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I was quoted 2007 lease 36 months 10k miles with $0 down just your start up fees roughly $1200 due it came out to $419 with tax or $393 plus tax. With the $1999 down,$359 plus tax or $380. Good deal? MI sales tax is 6%.
Also, can you point me to a good finance calculator on the web?
Car_man
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Car_man
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Edmunds.com has a loan and lease calculator available right on this site. Here is a link to it: Edmunds.com Calculators.
Car_man
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I just did this very skinny lease deal shown below:
Terms: 36 months, 15k miles / yr
Money Factor: .00161
Residual: 61%
$351.22 / mo plus sales tax of $24.59 = total payment of $375.81 / mo
Amount due at lease signing:
$600
includes first months pmt, tag/title/doc fee.
I had the negotiation leverage b/c I shopped around and priced 4 different dealers. An outside dealer presented this deal to me and I presented it to my local dealer to match it and they did. If you have the time this method definately saves you alot of $$$.
I use www.leaseguide.com 's calculator.
Good Luck gents!
Car_man
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Dear Eric,
Here is the lease information you've requested.
36 mths/ 15,000 miles yr/ $985 down/ $366 + tax per mth
Cap cost with aquisition fee is $28,095.00-$595 =$27,500 for selling price
We have the silver with black in stock. Let me know when would be a good time for you to come in.
Thank you for the opportunity. We love expediting car buying and having fun. We look forward to having you as part of the Regal family.
Sincerely,
Darla Williams and Rita Rank
Internet Sales Department
Regal Automotive Group
MSRP: $28760
Cap Cost $27508 ($200 over invoice)
Acq Fee $595 (added to cap cost)
DMV Fees $236 (added to cap cost)
Residual 63%
MOney Rate .0016100
12000 miles a year
Drive off $412.07
Monthly Pmt: $354.82 (includes 7.75% sales tax)
The car had to be picked up from another dealer. They offered me anyone off their lot for $200 less.
Nice dealership to deal with. Very straight forward and honest. Deal was done over the phone before I set foot in the place.
"I am looking into leasing a '07 TSX and I looked on Acura's Main web page and there are some attractive incentives going on right now. A non- navigation, TSX has a leasing option for $299 a month. Not all respective Acura dealers mention this information on their website, but if the information on Acura's main page, don't all dealers have to honor?"
In addition, what is anyone finding that they are able to negotiate further? I am very new to leasing. Any assistance would be helpful.
Ending wife's 2004 Jetta GL lease for something larger and more luxurious. The TL would've been great, but we didn't want to spend that much $$ even though my car payment is almost 500/month but will be paid off in a few months.
Smithtown Acura Long Island, NY
Henry Neil was the salesman, he was very nice and respectful as well as very well versed in the Acura product line. I've been to upscale dealerships where I was educating the salesman on some of the feature/options...
My wife and I are young and we've been brushed off before elsewhere because they probably thought we can't afford their cars...i hate that!
Anyway we decided on an 07 TSX, no navi, it turns out they still have the lease rates from the holiday program until 1-31! I was very excited to hear this because from what i've read here, they've been high
MSRP 28,760
Price Paid 27,560
Term 36 months
15k/yr
MF .00127 (3% for super preferred 710+ FICO)
First month's down, bank fee, plates, etc up front (~1100) No cap reduction otherwise.
35x without tax, but I decided to pay the tax each month.
It came out to 385/mo with ~1100 total laid out
The only problem was color choice, seems the TSX has been selling well around here. We wanted white with the ebony interior, but there were none to be had so we took Black with the black interior and we're waiting for it to arrive.
I'm excited to finally own a car with a sunroof, leather, heated seats and all the other entry-luxo stuff packed into the TSX. My WRX cost me 24k in 2002, but all that $$$ is in the drivetrain/suspension. Yes it's much faster than a tsx, but the niceties will be very welcome for my wife's daily driver and when i drive it. 27k is a pretty good deal for still being somehwat early in the 07 model year.
for the 36month 15k/yr the residual is 59%
NY state sales tax is 8.625 on a receipt i had laying around, for some reason i thought it was 8.75, close enough.
I didn't have to negotiate anything on the MF. The salesman was reading right from acura's book thingy. I came home and looked here before buying to see what people were getting on a MF and the lowest I saw was .0016x from someone on the west coast. So I figured that .00127 is about as low as I've seen poking around these boards(hair over 3.0%) and that there wasn't a dealer markup, and even if there was it was still a killer rate.
IIRC the TL had identical MF's...
It was 34k msrp, 33k neg cap cost and 423 paying first months, fees and tax up front (roughly 460ish with NY tax rolled into the payment) I forgot the RV but it was 57 or 59 IIRC
Please let me know current money factor and residual for a TSX without NAV and with auto transmission. Looking to lease it for 36 months.
Thanks
I'm also interested in these numbers for the car and term above with 12k miles per year.
The invoice is around 26,300.
Lease Term: 36 Month 10K
Selling Price: $26,808
Residual: 59%
Money Factor: 0.00127
Sales Tax: 7%
Monthly Payment: 337.00 (tax included)
Due at signing:
First month payment: $337
Registration: $254
Document: $189
Bank Fee: $595
Total: $1375
Car_man
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Car_man
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Basically the two main numbers that you need to focus on when leasing are your vehicle's selling price and the money factor that is being used to calculate its monthly payment. These are dealers' two main profit centers on leased vehicles. Negotiate the lowest selling price that you can on the TL that you want and then have the dealer that gives you that price calculate its monthly payment using Acura's buy rate lease money factor.
Car_man
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Car_man
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Car_man
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36 months
12,000 miles
$3,000 down
$322/month (all taxes and fees included)
Also has a rear spoiler.
I just want to know what you guys think. Thanks!
(I live in Philadelphia, PA)
I would like to lease a TSX. However, I have terrible credit do to awful decision making. Bills are all current and paid but I already did the damage.
I have a small business that has done very well and I am able to pay from 12-14,000. The tax accountant that I have been working with said I need larger expenses and fast.
I do not want to buy outright as I do not want to deal with lack of warranty and repair costs.
Does anyone have any advice on how to approach this? I would like to do something like the SmartLease through GMAC but I am open to suggestions!
I'm currently trying to find out what it might cost me if I'm able to trade in my car for what I owe on it and simply lease a TSX with little down.
Thanks for the help.
Car_man
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I'm printing out some paperwork now and I'm going to probably stop by an Acura dealer tomorrow, test drive a TSX and see what kinda deal they can cut me.
My trade-in is holding me back right now, so I'll have to see what they can do about that. I owe almost $1000 less than the KBB so I'm hoping I can just part ways with it for the amount I owe without them trying to sneak it onto a lease.
I'm going to try and get that negotiated and offer $28,600 for the TSX with those rates you gave me and a minimal down payment.
Also, what is the maximum amount of miles i can be allocated before being charged excess mileage? Is it 15,000 or is there an 18,000 option
Thanks in advance
The local dealer seems to have a bunch of them and I may be able to swing a better deal and solve my trade-in problem with the leeway.
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MSRP of Vehicle $28,760.00
Miles per Year 15000
Residual Value % 59%
Residual Value $ $16,968.40
Capitalized Cost $27,000.00 (above $5XX over invoice - I think it is fair)
Depreciation $10,031.60
Term in Months 36
Mnth Depr. Payment $278.66
Cap Cost + Residual $ $43,968.40
Money Factor/Int 0.00127
$ factor payment portion $55.84
Lease payment (no tax included) $334.50
Monthly Tax amount $20.07 (6% in PA)
Total Monthly Payment $354.57
I'm pretty sure there is an extra 3% tax on leases in PA.. sorry to say...
As noted above.. you'll have an acquisition fee ($595?) and a security deposit..
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Car_man
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P.S. Go Lions!
WE ARE...PENN STATE!!
I'm your neighbor in Ohio. I just got the following lease deal for an '07 TSX w/o NAV.....
MSRP............................. 28,760.00
Sell Price....................... 26,700.00
Amounts Financed
1st. Payment........................ 351.08
Security Deposit...................... 0.00
Acq. Fee............................ 595.00
Sales Tax @6.00% x 35 x 329.77 ..... 712.30
Gross Cap........................ 28,358.38
Cap Reduction.................... 0.00
Adj. Cap......................... 28,358.38
Residual Factor (10K miles)....... 62%
Residual (RF x MSRP).............. 17,831.20
Money Factor...................... 0.00127
Term (months)..................... 36
Monthly Payment w/sales tax....... 351.08
Monthly Payment w/o sales tax..... 329.77
Total Due at Signing................... 156.00
(includes doc, license, title, registration fees)
You should be able to get the '07 TSX for between 26,550 and 26,700! I created a one page lease proposal exactly as it appears above (well, the numbers were at least aligned) and emailed it to one dealer at a time. I told them that all I wanted to hear was either a YES or a NO and that the AHFC lease agreement must be completed ACCURATELY. The fourth dealer finally got it right! You would be amazed at the number of dealerships that can't complete a lease agreement correctly or complete lease worksheets properly! Also, many lease software packages do not compute lease payments correctly when the first payment is rolled into (capitalized) the lease. All payments MUST MATCH! Consequently, sales taxes are incorrectly calculated as well. I created a TI-83/84 lease program that does every type of lease calculation imaginable.
My low fico is 620 with one medical collections left of $1200. I just purchased a home in December, but it still is not showing on credit report. Have deffered student loan of about $12,000. No open credit lines. Does anyone know if I have a chance? I heard that it is harder to get approved on a lease. Is this true? Will it affect the market factor?
Acura Price 28760
Selling price 27260
Lease for 36 mos @499. including tax
18,000 miles/year
1,000 down
My trade is an BMW 04 X3. Lease remaining is 4 mos @ 506.00 with 43000 miles over on the lease by 4,000.
What do you think? The TSX is w/out navigation.
BTW as far as credits on tax. Last time I did this, there was NO credit on tax from a lease or toward a lease because taxes on a lease in PA are assessed monthly on the payment, rather than at sale on the total (like with traditional financing)