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Description: 2009 Acura TSX w/Tech Pkg. w/auto transmission Up front fees total $1200.00You would have 35 payments (additional payments ) of $470.00 month The lease would be for 36 monthsThe lease would be based on 15,000 miles per year.
Lease payment of $399
$1638 down
15k miles per year
36 month term
This seems like a lot down.
MSRP: 33,200 (extra rubber mats etc)
Price: 29,500
Down: 1,500 (out the door)
Payments: 429 (including tax)
With the same discount, you are probably looking at $40/mo., more...
Which is why leasing Honda products with NAV is usually not that good of a deal (especially compared to the same non-NAV model).
regards,
kyfdx
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many thx.
Money Factor .00215
Residual Value 63% $18,849.60
MF .00215 (for customer's with FICO scores above 660).
residual 62% for 3years x12,000 miles
Sales price of $26,891 (a bit high, I know but I haven't got anything better yet),
MSRP $29,720.00,
the monthly - $350.37 (only first month/license/registration due at signing, around $700)
Is this a good deal?
Here is how I see if I am getting a good deal (I have to have these #'s before making a deal).
MSRP
MF .00215
Residual (used with MSRP to get Residual value = RV)
Lease Term
Mileage 10,000/yr ( for Acura, they'll probably add extra cost for higher allowance)
Price of the car (26,891 is a good price)
Gross Cap Cost (get breakdown of this number)
Cap Reduction (if any)
Net Cap Cost
Formula I use:
Net Cap + RV multiply total by MF (which will give you monthly rent charge)
Take that mo RC and multiply by lease term (total rent charge (interest)
Not done yet...
Net Cap - RV = Dep/use Charge
Use charge + Rent charge = total base payments, which then you divide by the term to equal monthly base payment.
Good Luck!
What area do you live?
Forgot to mention to add sales tax on the monthly base payment. Tax in my area is 7%.
It seems from what I've read in a couple of posts, some have paid the sales tax of the term of the lease up front. Would that allow the leasee to submit all of the tax on their 2009 return?
I don't think you missed out on the current deal AHFC yet. You just have to look/work hard to find what you want, and then you might not even get all that you want. AHFC deal is based on MSRP $29,920; MF .00215; Residual $18,849.60; $2499 due @ signing (which includes $1605 down $595 AHFC Fee 1st month $299 payment) All tax, title, doc fee are extra. The $299 payment comes from an adjusted Cap cost of $26,132.03, so if you add the down payment of $1605 you'll get the price of $27,737.03 (which is my own starting figure).
What are you looking for? (please send color, both ext/int)
How many miles? What state do you live in?
I think the price of $27,231 is a great price to start. You have to remember to ask them for a detail off all costs (price of car, doc fee, taxes, title) They like to add on things, like rubber floor mats...yuck
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Enjoy your new ride :shades: !
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Find out what the selling price is and let us know. Either myself or another knowledgeable community member will gladly give you their opinion of it.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Acura is currently providing $750 dealer cash on the 2009 TSX. The only loyalty cash that I am aware of is another $750 to current Honda Finance lessees whose leases are expiring.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Monthly Payment: $289
Amount due at signing: $2,532 (includes taxes on entire selling price of the car, not just leased amount because I live in IL)
I see it as I beat the nationally advertised lease special by $10/month and didn't have to put down the TTL.
Thoughts?
Also, you said you didn't have to put TTL, but then in another sentence said that you paid full tax. What is TTL?
No other dealership was coming this low, so I'm pretty happy with what I got.
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I think you got hung out to dry on your Accord deal, You put way too much money down on the car. $0 down would still keep in you in the $300's. lower to mid. Yikes!
Always start with $0 down when working a deal, sale price, lease terms, then throw in money down later. Its a lease, putting that much down, defeats the whole purpose. Not at the beginning. You will most always get hung out to dry.
I am totally lost on how you guys are calculating your figures and monthly payments here.
There must be something different about Acura deals?!?!
For example, here is one deal that has been mentioned:
--------------------------------------------------------------------------------- ---
The lease terms are 36mo/15k, 60% residual, .00215 MF, payment is $347.43/mo.
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
=================================
Now if the MSRP is $29,920, and the residual is 60%, then the residual is $17,952.
If the total cap is $27,185, the amount being financed is $9,233 (and this isn't even deducting the first month's payment paid upfront).
A Money factor of .00215 is 5.2% interest.
Financing $9,233 for 3 years at 5.2% interest, gives you a monthly payment of $268.10.
WHAT AM I MISSING???
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I just finalized a lease for a 09 TSX w/tech package, 36 mo/36k miles from Motorcars in Cleveland. Here are the numbers:
MSRP: 33,200 (extra rubber mats etc)
Price: 29,500
Down: 1,500 (out the door)
Payments: 429 (including tax)
=========================================
If you take a $19,920 residual (60%) from a price of $28,000 ($29,500 minus the down of $1,500), you get an amount of $8,080 you are financing.
At 5.2% financing, your payment should be $242.89 per month (not including the tax).
HELP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :sick:
Seriously though, my boss is a CPA, and I THOUGHT he explained this process to me, but it seems the numbers aren't adding up.
I'm sure many of you are already aware of this, but "leaseguide.com" has a pretty good breakdown of how the charges are calculated....
What I'm not getting STILL though, is that you TSX people are paying very close to the same rates that the IS people are paying, yet your prices are $3000 less.
If anyone can help me with that, I'll love you for life.
http://www.leaseguide.com/lease03.htm
Hope this helps.
Loan starts at CAP cost, ends at residual amount...
That's a simplification.. but, if you want to compare it to a loan, that's the closest you are going to get...
That's why there is a formula, and they use the money factor, rather than an interest rate..
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I just finalized a lease for a 09 TSX w/tech package, 36 mo/36k miles from Motorcars in Cleveland. Here are the numbers:
MSRP: 33,200 (extra rubber mats etc)
Price: 29,500
Down: 1,500 (out the door)
Payments: 429 (including tax)
=====================================
The net cap here is $28,000
The residual is $19,920
So the Depreciation fee is $224.44 ($28,000 - $19,920/36 months)
(Net Cap - Residual / term)
The Finance fee is $103.03 ($28,000 + $19,920 x .00215)
(Net Cap + Residual x Money Factor)
Adding these two together we get $327.47 for a monthly payment (without taxes), yet the quoted price was $429 (including taxes).
I seriously doubt the taxes made up the $100 dollar difference, so am I missing something???
So, try it again with a Net CAP of $29,500....
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Ok now I figured out my errors there, but now when I use the formula I learned for leases (Leaseguide.com), I'm still not getting the same figures!!
I wanted to go out looking at cars today, but I'm so boggled right now I can't even move. :sick: