Acura TSX Lease Questions

CarMan@Edmunds

Hey 2008navi. Honda Finance's lease money factor for the 2008 Acura TSX is exactly the same in February as it was last month.

Car_man
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Prices Paid: Buying & Leasing Experiences Forum

cfrago

Carman, thanks for the info. It sounds like the national deal is pretty good. My rough calc go from the 299 and would add may 16 a month for no cap cost (605/26) that is in the national deal and then maybe 22 a month or so to go from 10k to 15k per year. sound close? I might try for the 299 and see if I end up around 310 to 320 (with no cap cost and 15k yr). what would the residual be at 15k a year? also, does acura/honda finance negotiate much at the end of the lease if you decide to buy it? ie, if the residuals are not holding up, might you be able to buy it for less that the contractual residual? thanks again.

cacevedo

Just picked up NHB with Parchment.
MSRP 31005
Sell 29056
Money Factor .00035
Residual 57% - 10000mi/yr
Park Ave Acura in Rochelle Park,NJ

Monthly pymt - 356.14
COULD NOT RESIST THIS DEAL!!!!!

jaxs1

It's only 10,000 miles a year. You may regret that later.

andywdj

Just signed to lease TSX with Navi. $375 per month no money down. 36 months with 12K miles per year. The dealer quoted $430 per month but i forced them down to $390 and I asked them to go down to $375 but they said no and they said I can lease non navi for $320 per month. But the manager came back with an offer for TSX with Navi for $380, my wife said no, and he came back again with an offer for $375 per month for Navi and I said yes. Took me 1.5 hours! They still have 3 more left at the lot all with Navi.

roly03

Congrats on the new lease. Quick question for you-- did you roll up the acquisition fee and dealer fee into the payment? Also, how did you get them to increase the mileage to 12,000? I'm looking to lease soon, and need all the help I can get. If possilbe, please provide the following information:

Capitalized cost
Residual Value
Interest Rate

Looks like you got a killer deal. Congrats

andywdj

To Roly03,

I will response all your questions by tomorrow. I have it deliver by tomorrow so I can have all the information you requested by tomorrow.

roly03

Hey Andy,

Appreciate the quick response. Good luck today with your car delivery. I hope everything goes as plan. Thanks in advance for sharing the details!

andywdj

Okay, just got the Dark Grey Acura TSX with Navi!!!

To answer roly03 questions:
Capitalized cost: $29508
Residual value: $17362
Money factor: 0.00035
Rent charge (is this acquisition fee?): $590

I am sooooooooo glad that I went with Navi, sorry, maybe I am too exaggerating stuffs here but I never had navi before and probably will never buy a vehicle without navi in the future... $375 / month; 12K miles /year; 36 months....

roly03

Congrats on the new ride. Appreciate your help.

res332

I was looking at an Accord EX-L but heard the TSX has really good lease rates. Here is the deal I was offered on 2/23/08 for a 2008 TSX without navi: 36 months; 15K per year; $2000 down; $285 per month (plus 9% tax in PA = $310 total per month); MF .00035; don't have residual but should be about 55%; MSRP $28905; sale price $26,673; acquisition fee $595; "fees & insurance" $153; "upfront taxes" $127.

I'm hesitant to get an 08 TSX because the redesigned 09 model due out in about 2 months and I do like the 08 Accord which has received excellent reviews. That being said if the TSX offer is truly an exceptional deal I would do it.

Also, do you really need premium gas in the TSX?

I'm looking to buy very soon, so any advice would be appreciated. Thanks.

cfrago

of the 2k down, how much is cap cost reduction? the national deal was 299/mo, 10k a year, 1499 down (includes, 605 cap cost, 595 acquisition fee, first month payment, no sec deposit). I sounds like you might have 1105 cap cost (605 in deal plus 500 to get to 2000 dp).
yesterday i was quoted for a 6sp non navi, no cost cap, 15k a year, 345 (299+cost cap of 605 over 36 months, plus 29 a mo to go from 10k to 15k miles a year).
you deal sounds pretty good.

res332

cfrago,

The paperwork I received from the dealer lists "cap reduction (cash)" as $1417. Still think this a good deal?

nickdetomaso

Does anyone know the current residual percentage for a 2008 AUTO TSX w/ Navi for a 15K/36mo. lease? Thanks in advance!

res332

Today I received a quote for 36 month, 15K per year lease on 08 TSX without navi. The residual was 55% ($15,897). With 2K down my payment would be $282 per month plus 9% tax in PA for a total payment of $308 a month. What numbers did you get for 36 month, 15k per year on the TSX with navi?

Car Man: Any thoughts on my proposed lease? Here is more info from quote using language from the dealer: "fees & insurance" - $153.95; "upfront taxes" - $126.99; "cap reduction (cash)" - $1,411; "total selling price" - $26,364; "acquisition fee" - $595; MF .00035

rb2008

I just leased a 2008 Acura TSX, no extra options, non-navi, 5-speed auto. My payments are $296/month (plus tax). I have put $4000 down (I don't like to put a down payment on lease but I just really had to make the payments as low as I could). The residual on the car is around $16700. Lease terms are 10k/yr, 36 months lease. I qualified for tier 2 because I wasn't on the credit bureau for long enough (only 8 months or so) as I moved recently. I don't know exactly what it is, but they told me that the money factor is 2.51%. It seemed to me like it was a good deal because it was only $1800 more than the advertised on the lease special (WA residents pay additional $700 fee on top of the $1500 advertised) and the payments were actually $3/mo less.

My question though is: did I get a good deal? Your comments are greatly appreciated. Thank you!

cfrago

I am not the expert as Carman, but I prefer not to see a cap cost reduction. All you are really doing is prepaying upfront additional monthly lease payments. If your cap cost is 1417 and the term is 36 months, your monthly payment is really 39 a month higher (1417 / 36).

Last night I was just offered a monthly payment of 327 a month for a 36 month lease, 15k a year miles, no cap cost. (first offer was 345). I still might try to work it down. I always look at monthly's excluding taxes as that can very from state to state and change the look. You do need to consider sales taxes etc as some states have unusual rules for leasing.

res332

Thanks cfrago. The "base payment" on my quote is $282 plus tax of $25 for a total of $307 per month. Therefore, adding the monthly cap cost reduction of $39 to the base equals $321 which is pretty close to the quote you were given. Let me know if you are able to do any better. If I get the total monthly payment down to $300 I'm likely to pull the trigger.

Also, do you know if Acura revises it's incentive/ lease package on March 3 like Honda?

Thanks

izdubb

Hello,

I'm new but have been reading a bunch.

Here's the deal I'm getting from a dealer in SoCal:

2008 Acura TSX w/Navigation
36 Month Lease @ 12K/year - Sign and Drive ($0 Drive Off)
MSRP: 31005
CAP COST: 29368
RESIDUAL: 56% = 17363
MF: 0.00035
SALES TAX: 8.25%

PAYMENTS: 378.69/MONTH

Is there anything I could work down regarding these numbers?

Thanks!

minicheru

Today, I received a quote for 08 TSX wthout navi.

36 month / 12K per year lease / zero downpayment = $333 per month (including all fees and taxes)

Is this a good deal?

2008navi

Yes, The 08 TSX lease is the best ever offered. a .00035 money factor equals .84% interest. I believe on a 36 month lease you are paying less than $10 interest per month. After just two years into the lease you would have paid down the TSX below its whole sale price.

My deal:
08 auto with navi
Sign and drive.
12K miles per year
358.00 per month.

chipc1

Does anyone think there will be a better deal when the 09 TSX's debut in March? I really like the current body style and most likely will lease one soon.

Current deal:
$299.00 per month for 36 months. $1,499.00 total due at signing.
10k/year. Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers.

jaxs1

There might be better deals. It just depends on what's left to sell.
If they get rid of most of the 08's with the current deals, there will be no reason for them to do anything other than maintain the programs they have now, but you will have few models and colors to choose from.

fairfax77

Hi -- first, thanks to many on this forum who provided valuable advice, especially Carman.

Here is the deal I got from a San Francisco Bay Area dealer. I did the negotiating via email and was very specific about the color combo I wanted. It was a painless, perhaps even pleasant process. No games by the dealer.

08 TSX Auto w/NAVI
36 months/ 10k per year (I didn't need any higher mileage)
DOWN - $1499 drive off, which included:
- first month lease payment of $337
- initial tax, license, destination and doc fees
- cap cost reduction
- protection package and door edge guards (about $400)
- interior trim kit (about $350 with installation)

My monthly lease payment is $337, which breaks down to $310 + $27 in taxes.

Residual is $17,672.

The dealer threw in 3 free oil changes.

I was going to purchase the car and finance, but the money factor could not be beat. I leased instead to give me some options. If for example, the car gets damaged, I may not want to keep it. Or if my situation changes and at the end of 3 years, I need another type of vehicle.

I am socking away another $350 every month so I have a tidy sum to help pay off the car at the end of the lease if I want to keep it.

I think I could have bargained more, but the color combo I wanted was very hard to find currently in the Bay Area, so I was eager to close the deal.

Good luck everyone. The TSX is one great car!

gforce11

This is the smartest thing I have heard in a long time!!! Congrats on the deal, enjoy the car. My wife loves the one I got last year, so much, its now her car.

robger99

Anyone know roughly how much monthly extra it should be to go from 10k year to 15 k year mileage on 36 month lease.

kyfdx

Should be 3% of MSRP, divided by 36 months..

Right around $25/mo..

robger99

Thanks-initial price from dealer is $1000.00 out of pocket 36 month 15 k/yr $350.00 month. I think i can get closer to $325.00 month.

jaxs1

Does anyone know if the dealers contribute anything to the current lease deals that would prevent you from getting as big of discount from the cap cost as you would otherwise?

I wonder if it would be cheaper to purchase at a lower price than what you can get as cap cost on a lease and then take the 2.9% Acura financing for 60 months and save the $595 acquisition fee and disposition fees charged for leases.

jaxs1

When do they come out?

chipc1

I checked on Acura's website for the TSX lease rates. The old rates are still up there. I believe the current lease rates end today. I'l check back tomorrow.

I might have missed my opportunity to grab the TSX that I wanted. PWP w/ black interior, 6spd Manual w/ navi. I checked with local dealers and said they couldn't find one available anywhere in the country. I might have to settle for a black one.

billycorgan

I inquired about a lease offer today here in chicago.
out the door. Only 2 in stock.

$339.00
36 month

10k miles
yearly

* No Navigation *
The Nav is really some amazing unit in this car.

w/Nav $388 mo w/out tax.

Havent decided,

jaxs1

So that's $49 per month extra for nav.
Don't you think that's a bit much for a 30,000 miles lease?
$1764 for 3 years use of the nav?

whatawave

I just visit my local acura dealer here in NJ (openroad acura) and was offer a tsx

with 12000 miles and navi for 259 plus tax of 7% which comes out to 277 a month

and they want 2500 cap cost and 1300 for doc, bank aquistion and license fee.

Total would be 3800 for down payment and 277 a month.

Down payment sounds kinda of high. Any idea if this is a good deal?

cfrago

doesn't sound too bad to me. the national deal that I think ended March 3 was: $299/month, 36 months; 10k a year, 605 cap cost. and fees so total due at signing was 1499 (with cap cost). I thought nav added almost 50 a month (which to me is too high). If I take you 259 and add to it the additonal cap cost of 52 per month (2500 - 605, over 36 months) equals 311. seems real good to me. The best I was able to negotiate last week was 327 a month (no navi) over 36 months, 15k a year and no cap cost.

jaxs1

Why would the nav add around $50 per month on a 36 month lease? $50*36 = $1800.
That's almost paying for the entire cost of the nav system (nav adds $1926 to the invoice price) when you only are using the car for 3 years.

Shouldn't it be closer to 1/2 of that?

kyfdx

Acuras with NAV carry lower residual percentages...

But, when the same $XXX over invoice pricing is used on both NAV and non-NAV cars, the difference usually comes to $35-$40 per month more for the NAV equipped unit..

Still, pretty pricy for a $2K option..

mokiavelli

Here in So Cal, just leased one for about the same price as the national advertised special, but with lower drive off and 12k per year.

$301 plus tax

$605 total drive off (1st month payment, $45 doc fee and DMV)

12k miles per year 36 month lease

57% residual

bvdj84

2008 Acura TSX With Navigation!

I was offered $324 with TAX. $2,000 down, 36mth, 12k,

Does this sound good? Should I do it?

This is about the same price for the Accord 4cyl, Navi I got... so they are tied,
which car would you pick? $318 for the Accord, $324 for the TSX
both with $2k down.

Please let me know!! This will help!

jaxs1

It doesn't sound good compared to the post that's right above yours unless you want to pay for the entire cost of the nav yourself even though you only have it for 3 years.

gforce11

Deal above you is better. But I'd opt for the Acura over the Accord since its a bit peppier. The Accord is a bigger car tho, so if need the space, Accord is probably better. I would advise against putting down $2000.

goodmaej

I am a first time lease buyer. I need help to know if I am getting a good deal on a 2008 TSX.

36 months
12,000 miles
$2,187 down

Quote of $328/month

I was also quoted $405/ month for a 2008 TL

Are these good deals? Which is better?

bvdj84

Read my post above, I think you could go a bit lower, but your quote is still good, get rid of the extra $100 or so off the down payment, and get the payment down to where I got, which I think is low, the incentive now is $2k down for $299 with navi.

jaxs1

You would actually be better off putting all of the money you would have used for a "down payment" into a money market account and making monthly withdrawals to subsidize the higher payment if you need to. You can deposit it in a separate account and schedule automatic transfers to your main account for the days the payments are sent if you have trouble with the discipline needed to not blow the money on other things.

Unlike a car loan, the down payment on a lease doesn't save you any interest. All it does is shift money from the monthly payments into an up front payment and makes it easier for them to disguise a bad deal by focusing on the low monthly payment.

You will also lose this down payment if the vehicle is stolen or totaled since insurance only covers the balance owed to the lessor. If all you had to lose was a few dollars of money market account interest, it wouldn't be that bad, but why put the money at risk of loss if the car is totaled and lose the interest too?

It's also a lot easier to compare lease deals posted when there isn't a cap reduction involved to add confusion to the real cost of the lease.

There is not much point for lease cap reductions and it has negatives.

krwest1

"Unlike a car loan, the down payment on a lease doesn't save you any interest. All it does is shift money from the monthly payments into an up front payment..."

I agree with your entire post except for the above statement. Since a down payment lowers the cap cost, the amount that you are paying interest on is lower -- (Cap Cost + Residual) * Money Factor. For example, a $1000 down payment on a car with a .002 money factor will save you $2 per month in "interest". Still, not enough savings to justify a down payment in my book.

jaxs1

I was told differently, but that seems to make sense.
Most will also have to pay sales tax upfront on the cap reduction, so they would lose a few dollars of potential interest earnings by giving up that money on the first day rather than later with payments, but the biggest risk seems to be that you will lose the cap reduction if the car is stolen/totaled. I was also told that GAP insurance will not pay you back any of your cap reduction. It only pays any shortfall between the value of the vehicle and the amount still owned on the lease. That sounds like the lease company also gets to keep the extra money if your cap reduction makes the lease payoff amount less than they get from the insurance payoff.

Do they write you a check for the excess if you put thousands down on a leased vehicle if the insurance company pays them more than the remaining payoff for the totaled vehicle a couple months after you start your lease and GAP reduction wasn't used?

mojomets13

got offered in VA

2008 TSX no Navi
0 Down
1900 Taxes and 1st month payment
$336 a month
15K miles

sound like a good deal?
should I ask for a lower monthly?

mokiavelli

I am replying to my own post. What I did was only negotiate the price on the car. The rest just falls into place. The other factors, money factor and residual, are already determined. The money factor is based on your credit, and currently the money factor is a national Acura/Honda Finance sponsored rate. The residual is the same wherever you go, based on the mileage in your lease. Dealers try to confuse people by quoting the payment and down, so that you won't realize how much you are paying for the car.

dshkrab

Hi all,

I just leased a 08 TSX w/o Navi.

I got a price of $345 a month which includes the Tax payment (~$30 a month).
The Cost was just over 27,000, I don't have the numbers infronf of me now but it was about $150 over invoice.

The dealer was geting frustrated with me since he only had about 20 TSX's left in storage (I saw that myself), he has no more 08's comming in (He showed his invintry database) and only 10 TSX's were Non Nav out of which ONLY 1 was Carbon Gray (My TSX).

A trend that I have noticed is that because of the commin 09 model (~April or early May) the lots are out of 08 models and arent as willing to negotiate a good price. I did want as ask if I got a good price from this guy?

$345 with Tax in payment, and about $317 If tax was upfront.
I also payed the Aquisition/Bank fee, First months payment and DMV fees (about 1,100) out of pocket.

mstylady

dshkrab,

Where did you get this lease from? State, dealership?