Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
In short, the best way to get a good deal on a lease is to negotiate as low a selling price as possible on the vehicle that you are interested in and then have the dealer that you are working with calculate its monthly payment using its buy rate lease money factor. Honda Finance's current buy rate for a 36 month lease of a 2007 TSX is .00110. I am not familiar with what the inventory situation is like in the Los Angeles area for the Acura TSX right now, but I suspect that you won't have much trouble getting one for around $500 over invoice.
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
In your post you mentioned possibly making a $6,000 to $8,000 down payment on your lease. This definitely is not a good idea. I always advise consumers against making large down payments on leased vehicles. Those who do, risk losing all or part of them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off leasing this car with no cap cost reduction. In fact, down payments have no impact upon the the end of term purchase prices of leased vehicles. Vehicles' purchase option prices are based upon a straight percentage of their full MSRPs.
The selling prices of leased vehicles are indeed negotiable. Shop around for the lowest possible selling price on the TSX that you want and then have the dealer that you're working with calculate its monthly payment using its buy rate lease money factor.
Gap insurance covers the difference between the amount that you owe on your lease and the amount that your insurance company will pay on it if it is totaled in an accident. It is a good idea to have gap insurance when leasing. Honda Finance leases automatically include gap insurance at no additional cost.
The lower your vehicle's mileage allowance is, the lower your monthly payment will be. It would probably be in your best interest to lease with the mileage allowance that you believe you will actually need. That way you won't be forced to pay a huge excess mileage penalty at the end of your lease if you decide not to purchase your vehicle because you are sick of it, don't like it, have problems with it, etc...
Car_man
Host
Prices Paid Forum
selling price $26,200, could you spell out other variables, and I will take it to the dealer. thx
------------------------
acquisition fee $595
cap cost $26,295
residual $17,256
money factor .00110
monthly payment $298.99 plus tax
Thanks!
Also, I got the impression that some/all Acura leases through Honda Finance are not transferable (i.e. you couldn't sell/trade the lease on one of the lease trade sites if you needed a different car, moved to the moon etc.). Is this true?
Thanks for the help, this forum has been a great resource.
new to this so please excuse any mistakes, errors etc.
Live in LA where I have been going back and through with several Acura dealers for 07 MDX/tech and MDX/sport as I am still not 100% sure on which I wish to lease.
Best price I have been given is:
MDX/Tech $40600.00 (MSRP is $44165.00, invoice is $40103.00)
and
MDX/Sport $42500.00 (MSRP is $46265.00, invoice is $42004.00)
(Dealer is Acura 101 West, Calabases, CA)
I want to get payment down below $600 per month (including local sales tax of 8.25%) for lease-36months, 10K miles per year with max drive off of $2500.00. Dealer that quoted this to me is saying this is not possible even with the large discount off MSRP (more than $4000.00) because of high money factor rate and residual value.
Looked at similar equip Lexus (sticker of about $47000.00) with payment of less than $500.00 per month including tax for 36mo. with drive off of $2500.00
Understand that Lexus lease is at lower money factor and probably higher residual value therefore making the Lexus payment better but really want the MDX.
Am I looking for something not possible now with Acura money factor rates and residuals? Really do not want to have more than $2500.00 drive off (which I am sure includes some cap reduction-which I have read on your site- is not a smart idea).
Do you know of any leases on MDX that are under or close to max of $600/month with discounts of $4000.00??
Thanks in advance for your help.
selling price $26,200
acquisition fee $595
cap cost $26,795
residual $17,256 (36mo/12k mi/yr)
money factor .00110 (AHFC Super Preferred credit tier)
monthly payment $313.43 plus tax
due on delivery: tags, title, dealer doc fees and first month's payment
Note also that even tho AHFC mentions a security deposit in the upfront $$ when advertising the "lease special", they always state further down in the fine print: "Security deposit waived in lease example."
From the AHFC lease agreement: "I agree not to transfer, sublease, rent, or assign this Lease, the Vehicle or my right to use the Vehicle."
selling price $40,600
acquisition fee $595
cap cost $41,195
residual $26,057.35 (59% of $44,165 for a 36mo/10k mi/yr term)
money factor .00270
monthly payment $602.07 plus tax
$$ upfront: tags, title, dealer document fee (approx $55), and first month's payment - approx. $1000
Now then, let's do a cap reduction of $1400 (plus tax) - so you'd be putting approx. $2500 upfront: same numbers as above except now we've reduced the cap cost to $39,795
monthly payment $559.40 plus 8.25% tax for a total monthly payment of $605.55
And there you are!
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
$500 Cash to Dealer start: 05/01/2007 end: 07/02/2007
Restrictions: Eligible vehicles sold utilizing this program do not qualify for: "2007 TSX Regional Special AHFC Lease" or 2007 TSX Regional Special APR".
Comments: Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement.
The dealers in my area have very few base TSXs (no navi) in stock. I know that one is getting in another shipment of 2007 and I suspect the others will as well. With that background, do you think I have any room to negotiate w/ these numbers?
15k miles/year
36 mos
26,951 sale price + 595 acq. fee (371 monthly payment w/ sales tax)
about 825 up front costs, including conveyance fee (299), first month, registration (155).
Money factor - .00110
Residual - 16,680
Alternatively, do you think the prices for the 2008 will differ all that significantly?
Thanks!
Per many, many posts . . . get several email quotes, shoot for a selling price $300-500 below invoice, pay only tags, title, dealer document fee and first month's payment upfront.
Take a look at message #3249 in the Prices Paid forum: $25,700 on a lease deal. Prices do differ from market to market . . . but this shows there are deals out there - don't let your local dealer b***s*** you.
Looks like your lease numbers are correct, so the only room to negotiate is on the selling price. Do you have quotes from more than one dealer? Perhaps extending your "quote range" into the NYC or Boston area would give you more leverage?
Good luck!
Acura TSX Leas Deal with early termination of current lease
07 TSX with Navi
MSRP 30,760
Selling Price 28,187
Redidual 57%
Money Factor .00011
Payment $444.60 plus tax
They offer me 12k on my current car wich has a payoff of 13400. Remember this is a current lease.
Roll 1400 into new deal. What else are they rolling into the deal? I would think they are rolling the remaining payments of around 2500 into the deal to get this payment as it doesn't add up with just adding $1400 to the $28,187 selling price
Anyone think I can negotiate more for my trade and also a bit lower on the selling price. I'm asking the dealer what else they are adding to the deal to make the payment that high. I should be paying in the high 300's plus tax maybe lower 400's payment?
Any input would be appreciated.
Thanks!
Looks like about $40/mo. too much... Is $13,400 the residual at the end of term, or the current payoff?
Have you thought about a non-NAV? Generally, $30-$40 less per month, all else being equal. (not that it has anything to do with their numbers being off).
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
The payoff from AHF is 13,400 for my Accord. They originally said that they would give me 11k and take it in as a trade, then I got them to give me 12k for it. This will leave $1400 negative on the Accord. I don't think that they are off too much as they want to move the remaining 07's but I think they are about $50 too much and I want to know where that is. Do you think low 400's plus tax is good with navi in my situation? Maybe I can get them to give me another $500 towards my trade and maybe go down a few hundred more on selling price of the TSX. Yes, without navi it will be lower but the navi is soooooo sweet. BTW: 15 miles a year on the TSX Lease Offer.
Thanks again.
07 TSX with Navi
Sale Price 28,300
MSRP 30,760
Redidual 57% = 17,533.20
Money Factor =.00110
36 Month and 15,000 mi
$0 Down
Payment 404.00 a month
Like i said I have the current lease that I'm in with 8 months to go. I will be over miles in a few months so I'll owe probably close to $1k in over mileage fees and I'm past warranty also. I only pay 322.00 a month now for current car (accord)
Their deal is 444.60 a month with paying off my accord and haveing $1400 negative equity.
I think I can work them a bit to get the deal to work. They have black/black with navi/auto.
I've been trying to figure all this out the last couple of weeks.
Ya think I can work this down closer to $400 a month? This is with $0 down.
Thanks again.
You are apart about an extra $1400 right now... I'd want to know why that is.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Is the 800 fee something that you would pay aside from the 595 acq fee? Remember this would be a $0 down deal. You and I both know that Accord holds a good value and they are almost on with the trade value. I think I can squeeze them for another 250-500 on trade. What about that fee of 895? Are they BS'ing me? In the 800+ fee are they including my first month's payment. He said there are State of Florida taxes and such.
Thanks again I really appreciate this info.
I have a little bit left that I am allowed to give you before I have to call the
cops when you come in for delivery for stealing a car!
The lease is 0 down and $436.52 plus tax, trading in your car.
Please let me know if you can make it in today to finish things up.
This is again with the negative equity figured in at 1400 plust acq fee, plus the 800 fee that I don't know is too much?
Florida dealers are famous for "dealer fees" and "document fees". Which basically equate to "additional dealer profit, disguised as a government fee.
I think what you have is the dealer adding about $1000 in extra costs, over and above their "selling" price.
The $1400 negative equity in your Civic isn't the biggest problem.. It is the dealer obscuring the true cost of leasing their car. This is no deal.
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
The $895 fee is just padding..
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
They are sneaky and they try to get you on anything you can even if you are savvy. I'll make him sweat it out and if he doesn't budge I'll walk away from the deal. They are not losing money on this deal even at 415 plus tax. I'm not lining their pockets with padded fees. I will ofer $500 down,ask for $500 more towards my trade, and another $200 off of selling price. They could have a deal with about 20 more bucks less a month. Oh well. Overall, you don't think it's a bad deal at 415 plus tax with my trade, correct? BTW: it's an 05 Honda Accord LX on the trade in car.
As long as you consider the trade-in value fair, and are happy with it, then the $415/mo.+tax seems okay.
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
805.15 is startup fees including the first month payment with tax 464.89
203.00 license fee
2 bucks Lemon law book
60 Rent surcharge
6.50 tire fee
24.00 electronic filing fee
And there was one more but he was talking fast. Wow how about the fast talker thing..haha
So there is a dealer fee of 598.50 plus acq fee of 595.00.
The actual sales price is 27,914.82 plus the 805.15 which brings it to 28,720.
So basically he said the cost of the car out the door is $31,313.50 with the 595 acg, 1400 neg equity, and the 598.50 dealer fee. These figures are added to the 28,720 selling price which comes to $31,313.50.
They are trying to get more for my trade now. I got them to call around. They want the deal. I think 415 plus tax is decent with my situation with ending a lease term 8 month early.
Lets see if they can get me there.
I'm sure it will require me putting something down though.
Lease
36 months
12k a year
$ 305 a month
$ 1900 total out of pocket
what do you think about this deal??
The $595 acquisition fee goes to the bank.. the dealer doesn't get any part of that.
Good luck!
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
The selling price out the door after my trade in and all fees was 30,100. Remember they add the dealer fee, acq fee, and rolled in 900 from the early term on my accord. They did say if I put 764 down at signing my payment would be 395+ tax I ended up putting 500 down and my payment went to 403 plus tax. Overall not bad as I had an early termination of a lease that had 8 months to go as well as going to be over mileage by at least 5k miles by the time that my lease ended. They actually had selling price to start at 27,914 so I if bought it I would have had a price of 29,728 with tax and then the dealer fee of 598.50.
Thanks for your input. Now to drive the black beauty.
Overal it's an entry into the Acura world. There are others out there as we know but if you are looking to upgrade from Honda or Toyota Acura is a good stepping stone into the luxury car world.
What is the reason to want to get out of the 06 Accord so fast? Is it a lease or did you purchase?
If you are leasing then it's not a good thing to get out too soon. I looked last year at this time and the payoff was way too high and uneven as well as the lease was not as attractive for the TSX. Maybe you are just not totally happy with the Accord style compared to the TSX. Yes, it's the Euro Accord but the styling is definitely more sporty. I think the 2009 TSX will be totally remade in appearance and some options. If you are going for the 07 TSX you better get going soon as the rates will change and the 08's will be out and the deals will not be as good. First, you should consider what might happen if you get out of the 06 accord too soon. If you purchased then you can more than likely sell it for near what you owe. The problem is nowadays is that there are too many choices and there are always lots of changes with cars year to year. Decisions Decisions
To test the market, I approached a different dealer with what I thought were reasonably lower numbers than the quote I had from the original dealer. I was given significant attitude by the other dealer when I proposed figures based on about a 26,200 sale price (assuming the guy understood my numbers, which were as follows: $360/month w/ sales tax $1000 due upfront (which includes registration, conveyance, and first month's payment)).
I would normally think that $200-300 over invoice is a fair price, but based on the numbers you all are coming up with I am not so sure. Reassurance anyone? Suggestions?
You've done your homework on researching various deals - and it's pretty clear that where you live/shop makes a major difference. Two points:
1) Probably the best way to know what the real pricing in your area is - get email quotes from as many different dealers as you can.
2) There is $300 factory-to-dealer cash available with the special lease deal. (I'm assuming you're in one of the regions where the special lease is available.) If a dealer has a reasonable number of cars in stock, a deal at or well-below invoice should be possible. There are stubborn dealers - and apparently there are regions where all the dealers have managed to maintain pricing at a high level. If you've really sussed out the competition and believe a certain price is what you're going to have to pay to buy a car in your area you have two choices: 1) make the deal and enjoy your car (you got the best deal possible in your area); 2) shop outside your area.
Questions: What state are you in? How much is "conveyance" and exactly what does it include?
I can only get two out of four area dealers to give me pricing over the internet and I haven't had the energy to deal with an in person fight yet with the non-internet dealers. I think that really is the next step at this point. I did visit one of the internet dealers, but they wouldn't budge off their quote that day even though I was willing to put down a deposit if they would.
The original two prices that I got are around $550 apart w/ destination (26,950 v. 27,400), but are a little closer if I can get the higher one to eliminate the extra options I didn't want on there in the first place.
Conveyance for dealers is $299/359 respectively, which I know is simply profit for the dealer as I pay registration separately. Inventory definitely is an issue, since I am essentially negotiating for cars that haven't arrive on their lot yet; although I would think that they would be happy to have sold a car before it even hits their lot. The one that seems to have the biggest inventory arriving (different dealer than those that provided me quotes) is actually the one with the biggest attitude, which seems odd given the 2008 arriving soon. The other dealers all have about 1-3 non-navis in stock, with a few more expected in the next shipment.
Oh well, I am sort of losing interest at this point, which is kind of good since the next step is to go to the uncooperative places in person with my proposal. I'll raise the factory to dealer incentive and see what happens.
Thanks.