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2013 and earlier-Acura RDX Lease Questions
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This will be my 1st Acura. I had the Nissan Murano, Infiniti FX, and this car is just as impressive. I love the voice acivated GPS feature. It also handles like a dream. I took it as hard as I could, didn't screech once. I can't wait to pick it up in a week.
What i have read on the forum is that many of the folks are getting quoted 53%
Is the higher or lower residual better when leasing...??? stupid question but I thought the higher the better?
thx
So I need you help, oh smart lease people. Let me give you his numbers:
MSRP $37,410
Sale Price of RDX $34000 ($429 under invoice)
No cap cost reduction
Term 36 mo/10k miles year
MF .0009
Residual 53% = $19827.30
Acq Fee $595
Thier Doc fee $389
Registering in NoVA (4.17% tax, I am pretty sure)
Monthly of $504.62
On this lease worksheet he printed out for me, he's got a few confusing things listed (on line 25 for anyone who knows the lease worksheet printout):
Govt fees = $109 (title and 2 year plates, I guess)
Taxes $2590 (he kept saying that he was estimating 1500 for personal prop tax). I thought I paid sales tax with each payment and the personal property tax is something I pay to Alexandria, VA outside of my lease (though Honda Finance initailly pays Alexandria and then I pay Honda).
SO HERE'S THE THING -- My math (using leaseguide.com's worksheet) has me at $493 a month assuming $595 acq, $385 doc fee, $99 plates, $10 title and a 4.17% tax rate. Can anyone tell me what I am missing or what he's added in?
By the way, I know the finance person always say stuff like this, but he said I got a fab deal. The one thing he let slip is that the dealership is making less than $25 on this deal. I got the feeling that there is an incentive of just over $450 for the RDX...
MANY THANKS FOR ALL YOUR HELP!!! I am a nervous nelly about these things, and I just want to be sure I am getting the best deal possible.
In the Commonwealth of VA, one must pay 3% of the gross cost of the vehicle for the VA Motor Vehicle Sales and Use Tax, and -- for the purposes of the the VA MVSUT -- gross cost includes the dealer doc fee. So that's $34000 car + $385 doc fee x 3% = $1031.55.
More from VA on the MVSUT for leased cars here. And calculate your own MVSUT, registration and title fees here.
And to think that I was calculating the sales tax based on only the part of the car I was leasing. Oh, Virginia. So annoying with all the darn taxes.
So apparently the 4.17% VA tax (wherever the heck I got that?!?!) does not even factor in because the VA MVSUT is the only sales tax that is paid, as far as I can tell.
Now I just have to figure out why the dealership is using $1090 as opposed to $1031.55...
As soon as I sign the papers, I will post a full report on my deal. This is all taking place at Radley Acura in Falls Church. They have been nothing but fabulous so far. Now if Honda will just take my 05 Pilot back a few weeks early without too much hassle...
With the new lease special available for the RDX w/ tech would a monthly payment of $450 w/ 0 due at signing be too optimistic? I definitely need 15K miles per year and it looks like there may be some dealer cash available considering the deal infinitimn received.
Thanks.
The same dealer offered $528 including taxes w/ all weather mats and roof rack installed.
What was your final payment including tax? The new MF is .00072 thru 4/31 and two dealers so far have agreed to make the cap reduction which is why I am thinking they are receiving some dealer cash from Honda/Acura. My ideal payment would be no more than $500/month. Is anyone having any luck in their negotiations?
What the acquisition fee for acura's leasing company?
Pennies add up to dollars, young man!!
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....and dollars add up to $thousands.
I went to an Acura dealer today and he offered me $565/mn with nothing down other than acquisition and first month's lease for the tech RDX and 17k miles per yr. He was basing those numbers off of a sales price that was "only" a couple of hundred dollars over invoice.
2008 ACURA RDX – I N V O I C E
Factory Lease Special runs through March 31st
If Leasing a RDX with the Technology package then the selling price is $1,500 BELOW Invoice
Factory Finance Special runs through March 31st
im looking for a 17k mile/yr lease with the tech package. best offer ive seen so far is for $509/mn, with 1300 down.
Good luck
So I am proud to say that Edmunds forums and all you wise posters gave me the knowledge to "pick apart" my lease. It kept me from spending one cent more than necessary to get the best car ever.
Don't hate the player, British Rover.
GS
Thanks!
So I assume they would add $900 (3000 miles/year x 3 years x .10/mile) to the MSRP, and the residual will stay at 50%, with the residual amount being recalculated based on the new MSRP.
Residual = (50% X MSRP) - $900
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Thanks
- Acura: $1500 off for a lease, and they will go off of INVOICE (don't go a penny more)
- Infiniti: Super-aggressive money factor on 24-month leases (.00025 vs. .00074 for the RDX); better residuals than Acura (63% for EX vs. 58% for RDX)
Factor all this in and assuming the following:
- RDX Tech MSRP is $37,410 and cap cost is $33,229 (I have to add $300 for marketing in AZ)
- EX35 Journey RWD (with Nav, Premium, Luxe Style, Roof Rails, Cargo Protector) MSRP is $41,485 and cap cost is $37,868
- 18K miles/year, reducing residual amounts by $600 (3000 miles/year x 2 years x .10/mile)
- No fees rolled in to the cap cost
- No cap cost reduction
The monthly payments, before tax, work out to be:
- RDX: $545.66
- EX35: $529.68
Umm...fricking WOW!!
I'm am so torn...I really like both for very different reasons...
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2008 RDX Tech for $369/month
$2999 due at signing (includes 1st month, no 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, doc fees, options, insurance and the like
That's all the info in the ad. What should I be looking out for? I'm guess at least the cap cost and money factor. Are these deals negotiable or are they set in stone and i can take it or leave it?
Thanks for any advise.