2013 and earlier-Acura RDX Lease Questions

CarMan@Edmunds

Hi everyone. Please use the following discussion to post any questions that you have about leasing an Acura RDX. Thanks.

Car_man
Host
Prices Paid Forum

bbydad

Car_man -
to get the ball rolling -- do you know where I can find lease terms for the RDX? Do you have experience in how a manufacturer would go about estimating residuals on a car that is brand new? Do they tend to overestimate or underestimate the residual? I'm getting the sense that you may not get the best lease deals on a car model that just hit the lot, at least compared with paying cash.
any thoughts would be welcome.

gofitguy

There's a lease incentive on the Acura site for $399x36 on the base vehicle. If I recall correctly, there's about $4500 down to get that price plus tax & the usual stuff involved. The dealers I've visited don't acknowledge the deal at all as maybe it involves a discount from list on their part. I'd love to hear what the money factor & going residual rate is from the factory if anyone can get that info.

rmse46

$37,165 msrp
57% residual
21,184
money factor .00293
$645 monthly payment

$33,665
60% residual
$20,199
money factor .00293
$559 monthly payment (from memory)

these payments include 5$ MA tax.

gofitguy

rmse46 - Thanks for the help. I spoke to the dealer today & he said the residual on 36 months is 62% & 51% on 48 months. This is in IL. I hope this info helps everyone shop for the best deal. Note that the invoice price is now available here on Edmunds.com, too.

bbydad

Hi rmse -
as a leasing expert, what is your opinion of these lease terms, especially when compared to other vehicles. i get the sense that they are very high compared with BMW. are you still thinking about an RDX?

rmse46

Leasing Expert? Good question.
I am a financial planner by trade and I have leased a number of vehicles over the years. The last several have been through BMW financial services. My last lease was a re-lease of a my 2001 330i. The numbers were so compelling that it made financial sense to keep the car. This car is almost 6 years old and 75K miles, I am ready for a change. FYI, anyone interested in this car, there is an awesome deal available.

Anyway, the RDX lease terms are horrible compared to BMW. So far the money factor on Acura is high about a 7.03%. You need to keep in mind that with leasing your are financing 100% of the capitalized cost and paying it down to the residual value.

With BMW, the money factor (interest rate) is lower and because residual is based on MSRP and most of us can purchase for less than MSRP, the leasing numbers look better.

In many respects, you will be able to lease the more expensive BMW for less than the RDX.

I really like the RDX but I have have a hard time paying the MSRP and money factor. My lease is not up until March, so I have time but like many of you, I have been following the development of this car for almost a year.
Rick

rmse46

I ran the numbers and they are not different than the lease factors that I quoted already.

The only difference is that my numbers assume 15k annual miles.
Rick

bbydad

Hey Rick
that's what I thought. the money factor looks steep. I heard that's historically been a problem with Acura -- they just don't get aggressive with their lease rates, so they lose out consistently to BMW for those who look to lease. I wonder why that is there strategy. You would think that if they truly want to compete with BMW for the sport luxury segement, they would make their leasing terms more attractive, even if it is a new model.

CarMan@Edmunds

Hi bbydad. I can give you an idea of what this model's residual values are currently like. It is difficult to say how Honda Finance comes up with their residual values. They probably base them upon the residuals that are estimated by a company called ALG (Automotive Lease Guide). ALG is an independent company that estimates residual values for every vehicle sold in the U.S. How ALG arrives at the residuals that it publishes is a good question. They have a large database of vehicles' residual values and how much they actually ended up being worth in real life. They probably picked a similar vehicle as a baseline for the RDX's residual values, such as the MDX when it first came out, and then adjusted the residuals based upon how well they believe this model will be received by the general public. Anyhow, let's take a look at this truck's actual lease program. Not surprisingly, Honda Finance is not currently providing any sort of lease support on the RDX. As a result, if you were to lease one through it right now you would have to use its standard lease program. Honda Finance's buy rate standard lease money factor is currently .00283 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Its 36 month, 15,000 mile per year residual value for a 2007 RDX (not the Tech version) is a very solid 60%.

Car_man
Host
Prices Paid Forum

bbydad

Thanks Car_man. Correct me if I'm wrong, but the money factor seems high to me, at least when compared to other car makers? Do you happen to know the residual for a tech version? I seem to think I heard on one of the boards that it was less than 60%. Is that typical for a version with more options to have a lower residual? Thanks

deserth8r

Hi Car Man,
I was wondering if you had residuals for a 24mo/24k lease. I am assuming the money factor would be the same. This is for the tech package.

Thank you

CarMan@Edmunds

You're welcome, bbydad. You're right, the RDX's money factor is pretty high right now. As is typical with a brand new model, Acura is not currently providing any sort of lease support on the RDX. I don't expect it to introduce any on this model any time in the near future either. In answer to your question about the RDX Tech model, its residual values are 3% lower than the non-Tech model's residuals. Vehicles that are loaded up with options, like the Tech package, often tend to have lower residual values than base vehicles.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Here's the information that you're looking for, deserth8r. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Acura RDX without the Technology Package leased with 12,000 miles per year are .00388 and 67%, respectively. This truck's 36 month lease program is more attractive at .00283 and 62%.

Car_man
Host
Prices Paid Forum

bellorusha

This is price for Brooklyn, NY

Base Model - $399 per month and $1495 down
Tech pack - $499 per month and $1495 down

c_hunter

From Acura's website:

"MSRP $33,665.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $30,205.46. "

Make sure you take this into account -- I think all the previous posts are basing the selling price on MSRP.

bellorusha

this month they raised the prices

Base Model - $399 per month and $4495 down
Tech pack - $499 per month and $4495 down

i think next month they will lower it back wich makes no sense.

spicytuna

Any news on November's money factor and residuals for a 2 or 3 year lease with 12000 miles?? Thanks.

drtravel

Do you know what their acquisition fee is?

Thanks

wmdavis1

I've never leased before as I tend to keep vehicles for 6 to 8 years, so I don't know all the ins and outs. Without getting too technical, I was wondering if the new lease deal being offered (actually, looks like a continuation of same deal from October) is a good idea or not. With destination charge and options I would like, I'm looking at an MSRP of about $35K.

drtravel

Got an e-mail from So Cal dealer - base model $399 per month for 36 months with $2699 drive off. Of course she left out any details as to how they got this number.

c_hunter

Why not check the acura website??

--

FEATURED SPECIAL LEASE: Closed-end lease for 2007 RDX Automatic Transmission (Model TB1827JNW) for $399.00 per month for 36 months with a $1,705.00 capitalized cost reduction available to customers who qualify for the AHFC super preferred credit tier. Other rates/tiers are available under this offer. $2,699.00 total due at lease signing (includes first month's payment, security deposit, acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like. Security deposit waived in lease example. Not all buyers may qualify.

Subject to limited availability. Through January 2, 2007, to approved lessees by American Honda Finance Corporation. Closed end lease for 2007 RDX Automatic Transmission (Model TB1827JNW). For well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $33,665.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $30,951.45. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $14,364.00. Option to purchase at lease end $20,535.65. Lessee responsible for maintenance, excessive wear/tear and 15¢/mi. over 10,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20¢/mi. over 10,000 miles/year. See dealer for complete details.

drtravel

Duh, checked the Acura website for further info. 20 cents a mile for overage!!

Anyhow this is the lease deal I proposed to the dealer:

Here's the info I dug up: For October for 36mo/36K miles lease, the residual of a base RDX is 62% with a money factor of 0.0028. The SUV has a MSRP of $33,665 with an invoice of $30,774. The deal I'm looking for is for the capital cost to be $31,274 (with no capital cost reduction money from me). The SUV has a residual value of $20,872.30 so the monthly payment works out to be $434.95 + tax. Money due at signing is the first month's payment plus the $595 acquisition fee. If the November residuals and money factor change I'll have to update my calculations.

I'll let you know what the dealer says

kyfdx

That is typical for a Honda or Acura advertised lease.. It assumes a dealer discount of $1000 from MSRP..

c_hunter

The new deal has a lower residual (61% versus the old 63%). I came up with 0.00246 for the previous MF, but it's 0.00213 now (because they held other terms the same, including $399 payment, with the new lower residual).

It's not a super great lease deal -- I believe you can find lower interest rates by financing. The equivalent lease APR works out to 5.1% (was 5.9% in October).

klutzie

Hello everyone, I'm new to this forum...and i just got a quote from my local dealer in Brooklyn for the 2007 RDX with the tech package. The MSRP is $37,435, they are giving me a lease price of $554 tax in lease for 36 months with 12k miles/year...first month and bank fee due at lease signing ($1500). They claim that the only reason they can give me this "great' of a deal because we have the MDX on lease at this time. I was wondering if this is an alright deal or should i continue shopping around?
Thanks a lot in advance for all your help!

p.s. The lease price for the car without the tech package with the same terms is $450...i thought that was alright.

thanks again

creativeguy

That is high. I was offered $399 down, $499 per month +tax for 12k, 36 months.

But that was last week when the going rate was $2000 off MSRP. Now dealers are quoting $2500 off MSRP, but I haven't noticed an increase in sales in my area. If you wait a bit, Acura will most likely sweeten the deals to move inventory.

jakpenn

Car man
do you know what the residual and money factor is on the 2007 RDX 36, mos. 12K miles? Thanks

reitdude

c_hunter is correct - it's six of one vs. half dozen of another. A 61% residual with a 5.11% APR is equivalent to a 63% residual with a 5.90% APR.

Here are the lease offers in NJ I received via the Internet salespeople. All are for the base model with only 10k miles/year and include tax:

- Acura of Denville $481/month - includes $911 in inception fees
- Ryan's Open Road Acura in E. Brunswick $499/month - no other details
- Springfield Acura $472/month - no other details
- Montclair Acura no lease price, just "Pricing is set at $32,915.00 and $36,665.00 for the Tech Package"

These are pretty mediocre numbers. I’d wait until there’s a real lease deal

CarMan@Edmunds

Hi spicytuna. Honda Finance's current 24 month, 12,000 mile per year buy rate lease money factor and residual value for a base 2007 RDX are .00213 and 65%, respectively. The numbers for an otherwise identical 36 month lease are .00213 and 60%.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Drtravel, Honda Finance charges a $595 acquisition fee on every vehicle that it leases. You can either pay this charge at lease signing or roll it into your vehicle's capitalized cost.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Hi wmdavis1. Acura is currently providing a little lease support on the RDX. Its special money factor for this model, .00213, is equivalent to an interest rate of around 5.1%. This isn't amazing, but it is better than the money factor that was available on this model last month. The advertised lease for this truck isn't bad, but you probably will be able to negotiate a larger discount than the one that was used to arrive at the advertised payment.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Hi klutzie. You never mentioned the selling price of the RDX 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 truck 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
Host
Prices Paid Forum

CarMan@Edmunds

Here's the info that you're looking for, jakpenn. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Acura RDX with 12,000 miles per year are .00213 and 58%, respectively.

Car_man
Host
Prices Paid Forum

hstu

Carman, This is my first post, which may appear evident. I am in S.C and was just offered this on a RDX w/Tech with Sticker of $37,165 + Protection Pkg? $375. The dealer said would offer $500 over invoice which he said is 33,960.14. Cap Cost 34,460.14 36 Month Lease, 15k yr. No Sec Dep.but the service charge and acquisition fee rolled into lease, Mthly PYMT of $530.10. I would pay at lease signing $855.10 which is first month's pymt and Tax, Title and License. Residual 55%, money factor supposedly .00213, residual 20,400. I think I have all of this right. Is this a good deal, or should I wait until after 12/4, do you think it could look any better then? There are plenty on the lot. Would prefer MDX, but too expensive....

topgun7

hstu, your number look very much inline with Car_man's post just right in front of yours (money factor and residual for tech package which is normally 2-3% lower than non-tech package). So if you are waiting, you are really waiting for either (1) the dealer lower the price (no charge of the protection package or even closer to invoice) or (2) wait for Acura to lower the money factor since RDX is not moving well. Personally I would wait for year end (try after Christmas but before new year) where dealer are more desperate to move inventory. May be you can get to invoice with the protection package throw in which should make your monthly payment go do to between 500 to 510 a month. The money factor thing is anyone's guess. But Car_man probably can find out the Dec number soon...

hstu

Thank you for your response. Of course the dealer said that they couldn't imagine the deal being any better after today, Dec. 4th when current offer ends. Mentioned something about subrograted offer ? Can't remember the term he used. Saying that it was just such a good lease program that he couldn't see it being any better. Of course what do I expect for him to say. I am going to wait a bit, with the amount of these cars on the lots, it is hard to imagine the deal not getting a little sweeter. Plus, I don't have a problem waiting.....Thanks again for your response...It's all about saving a dollar ya know....

c_hunter

It's not a good lease program -- the money factor is too high. They are offering 3.9% financing over 3 years, which makes more sense. That would be the incentive to take, not the lease.

monkstermann

Hi there Carman and Kyfdx. Here's a scenario for you. Got two internet quotes for RDX with Tech pkg of $34,499 and $34,560 from two dealerships in the SoCal desert area.
In the initial post from Edmunds "request a quote" I did mention I might want to lease. So here's the dilemma. Currently have 05 Jag Type S with 40K (paying around $600 month) on it and another year or so on the lease. There's about a $10k early buy out figure if I remember correctly from about two months ago when we were looking @ Rav4 (didn't like). So how does one proceed towards moving on the RDX - I know payment will be higher than what they would normally be - in order to get them to take the Jag? (If I could get the payment to be the same I'd do it I think.) Secondly, how do I know if it's a decent deal? Or is this not a good idea in the first place?
Many thanks for a wonderfully informative site. There's a reason you guys are #1!!!

Monk

potato1

Hi Carman and Kyfdx and thanks in advance for your insight. I want to lease a RDX (no tech). I also know i need 18k miles a year. I am looking at a 36month lease with little to no money down. I have gotten only one response thus far and its for $530 a month which seems way too much? I want to get into the $400 per month. Am I asking for too much? Would waiting till last week of the year make a difference?

topgun7

We terminated lease early on several Lexus. First we called the Lexus financial to find out the buy out value. Then, we took the car to multiple Lexus dealerships and find out how much they want to pay for the car. And we pay the difference between the payoff amount from Lexus and what the dealer is willing to pay. In our last Lexus, we traded it for a Mercedes and rolled the difference into our payment for the Mecedes. The process is the same, except we have less leverage (since no one else is bidding on the car). It depend how upside down you are. In some case, if it is too severe, the manufacturer may not approve to roll all the difference into the new lease (e.g. The new car MSRP is 35000, negiotiated cap cost is 32000, but someone is 10,000 upside down on the old car. In this case, the manufacturer probably won't allow rolling the full 10,000 difference into the new lease since they are running the risk that if the car is repossed, they may not be able to recover the full amount). Good luck...

monkstermann

Thanks topgun7, that makes sense! I was trying to determine the best way to approach the issue and now I know.

CarMan@Edmunds

Welcome hstu. $500 over invoice is a good price for this truck. You shouldn't pay for the "Protection Package" though. It isn't really necessary. Dealers just use packages like this to add additional profit to deals. The money factor that you were quoted for this model is right in line with Honda Finance's current buy rate for it. This is a good thing because it means that the dealer is not trying to mark your vehicle's money factor up to add additional hidden profit to your deal. So the bottom line is that $500 over invoice is a good price and the money factor is right. I'd be happy to calculate a lease payment on this truck for you that you can compare to what the dealer is quoting you, but in order for me to do so I need you to provide me with this truck's full MSRP.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Hi Monk. I'm glad that you find this site so informative. Unfortunately, it is going to be fairly expensive for you to get out of your Jaguar lease so early. You would be much better off waiting until you are closer to the scheduled end of your current lease to get a new vehicle. If you can't wait, you will have to get the dealer that you get your RDX from to purchase your Jag through the bank that you are leasing through. Chances are it is going to cost thousands of dollars more to purchase than the dealer you are working with will be willing to give you for it. You are going to either have to pay the money that you are upside down on your current lease out of your own pocket or roll it into your new lease. The 2007 Acura RDX with the Tech package has a spread of around $3,200 between its full MSRP and dealer invoice price plus the dealer is going to want to make some money on it, so let's say that you have around $2,500 to play with. If it is going to cost you more than $2,500 to get out of your current lease you are going to have to pay that money out of your own pocket, plus pay more per month for your RDX than you should. The bottom line is I personally would wait until I was closer to the end of my lease to get something new.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Greetings potato1. I would be happy to give you an idea of what the RDX that you are interested in will cost to lease right now. In order for me to do so I need you to provide me with its full MSRP and approximate selling price. You can look up its MSRP in the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get an idea of how much you will have to pay for this truck right now by visiting the following discussion: "Acura RDX: Prices Paid & Buying Experience". Let me know what these numbers are and I will use Acura's current lease program to estimate what this vehicle's monthly payment should be.

Car_man
Host
Prices Paid Forum

pittpanther

Hello all - thanks a bunch for all of the great information. Just to confirm, is the current AHFC money factor on a 36 month RDX lease 0.00213 (with a residual of 60%)?

Thanks!

pittpanther

I am being told by one local dealer that the residual for a 36 month lease is 57% (as opposed to 60%) through AHFC. Is this correct? Thanks again!

potato1

ThanKs for your help. An RDX w/o tech package has a MSRP of $32,975 and a selling price right now of around $30,550 in chicagoland which I don't mind traveling to o get the deal. Milwaukee dealers don't deal. If I want an 36 month lease with 18K miles per year what would a good deal look like? I've heard with the low financing rates they aren't really set up to lease- just to buy. Any thoughts?
This forum is SO valuable-THANKS!

mftmrt

What is the current rate for RDX with tech, 36 mo / 10K miles? I was quoted .00146 & 56% and assured that this did not reflect a markup over Honda Lease Co's rates. Is that right?

mftmrt

Hearing nothing to the contrary here, I went for the deal with the above rates and a price slightly under invoice. I verified my good deal the old-fashioned way: I proposed the same deal to two other dealers who let me walk.

mcb00

I have been offered a similar deal. Details are as follows:
$400/month, 3 years/30,000 miles
$2950 due at signing (1st month pmt, all taxes & fees incl.)
.00146 MF, 59% residual, selling price $32,500 (base model)
How does this sound? I have a feeling that the longer I wait, it can only get better.