though I know some people got a better deal without the coupon.

memesgoofy · April 2009

I haven't seen anything yet, but seems that they come out in the newspaper on Friday and Saturday auto section. Hope to see something tomorrow.
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

marys236 · April 2009

Well, I cant say enough about the service at Scholfield Acura in Wichita KS. I got my TSX today, they drove it all the way to OKC to deliver it to me at no additional charge. The agreed price was $27,000, which I know is not as good as some people have gotten, but it seemed like the best I could do in this area. Anyway, I am very happy with it. The lease terms are 36mo/15k, 60% residual, .00215 MF, payment is $347.43/mo. In Oklahoma, you pay the taxes up front, they are not added into the payment. Love the car, its the crystal black with parchment interior, just beautiful.

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

angleral · April 2009

Does anyone know if specials are run during area auto shows? I am wishing to get a TSX base model, was wanting to purchase but there is no incentive for purchase, only lease. Should I look now and lease or wait it out a little longer and hope for an incentive?

23109vc · April 2009

got a TSX base as a loaner while my MDX was in for service. nice little car. it's a lot bigger than I had expected. in the past i had looked at the 3G TL as a second car (MDX is wife's car / family hauler) but i have an old POS as a DD - that is in need of replacement. i had looked at the 3G but just never got excited to pull the trigger. wanted to see the new 4G TL and now that the 4G TL is out i don't like it. fugly car.

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!!

memesgoofy · April 2009

The lease deal for $300/mo is based on a Net (adjusted) Cap Cost of $26,132.03 with a cap reduction of $1605. (added together = $27,737.03). The $750 marketing support is back until 5/4, I would use it! (27,737.03 - 750 = 26,987.03)
$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:

memesgoofy · April 2009

Yes, back until 5/4

acuhonfan · April 2009

I've been working a lease deal on a base TSX for some time now and wanted to share some thoughts so far since this forum has been helpful to me. To your question about whether a dealer would laugh at nothing down and $300 a month, my experience would be yes. They would say come back when you're serious. I personally don't like putting a bunch of money down on a lease, so my mission has been to see how little I can put down. I was comfortable with a $350-$360 per month including 6.5% tax. An advertised payment of $300 is really $320, keep in mind, if you include tax at my rate. To lease a base TSX for 36 months with 12K per year at a payment of $350-$360, required that I put down a little over $600 up-front. That $600 is total out-of-pocket at signing and includes the first month's payment. The dealers I talked to clenched their buttocks at this deal. One of them just said no, they can't do it. So I think in this range, with that amount up-front, you're getting close to their walkaway. I'm sure some people have done better but most of the posts I've read involve a lot more out-of-pocket. Watch out for all the fees. If you put more down, make sure it goes toward capital and not goofy fees.

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.

pshooper · April 2009

I have been following the TSX leasing figures for a couple of months. I drive about 15,000 miles per year and I am trying to determine if a lease will be equal to or less than buying a car. This would not go only for the TSX, but for any comparison. I tried crunching the figures but I am not confident I have taken everything into account. I live in Michigan, so my tax is charged per payment and not on the whole retail price of the car ( I think anyway). Can anyone help me understand what my TCO per mile will be on a 36 month lease of a TSX base @ 15000 miles per year?

kyfdx · April 2009

Given the prices here, and the ads that I've seen in my local paper, a 3yr/45K lease on a base model is going to run about $400/mo., with only the first payment upfront, and including 6% tax on the payments (which is my local rate).

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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pshooper · April 2009

That helps some. So let's say I leased at $400 per month for 36 months. My cost per mile the way Edmunds figures it for a purchase would be:
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?

kyfdx · April 2009

I think you are making it a little too complicated (though I understand the thought process).

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

pshooper · April 2009

Your calculation looks correct and by looking at what Edmunds TCO says the expected resale value is at three years ($18,197) it would seem that leasing and buying are so close over three years that they are no different in $. It would seem safe to lease to start out with and then buy the car at the end of the lease if I wanted to keep it longer. I get a free "out" at three years if I want it, so to speak.

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.

kyfdx · April 2009

A different car... but, if you are open to leasing.. The Civic Hybrid has pretty good rates right now..

I'd guess, just under $300/mo. for the same terms as the TSX above...

pshooper · April 2009

I know the Acura is a higher end car. I would like to own an even nicer car than the Acura and had plans to do so before last July. Economic uncertainty has lead me to be very cautious about committing to anything too expensive right now. I'm currently the owner of a 2004 CRV EX. It has been great, but I would like to tow a small trailer and the RAV4 with the 6 cylinder can tow 3500 lbs whereas my CRV can't tow enough to make it worthwhile to try. I need a second car for the wife and I have the choice of getting a new car for me or for her. She would be fine with any safe car that will drive in the Michigan winters. The CRV does do that well. But it has 80,000 miles on it and needs tires and brakes. It seems I might want to trade it before its resale goes down more, although it has no other problems and could easily go 250,000 miles. (I have a friend who has that on his 2004.) Anyway, this is how I came the the list of cars I am considering. The TSX would be kind of a consolation prize for me not getting the real luxury car I was planning on last year if I went for it.

acuhonfan · April 2009

Have you driven both an 09 4 cylinder Accord and the 09 TSX? I know the TSX is just a fancy European Accord, but boy do they feel different. The V6 Accord has a similar MSRP to the TSX, but doesn't appear to lease as well right now. Leasing a 4 cylinder Accord LX/EX/EX-L would save you some money and you'd get a bigger car that takes regular gas and is cheaper to insure, but it's quite a different car.

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?

jamber · April 2009

I just leased a 2009 TSX Base Manual Transmission for:

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!

pshooper · April 2009

I drove the TSX, but not the Accord. TSX steering was a little sensitive to me, but I could probably get used to it. The insurance costs on the TSX are really weighing heavily on my decision. I am going to call my insurance company Monday and see exactly what I would be paying. It looks like they are close to $75 per month more for the TSX!

XxHaimBonxX · April 2009

When I leased my TSX, I switched from Geico to Allstate. 6 mos premiums are about $90 lower then if I would stay with Geico. Also, even Civic with Geico is about $30 higher then my TSX with Allstate. My point is that you should shop around. Maybe fill out a few online quotes. Allstate is now directly competing with Geico, they might give you a better rate.

marys236 · April 2009

My insurance agent told me the TSX is going to be about $80 more per month then my 4cyl Accord EXL, I'm going to shop around and see if I can get it cheaper. I thought it would be a little more, but didn't expect that big of an increase.

XxHaimBonxX · April 2009

$80 per month!?!? That's about $900 per year!!! What area are you from? I would try Allstate online. If you answer all questions honestly, you can get an pretty accurate quote without running the license and VIN.

dolsey01 · April 2009

Here in Boston, my rates went up $300 a year from a 2006 EX-L V6 Accord to the TSX. Since my payments went down almost $300 a year on the new lease, it was a wash. $900 a year seems outrageous. I'm even being surcharged for a fender bender 3 years ago. I think my total premium is $1600 and insurance here is $$$$$$$.

XxHaimBonxX · April 2009

I guess it could be worse. You could be living in NYC, or pretty much anywhere in NJ.

joey660 · April 2009

Dealer offered TSX w/o nav: 10,000 miles/yr, $316/month(including tax, reg,etc) with $1680.00 due at signing. This includes $750 ASAP coupon from Honda Financial. This is "out the door". This seems to be the basic offer from Honda Financial for those who previously leased an Acura. Good deal? or should I ask the dealer to give a little more since the deal he's giving me is really a Honda Financial offer not anything directly from the dealer - as far as I can tell?

XxHaimBonxX · April 2009

Couldn't hurt to ask more, why not? Looks like a pretty good deal so far. I didn't get your last sentence, every purchase goes through the dealer. That's who you negotiate the price with, not with Honda. Whatever you see on TV is just a general idea what you could be paying. It's up to the dealer to see you for less, or more.

tmorris42 · April 2009

Mary,

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)?

AXM23 · April 2009

Damn HaimBonx! I now live in NJ after moving here from the Bronx! Rates are bad but not that bad... lol

joey660 · April 2009

Mary,
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.

marys236 · April 2009

Yes, I just emailed the Scholfield dealership through their website. I also emailed Don Carlton in Tulsa, they never even responded. Good luck, I hope you get a good deal. I love my car.

marys236 · April 2009

I'm in Oklahoma. My policy is through Hanover. I'm checking around, surely I can get a better deal. It just about doubled my premium, I can't believe that's right.

gpb59 · April 2009

What would be a good price to offer on this?, base model

filipatos · April 2009

Perhaps someone better can give me an idea of how i did yesterday. I leased a 2009 Acura TSX base model 10k miles 36 months. The MSRP was 29k and we got it down to 26k. we used the 750 ASAP coupon. I put $1500 (includes first payment) down and got a lease of $317.50 a month. is this a fair deal that i recieved?? any feedback would be highly appreciated.

Thank you

filipatos · April 2009

That it a great deal. we used the 750 ASAP coupon and 36 month, 10k miles and put 1500 down and got a lease of 317.50 including tax

joey660 · April 2009

That offer seems about right to me. Dealer offered me,for 10k & 36 months, $316/month with $1680 down.

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