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Acura TSX Lease Questions

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Comments

  • postytsxpostytsx Member Posts: 15
    Hi Car_man.

    Thank you very much for the info on the 2011 TSX Tech V6 with 12,000 miles per year.

    I was hoping you might also be able to give me the July buy rate lease money factor and residual for the following:

    2011 TSX Tech MT (manual transmission). 12,000 miles per year. I think that model only comes with a 4 cylinder engine.

    Thank you so much! I don't know where we would be without your help and guidance. You've made me a much smarter buyer / leaser over the years. :-)

    PostyTSX
  • postytsxpostytsx Member Posts: 15
    Hey Car_man.

    Heading into my local Acura dealer Tuesday evening to discuss a lease on a 2011 TSX Tech with Manual Transmission. 12,000 miles per year.

    Would you be able to equip me with the Money Factor and Residual?

    Assuming the Money Factor is the same (.00092) as it is for the V6, but I'm guessing the Residual might be different.

    Thanks
    PostTSX
  • redhawkdan11redhawkdan11 Member Posts: 2
    I was just quoted 269/mo +tax with 3600 due at signing on a 2011 TSX base. Sale price is 29000. Is this a good deal? The dealer doesnt seem very willing to negotiate but I can always go elsewhere.

    Thanks
  • jamesbond15jamesbond15 Member Posts: 145
    $29k is too much. I would check truecar.com to see what people are paying in your area. For example, in LA I would go for about $27,300 based on what truecar said.
  • mquinnjrmquinnjr Member Posts: 4
    Hey everybody, just got a lease on a 2011 TSX V4 Tech Package. 36 months, 12,000 miles/yr, 500 down/out the door, 410 a month, all inclusive. I'm a loyalty customer coming off of a previous 2009 TSX base lease. Dealer told me .00092 MF and 58% residual. Forgave the last 2 months of the current lease as well.

    I feel like I got a really good deal, since my last lease 3 years ago for a 2009 TSX base was 401/mo, 12000 miles, 36 month lease. Maybe I just got a bad deal there, who knows.

    Anyways, leads me to wonder are sales down and I just struck at the right time? Either way, very pleased today. Very hassle free sales process dealing with the same dealership as well.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks and you're very welcome PostyTSX. Acura's July buy rate lease money factor and residual value for a 36 month lease of a 2011 TSX Tech 4-cylinder with 12,000 miles per year are .00092 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • postytsxpostytsx Member Posts: 15
    Hi mquinnjr.

    I think you got a great deal. In fact I just got an identical lease ($410 per month, 1st month payment due at signing) on a 2011 TSX Tech Pkg M/T. I too was a loyalty customer coming off of a 2009 TSX Tech Pkg M/T.

    I think I could have probably gotten the monthly payment below $400 if I tried a little harder, but I was happy with the deal and very pleased with the lengths this particular dealer has gone in order locate and then get me the particular car I wanted.

    PostyTSX
  • stone23stone23 Member Posts: 10
    Hey all,
    Hoping to get some advice from the group. I currently have a 2005 Acura TL fully loaded. It is without a doubt the best car I have ever had. Sadly the car is getting a little long in the tooth and major electrical issues are happening. Car dies every two days if I don't drive it. Nav, bluetooth and radio all died.Live in NJ and brought it to my mechanic(whom I trust)- had it for a month. After checking every wire, he couldn't figure it out. Thankfully he didn't charge me a dime. SO, the decision is what should I do with it. 141K miles on it.Other than the electrical issues, the car is great. Do I donate it, trade it in, etc..I don't think I can sell it privately.
    I went to the Acura & Honda dealerships to check out the V6 TSX 2011 tech pkg and V6 Accord. The Acura salesman told me that they don't sell many V6's but said for the money I should look into a TL. I know it was BS. I cant imagine the TL with Tech pkg close to the TSX.. Getting to the point....I am torn between leasing and buying. If I lease, I am thinking of going the Honda route because I know I won't want to have it beyond 3 years. I love Acura, but unless I can get 7-9K for my 2005 Acura on a purchase, I don't know if I would buy either. I also don't understand why anyone would put money down on a lease. To me doesn't make sense. Basically giving the dealer your money with no chance of getting it back. Sure your payments will be lower. Am I wrong. Any help would be appreciated.
  • postytsxpostytsx Member Posts: 15
    Hey Torn.

    I share the same thoughts about putting money down on a lease. Putting money down on a lease is just foolish. It actually doesn't matter one bit to your dealer if they get $3000 down or $0 down. They are still getting 100% of the selling price of the car from either Acura Financial or the particular bank that is financing the lease.

    As far as your 2005 TL is concerned. That's a great car! If it were me I would take it to the Acura dealer and have them see if they can figure out where the electrical problem is. I know you trust your mechanic friend, but your Acura dealer probably has better tools for finding & diagnosing the problem. The car has got to be worth $2-4K more if it is in good condition than it is now.

    Now having said that, if you don't want the hassle the easiest thing to do is see what the dealer will give you for it in trade. KBB has your car listed @ $8700 for trade in "Fair" condition which is the lowest it will go. A dealer will never give you KBB value on trade though.

    I've looked at and driven both the V6 Accord and the TSX. I went with the TSX instead even though it was slightly more expensive than the Accord. The reason being:

    1. I just liked the styling on the TSX better than the Accord.
    2. The Tech Package (NAV, Sound System, etc) is more advanced on the TSX than the Accord.

    The TSX now has a Hard Drive based Navigation System, whereas the one on the Accord is still DVD based and feels to me like it's about 2-3 years behind that of the Acura.

    PostyTSX
  • jamesbond15jamesbond15 Member Posts: 145
    You are correct, putting a lot of money down on a lease is foolish.

    Try carmax, I found that they buy cars for a decent amount.
  • stone23stone23 Member Posts: 10
    Thanks Post for the response. You leased correct? Curious to know what kind of deal you got. What's your monthly nut? All of the car sites talk about going into a dealership and saying you are looking to buy a car - negotiate the best deal and then tell them you want to lease. Or if you are going to buy, tell them about the trade in after. I agree with you on the Honda vs. Acura comparision. I do like the TSX and TL much better than the Honda Accord. The backseat of the TSX was much smaller than the Accord. But I am a very techy guy and always want the cooler options, even if it costs more. I am torn because I don't want to buy the Accord and have to be locked in for more than a 3 year lease. I definitely think I can get around 6500-7500 for the car but not anything more. I could have brought it to Acura, but I always get ripped off on labor with them. And it would have wound up costing me about the same in the actual trade in value i am going to get.
  • postytsxpostytsx Member Posts: 15
    Hey Stone23.

    Yes, I'm leasing my TSX. My payment is $410. The only money I put down was the 1st month payment. It's a 10,000 mile per year lease, but Acura Financial is rolling over the unused miles on my previous lease into this one. I don't have all of the details handy at the moment, but I was able to negotiate a price that I think was pretty close to dealer invoice (~$30,500). We were able to get to that price point by using equity from my current car, along with $750 loyalty incentive from Acura Financial for leasing another Acura.

    The car sites tell you to talk about buying and once you reach a negotiated price then tell them you want to lease because a lot of dealers try to play the "name your monthly payment" game as a way of avoiding having to disclose all of the numbers that go into that monthly payment.

    Frankly speaking, I simply won't do business with a dealer that isn't willing to be transparent with me about the numbers that are going into the deal. If they want to play games, find another dealer...

    For leasing, the things you absolutely must have from your dealer are:

    1. MSRP
    2. Negotiated Price of the car.
    3. Residiual value (how much the car will be worth at the end of the lease)
    4. Money factor (essentially the cost to finance).

    If they won't be up front with you about those numbers, find another dealer. For the 2011 TSX, I believe the July residual & money factor are 58% and .00092 respectively for a 12,000 mile lease. Plug those numbers into a Lease calculator (link title) to determine what your monthly payment should be.

    PostyTSX
  • cmb58cmb58 Member Posts: 3
    Looking for money factor and residual on non-tech 4 cylinder TSX for 36 months and 12K per year.

    Thanks!
  • tobe575tobe575 Member Posts: 2
    Hi Car_Man,

    This post is a tremendous help, especially for someone like me who is new to leasing.

    I’m interested in leasing a 2011 or 2012 Acura TSX Sports Wagon (without the tech package) in the greater Boston, MA area. I am interested in a 3-year lease with 12,000 – 15,000 miles per year.

    Since this is my first time leasing a car I’d appreciate any insight you can give regarding some basic questions.

    1. Which model year car should I lease, 2011 or 2012?
    2. Does it matter when I lease the car? For example, should I wait until September or lease it in the last few days of July?
    3. Should I put any money down on a lease? In a previous post you mentioned putting as little money down as possible. Why put any money down?
    4. What is the current money factor and residual value for this car?
    5. What other factors should I consider in making the best leasing decision?

    Thanks for your help,

    ToBe575
  • greedysheedgreedysheed Member Posts: 1
    Hey Guys I am a recent college graduate and I am looking to lease an Acura TSX base I would love to get the technology package but from what I've seen I can't really afford it. I can afford a maximim of $310 a month for the lease. I have $3500 to put down and I am aware that there is a special lease offer including a 2011 TSX 5 Speed Automatic $2,499.00 total due at signing for 36 months 10k Miles a year that ends Spetember 1st

    Like I said I am completely new to this. I would like the payments to be no more than $310 a month. Is that possible? Whether it is a Lease with the technology package or not.

    Please HELP HELP HELP. I would really appreciate any helpful information.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go cmb58. Acura's July buy rate lease money factor and residual value for a 36 month lease of a 2011 TSX 4-cylinder with 12,000 miles per year are .00092 and 61%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ToBe575. The last time that I checked, the 2012 TSX was not out yet. As a result, if you want to lease one right now you would have to go with a 2011 model. We're getting pretty late in the model year. If you really want to lease, you probably should get your TSX sooner rather than later. At some point late in the model year Acura will pull the plug on its lease support for the 2011 model.

    You definitely should not make any capitalized cost reduction when leasing. Any money that you put down is at risk of being lost if your vehicle is totaled in an accident or stolen and never recovered.

    Acura's July buy rate lease money factor and residual value for a 2011 TSX Sports Wagon with 15,000 miles per year are .00092 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    As far as what other factors you should consider go, make sure to negotiate as low a selling price as possible on the car that you want. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi greedysheed. I believe that Acura is currently advertising the base 2011 TSX at $370 per month with nothing down, That's still a little over the payment that you were aiming for. You can probably do a little better than this by negotiating a lower selling price on the vehicle that you want, but if you live in a state that charges sales tax you would have to add that to the payment, potentially negating the additional discount.

    Car_man
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  • biker4biker4 Member Posts: 746
    If you can't afford the minimal extra cost of the tech package inside a lease you can't afford the car to start. Has the recent recession not taught anyone anything? Aim much lower ($20K MSRP car) and then see if you can perhaps stretch up a bit. Even better, get a good used car (or keep your current car) and get settled before making any big financial moves.
  • kyfdxkyfdx Moderator Posts: 236,681
    I respectfully disagree.. On a lease, the tech package cars get a lower residual... It takes a $320 car and makes it $360-$370. That's not a good value, no matter what you can afford..

    It's been that way on Honda/Acura leases for a long, long time. I'd get the base model and a Garmin.

    (in other words, I disagree with the term, minimal extra cost)

    regards,
    kyfdx

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

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  • marys236marys236 Member Posts: 90
    I currently have a 2009 TSX 4cyl base, on a 3 year, 45k lease that ends March 31. I got a call from my dealer asking me if I would consider getting into a new lease now, if they could get me the same payment, no money down. That seems kind of crazy since I've still got 8 months left on my lease, is that even possible?

    I was planning to lease a new TSX when my lease expires, although I thought I might try to go up to a V6, but I've never heard of mfrs letting you out of a lease 8 months early. If that is possible, what kinds of things should I be looking for? I've heard you can get a $750 incentive payment, and even roll your unused miles into the new lease, is that correct? I've only got 31,000 miles on the car, if I could roll the miles into a new lease, I could come down from 15k to 12k or even 10k per year. Could I get those incentives if I tried to go up to a V6?
  • jacklivesayjacklivesay Member Posts: 1
    what are the current residual and money factor for August on a base model TXS wagon? Any incentives/rebates?
  • nb_111nb_111 Member Posts: 7
    hi, guys, I was quoted $395 per month and $1000 down(10k miles a year) on a 2011 tsx base model lease. is this a good deal?

    Thank you
  • nb_111nb_111 Member Posts: 7
    hi, mquinnjr
    which state are you in ? I just got a quote for $395 mo and $1000 down on a 2011 tsx base with 10k. is this a fair deal?
  • tobe575tobe575 Member Posts: 2
    Car_man,

    Thank you for your reply.

    Your insight is truly helpful.

    - ToBe575
  • jamesbond15jamesbond15 Member Posts: 145
    Without knowing the sales price of the car it is hard to say if the deal is good. (But so far it doesn't seem like a good deal). Ask the dealer to give you the sales price (even leases have a sales price) and then compare that to what truecar.com says for your area.
  • biker4biker4 Member Posts: 746
    I still stand by my statement - if you can't afford the $40/mo increase from 320 to 360 you shouldn't be getting the 320 lease car in the first place.

    Biker, who has a very conservative fiscal outlook and thinks that anyone who can't pay cash for the car shouldn't buy it.
  • kyfdxkyfdx Moderator Posts: 236,681
    LOL...

    I'm just saying that $1440 to rent navigation for three years isn't a very good value.. I can buy a new Garmin every three years for $100.

    Sort of irrelevant to whether you can afford it..

    Also, in the context of a conservative fiscal outlook, it's always good to have a budget, even if you have the ability to pay cash. Even the cash buyer has depreciation and finance costs (loss of interest income), just like the person that leases.

    regards,
    kyfdx

    (who sometimes leases vehicles that he could pay cash for.. lol)

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • nb_111nb_111 Member Posts: 7
    the selling price of the car is 29500. but I just got a new quote 500 down. 380 a month. is this good?
  • jamesbond15jamesbond15 Member Posts: 145
    Truecar.com says that a price of $29,500 on a 2011 Base Automatic TSX is overpaying. I would aim for a price of about $28,000. (I am using LA as an example, the numbers in your area may vary a little)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jacklivesay. Acura's current buy rate lease money factor and residual value for a 36 month lease of a 2011 TSX Wagon with .00092 and 61%, respectively for consumers who qualify for its top aka "Super PReferred" credit tier.

    I don't believe that Acura is currently providing any cash incentives on leases of this vehicle.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome tobe575.

    Car_man
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  • redrobin1redrobin1 Member Posts: 4
    I recently leased a 2011 TSX and signed a closed end lease agreement. I was happy with the sale but did not receive a copy of the agreement. They said they would send it through the mail. I live in PA and was wondering if they must give you a copy of the agreement when you sign it?
  • delta737hdelta737h Member Posts: 626
    Strictly speaking, I don't know that they must give you a copy when you sign. However, it's just good business practice to ask and for them to give you a copy of the agreement to which you're legally entitled.

    John
    The AutoLeaseGeek
  • scericsceric Member Posts: 2
    edited August 2011
    Hello everyone,

    I'm totally new to this. I'm qualified for the college program 36 month leasing offer:
    $0 down payment, $360/month for 35 months, 10k miles/year, the net capitalized cost is $30,410.94 including a $595 acquisition fee. the residual is $18,906.9. Based on the info, my calculation indicate that the residual rate is 62.7%, and money factor is .00083.

    The state that I reside in levies a $300 sale tax plus vehicle property tax which varies by years. But, confirmed with the county treasure office that leasing car is treated as buying a new car and full sale price will be applied for tax purpose.

    I'm totally new to leasing car business. Please help me take a look. I need to make a decision pretty soon as I'll be crazy busy with the new job soon. Thank you!
  • jamesbond15jamesbond15 Member Posts: 145
    Compare the sales price of the car to what truecar.com shows for your area. Aim for the lowest price truecar shows.
  • space_odysseyspace_odyssey Member Posts: 6
    I am considering leasing the base TSX with the $299/mo. $2499 due at signing special.

    Seems like a good deal to me as is. Do I even have a shot to try to negotiate this lease down even further? I know "dealer contribution may vary" and that tax, motor vehicle and other fees are extra. All things being equal, could I walk in there and offer to pay $275 a month and have them take me seriously? Or can I negotiate to increase the dealer contribution to include these extra fees?

    I also have a trade in that I can get about $5k for. I assume that the trade in value will be a cap cost reduction used to determine the net cap cost and mohtly payment.

    Any insight on this is appreciated.
  • scericsceric Member Posts: 2
    That was exactly what I felt. But, after negotiation, I ended up with paying $340/month for 35 months with zero down.
  • space_odysseyspace_odyssey Member Posts: 6
    Nice deal. I broke it down and you are right. Looks good on paper but then when you break it down, you are overpaying on the MSRP. The 299 doesn't include taxes and DMV fees, either. So the actual payment works out to about 320/mo.

    I assume you negotiated the MSRP down. What did you get it down to? $29,000?
  • pimlipimli Member Posts: 2
    Hi,

    I am trying to lease a 2011 TSX. The dealer gave me a price of $32600, with $430(without tax) for monthly lease. I asked for a 12000 miles. He said it is $12 more than the 10000 mile price.
    The residual value, he gave me $19500. residual also looks too high.

    What is a good price on this?
  • rolento76rolento76 Member Posts: 47
    I just turned in my 2009 TSX 4cyl base 6 months early and signed a new lease for a 2011 TSX 4cyl Tech. It isn't unusual to get out of a lease early if the dealer can buy out the older car from the leasing company and resell it for profit. Basically, they will appraise your current car, then compare the appraisal to the lease buyout cost. In my case, they offered me a great deal on the 2011 tech model plus the $750 loyalty incentive.
  • pimlipimli Member Posts: 2
    I am looking to lease a TSX too with Tech package. Just wanted to know, how much did they quote you?
  • jamesbond15jamesbond15 Member Posts: 145
    check truecar.com for the going sales price in your area.
    A higher residual is actually good. The higher the residual the lower the payments. But the residual % is set by Honda Financial.
  • rolento76rolento76 Member Posts: 47
    They quoted me $31355. Monthly payment is $389 a month no money down.
  • dickharrisdickharris Member Posts: 3
    Hi carman,

    Would you mind providing current money factors and residuals on TSX sedan and TSX sportwagon? This would be in the southeast.

    Thanks!
  • dmullanedmullane Member Posts: 1
    I'm a recent college grad and new to car leasing. I went to my local Acura dealer in Miami and was able to negotiate a deal for $2000 down, $380/month for a black on black 2011 TSX with the tech package. I was wondering if this is a good deal. I put a small fully refundable deposit on the car to hold it while I consider the deal. Is this a good deal? Any help at all will be extremely appreciated!!
  • ken117ken117 Member Posts: 249
    My advice is not to put any money down on the vehicle. If you are leasing, it is usually best not to put any money down. Keep the $2,000 in the bank, better to have it available. If you find you are strapped to make the additional monthly payment, you can always use the $2,000 to cover the payment. Most likely you will find, especially as time goes on, you have no problem with a higher payment and you will be happy you have the $2,000 at your disposal. Also, not sure about your situation, but a person does not have to pay MSRP for a lease. Check out True Car and Edmunds TMV and see (should be no problem) if you can negotiate a discount from MSRP based on those numbers. My daughter is an a similar situation as you. I advised her to remember she, as the consumer, is in the driver's seat in this economy. The dealer must please you to sell/lease the vehicle. She got a deal from a dealer. After speaking to me, she returned to the dealer and got $1,500 off the selling price plus an additonal $1,500 for her trade. A little knowledge about the car sellling industry and a bit of confidence when dealing with the sales staff goes a long way. Good luck.
  • mrgiellamrgiella Member Posts: 52
    I received a quote for a 2011 TSX with Tech of $2K down and $339 a month. All taxes and fees are included. The selling price of the vehicle is $28800.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dickharris. Acura's September buy rate lease money factor and residual value for a 36 month lease of a 2011 TSX Sedan 4-cylinder with 15,000 miles per year are .00057 and interestingly 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of an '11 TSX Sportwagon are .00057 and 59%.

    When negotiating your lease on these vehicles, make sure to take advantage of the $500 dealer cash that is currently available on them.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome dmullane. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    I would be happy to give you my opinion on this deal if you tell us what this car's selling price is.

    Car_man
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