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Acura TSX Lease Questions

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  • lwwgr1lwwgr1 Member Posts: 3
    What dealership was this with? I need to show the quote to the dealership I am working with so they will match it. Would you please give me the exact details of the deal.
  • greenacuragreenacura Member Posts: 42
    Below is the deal I was offered today. How does it look?

    Description: 2009 Acura TSX w/Tech Pkg. w/auto transmission Up front fees total $1200.00You would have 35 payments (additional payments ) of $470.00 month The lease would be for 36 monthsThe lease would be based on 15,000 miles per year.
  • cutigergradcutigergrad Member Posts: 1
    2009 TSX with tech:

    Lease payment of $399

    $1638 down
    15k miles per year
    36 month term

    This seems like a lot down.
  • GTIGRGTIGR Member Posts: 9
    I just finalized a lease for a 09 TSX w/tech package, 36 mo/36k miles from Motorcars in Cleveland. Here are the numbers:

    MSRP: 33,200 (extra rubber mats etc)
    Price: 29,500
    Down: 1,500 (out the door)
    Payments: 429 (including tax)
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    Either that or they went up in price. I got mine with $1100 down and $326 per month, tax included. With Tech it would be at most $20 more.
  • tmorris42tmorris42 Member Posts: 4
    That's kind of funny because Scholfield emailed back and said we wouldn't do the deal because yours was only made because of supply and demand. I'll call BS on that one because sales are off EVERYWHERE. On a positive note Don Carlton emailed back and was more than willing to work the same deal.
  • kyfdxkyfdx Moderator Posts: 237,100
    I think the Tech model has a lower residual than the base model.... So, it's not just the increase in MSRP that you have to deal with..

    With the same discount, you are probably looking at $40/mo., more...

    Which is why leasing Honda products with NAV is usually not that good of a deal (especially compared to the same non-NAV model).

    regards,
    kyfdx

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  • GTIGRGTIGR Member Posts: 9
    In order to get a TSX tech for $1100 down and $350 per month (everything included), the selling price has to be ~28k which is $2400 below invoice and $4800 below MSRP (residual for 36 mo/30k miles is 59%). There's no way a dealer can give that since they lose money on such a deal. I got quotes from 4 different states and the best deal was $1000 below invoice.
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    When I was leasing my TSX base in February, it was $25,990. Tech was almost $28K, destination included. So these prices are possible. I didn't have any coupons or discounts. Maybe just lucky.
  • marys236marys236 Member Posts: 90
    That's great, that Don Carlton is giving you the same deal. Scholfield was really anxious to make the sale as of March 31, which is why they brought the car to me, I could not drive up to Wichita at that time. So maybe it was an end of the month kind of thing. But it's better to buy local anyway, good luck with Don Carlton. I think you will love the car, I love mine.
  • greenacuragreenacura Member Posts: 42
    Thanks for the details about your purchase. I also feel the quote I got was too high. I am going to visit another dealer or two and see if I can get a deal closer to 28K for a Tech.
  • thechairman1thechairman1 Member Posts: 13
    what are the current residual value and money factor on the '09 TSX with tech at 10,000 miles per year? any incentives (particularly for current acura owners)?

    many thx.
  • acajoeacajoe Member Posts: 4
    From the Acura website, current offer: $2499 total due at signing for 36 mo lease and 10K/yr is $299 per month plus tax.
  • memesgoofymemesgoofy Member Posts: 14
    I think its same as March
    Money Factor .00215
    Residual Value 63% $18,849.60
  • anzialanzial Member Posts: 21
    I got the following quote for 09 TSX base:

    MF .00215 (for customer's with FICO scores above 660).
    residual 62% for 3years x12,000 miles
    Sales price of $26,891 (a bit high, I know but I haven't got anything better yet),
    MSRP $29,720.00,
    the monthly - $350.37 (only first month/license/registration due at signing, around $700)

    Is this a good deal?
  • memesgoofymemesgoofy Member Posts: 14
    Ask for detail of the quote breaking down the total cost, with fees included

    Here is how I see if I am getting a good deal (I have to have these #'s before making a deal).
    MSRP
    MF .00215
    Residual (used with MSRP to get Residual value = RV)
    Lease Term
    Mileage 10,000/yr ( for Acura, they'll probably add extra cost for higher allowance)
    Price of the car (26,891 is a good price)
    Gross Cap Cost (get breakdown of this number)
    Cap Reduction (if any)
    Net Cap Cost
    Formula I use:
    Net Cap + RV multiply total by MF (which will give you monthly rent charge)
    Take that mo RC and multiply by lease term (total rent charge (interest)
    Not done yet...
    Net Cap - RV = Dep/use Charge
    Use charge + Rent charge = total base payments, which then you divide by the term to equal monthly base payment.

    Good Luck!
  • anzialanzial Member Posts: 21
    My guess is, the gross cap cost is around $27500, prolly a ~$600 destination charge on top of $26,891 dealer hasn't mentioned in the lease quote.
  • memesgoofymemesgoofy Member Posts: 14
    I know that the destination charge is $760, which should have been included in the priceof the car.
    What area do you live?
    Forgot to mention to add sales tax on the monthly base payment. Tax in my area is 7%.

    It seems from what I've read in a couple of posts, some have paid the sales tax of the term of the lease up front. Would that allow the leasee to submit all of the tax on their 2009 return?
  • anzialanzial Member Posts: 21
    I'm in SoCal. I don't think we are paying full tax upfront, only monthly payment tax. The quote is for $350 before tax, with tax is $382. Now, if I understand you correctly, the $760 destination fee is the same whether I'm buying, financing or leasing the car?
  • angleralangleral Member Posts: 8
    I've been looking for about a week now and find all local dealers are very low in stock on the base model and se the ones they have they are asking high prices for. Best price on a red one was 27,231.00 and worse price on one was 28,000.00. I guess I missed out... I must tell you though, there are lots and lots of Tech models available.. I wonder if Acura will run agressive specials on them. Is it true the 2010 models will be out end of May?
  • memesgoofymemesgoofy Member Posts: 14
    Yes, I believe from what I seen that the destination fee is the same. You can check here on Edmunds. Just go to the TMV page, and it states the charge is $760. I think you can actually enter your zip code, just to be sure.
  • memesgoofymemesgoofy Member Posts: 14
    I don't think the 2010 will be out until Summer (August/September), and the MSRP starts out for the base model around $34,000...I think its a V6.

    I don't think you missed out on the current deal AHFC yet. You just have to look/work hard to find what you want, and then you might not even get all that you want. AHFC deal is based on MSRP $29,920; MF .00215; Residual $18,849.60; $2499 due @ signing (which includes $1605 down $595 AHFC Fee 1st month $299 payment) All tax, title, doc fee are extra. The $299 payment comes from an adjusted Cap cost of $26,132.03, so if you add the down payment of $1605 you'll get the price of $27,737.03 (which is my own starting figure).

    What are you looking for? (please send color, both ext/int)
    How many miles? What state do you live in?
    I think the price of $27,231 is a great price to start. You have to remember to ask them for a detail off all costs (price of car, doc fee, taxes, title) They like to add on things, like rubber floor mats...yuck
  • memesgoofymemesgoofy Member Posts: 14
    I think at the price of $399 to $429 for a TSX w/Tech, I would have chosen to upgrade the TL w/Tech (AHFC currrnt special is $429 w/tech, just $30 more per month than the base).
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey scooter21. Acura's April programs for the 2009 TSX are exactly the same as its March programs were.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi angleral. To the best of my knowledge, Acura did not introduce any special incentives on any models in conjunction with the New York Auto Show. The domestic manufacturers, GM, Ford, and Chrysler, often have Auto Show bonus cash but the Japanese manufacturers rarely do.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new TSX, jamber. Thanks for taking the time to share the details of your lease with everyone. Real world examples like yours are always helpful for others who are in the market for similar vehicles. If you'd like, you can stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well.

    Enjoy your new ride :shades: !

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi greenacura. the easiest way to evaluate how good a deal this is is to take a look at this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. This number allows you to see how large a dealer discount you are being given. You wouldn't finance a car without knowing how much you were being charged for it. Leasing one without the selling price is the same thing.

    Find out what the selling price is and let us know. Either myself or another knowledgeable community member will gladly give you their opinion of it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chairman. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura TSX Tech with 10,000 miles per year are .00215 and a solid 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Acura is currently providing $750 dealer cash on the 2009 TSX. The only loyalty cash that I am aware of is another $750 to current Honda Finance lessees whose leases are expiring.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • aschmittyaschmitty Member Posts: 5
    My deal on a 2009 Base TSX with 10k miles/year, 36 mos:

    Monthly Payment: $289
    Amount due at signing: $2,532 (includes taxes on entire selling price of the car, not just leased amount because I live in IL)

    I see it as I beat the nationally advertised lease special by $10/month and didn't have to put down the TTL.

    Thoughts?
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    The advertised special does not include taxes, registration, title, bank fee, dealer fee. It only includes a downpayment. All other things are mentioned extra in the small print.

    Also, you said you didn't have to put TTL, but then in another sentence said that you paid full tax. What is TTL?
  • aschmittyaschmitty Member Posts: 5
    Sorry for the confusion. I turned in my '06 RSX lease and the dealership somehow used that to pick up the taxes on the TSX. So I just put down $2,078, first month payment, and doc fee totaling $2,532.

    No other dealership was coming this low, so I'm pretty happy with what I got.
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    It is very strange to be taxed on the whole price of the car when you just lease it. It's like paying real estate taxes on the whole house when you only rent an apartment. I would be disgusted at this tax structure and never lease on principle.
  • jmdswejmdswe Member Posts: 1
    My TSX lease (from Honda Financial) is about to expire. I was informed I am entitled to a $750 coupon if I lease another TSX but i never got anything in the mail - or it was thrown out by mistaking it for junk mail. Does anyone know how i go about using that coupon? I am close to deciding on getting a 2009 TSX (although i wish i could wait for that '10 TSX V6.) Thank you.
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    Call up Honda Financial about it. From what I heard, these coupons could be used for ANY Acura, not just TSX. Although TSX is a fine car as it is. It might be also be used for Honda vehicles as well.
  • drtraveldrtravel Member Posts: 395
    You are allowed to deduct local sales tax paid for a new car on your federal income tax. How about leased cars. In California, when you lease an automobile you don't pay the sales tax at that time, the sales tax is paid in your monthly payment and is based on your payment amount. So technically you are paying the sales tax every month. Should this amount be dudctible on your 1040?
  • kyfdxkyfdx Moderator Posts: 237,100
    Nope...

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  • angleralangleral Member Posts: 8
    Well, spent a couple of weeks trying to get a lease on a TSX Base to no avail. Called dealers up to 60 miles away and had dealers trying to trade the Red cars in stock for any other color.. Not any around.. And the prices they are asking for the few red cars is outta sight. I guess I'll wait and see what happens if Honda gives incentives on Tech's otherwise June is not that far off and the 2010 Base models will be back in stock, hopefully.. I can get a super deal on an Accord 4cy EX-L., 299 per mo with 2000 down and 12k per year but I did want a TSX.
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    nope, leases are not deductible no matter when you pay it. It doesn't mean you can't try and later say oops, didn't know it.
  • wculbert1wculbert1 Member Posts: 16
    What do you think Honda will offer in terms of discounts vs MSRP, MF, and residuals on the new 6 cyl TSX? Seems logical that the residuals will be high, but they may not be too keen to offer other incintives. Opinions?
  • acuhonfanacuhonfan Member Posts: 10
    Sorry you weren't able to get a 2009 base TSX. You're right, the base models were gobbled up this month. I was able to get a black one at the beginning of the month, but it had to come from a dealer on the other side of the state. Regarding your deal on a 4 cylinder Accord EX-L, that's about the same as what the base TSX was going for. I realize that doesn't do you any good if you can't get one. You might look at the Accord V6 EX-L. A local dealer's ad has them running for $319 a month with $319 upfront for a 12K, 36 month lease, so they must really be pushing them. I would have looked twice at that car if they had offered that deal earlier. When I was shopping, the V6 Accord EX-L lease was more expensive than the base TSX. Also, I don't know if you've driven all three cars, but I drove the 4 cylinder Accord EX-L and did not find it to be terribly exciting, however I was coming from a V6 6 speed manual Accord. Although the TSX doesn't have the sheer power of a V6 Accord, it is definitely fun to drive, even in an automatic.
  • acuhonfanacuhonfan Member Posts: 10
    I predict that you'll have to put your name on a list to get a V6 TSX at first. This is the car certain fans of the previous TL are waiting for as well as those who believe the 4 cylinder TSX is under-powered. Not sure about the 2010 4 cylinder base TSX, but I bet Acura continues to run a $299 / low $300 a month lease with a significant amount down as a get you in the door tactic.
  • bvdj84bvdj84 Member Posts: 1,724
    Oops!
    I think you got hung out to dry on your Accord deal, You put way too much money down on the car. $0 down would still keep in you in the $300's. lower to mid. Yikes!

    Always start with $0 down when working a deal, sale price, lease terms, then throw in money down later. Its a lease, putting that much down, defeats the whole purpose. Not at the beginning. You will most always get hung out to dry.
  • valuehunter07valuehunter07 Member Posts: 31
    Hi everyone,

    I am totally lost on how you guys are calculating your figures and monthly payments here.

    There must be something different about Acura deals?!?!

    For example, here is one deal that has been mentioned:

    --------------------------------------------------------------------------------- ---
    The lease terms are 36mo/15k, 60% residual, .00215 MF, payment is $347.43/mo.

    Term: 36
    Base Payment: 347.43
    Total Payment: 347.43
    Purchase Option: 17,952.00
    MSRP: 29,920.00
    Est. Miles Per Year: 15,000

    Capitalized Cost 27,000.00
    Doc Fees 185.00
    Total Capitalized Costs 27,185.00
    Money Due at Inception
    1st Month Payment: 347.43
    Acq Fee (Upfront): 613.36
    Upfront Taxes: 878.50
    Total Out of Pocket 1,839.29
    Total Initial Charges: 1,839.29

    =================================

    Now if the MSRP is $29,920, and the residual is 60%, then the residual is $17,952.

    If the total cap is $27,185, the amount being financed is $9,233 (and this isn't even deducting the first month's payment paid upfront).

    A Money factor of .00215 is 5.2% interest.

    Financing $9,233 for 3 years at 5.2% interest, gives you a monthly payment of $268.10.

    WHAT AM I MISSING???
  • valuehunter07valuehunter07 Member Posts: 31
    Here's another example:

    ----------------------------------------------------------------------------

    I just finalized a lease for a 09 TSX w/tech package, 36 mo/36k miles from Motorcars in Cleveland. Here are the numbers:

    MSRP: 33,200 (extra rubber mats etc)
    Price: 29,500
    Down: 1,500 (out the door)
    Payments: 429 (including tax)
    =========================================

    If you take a $19,920 residual (60%) from a price of $28,000 ($29,500 minus the down of $1,500), you get an amount of $8,080 you are financing.

    At 5.2% financing, your payment should be $242.89 per month (not including the tax).

    HELP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :sick:
  • valuehunter07valuehunter07 Member Posts: 31
    Now that we have that established...................

    Seriously though, my boss is a CPA, and I THOUGHT he explained this process to me, but it seems the numbers aren't adding up.

    I'm sure many of you are already aware of this, but "leaseguide.com" has a pretty good breakdown of how the charges are calculated....

    What I'm not getting STILL though, is that you TSX people are paying very close to the same rates that the IS people are paying, yet your prices are $3000 less.

    If anyone can help me with that, I'll love you for life.
  • acuhonfanacuhonfan Member Posts: 10
    The lease payment is more than just a simple loan against the expected depreciation amount. The lease provider also wants to be compensated for their upfront investment in buying the car that you're driving, so there is a finance charge portion of your payment in addition to a depreciation charge. What if you bought a car with cash and then rented it to someone? You'd want to cover the lost opportunity of being able to invest your cash, therefore you'd want to charge interest (the finance charge), plus you'd want to cover the fact that the car is depreciating while it's being rented (the depreciation charge). A pretty good explanation is at the following link. You can also punch your numbers into the lease calculator at this site to get some insight.

    http://www.leaseguide.com/lease03.htm

    Hope this helps. :)
  • kyfdxkyfdx Moderator Posts: 237,100
    The amount financed is the average of the CAP cost and the residual... , not the amount of the depreciation...

    Loan starts at CAP cost, ends at residual amount...

    That's a simplification.. but, if you want to compare it to a loan, that's the closest you are going to get...

    That's why there is a formula, and they use the money factor, rather than an interest rate.. ;)

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  • valuehunter07valuehunter07 Member Posts: 31
    Ok, after reviewing the Leaseguide site, here is what I come up with, reviewing one of the deals quoted here:

    --------------------------------------------------------------
    I just finalized a lease for a 09 TSX w/tech package, 36 mo/36k miles from Motorcars in Cleveland. Here are the numbers:

    MSRP: 33,200 (extra rubber mats etc)
    Price: 29,500
    Down: 1,500 (out the door)
    Payments: 429 (including tax)
    =====================================

    The net cap here is $28,000

    The residual is $19,920

    So the Depreciation fee is $224.44 ($28,000 - $19,920/36 months)

    (Net Cap - Residual / term)

    The Finance fee is $103.03 ($28,000 + $19,920 x .00215)

    (Net Cap + Residual x Money Factor)

    Adding these two together we get $327.47 for a monthly payment (without taxes), yet the quoted price was $429 (including taxes).

    I seriously doubt the taxes made up the $100 dollar difference, so am I missing something???
  • kyfdxkyfdx Moderator Posts: 237,100
    You are assuming that the $1500 is a CAP cost reduction, but I bet it is all going to fees, 1st payment and security deposit...

    So, try it again with a Net CAP of $29,500....

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  • valuehunter07valuehunter07 Member Posts: 31
    kyfdx, thanks!!

    Ok now I figured out my errors there, but now when I use the formula I learned for leases (Leaseguide.com), I'm still not getting the same figures!!

    I wanted to go out looking at cars today, but I'm so boggled right now I can't even move. :sick:
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