Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!

Acura TSX Lease Questions

1568101150

Comments

  • rujorujo Member Posts: 137
    Thanks for the reply. I'm in CT. I saw a reference to a possible factory to dealer incentive in an earlier post, but I didn't think it is definite for the lease special states.

    Unfortunately, on the Edmunds TSX incentives page the wording is a bit ambiguous. The $500 dealer cash is definitely not available on an AHFC special lease. However, the eligibility language is slightly different for the $300 dealer cash. Don't know whether this is a lack of precision on Edmunds' part - or, in fact, very precise language on Honda's part. It pretty much doesn't make any difference, since prices are going to be determined by the competitive situation in a given market - modified by the individual dealer's motivation.
  • bvdj84bvdj84 Member Posts: 1,724
    I was offered

    36mth 12k $325 no navi
    36mth 12k $349 w/ navi

    With 0 down!! Internet offer only!

    This is great!
  • rujorujo Member Posts: 137
    What state?
  • bvdj84bvdj84 Member Posts: 1,724
    Indiana, this is the lowest offer I got, and plus, get this. I have another dealer wanting to be that offer if I print off a copy of the quote. I would definitely want the navi! My only problem now is whether to wait on the new 08 accord, but hey I will not be able to a great deal like this, probably not even close for a long time. Plus the TSX has the same honda engine, and will have every option I could possibly want, so really I cannot go wrong, but I am in an 06 accord right now, and I love it. I just want a sunroof. Its summer, my other car had it. I really don't know what to do, I have not test drove it yet. I hope it drives like the accord.
  • rsd27rsd27 Member Posts: 4
    TSX without navi
    $299/ month for 36 mos
    10k miles per yr
    residual 17,500 something
    $2827 total cash out of pocket as foll:
    $299 for 1st month payment
    $595 bank fee
    $181.25 dmv,new plates,inspection and $45 doc fee
    $700 cash/cap cost reduction
    $1052.62 8.625% taxes on $299 X 36 mos + acquisition fee +dmv, doc fee and $700 cash down

    Is the acquisition fee supposed to be taxed?
    I'd like to know if this is really a good deal as soon as possible. Thanks.
  • nj2pa2ncnj2pa2nc Member Posts: 811
    only 10Kmiles per year-not very much.
  • ausdtechausdtech Member Posts: 37
    What area are you in? If you're in a state where the special lease deal is going on thats that good of good deal.

    Also, its highly recommended that you don't put a bunch of money down at signing as that money is generally lost if your car is totaled. Considering the money factor comes out to be a 2.64% interest rate you can make more substantially more interest than that if you put that additional drive-off money in a CD or other savings over the life of the lease.

    Your lease would ideally look more like this:

    Selling price of vehicle: $26,500 (possibly even lower if you live in California)

    $342/month for 36 months
    10k miles per year
    $567.87 due at signing (dmv/doc fees + 1st payment)

    Money factor should be .00110
  • bvdj84bvdj84 Member Posts: 1,724
    I am going to make a decision whether to get the new redone 08 accord in the fall, or get the 07 TSX now, which has amazing deals out. I am able to get a fully loaded with navi tsx for not much more than I pay now. The accord will not have good deals out for a long time, and plus they will need time to work out all the bugs and transition. Its really tough. Anyone have some advice? I really love my accord!! but the TSX is an accord with acura name plate. I keep going back and forth between the two. I am sticking with Acura/Honda. Advice?
  • ausdtechausdtech Member Posts: 37
    Have you driven the TSX? It has quite a different feel than the accord which likely will not change much with the new model, so a lot would depend on which driving experience you liked better.

    You're right that there won't likely be much in the way of deals on the new accord for a good while, also as you posted in the lease forum you shuld also take into consideration that not only are will substantial discounts off MSRP going to be hard to come by but factory subvented lease deals will be non-existent for a good while.
  • bvdj84bvdj84 Member Posts: 1,724
    No, I have not even test drove it, the closest dealer is 1 hour away, I've been busy. I think it'll be even more tough to get a honda for good deal than the camry did when it came out. Dealers are going to not move on the price, they'll use that excuse for a long time. Plus, I will not get deals like this on leases for at least another 5 yrs when they change the model again. Also I like the roomyness of my accord, and just overall love it, but would like to try the tsx, because it has every option I could want in a great deal,Navi,bluetooth, Aux, that I should not miss out on. Seems like the best bang for the buck!!!
    I have it narrowed down, either another accord, or TSX
  • rsd27rsd27 Member Posts: 4
    Re my post above #359 - Can you look it over? Do you think it is a good deal? It appears that I am being taxed on:
    the 1st month payment at $299, plus the $595 acquisition fee, plus $700 cap cost reduction(cash), plus the $181.25 dmv, doc fee and inspection fees plus of course the $10,465 ($299 X 35 mos)for taxes at .08625 in the total amount of $1052. Is this allowed? I thought I read that the acq fee is not taxable? What about the cap cost reduction and doc/dmv/inspection fee? Can they be taxed as well? Thanks for your help.
  • stevensma1stevensma1 Member Posts: 6
    Hey, could you give the dealership in Indiana you got this quote from? I am working with dealers in Indiana as well. Thanks
  • bvdj84bvdj84 Member Posts: 1,724
    Hey hey!
    Cool, of course I'll do that. I got the quote originally from another dealership, but I got Ed Martin to go low on the price because I showed them that I have gotten all my quotes by email, therefore I have documentation on them. I could get into a TSX with navi for $349 plus tax, for me, thats looking like $360 or so a month when set and done, thats really good. If you want the base its like $329, but hey, get the navi, its not much more. I have been having dealerships competing against each other, only because I have it all in emails. Ed Martin, I believe is down in INDY. I still need to test drive the car. I have it narrowed down to the TSX or the 07 accord with NAVI. Which are both at the same price a month, but the TSX is priced higher as far as MSRP. This quote came from a different dealer from Chicago, but Indy is closer, and Ed Martin said they would beat it.

    Please let me know if I can help you out any more, or you need documentation. Also let me know what deal you got, and car.
  • bobw92bobw92 Member Posts: 11
    The $299/month 36 month 10Kmiles/year Lease Special from AHFC seems like a great deal for a non-Navi TSX. I'm looking to lease a TSX with Navigation. Does AHFC have a similar deal for the TSX with Navi? If so, what would be the payments? I looked at Acura's website, and all I can find is the "Featured Special Lease" for the non-Navi.

    Robert
  • kidcloudkikerkidcloudkiker Member Posts: 2
    Im looking to lease a TSX without navigation in Ohio. Can someone provide me with residuals and money factor for a 24 month lease with 12k and 15k miles? Also a 36 month lease with 12k and 15 miles? Thanks in advance.
  • stevensma1stevensma1 Member Posts: 6
    36 Mo. 12k Miles:

    residual $17,256 60%
    money factor .00110

    36 Mo. 15k Miles:

    residual $16,681 58%
    money factor .001100

    Sorry, I don't have the 24mo. lease figures
  • ausdtechausdtech Member Posts: 37
    Robert, heres the full info on current TSX rates from roadfly. Just FYI you can do substantially better than the advertised deal in most areas (as long as they are in a region that qualifies for the tsx lease deals check your zip codes)

    ACURA Captive Lease Programs – Effective 4/9/07

    Programs shown in BOLD may not be as competitive as a comparable bank lease program. Click on a vehicle name to compare current bank lease programs through LeaseCompare.com.

    2007 Acura TSX Sedan
    24 Month – Residual 67% of MSRP – .00127 Base Rate
    36 Month – Residual 59% of MSRP – .00127 Base Rate
    48 Month – Residual 49% of MSRP – .00240 Base Rate
    60 Month – Residual 39% of MSRP – .00250 Base Rate

    2007 Acura TSX w/Navigation Sedan
    24 Month – Residual 65% of MSRP – .00127 Base Rate
    36 Month – Residual 58% of MSRP – .00127 Base Rate
    48 Month – Residual 48% of MSRP – .00240 Base Rate
    60 Month – Residual 38% of MSRP – .00250 Base Rate

    Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
  • stevensma1stevensma1 Member Posts: 6
    Hey, I ended up getting the black TSX with Navi. I got the dealer down to $125 under invoice. I'm doing a 36 mo. lease with 15k miles a year. I'm paying 0 down and the monthly payment came to $383 with tax already included. I also had him down to $364 with tax included for 12k miles a year and Navi.
  • newguy44newguy44 Member Posts: 3
    This forum has helped a lot!!
    I am extremely new to leasing and I am looking to lease this car for my wife. I have a few questions.
    I am happy with the 299 a month and I don't mind paying the 2100 at signing but from what I have gathered this does not include tax. So the monthly payment is really 324 in NY state?? Is this correct?

    I would like to stay around 300 a month but I need the 15k miles. Does this seem impossible because of the tax issue? Is there any way around that? Maybe paying it upfront?

    Thank you
  • dad23dad23 Member Posts: 866
    I picked up my new TSX this past Monday, love, love, love the car!!! I got the Carbon Gray with quartz interior, non-navi, automatic. Did the 36 month, 12K lease, only put first payment down, rolled in acq fee, upfront taxes, etc for a $375/month payment.
  • stevensma1stevensma1 Member Posts: 6
    Where did you buy the car? I got a 36 month, 15k lease with Navi with only first payment down for $386 a month and was quoted $354 for the same details with no navi.
  • dad23dad23 Member Posts: 866
    Mile High, where were your quotes from and did they include tax? I also live in a county where they require taxes up front, not in the payment, so those were rolled into the cap cost.
  • stevensma1stevensma1 Member Posts: 6
    I'm in Ohio. Price was with tax included and it was also rolled into the cap cost.
  • dad23dad23 Member Posts: 866
    Gotcha...we were actually looking at Accords first, but not seeming to be able to get any of the low prices others on these boards were for either vehicles. I love the car though :)
  • scraggsscraggs Member Posts: 6
    I was told by the finance guy at an Acura dealership today that the new money factor is .00270, which is more than 2x that of the old .00127. Was he jerking me around? My credit is 750+.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rsd27. You never mentioned the selling price or MSRP of the TSX that you are interested in leasing. These are important numbers 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 this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle 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 these numbers are.

    The rules for how sales tax is calculated on leased vehicles vary from state to state. If you tell me what state you are in, I may be able to give you an idea of how it should be calculated in your neck of the woods, or at least direct you to a site that would have the answer for you.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bobw92. Honda replaced the special regional lease money factor that it was running on the 2007 TSX in July with a special regional lease cash promotion. If you are in one of the states that this special program is available in, you can use $1,000 lease cash to negotiate an attractive capitalized cost for the TSX that you want. You will have to use Honda Finance's standard money factor to calculate your monthly payment. Let me know what state you are in and I will tell you if you are in an area that this special offer is available in.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey kidcloudkiker. Through July 31st, Honda Finance's buy rate lease money factor and residual value for a 24 month lease of a 2007 Acura TSX without navigation with 15,000 miles per year are .00385 and 63%, respectively. The numbers for an otherwise identical 36 month lease are .00290 and 56%. If you were to lease this car with only 12,000 miles per year, its 24 month residual value would be 1% higher and its 36 month residual would be 2% higher. Acura is providing a special regional $1,000 lease cash incentive that can be used to reduce the capitalized cost of leases of this car in certain states. If you tell me what state you are in, I can let you know if this cash is available in your area.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You are correct, newguy44. Acura's advertised lease payments do not include sales tax. So the real-world payment in states that charge sales tax on leased vehicles would be a little higher than the one that it is advertising. Having said this, I would not be surprised if you were able to negotiate a lower selling price on the car that you want than the one that was used to arrive at the advertised payment. If you are able to do so, you will be able to lower your monthly payment including tax closer to the advertised payment.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Unfortunately, scraggs, what you were told is correct. Acura replaced the special regional lease money factor that it was offering on the 2007 TSX in June with $1,000 lease cash. If you want to lease an '07 TSX through Honda Finance in July, its buy rate standard lease money factor for consumers who qualify for its top credit tier and pay a security deposit at lease signing is now .00290.

    Car_man
    Host
    Prices Paid Forum
  • bobw92bobw92 Member Posts: 11
    Car_man,

    I live in New Mexico
  • revs1revs1 Member Posts: 1
    hi car man--

    I'm looking to lease an '07 TSX w/o nav. Is the special $1,000 lease cash program available in Delaware???
  • kidcloudkikerkidcloudkiker Member Posts: 2
    I'm in Ohio looking to lease a 2007 TSX. Any info for the residual and money factor for the month of August on a 24 month, 12k and 15k mi lease? Also a 36 month, 12k and 15k mi lease? Thanks.
  • yesaccaseyyesaccasey Member Posts: 6
    I am looking at a 2008 TSX w/Navi. They said $2500 down and $365 a month total (tax included) for a 36 month lease and 12k miles. Is this good? I haven't even started to deal or anything but they threw that at me as I was walking out the door. All advice is welcome!
  • teddyohteddyoh Member Posts: 7
    What the heck!? I was quoted the same terms for a 2008 TSX with Nav. $2500 down, 36 months at 12k miles. They specific said they don't make deals on the new models other than the current incentives. My per month quote was $439.

    Either you are living in a state without taxes, or I am getting royally screwed. I know my residual was 62%, but the manager was out and the salesman didn't know the current money factor.

    Should I walk away from this deal?
  • confused13confused13 Member Posts: 17
    I am new to leasing. It's still about the price of the car, right? I'm confused by the language in the current Acura "offer". The ad starts with MSRP of 28,860, less cap reduction ("which may be paid by dealer contribution") results in net cap cost of 26,590. This doesn't seem like a great deal relative to invoice when there's $1000 in dealer incentives out there. Plus, what about the $1,595 that I'm supposed to pay as part of the "due at signing" amount?
  • pollofrito81pollofrito81 Member Posts: 9
    Does anyone know the august program. Junes was awesome and july;s sucked. Im looking at a used tsx but would love to get into something new
  • krusty46krusty46 Member Posts: 2
    I live in NY and it was my first lease. Got an '08 w/o nav for the $1595 down and $299/month. I had to pay tax. My total was $3722 at signing for everything.
    Hope this helps someone get a good deal.
  • delta737hdelta737h Member Posts: 626
    confused,

    Here's the ad...

    Offer valid through: 9/4/2007
    FEATURED SPECIAL LEASE: Closed-end lease for 2008 TSX 5-Speed Automatic Transmission (Model CL9688JW) for $309.00 per month for 36 months with a $1,595.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,499.00 total due at lease signing (includes first month's payment, security deposit, AHFC upfront acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

    Subject to limited availability. Through 9/4/2007, to approved lessees by American Honda Finance Corp. Closed end lease for 2008 TSX 5-Speed Automatic Transmission vehicles (Model CL9688JW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $28,860.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $26,590.23. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $11,124.00. Option to purchase at lease end $18,470.40. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 10,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 10,000 miles/year. See dealer for complete details.
    ____________________________________________________________________

    According to this Ad, there is $2499 due at lease signing which includes a $1595 cap reduction (i.e., down payment). The difference is $904. This difference includes 1st payment ($304), security ($325... $304 round up to the next whole $25). So, by default, one can logically conclude that the acquisition fee is $275 which is not very much by today's standards. Hmmmmm...

    One can also infer that the residual factor is 64% (i.e., 18,470.40/28,860.00 = 0.64). In other words, the Ad implies a residual buyout if you choose to exercise your purchase option at lease end.

    Now, when one couples the $309 with the net capitalized cost (an outdated term) of $26,590.23 and the $18,470.40 residual value using the money factor formula, one computes a money factor of 0.001852. This looks very funny to me because I've never seen a money factor with non-zero digits exceeding three.

    The money factor formula is used to compute the payment...

    Payment = MF x (AC + RV) + (AC - RV)/Term (months)

    where:

    MF = Money Factor
    AC = Adjusted Capitalized Cost (Net Capitalized Cost is the old FRBB's Reg. M terminology and is no longer applicable).
    RV = Residual Value

    And so, we have...

    309.00 = 0.001852 x (26,590.23 + 18,470.40) + (26,590.23 - 18,470.40)/36

    Again, the 0.001852 money factor looks very funky to me. I'm anxious to see exactly what the new money factor for August actually is because something just doesn't seem right. My best guess is that the new MF is 0.00185 and the actual payment is $308.91. Perhaps the Ad rounded this to the next whole dollar or $309.00 but even this seems very strange. Usually, they don't do that.

    The important thing to recognize is this...

    If you must pay the $1,595 cap reduction, the selling price of the car is the MSRP or $28,860.00. If the dealer pays the $1,595 cap reduction, then, effectively, you're only getting a $1,595 discount off of the MSRP... doesn't seem like a very good deal to me. As far as I know, invoice pricing is not available. See the following links...

    http://www.edmunds.com/new/2008/acura/tsx/100890849/options.html?action=1&x=68&y- - - =13

    AND

    http://www.kbb.com/KBB/NewCars/PricingReport.aspx?VehicleId=OC8xMi8yMDA3fDE5NjQz- - - OA%3d%3d&PCFVehicles=&ManufacturerId=2&VehicleClass=NewCar&ModelId=6&Path=Pricin- - - g&YearId=2008#survey

    There are no incentives on the '08's as far as I'm aware...

    http://www.edmunds.com/new/2008/acura/tsx/100890849/incentives.html?vdp=off&setz- - ip=44256&state=OH

    If you are serious about getting this car, I would INSIST that the dealer pay the cap reduction which amounts to discounting the MSRP by $1,595. In fact, I would seek a $2,300 discount which would bring your adjusted cap to $26,560 assuming you're not financing anything. Otherwise, without knowing invoice pricing, I would seriously question whether or not you're getting a good deal.

    ???... let me know.

    Hope this helps.

    John
    Medina, Ohio

    PS: Do a search on delta737h and examine my posts that include a sample lease proposal. It's always wise to create a one-page lease proposal as they save time, money, and aggravation. Good luck!
  • delta737hdelta737h Member Posts: 626
    Last year, I was very vocal about an AHFC Ad for a Honda Accord. The part that I complained about is replicated below.

    MSRP $21,375.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $18,052.58.

    This is very misleading and suggests that the selling price is $18,052.58. Net Capitalized Cost is an outdated Reg. M term that was replaced with Adjusted Capitalized Cost in 1999. A local Honda Dealer agreed and said he would be willing to sell the car for $18,052.58 BEFORE any cap reduction.

    Dealer contribution can be construed to mean dealer discount and NOT cap reduction. Interestingly, I notice that since I complained, AHFC changed the wording of this year's ACURA TSX Ad to...

    MSRP $28,860.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $26,590.23.

    Notice the difference! This year's Ad is very careful to define dealer contribution as being the capitalized cost reduction whereas last year's Ad didn't do that.

    One really needs to be careful when reading advertisements. ALWAYS hold the finance captives accountable and responsible for the claims and representations they make.

    John
    Medina, Ohio
  • cpa3cpa3 Member Posts: 89
    John,

    Enjoyed reading and going through your calculations. Not sure what your question was but here is what I came up with. The $2499 includes $309 + $595 + $1595. The $595 is Hondas Lease Fee (not negotiable). They charge this on all leases. There is no security deposit in their current offering.As you had said the $309 is the first payment and the $1595 is the cap reduction.

    I also agree with your rate of .00185 which equates to 4.4%, not as good as the 2.9% rate for purchase however. Using the .00185 I came up with a monthly pmt of $308.91.

    I am really interested in the TL. But it looks like to me that rate is .003 or 7.2%, not quite as good as the TSX. IMO the current lease rates are not that great. They have been better during the last year.
  • delta737hdelta737h Member Posts: 626
    cpa3,

    I didn't have a question. I was simply writing some commentary ( posts #393&#394) in response to confused13's #390 post. If you read my post #393, you'll discover that I cut and pasted AHFC's current lease offer for the Acura TSX. It states, in part,...

    Offer valid through: 9/4/2007
    FEATURED SPECIAL LEASE: Closed-end lease for 2008 TSX 5-Speed Automatic Transmission (Model CL9688JW) for $309.00 per month for 36 months with a $1,595.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,499.00 total due at lease signing (includes first month's payment, security deposit, AHFC upfront acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

    ___________________________________________________________________

    Note that the $2499 does include a security deposit. AHFC rounds security deposits to the next whole $25. And so, one can reasonably conclude that the acq. fee amounts to $270...

    2499 = 309 + 325 + 1595 + 270

    I had erroneously stated $275 in a previous post. I had also commented that this seems quite low. And so, the $270 acq. fee seems very peculiar to me. No matter, consumers should hold AHFC accountable for a $270 acq. fee because it is crystal clear that's what the Ad implies.

    I'm fed up with the on-going mistakes that this industry makes. There are many dealerships and lease software vendors that make mistakes when calculating leases; especially, sign and drive leases where the first payment is being capitalized. Payments and sales tax are often calculated incorrectly particularly in those states (e.g., Ohio) that compute sales tax on the total payments. One software developer agreed and said that they would amend their software. That was last December. To date, they have yet to amend their software. Hmmmm.

    Inappropriate or skewed computations only serve to justify the rationale for incorporating standard computational methods in the Federal Reserve Bank Board’s Regulation M paralleling those of its Regulation Z cousin. I know that an APR is meaningless except for purposes of amortizing leases that use the constant yield or actuarial method but money factors or lease interest rates should be disclosed. Although few fund providers use it anymore, the antiquated Rule of 78's should be discarded. Some fund providers use interest rates like GMAC to compute payments. I believe that Ford Motor Credit used interest rates to construct, what they called, Acquisition and Lease End Value factors. GMAC called them Capfactors and Resfactors...

    Payment = CapCost x CapFactor - Residual x ResFactor

    In the last revision to Reg. M (1998?), the FRBB sided with the NADA, NVLA, etc., lobbyists in making the ridiculous claim that such disclosures as money factors would only "confuse" consumers. That's crap and is both presumptuous and insulting. I'm not confused and many others aren't confused either. That's just a poor excuse for non-disclosure in an effort to keep people ignorant. What's so shameful is that I know more about leasing mathematics than most in this industry. I teach mathematics part-time at a local university and used to be a practicing actuary. And so, I'm very familiar with financial mathematics.

    I'm still anxious to learn the TSX money factor for August. I assume that the money factor used to compute the Ad's $309 payment is the buy rate (i.e., without reserves).

    John
  • kyfdxkyfdx Moderator Posts: 235,175
    I'm pretty sure in this case that the lease does not require a security deposit, even though that wording is included in the fine print. Note that the amount of the security deposit isn't given. I think that amount is $ZERO. It's possible they calculated the lease with the security deposit waiver bump added to the money factor (extra .00010).

    The acquisition fee is always $595.

    $309 + $1595 + $595 = $2499

    regards,
    kyfdx

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • delta737hdelta737h Member Posts: 626
    kyfdx,

    I appreciate your comments. However, we as consumers aren't mind readers and so, AHFC needs to be held accountable and responsible for their Ads. If I were leasing a TSX, I would hold them to a $270 acquisition fee. I'm absolutely convinced that I was the reason why they changed the wording on their Ads from one year ago. See my post #394.

    When you're in business and you make a mistake, you eat the mistake. I'm sick of people in this business making tons and tons of mistakes. I see them an awful lot especially on sign and drive leases.

    John
  • kyfdxkyfdx Moderator Posts: 235,175
    I don't see it that way.. The ad does not say that the security deposit is $325. It also doesn't say that the acquisition fee is $270.

    You can either read their mind, or you can't. ;)

    regards,
    kyfdx

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • delta737hdelta737h Member Posts: 626
    kyfdz,

    No mind reading necesssary. Look at my posts #393 and #394. One can conclude that the acquisition fee is $270. The Ad CLEARLY STATES...

    Offer valid through: 9/4/2007
    FEATURED SPECIAL LEASE: Closed-end lease for 2008 TSX 5-Speed Automatic Transmission (Model CL9688JW) for $309.00 per month for 36 months with a $1,595.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,499.00 total due at lease signing (includes first month's payment, security deposit, AHFC upfront acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

    Look at the BOLDED words above. They suggest the following...

    2499 = 309 + 325 + 270 + 1595.

    I agree that the Ad does NOT specifically state that the security and acquisition are $325 and $270, respectively. However, it is IMPLIED. This seems clear to me and it should be clear to anyone reading this Ad. As far as I know, AHFC routinely rounds payments w/tax to the NEXT whole $25 to determine the security deposit. Here, as the Ad suggests, we're excluding taxes. In fact, unless waived, this Ad suggests that Floridians would pay a security deposit of $325 because there is no state sales tax in Florida.

    I agree that security deposits are often waived in exchange for a MF bump; this Ad, however, in no way suggests that this is the case. This Ad is based on an MF of about 0.00185. I'm anxious to see the published money factor.

    Are you associated with AHFC or a Honda/Acura dealership in some way?

    John
  • kyfdxkyfdx Moderator Posts: 235,175
    You want to hold Acura to an ad, as though it's a financial contract, and yet, you assume many, many things not printed in the ad. It just doesn't work that way.

    I don't have the whole ad in front of me, but I'm sure there is a phrase something like, "Requires dealer contribution, which may vary". In other words, this is just a possible example. It's an advertisement, not a contract. I would assume they have lawyers to look those things over.

    On another note, just because someone disagrees with you, does not mean they have a stake in the argument. Why would you think I work for Honda or Acura?

    I would have thought you would have noticed the "HOST" next to my name. No fine print necessary.. lol. ;)

    regards,
    kyfdx

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • delta737hdelta737h Member Posts: 626
    Walt,

    Wow, you sure have been around the block quite a bit, haven't you? I NEVER thought you worked for Honda or Acura. I was merely ASKING. PLEASE READ MY POSTS CAREFULLY.

    I'm well aware that this is NOT a contract. I'm also well aware that court awards have been made on representations made in advertisements. Furthermore, I'VE ASSUMED NOTHING. I have a PhD in mathematics and statistics and am very skilled in logical argument. The Ad CLEARLY states that it INCLUDES a security deposit. One can rationally draw valid conclusions based on the rhetoric contained in this clause and this clause alone. The other parts of the Ad are IRRELEVANT. If you get a chance, look at the entire Ad.

    I've served as a certified expert witness in cases involving both Reg. M and Z and so, yes, I would hold AHFC (not necessarily Acura) accountable. And, why did their lawyers approve changes in some of the wording from one year ago (see posts #393/#394)? I can tell you that I had something to do with it.

    John
  • apz4apz4 Member Posts: 7
    1) I leased an Acura TSX today.
    2) kyfdx was totally correct, Acura is willing to waive the security deposit. Bank fee is 595. :)
    3) That said, they will honor the advertised deal - but you can do better with some simple negotiating
    4) delta/john i'm not sure why you are being so rude to one of our gracious hosts, who is only trying to help. By asking if he worked for Honda you implied that he was not to be trusted. You can make your little semantic argument if you want, but we all know what you meant.
    5) your understanding of what qualifies as misrepresentation in an advertisement (which is not an offer) is misleading others on these boards. Just because an ad says something does not make it written in stone, nor does the fact that it is mistaken in some way make it a misrepresentation automatically.
    6) I am, in fact, a lawyer.

    just ease up a little, were all trying to help each other here, not make kyfdx and carman wonder why they do this for free... ;)
  • apz4apz4 Member Posts: 7
    Now, to help everyone else, I got a 2008 TSX (non-Nav) today in NJ.

    Here was my negotiated deal:

    MSRP: 28800
    Invoice: 26585
    Price: 27040 (~450 over invoice)
    Residual: 63% for 12K miles (64% for 10K, 61% for 15K)
    MF: .00185
    Bank fee: 595
    Document fee: 189
    NJ registration: 245

    Total down: first month + NJ fees + doc fee = about 800
    I rolled the bank fee... security was waived.
    Monthly payment was 373.

    I should note that this was with Tier 1 (super preferred, whatever they want to call it :) ) credit.

    Hope that helps some people.
    kyfdx and carman, keep up the good work! :shades:
Sign In or Register to comment.