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2013 and earlier-Acura RDX Lease Questions
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Thanks
Selling Price: 31500 for the base (2K off MSRP)
Money Factor: .00146
Residual: .58
$409/month + $3000 down. Any feedback?
This is 36mo 12K miles lease including the taxes / fees
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The 2.9% to 3.9% special financing program that Acura is providing on this truck is only for conventional loans, not leases. Having said this, Acura's money factor on it is pretty good right now. A factor of .00146 is equivalent to an interest rate of around 3.5%.
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The MSRP on the vehicle is $33665. The dealer quoted a selling price of $32500. This is for non-tech version of course.
Gross cap cost: $33163
Cap cost reduction: $2000
resdiual: $18852
rent: $2628
leading to a 36 month/15k per year lease payment of $415 including tax.
The agreed upon cost of the vehicle was $31480 and included $1387 in IL tax. Also included were all season mats, splash guards and wheel locks.
Hope this helps someone!
I loved the RDX from the first time I took it for a ride, but couldn't get much of a deal. After a week of convincing myself that I couldn't afford the RDX and that the CRV was better for me, I went to the Honda dealer (next to the Acura dealer, same affiliation)to lease a CRV EX-L. I couldn't believe there was a 2 month wait! Fortunately my Acura salesman saw me gazing at the RDX after being turned away at the Honda dealer. He asked me in and made me an offer I couldn't walk away from. Don't know if it's a good one, but it's one I could afford. Here's the deal I got.
MSRP: $33665
Selling Price: $30774
Money Factor: .00146
Residual: .58
Down Payment: $3000
Mileage: 12k
Payment: $365/month tax included
Now I have to tell my wife!
What is the residual and money factor for both the RDX base and RDX Tech Pack for 36 months and 10K miles per year.
Thanks.
I just leased mine end of January in NYC. Just for comparison I got the non-tech with the same money factor, residual etc. but with 36mo, 12K, no money down, just standard tax, title, fees for $395.28/mo.
Hopefully you can do as well or better.
My final negotiation and deal closer was based on giving me 12K for the 10k quoted price of $395.28. Work out OK for me.
Good luck!
Can you please tell me what is the current money factor and residual for RDX with and without tech. for 36 months for 10000 or 12000 miles.
Thanks is advance.
As I mentioned in my previous post, the money factor that you were quoted is right in line with Honda Finance's buy rate for the RDX. This is a good thing. Make sure that the dealer you are working with uses this factor to calculate your truck's monthly payment. Also, there's nothing wrong with paying your vehicle's first month's payment, security deposit, acquisition fee, and any required state fees at signing, but don't make any sort of capitalized cost reduction. Consumers who make large down payments on leased vehicles risk losing them if their car or truck is totaled in an accident or stolen and never recovered.
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This is a great forum.. I have been lurking for the past month or so and i am ready to pull the trigger on an RDX lease.
The dealer i spoke to in the Boulder, CO area touted the advertised 3k down, $379 a mos for 10k miles deal.
When i presented some of the information from your posts regarding Honda Finance rate lease money factor and residual values, he gave me the typical, "You cant believe what you read on the internet" and "people are just trying to brag about deals better than they actually got" line.
I know this is dealer speak and believe the information you post on this site. i would love to be able to throw some facts in his face but obviously showing him a link to this forum wont cut it. How can i actually get the dealer to admit the current Honda Finance rates??
many thanks!!!!
2007 without tech pkg. 36months 10k ,with 1000 down money factor of 0...1460% $479 included is the 3 months I have left on my Honda lease (Looks like the same figures you have in previous postings) residual 58% etc Is this the best I could hope for also as most dealers a bit for pressure to sign before the end of the month. I was hoping to bargin for a better deal Do you think I can? If I decide to pay the 960 upfront the monthy becomes 450 HElp so confused
The invoice price on the RDX w/Tech is approximately the same as the MSRP used to calculate their current lease deal on the non-tech package ($369 per month/$2999 at signing). Can I then assume that I should be able to negotiate a lease deal for the Tech package at those same numbers they are offering for the non-tech package?
Any help is most appreciated. Thanks!
$32,112 cap cost (invoice + destination charge+ acq. fee)
money factor of 0.00108 (2.59%)
residual of 19,189 (57%)
36 months, 12,000 miles
No security deposit
$476/month with NOTHING DOWN, and includes taxes, title, registration, etc. (all I do is pay the first month before I drive away) The monthly payment also includes the $773 payoff on my existing lease (4 months left @ 3.5% interest).
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Basically, you want to negotiate the lowest selling price that you can on the truck that you are interested in and then have the dealer that gives you the best price calculate your truck's monthly payment using its buy rate lease money factor. You never mentioned the MSRP or selling price of the truck that you got a payment quote on. If you tell me what these numbers are I would be happy to give you my opinion on this deal.
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Regarding putting money down, think of it this way....why give them a down payment when you could just take the money you might already have in savings, earning hopefully a decent interest rate and apply it towards the payment. You come out ahead. Plus, if something happens to the car - totaled or stolen - you'll never recoup the down payment. DON'T DO IT!!!
I've read through the posts and have a few questions regarding RDX lease terms.
I've seen the MF listed at .00146 and .00108 - is the difference based on credit score or did the MF change between Feb. and March.
I assume the MF is the same on both the RDX with and without the Technology Package?
It appears that residuals vary between models with 59% for 36month/10k on RDX w/out Tech Package and 56% with Technology Package?
Finally, when you calculate expected lease payments for posters (e.g. Stephlite above) at no money down are you including security deposit, first month and acq. fee in the payment or as money due at signing. In other words, is a no-money down payment calculation based on the assumption of no money towards cap-cost reduction or truly sign and drive with zero money out of pocket?
Thanks in advance.
I just found out that my sister's credit score is 570. Is there anyway to find out what the money factor should be based on this credit score.
Are residual values consistent or can they be manipulated by the dealer/Honda finance? Are they based on anything more than the combination of lease term and annual mileage?
How might I calculate monthly payments on 12k and 15k lease options.
Any help would be appreciated. Thanks!
That said, you cannot calculate the lease without the money factor and the residual (which will vary based on the annual mileage). I also have to believe the money factor is based in part on her credit score.
Non-Tech RDX
MSRP: $33,665
Lease Payment: $437.26
Lease Length: 36
Miles/Year: 10,000
Cap Cost: $32,500
Acquisition Fee: $595
Money Factor: 0.00108
Residual: 58%
Due at signing: $741.52
(The 24 mo lease pmt is $539.29)
Thank you very much.
MSRP $33,665
Cap $31,790
.00108 money factor
57% residual
36/12k term
$456.06 monthly
$169 reg & tags (3yr)
$625.06 due
or
$385.52 monthly
$3000 due
I feel like the cap is just a little high, am meeting with the dealer this coming tuesday, she says there is a little room for movement. Whats everyone think though? Thanks!
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I believe that Honda's lowest credit tier, its "Select" tier is for consumers who have credit scores of 609 and lower. If she is approved to lease an RDX, your sister will probably have to use this credit tier's money factor to calculate her month;y payment. I do not know exactly what Honda Finance's money factor for a Select tier lease of an Acura RDX is right now, but it will probably be .00200 to .00250 higher than its best money factor for this model.
Vehicles' residual values are set by the bank that you are leasing through and individual dealers do not have the authority to alter them. They based upon the model, term, and mileage that you choose. Vehicles that are leased through Honda Finance for 36 months with only 12,000 miles per year have residuals that are 2% higher than its 15,000 mile per year residuals.
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Now let's take a look at this truck's selling price. A 2007 Acura MDX without the Tech package has a dealer invoice price of $30,942. The price that you were quoted is just over $1,5000 over invoice. This isn't terrible, but if I was in the market for this truck and was in an area that had a couple of Acura dealers I personally would shop around a little bit to see if I could beat this price. You don't have anything to lose by trying. Make sure to stop by the following discussion to see how much other community members have paid for similar vehicles lately: "Acura RDX: Prices Paid & Buying Experience".
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