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Comments
- 4 year
- 10kmiles
- base AT model
- $289
- A figure downpayment which i think was abournd $3kish - can't quite remember
Has anyone seen this and see if it is a good deal or not? What does this translate into in terms of a MF?
thanks
That is the MF that acura is giving on leases without a security deposit. If you have to put down a security deposit, then its .00283.
I also was dealing today and they would not budge on the MF or residual, but also brought the price down to invoice. I also dealt on a TL and they dropped to $1k below invoice! BUT, given the ridiculously high MF neither cars were good deals IMHO, with the TSX, 48 mo./12k lease running about $375 and the TL at $420 with $2500 down.
Your 48 mo lease quote I'm assuming is without taxes? If so then $289 with $3k down seems about right.
The dealer also told me that they have no idea when or if Acura will lower the MF. This makes sense since they do not want to turn someone away from buying a car today!
I'll try and keep ya posted....I think the dealers are giving good deals, it is just that Acura is charging much too high an interest rate.
I am beginning to think about buying - some dealerships have 2.9% apr and i even heard muller acura today with 1.9% on the radio - but i didn't quite catch the ad - i will have to ring them...
i like the payment on the 4yr! But that is a bit long to lease i guess..mite as well buy something...pity the tsx is coming out with a new car in 08.
I have been given the .00290 money factor for either a 36 or 48 mo. lease. The only item that changes is the residual. The money factor should drop slightly to .00283 if you have a security deposit. In reality, the .00290 MF is like rolling in the security deposit, so it really makes little difference.
I have to agree with you that buying is currently the better option. The only reason I will not do that is because I'd rather not put down a large downpayment, and/or have car payments over $500 a month, plus I like to get a new car every 3 or 4 years. I also like to spend my money on other things other than a car and not be tied down by a car payment. But if you can afford it and are planning on keeping the car for awhile, then in the long run (5+ years) you will save money over a lease - especially since we in IL pay tax on the entire car price anyway.
Given that I am also likely to lease for 4 years this time (especially if the money factor doesn't drop), I am also concerned about getting a car that I'll really like. This is why the price gap between the '06 TL and TSX is making me interested in the TL. It is currently about $40 a month on a 4yr lease ($375 TSX vs. $415 TL). Although I have yet to drive the TL, I have a feeling that it will feel closer to my '04 Accord v6 coupe. Too many decisions....! If Acura lowers the 6.95% lease interest (MF = .00290) it would make the decision making progress much easier.
Do they have a website? How would you get this rate when buying a car from the dealer?
I also checked out leasecompare.com and while they had some lower money factors, their residuals were also lower. This negated the savings from the better money factor. Is this the case with interstate auto leasing?
Thanks!
interstateautoleasing Don't know if we can give web sites?
47% on the TL
50% on the TSX
Both doing a 48month/12k yer year lease
Thanks again.
Given your MF and residual, I calculated a TSX payment of $371 per month for 48mo. with the TSX cap cost being $26k and $2k down. This puts it in line with what I've been getting through Acura as well. Its amazing how a slight change in MF or residual can add up to the same deal.
$351 (assuming .002 and 47%)
Can u tell me what type of lease (i assume) on the tsx this works out too? I am looking at a TSX too (in the next 2 weeks hopefully), so i would be very interested if there is a cheaper deal available via a 3rd party...
What is the name of the 3rd party bank?
thanks.
Have you used them before to lease? I'm always nervous about hidden fees or turn-in difficulties.....I have leased before from a bank though (Chase) and did not have any problems. Also, when you go through interstate, how does that work? Do you still go to the dealer and once you get theprice you're satisfied with, then have paperwork ready for a lease?
Thanks again for your help!
thanks.
thanks
Yes, these numbers are for a 48 month lease with $2k down and 12k miles per year and include taxes and the $595 aquisition fee. It does not include first month's payment and tags ($143 in IL).
your welcome.
Personally, I would still lease because I would rather keep my monthly payents low and put less money down. In addition, I am also the type who likes to keep a car about 4 years maximum (below the manufacturers full warranty period) and then trade it in or sell it to carmax and use the money for a downpayment on a new vehicle.
I'm wondering if you may be able to get a better financing rate from Acura? My reason for mentioning this is that I've read on the TL forum that there are new rumors Acura will announce a Halloween sale starting on October 25th. Again, I don't know how truthful these rumors are, but it was stated that Acura would likely offer special financing in this sale.
Hope this helps...
thanks for your opinions...i actually found today a tax advantage rule offered by my employers credit union where the 5.49% apr rate they are offering can be counted as debt against your mortgage which makes the tax deductible - at my tax rate, that makes the effective rate 4.1% apr. So, a loan over 4 to 5 years turns out to be a pretty reasonable payment on a tsx - i will have to wait for the weekend anyway, since this loan takes 3 days to clear, so if acura does something between now and then, it would be even better!
when u say 'trade it in' - do u mean at the end of the lease, the car is generally (with cars like acuras) worth more than the computed residual and so you can buy out the lease and then sell the car for a profit - as u say, to use on next car?
thanks,
bso
Yes, that is what I am referring to. In fact, Honda/Acuras hold their value so well that you can often trade them in early and still break even or make money. I sold a 1999 civic ex coupe to carmax 6 months before my 36 month lease was up and still made $600. Given the current Acura deals I am thinking of selling my '04 accord v6 coupe to carmax 8 months before my 36 month lease ends. Edmunds TMV trade-in value in good condition is only $100 shy of my current payoff! Since my car has low miles (25k) and is garage kept, carmax may appraise it higher than good condition but below excellent as they did on my 99 civic. If they do then I break even or even pocket a little money and can take advantage of some great year end sales.
Keep your eyes open for this supposed Halloween sale. The TL board is predicting 3.9% financing on '06s....although given your loan situation this is really not much different. That is great if you can write off those taxes and definitely gives you a big advantage over leasing.
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Also, I noticed that you are considering making a large down payment on your lease. I always advise consumers not to make down payments on leased vehicles. The main reason why I do so is if your leased vehicle is totaled in an accident or stolen and never recovered, your down payment essentially disappears. You can and should lease this car without making a cap cost reduction. Of course, without one your monthly payment will be a little higher.
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do you know what the money factor and residual is on a new 2007 model? say a 36 month or 42 month. where can I find this info???
Thanks
Thanks for any and all feedback!
I just got the following offer on a 2006 TSX (w/o Navigation) from Devan Acura in Norwalk, CT and would like your opinion.
MSRP - 28,505
Net Cap - 26,600
Residual - 56%, 15,962.80
Miles - 12,000
Term - 42
Factor - .0028
Rate - 6.8%
Bank Fee - 595
Motor Vehicle Fee - 155
Doc Fee - 199
Total Monthly Payment - 394.79
Total Spent (including 1st month payment) - 1400.73
Free oil changes included
Is this a good deal?
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There is still a good chance that you will be approved for a lease if your credit is not in perfect shape, but if you don't qualify for Honda Finance's top credit tier you will have to pay a higher money factor than someone who does.
The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing.
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I would like to ask you a question but don't know how to contact you.
I would like to know if Ford's holdback to dealers is a standard 3% for every vehicle or if it varies by vehicle or even dealer and if so, how.
Could you mention where I can get more detailed info than the 1-3% industry standard as well.
Thank you.
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What would the monthly payments be on a 2006 TSX w/navi with a selling price of $27,670, money factor of 0.00284, and residual of 52%. This is for a 36 month, 15,000 miles/year, $0 down lease.
The salesperson quoted me $415/month.
Price of the car - $30,000
Money down - $ 2,000 *
Money factor - 0.00290
Residual value% - 60%
Residual value - $18,456
Documentation fee - $110 *
Title fee - $27 *
Bank fee - $595 *
Monthly payment - $399.83 *
AMOUNT DUE AT START – $3,131.83 (TOTAL * )
PAY OFF – YOU NEED TO ADD $1,068 TO PAY OFF YOU CAR
$3,131.83
+
$1,068.00
$4,199.83
_
$199.83 (DISCOUNT)
$4,000 - TOTAL AMOUNT DUE AT START
FREE ACCESSORIES –
DOOR VISORS - $155
SPLASH GUARDS - $126
TOTAL .. $281
base TSX w\ AT
includes all season mat
apprx $375 \ month
36 mnth
15k\year