Acura TSX Lease Questions

CarMan@Edmunds

Hi acuralease. The Federal Funds Rate has no direct impact upon the interest rates that banks charge on auto loans and leases. While it is possible that Honda Finance's costs of funds might eventually drop and it might decide to pass this savings through to consumers, there is certainly no guarantee that this will happen.

Having said this, I would not be surprised if Honda Finance lowered its special lease money factor on the TSX when it introduced its new January lease program for it on the 6th. If it does cut its money factors though it will probably be just by enough to offset any natural drop in residual values that this car experiences at the beginning of a new year.

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CarMan@Edmunds

Hi kball2. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura TSX with 12,000 miles per year are .00263 and 64%, respectively for consumers who qualify for its "Super Preferred" credit tier. Keep in mind though that this lease program is only good through January 5th.

It is difficult to say whether Acura will extend its special financing rates into January at this point. Feel free to check back with me later this week and I will be happy to fill you in on the details of the new program.

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drtravel

Honda Financial is notorious for not have great money factors. They are conservative in their finances which turned out to be a good thing lately! I just leased a base TSX a few days ago and the residual is pretty sweet. For 15K/36 months the residual is 62% - much higher than most every other make out there. Looks even better given the great deals to be had.

For example a $29,720 MSRP has residual of $18,426.40. Based on my negotiated price of $26,777 - my actual depreciation hit is 18426.40/26777 = 68.9%. So the car will only depreciate 31% over the next three years. Not sure any other car can match that.

jmcbmw

Just got a sweet deal below invoice on a 2009 TSX-Tech at Keyes Acura on Van Nuys Blvd from their Internet Manager. Promised I wouldn't post the exact price online. Worked out to $800 drive off (1st pay + DMV) and $455/month w/ 15K miles. No hassle, big selection, all very nice and professional and I was out of there in about 2 hours including a nice overview of the car and it's numerous features. Today's the last day of the current lease promotion so similar deals to be had I'm sure.

CarMan@Edmunds

Congratulations on getting your new TSX, jmcbmw. Thanks for taking the time to share the details of your lease with everyone. It sounds like you really liked doing business with this dealer. If you'd like, you can share all of the details of your experience there by visiting the Dealer Ratings & Reviews section of Edmunds.com. Enjoy your new ride :shades: !

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darknightx13

When will we know if Honda extended it's current financing (i.e. MF and Residuals) into the new year? Is this as simple as calling a dealership tomorrow and asking? I'm very curious as to what's going to happen since I basically have to lease a new car in the next 11 days and I didn't make a deal during their current promotion. Thanks.

bvdj84

You will only know when the dealers know. If you can get a dealer to call you when an updated special arrives, then that would be the way to go. They only know on the day it arrives. I would not let them push you out either, meaning that if you need to extend your lease, which you can by calling American Honda. That way if you needed to take advantage of a deal you could have more time. Extending 1 month or so would not be a problem. Never let a dealer try to push you out, because you do have time. They might try to use that as an excuse to get you out, but deals might not be had at that moment. You'll be fine.

However, I sense that Acura will continue to offer deals to get through the winter and slump. Don't worry, take your time. Its your car, your terms.

Just either have a dealer call you, or check daily. They often will sense you are wanting a good deal, and will then do everything to get you just that. They'll call you.

Dramirez112

Car_Man,

I'm looking forward leasing a 09' TSX Base Model... 10k/36mo.

I would like to know what should the residual and money factor be.

** My mom will be the cosigner and already has a 07' TL Base Model under her name with Honda Finance. (Can I get better deals?)

*** She has perfect credit.

Dramirez112

$299/month w/ $2,500 down

Includes down payment and bank fee.

I've asked the sales person what the money factor and residual are for 10k/39mo. and he told me its .0025 and %63.

How does that work out?

$595 Bank Fee (Acquisition Fee)

$1905 Down Payment

= $2,500

aitrus03

Car_Man,

Hey bud, I am looking for residuals and mf on the 09 tsx base model, non tech package for 36/10k, 36/12k, 39/10k, and 39/12k. MSRP is at 29,720.

The dealer can choose to change the mf correct? My score is a 671 so I don't know how that works. But he is not allowed to tamper with residual percent? Those are set out by acura correct?

Thanks in advance!

aitrus03

From above:

I am looking for residuals and mf on the 09 tsx base model, non tech package for 36/10k, 36/12k, 39/10k, and 39/12k. MSRP is at 29,720.

Can dealers alter money factors and residuals rates if they want? IE tell me resid is 61% when it should be 64%?

I forgot to ask above, when leasing, with my score being 671, the dealer told me my money factor was .00355 which is 8.52% which seems fairly high. I can handle this if it is based off my score. But I know they make money on the financing in any deal. So question remains, am I being played with in this area?

Thanks all!

loonysup

I was quoted the following today:

39 months/12,000 miles per year
$2,499 due on delivery
Rate- 6%
Residual- $18,426.40
Monthly payment- $335 including tax

Based on my calculations, it looked like the residual on the deal was 63% which seems like it would be high if the residual for 10k miles is also 63%. Also, According the salesperson, the sale price is 27200, but I think this might be after applying whatever cap cost reduction that is taken from the 2499. They need to get under 1000 out the door to seal the deal for me.

David

drtravel

I reversed engineered the deal at acura.com

For 39 Months/10K miles per year plus 1605 capital cost reduction:

residual = 63% (likely is 62% for 12K per year and 60% for 15K per year)
money factor = 0.0025
MSRP = 29,920
Cap cost = 26,125
Payment = 299.00 plus tax

For 12K miles per year the cost is $305.91
For 15K miles per year the cost is $319.76.

Acura slightly lowered the money factor from 0.00263 to 0.0025 which still works out at 6%.

Suprising to me is that the residuals didn't drop - last month the 36 month residual was 62% for 45K, this month it's only 60% for 48.75K - pretty much the same. Given the steep discounts people got during the past few months, these values are high. A little sub-venting going on?

Maybe Acura feels that this will allow their dealers to make a few more bucks upfront. There were many below invoice deals made last month which may not be available now.

Dramirez112

So my next question is...

Is this a good deal?

The cap cost is already being sold basically at invoice price hoping thats not including the cash down.

Is there anything I can negotiate on?

Having two cars at once with Honda Finance...
Increasing the Residual Value & etc.

Thanks for the help!!!

loonysup

So aren't we really looking at a "sale" price of 27730 (26125 + 1605). If that is the case, it seems like there should still be room to play. And this isn't even taking into consideration any dealer hold-backs.

I sent a counter-offer to the dealer last night to try and reduce the out of pocket so we'll see how that goes.

David

bvdj84

Make sure you all are careful with the money down! Always start with a $0 down deal, to see the true deal. Many times dealers will blur the whole deal with your money's down. Remember that for every $1k you are taking about $20-30 or so off your payment. Start with a sale price, then get a payment, then if you want a lower payment, roll in your down payment. A few above deals seem a little off, with nearly $2,500. Please be careful. Some of those deals are so close to being a payment without your down payment. Those specials posted online are not specials, they are normal priced MSRP deals with money down to make the payment more appealing. Dealers want you to use that special.

Go in, ask for a sale price, then tell them $0 down, then later tell them you will put some down, but you might not have to, earlier deals posted had great deals. January might be different in lease numbers, probably not by much though.

Why do you see some deals for $199 a month, well look at the fine print, that you need a magnified glass to see it, you'll see at lease $1,000 due. lol :shades:

Be careful. Good Luck. I hate dealing, love getting a new car.

loonysup

I heard back from the dealer and if I reduce the out of pocket to a $1000, the payments are at $378 (tax inclusive) so they haven't really come down any on their side. I can't help but think that trying to do this deal solely online is not the way to go. It seems like they are more inclined to try harder if you are about to walk out the door. I may visit a dealer or two next weekend to see how it goes.

David

armishanks

someone developed a quick form or template so people asking lease questions could have a basis of comparison. I never know if people are talking base TSX or with tech, the impact of taxes, amount of downpayment, etc.

A simple template that standardized the info would give us everything we need to evaluate the deal.

I am not expert enough in leases to develop it, so I leave that to the smarter posters.

bvdj84

Good! Try other dealers, the love for the car should not interfere with the practical and financial side of it..lol. Its tough. I know for certain the my local dealer is incredibly overpriced, so I will go to my other dealer 1hr away. I have given them so many chances to give me good service, but they failed every time, and the issue is they don't even care. Bob Rohrman ring a bell! Buyer beware.

djo1113

Leasing newbie and new to the leasing spreadsheet, I received a quote on an 09 base TSX with the following terms:

12k/36mo
MSRP: $29,920
Sale Price: $26,197
MF: .0025
Residual: 63%
State Sales Tax: 6%
$392.30/month (includes acquisition fee + taxes + titling/registration)

Out the door and on the road with 1st months payment.

What do I make of this? Given the sale price I feel like I could get them down $15-20/month.

Any insight would be greatly appreciated.

drtravel

I played around with your numbers for awhile and came up with this.

For a MSRP of $29,920, cap cost of $27,960, residual of 63%, 0.0025 money factor, 36 months, 6% sales tax - came up with a payment of $392.30.

You state your sales price is $26,197 - so they are adding in the $595 acquisition fee plus $1,168 which covers license fees plus some sort of cash downpayment to get the cap cost. Not sure about how much your fees are. If I guess $268, then your actual sales price is 26,197 + 900 = $27,097.

If this is all true, then a pretty decent deal.

darknightx13

One of the dealers I've been negotiating with threw me a curve ball and proposed a different lease based on 39 months instead of 36 for a base '09 TSX, 15K per year.. I also got him to throw in the protection package.

The price is 382/mo (39 months) with less than $600 at signing (just 1st month and DMV fees). I had previously gotten what I thought was a good quote from another dealership but it was for a 36 month lease. That one was going to be $386/mo with more due at signing since it's in a different state where document and DMV fees will apparently run me higher. So I was looking at maybe between 800-1000 to drive away. I'll say $800 for the sake of calculating below.

So if I'm doing my math right, this means I could either lease the car for 36 months at a total cost of $14,882.01 or I could have the car for 39 months at $15,482.01.

That's $600 difference but I'm getting the car for an additional 3 months. Is this as good of a deal as it seems, or am I just being fooled with tricky math?

P.S. The residual on 39 months, 15K appears to be 60%.

loonysup

They are all going to be quoting 39 month leases now that the national program favors that.

I asked for quotes from 3 dealers that are about an hour from me, but I'm not having very good luck. One of them made it look like they were knocking over $500 off the out of pocket on the national program so it would be $1900 due at signing. When I read it more closely I noticed that it was 1900 + aquisition fee due at signing which brought it back to the $2499.....some "deal".

David

drtravel

I asked for quotes from 3 dealers

It's always best to just get a price quote on the car - that way you know whether the deal is good or not. Then you can work out the lease payment based on how much you want to put down as the residual and money factor is controlled by Honda Financial. Asking the dealer for a lease quote is just a golden opportunity for them to make some money and try to confuse the heck out of the process. I can hide an elephant in a monthly payment. Keep it simple, how much can you sell me the car for? Whether you pay cash, lease or finance - this is the number where you should start. IMHO

darknightx13

I guess what I want to know is how do I know if it's a good deal, now that it's 39 months.

djo1113

drtravel,

Thanks for your help. Can you explain how you came up with that cap cost of $27,960?

Thats where I get confused.

Thanks

loonysup

Well.
Looks like I sealed the deal. I talked to the dealership in Jacksonville Fl this morning. Their original quote was $3900 down and $339 a month plus tax. 39 months/12k a year. I told him I needed to be at $1000 down and $330 a month. He called me back a couple times and was originally at $379 with a $1000 down which is where pretty much every other dealer was. I told him thanks for trying he called me back 15 minutes later and said he was able to get it to $1000 down and $334 so I took it. This is way below anyone else in my immediate area. I ended up with a Palladium Metallic 6sp non tech. There is an outside chance I may change to an Automatic when I get there, but they said no problem. This was the only dealer that had a 6sp in a 300 mile radius.

leepoffaith

Loonysup,

Would you mind elaborating a little for me on this deal? Is it 1000 down PLUS dmv, tax, registration, etc. So your out of pocket would be around 2000, correct? Also, would you mind posting what they gave you for residual, money factor and selling price of the car? This deals seems pretty good to me and i may be asking you for your sales persons name if you end up going through on it. I'm in Tampa, but willing to drive. Thanks!

loonysup

To be honest, I am just a little bit concerned. I sent a note back to the internet manager for clarification as to whether the $1000 included the first payment and he confirmed that it did. I was quite clear when we were talking that the most I wanted out of pocket was $1000. He sent me an e-mail back saying we are all set and it's a $1000 down and $335 a month plus tax. It would be pretty sh*tty if I drive 2 hours on Wednesday only to run into a problem. I am going to touch base with them tomorrow to make sure I'm all set. I put a deposit down to hold the car. I have a friend that bought a TL from this dealer and had a great experience so I hope I'm ok. He said the residual and MF is the same as the internet deal (6% and 62%.

David

CarMan@Edmunds

Here's the information that you're looking for, Dramirez112. Honda Finance's January buy rate lease money factor and residual value for a 36 month lease of a base 2009 Acura TSX with 10,000 miles per year are .00250 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

When negotiating your lease on this car, make sure to take advantage of the $750 dealer cash that Acura is now providing on it.

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CarMan@Edmunds

Hey aitrus03. Normally I provide community members with the money factors for banks' top credit tiers. Unfortunately, the last time that I checked one needed a credit score of I believe 710+ to qualify for Honda Finance's top credit tier. Your score probably won't make the cut. It is more likely that you will be in its second tier aka "Preferred." I do not personally know what its money factor is for that tier off of the top of my head, but it is probably slightly higher than the .00250 that it is providing "Super Preferred" tier customers on this car right now.

Honda Finance's current 36 month, 12,000 mile per year residual value for the '09 TSX base is 63%. Its 39 month, 12k resid is 62%. If you were to lease with only 10,000 miles per year, these residuals would be 1% higher.

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CarMan@Edmunds

Hi aitrus03. See my previous post for my response. Dealers cannot alter banks' published residual values, but they are often allowed to mark up banks' money factors. Even after considering the fact that you do not qualify for Honda Finance's "Super Preferred" credit tier the .00355 money factor that you were quoted sounds high. You may want to comparison shop with another dealer ot two to see if you can do better than that.

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fer1

Hello Car_Man,
Can you provide Residuals & MF for the Accura TSX for 36months/15k and 39months/15k?
Thanks in advance.

fer1

Hello drtravel,
Can you explain how you get from MSRP=29920 to Cap Cost=26125?
It's not clear with only 1605 Cap reduction; which other discounts are there?

Thanks,

dae928

Hi Carman,

In the summer we leased a brand new TSX right when the car was released. The finance manager explained that Acura allows for customers to trade in a lease early for a new one. I am wondering if this is infact true, or if this was a tactic to influence a lease rather than a purchase. If the Acura lease program does infact allows this, do you know what or if there are any penalties associated with this decision.

Thanks,

bvdj84

They have told me the same thing. BUT, they will still look at your trade in versus your pay off amount. It is true, you can trade any time, trade early. As long as your values are nearly or close to equal. Meaning you have no negative equity to be rolled into the new deal. Since getting you into a new lease, would get them more money, a new deal. They will try to do everything to do this. Then they take your trade in and sell it making some more money. Though with the economy, they can only mark it up so high even if it is a Honda product. They really do want your business, they'll even trade with you with negative equity. Some customers don't care if their payments go up as long as they are getting a new car.

I am not sure their is such a program through Acura. I know GM has this, but they are no longer leasing or at least leasing all that well right now. But, you have to qualify, by having been in the old lease a certain amount of time, etc.

I trade early most of the time, I haven't had any problems. I sometimes try and its too soon, and then sometimes, I am literally equal, I can walk away and get a new one.

They want your business. But, with you being so new into your TSX, I am not sure you will be able to get out until perhaps late summer or fall, I truly believe you might be equal or closer then, Honda values do that well, though the economy might kill that. I had this happen on my Accord.

thing to remember, mileage does kill a lot of value on your trade.

I would love to lease a new TSX!

vin2ride

Yeah, working on getting a quote right now from northern california dealers right now. Got decent prices $200 above/below $27K. Got a decent lease offer at 36 mo. 10k mi./yr base model lease at $335/mo. + tax. with $1500 out of pocket.

Asked for a 12k/yr and 39 mo. term and they came back with a ridiculous $373. They do try to mark up the money factors. My Pilot lease is ending in a few months and am willing to take the plunge into a new tsx if the deal is right.

jags86

I was able to lease a tsx tech 6sp 39 month/12k this january for 1500 drive off (595 acq, 299 security deposit, 1st month payment, and 220 fees) for 363 + tax. The car wasn't even on the lot, they ordered it. you should be able to do significantly better on a non tech considering the residuals are higher on the base cars.

dolsey01

Car_man,

Is it 61% or 63% for 36 month '09 TSK Base with 12K?

This post says 63% and your previous post says 61%.

Thanks!

bvdj84

Wow that is a great deal! I am considering this car instead of the Accord. I personally love the paddleshifters option. Its a very hot looking car!

jags86

The Accord V6 may post better 0-60 times, but it doesn't feel very fast with that 4speed slushbox. The TSX with the 6 speed, imo, is a better value. It looks better, has a nicer interior, has more gadgets, gets better mileage, and is plenty quick for the average person. The step up to a comparably equiped 328i or G37 is nearly 10,000. You want a nice car at 30 grand, get the TSX.

I find everyone who complains that the new TSX not being "sporty" enough is just ranting for rantings sake. You can always find a car that does a particular thing better at a certain price. Try getting a 3 series--with 0 options mind you--leased for 1500 drive off, 380 a month, let alone one with some "basic" options like leather, power seats, or 6 cd changer...

bvdj84

Exactly, People who drive their new Honda's and TSX's be proud! Because, I want out of my 08 GM car. It was a long story of why I was put in the car, but I did a very good gesture for someone and had to choose a GM car so they could lease a new car. I had to give up my 06 accord lease to do it. I never ever wanted a GM car, I really didn't know to much about them, I had to choose a G6, 4cyl, came with leather and roof, I have grown to like it. But, I so miss my Accord! I would love to have a Honda product. My good Gesture...lol was an 08 Jetta which went to another person. So, I leased 2 cars.

I am looking to get out perhaps this Spring or Summer. You guys think I will be able to without damage..lol. Pay off and trade in values could be better then? I know that if I stuck with the same dealer, got a VW then I could do better. They sell GM, so they might want my car.

So anyway, Be happy and proud you are driving one of the best cars out there. A BMW certainly cannot beat its bang for the buck! It bugs me a bit to hear complain about it, be glad your not supporting GM and their executive jet they now have back. They'll never change. This is coming from someone who favors Honda. So no offense to GM lovers.

gforce11

You are correct (to an extent) that the TSX is a very good overall package at a reasonable price. However, I do agree with those who don't find this car "sporty" enough. I do currently have a TSX and a G37 and they are night and day. A base G37 has the basic luxuries needed to keep most people happy (leather, one touch windows, xenons, climate control, mp3 jack, etc...) The TSX does have more bells and whistles, but for those seeking the "sport" in sports sedan, nothing replaces whats under the hood. I'll give up my moonroof any day in order to have 330 ponies under my hood.

jags86

I agree there are sportier cars--certainly the new TSX isn't a sports car--but even a stripper g37 6mt and 0 options is 5 grand more than the base TSX and the g37 comparably equipped vs. a TSX Tech its 7 grand more. To me, the occasional fun getting onto the highway isn't really worth $7000--I expect most people writing on car forums would disagree with me, though

bvdj84

Yes, Having a high powered engine would be fun and exciting. But, just think those that have those dodge chargers, the challenger, G8, or any V6 car. How often do you really let is rev up to its full potential? Most probably would say they don't do it to often. My co-worker has a charger R/T, with the V8, and I doubt that she ever gets it out to stretch its legs. She literally lives 5min away in town. That is so bad for the car. Even for myself, I am not sure I would rev it up all the time or use the power line the way it was supposed to be. Though would have its fun moments in it, I would not need the power. Some might think its worth having. I am very much used to 4cyl cars, I drove a V8 car once, and it was fun, but even then, I couldn't see myself racing up and down the road all the time, especially if I don't want to get a ticket. It put a smile on my face though.

I tell you what though, I test drove a Jetta Wolfsburg edition last spring, This model has the 2.0T engine. I loved it!! Very torquey, and powerful, you could really wind that baby up, a lot of fun on the interstate! Get this, only about $1,000 more than the normal SE Jetta! Totally worth the upgrade! It has the close ratio 6spd DSG transmission! That car was so much fun! Apparently this car beat the V8 Pontiac G8 by a half a second! Of course this is a much smaller car, but impressive!!

I have not test driven the TSX, but is the TSX torquey when using the paddlshifters? If the TSX has this type of feel to it, then I would so get it!

I think the TSX looks sporty enough, sportier than the new TL I think.

gforce11

That's very true, the price tag is much higher, but if we are talking leases, it shouldn't be too big of a price difference. Now, if you were buying, I totally agree with you. For example, my TSX runs me about $367 a month and my G37 is about $418 a month. Had I opted for the G35 sedan instead, it would have been around $400 a month. Keep in mind this is with out any cap reduction. In the end, it all comes down to what you value most though. If bells and whistles are your thing, you simply cannot go wrong with the TSX.

bvdj84

I seriously want to test drive the new TSX! I have not done it yet.

Do you know if the TSX comes in the red? That would be hot!

Correction: It looks as though it comes in the basque red color, which not the brighter "red". Bummer! I think it would look really sporty in that color, but this color still looks good, I think this is the color I saw at the car show. However, I am thinking black if I got the car.

dtorz21

ok so my first few contacts to dealers has come back with a price of 379... this is for 39 months, 15K a year, zero down, total out of pocket at signing is just first month payment and MV fees..... all taxes, bank fees, etc are rolled in

at first i thought it was an opener from the salesperson but after reading here it actually seems like a decent price

bvdj84

First off, If the economy wasn't in the bad shape that it is in........
The new 2009 Acura TSX would never be at this kind of deal right now. Acura has steep pricing, be fast realizing, now is not the time to play games.

The deal sounds amazing!! Better than the EX-L 4cyl Accord with navi, that has a sale price of $24k+ average. I would jump on this deal!! This is great!!

You have a luxury, sporty, Accord!! That is exactly what it is!!

Good Luck!! Sign them papers!

Let me know what color combo you got. You are going to have so much fun!!
I am jealous!! I want my Honda Back!

gforce11

I think the red on the previous generation is what you are looking for (thats what we have on our TSX). Personally, I would opt for the black. I think it looks very elegant on the TSX.