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This was Acura of Valley Stream in Valley Stream Long Island, New York.
They are very nice, and their priced as extremely competitive when compared to the other dealerships in my area.
I'm just starting my search and your deal sounds pretty good to me. I'm in Northern NJ, just outside NYC and it might be worth the trip out to Long Island. I see three different addresses though on Merrick Rd; are they all one and the same?
Note though, that you should probably call ahead since most dealerships in the area are running low on 2008 model TSX's w/o Navigation and some even w/ Navi since they are prepping for the 2009 models next month or so. Because of that, the later you push the lower the invintory, and the deamand goes up so the price will be tougher to negotiate. I found out the hard way, in February the deal on this car was better than now...I could have had it for $330 a month with Tax or $312 or so w/o, but that was out the window as of March 4.
Good luck in your search.....the car drives like a dream!
I ran this lease without a down payment because it is not a good idea to make one when leasing. Consumers who do risk losing part or all of any money that they put down if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be higher, you would be better off going with a zero down lease. If you're still set on making a $2,000 capitalized cost reduction, it would reduce the monthly payment on the aforementioned lease to around $318.
As you can see, the deal that you were quoted looks pretty good to me.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I just leased a 08 TSX, you can read my post earlier. I have a 12,000 lease for 36 months, my taxes are included in my monthly payent and the only thing that I paid out of pocket was my first month payment and Aquisition/Bank fee ($1057)....thats it, nothing down, no upfront taxes.
My monthly lease is $345 per month....I think its a pretty solid deal since other dealerships were giving me a much higher price. Only thing is and I don't know if it makes any difference, my TSX is a 5 spd Auto not a 6 spd Manual.
Dealer is Valley Stream Acura.
Following is what I was offered, don't find it to be too competitive though and appreciate any and all feedback.
$26,630 + dest + tax + fees for all options
BASE TSX, non-Nav, 6speed Manual
Base TSX, $2K down, 15K miles: $367 mo.
Base TSX, $2.5K down, 15K miles: $356 mo.
Base TSX, $ 0 down, 15K miles: $383 mo.
tax included in above, but not fees--to keep at monthly payments above, they want $3K down.
Feedback please?
36month
15k per year
$2000 down
$315.00 per month or $2500 down $299.00 per month
2008 TSX 6speed Manual Navigation
36months
15k per year
$2000 down
$347.00 per month or $2500 down $332.00 per month
These prices include all inception fees including 1st month payment, bank fee, dmv title fees, documentary fee and excludes state tax."
what do i need to ask/be aware of? This is the best offer by far; well, maybe not since it does not includes state tax.
The current Acura deal is structured as follows (as far as I can tell):
Base $28,190.00
Destination Charge $715.00
Total MRSP $28,905.00
Residual (36 months / 30,000miles) $16,764.90
Capitalized Cost $28,905.00
Capitalized Cost Reduction $1,105.00
Dealer Contribution (to reduce capitalized cost) $1,374.98
Net Capitalized Cost $26,425.02
Depreciation $9,660.12
Security Deposit $0.00
Upfront Acquisition Fee $595.00
Money Factor 0.00071 (1.70%)
Lease Payment $268.34
Lease Interest $30.66
Total Monthly Lease $299.00
Due at signing $1,999.00 ($299 + $595 + $1,105)
Remaining Payments $10,465.05
Total Payable $12,464.05
I need a plan with perhaps 13,000 per year so would I do better to recalc a residual based on 15000 per year or just to prepay 9000 miles at $0.075 (?) per mile ($675).
I have a couple of dealers that state they will sell the car at invoice, however so far they have refused to email me the lease worksheet I have been requesting so that I can do a lease versus buy comparison.
My question is this, if they are willing to sell the car to me at invoice ($26,630.23) if I buy it, then if I decide to lease it, should I not be able to also get the dealer contribution that is within the current Acura special leasing deal?
I want zero down but I do not mind rolling fees into the first payment (exc tax that should be spread). So, given that our sales tax is 7.5%, dealer is quoting $150 doc fee, and we have %65 title plus $15 license transfer fee then is the following reasonable for a restructured lease deal target?
Base $28,190.00
Destination Charge $715.00
Total MRSP $28,905.00
Residual (36 months / 30,000miles) $16,764.00
Sales Price $26,630.23
Tax 7.5% $1,997.27
Capitalized Cost $28,627.50
Capitalized Cost Reduction $0
Dealer Contribution? $1,374.98
Pre-paid Miles -$675.00
Net Capitalized Cost $27,927.52
Depreciation $11,163.52
Money Factor 0.00071 (1.70%)
Lease Payment $310.10
Lease Interest $32.23
Total Monthly Lease $342.33
Security Deposit $0.00
Upfront Acquisition Fee $595.00
Title $65.00
License Transfer $15.00
Doc Fee $150.00
Due at signing $1,167.33
Remaining Payments $11,981.40
Total Payable $13,148.72
Is this a reasonable target to go for or is my calculation totally off here?
Carman's help greatly appreciated.
Be careful with putting money down on a car that you are leasing.
There is no benefit to reducing the cap cost this way (except a lower monthly fee) since you are not keeping the car. Many dealers play games this way, they give you great numbers but don't tell you the whole story.
When you put money down for a lease, you never recover it at the end of the term and since you will be giving the car back then you have wasted this amount. Also, and this is a sad but true fact...If you have an accident where the car is totaled, or the car is stolen and unrecovered, your insurance company will pay Acura the remaining outstanding balance...HOWEVER, you will not recover ANYTHING that you have put down before the lease was signed including A.) Money down B.) Taxes paid upfront or C.) Aquisition/Documentation Fee's.
Now dealers can include Tax and Bank fee into your monthly rate, but it gets steep, however you are then seeing the true numbers. If something is to happen to your car and you did not pay all that money upfront, then your liability ends with the amount that you have paid up to that time (ie. car gets totaled after 3 months of ownership...total Taxes paid upto that point ~$150, the $150 is all you loose {since you paid nothing further down}, your insurance will cover all taxes and costs remaining.) Now if you had paid the tax upfront (~1000 +/- and lets say $1,000 for Cap Cost reduction, you would loose $2,000 in case of a loss of the vehicle.
I made a consciouse choice to pay ONLY 1st months payment (Mandatory to drive out for Acura) and the Bank fee (Only a couple of hundred dollars). No money down, and Taxes included in my monthly payment. I have already discussed the price I pay per month in detail so feel free to look at my earlier posts.
The trick is to lower the cost of the car to within $500 or less from the Invoice price. Or even better, AT invoice price if your dealer really needs to move his stock. Also, please make sure you are leasing ONLY through Honda and not through a third party like "HAN" since they carry a disposition fee at lease end, and are very tough on returning vehicles.
Best of luck.
08 TSX w/nav---12k year
Down Payment: $3,000 (Trade-in)
Month: $320
Total Payments: $14,200 (term of lease)
(Includes all taxes and fees)
Any input would be helpful as I am in college and this is my first lease....
I am glad if I helped, and that you decided on a course of action. The car does not dissapoint, I am going on 1 month here and loving it.
As far as putting $2k down, thats your choice, I personally would say, put that into a high yield savings account (ie. ING Direct, CapitalOne, HSBC, etc...~3 to 4% APY), that way it combats inflation, and us it to cover several months of payment without the money loosing any value, but maybe that is the investment banker in me screaming out (that is what I did)....otherwise, enjoy the car and best of luck!!
$335/month
$1435 down (total cost)
10k mileage
lease factor .00071
cap cost $28633
add to capcst $953
cap reduction $1100
adj cap cost $28868
any deal killers here?
lease institution listed as AHL. What is that?
Are you 100% sure that you would never need to drive more than 10K miles per year even if you had to move or change jobs in a coupe years?
You are better off taking out the $1100 cap reduction and putting it in the bank to subsidize the higher payments so it doesn't get wasted if the vehicle gets stolen/totaled shortly after you start the lease.
If the payment is $30 higher without that $1100, then withdraw $30 a month from this account to go towards the lease payment.
I am getting off a 4 year lease in whic I drove 7000 miles per year.
This is my second lease from AHFC and worked the internet managers from three dealerships to the grindstone. Work via the internet managers, so you don't get pinned in glass box with a used car salesman telling you that you're getting a great deal. Bottom line: They all want your business! It's all about timing and when sales are down and quotas to be met, they up the ante across the board. I was pre-qualified as a Tier-2, but since I was within 5pts of Tier-1, they bumped me up to the Tier-1 program. If your on the border, ask for the "bump" and your monthly and money-factor rates drop.
All-in-all, I signed the deal for a 2008 TSX Auto-Navi with $700 down, 36mos, 12k/yr, $365/mo including tax with a Net Cap cost of $28.3k ($700 below invoice).
Total time from walking in to get the keys: 90 mins. :shades:
I just leased a car in NY. Is it normal (or legal) for the taxes (the payment taxes, not the cap cost reduction tax) for the car to be included in the actual Gross Capitalized Cost area? Reason I ask is that what the dealer told me why there is a difference between the value of the vehicle and the gross. Also under the tax areas its all "N/A". Then there is a section "Estimated Fees and Taxes During Lease Term" which has an amount which I want to make sure I will not be billed for in the end. Can I call AHFC for them to explain this? I want to make sure I was not lyed to.
Yaya, I know shouldn't have signed and all that, but I was in a situation where I was dumb. I am running the numbers now in excel and trying to figure all this out. Thanks guys
Paid a total of $599.00 Down which includes first payment tags and some other tax.
Monthly payments came out to $388.00 per month. I think it was high, but my credit score is a 674 and was told they had to pull strings to get me tier1.
They were offering 10,000 miles in free gas @ $3.00 a gallon in the paper. When I asked they said, "sorry, we can not give that deal to you since you paid sticker on the car." Really though that was BS. Car salesman said in his own words, "they always find a way to get you." I could have said gas card or no deal, but at that point I just wanted to get out of there.
I was planning on calling a good friend's friend's dealership later this week and checking their inventory, but I thought I'd see if anyone knew the MF and residual on the car for this month before hand.
Anyone think I have a chance at getting it at 350/month 0 down after taxes?
I'm slightly nervous cause the cars not even on the acura website anymore...
Thanks!
Keep in mind, the residual value is non-negotiable price set by AHFC. It's typically 56% of the MSRP. As you mentioned, your goal is to get in with nothing down. Honestly, unless the dealer is willing to give it away, you won't find a $0 down anywhere unless it's Ford or GM product. However, with $500-700 bux down, you can get your monthly around $335/mo with tax. And if you want the new model, that's $2600 down and a few greenbacks shy of $400/mo with Navi. Recenctly, I recieved another quote from a competing dealership from when I was shopping around, and they still can't beat, so I firmly believe I got a good deal.
Bottom line:
They want your business so be firm with your counter-offer and stick to it.
They'll make it work!
Good luck!
Your right the stock is getting low in the North East. I Leased my 08 non nav in early March and even then in most of NY and parts of NJ there weren't all that many cars available, especially if you are looking for a particular color.
Only 4 dealerships had Carbon Grey Pearl (my color) in Non-Nav and automatic in the NY area with virtually no stock comming in.
I am leasing for $345 per month, $0 down, only upfront payment was the Bank Fee and the first months payment. My taxes are included in the payment. My firend has the same car, same situation but for $335 per month only he got it in February. With this trend, expect to pay ~$345 to $370 per month (not more).
Good luck.
I'll start talking to dealers next week. I am actually in the SoCal region.
I will update on how this goes! I am now pretty confident that I'll be able to get this for 350/month.
I was considering between this car and the new accord coupe (I4), but the TSX seems like so much more for a similar price...
Thank you again!
thanks in advance
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
so was the MF on a 2008 TSX w/o Navi really 0.00071 in April, and it went up to 0.00235 for May? So the MF tripled from just last month?
If so, I have a feeling I'm not going to be able to get a TSX for anything close to 350/month... closer to maybe 400/month....and maybe even more than that...
Why would they do this? I'm confused, that would make the cost of leasing a 2008 almost identical to the cost of a 2009.... what would be the point of doing this? The dealer I just started talking to said they have another shipment of 2008s coming in this week, wouldn't it be in their interest to get rid of them, not only last month, but this month as well?
I would need the dealer to get me the car at something around 23k+TTL in order to get something around 350, using 56% resid and 0.00235 MF, no?... sounds like I have a long couple of weeks ahead of me...
Thanks for the response. It sounds like all the low MF's are gone now on this vehicle and unless the residuals have gotten better, which I doubt they have the good deals may be gone, though the lease cash does help. Can you tell me what the 15K, 36months residuals are for Nav and non Nav?
Thanks,
cndnbkn
I may choose to go the leasing route.
Does anyone know what the residual rate would be for 36 and 42 months?
Any current info on money factor rates? I should be able to get the best rate.
Does Acura have a loyalty program? I would be trading in an MDX.
Thanks
Basically, what does the loyalty program entail?
Thanks.
As for upfront costs, it's really up to you. If you choose to roll it into your new lease, they will do that and make your drive-off cost $0 (it makes your payments more tho). If you choose to pay the 1st month, tags, bank fee and so on, you could easily pay around $1000-$1300.
48months
10k/month
360/month (everything included)
ZERO DRIVE OFF (not even first months payment)
hooray!!! cant wait to pick it up in a few days!!!
good/bad?
they showed me the screen and it said "profit= -1348" at the bottom haha... were they just trying to make me feel like i got a good deal?