MF, RV, Credits for 2018 & 2019 Acura TLX Tech/Adv V6

canesmackercanesmacker Member Posts: 38
edited September 2019 in Acura
Hi, new to the board and first post.
What is the Money Factor, Residual Value, credits on a 2018 & 2019 Acura TLX Tech/Adv V6 on zip code 33027 and 10552. 15k/36 months

Also, I noticed that the 2018 model has three different Packages:
1. Tech
2. A-Spec
3. Adv

Can each Package be ordered separately on its own or if Adv is chosen one would also have to purchase the Tech?

Thank you.
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Answers

  • canesmackercanesmacker Member Posts: 38
    edited September 2019
    Thanks for the 2019 numbers - much appreciated.
    I apologize - I did not clarify that I am looking to lease the 2019 not purchase. I assume that changes the numbers provided?

    Why are there no lease programs for 2018 models? Is it too late in the year or dealers just don't lease the previous year models due to RV issues?
  • canesmackercanesmacker Member Posts: 38
    edited September 2019
    Also, that $9400 incentive is quite high. Is that a good number for Westchester County, NY?

    What is the MF, RV, incentive for 10k/36?
  • canesmackercanesmacker Member Posts: 38
    edited September 2019
    So this is what I have for a 2019 TLX V6 Adv & Tech - 10k/36:
    1. No money down. However, must pay upfront BF & LM.
    2. MSRP = $46,945
    3. FI (Factory Invoice) = $43,310 + DF + AF = $44,605
    4. DF (Destination Fee) = $995
    5. AF (Advertising Fee) = $300
    6. DI (Dealer Incentive) = $9,400
    7. SP (Selling Price) = FI - DI = $44,605 - $9400 = $34,665
    8. BF (Bank Fee) = $595
    9. LM (Last Month Lease Payment) = $500
    10. OP (Options) = $916
    11. Taxes - $904 or $25.11/month - for Broward County, FL.
    12. Capitalized Cost (CC) = SP + OP + Taxes = $34,665 + $916 + $904 = $36,485
    13. Residual Value (RV) = MSRP * RV = $46,945 * .47 = $22,064
    14. Total Depreciation (TD) = CC-RV = $36.485-$22,064 = $14,421
    15. Monthly Depreciation (MD) = TD/36M = $14,421/36 = $400.58
    16. Monthly Interest (MI) = (RV+TD)*MF = ($22,064+$14,421)*0.00215 = $78.44
    17. Pre-Tax Monthly Payment (PT) = MD+MI = $400.58 + $78.44 = $479.02 (since I capitalized the items in 12 above).
    18. So my monthly payment would be $479.02

    The Monthly Interest (MI) due to a MF of 0.00215 seems very high - is that correct?
  • MichaellMichaell ColoradoModerator Posts: 192,888

    So this is what I have for a 2019 TLX V6 Adv & Tech - 10k/36:
    1. No money down. However, must pay upfront BF & LM.
    2. MSRP = $46,945
    3. FI (Factory Invoice) = $43,310 + DF + AF = $44,605
    4. DF (Destination Fee) = $995
    5. AF (Advertising Fee) = $300
    6. DI (Dealer Incentive) = $9,400
    7. SP (Selling Price) = FI - DI = $44,605 - $9400 = $34,665
    8. BF (Bank Fee) = $595
    9. LM (Last Month Lease Payment) = $500
    10. OP (Options) = $916
    11. Taxes - $904 or $25.11/month - for Broward County, FL.
    12. Capitalized Cost (CC) = SP + OP + Taxes = $34,665 + $916 + $904 = $36,485
    13. Residual Value (RV) = MSRP * RV = $46,945 * .47 = $22,064
    14. Total Depreciation (TD) = CC-RV = $36.485-$22,064 = $14,421
    15. Monthly Depreciation (MD) = TD/36M = $14,421/36 = $400.58
    16. Monthly Interest (MI) = (RV+TD)*MF = ($22,064+$14,421)*0.00215 = $78.44
    17. Pre-Tax Monthly Payment (PT) = MD+MI = $400.58 + $78.44 = $479.02 (since I capitalized the items in 12 above).
    18. So my monthly payment would be $479.02

    The Monthly Interest (MI) due to a MF of 0.00215 seems very high - is that correct?

    Most of that is correct.

    The calculation on row 16 is wrong - it is the capitalized cost plus the residual value, multiplied by the MF ($125.88/mo)

    And, FL taxes the monthly payment - the $904 on line 11 is the tax on the incentives and fees. You also have to take the pre-tax monthly payment and multiply it by the tax rate.

    I get $563/mo, with tax included (7%?)

    The MF is high, but the $9400 in lease incentives is meant to offset that.

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  • canesmackercanesmacker Member Posts: 38
    Thanks again for the info.

    I've always used the following equation to determine the Monthly Interest - (RV+TD)*MF
    13. Residual Value (RV) = MSRP * RV = $46,945 * .47 = $22,064
    14. Total Depreciation (TD) = CC-RV = $36.485-$22,064 = $14,421

    Why does the Monthly Interest consist of the (Capitalized Costs + RV)*MF?
    What am I missing? Where can I find the source for these calculations and equations?

    Not doubting you as you have undoubtedly forgotten more than I'll ever know on this subject.
    Just curious.

    Also, $563/mo is too high. I'm leasing the same 2015 model, same options for $448/mo. What has contributed to the higher monthly payment between the 2015 & 2019 models? The data above is basically identical to what I calculated and the figures used for my 2015 TLX.

    In re to the 7% sales tax, I don't believe that is added to the monthly payment but rather paid upfront. Please confirm if that is indeed a possibility or a requirement to be baked into the monthly payment.

    Also, what's the MF, RV, incentive for the same 2020 trim?
  • MichaellMichaell ColoradoModerator Posts: 192,888

    Thanks again for the info.

    I've always used the following equation to determine the Monthly Interest - (RV+TD)*MF
    13. Residual Value (RV) = MSRP * RV = $46,945 * .47 = $22,064
    14. Total Depreciation (TD) = CC-RV = $36.485-$22,064 = $14,421

    Why does the Monthly Interest consist of the (Capitalized Costs + RV)*MF?
    What am I missing? Where can I find the source for these calculations and equations?

    Not doubting you as you have undoubtedly forgotten more than I'll ever know on this subject.
    Just curious.

    Also, $563/mo is too high. I'm leasing the same 2015 model, same options for $448/mo. What has contributed to the higher monthly payment between the 2015 & 2019 models? The data above is basically identical to what I calculated and the figures used for my 2015 TLX.

    In re to the 7% sales tax, I don't believe that is added to the monthly payment but rather paid upfront. Please confirm if that is indeed a possibility or a requirement to be baked into the monthly payment.

    Also, what's the MF, RV, incentive for the same 2020 trim?

    Use this link to help unravel the mysteries of lease payments:
    https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

    Whoops, you are correct about tax - for some reason, I thought you were in FL.

    NY taxes the sum of the payments, and collects that money up front. You can choose to add it into the monthly payment, but we don't recommend that in NY. If you do, you pay tax on the tax.

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  • canesmackercanesmacker Member Posts: 38
    So let me throw a twist in the equation. I live in NY but have the car registered in FL. How does that effect the tax and monthly payments? What are my options as i believe on 2015 TLX I obviously capitalized the $904 FL taxes but may have paid the ~8.875% NY sales tax upfront. I have to check my actual Lease Agreement to be sure.
  • canesmackercanesmacker Member Posts: 38
    edited September 2019
    Another question in re to the Capitalized Costs - what fees can actually be capitalized? I know for a fact I had to pay the Bank Fee, Security Deposit, Registration Fees and some other admin fees to walk out the door w/the car ~ $1500. The dealer would be double dipping if they also capitalized these fees - correct?

    Also, can the Dealer Incentive of $9400 be combined with the Loyalty Incentive of $1250? I'm assuming every things negotiable?
  • canesmackercanesmacker Member Posts: 38
    Ahhhh - that makes sense since my wifes leased 2016 RDX is taxed in NY as that's where it's registered and the lease payment is more than my 2015 TLX! NY taxes are terrible!
  • canesmackercanesmacker Member Posts: 38
    Also, can the Dealer Incentive of $9400 be combined with the Loyalty Incentive of $1250? I'm assuming every things negotiable?
  • canesmackercanesmacker Member Posts: 38
    On the Edmunds website, there's a Build & Price page that has the 2019 TLX V6 SH-AWD ADV w/an MSRP $45,950 + 995 = $46,945, Invoice of $43,610 + $995 Dest = $44,605 and a True Market Value (TMV) of $38,202. Would I use the TMV as my selling price? And then subtract the DI 9400 + 1250 Loyalty to obtain the Adjusted Capitalized Cost?
  • MichaellMichaell ColoradoModerator Posts: 192,888

    On the Edmunds website, there's a Build & Price page that has the 2019 TLX V6 SH-AWD ADV w/an MSRP $45,950 + 995 = $46,945, Invoice of $43,610 + $995 Dest = $44,605 and a True Market Value (TMV) of $38,202. Would I use the TMV as my selling price? And then subtract the DI 9400 + 1250 Loyalty to obtain the Adjusted Capitalized Cost?

    We don't know that the TMV includes or excludes any purchase incentives.

    But, can't hurt to try. Dealer can say no, and give you a counter offer.

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  • kyfdxkyfdx Moderator Posts: 197,420
    edited September 2019

    On the Edmunds website, there's a Build & Price page that has the 2019 TLX V6 SH-AWD ADV w/an MSRP $45,950 + 995 = $46,945, Invoice of $43,610 + $995 Dest = $44,605 and a True Market Value (TMV) of $38,202. Would I use the TMV as my selling price? And then subtract the DI 9400 + 1250 Loyalty to obtain the Adjusted Capitalized Cost?

    TMV likely includes a purchase incentive of $6000.

    That makes the delta between purchase/lease price of $3400

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  • canesmackercanesmacker Member Posts: 38
    So how does Edmunds come up w/a TMV of $38,202? What does the $38,202 consist of? How did they get from a Dealers Invoice of $44,605 to a TMV (Selling Price) of $38,202? I want to able explain to the dealer when he asks - because he will.

    What I'm still struggling with is how I get to 7 & 8 below - the final incentive value and the adjusted cap cost. Can you review my assumptions and calculations because $681.82/mo is too high. I mean I don't believe there's any way I'm getting the car for $38,202 - maybe $40k-42 range but who knows because I will ask for $38.2.

    1. Sticker price (MSRP) of the car $45,950 + $995 = $46,945
    2. Times the residual value percentage (RV%) = 0.47
    3. Equals the residual value (RV) = $22,064
    4. Negotiated selling price of car = $38,202
    5. Add in fees OPT + Admin + Taxes + BF + Sec Dep:
    $914 + 350 + 904 + 595 + 500 = $3263
    6. Add lines 4 and 5 to get gross capitalized cost = $41,465
    7. Subtract your down payment and rebates:
    Dealer Incentive $9,400-$8,743=$657 - I calculated this as follows - is this a correct assumption: $46,945 - $38,202 = $8,743
    Loyalty Incentive $1,250
    Total = $657 + 1250 = $1907
    8. This is your adjusted capitalized cost (CC) = $41,465 - $1907 = $39,558
    9. Subtract the residual value from adjusted capitalized cost. This is your depreciation amount:
    CC-RV = $39,558 - $22,064 = $17,494
    10. Divide the depreciation amount by the number of months in your lease. This will be your base payment.
    $17,494/36 = $485.94
    11. Add the adjusted capitalized cost and the residual value. Take the sum and multiply it by money factor. This is your monthly rent charge.
    (CC+RV) x 0.00215 = ($39,558 + $22,064) x 0.00215 = $132.49
    12. Add the rent charge to your base payment to get your pretax lease payment:
    $485.94 + $132.49 = $618.43
    13. Multiply your tax rate by the pretax lease payment to get the total lease payment:
    ($618.43 x 1.1025) + $618.43 = $681.82
  • canesmackercanesmacker Member Posts: 38
    The actual calculations I feel are more in line with your guidance are as follows using line 4 selling prices:

    1. Sticker price (MSRP) of the car $45,950 + $995 = $46,945
    2. Times the residual value percentage (RV%) = 0.47
    3. Equals the residual value (RV) = $22,064
    4. Negotiated selling price of car = $38,202 or $40,472
    5. Add in fees OPT + Admin + Taxes + BF + Sec Dep:
    $914 + 350 + 904 + 595 + 500 = $3263
    6. Add lines 4 and 5 to get gross capitalized cost = $41,465 or $43,735
    7. Subtract your down payment and rebates:
    Dealer Incentive $9,400
    Loyalty Incentive $1,250
    Total = Will not include the Loyalty for now - need to see what the dealer will provide in incentives.
    8. This is your adjusted capitalized cost (CC):
    $41,465 - $9,400 = $32,065
    or
    $43,735 - $9,400 = $34,355
    9. Subtract the residual value from adjusted capitalized cost. This is your depreciation amount:
    CC-RV = $32,065 - $22,064 = $10,001
    or
    CC-RV = $34,355 - $22,064 = $12,271
    10. Divide the depreciation amount by the number of months in your lease. This will be your base payment.
    $10,001/36 = $277.80
    or
    $12,271/36 = $340.86
    11. Add the adjusted capitalized cost and the residual value. Take the sum and multiply it by money factor. This is your monthly rent charge.
    (CC+RV) x 0.00215 = ($32,065 + $22,064) x 0.00215 = $116.38
    or
    (CC+RV) x 0.00215 = ($34,355 + $22,064) x 0.00215 = $121.26
    12. Add the rent charge to your base payment to get your pretax lease payment:
    $277.80 + $116.38 = $394.18
    or
    $340.86 + $121.26 = $462.12
    13. Multiply your tax rate by the pretax lease payment to get the total lease payment:
    ($394.18 x 1.1025) + $394.18 = $434.58
    or
    ($462.12 x 1.1025) + $462.12 = $509.48
  • kyfdxkyfdx Moderator Posts: 197,420
    Way into the weeds, here.

    TMV is the average purchase price including Acura-to-dealer incentives, taken from actual transactions from Edmunds dealer partners.

    If TMV is $38202, then deduct another $3400 for a lease, as the incentives are bigger.

    This results in a selling price of $34802. That's $12140 under MSRP, but considering the $9400 incentive, not all that aggressive.

    You'll have to explain these charges to me, as they don't seem right for NY:
    5. Add in fees OPT + Admin + Taxes + BF + Sec Dep:
    $914 + 350 + 904 + 595 + 500 = $3263

    I get $595 for acq.fee, but what is OPT and Admin? How did you calculate the tax?

    After you add whatever charges you come up with (don't add in the security deposit, as that would have to be paid upfront), the only thing to subtract is the $1250 loyalty. As the Acura-to-dealer incentive is already reflected in the selling price of $34,802.

    After that, your calculation method seems okay.
    Exactly what state is this?

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  • canesmackercanesmacker Member Posts: 38
    edited September 2019
    OPT = Options, i.e.:
    Body Side Molding$259
    Front Splash Guards$108
    Rear Splash Guards$108
    Front Underbody Spoiler$441
    Wheel Locks$56
    OPT = $914

    Admin Fees - are the dealer fees such as running a credit report, etc. $350 is high but w/o looking at my last lease agreement, I took a high swag.

    $595 is called a Bank Fee or Acq Fee - both the same I believe.

    Tax - I just used the last amount I was charged as an estimate. Assume it will be similar.

    So I am leasing the car in NY but it will be registered in FL.
    No different from what I've done on all my leases. However, makes the tax issue a bit confusing so any help here would be great. I will get my hands on my lease agreement and advise how it was calculated on my 2015 TLX V6 SH-AWD ADV.
  • canesmackercanesmacker Member Posts: 38
    So the total incentives not included in the selling price are the National Incentive of $9400 and another $3400 for the lease? The $1200 Loyalty is already baked into the selling price?
    What's the other $3400 - where did that come from?
  • kyfdxkyfdx Moderator Posts: 197,420

    OPT = Options, i.e.:
    Body Side Molding$259
    Front Splash Guards$108
    Rear Splash Guards$108
    Front Underbody Spoiler$441
    Wheel Locks$56
    OPT = $914

    Admin Fees - are the dealer fees such as running a credit report, etc. $350 is high but w/o looking at my last lease agreement, I took a high swag.

    $595 is called a Bank Fee or Acq Fee - both the same I believe.

    Tax - I just used the last amount I was charged as an estimate. Assume it will be similar.

    So I am leasing the car in NY but it will be registered in FL.
    No different from what I've done on all my leases. However, makes the tax issue a bit confusing so any help here would be great. I will get my hands on my lease agreement and advise how it was calculated on my 2015 TLX V6 SH-AWD ADV.

    If the dealer is in NY, make sure they process the deal with you being a Florida resident. Otherwise, you'll pay sales tax once in NY, then again on the payment in Florida.

    Dealer options are a great way to kill a lease deal. None of those are residualized. That will add about $30/mo. to your payment. The rest of that seems okay, but as I mentioned, leave out the security deposit.

    $46905 MSRP

    $34802 + $914 + $350 + $595 acq.fee + $87 tax on rebate (FL upfront tax)
    = $36748 Gross CAP
    - $1250 loyalty
    = $35498 Adjusted CAP
    .00215 MF
    47% residual
    $497.40/mo + 7% FL sales tax = $532.22/mo.
    Due at Signing: $532.22 + $550 security deposit = $1082.22

    You might be able to do better than that, but that's the math using TMV as a sale price for purchase, then subtracting the additional incentives on a lease.

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  • canesmackercanesmacker Member Posts: 38
    Still seems like a high monthly payment compared to the 2015 TLX I have now @ $445/mo.
    What am I getting for an addtnl $90/mo in the 2019 TLX?
  • kyfdxkyfdx Moderator Posts: 197,420

    Still seems like a high monthly payment compared to the 2015 TLX I have now @ $445/mo.
    What am I getting for an addtnl $90/mo in the 2019 TLX?

    Well, I didn't say it was a great deal. Just that those are the numbers using TMV as the sale price.

    I'll guess the 2019 has an MSRP that is at least $4K higher than in 2015.

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  • canesmackercanesmacker Member Posts: 38
    Yeah I think you're right.
  • canesmackercanesmacker Member Posts: 38
    Can you provide the MF, RV, incentives, MSRP for the same 2020 model.
  • MichaellMichaell ColoradoModerator Posts: 192,888

    Can you provide the MF, RV, incentives, MSRP for the same 2020 model.

    Let's move this discussion to the dedicated 2020 TLX lease thread, here:
    https://forums.edmunds.com/discussion/55639/acura/tlx/2020-acura-tlx-lease-deals-and-prices#latest

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  • canesmackercanesmacker Member Posts: 38
    FYI - Been texting back and forth w/a dealer and here are his numbers for a 2020 TLX V6 SH-AWD ADV:
    MSRP - $46,495
    Lease Incentive = $7650
    Loyalty Incentive = $750
    He took off $9,995 from the MSRP = $46,495 - $9,995 = $36,500 (I will provide a Selling Price of $33,300 to get the monthly payment down to $475/mo)
    FL tax - $1,440/36M upfront fee + motor vehicle fees = $2000 upfront approx.
    So monthly payment minus the FL 7% Tax is $495/mo.
    With tax = $570
  • MichaellMichaell ColoradoModerator Posts: 192,888

    FYI - Been texting back and forth w/a dealer and here are his numbers for a 2020 TLX V6 SH-AWD ADV:
    MSRP - $46,495
    Lease Incentive = $7650
    Loyalty Incentive = $750
    He took off $9,995 from the MSRP = $46,495 - $9,995 = $36,500 (I will provide a Selling Price of $33,300 to get the monthly payment down to $475/mo)
    FL tax - $1,440/36M upfront fee + motor vehicle fees = $2000 upfront approx.
    So monthly payment minus the FL 7% Tax is $495/mo.
    With tax = $570

    I'm closing this thread, as we've moved on to the 2020 model year.

    Please copy and paste to the thread I linked to earlier.

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