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Comments
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
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
Thanks
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.
Car_man
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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
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.
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
Try carmax, I found that they buy cars for a decent amount.
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
Thanks!
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
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.
Car_man
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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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Car_man
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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
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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?
Thank you
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?
Thank you for your reply.
Your insight is truly helpful.
- ToBe575
Biker, who has a very conservative fiscal outlook and thinks that anyone who can't pay cash for the car shouldn't buy it.
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)
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I don't believe that Acura is currently providing any cash incentives on leases of this vehicle.
Car_man
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Car_man
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John
The AutoLeaseGeek
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!
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.
I assume you negotiated the MSRP down. What did you get it down to? $29,000?
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?
A higher residual is actually good. The higher the residual the lower the payments. But the residual % is set by Honda Financial.
Would you mind providing current money factors and residuals on TSX sedan and TSX sportwagon? This would be in the southeast.
Thanks!
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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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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