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Acura TSX Lease Questions

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  • kilnkiln Member Posts: 41
    I was wondering if this is a good deal? Looks good to me, but someone said they got the car for $318 which is a big difference. When I plug these into the lease calculator I come up with $347 a month. :confuse:

    Payment $360.00 (taxes included)
    MSRP $28,905.00
    Sale price $26,188.40.
    Residual 59%
    MF .00068
    36 months
    12,000 miles per year
    No Money Down
    Fees were rolled into price of car
    Dealer Fee $598.50 (these are never cheap in Florida)
    DMV $240
    Acquisition fee $595
    State rental surcharge $67 (what is this?)
  • alphaprojecttalphaprojectt Member Posts: 2
    I'm wondering if this deal I'm being offered is a good one.

    The selling price of the least car is 26800. I'm being offered a lease for 349 a month with zero out of pocket. No taxes, dealer fees, or acquisition fees. Pretty much the dealer is stating that its completely zero, no money out of pocket what so ever. What do you guys think?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, alsc7. 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 top credit tier. The money factor for a lease with only 12,000 miles per year would be the same, but the residual value would be 2% higher. You can look up this car's dealer invoice price by visiting the New Vehicle Pricing section of Edmunds.com.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi alsc7. Please see my previous post for info on the TSX's current lease program. Thanks.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello witt168. The money factor and residual value that you mentioned in your post are right on the money.

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  • bvdj84bvdj84 Member Posts: 1,724
    How come we are able to get a $28-30k TSX for much lower payment than an 08 Accord EX-L with Navi, which is priced at $28MSRP. I know that the Accord is new, but what is really affecting the payment? I am looking between the TSX and the Accord, leaning with Accord, but the TSX is cheaper a month. They quoted me $421 for the EX-L Navi I want, sale price of $28,050. Explain this to me if you could,

    Also, would it be wise to trade my current lease when the mileage is almost up, but the actual lease isn't up til Jan 09. If I go out of mileage, I'll be hit with overage fees. I have an 06 Accord SE, with 28k on the odometer. I can have 36k total miles. I travel about 1k a month, so at some point, I think I need to trade this spring or early summer. let me know what the best thing to do. Thanks so much.

    Anyone else have some advice, let me know :):)
  • vital411vital411 Member Posts: 67
    I'm in the same boat man, the difference is the MF (money factor) which is the interest for a lease. The current MF on the Accord is .0027 ( or 6.48%) and the TSX is .00068 (or 1.632%).
    If i look at the EX-L Navi MT I want with a sticker of 27800, and say i can get it for 1,000 over Invoice at 26,328 the base payment is 252.56, but the interest is 117.62 making the total payment w/o tax 370.18 ( i took tax out as each state is different).
    Now look at the TSX Navi MT, with a stick of 30700 and an estimated sale price of 28700 ( my friend go this for this 2 months ago). The base payment is 319.67 (which is higher then the accord) but the interest is only 31.21, making the total payment w/o tax 350.87.
    So you can see it's not the MSRP and the sale price, or even the residual in this case as the Accord is currently 62% and the TSX is 56% (meaning with the TSX you are financing more of the car's value as they project it to be worth less at lease end then the accord). The Moneyfactor or interest is killing the payment.

    Now for me a few other things add in - one being the TSX needs Premium, Accord does not. Also the Accord gets about 2 or 3 MPG more then the TSX and it's cheaper to insure.
    Finally - and this is purley subjective - the accord is a bigger car, which i prefer.

    That's the long answer to your question. I've got a hard decision ahead of me, and i'll be making it this week.
  • mvs1mvs1 Member Posts: 462
    Thanks for this post!!! I've currently put myself in an almost identical situation.

    My wife has been looking for a replacement to her A4 and has looked at about 15 different vehicles, two Acura's being a few of them. Her lack of interest has actually peeked mine. I'm now looking at these same two vehicles. A few people in the TL forum had a similar situation where the TL ad TSX are now closer in price due to discounts than before.

    In any event this post was extremely helpful in breaking down costing and some other factors that I've been mulling over as well.

    Mike
  • bvdj84bvdj84 Member Posts: 1,724
    You know what though, as much as the TSX would be fun, I still want the Accord if I can get it for the price I want. I'll look for a car in the Spring, I'll go to a high volume dealer, the typically know what they are doing, and have more in stock to work with. My local dealer has a full stock, but not a market that is so big that they can keep them on the lot. They are strict on the price, They are had a blue coupe, which is the color I want, but they only one there. Hopefully, I will have good experience. I am not going to shop in the winter, I'll get more excited, when warm weather is back.
  • njacura29njacura29 Member Posts: 3
    Not sure if this is a good deal.

    2008 tsx no navi.

    36 month lease. 10 k mile.

    $500 out of pocket (includes first payment and all fees)

    $329 a month including all fees, taxes et al.
  • bvdj84bvdj84 Member Posts: 1,724
    Close, you should be able to pay just the first payment. plus, with 12k a year allowance.
  • kilnkiln Member Posts: 41
    What is the sales price of the car?

    Mine was $26,631 and the payments were still $360 a month (no money down). How are you getting it for $30 less a month? :confuse:
  • gs117gs117 Member Posts: 2
    Car_Man and others:

    I'm currently mulling the idea of either purchaseing or leasing an '08 TSX w/ Nav, but before I go to a dealer or two I'm curious to know why most people are getting the car very close to invoice. I know the '09s will likely be the new revised model, but aside from that what are some other reasons? Will I have a better shot getting a lower price for a lease versus purchase? Finally, is the $1500 incentive also available here?

    Thanks.
  • ramstein317ramstein317 Member Posts: 47
    All:
    I need some info. I am currently leasing the 2008 Acura TSX, with Navigation back from August 2007, through American Honda Finance Corporation. However, I am planning to get rid of it, and finance the "new", Accord or the 2007 with no miles Accord. Am I able to do this? What are the options that I am looking here? What do you guys think? One of my local dealers are getting rid of the 2007 Accords wayyyyyy below the under prices even on the EXL V6. I hope to hear from you all. Thanks!
  • njacura29njacura29 Member Posts: 3
    As I stated above. Just leased a new 08 TSX no navi for 329 a month 36 month 10k mile only 500 out of pocket (included all fees, taxes, first payment and registration for 3 years).

    Leased at Montclair Acura in Northern Jersey. Drove over an hour to get there, but well worth the trip. First class dealership. Great sales people. No games. They were up front with everything.

    Car drives great so far.
  • ferreiror83ferreiror83 Member Posts: 10
    I currently lease an 06 rsx. Its due to go back in december 08 and im on track to be over my mileage by about 7000 miles. I went to the dealership and they offered to take my vehicle in return the dealer would put me in an 08 TSX (msrp 28,190). Here are the details: 15000 miles per year for 36 months, $2,325 out of pocket, and a monthly payment of 325.

    What does everyone think?
  • nj2pa2ncnj2pa2nc Member Posts: 811
    since you seem to go over the mileage allowed why would you lease again-go for a loan they are having good rates right now. check that out first. I can not even consider a lease as I average 30,000 miles a year-
  • bvdj84bvdj84 Member Posts: 1,724
    I have seen deals like yours with $0 down on the lease, don't put that much down.
    keep lookin.
  • armishanksarmishanks Member Posts: 14
    Hi - here is what I am being offered for an 08 TSX Auto w/Navi and Protection Pkg:

    Monthly Payment- $339
    Residual- 0.0068
    Money Factor- .00068
    Yearly Mileage- 10K
    Term- 36 Months
    Residual - $18,293
    Out of pocket/drive off- $1499
    Out of pocket price includes-
    - First months payment
    - Doc Fee
    - Title and registration
    - Acquisition Fee
    - Cap Cost Reduction

    I have seen better deals for non-Navi. When you add all payments and residual, it's about $500 over invoice (with tax and dest. fee).

    A good deal?
  • david250david250 Member Posts: 7
    just received same offer. Is that the best out there? thanks

    2008 tsx no navi.
    36 month lease. 10 k mile.
    $500 out of pocket (includes first payment and all fees)
    $329 a month including all fees, taxes et al.
  • bigred007bigred007 Member Posts: 5
    Hi, This is the deal that I have negotiated so far. Is it any good ?
    Monthly payment $292 ( Tax not included ). They offered the deal till jan 2nd. Its a brand new automatic 2008 TSX ( not a demo ). I have multiple choices.

    MSRP - $28,905 ( AUTO without nav )
    Selling price - $26,500 ( destination included )
    Money factor - .00068
    Yearly Mileage -10K
    Residual - 60%
    Term - 36 Months
    Acquasition fee - Waived
    Security deposit - Waived

    Total due @ Signing - Tax , title and registration + $50 doc
    fee,First month's payment

    MONTHLY - $292

    Btw, I live in Minneapolis.
  • bigred007bigred007 Member Posts: 5
    Well I just signed the papers. Heres the numbers.

    Monthly payment - $284.12

    MSRP - 28,860
    Selling price - 26,500 ( Includes destination )
    Money factor - .00068
    36 months @ 10,000 / year
    Acquasition fee - waived
    Advertising fee - waived

    Due upfront - First months payment, $50 doc fee, tax and title @ 6.5%, Title and registration. Total came out to be around $1350

    Monthly payment - $284.12

    I am pretty happy with the deal. Couldnt have asked for more. Was a pleasure dealing with them. Only took a few emails and about half an hour.
  • david250david250 Member Posts: 7
    does the $284.12 include the tax? was this your net payment? i got a quote of $289/mo, not including tax.

    thanks,
  • kilnkiln Member Posts: 41
    What was the price of the car? Are you putting money down?

    I can't get them to go below $360 per month (tax included)
  • david250david250 Member Posts: 7
    MSRP - 28,860
    Selling price - 26,500 ( Includes destination )
    Money factor - .00068
    36 months 10,000 / year
    Acquasition fee - waived
    Advertising fee - waived

    Due upfront - First months payment, $50 doc fee, tax and title 6.5%, Title and registration. Total came out to be around $1350

    Monthly payment - $284.12
  • bigred007bigred007 Member Posts: 5
    No sir. I paid the sales tax upfront. You have to pay the tax upfront here in MN.
    Selling price was $26,500.
    Tax was about $671.

    My monthly payment is $284.12
  • bigred007bigred007 Member Posts: 5
    Price was $26,500. I am not putting any money down. Just paying the fees upfront. Fees include, tax, licience, title and registration and doc fee ($50). Total fees paid upfront about $1300.
  • kyfdxkyfdx Moderator Posts: 235,175
    That's a great deal.. :)

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  • david250david250 Member Posts: 7
    2008 none Nav TSX automatic
    $26,500 - did a lease:
    $292.45, before 6 % taxes
    $310.00/mo each month (this is drive-out payment, after everything)
    $1,000.00 down payment
    10,000 miles per year
    36 months
    58% residual

    I think I could have done better but didn't have time to hassle. Don't pay more than this, prices will continue to drop and in the spring, dealer incentives will start coming if you can wait.
  • armishanksarmishanks Member Posts: 14
    It looks like Acura just announced another TSX lease deal, similar to the previous, and that ends March 3.

    TSX Non-Navi Auto, model # CL9688JW:
    $1499 down
    $299 per month
    36 months, 10k miles per year
    Cap cost reduction $605

    Does anyone know the money factor on this lease deal? The previous was .00068 for customers with Tier 1 credit.
  • david250david250 Member Posts: 7
    .00035
  • bigred007bigred007 Member Posts: 5
    Thank you. I might lease another one if they really did lower the MF down to .00035. Can anyone please confirm it ? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gs117. The U.S. light vehicle market is a mess right now. Add to this the fact that Acura sales have been very slow and most Acura dealers are probably chomping at the bit to sell vehicles. If you are in an area that has a decent level of competition, you should not have much trouble finding a dealer who is willing to sell you a TSX at a price that's fairly close to dealer invoice. I don't believe that Acura is currently providing any cash incentives on the '08 TSX.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ramstein317. Why do you want to get out of your TSX lease so early? I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new car.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new TSX, njacura29. Thanks for taking the time to share the details of your deal with everyone. I'm glad to hear that you had a positive dealer experience. Don't forget to stop by the new Dealer Ratings & Reviews section of Edmunds.com to mention your thoughts on this dealer there. Thanks again and enjoy your new ride :shades: .

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi armishanks. The money factor that you were quoted for the TSX that you are interested in, .00068, is right in line with Honda Finance's December buy rate for it. This is a good thing. For January, this car's money factor was cut to .00035, but its residual values also fell so there should not really be any net effect upon its payment.

    You never mentioned the selling price of the TSX that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey armishanks. Acura enhanced its lease money factor on the 2008 TSX in January, but this was enhanced by a drop in its residual values. As you mentioned, its lease payments basically come out about the same. Honda Finance's new January buy rate lease money factor and residual value for a 36 month lease of an '08 TSX without navigation with 10,000 miles per year are .00035 and 58%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

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  • supersundsupersund Member Posts: 21
    Hello. I'm in Southern California and I visited I've received a few lease offers. Which makes the most sense?

    TSX w/ Nav:

    Option #1:
    Payment: $356 (including tax)
    Drive-off: $662

    Option #2:
    Payment: $335.88 (including tax)
    Drive-off: $1500

    Both are 36 month leases, 10,000 miles, pretty identical.
  • fairfax77fairfax77 Member Posts: 4
    Hi Car_man - your advice on this forum is invaluable. Thank you.

    Ahh, the selling price. Well, that is what I too am trying to determine.Here are the numbers from the dealer for an AUTO NAVI:

    CAP COST: $28,630.16
    GROSS CAP COST: $29, 225.16 - is this the selling price?
    NET CAP COST: $28,442.77

    $1499 drive off breaks down to:
    - $339.60 first month payment
    - $782.39 cap reduction
    - $68.25 sales tax upfront (8.75 tax rate)
    - $263.75 CA reg fees
    - $45.00 doc fee
    - includes Protection pkg ($275 value)

    - $339.60 per month inclusive of tax
    - 36 mos / 10k miles per year / gap insurance included
    - Residual $18,292
    - money factor .00068

    Another dealer is offering

    $29,480 sell price
    - $400 per month, inclusive of tax
    - 36 mos / 10k miles per year / gap insurance included
    - Residual $18,266.40
    - money factor .00035
    - includes Protection pkg ($275 value)

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey bigred007. Acura did lower its money factor on the 2008 TSX to .00035, but its residual values fell as well offsetting the improvement.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi supersund. Generally speaking, the less you pay at lease signing the better so given the choice between these two deals option one looks better at first glance. However, you never mentioned the selling prices that these leases are based upon. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you a more detailed analysis of these offers if you let me know what their selling prices are.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks fairfax77 :blush: . Yes, the gross cap cost should be your vehicle's selling price. The new cap cost is the selling price minus any down payment that you choose to make plus anything else that you want to roll into your lease. OK, so the selling price of the 2008 Acura TSX with navigation that you are interested in is $29,225.16. That's pretty good, it's equivalent to $669 over dealer invoice. If you are in an area that has a high level of competition, you may be able to get the dealer to shave another couple hundred off, but you are getting a reasonable deal. Just make sure that the dealer uses Honda Finance's new buy rate lease money factor of .00035 to calculate your monthly payment.

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  • supersundsupersund Member Posts: 21
    Thank you for your response. I have some more details for you to better analyze my lease.

    Car Price: $28,355 plus tax and license
    36 month lease: $330 plus tax
    Drive-off cost: $662
    MF: .00035
    Residual amount: $17,673 (57%)

    What do you think??
  • supersundsupersund Member Posts: 21
    Ok,

    I've received some updated offers.

    Price: $28,056
    lease: $346 including tax
    Drive-off: $750

    This is better, I assume?
  • acuragrl1acuragrl1 Member Posts: 5
    I'm looking at your offer and it seems better than the one I'm close to accepting. My offer is:

    2008 TSX w/o Nav

    $348/mo w/ 10K miles
    $356/mo w/ 12K miles

    The cost of the car is $26,585

    I was hoping to get the navigation but the dealer said it would be about $60-70 more, which seems like a lot more. I'm trading in my Acura RSX and they're giving me $1000 more than I owe on the lease for it and taking care of paying of the leasing company. I'm not putting any money down and I can walk out the door paying either $348 or $356/month based on how many miles I want to get.

    Thoughts? Advice? Any idea on how to get the Navi included w/o having to pay $60-$70 more?
  • kyfdxkyfdx Moderator Posts: 235,175
    Do those prices include tax?

    They look pretty decent, actually.. .given they are giving you equity from your current lease..

    $60-$70 more for NAV seems a little extreme, but $40/mo more. on an Acura lease for NAV is pretty normal.. Which is why I would pass on that option..

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  • acuragrl1acuragrl1 Member Posts: 5
    Yes, that includes taxes and everything. I'm walking out of there having paid only $356 of my own money for the 12K miles deal.

    Good? Really? I think that Nav sys price is steep....although i'm thinking of putting $1K down to get the 2008 TSX with 12K miles/yr w/ nav syst and seeing what that does to the price.

    Someone once told me if you're leasing a car, you want to leave the dealership w/o putting any of your own money down. What do you think?
  • kyfdxkyfdx Moderator Posts: 235,175
    Good? Really? I think that Nav sys price is steep....although i'm thinking of putting $1K down to get the 2008 TSX with 12K miles/yr w/ nav syst and seeing what that does to the price.


    Yes... the lease price is good.. (without NAV). Yes, the NAV system price is steep.. which is why I wouldn't get it..

    $1000 down will drop the lease price approximately $30/mo.. But, that doesn't make your cost any less.. Don't put money down. And, if you want a good lease deal, skip the NAV.

    regards,
    kyfdx

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  • acuragrl1acuragrl1 Member Posts: 5
    Ok, so now they're willing to give me the car with Navi and 12K miles per year for $383/month. That means they're charging me $27/month for the Navi. Think it's worth it now?
  • kyfdxkyfdx Moderator Posts: 235,175
    IMO... I wouldn't get NAV for the extra cost...

    If they can do $383/mo with NAV, they can probably do $345/mo. without it... Navigation is expensive, anyway... on an Acura lease, it is really expensive.. It has nothing to do with the dealer.. that is how Acura structures the leases..

    Would I pay $1400 to have an in-dash NAV for 3 years? No.. but, that's me...

    It may be more important to you...

    Good luck!
    kyfdx

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