Acura TSX Lease Questions

mjs504 · October 2007

I recently leased a 2008 TSX from Ramsey Acura. We had the same question and spoke to multiple people who leased from Ramsey and had great feedback regarding their experiences there. Good luck.

rtoys1 · October 2007

Thank you for your quick response. I will visit them this weekend and will provide an update shortly.

jvos · October 2007

CARMAN, HELP!

I could really use some feedback as my previous lease turn in is a week away! Thanks.

schmurg · October 2007

Hi all. I believe I am going to purchase an 08 non-navi tsx this weekend in northern new jersey. does any have any experience or advice in what price i should be looking for? right now they are at 27,090 not including tax, registration, etc.

Thanks.

kh4n · October 2007

For a 36-month, 12,000 mile per year lease on a 2008 automatic-transmission Acura TSX w/out navi, I was quoted $325 + tax = $340 per month and an initial payment of $1500 that included the first month's lease payment, registration, and some other stuff (I've never leased before and I didn't get the details). The price of the vehicle was "around $27,000."

The lease would be through Honda's leasing company. At the end of the lease period, if I choose not to keep the vehicle, they will allow up to $1,500 extra wear and tear above "normal" with no extra charge.

Am I getting taken for a ride here, or is this a fair offer? Any other info I can provide to help evaluate the offer?

jvos · October 2007

My thanks to this forum and in particular kyfdx.

We got our TSX for $409/mo due completely due to the power of knowledge and information.

What's more, it was exactly the type of transaction I like - all negotiation was done before I ever set foot in the dealer. When we got there, the car was being detailed, the paperwork was drawn up, we just had to complete the credit app (which was approved during the time the salesman went thru the Acura manuals) and sign the lease. About an hour. Smooth as silk.

Thanks again.

bvdj84 · October 2007

Good Job! That exactly what I want too, is a good experience without all the drama. But, it is frustrating when you want to get quotes, and they ask for you to call them for more information, like they need your credit app before giving you a quote. Ya, like I am going to let you hit my credit a million times to see what is the best deal someplace. Or, they assume, just because I am young, they assume, that I am not able to do it, so they don't even bother. Quoting is first, if we like, then we go to the next step. I am not signing a dotted line, and not know what contract I am getting into. It doesn't work that way. Buying a car is on our terms, not theirs. We all have to make a living, but where do you draw the line. Good Job, your probably that small percentage that had no problems.

pollofrito81 · October 2007

Rtoys,

I leased my 08 from Park Ave in August. The internet guy over there quoted me all the numbers over the phone on a saturday morning. I agreed, he faxed all the paperwork to my job that monday I filled them out faxed back, then I went in on wednesday to give them my trade and pick up my tsx. I didnt even see it or drive it till the day I picked it up. Was a really great experience.

rtoys1 · October 2007

Pollofrito81,

Congratulations on your new car!

Can you provide the name of the person you dealt with? (I have no confidence with the person that I met there on my 1st visit!) Also, I'm sure that other prospective buyers would appreciate it if you can share the #s or lease details for our reference (36 mo lease 12K/yr? cap cost? monthly payment? downpayment? etc). Thanks in advance

pollofrito81 · October 2007

Guys name at Park Ave was Nick Martinez. I'm sure he wont care Im dropping his name as its a potential sale. I paid about 700 over invoice which was the going rate in north jersey. DCH Acura sent me the same exact quote and is closer to my house, but Park Ave was quicker with the communication so I bought from them.

6sp manual 08 TSX/non nav
2k out of pocket
15k miles 36 months
352 a month.

Superpreferred Rate and 61% residual. My math says i bought the car for about 700 over invoice which is ok with me being it was an 08 and they had many 07's still available. Be advised I bought the car in August, thus using Augusts lease programs. IIRC just fee's ($1400) was something like 375 a month, so I threw down an extra 600 for some cap cost to get the paymet to ~350.

rtoys1 · October 2007

Thanks again. I'll be shooting for the same or close to the terms that you got. I'm planning on definitely closing a deal by the end of November 07.

Regards

acaruso22 · October 2007

I'm new to Edmunds.com, I found this site to research before leasing a 2008 TSX. I'm from lower Westchester, NY and just leased a 6MT non navi for $339/month, $1750 down, 12K a year for 36 months. The dealership is also eating the last 5 payments of the RSX lease I had left. Sounds like a fair deal?

columbusacura · October 2007

I'm finding this to be a bit odd. All three of these vehicles I'm looking at lease for about $375/mo on a 36-month lease, with no money out of pocket:

- 2008 Civic EX Nav ($800 over invoice)
- 2008 Mazda3 s Grand Touring (at invoice)
- 2008 TSX non-navi ($800 over invoice)

Is Honda aggressively setting the residuals or money factor? I mean, the TSX has an MSRP about $6,000+ more than the others... yet they lease out the same.

(And for the record, I think I could get another $500 off the Civic and TSX. The Mazda3 is S-Plan/Ford Partner Pricing. Conceivably the TSX could be cheaper than the Mazda3.)

columbusacura · October 2007

acaruso22:

Sounds similar to the offers I'm getting in Ohio. Do you know the actual selling price? Did you negotiate a lot, or a little? In any case, enjoy the car.

acaruso22 · October 2007

I know the owner of the dealership, I was given the car $100 over invoice. That deal was just thrown in the garbage though. Since my credit is less than perfect, the monthly shot up to $353 a month due to being Tier 2. Apparently, even with my sister as a cosigner (who, mind you, has 3 Acuras on her name including my RSX) we didn't qualify for Tier 1. :mad:

domain123 · October 2007

Posted this in the dealership review section but since it included lease/prices paid as well I figured it would be helpful here as well. Those perusing these boards are already a step ahead of the game so this story might be old news but figured I would share. For those who just want pricing details I have put them in bold below.

My sister went in to lease a new 2008 Acura TSX with Nav from Open Road Acura on Rt. 18 in East Brunswick. I don't necessarily blame the salesman because she really had no business leasing a car without having any idea what a car lease was but she ended up being taken for a ride.

The crazy thing is she felt like she got a deal because she "negotiated" the salesman down from a monthly payment of $480 per month down to $440 per month. This monthly payment wouldn't have been outrageous had she only paid inception, but rather she was paying $1000 out of pocket ....along with a $2000 trade-in allowance for her car (which by the way has a trade-in Blue Book of $4k). Based on what I later found out about the residual and money factor programs that Acura was running at the time that means she actually negotiated them DOWN to a couple hundred OVER MSRP.

Luckily the car was not on the lot and she had to leave without driving it away. (There is a GOD!)

As soon as she came home excited about the great deal she just got I reviewed the details with her and found out that:
1. She had no idea what the sale price of the car was
2. She had no copies of the paperwork she signed since they said "You don't get that until you pick the car up"
3. She had put down a thousand dollar deposit that was indicated to her as non-refundable

I immediately called Open Road Acura and spoke to the salesman. I asked him what the sale price of the car was and he responded with "Sir, your sister leased a car, she did not purchase it, so there is only a monthly payment not a sales price". I quickly let him know that I was not my sister and have leased a dozen cars before so it would be helpful if he changed his response quickly in order to preserve the deal. He started umming and awwing a little bit at that point, but the long and short of it is that he never told us what the purchase price was. I told him in order to have the deal proceed we needed to at least get a copy of what was signed immediately faxed over to us, or at least some indication as to the terms of the deal. I wanted sale price, MSRP, residual and money factor. He then gave some line about not being able to disclose the residual to the public, it was proprietary information, ya da ya da ya da. After I reminded him that without a residual you cannot calculate a lease payment and it would have to be presented on the lease paperwork anyway he said he would see what he could do.

To my surprise the next day we get a fax from Open Road about the terms of the deal. It wasn't the paperwork my sister signed. In fact it was actually a much better deal. Without even asking for a discount the lease payment miraculously went down to $389 a month. This reflected the same $1k out of pocket and $2k for the trade-in (that is worth $4k) and actually reflected a sale price - $29955.93. The sale price of $29955.93 reflected a whopping $335 discount off of MSRP (sarcasm).

So if $389 a month with $3k out of pocket reflects a discount of $335 off MSRP then that means her initial deal of $440 month means she was going to pay about $1500 over MSRP! Good thing she is a good negotiator, because otherwise their initial lease offer of $480 per month would have had her paying almost $3000 over MSRP!

Anyway, I guess Open Road had to give us some numbers at some point if they were going to expect monthly payments. Unfortunately for them we could put 2 and 2 together to see what a bad deal they had presented and couldnt in good faith continue to give them our business (even if they were now reducing the payments in the 11th hour).

Suffice it to say we took our business elsewhere. As soon as the dealers know you have done your homework all the quotes we got from other dealers in the area were at or a little above cost ( Sale price of $28,599) for the exact same car. I am sure we could have gotten the same or a similar deal at Open Road Acura as well but as you can imagine we had a sufficient bad taste in our mouth so preferred to go elsewhere.

She ended up getting the 2008 TSX with Nav from Precision Acura of Princeton for $395.03 per month / 1354.03 out of pocket. Sale price: $28599.89, 58% residual, money factor .00152, 36 months/15k per year, MSRP $31,005.
Morals of the story:
1. Dont go to any car dealer without doing your homework. Although some are decent and may not take advantage of you should be prepared for the worst.
2. Dont shop leases based on monthly payments, shop on sale price. You can get a Porsche 911 Turbo for $400 per month with $25,000 down and a trade-in of a year old Porsche Boxter. (Money factor and residual effect the deal as much as the sale price however as long as the lease plan is already pre-structured from the manufacturer there is not much you can do about it (except pick a different car). Dont know for a fact but I am guessing 3rd party leasing companies may allow the dealer to change money factors/residuals to pad margin)
3. If you dont understand what a lease is, or how to calculate one - bring someone with you who does.

I have leased literally a dozen cars and I still get confused.

acaruso22 · October 2007

Anyone else have any input on this deal I got? (in New York State)

2008 TSX non navi 6MT
$1750 down
$353 a month
12k miles year, 36 months

Even though my boyfriend's family is friends with the owner of the dealership, I still feel like I'm being taken for a ride. I've been doing the negotiating on my own, and I'm a young female. Any advice would be great! I'm actually going there this afternoon, so I want to be prepared to get a better deal if I can. Thanks!!

kyfdx · October 2007

$1750 down?

Is that the total amount due at signing? Or is that, Plus tax, plus fees, etc, etc...?

acaruso22 · October 2007

That includes taxes, bank fees title, 1st month payment.. all that stuff.

pollofrito81 · October 2007

I leased an 08 non nav 6 speed in jersey for 352
I paid 2k at signing but I also have 15k miles.
I paid 700 over invoice.

12k miles with just fees down should be in the low 330's with tier 1 credit.

To the guy whose sister got taken for a ride, i used to sell cars and it happens. People pay MSRP for 98% of the things they buy in life. Only with cars do people feel they HAVE THE RIGHT TO GET A DISCOUNT. Whenever i started negotiations with a customer my first pencil was ALWAYS sticker price. I only got over MSRP if i hooked the trade. FYI, the people i made the most money off of where the ones who loved me the most. It was the ball busting cheap skate grinders that were the pains in the [non-permissible content removed].

acaruso22 · October 2007

Yeah well thats the problem, I didn't qualify for Tier 1, I got Tier 2. Or else my payments would have been $339

kyfdx · October 2007

Seems like a decent deal... Pretty nice car for the price...

ericw2 · October 2007

Hello, Car Man. I live in Seattle, and I am thinking about leasing a 2008 TSX manual transmission with navigation, for 24 months. Could you please advise of the current residual, money factor, and whether there is any dealer cash available (and whether it's available in addition to the current best residual and money factor) for such a lease?

Thank you!

CarMan@Edmunds · November 2007

Hello ericw2. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Acura TSX with navigation with 12,000 miles per year are .00113 and 64%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. I do not believe that Acura is currently providing any cash incentives on leases of the '08 TSX.

Car_man
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manwonet · November 2007

We leased an 08 auto non-Nav TSX on 11/12 as follows:

$1150 due at signing
$335/mo (all taxes/fees included)
10K/year
36 months

6% sales tax

kyfdx · November 2007

Wow.. nice price..

I'd guess about $365/mo. with 15K/yr?

rtoys1 · November 2007

You seem to have gotten a great deal. Mine is as follows;

2008 Acura TSX Base - Black/Black
Super Preferred Rate
36 Months - 12,000 miles
$1,421.50 Total out of pocket at inception (pick up on 11/21/07)
$350 per month (includes NJ tax, DMV fees)

Please note that I got quoted for $377/month last month (Oct. 07),

I was pleased with these #s, and totally forgot to ask for the total cost of the car (how much over invoice). With the figures above, should I be concerned?

Thanks

seawied · November 2007

Hi there- I'm looking for residuals and MF for an '08 TSX manual w/ Navigation based off tier 1 credit, 15k miles/yr, for 36 and 48 months. I'm in Southern California. Thanks.

columbusacura · November 2007

Leased a TSX near the end of Oct:

2008 TSX non-navi
$0 due at signing
$369/mo.
36 month lease (35 payments), 10k miles per year

Selling price was $500 over invoice

ramstein317 · November 2007

I am currently leasing an 2008 TSX with Navigation for 3 years. I just got the lease back in August of 2007-and have about 6500 miles on it, and thinking to change the model. (Yearly miles, I am allowed is 24000 on the TSX). However, If I wanted to get a different model in the Acura lineup, and would want to lease that as well, would they let me do that? I am considering the RDX, TL but that's just a thought. What do you guys recommend? Thanks...

lmacmil · November 2007

I'd be surprised if Acura would let you out of a lease that early but it can't hurt to ask. At the rate you are driving, you will exceed your mileage limit by a healthy amount. If you drive 24,000 miles a year, you should probably think of buying instead of leasing.

nvandusen · November 2007

Looking at the above, i'm not fealing as great about what i just signed. Perhaps 20k miles/year explains all the difference tho?
Just leased a 2008 non-navii TSX auto for
$408/mo
$1500 down
includes tax/tags
36 mos
20k miles year (and 0.15 for each over which seems v good and i currently have a v loing commute)
sales price was $26,900 money factor when i started negotiating was .00113
residual (adj) 14950
I'm in PA

is this ok or did i just hose myself???

alsc7 · November 2007

Hi Car_man;
can you tell me the invoice for 08 TSX with navi. I am looking at leasing the TSX instead of buying because I am assuming the change in the model occuring in 6 months will effect the residual in 3 years. am I right?
Whats the MF and Residual for 3 yrs at 12K or 15K.

Thanks

wysguymd · November 2007

2008 Acura TSX Auto/Navi - Carbon Gray/Ebony
Money Factor: .00113/Residual 56%

36 Months - 15,000 miles
Base Cap Cost: $28555 (+acq fee, $29150 OTD)
Payment: $380/mo
Total out of pocket: $2063 (MD tax, tags, 1st payment)

liandyk · November 2007

2008 Acura TSX non Nav

36 month lease
15k/month
$379/ month
OOP- Taxes, 1st payment, tags ($1500)

alsc7 · December 2007

Hi Everyone;
Are these numbers correct for December? Can someone one confirm Please.

'08 TSX with Navi: MF .00068, Residual 60% for 10K, 58% for 12K, 57% for 15K

Thanks.

syen_007 · December 2007

Just saw the new lease offer from Acura:

2008 TSX
$299/Month
$1,499 Due at Signing
10K Miles/Year

It looks like a better deal than the lease offer from Honda:
2008 Honda Accord LX w/Auto
$259/Month
$2,606 Due at Signing
12K Miles/Year

Any possibility that the TSX lease offer would get better after X'mas? Or has anyone negotiated lower than the advertised price? Thanks!!!

wysguymd · December 2007

They seem to be selling around invoice right now. The new redesigned TSX will be in showrooms April/May, so Acura will probably be dealing on the current model all winter. Rumor has it the new model will have the turbocharged engine and SH-AWD. And a big price increase probably!

lmacmil · December 2007

"Rumor has it the new model will have the turbocharged engine and SH-AWD."

Do we have any reliable information that this is true? Seems like this would really hurt TL sales unless these features push the price above that of the TL. Kind of defeats the purpose of an "entry level" Acura.

witt168 · December 2007

Hi Car_Man,

Can you verify the money factor and residual for 2008 TSX W/O TECH for 36 month lease with 10K/year?

I was quoted 0.0068 and 60%.

Thanks.

bvdj84 · December 2007

I was offered

$309 per month for 36mth, 10k, with first payment due only.

kiln · December 2007

I just plugged some numbers into an online calculator and came up with $629.24 a month. :surprise:

MSRP $28905
Base Cap Cost $27159
Acquisition Fee (guesstimate) $450
Residual Value $17343
I used MF of .0068 (from previous post)
36 months

Where am I going wrong? :confuse:

krwest1 · December 2007

MF is .00068. An important zero was missing.

kiln · December 2007

Yikes! That makes a huge difference.

Does this sound right?

$28905 MSRP
$26631 Base Cap cost (lowest quote)
$595 Acquisition Fee
$27081 Adjusted Cap Cost
$17434 Residual
.00068 MF :shades: (I'm assuming this is for AHFC Super Preferred credit tier)

$324.64 a month (taxes included)

witt168 · December 2007

Hi bvdj84,

Where are you?

As you know some state has less tax which will effect the payment.

pollofrito81 · December 2007

There is a pic floating around of a heavily camo'd next generation TSX. As far as it's release date, the thing hasnt even been shown at an auto show yet. I could see it being shown in detroit in Jan as a concept, and in April at the NY auto show in production form. FWIW Acura/Honda show A LOT of their past designs as concepts even though they are production ready. That being said, a production version in April in NY would probably mean an Oct/Nov/Dec 08 release of the new 09.

FWIW I dont think they put the RDX's turbo 4 banger in it becuase it gets real bad gas mileage, like 19/20 mpg. I also doubt you see AWD, iniially. Also, expect it to go up in price. If you wait for the new one, you wont be paying 350 and under like current owners are.

CarMan@Edmunds · December 2007

Hi seawied. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura TSX with navigation and 15,000 miles per year are .00068 and 56%, respectively for consumers who qualify for its Tier 1+ credit tier. You definitely do not want to lease this car for 48 months. The special lease program is only available for up to 36. Its 48 month money factor is triple the special.

Car_man
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CarMan@Edmunds · December 2007

Hi ramstein317. I am sorry to say that it is going to be very expensive for you to get out of a 3 year lease after only a couple of months, even if you want to get another Acura. Unless you want to spend an arm and a leg, you are going to have to wait until you are close to the scheduled end of your lease to get something new.

Car_man
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CarMan@Edmunds · December 2007

Hi nvandusen. 20,000 miles per year is a high mileage allowance. This is definitely one reason why your payment is higher than the ones that you have seen mentioned around here lately. Still, the money factor that you mentioned is much higher than Honda Finance's current .00068 buy rate for this model (for consumers who qualify for its top credit tier). This means that either your credit isn't great, or the dealer that you are working with marked up your car's money factor to add additional hidden back-end profit to your deal.

The selling price that you were quoted looks great though. The dealer invoice price of a 2008 Acura TSX without navigation with an automatic transmission is $26,630. This puts the $26,900 that you were quoted at less than $300 over invoice, which is outstanding.

Car_man
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donahuesean · December 2007

Hey guys.

My wife and I just leased an 08 TSX automatic w/nav, and we love it. We are Acura loyalists through and through. That said, I didn't do my research before heading to the dealer (I know, shame on me) and now I wonder if I was treated fairly. Here's what I got. I would really appreciate someone weighing in on this deal. I just need to know if I got a fair shake. Any help would be appreciated.

Monthly Payment- $323
Sale Price- $30,420
Residual- 0.59
Money Factor- .00068
Yearly Mileage- 10K
Term- 36 Months
Out of pocket- $3995
Out of pocket price includes-
- First months payment ($323)
- CA Doc Fee ($55)
- Title and registration ($266.75)
- Acquisition Fee ($595)
- Cap Cost Reduction ($2,755)

The more I read these past postings, the more worried I get. Thanks again guys!

-Sean

Acura TSX Lease Questions

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