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2013 and earlier-Acura RDX Lease Questions

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Comments

  • nstrykernstryker Member Posts: 1
    Greetings,

    What do you think of this lease offer on 9/15/07:

    2008 RDX w/Tech Package
    Polished Metal Metallic exterior (2007's color Carbon Grey Pearl apparently discontinued) and dark interior.

    Cap cost of $34484 claimed to be $100 over invoice.
    $549.17 down (1st month + $55 doc fee)
    Money Factor of .00189
    10,000 annual miles
    Additions to cap costs of $891.78 ($595 bank fee through AHFC, $288 title (etc.), $8.78 tire)
    57% residual
    Monthly payment = $499.23 + tax = $540.42
    36 months

    OR - $3000 down for $399 + tax per month

    OR - Buy it for $710 a month on a 60 month loan

    I think that money factor translates to a 4.536% interest rate and I wonder why I can't get to 2.9% which I thought I saw advertised. My credit is good.

    Thank a lot in advance. I really appreciate it.
  • daninoahdaninoah Member Posts: 45
    nsryker,

    I think that deal sucks. You must have spent too much time at the office and not enough time looking for the best deal.

    LMAO!!!

    Frenchy from South Bay
  • gshocksvgshocksv Member Posts: 77
    Frenchy, so what do you think is a good deal? A close buddy of mine really likes the RDX and is hoping to get it within next month, can you share some info?

    Gordon
  • msrochmsroch Member Posts: 1
    I am looking at the RDX. Base Model.
    Here are the numbers my local dealership gave me
    Using Acura special on the RDX, The would be as follows:
    24mths 12k/yr = $511/mth $4,496 due at signing. 63% residual (All of the Acura lease numbers are based on a cap. reduction of $2,005.)
    36mths 12k/yr = $409/mth $4,591 due at signing. 59% residual

    24mths 15k/yr = $525/mth $4,536 due at signing. 62% residual
    36mths 15k/yr = $426/mth $4,659 due at signing. 57% residual

    The price of the car in this lease is $33,260. Money factor is .00189.

    The +/-4,600 perplexes me.
    This is what my salesperson told me it entails.
    The upfront charges include; 1st payment, acquisition fee, tax and dmv. (The $4,600 does include the down payment.) Acquisition fee is $595, it covers gap insurance, a $1,500 waiver to the car on turn in (3 different events of up to $500 each). Sales tax is the payment x 36 or 24 + down payment x 8%. and DMV is the rest.
    The DMV can very for new or existing plates, and the tax depends on the term.

    This seems like alot of $$$ down at signing.
    Can anyone make sense of this for me? :mad:
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, schweikb. I don't know what the exact dealer invoice price of the 2008 RDX is, but it probably has a spread of around $2,700 or so between its full MSRP and invoice price. You were quoted a discount of $2,315 on the RDX that you want. That is a very attractive price. It is less than $500 over dealer invoice. Just make sure that the dealer you are working with uses Honda Finance's current buy rate lease money factor of .00189 (for "Super Preferred" tier customers who pay a security deposit) to calculate your monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rdbravo. The $1,000 dealer cash that is currently available on the 2007 Acura RDX is mentioned in the following section of Edmunds.com: 2007 Acura RDX Incentives.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello lkp7. You never mentioned the selling price or MSRP of the RDX that you are interested in leasing. 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 what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle 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 these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi erey1. Since Honda is not currently providing any cash incentives on the 2008 Acura RDX, the price that you were quoted to purchase one should be exactly the same as the capitalized cost for your lease. Make sure that it is because $34,794 is a very attractive price for an '08 RDX. It is probably only a couple hundred dollars over dealer invoice. Just make sure that the dealer you are working with uses Honda Finance's current .00189 buy rate (for "Super Preferred" tier customers who pay a security deposit) to calculate your lease payment and you're all set.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi casolorz. If I was in the market for a 2007 RDX, I personally would shoot for a selling price of $500 over dealer invoice on a brand new one. The dealer invoice price of an '07 RDX with the Tech Package is $34,145. There is $1,000 dealer cash available on it right now, so aim for a selling price of around $33,645 and see what happens.

    As far as the demo vehicle goes, the problem that I have with demos is that dealers never seem to be willing to discount them enough for me to justify purchasing or leasing one over an otherwise identical brand new model. The exact discount that you should receive will depend upon the number of miles that the demo has, but I personally wouldn't bother with one for less than an additional $1,000 discount. If you aren't getting an absolute steal, why bother going with what is essentially a low mileage used vehicle over a brand new one that no one else has driven?

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bugginout. The $1,000 dealer cash incentive that you mentioned is currently only available on 2007 RDX models. Acura is no longer providing lease support on the '07 model. You could use the dealer cash to reduce the capitalized cost of a standard lease through Honda Finance. It is not currently providing any cash incentives on the '08 RDX, just a special lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nstryker. $100 over dealer invoice is an excellent price for a leased 2008 RDX. Manufacturers' conventional financing rates and lease rates are always different. The money factor that you were quoted is right in line with Honda Finance's buy rate for this model, so it is the best that one can do on it right now. This looks like an excellent deal to me.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I agree, msroch, that is too much money to pay at lease signing. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though your monthly payment will be slightly higher, you would be better off going with a zero down lease.

    Car_man
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  • casolorzcasolorz Member Posts: 88
    Can I expect to still get really low interest rates? or are those only if you pay msrp?
    Thanks,

    --Carlos
  • jtep24jtep24 Member Posts: 4
    So I just purchased a 2008 base model for the following terms:

    10K miles per year (only drive about 7500 a year)
    1000 down (only 250 cap cost reduction -- dealer would not go lower than that)
    $409 a month
    Did I get screwed?
  • jhyoojhyoo Member Posts: 13
    Can someone please tell what the residual and money factor is for an 08 RDX w/ Tech for 24 month and 36 month with 18000 miles?

    Thanks a lot,
  • shoefly1shoefly1 Member Posts: 6
    I'm also interested in Acura's lease numbers this month. Anyone know the MF & residual on a '08 base RDX?
  • shoefly1shoefly1 Member Posts: 6
    To be more specific, I'm looking at 15k a year for 36 mos.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Carlos. The special money factors that are available on leases of the 2008 Acura RDX have nothing to do with its selling price. Shop around with a couple of dealers for the lowest possible price on the RDX that you want and then have the dealer that you decide to go with calculate your monthly payment using Honda Finance's current buy rate lease money factor of .00189 (for "Super Preferred" tier customers who pay a security deposit at lease signing).

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jtep24. At first glance this looks like a pretty good deal to me, but it would be much easier for me to give you a detailed analysis of it if you were able to provide me with the selling price of your RDX.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, jhyoo. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Acura RDX w/ Tech with 15,000 miles per year are .00189 and 59%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 36 month lease are .00189 and 54%. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shoefly1. Through October 31st, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Acura MDX with 15,000 miles per year are .00189 and 57%, respectively for consumers who qualify for its top credit tier and pay a security deposit at lease signing.

    Car_man
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  • spd1980spd1980 Member Posts: 13
    Hi,

    I am hoping to find out if I am getting a good offer on an '08 RDX with Tech package and roof rack/ski rack. I went into a dealership in northern NJ and they said that they could give us exactly what we wanted for $420 a month including taxes and fees with a trade-in that was appraised at $5500.

    I know this may be vague since I don't have all of the exact numbers used (Sell Price, Residual, and Money Factor) but here are estimates of the numbers based on what I have read on this site.

    MSRP (Act.): 37,948
    Fees (Est.): 2,000
    Cap Cost Reductions (Act.): (Trade-in) - 5,500
    Additional Due at Signing (Act.): 0
    Residual (Est.): 57%
    Money Factor (Est.): .00189
    Term (Act.): 36 Months
    Mileage (Act.): 10,000
    Sales Tax (Act.): 7%

    I know without exact numbers I can't be given an accurate idea of whether or not I am getting a good deal. I was wondering if I am getting something inline with what everyone else is paying for the same vehicle or if it is greater or less than what everyone else is paying.

    Thanks for any help that you guys can give. This site has been very helpful in finding out the residuals and money factors which has been a big help in estimating various lease payments.
  • archivistarchivist Member Posts: 6
    Just saw 'deal' listed by JTEP24 (#217 above) and thought it seemed quite good. Has anyone else gotten similar Leases? I'm looking for almost identical spec - Base RDX with minimal extras and limited to zero downpayment. I've previously (currently) leased with HFC (Honda Civic). The best offer I've received is $494 + Tax & 1st month which is at least $85 more than JTEP24 ($409). The dealer will obviously go with Acura's $ 2999 down and $399 per month, but I don't really want to give him that much. Any suggestions or dealers that might be "hungry"?

    Dave :confuse: Colorado
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi spd1980. I see that you are considering trading in your current vehicle when you lease your new one. There's nothing wrong with doing so, but it would be in your best interest to have the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a down payment on your lease. I always advise consumers against making large down payments on leased vehicles. Those who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off going with a zero down lease, even though it means that your monthly payment will be a a little higher.

    The best way to tell how good a deal you are getting on your MDX is to take a look at its selling price. If you find out what this number is for me, I would be happy to give you my opinion of this deal.

    Car_man
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  • spd1980spd1980 Member Posts: 13
    Hey Car_man,

    Thanks for your reply. I have actually heard what you are saying about telling the dealer to give me a check for the trade-in rather than use it as a down payment. In our case this would mean that our payments would be way more than we could afford. I think ultimately using the trade-in will allow us to afford the car that we absolutely love. So in this respect are you saying that its better to pay more per month with less down as long as you can afford it? I'm just trying to make sense of everything since my father was telling me the same thing but I didn't quite grasp it since he didn't phrase it the same way as you.

    As for numbers, I have received a print out from another dealer with the figures. The details of the quote are below.

    '08 RDX Tech with roof rack and ski rack:
    Sell Price: 35,284
    Trade-in: 6,000
    Inception Fees (with Upfront Tax): 2,162
    MSRP: 37,410
    Residual: 55% - 20,575
    Money Factor: .001550
    Down Payment: 3,586
    Down Payment Tax: 251
    Vehicle Markup: 754
    Adj. Cap Cost: 31,698
    Term: 36
    Miles: 10,000
    Total Payment: 389.99 per month

    Please let me know what you think. Thanks again!
  • sugradsugrad Member Posts: 2
    I am working with a dealer in central NJ (Open Road) and looking to lease.
    2008 RDX Base (no nothing)
    Sell Price: Unknown
    Trade In: $6,000 (2003 TL-S needing bumper replacement and 82k miles)
    Money Factor: .002750
    Buy Back: $21,024
    Down payment: $10k ($6 trade-in + $4 cash)
    Term: 27 months
    Monthly Payment: $269 (inclusive).

    Is this a good deal or not ?
    Should I do a cash purchase instead ?(which I could do tapping into home equity loan and savings)

    Thanks for any advice.
  • spd1980spd1980 Member Posts: 13
    Just wanted to post details on a lease that I just signed at DCH Acura in NJ.

    2008 RDX Tech with Roof Rack and Ski Rack
    Black on Black

    MSRP: 37,410
    Sell Price: 35,662
    Lease Term: 36 months
    Mileage: 10,000
    Residual: 55% or 20,575
    Money Factor: .00155 (Super Preferred)
    Trade-in: 6,290
    MV Fee: 282
    Acq Fee: 595
    Doc Fee: 199
    Upfront Taxes @ 7%: 879
    First Payment: 390
    Total Monthly Payment Including Taxes: 390
  • sugradsugrad Member Posts: 2
    Pardon the ignorance but I never leased before.
    Is a lower money factor like the .00155 gotten by spd1980 better or worse than the .002750 I was offered ?
    I was trying to get an apr from the dealer but they said leasing arrangements don't use apr.
    So I need some help to figure out Deal or No Deal.

    Thanks
  • nschulman3nschulman3 Member Posts: 125
    I leased an 08 RDX with Tech two weeks ago from Springfield Acura in NJ for $506 a month, tax included, with $1500 total out of pocket. Although I am very good with numbers, the bottom line with me is always how much am I paying a month. Residuals and money factors are all well and good, but isn't the most important thing your monthly payment and coming up with as little as possible at signing? By the way, is this a good deal or did I get taken? By the way, although I like the car, the mileage is worse than I thought it would be and I wasn't expecting much.. I am getting about 10 MPG doing mostly city driving, worse than my WRX. Also, the acceleration is mediocre at best to me and I am used to turbos.
  • spd1980spd1980 Member Posts: 13
    sugrad,

    I am new to leasing also but from my research you want the lowest money factor possible. This is usually based on what the leasing company is offering at the time you are shopping and should be the same at all dealers. Car_man can probably confirm the .00155 number bu since it is the beginning of the month it should be the same for you if you credit is good and you qualify.

    As an example, using my exact lease deals in a leasing calculator my monthly payment would go from 390 to 450 a month or an increase of 60 dollars a month.
  • gurtybgurtyb Member Posts: 1
    Hi. Where did you get that price? Thats a great deal. I've been looking and haven't found anything that good.
    Thanks,
    Brian
  • leasekingleaseking Member Posts: 1
    Hi,

    $506 is hard price to beat but I work fo a leasing company and I can do this car for $519 a month for 36 month and 10,000 miles per year.
  • archivistarchivist Member Posts: 6
    Hi gang:

    Just got an 2008 RDX Base w/1620 Out of Pocket:

    33645 Gross Cap Cost w/Mats, Wheel Locks, Cargo Tray & Splash

    999 Cap Reduction
    146 Multiple Taxes & Fees
    475 1st month

    36mos @ 475 10K/Yr incl Tax (442 + 34) - 19668 Residual

    Not quite as good as I've seen but better than most using a Broker
    Honda Finance as Lessor. Did I get a good deal? Info available if desired.

    Dave :D
  • fourminefourmine Member Posts: 16
    Ok...I'm a real novice...I just quoted from a NJ dealer- $468 per month (total with tax)...$1506 total down...36 months...15,000 miles. This is for the RDX base...is this offer too good to be true? I've asked about additional fees....yada, yada, yada,...they keep saying that's it. Is there something I'm missing? I'm a single female and just a little concerned.
  • jpackianjpackian Member Posts: 6
    Hi,
    Dealer is offering a similar deal. (08 RDX Tech)
    Lease:
    $1566.00 down
    $507.85 (All Inclusive) a month for 36 Months/10 K miles
    55% residue
    Purchase:
    $37443.00 (All inclusive)
    $653.00 a month for 60 months (4.9%) with $3000.00 down
    What do you guys think?
  • cdb1cdb1 Member Posts: 4
    Does this sound like a good deal?

    2008 Acura RDX w/o tech
    MSRP $33,910
    CAP COST $32,956
    Res Value $19,328
    MF .00155
    Upfront: $1260 (first pymt, bank fee, doc fee)
    36 mo's/12k miles
    Final payment $455
    After salesperson talked to Fin Mgr again, reduced to $429

    Final two lease payments on my '05 Honda Accord ex v6 6 speed coupe totalling $560 would be paid by dealer and they would then return the car to Honda, said they didn't want the car....

    Also considering the Mazda CX-7
  • fourminefourmine Member Posts: 16
    Sounds like a deal to me. Are you paying the cap cost reduction? Where are you located? Just curious because the upfront charges I was quoted was higher. It may vary from dealer to dealer. Not sure.
  • rdxtechrdxtech Member Posts: 1
    This site helped a lot, so i figured i would post.

    2 months ago I leased for 36 mo, 12k, $525/mo with $1000 down (which took care of tax, tags, fees, 1st month payment) from Turnersville Acura in NJ. Excellent dealership and highly recommended.
  • gr8dealgr8deal Member Posts: 7
    I read that it's not a great idea to put any money down for a lease, but the dealership says the $3500 downpayment is required in order to get the 2.9% APR lease special that Honda Financial is offering through tomorrow, Fri 11/30. I do fall into the Super Preferred Credit Tier, but Im wondering whether the $3500 seems a little high?

    Here is the dealership's quote which includes the dealership paying my final December lease payment of $480.93.

    RDX-08 with Tech Package
    MSRP $37,410.00
    Gross Cap Cost $37,265.50
    Down Payment $3,500
    Residual Value 52% or $20,201.40
    Term 36 months
    Mileage 12K
    Monthly Payment $515

    Any and all opinions on this deal are welcome!
    I'm in MA and working with Acura of Boston.
  • archivistarchivist Member Posts: 6
    gr8deal:

    Personally, I think you're getting RIPPED :mad: ! I just got the base '08 from CA dealer (to Colorado) for $1635 incl $900 down plus dealer prep/trans and a payment of $476/mo incl tax. If you want more info PM me, I used a Leasing Company, so they made a 'fee' too - you should look for a new Deal-er :lemon: !

    Archivist
  • gr8dealgr8deal Member Posts: 7
    Yeah, now that I have time to do some research, I see that the dealership posts the MSRP as $37,410. So the quote of $37,265.50 for gross cap cost is only $144.50 below sticker! :blush: Even if I included the amount of the $483.93 final lease payment the dealership would cover, it's still only $628.43 under sticker.

    It seems more clear to me that knowing the True Market Value price can really save some bucks! The TMV for the RDX-08 w/Tech in my area is $36,585 without options. If I'm looking to add the body side moulding for $353.20, then the gross cap cost should be closer to $36,938 and not $37,265.50.

    HOWEVER, I'm still confused because I just ran the numbers on the lease calculator on this site and the calculator shows the monthly payment to be $604.58. If this number is correct, then a $515 monthly payment doesn't look that bad. Thoughts, anyone? :confuse: :confuse:
  • fourminefourmine Member Posts: 16
    I just signed for the RDX base with $1522 down (includes first month, bank fees, doc fees)...$464 a month (includes taxes) for 15,000 miles per year. My car doesn't come in for 2 weeks. I'm in NJ. Has anyone out there taken the "tire" protection plan with their lease?
  • archivistarchivist Member Posts: 6
    gr8deal:

    I'm certainly not Car_Man, but $ 515 is irrelevant if you give them $3500 up front! That's a bunch to "risk" if you total the vehicle driving out of the dealership! What's their Money Factor (mine was 0.00155) which works out to ~ 3.7% and is about the best I've seen. Your quoted Residual seems ok for 12k/yr (mine is ~19,800 at 10k/yr ~ 62%). Its the Cap Cost and Residual and Cap Reduction and Money Factor all combined that make the DEAL! Ya gotta look at them all.

    I still think they are giving you a 'Hose Job'. You may have a problem getting a comparable number on the 30th since new Lease Factors and Numbers won't be published till next week, but I'd sure check with another dealer for a quick quote. Again I actually used a Broker and got a better response than trying to negotiate directly. I had to push a bit, but they really came through! Just a thought! :surprise:

    Archivist
  • gr8dealgr8deal Member Posts: 7
    Thanks so much! I need to find time today to speak with the dealership with this info!
  • gr8dealgr8deal Member Posts: 7
    Dealer invoice price is $34,692.
    Paperwork says Gross Cap Cost is $37,265.50.
    Doesn't that mean that the dealership makes a profit of $2573.50?

    Plus Cap Cost Reduction is $2475.48 + 123.77 tax = Adjusted Cap Cost of $34,790.

    Dealer claims that the $2475.48 is what the dealership is reducing the car for ... If so, then where does the $3500 down payment go towards?
  • thejarviithejarvii Member Posts: 1
    Never leased before. Considering a lease of an 08 RDX base model through Honda Finance. Supposed to be for "well qualified buyers".

    MSPR 33,910 which includes dest. charges (I think I need to add CA sales tax to this.

    Net Cap Costs 31,193
    Due at signing 2,999
    Mthly pmts 399
    Opt to purchase cost 19,667
    Term 36 mths
    Mileage 10 K per year
    Mileage cost .20

    I want to try to up mileage to 15K per year. If I'm successful, would this be a reasonable lease?

    Thanks for the help and guidance.
  • witt168witt168 Member Posts: 23
    Hi Car_Man,

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

    I was quoted 0.00125 and 58%.

    Thanks.
  • sandy25sandy25 Member Posts: 65
    I just leased a 2008 RDX base in the NY area as follows:

    36 months/12k miles/mo
    $440/mo including sls tx
    Up front cash: 1st month payment of $440, Acquisition fee of $595, Registration fees

    Sam
  • infinitimninfinitimn Member Posts: 146
    Hi Sandy 25,
    What dealer are you leasing from? I'm in Essex County, NJ.
  • sandy25sandy25 Member Posts: 65
    infinitimn

    email me and I'll send you the name of the dealer.
    Sandy 25
    seisnitz@aol.com
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