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2013 and earlier-Acura RDX Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shula1286. 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 am sure that either myself or some other knowledgeable community member would be happy to give you their opinion of this deal if you let us know what these numbers are.

    If I was interested in leasing an Acura RDX right now, I personally would shoot for a selling price of around $500 under dealer invoice and then have the dealer calculate my monthly payment using Honda Finance's buy rate lease money factor of .00082 (for Super Preferred tier customers).

    Car_man
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  • mrblane1417mrblane1417 Member Posts: 3
    I don't have cost of car nor other info. But here's what I'm being offered:

    RDX w/ tech
    45k mile lease
    3yrs

    $2500 total down and $480/month, includes all fees and taxes. I'm in NJ

    Does this sound like a good deal? The reason I don't have numbers is that I'm using a service that negotiates the lease for me. All i have to do is walk in with a check and sign the papers and drive off with the car.
  • af145af145 Member Posts: 31
    No, this doesn't sound like a good deal, compared to what I was able to find. NJ taxes are lower than in NYC, as far as I know; on the other hand, yours is 15K/year, and I was looking for only 10K. Try Troy Dawson @ Park Ave Acura. Out of the NJ dealers, he seemed the most decent and gave me the best deal. See my previous posts...
  • mrblane1417mrblane1417 Member Posts: 3
    i spoke to troy and he was very easy to deal with. I think I got a good deal from him.

    RDX w/ tech
    36k lease
    15k miles
    $2500 due at signing
    for $460/month.

    I went to a few other dealers and no one wanted to compete with that.
  • angelina247angelina247 Member Posts: 17
    2 questions:
    Are you planning on purchasing at the end of the lease? If not, then it sounds like a decent deal, because 15 k/year is GREAT and most people end up getting the shaft at the end of the lease because of the extra miles they put on the car.

    and If you are thinking of purchasing what is the residual price you will have to pay at the end of the lease.

    If you are not purchasing and just want to turn it in at the end, it sounds pretty darn good. Just remember gas is over $4.00 a gallon and you have to use premium- so make them throw in something extra like wood paneling or a rear mat or all 4 mats . I love my RDX with tech package, but the gas is killing me and the mileage just isn't very good. I live in Southern California.
  • af145af145 Member Posts: 31
    Yes, with 15K miles this sounds fine. However, it would be a good idea to lower the at-signing amount and increase monthly payments accordingly. You don't get bonus points for pre-paying! If the car gets stolen, you are out $2500, pure and simple.
  • mrblane1417mrblane1417 Member Posts: 3
    Thanks for the help guys. I don't plan on buying it at the end of the lease. I will come back tomorrow and post the actual numbers after I pick up the car tonight. I don't mind paying the money upfront, despite knowing if my car was stolen, I'd be out of the downpayment. I'll be sure to try and get them to throw in something else, but if they dont, then I'm still happy.
  • danirosedanirose Member Posts: 1
    Hi,
    Just test drove RDX today really liked the drive...sales person offered a lease of $2500 total out of pocket, 12K, $400 per mth including tax, 36mths. Also dealer would pick up $700 of my current lease? Good deal? They have to get the car from another dealer. They do have one in the showroom with tech that I like...any ance of negotiating that to the above terms...since its on their lot?
  • af145af145 Member Posts: 31
    For a base, seems a little too expensive. What's the tax in your state? You should be able to shave $500 off the up-front. See zheka's deal somewhere in this thread.

    Now, be wary about "getting the car from another dealer"! RDX 2008 is being phased out; they may not be able to find the car you like! I got stalled by a dealership for 2 weeks, until it was almost impossible to get ANY 2008 car. Ended up getting the same deal from another dealer... haven't picked up the car yet, but at least he got me a VIN number... keeping my fingers crossed here. So, if you agree to the deal, keep pestering them about the VIN EVERY DAY; keep calling other dealers until they give you a VIN; be flexible if they can't find the right color combination.
  • clee10clee10 Member Posts: 2
    I just picked up my RDX w/Tech package for $399/mo (with tax is $425) and $1500 walk off. 36 month lease. Got the exact combination I wanted. This is a good time to get the RDX since the 2009's will be rolling in any day now. Thanks for all your help on this site. Good luck.
  • af145af145 Member Posts: 31
    You guys at the lala land are lucky. Here in Gotham City, no dealer offered to beat $1300/$469. Believe me, I tried. A couple offered to match it, but no one gave me a better deal. Right now they are pretty much out of their 2008 inventory. Besides, blue tech RDX's seem to be as elusive as Midas' hand.

    Congrats on your new car!
  • golfballgolfball Member Posts: 2
    On Monday night (7/7), I was negotiating terms on an RDX/tech and was told the money factor was .00082. The salesman gave me fair warning that 7/7 was a cutoff date for that rate.

    Sure enough, I am now being told the money factor almost doubled - to .00155 or so (dont remember exactly).

    I am no lease expert, but given the troubles in the car market and the upcoming '09 RDX release, it doesnt make much sense for Honda to make it tougher on the dealers/borrowers (which the higher money factor seems to do).

    Can anyone confirm the higher money factor rate and provide insight?

    BTW, the deal I am being offered today:
    RDX/tech
    36 month 10k
    MSRP: 41,405
    Sales Price: 35,995
    $2000 due at close
    $460/mo plus $30 taxes

    Any opinions on that deal one way or the other?

    Thanks
  • angelina247angelina247 Member Posts: 17
    Your're right. Something doesn't sound right. Are they saying that because they don't have many '08's left and they want you to purchase an '09? I would call around to other dealers to see what they say. With the economy being so bad it just doesn't make sense. People aren't purchasing CUV's in droves right now and are going for hybrids. I smell a dead rat. What do other people think?
  • af145af145 Member Posts: 31
    That for '08 or '09? '08 -- ripoff; '09 -- bargain. Although... wait a sec... why is MSRP so high? Are you in Canada, by any chance? Or just have lots of dealer-installed accessories? Then just ignore me... :-)

    On Edmunds, it shows a $1500 rebate to dealer with a finance plan, $2500 without. I'm not sure if $1500 applies to a lease -- maybe not. Before 7/7, it used to be $1000, but that SURELY applied to a lease. I'm picking up my RDX '08 today, so I'll talk to the dealer about it. The finance rate is still 1.9% on 24 and 36 months. I think the dealer is playing with ya...
  • af145af145 Member Posts: 31
    The dealer said that the $1500 would change the terms of the lease (MF and residual), so I'd end up paying more money. In fact, that's exactly what it sounded like on Edmunds.

    So, it may be true that the terms changed on 7/7. :-( My advice to someone shopping now would be to pay cash and take advantage of the $2500 rebate.

    I'll pick up the car in a few hours and give a more detailed account of the events. So far, I got terrific service from this dealer. Knock on wood. :-)
  • roadwarior8roadwarior8 Member Posts: 6
    It's actually .00154, but who's counting?
  • golfballgolfball Member Posts: 2
    Any ideas why Honda would increase the money factor rate?

    Doesn't seem like that is what a slumping industry would need.
  • roadwarior8roadwarior8 Member Posts: 6
    Interest rates are on the rise industry wide...even the credit unions interest rates went up .4%
  • roadwarior8roadwarior8 Member Posts: 6
    By the way, why is your MSRP so high...do you have accessories included in that?
  • af145af145 Member Posts: 31
    I figure, it is not beneficial for Honda to LEASE the 2008 RDX right now. Its resale value, when coming off the lease, will be depressed by the 2009's. They want you to BUY the 2008 vehicle; financing is certainly an option -- they do keep a 2% APR on loans. This way, you'll be the one taking a hit on resale when the time comes. I don't believe in the explanation that "all rates are going up". Conventional car loan rates were always far above 2%, and it didn't bother Honda until now.
  • af145af145 Member Posts: 31
    I have finally got the RDX, Tech, Blue/Ebony. 36 months, 10K miles; $1300 due at signing, $469/month. That includes the DMV fees and NYC taxes (8.375%). I love the car, but this is a topic for a different forum. :-)

    I got the car from Steve @ Feder's Acura. It is a 2-hour drive from my home, but it was worth it. Previously, Curry Acura gave me the same deal, but they never delivered the Blue color I requested. Right now they are still holding the $500 deposit despite several reminders; I'll give them a couple more days and call my credit card. I figure, they did not want to pay for the car swap. After 2 weeks of pulling my leg, they told me to take the Bronze/Taupe they had on the lot.

    Feder's, on the other hand, located the car and went through 2 swaps to get it for me. It was probably the last Blue 2008 RDX Tech left in 6 states. No other dealer could match the price and get me a Blue RDX -- and I called quite a few! I actually wanted Blue/Taupe, but nothing was left... I lost time waiting for Curry to deliver, the 2008's were phased out.

    Basically, great price and real customer service -- that's why I'd recommend Feder's to anyone looking for Acura in the NYC area and upstate NY.
  • collective11collective11 Member Posts: 6
    I just picked up an '08 RDX Base, 36 months, with 18k miles per year allowance. $2100 down (inc. 1st month, all taxes and fees), $476/mo. I wanted Blk/Blk, no substitutions, and found one at a decent price, or so I think. Is this a fair deal, post-7/7/08?
  • af145af145 Member Posts: 31
    Sounds really bad, actually -- unless you are in Canada. I was just offered 464/month (1300 at signing) to pick up the Tech RDX from the dealer's lot... told him to stick it -- I already have a car.

    However, I was shopping for 10K miles, and you have 18K. That may significantly change the residual. What's yours? Also, what's your state? Someone made a deal for 425 (1500 at signing) in LA, CA. Must be a different market... maybe due to high gas taxes in CA...
  • collective11collective11 Member Posts: 6
    I'm in New York City. The 18k does significantly change thigns; for one, at lease end, the warrranty is shot, because I'll be at 54k miles. At 10k, there's still 20k of mileage left on the warranty.

    Four other dealers didn't want to touch this offer. They all told me, "If you have this offer, take it. We cannot match or beat it."

    Any other opinions?
  • af145af145 Member Posts: 31
    What are the MF and residual?

    Actually, in NYC there are OTHER WAYS to comply with lease terms besides getting a lease with a really high mileage allowance. The additional cost is about $900, which is is much more than you over-paid (I figure, about $3000). After all, RDX Base is normally about $60 - $70 lower than Tech.

    If you are uncomfortable with OTHER WAYS, maybe it wasn't such a great idea to lease in the first place. Please don't take offense; this is just a friendly advice for the future. You probably have your reasons to lease, and I have no business telling you how to run your life.
  • collective11collective11 Member Posts: 6
    MF is .00154
    Res is 49

    I haven't taken the offer, I only said this is what I have gotten as an offer. I still haven't found anyone else who thinks there can be a better offer out there.

    I appreciate your input, totally.

    Thanks.
  • angelina247angelina247 Member Posts: 17
    You didn't say what state you are in, but I think it's actually a very decent deal. The RDX is a solid car. The black/black is beautiful (that's what I have in the tech edition) The 18k is great. Everyone who says you overpaid is going to pay on the other end. They always lure people in with low payments and low mileage - but that's how they stick it to you, because almost everyone goes over their mileage. There's almost no way you will go over your 18k. At the end of the lease you simply walk away and you are done (unless you're the type that tears up their cars). The people with the low mileage will be crying when they get that overage bill at the end of the lease.
  • collective11collective11 Member Posts: 6
    I am in New York City, but purchased it in Long Island last night. I am picking it up today. Actually, I had a VW Passat leased for 3 years with 18k miles before this RDX lease, and I went over by 2k (I negotiated a deal to pay extra miles at .08 a mile)! I drive a ton for my business, but as long as I can get a good deal on a hi-mileage lease, use it well (I do take excellent care of my cars) and get a new vehicle every three years, then I will do it. I also negotiated a deal to pay any mile overage on the RDX at .10 a mile, instead of what they wanted to do - .25
  • af145af145 Member Posts: 31
    Looks like you got the car for about 30300. It's a pretty good deal: invoice is 31220. You could've done better if you paid cash since there is a 2500 incentive currently running; there is also a 1500 incentive applicable to leases, and I think that's what your dealer is using. A problem with such "exotic" leases is that the competition is limited. Like you said, most dealers don't want to touch it.

    I'm not sure if Honda even defines the residual for 18K. Can you check, are you leasing from Honda, or some third-party company?

    Now that you explained it, I see that it totally makes sense for you to lease. So, congratulations on your new car, and good luck!
  • collective11collective11 Member Posts: 6
    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi golfball. Despite the fact that the 2008 RDX's money factor increased from .00082 in June to .00154, its July lease program is significantly better (around $30 per month on a typical model). How is this possible? I'll tell you. Acura is now allowing the $2,500 dealer cash that is is providing on the '08 RDX to be used in conjunction with its special lease program.

    Car_man
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  • af145af145 Member Posts: 31
    Car_man,

    A week ago the note on the $2500 incentive was that it couldn't be combined with a lease. Right now it looks like it can go with a lease, but not with financing. Why did the wording change? Also, what about the residual -- did it stay the same as before 7/8?
  • angelina247angelina247 Member Posts: 17
    Congratulations on a great deal! Now that you've had the car a few days, how do you like it? Fun isn't it.?
  • zheka212zheka212 Member Posts: 68
    Hello All,

    I apologize in advance for adding to the spam, but I simply can't take this anymore.

    "How do you like it?" Are you serious? Is there not an "owner experience" forum for that? Over the past 4 years I have used these forums to lease 4 cars for friends and family, and the info I look for is always the same:

    MSRP
    Invoice
    Residual
    MF
    Applicable incentives
    Miles allowed
    + state specific taxes and DMV fees, but this is really not necessary.

    Over the past 2 months, I think there have been a total of 2 posts (one of which mine, and not fully compliant with the above format, so GUILTY) that contain the above info.
    "Have I got a good deal? I'm being offered $2,500 drive off and $450, and I'm in CA"
    Is that really a question ANYONE except the author can answer? Can people possibly read at least SOME of the previous posts to see what info is necessary to compare deals? Do you honestly expect someone else to research local taxes and fees so they can decompose your deal and tell you if yours is "good" (i.e. is within the $500 range from invoice, which Car_man defines as being good)?

    Why are there discussions about the merits of leasing a car with 18K miles per year? Everyone in here is an adult (presumably) and has their own reasons for seeking a particular deal. Those not familiar with leasing can read the FAQ for the site and save a lot of reposts for Car_man ("no, it's not a good idea to give a large down payment" appears at least once per page).

    What I am trying to say, is that this community -- very useful in the past -- is becoming a place for people to run their mouths, not share information. If you want to let the world know you love your RDX -- update your status on Facebook, you would be amazed at the response you'll get. This resource (was) meant to provide a place to share deal-specific info so we can all be more educated consumers as a group -- and that requires sharing the data points I mention above. Take the time to read your lease and post them; make sure you get them from the dealer you are working with if you are still considering, and I promise you, you will be able to answer the "am I getting a good deal" question all by yourself.

    Car_man, I apologize if my views do not reflect the spirit of this forum, but I suggest going to a more "moderated" forum model, where posts that do not belong get flagged and removed, and the "I know nothing about leasing" questions get referred to the FAQ section so less time and screen space is waisted for everybody.

    I hope that when I look for a car for my dad next year, I can once again use these forums to get the info I need, and not read another sobbing story of how "I don't understand leasing at all".

    PS> please don't respond to this, this is only MY OPINION, but I would hate to start yet another message exchange UNRELATED to leasing an RDX, or leasing alltogether.
  • angelina247angelina247 Member Posts: 17
    Hello Zeke,
    Unlike you, I am fairly new to this forum and have found it immensely helpful. When I asked how the person liked their new car, it was simply a question. If someone with infinitely more wisdom about the forum wished to admonish me to go the the "owner experience" forum, I would have happily done that. Regardless of your insults, I think this forum is great and when I started looking for my car it helped tremendously. Because you are an expert on the site, I'd advise you teach us newbies when we post subjects that would be best served in other forums.
    You must have got up on the wrong side of the bed. Hope you have a better day.
  • cat25cat25 Member Posts: 6
    I have been offered a sign and drive (zero down) at $410 per month (plus tax) for 36 months/36K miles (for base car) and $450 per month (plus tax) for the same term and mileage for the RDX tech model. These are Miami dealerships. Are these good deals?
  • af145af145 Member Posts: 31
    Ask them what they mean by "zero down". Drive-off payment always includes the first month. What about the bank fee ($595) -- is it also paid up-front? Title and License? The difference between base and tech seems too low; it should be at least $50, usually $60.
  • cat25cat25 Member Posts: 6
    i was assured that it was a true zero out of pocket, which means no first payment (i only make 35 payments) and no other fees. The cap cost for the base model is $29,066. the difference between the base and tech was higher a couple of weeks ago when i first started communicating with the dealers, but it came down to the $40 difference. i can't get any other dealer to come down any further or to give me a better deal. what do you think?
  • af145af145 Member Posts: 31
    Off the bat, this sounds very good. However, to confirm that, I need residuals on both models and the Money Factor. Is MF 0.00154?
  • cat25cat25 Member Posts: 6
    i was told by the salesperson that the money factor on the RDX base is .00154 and the residual is 52%. He also told me that the money factor on the RDX tech is .0010 and the residual is 50%.
  • af145af145 Member Posts: 31
    So the difference in the MFs is responsible for the smaller difference in the payments for base and tech. OK, that makes sense. You are getting the Tech for about 32.1K including the bank fee, which is certainly a steal. For the Base, it looks like the Cap Cost you mentioned includes the bank fee. Once again, that's a very good deal.

    Having driven the Tech model, I'd say go for the Tech, but it's really up to you. Just be generally caucious: make sure there is no disposition fee or other strings attached to the deal, like mandatory service at that Acura dealer.
  • cat25cat25 Member Posts: 6
    Thanks. I'll let you know the outcome. That is my fear too; walking in to sign the papers and having all sorts of fees presented to me.
  • cat25cat25 Member Posts: 6
    I just got the Acura RDX Tech, 36 month lease, 10K miles per year, $410 (pre-tax) per month and $1339.00 down at lease signing.
  • mlassitmlassit Member Posts: 5
    End of lease on BMW x-3; can turn into Acura dealer and for $1400 I can get RDX tech w 3yr/36 mi lease for $510/m but includes add on of a luggage rack (I want). Dealer in VA . Thoughts on whether good or bad deal or somewhere in between.
  • mlassitmlassit Member Posts: 5
    Dealer in VA - 2008 AcuraRDXTech

    MSRP $37410
    Roof rails $587
    Discount $5597
    Difference $32400
    Tax $1048.77
    Tag and title $63.75
    Proc Fee $399
    Total $33,911.52

    $0 Down
    3yr/36kMi
    Pmt $517

    Residual value $18,331
    Money Factor 0.00101

    If someone could respond today, that would be great. From looking at other deals on the board, not convinced I'm getting a deal.

    Thanks!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi af145. Acura decided to start allowing the $2,500 Honda Finance bonus cash that it is providing on the RDX to be combined with its special lease program. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Acura RDX with 15,000 miles per year are .00154 and 48%, respectively. The residual value for a lease with 12,000 miles per year would be 2% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congrats on getting your new RDX, cat25. Thanks for taking the time to share the details of your lease with everyone. Don't forget to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well. Enjoy your new ride :shades: !

    Car_man
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  • gooch5gooch5 Member Posts: 14
    I am located in NY and went to my first Acura dealer today to price a lease for a RDX tech. I currently own an 07 CRV that I'm sick of and will be trading in.
    I wanted a 24month 15k mile lease. The only offer given by the dealer was $597/m!!!! and 1300 down. Is this dealer crazy or is it just me?

    Is a 24month lease a bad move? I like to change cars often and really don't want this car for 3 years.

    How would you go about negotiating a good price for an RDX?

    Seriously, any advice is really appreciated.
  • af145af145 Member Posts: 31
    Now is not a good time to lease an RDX, unless they still have the 2008 model. The 2009 is about $5K more expensive than 2008 since dealers would likely try for MSRP, and there are no incentives. All you are getting for the extra money is the power passenger seat!

    Basically, without knowing any details (cap cost, money factor, residual), $597 sounds adequate. But I certainly wouldn't go for that price. Just shop around (by phone) for a month or two.

    One point is that if you are so sick of the CRV, maybe you should try a different manufacturer instead of sticking with Honda. Just a suggestion, no offense.
  • sptcpasptcpa Member Posts: 10
    Gooch5
    I thought price increase was $500 for the base & $300 for tech.
    Steve
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