2017 Acura RDX Tech Package - Lease Question

ikhanikikhanik Member Posts: 6
edited September 2016 in Acura
Hi - I'm new to forums and leases, but have read enough to become somewhat familiar with the process. I made a spreadsheet with the following assumptions:

1) MSRP = 40,805
2) Residual value = 24,075 (59%)
3) Invoice (assuming 7% off MSRP) = 37,949
4) Depreciation = 13,874
Depreciation Payment = 385 (36 mos., 10K miles)

5) Net capitalized cost = 37,949
6) Plus residual = 62,024
Interest payment = 97 (0.00157 money factor)

Bottom line lease payment = 483

---

In return from a dealership in Louisiana, I received the following:

1) MSRP = 40,210
2) Residual value = 24,930 (62%)

3) Capitalized cost = 38,680
4) Documentary fee = 198.50
5) Acquisition fee = 595
6) Other fees = 234.50
Total gross cap = 39,708

4) Monthly depreciation = 410.49
5) Monthly service charge = 101.48
6) Sales tax = 51.20
Monthly lease payment = 563.17

I would appreciate any feedback to rationalize my assumptions or determine if this is a bad deal. Thank you in advance!

Comments

  • kyfdxkyfdx Moderator Posts: 187,616
    ikhanik said:

    Hi - I'm new to forums and leases, but have read enough to become somewhat familiar with the process. I made a spreadsheet with the following assumptions:

    1) MSRP = 40,805
    2) Residual value = 24,075 (59%)
    3) Invoice (assuming 7% off MSRP) = 37,949
    4) Depreciation = 13,874
    Depreciation Payment = 385 (36 mos., 10K miles)

    5) Net capitalized cost = 37,949
    6) Plus residual = 62,024
    Interest payment = 97 (0.00157 money factor)

    Bottom line lease payment = 483

    ---

    In return from a dealership in Louisiana, I received the following:

    1) MSRP = 40,210
    2) Residual value = 24,930 (62%)

    3) Capitalized cost = 38,680
    4) Documentary fee = 198.50
    5) Acquisition fee = 595
    6) Other fees = 234.50
    Total gross cap = 39,708

    4) Monthly depreciation = 410.49
    5) Monthly service charge = 101.48
    6) Sales tax = 51.20
    Monthly lease payment = 563.17

    I would appreciate any feedback to rationalize my assumptions or determine if this is a bad deal. Thank you in advance!

    Your money factor and residual are wrong.

    .00145 MF and 61% residual are the correct numbers for a Tech Package 2017 RDX for 36/10.
    $1750 dealer/lease cash.

    Given the dealer incentive, their price is too high. (plus, their residual is wrong, as well).

    On your first assumption, using the correct numbers, the payment would be $454/mo.+tax.
    That would be a reasonable deal. Add in about $30/mo. to cover their fees, and you are at $483/mo.+tax. which is about $30/mo. less than their quote.

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  • ikhanikikhanik Member Posts: 6
    Thank you!
  • ikhanikikhanik Member Posts: 6
    This is the deal I got approved at another dealer, thanks to your feedback. Any thoughts on if it's good enough or if I should keep looking? Thanks in advance!

    1. Sticker price + options = $40,010
    2. Times residual value % = 62%
    3. Equals residual value = $24,806
    4. Invoice price minus incentives (net capitalized cost) = $37,209
    5. Minus residual (from line 3) = ($24,806)
    6. Equals depreciation over 36 months = $12,403
    7. Depreciation (line 6) divided by term in months = 36
    8. Equals monthly depreciation payment = $345

    9. Net capitalized cost (From line 4) = $37,209
    10. Plus residual (From line 3) = $24,806
    11. Equals = $62,016
    12. Times money factor = 0.00145
    13. Equals monthly money factor (interest) payment = $90

    14. Documentary fee = $199
    15. Acquisition fee = $595
    16. Other fees = $235
    17. Equals monthly total fee payment = $29

    18. Monthly depreciation payment (from line 8) = $345
    19. Plus monthly money factor payment (from line 13) = $90
    20. Plus monthly fees (from line 17) = $29
    21. Plus sales tax = $51
    22. Equals bottom-line monthly lease payment $514
  • MichaellMichaell ColoradoModerator Posts: 183,121
    ikhanik said:

    This is the deal I got approved at another dealer, thanks to your feedback. Any thoughts on if it's good enough or if I should keep looking? Thanks in advance!

    1. Sticker price + options = $40,010
    2. Times residual value % = 62%
    3. Equals residual value = $24,806
    4. Invoice price minus incentives (net capitalized cost) = $37,209
    5. Minus residual (from line 3) = ($24,806)
    6. Equals depreciation over 36 months = $12,403
    7. Depreciation (line 6) divided by term in months = 36
    8. Equals monthly depreciation payment = $345

    9. Net capitalized cost (From line 4) = $37,209
    10. Plus residual (From line 3) = $24,806
    11. Equals = $62,016
    12. Times money factor = 0.00145
    13. Equals monthly money factor (interest) payment = $90

    14. Documentary fee = $199
    15. Acquisition fee = $595
    16. Other fees = $235
    17. Equals monthly total fee payment = $29

    18. Monthly depreciation payment (from line 8) = $345
    19. Plus monthly money factor payment (from line 13) = $90
    20. Plus monthly fees (from line 17) = $29
    21. Plus sales tax = $51
    22. Equals bottom-line monthly lease payment $514

    I get $472/mo before tax with those numbers ... pretty close to your calculations. If you're comfortable with the selling price, no reason not to go forward.

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  • ikhanikikhanik Member Posts: 6
    Great, thank you!
  • jasljasl Member Posts: 2
    edited November 2016
    I'm looking at a 2017 RDX AWD with Technology Package. It appears from the current Acura lease ads that they are assuming a 62% residual? Can you confirm this, and also advise what is the current money factor? 36 month term and 12K miles per year.

    Thanks.
  • MichaellMichaell ColoradoModerator Posts: 183,121
    jasl said:

    I'm looking at a 2017 RDX AWD with Technology Package. It appears from the current Acura lease ads that they are assuming a 62% residual? Can you confirm this, and also advise what is the current money factor? 36 month term and 12K miles per year.

    Thanks.

    36/12 on RDX w/ Tech is 59%.

    .00140 MF and $1750 bonus lease cash.

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  • jasljasl Member Posts: 2
    THANKS!
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