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Acura TSX Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey anonymousposts. You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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  • anonymouspostsanonymousposts Posts: 4,202
    According to the contract the sales price was $29800 including accessories. The residual is $17,887. We put $600 down out of pocket but the contract showed the downpayment as $1,000.00.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I see. I didn't realize that by reading your post. One of my main problems with the TSX is the lack of support that is available on it. It's a great car, but for me the lack of lease support would prevent me from getting one. The dealer invoice price of an '06 TSX with navigation is $27,872. When you add the $1,200 in accessories to that (probably at a dealer cost of $1,000 or a little less) we arrive at a cost of around $28,872. So you got this car for around $1,000 over invoice. That's about what I would expect for one to have to pay for a TSX, but you can always stop by the following discussion to see how much other community members have paid for similar cars lately: "Acura TSX: Prices Paid & Buying Experience". Assuming that the accessories that you added can be residualized, I estimate that this car's 36 month, 15,000 mile per year, zero down, pre-tax monthly payment should be around $450. This is quote a bit lower than $500 a month, even when tax is added in. I wonder if you had your car's security deposit waived and its acquisition fee added into its capitalized cost. If so, this would also help explain part of the difference.

    Car_man
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  • mrswheatmrswheat Posts: 1
    Hi everyone...

    Could you tell me if this is a good deal on a lease?
    2006 Acura TSX CL9685 4D Sedan Sportshift
    36 mo lease
    10K mi/yr
    Selling Price 27,338.58
    Down Payment 2,212.87
    $395/monthly payments

    Thanks
  • anonymouspostsanonymousposts Posts: 4,202
    We paid no security deposit. The $600 down paid our first month's payment so we only have 35 payments remaining. Not sure about the acquisition fee. Since all we put down was essentially the first month's payment I am assuming the acquisition fee was rolled in.
  • I can use some help please. First if anyone could point me to a good dealership in the NYC area I would appreciate it. I've been to two dealerships. One in Woodside,NY and the other in Springfield,NJ. NY wanted to charge me sticker price and NJ wanted $189 for a bank fee and over $300 for license plates.

    Car_man I know how to calculate a lease. I need the 'real' residual value for this car and the 'real' money factor. My credit is good. I've been given two different answers so far. Also are there two different finance company's that Acura goes through?

    Thanks in advance.
  • sthavornsthavorn Posts: 31
    Hi mikefrombklyn, Can you share your lease calcuation? According to Car_man, 36 month lease with 15,000 miles per year the money factor and residual value would be .00265 and 58%, respectively for a lease through Honda Finance's "Super Preferred" credit tier with a security deposit. Thanks
  • I was told that there is no security deposit. I only need 12,000 miles a year. I was also told that residual is 57% and .00275 for the money factor. This is from the sales manager. I'll take the car for 39 or 36 months it doesn't matter. I've been quoted montly payment from $572 with a $1,000 down. The guy wouldn't explain how he came to this number. He just said that he puts the figures in the computer and it gives him the price. I got my calculations from leaseguide.com
    thanks
  • tbenson81tbenson81 Posts: 25
    Can someone tell me what the current Residual and MF is for a 2006 TSX with Navi on a 4 year / 15k per year lease through Honda Finance? Thank You!
  • I'm negotiating a possible new lease on a TSX here in Philly, and I have a question about the money factor. Right now, it seems that Acura is offering 2.9% financing for new buyers. Is this financing available only for purchases, or is it available for leasing as well? 2.9% financing would work out to a money factor of something like .00121, but I'm seeing money factors on this board of .00265 and up.

    Thanks in advance for any insight.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mrswheat. The dealer invoice price for a 2006 Acura TSX with an automatic transmission and without navigation is currently $26,051. The price that you were quoted for this car is around $1,288 over invoice. I am not intimately familiar with what the market is like for this car right now, but if you are in an area that has a decent level of competition I would not be surprised if you were able to negotiate another couple hundred dollars off of this car's price. Take a look in the following discussion to see how much other community members have paid for similar cars lately: "Acura TSX: Prices Paid & Buying Experience". When you arrive at a selling price that you are comfortable with, make sure that the dealer you are working with uses Honda Finance's current buy rate lease money factor for the TSX to calculate your car's lease payment. This number is currently .00275 for 36 month leases to consumers who pay a security deposit at lease signing and qualify for Honda Finance's "Super Preferred" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Help is on the way, mikefrombklyn. This car's lease program varies depending upon how long you lease it for, how many miles per year you are allowed to drive, and whether it has navigation. For now I will assume that you are interested in a 36 month lease of a 2006 Acura TSX without navigation with 12,000 miles per year. Let me know if you want something different. Honda Finance's current 36 month, 12,000 mile per year buy rate lease money factor and residual value for the 2006 TSX without navigation are .00275 and 61%, respectively assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Honda Finance is the main bank that Acura dealers lease vehicles through. However some independent banks occasionally have more attractive lease programs on unsupported vehicles, like the TSX is right now. If this is the case, the dealer that you get your new car from will try to steer you towards leasing through an independent bank.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, tbenson81. Honda Finance's current 4 year, 15,000 mile per buy rate lease money factor and residual value for the 2006 Acura TSX with navigation are .00265 and 48%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Let me know if you have any other questions.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi phillyrunner. Unfortunately, the 2.9% special financing rate that Acura is providing on all of its models right now (for up to 3 years) is only available on regular loans, not leases. Acura is not currently providing any sort of lease support on the TSX. As a result, if you were to lease one through Honda Finance right now, you would have to use its standard lease money factors. Its current 36 month buy rate lease money factor is .00275 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. This money factor is equivalent to an interest rate of around 6.6%.

    Car_man
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  • Car Man,

    Are you able to get the August MF & Residual for a 10K, 36 Mo. lease on a 2006 TSX Auto w/o Nav?

    Thanks for your help!!
  • Hey Car Man

    Can you tell me what the Residual and MF are for August through Honda Finance for both a (3 year / 15k) and (4 yr / 12k lease). I am getting a 2006 TSX with Navi. Thanks!
  • This is without negotiations.

    MSRP - $28,505
    quoted price - $27,051

    48 months /10K miles/yr

    Residual given - 52%
    MF given - .00283

    Monthly payment: $373.26 + TTL
    Also, will have to give them first month, $595 bank fee & $375 Security on signing.

    I know its only 10K miles/yr, but the 52% residual is pretty good for 48 mos.

    Is this a good starting point?
  • Dear Car Man,

    I finally negotiated my price on a TSX with Navi and about 630 in accessories, that I got a half price. My final price is 28,200. While talking to the Finance Manager, he mentioned maybe I should lease and that his wife drives as many miles as I do, and she leases. Most rates quoted in the forum only go up to 15K per year. What kind of deal should I expect on this car driving between 25 and 30K per year? Thanks.
  • Hello Car man..or anyone else that can help me out!

    Here is what I was quoted before negotiation. Actual info from dealer: TSX WITH NAV. THIS IS WITH 2K DOWN

    We have full disclosure here at our dealership. Here is the information you requested,
    12K per year residual .60, money factor .00293

    10K per year, residual .61, money factor .00293

    The selling price is the price I quoted you originally, $27,695.00.
  • So I entered in the above figures into some lease calculators and got figures near $370/month for the 12k/year option. I was quoted a monthly payment of $398...what is the reason for the discrepancy? Hidden dealer profits in the making?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the info that you're looking for, vballny23. Honda Finance's current buy rate lease money factor for a 36 month lease if a 2006 Acura TSX without navigation with 10,000 miles per year are .00283 and 62%, respectively.

    Car_man
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    P.S. The above money factor assumes that you qualify for Honda Finance's "Super Preferred" credit tier and pay a security depsoit equivalent to your car's monthly payment rounded up to the nearest $25 increment at lease signing.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey tbenson81. Honda Finance's current 36 month, 15,000 mile per year buy rate lease money factor and residual value for the 2006 TSX with navigation are .00283 and 58%, respectively. The numbers for a 48 month lease of this car with only 12,000 miles per year should be .00283 and 50%. The aforementioned money factors assume that you qualify for Honda Finance's "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi again, vballny23. The money factor that you were quoted is right in line with Honda Finance's current buy rate for this car. The dealer invoice price for a 2006 Acura TSX without navigation is $26,051. The price that you were quoted is $1,000 over invoice. I am not personally all that familiar with what the market is like for this car right now, but I would shoot for $500 over invoice and see what happens. If you are in an area that has a decent level of competition and were able to get down to $1,000 over without any negotiation you may be able to get there. Make sure to stop by the following discussion to see how much other community members have paid for this car lately: "Acura TSX: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi canaanman. Wow, you drive 30,000 miles per year. That's a lot of miles. I probably wouldn't lease if I was in your situation. I personally would finance or pay cash for a car that gets good gas mileage and drive it into the ground. If you do decide that you want to lease a TSX through Honda Finance, you will have to purchase additional miles on a per-mile basis because 15,000 miles per year is the highest mileage allowance that it publishes residual values for. It is less expensive to purchase additional miles at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty. I'm not sure how much of a discount Honda Finance provides for miles purchased in advance though.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rsimpson5. Acura is not currently providing any sort of lease support on the 2006 TSX. As a result, if you were to lease one through Honda Finance right now you would have to use its standard lease program. Its current buy rate standard lease money factor for 36 month leases is .00283 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. This money factor would increase to the .00293 that you were quoted with a security deposit waiver.

    As far as this car's price goes, the dealer invoice price for an '06 TSX with navigation and an automatic transmission is $27,872. As you can see, the selling price that you were quoted is very attractive. This deal looks good to me. If you like the car, I personally don't see any reason not to pull the trigger.

    Car_man
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  • hecarahecara Posts: 35
    Hi Car_Man,
    I went to an Acura dealership in Texas yesterday and was quoted the following:
    $26,036 selling price
    $450 payment
    48 months, 12K miles per month
    No money down, I would have to make the first payment of $450
    I'm not sure of the residual or the money factor (I think it was .000438). I tried to call them before I sent the email, but no one answered.
    I need to know if I am getting a good deal or not. Please let me know if you need more information. I went by myself and of course they told me I was getting the deal of the century, but I need a second or third opinion.
    Any help would be greatly appreciated :-)
  • NewB here.
    I have compiled the following data based on my discussion with a dealer and several posts on this forum. I am going to ask for the following offer. Is this reasonable? I don't want to look way out of line here.

    Acura TSX without Navi - Automatic
    MSRP: 28590
    Negotiated price: 25400
    Capitalized cost (by rolling TTL/fees into payments): 27700
    Residual: 0.62
    Money factor: 0.00275
    Down payment: 0
    Security fee: 250
    At lease signup: 1st payment + security deposit = 682.69
    Mileage: 15000/yr
    Term: 36 months

    Payment comes out to : $432.69 including 8.25% sales tax.

    Please advise me. I will really really appreciate it.
    This is a great forum. Keep up the good work.
    Thanks.
  • :confuse:

    Carman - Here's my info, how do I check that the monthly payment quoted is correct. NJ resident, 7% Tax.

    2006 Acura TSX with Nav

    Price = $28,700 (includes dest)
    money factor = .00283
    residual = 60%
    36 months, 12,000 miles
    down payment = $2,312

    monthly payment = $441 includes 7% sales tax
  • Carman et all,

    About to start looking for a TSX with nav. Can you give me a spreadsheet where I can find out a payment? Also what should I start with as far as negotiations on a 2006 TSX Navi...0 down..36 month lease...15k miles...TTL included in payment??? :confuse:
  • kman12kman12 Posts: 6
    I'm close to completing a deal on leasing an '06 TSX, 6spd man., no nav. The dealer has offered to take over my prior lease (balloon with 2 mos remaining) on my '04 TSX, 6spd man, no nav). With $1100 up front my mo. pay would be $440 for 3 yr, 36K miles. They would throw in the mud guards for free if I pay for the door edge guards ($160). I live in NYS. Do you think this is a good deal. I got one other quote for $465.
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