Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see May lease deals!
Options
2013 and earlier-Acura RDX Lease Questions
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
What do you think of this lease offer on 9/15/07:
2008 RDX w/Tech Package
Polished Metal Metallic exterior (2007's color Carbon Grey Pearl apparently discontinued) and dark interior.
Cap cost of $34484 claimed to be $100 over invoice.
$549.17 down (1st month + $55 doc fee)
Money Factor of .00189
10,000 annual miles
Additions to cap costs of $891.78 ($595 bank fee through AHFC, $288 title (etc.), $8.78 tire)
57% residual
Monthly payment = $499.23 + tax = $540.42
36 months
OR - $3000 down for $399 + tax per month
OR - Buy it for $710 a month on a 60 month loan
I think that money factor translates to a 4.536% interest rate and I wonder why I can't get to 2.9% which I thought I saw advertised. My credit is good.
Thank a lot in advance. I really appreciate it.
I think that deal sucks. You must have spent too much time at the office and not enough time looking for the best deal.
LMAO!!!
Frenchy from South Bay
Gordon
Here are the numbers my local dealership gave me
Using Acura special on the RDX, The would be as follows:
24mths 12k/yr = $511/mth $4,496 due at signing. 63% residual (All of the Acura lease numbers are based on a cap. reduction of $2,005.)
36mths 12k/yr = $409/mth $4,591 due at signing. 59% residual
24mths 15k/yr = $525/mth $4,536 due at signing. 62% residual
36mths 15k/yr = $426/mth $4,659 due at signing. 57% residual
The price of the car in this lease is $33,260. Money factor is .00189.
The +/-4,600 perplexes me.
This is what my salesperson told me it entails.
The upfront charges include; 1st payment, acquisition fee, tax and dmv. (The $4,600 does include the down payment.) Acquisition fee is $595, it covers gap insurance, a $1,500 waiver to the car on turn in (3 different events of up to $500 each). Sales tax is the payment x 36 or 24 + down payment x 8%. and DMV is the rest.
The DMV can very for new or existing plates, and the tax depends on the term.
This seems like alot of $$$ down at signing.
Can anyone make sense of this for me? :mad:
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
As far as the demo vehicle goes, the problem that I have with demos is that dealers never seem to be willing to discount them enough for me to justify purchasing or leasing one over an otherwise identical brand new model. The exact discount that you should receive will depend upon the number of miles that the demo has, but I personally wouldn't bother with one for less than an additional $1,000 discount. If you aren't getting an absolute steal, why bother going with what is essentially a low mileage used vehicle over a brand new one that no one else has driven?
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Thanks,
--Carlos
10K miles per year (only drive about 7500 a year)
1000 down (only 250 cap cost reduction -- dealer would not go lower than that)
$409 a month
Did I get screwed?
Thanks a lot,
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
I am hoping to find out if I am getting a good offer on an '08 RDX with Tech package and roof rack/ski rack. I went into a dealership in northern NJ and they said that they could give us exactly what we wanted for $420 a month including taxes and fees with a trade-in that was appraised at $5500.
I know this may be vague since I don't have all of the exact numbers used (Sell Price, Residual, and Money Factor) but here are estimates of the numbers based on what I have read on this site.
MSRP (Act.): 37,948
Fees (Est.): 2,000
Cap Cost Reductions (Act.): (Trade-in) - 5,500
Additional Due at Signing (Act.): 0
Residual (Est.): 57%
Money Factor (Est.): .00189
Term (Act.): 36 Months
Mileage (Act.): 10,000
Sales Tax (Act.): 7%
I know without exact numbers I can't be given an accurate idea of whether or not I am getting a good deal. I was wondering if I am getting something inline with what everyone else is paying for the same vehicle or if it is greater or less than what everyone else is paying.
Thanks for any help that you guys can give. This site has been very helpful in finding out the residuals and money factors which has been a big help in estimating various lease payments.
Dave :confuse: Colorado
The best way to tell how good a deal you are getting on your MDX is to take a look at its selling price. If you find out what this number is for me, I would be happy to give you my opinion of this deal.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Thanks for your reply. I have actually heard what you are saying about telling the dealer to give me a check for the trade-in rather than use it as a down payment. In our case this would mean that our payments would be way more than we could afford. I think ultimately using the trade-in will allow us to afford the car that we absolutely love. So in this respect are you saying that its better to pay more per month with less down as long as you can afford it? I'm just trying to make sense of everything since my father was telling me the same thing but I didn't quite grasp it since he didn't phrase it the same way as you.
As for numbers, I have received a print out from another dealer with the figures. The details of the quote are below.
'08 RDX Tech with roof rack and ski rack:
Sell Price: 35,284
Trade-in: 6,000
Inception Fees (with Upfront Tax): 2,162
MSRP: 37,410
Residual: 55% - 20,575
Money Factor: .001550
Down Payment: 3,586
Down Payment Tax: 251
Vehicle Markup: 754
Adj. Cap Cost: 31,698
Term: 36
Miles: 10,000
Total Payment: 389.99 per month
Please let me know what you think. Thanks again!
2008 RDX Base (no nothing)
Sell Price: Unknown
Trade In: $6,000 (2003 TL-S needing bumper replacement and 82k miles)
Money Factor: .002750
Buy Back: $21,024
Down payment: $10k ($6 trade-in + $4 cash)
Term: 27 months
Monthly Payment: $269 (inclusive).
Is this a good deal or not ?
Should I do a cash purchase instead ?(which I could do tapping into home equity loan and savings)
Thanks for any advice.
2008 RDX Tech with Roof Rack and Ski Rack
Black on Black
MSRP: 37,410
Sell Price: 35,662
Lease Term: 36 months
Mileage: 10,000
Residual: 55% or 20,575
Money Factor: .00155 (Super Preferred)
Trade-in: 6,290
MV Fee: 282
Acq Fee: 595
Doc Fee: 199
Upfront Taxes @ 7%: 879
First Payment: 390
Total Monthly Payment Including Taxes: 390
Is a lower money factor like the .00155 gotten by spd1980 better or worse than the .002750 I was offered ?
I was trying to get an apr from the dealer but they said leasing arrangements don't use apr.
So I need some help to figure out Deal or No Deal.
Thanks
I am new to leasing also but from my research you want the lowest money factor possible. This is usually based on what the leasing company is offering at the time you are shopping and should be the same at all dealers. Car_man can probably confirm the .00155 number bu since it is the beginning of the month it should be the same for you if you credit is good and you qualify.
As an example, using my exact lease deals in a leasing calculator my monthly payment would go from 390 to 450 a month or an increase of 60 dollars a month.
Thanks,
Brian
$506 is hard price to beat but I work fo a leasing company and I can do this car for $519 a month for 36 month and 10,000 miles per year.
Just got an 2008 RDX Base w/1620 Out of Pocket:
33645 Gross Cap Cost w/Mats, Wheel Locks, Cargo Tray & Splash
999 Cap Reduction
146 Multiple Taxes & Fees
475 1st month
36mos @ 475 10K/Yr incl Tax (442 + 34) - 19668 Residual
Not quite as good as I've seen but better than most using a Broker
Honda Finance as Lessor. Did I get a good deal? Info available if desired.
Dave
Dealer is offering a similar deal. (08 RDX Tech)
Lease:
$1566.00 down
$507.85 (All Inclusive) a month for 36 Months/10 K miles
55% residue
Purchase:
$37443.00 (All inclusive)
$653.00 a month for 60 months (4.9%) with $3000.00 down
What do you guys think?
2008 Acura RDX w/o tech
MSRP $33,910
CAP COST $32,956
Res Value $19,328
MF .00155
Upfront: $1260 (first pymt, bank fee, doc fee)
36 mo's/12k miles
Final payment $455
After salesperson talked to Fin Mgr again, reduced to $429
Final two lease payments on my '05 Honda Accord ex v6 6 speed coupe totalling $560 would be paid by dealer and they would then return the car to Honda, said they didn't want the car....
Also considering the Mazda CX-7
2 months ago I leased for 36 mo, 12k, $525/mo with $1000 down (which took care of tax, tags, fees, 1st month payment) from Turnersville Acura in NJ. Excellent dealership and highly recommended.
Here is the dealership's quote which includes the dealership paying my final December lease payment of $480.93.
RDX-08 with Tech Package
MSRP $37,410.00
Gross Cap Cost $37,265.50
Down Payment $3,500
Residual Value 52% or $20,201.40
Term 36 months
Mileage 12K
Monthly Payment $515
Any and all opinions on this deal are welcome!
I'm in MA and working with Acura of Boston.
Personally, I think you're getting RIPPED :mad: ! I just got the base '08 from CA dealer (to Colorado) for $1635 incl $900 down plus dealer prep/trans and a payment of $476/mo incl tax. If you want more info PM me, I used a Leasing Company, so they made a 'fee' too - you should look for a new Deal-er :lemon: !
Archivist
It seems more clear to me that knowing the True Market Value price can really save some bucks! The TMV for the RDX-08 w/Tech in my area is $36,585 without options. If I'm looking to add the body side moulding for $353.20, then the gross cap cost should be closer to $36,938 and not $37,265.50.
HOWEVER, I'm still confused because I just ran the numbers on the lease calculator on this site and the calculator shows the monthly payment to be $604.58. If this number is correct, then a $515 monthly payment doesn't look that bad. Thoughts, anyone? :confuse: :confuse:
I'm certainly not Car_Man, but $ 515 is irrelevant if you give them $3500 up front! That's a bunch to "risk" if you total the vehicle driving out of the dealership! What's their Money Factor (mine was 0.00155) which works out to ~ 3.7% and is about the best I've seen. Your quoted Residual seems ok for 12k/yr (mine is ~19,800 at 10k/yr ~ 62%). Its the Cap Cost and Residual and Cap Reduction and Money Factor all combined that make the DEAL! Ya gotta look at them all.
I still think they are giving you a 'Hose Job'. You may have a problem getting a comparable number on the 30th since new Lease Factors and Numbers won't be published till next week, but I'd sure check with another dealer for a quick quote. Again I actually used a Broker and got a better response than trying to negotiate directly. I had to push a bit, but they really came through! Just a thought! :surprise:
Archivist
Paperwork says Gross Cap Cost is $37,265.50.
Doesn't that mean that the dealership makes a profit of $2573.50?
Plus Cap Cost Reduction is $2475.48 + 123.77 tax = Adjusted Cap Cost of $34,790.
Dealer claims that the $2475.48 is what the dealership is reducing the car for ... If so, then where does the $3500 down payment go towards?
MSPR 33,910 which includes dest. charges (I think I need to add CA sales tax to this.
Net Cap Costs 31,193
Due at signing 2,999
Mthly pmts 399
Opt to purchase cost 19,667
Term 36 mths
Mileage 10 K per year
Mileage cost .20
I want to try to up mileage to 15K per year. If I'm successful, would this be a reasonable lease?
Thanks for the help and guidance.
Can you verify the money factor and residual for 2008 RDX W/O TECH for 36 month lease with 10K/year?
I was quoted 0.00125 and 58%.
Thanks.
36 months/12k miles/mo
$440/mo including sls tx
Up front cash: 1st month payment of $440, Acquisition fee of $595, Registration fees
Sam
What dealer are you leasing from? I'm in Essex County, NJ.
email me and I'll send you the name of the dealer.
Sandy 25
seisnitz@aol.com