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We originally went in to buy one with no nav, but after seeing how awesome the nav system was, we decided to splurge on it.
2007 TSX with Navigation
Black/Ebony
MSRP w destination = $30760
Invoice w destination = $28282
Sale price of car $28,600 ($318 over invoice)
12k miles/yr, residual 60%
Money Factor 0.00127
Term (months) 36
Amount due at signing: $1,186
Monthly payment before tax: $351
Location: West Chester, PA
Sales experience was quick and easy. We test drove the car, then afterwards I told the salesman that based on what I'd read online and such, $300 over invoice seemed like a fair price. He said no problem, shook hands, and we were signed and out of there within the hour.
Took the car on a roadtrip over the holiday weekend and it's great!
Thanks
I'm looking to probably split the first month's/acquisition fees between cash down and capitalized cost, and then pay the document, tag, title, license fees in cash as well.
The only part I don't know is how much they will give me for my trade-in, and how much of the difference to what I owe I will have to capitalize.
Right now I am playing with my Expert Lease Pro program and trying to figure out how I'm gonna set this lease up.
I think I would like to capitalize everything including first month's payment, acquisition fee, trade equity difference, and the tax on the sum of payments.
The only thing I want to pay upfront is the document, tag, title, and licensing costs. I'm transferring a tag so those costs should be minimal.
I'd rather have a slightly higher payment than have to put up more upfront, and I think I can probably change my offer down to $28,600 for a little edge in payment amount.
Harder than I expected, but it still worked out in my favor.
Don't have the car yet, but I've signed the buyers order and they're going to find me one this week.
Hopefully Royal Blue Pearl with Ebony interior. Navi included.
The terms were as follows:
Price: 28,800
MF: .00127
Residual: 60%
Terms: 36 months + 12000 miles/yr
Down Payment: $750
Monthly Payment: $439 total
The payment is a little higher than I wanted, but still less than what I was paying on my 2001 BMW 330Ci that I'm trading in.
They only were giving me $12000 for it, but I got them up to $12,500 for the trade, which allowed me to roll the $499 dealer fee into the capitalized cost and get the down payment down to $750 from the $1250 they originally wanted.
All in all I think I got a pretty good deal, considering the trade-in issues I had to deal with.
I'm excited, I should pick up the car Tuesday or Wednesday.
Alabaster Silver Metallic with quartz interior; AT; no Navigation; MSRP 28,760
(wheel locks and splash guards included)
Selling price: 26,400
Acquistion fee: 595
Cap cost: 26,995
Money factor: .00127
Term: 36mo. 12k mi/yr
Residual: 17543.60 (61%)
Monthly payment: 319.10 plus tax of 8.25% = 345.43
Paid at signing: 660.72, as follows
345.43 1st mo. pmt.
255.75 Calif. title and registration
55.00 Document prep fee
4.54 tax on doc prep fee (per State board of Equalization apparently)
Thanks so much to all of you previous posters - couldn't have done it without you!
Finally - the lease payment calculator spreadsheet at this url is, I think, an indispensable tool for accurately figuring your lease, and easily testing out different scenarios: http://www.carbuyingtips.com/download.htm
I hope Acura decides to continue the lease deals after 4/30 since I won't be ready to lease until after May 1st (my current car is getting inspected then, and if the dealer can't fix the issue I am eperiencing, I am seriously thinking of trading in), and I am afraid they will not have this deal again
What are the chances of Acura continuing the deal(s)?
You know, I think there's a chance they could get even better . . . if Acura decides to put up some dealer cash or lower the money factor. Probably not all that likely - but you never know! I decided to take the bird in the hand, since I was able to pull the trigger prior to the end of the month.
This is for a 36mo/10k mi per yr lease; bumping the mileage to 12k per year brings the payment to $319.10/mo plus tax.
Residuals and money factor used for these calculations are based on TSX April lease rates - numbers could possibly change in May.
Car_man
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Let's take a look at the selling price that you were quoted for this car. The dealer invoice price for a 2007 Acura TSX with an automatic transmission but without navigation is $26,451. So the price that you were quoted, $27,260, is around $800 over invoice isn't bad. You may be able to shave a couple hundred dollars off of it if you are in an area that has a decent level of competition, but this is a fair price.
Acura's lease program for the TSX is regional in May. If you tell me what state you are in I would be happy to give you an idea of what it is like in your area.
Car_man
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Car_man
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Car_man
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Car_man
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Black 2007 TSX auto w/Navi & a rear spoiler
Final Monthly payment (everything included) : $322/mo
36 months
12,000 miles
$2,500 down at signing
(if it means anything, i purchased in philadelphia, pa)
any input would be great, thanks!
Interestingly, the better money factor but lower residual work out to the same monthly payment as using the April numbers.
2) Is the first month's payment rolled into the lease or does it have to be paid upfront along with TT&L?
In any event, that monthly payment works out to a cap cost of approximately $27,695. Since the acquisition fee is $595 it means you're paying $27,100 for something. Which is definitely high in my market area - conditions in your area may be different.
can I have the May Residual and MF in CA for a standard TSX Auto/Non-Navi
for 36 months/12,000
and for 36 months/10,000
also what is the lease program for May in CA
Thanks!!
How do I go about getting the best deal on a lease. What are the negotiating points? Since Acura is offering 3.9% financing AND lease incentives doesn't that mean they have a glut of inventory?
What does the proposed $2K down include? Generally, putting the least amount down makes sense - advertised deals almost always include a hefty down payment so they can show a low monthly payment. Good advice from this forum says if your car is totaled you may not get back your upfront down payment - insurance settlement may merely pay what's owed on the lease.
(When I'm calculating lease payments on different cars - to make comparisons easy - I add the negotiated selling price and the bank acquisition fee together to arrive at the cap cost. This leaves the first month's payment plus tags and title and dealer document fees to be paid upfront.)
Reason being:
I've read a number of problems in my area with TSXs being broken into by someone or a group with a master key which totally defeats the built-in security.
If this is doable would it need to be through the dealer?
If i had it done by an outside shop after leasing, would I need to remove the alarm at the end of the lease?
And lastly, would the cost of this or any other additional accessories I got on the car be taken into account when calculating the residual or is it just a % of the straight MSRP?
Thanks for your feedback
Recently I looked into leasing a Mustangs, however they are terrible lease vehicles...($490/mo, are you kidding me? I'd be cruising with a G35 at that price). Anyway, so my 2nd choice is the TSX. Here is what I've been getting:
First thing to note, Acura has ended production on all 07 TSX (I believe new 08 is rolling out at an unannounced date and there is talk that it'll sport the RDX's 240hp engine). With that said, here are the deals I am getting in So Cal.
07 TSX w/o navi:
MSRP 28760
Lease price 26200
MF .00110
Residual 60%
Term 36 mo
Miles 12k
Approx mo payment $339 (after 8.25% tax)
0 down
07 TSX with navi
MSRP 30760
Lease price 28200
MF .00110
Residual 59%
Term 36 mo
Miles 12k
Approx mo payment $376 (after 8.25% tax)
0 down
Hope this helps!!!
I'm hoping to pick mine up this weekend (assuming they will not jacked me on my trade in)
Typically, anything you do to your vehicle requires you to remove at end of lease. Specially if the modification is visible and done by a third party. To stay on the safe side, I would speak with the dealer ship about getting one installed by them.
On another note, you are leasing this vehicle, so just get gap coverage if you live outside of NY. (in NY, it is included in the lease according to Honda Financial Services website). gap coverage is fairly inexpensive and covers theft and total loss due to damage. I just hope you didn't put any money down on your car.
In terms of the gap coverage, I'm not so much worried about the car being stolen, the thefts in the bay area have been items from the car generally not the car itself. Problem is that I have a laptop and other tools for my job with me almost all the time. Since the thieves in my area have had a key, even locking my gear in the trunk wouldnt help if they could bypass the stock alarm with the key (using it to roll down the windows) and then use it to unlock the trunk.
I'm picking up mine tomorrow night. I plan to roll-in about $1000 (last payment & disposition) of my current car (A4) into the new lease. (I'll probably pay off my last payment as part of the down payment.) Should bump my monthly like 20 bucks more. Next time, i'll watch closely for "disposition fees". Then again, leasing from honda is nice because they don't charge you that. The deal runs through end of June if you have a 710 or higher on your Fico.
Does Virginia qualify for the current lease deals on the TSX? Please provide the details on the lease structures under the current promotion (and if VA is applicable)
I am looking to lease an 07 TSX w/ Navi.
Thanks.
Trae
2007 Acura TSX with navigation black/black
15,000 miles for 36 months
$27,600 purchase price
57% residual value
.001100 MF
$413 a month with 7.5% tax
The salesman told me that the residual value and interest rate were fixed by AHFC. What do you guys think of this deal? Is it true that you cannot negotiate residual value and interest rate?
Thank you for your help
2) At first I thought something was wrong with the payment you were being quoted, based on the numbers you provided. Then I remembered you have to pay sales tax on the vehicle purchase price (even on a lease) in Illinois! If that's the case the numbers work out ok (6 or 7 dollars less than the 413 you mention - but there's probably something else being added into the cap cost to account for that difference).
3) So - deal seems good to me!
WHAT would my best option be on being money smart in getting the 10K 12K or 15K mileage lease. I am buying the car after the 3 year lease so i dont have to worry about the mileage; which one is cheaper(overall) and better for my situation???
Please help
THANKS
justin
2) The experts advise putting minimum $$ upfront on a lease. Two reasons: a) If your car is stolen or totaled the insurance company may end up paying off only what is owed on the lease - you may not ever recover your upfront money. b) The interest rate on many leases is very low - if, for example, you do a lease with an effective interest rate of 3% it makes more sense to put your upfront money in the bank at 5% rather than make a large down payment.
So, generally speaking, you'd negotiate the selling price of the car and then add Acura's $595 lease acquisition fee to arrive at your "cap cost". Your lease payments are based on this cap cost, and the residual and money factor (see below). Upfront you'd pay only tags, title, dealer document fees and your first month's payment.
3) Negotiate the selling price of your TSX, just as if you were buying it! (Check out this board and the Prices Paid forum to get a handle on competitive prices.) This is probably the single most important thing to know in leasing a car. So, yes, you can haggle down the selling price. However, your buyout price - which is called the "residual" - is set by Honda Finance (assuming you're leasing thru them) and cannot be negotiated.
4) There are some special TSX lease programs going on right now - but I believe they are regional and I can't see anything on Acura's website showing a special lease deal in SC. Car_man or dwynne may have more info on this. In any event, in addition to negotiating the selling price of your TSX you should get the from the dealer the "residual" (a percentage of the MSRP) and the "money factor" (a different way of saying "interest rate"). With these pieces of info I and others on this board can evaluate your deal and offer additional advice, if you wish.
5) Oh - unless I'm misinterpreting something in my Acura lease contract, GAP insurance is effectively provided for if you lease thru Honda Finance. (This just means Honda agrees to accept your insurance company's payoff if your car is stolen or totaled, even if that payoff is less than the balance owing on your lease.)
2007 Acura TSX without (navi) royal blue/black
12,000 miles for 36 months
$26,900 purchase price
60% residual value
$350 a month (tax included)
0 down
1,100+something at sign up (bank fees, tax, etc)
thoughts?
Thinking of going to NJ on may 31 to get a better deal... i'd appreciate suggestions, thoughts about this as well. thx
Based on reports from around the country I think you're right to assume you can get a better price elsewhere (if you can find your color combination). Dealer is definitely not losing money on this deal!
thx
selling price $25,700
acquisition fee $595
cap cost $26,295
residual $17,256
money factor .00110
monthly payment $298.99 plus tax
There are markets where you could negotiate the price to $25,700 or even a bit lower. (There's some factory-to-dealer cash this month.) Don't know if you can get it this low in your area, but $25,900-26,100 really ought to be doable from a motivated dealer (300-500 below invoice). But markets vary, and individual dealers within a market can vary significantly (there was a recent post listing a bunch of SoCal deals/quotes - big differences from dealer to dealer).
Some folks have reported success taking a one page lease deal proposal to the dealer. Once they see you know what you're taling about in terms of residual, cap cost, money factor, etc. (because it's accurately spelled out in your proposal) and that you're ready to do the deal at your specfied selling price - they may be a lot more likely to get down to serious business.
Car_man
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Car_man
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