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2013 and earlier-Acura RDX Lease Questions

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Comments

  • monkstermannmonkstermann Member Posts: 27
    What "deal with the above rates" are you speaking of please?

    Thanks
  • mftmrtmftmrt Member Posts: 17
    See my Jan 13 post re "the above rates"
  • anatolychanatolych Member Posts: 5
    Here is what i was offered in northern NJ
    Selling Price: 31500 for the base (2K off MSRP)
    Money Factor: .00146
    Residual: .58
    $409/month + $3000 down. Any feedback?
    This is 36mo 12K miles lease including the taxes / fees
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pittpanther. Honda Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura RDX without the Tech Pkg. with 15,000 miles per year are .00146 and 56%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, potato1. According to my calculations, if you were to lease a 2007 Acura RDX without the Tech Pkg. with an MSRP of $32,975 and a selling price of $30,550 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $408. 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.

    The 2.9% to 3.9% special financing program that Acura is providing on this truck is only for conventional loans, not leases. Having said this, Acura's money factor on it is pretty good right now. A factor of .00146 is equivalent to an interest rate of around 3.5%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mftmrt. the dealer that quoted you these numbers is being very straightforward with you. They are right in line with Honda Finance's current lease program for this truck.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mcb00. The money factor that you were quoted is right in line with Honda Finance's current buy rate for the '07 RDX. This is a good thing. The payment that you were quoted looks pretty good to me, but I would be happy to give you a more detailed analysis of this deal if you provide me with this truck's MSRP.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi anatolych. A base 2007 Acura RDX has a spread of around $2,900 between its full MSRP and its dealer invoice price. The price that you were quoted is probably around $900 or so over invoice, which isn't bad. Furthermore, the money factor that you were quoted is right in line with Honda Finance's current buy rate for this truck. The only problem that I have with this deal is the $3,000 down payment that you are making. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. Consumers who make a large cap cost reduction on their leases risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • mcb00mcb00 Member Posts: 2
    Thanks Car_man.
    The MSRP on the vehicle is $33665. The dealer quoted a selling price of $32500. This is for non-tech version of course.
  • mlb11mlb11 Member Posts: 31
    Here is what I got from a Chicagoland dealer:

    Gross cap cost: $33163
    Cap cost reduction: $2000
    resdiual: $18852
    rent: $2628
    leading to a 36 month/15k per year lease payment of $415 including tax.

    The agreed upon cost of the vehicle was $31480 and included $1387 in IL tax. Also included were all season mats, splash guards and wheel locks.

    Hope this helps someone!
  • lillotislillotis Member Posts: 3
    We put $4000 down, and are paying $350 per month TOTAL. This is for base model- no tech package.10K miles per year for 3 years. Did we get a decent deal?
  • fudge123fudge123 Member Posts: 12
    Made a down payment today on an RDX (NONTECH) Silver\Ebony
    I loved the RDX from the first time I took it for a ride, but couldn't get much of a deal. After a week of convincing myself that I couldn't afford the RDX and that the CRV was better for me, I went to the Honda dealer (next to the Acura dealer, same affiliation)to lease a CRV EX-L. I couldn't believe there was a 2 month wait! Fortunately my Acura salesman saw me gazing at the RDX after being turned away at the Honda dealer. He asked me in and made me an offer I couldn't walk away from. Don't know if it's a good one, but it's one I could afford. Here's the deal I got.
    MSRP: $33665
    Selling Price: $30774
    Money Factor: .00146
    Residual: .58
    Down Payment: $3000
    Mileage: 12k
    Payment: $365/month tax included

    Now I have to tell my wife!
  • nealgnealg Member Posts: 1
    Chicago area - 6.5%sales tax - looking to lease an RDX with a sticker of $34,419. We're looking to put -0- down with all taxes rolled in. We want a 36 month, 15k lease - we're new at this...Can anyone give me a bottom line price...I'm assuming we'd need to make 1st month payment at time of lease. Appreciate everyone's help!
  • jsevensevenjsevenseven Member Posts: 11
    Car Man,
    What is the residual and money factor for both the RDX base and RDX Tech Pack for 36 months and 10K miles per year.

    Thanks.
  • tsunetsune Member Posts: 2
    Did you get the car already?
    I just leased mine end of January in NYC. Just for comparison I got the non-tech with the same money factor, residual etc. but with 36mo, 12K, no money down, just standard tax, title, fees for $395.28/mo.
    Hopefully you can do as well or better.
    My final negotiation and deal closer was based on giving me 12K for the 10k quoted price of $395.28. Work out OK for me.
    Good luck!
  • acurabuyeracurabuyer Member Posts: 3
    Hi Car Man.
    Can you please tell me what is the current money factor and residual for RDX with and without tech. for 36 months for 10000 or 12000 miles.
    Thanks is advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, mcb00. Thanks for the additional information. A base 2007 Acura RDX without the Technology package has a spread of just under $2,900 between its full MSRP and its dealer invoice price. You were offered a discount of $1,165. This isn't bad, but if you are in an area that has a decent level of competition I would not be surprised if you were able to beat this price. Make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Acura RDX: Prices Paid & Buying Experience".

    As I mentioned in my previous post, the money factor that you were quoted is right in line with Honda Finance's buy rate for the RDX. This is a good thing. Make sure that the dealer you are working with uses this factor to calculate your truck's monthly payment. Also, there's nothing wrong with paying your vehicle's first month's payment, security deposit, acquisition fee, and any required state fees at signing, but don't make any sort of capitalized cost reduction. Consumers who make large down payments on leased vehicles risk losing them if their car or truck is totaled in an accident or stolen and never recovered.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new truck, mlb11. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lillotis. The best way to evaluate this deal is to look at your truck's selling price. I would be happy to give you my opinion of it if you tell me what the selling price is.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey fudge123. It looks like you got an excellent deal on your truck. You negotiated a good discount on it and the dealer used its buy rate lease money factor to calculate your monthly payment. Congrats and thanks for taking the time to share the details of your deal with everyone!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello nealg. Your RDX's lease payment will depend upon what sort of selling price you are able to negotiate on it. For now I will assume that you are able to negotiate a $1,500 discount on it. According to my calculations, if you were to lease a 2007 Acura RDX without the Technology Package that has an MSRP of $33,665 and a selling price of $32,165 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $445. The MSRP that I used in my calculations is this truck's correct MSRP. I;m not sure why the one that you mentioned is higher. Does the truck that you're interested in have any dealer installed options?

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, jsevenseven. Honda Finance's current 36 month, 10,000 mile per year buy rate lease money factor and residual value for a 2007 Acura RDX without the Technology Package are .00146 and 59%, respectively. The money factor for an otherwise identical lease of an RDX with the Technology Package is the same, but its residual value would be 3% lower.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, acurabuyer. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura RDX without the Technology Package with 12,000 miles per year are .00146 and 58%, respectively. The numbers for an otherwise identical lease of an RDX with the Technology Package would have the same money factor, but a residual value that's 3% lower. Honda Finance's 10,000 mile per year residual values for Acura models are 1% higher than its 12,000 mile per year residuals.

    Car_man
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  • eddieloveselwaeddieloveselwa Member Posts: 1
    Car_man,
    This is a great forum.. I have been lurking for the past month or so and i am ready to pull the trigger on an RDX lease.

    The dealer i spoke to in the Boulder, CO area touted the advertised 3k down, $379 a mos for 10k miles deal.

    When i presented some of the information from your posts regarding Honda Finance rate lease money factor and residual values, he gave me the typical, "You cant believe what you read on the internet" and "people are just trying to brag about deals better than they actually got" line.

    I know this is dealer speak and believe the information you post on this site. i would love to be able to throw some facts in his face but obviously showing him a link to this forum wont cut it. How can i actually get the dealer to admit the current Honda Finance rates??

    many thanks!!!!
  • rnmomrnmom Member Posts: 32
    Just got back from n NEw JErsey dealer
    2007 without tech pkg. 36months 10k ,with 1000 down money factor of 0...1460% $479 included is the 3 months I have left on my Honda lease (Looks like the same figures you have in previous postings) residual 58% etc Is this the best I could hope for also as most dealers a bit for pressure to sign before the end of the month. I was hoping to bargin for a better deal Do you think I can? If I decide to pay the 960 upfront the monthy becomes 450 HElp so confused
  • tsunetsune Member Posts: 2
    What is 3 months left on Honda lease worth? Hard to determine with that included in your price. As reference, in January I got 2007 w/o tech 36mts, 12k/yr, no money down, same money factor and I believe 59% cap redu rate for $395.28 in NYC. Don't believe you have a great deal. In order to get the payment down to $450 you need to put another 1K down? I did pay $1900 for tax, title, reg, prep etc to walk out with car but I assume you will have to pay that in addition to your money down. Good luck!
  • stephlitestephlite Member Posts: 14
    Most people here are talking about purchase price and I would love your help on lease prices. It seems that everyone here says you can probably get the car at/below invoice. Does the following logic make sense then?

    The invoice price on the RDX w/Tech is approximately the same as the MSRP used to calculate their current lease deal on the non-tech package ($369 per month/$2999 at signing). Can I then assume that I should be able to negotiate a lease deal for the Tech package at those same numbers they are offering for the non-tech package?

    Any help is most appreciated. Thanks!
  • mjo1mjo1 Member Posts: 16
    Here's my deal. Please tell me what you think.

    $32,112 cap cost (invoice + destination charge+ acq. fee)
    money factor of 0.00108 (2.59%)
    residual of 19,189 (57%)
    36 months, 12,000 miles
    No security deposit
    $476/month with NOTHING DOWN, and includes taxes, title, registration, etc. (all I do is pay the first month before I drive away) The monthly payment also includes the $773 payoff on my existing lease (4 months left @ 3.5% interest).
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks eddieloveselwa. I'm glad that you enjoy it so much. The money factors and residual values that I have mentioned in this discussion are definitely right. The dealer that you are working with knows that Honda Finance's current buy rate lease money factor for a 36 month lease of a 2007 Acura RDX is .00108 for consumers who qualify for its "Super Preferred" credit tier. If the dealer is unwilling to admit this, just tell them that you are going to work with a dealer that is more truthful with you. Negotiate the lowest selling price that you can on the RDX that you want and then have the dealer calculate your monthly payment using the aforementioned money factor.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rnmom. If you are confused about how leasing works, you definitely should check out the following informative articles that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. The will explain exactly how leasing works for you.

    Basically, you want to negotiate the lowest selling price that you can on the truck that you are interested in and then have the dealer that gives you the best price calculate your truck's monthly payment using its buy rate lease money factor. You never mentioned the MSRP or selling price of the truck that you got a payment quote on. If you tell me what these numbers are I would be happy to give you my opinion on this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stephlite. If I was in the market for an Acura RDX right now, I personally would shoot for a selling price of around $500 over dealer invoice. Let's use this as a guideline and calculate a lease payment on this truck for you. According to my calculations, if you were to lease a 2007 Acura RDX Tech that has an MSRP of $37,165 and a selling price of $34,645 ($34,145 invoice + $500) through Honda Finance right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment should be around $455. This will give you an idea of what sort of payment to expect on this model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mjo1. Dealer invoice is a good selling price for this truck. Plus the dealer that you are working with used Honda Finance's current buy rate for it to calculate your monthly payment. This looks like a very good deal to me. If you like the truck, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • stephlitestephlite Member Posts: 14
    Thanks Car Man. Very helpful. And so if I want to agree to their lease deal that includes the $2,000 cap cost reduction, then I'm looking at around $400 per month, plus tax. What are your thoughts on zero down vs some money down?
  • mjo1mjo1 Member Posts: 16
    Stephlite,
    Regarding putting money down, think of it this way....why give them a down payment when you could just take the money you might already have in savings, earning hopefully a decent interest rate and apply it towards the payment. You come out ahead. Plus, if something happens to the car - totaled or stolen - you'll never recoup the down payment. DON'T DO IT!!!
  • larryshomeworklarryshomework Member Posts: 1
    Hello Car_man,

    I've read through the posts and have a few questions regarding RDX lease terms.

    I've seen the MF listed at .00146 and .00108 - is the difference based on credit score or did the MF change between Feb. and March.

    I assume the MF is the same on both the RDX with and without the Technology Package?

    It appears that residuals vary between models with 59% for 36month/10k on RDX w/out Tech Package and 56% with Technology Package?

    Finally, when you calculate expected lease payments for posters (e.g. Stephlite above) at no money down are you including security deposit, first month and acq. fee in the payment or as money due at signing. In other words, is a no-money down payment calculation based on the assumption of no money towards cap-cost reduction or truly sign and drive with zero money out of pocket?

    Thanks in advance.
  • nav46nav46 Member Posts: 8
    We live in NYC and would love to know the name of the dealership you got such a great price at. We'd love to get the RDX ASAP and would go tomorrow for that deal.
  • gmoormangmoorman Member Posts: 1
    Here is what has been offered to me. Acura RDX non-tech, 36 months, 15k miles/yr, $0 cap cost reduction, $449 per month, which include tax. I don't think I can do much better than this, but I would love to hear some feedback. Are you out there, Car Man?
  • bb121bb121 Member Posts: 1
    I'm currently negotiating an RDX (w/out Tech Pkg) for my sister. I've been pretty lucky in getting the price down. Once we agree, I'll be asking the dealer to quote me a few lease options. I'd like to be able to calculate the options beforehand. A few questions...

    I just found out that my sister's credit score is 570. Is there anyway to find out what the money factor should be based on this credit score.

    Are residual values consistent or can they be manipulated by the dealer/Honda finance? Are they based on anything more than the combination of lease term and annual mileage?

    How might I calculate monthly payments on 12k and 15k lease options.

    Any help would be appreciated. Thanks!
  • troll21troll21 Member Posts: 1
    With all due respect, if your sister's credit score is only 570, she shouldn't be leasing a $30K car -- she should be paying down credit cards or working to get her credit score above 600 at minimum. In many states she wouldn't even qualify for a subprime loan on a mortgage with a 570. A bigger favor than negotiating with an Acura dealer would be to steer her to a Honda dealer and tell her to look at an 06 CRV.

    That said, you cannot calculate the lease without the money factor and the residual (which will vary based on the annual mileage). I also have to believe the money factor is based in part on her credit score.
  • lasher30lasher30 Member Posts: 18
    I would appreciate your expert opinions on this lease offer I got...

    Non-Tech RDX
    MSRP: $33,665
    Lease Payment: $437.26
    Lease Length: 36
    Miles/Year: 10,000
    Cap Cost: $32,500
    Acquisition Fee: $595
    Money Factor: 0.00108
    Residual: 58%
    Due at signing: $741.52
    (The 24 mo lease pmt is $539.29)

    Thank you very much.
  • tmg6ktmg6k Member Posts: 1
    Hi Car_Man - I was just quoted a price for a RDX at $30941. If I were to put $3000 down, what should my monthly payments be for a 36 month, 15,000 mi lease. Thanks in advance for your help.
  • ar14senalar14senal Member Posts: 1
    2007 RDX w/o tech
    MSRP $33,665
    Cap $31,790
    .00108 money factor
    57% residual
    36/12k term
    $456.06 monthly
    $169 reg & tags (3yr)
    $625.06 due

    or

    $385.52 monthly
    $3000 due

    I feel like the cap is just a little high, am meeting with the dealer this coming tuesday, she says there is a little room for movement. Whats everyone think though? Thanks!
  • rihoopsrihoops Member Posts: 91
    Bad Deal. My buddy just bought a RDXw/tech for 34750. FirstAcura in Seekonk, MA has RDX's w/o tech for 29995 on the web.
  • duanemanduaneman Member Posts: 8
    I have been quoted a $449/mo. lease on an RDX w/Tech with approx. $3600 out of pocket ($1000 dn, $595 bank fee, $449 first months payment, taxes at 8%, and tags). I was told that the money factor works out to be 2% APR. My calcs tell me that this is about $34,700 selling price or approx. $550 above invoice. Can I expect better pricing, and if so what is the best way to deal? Thanks for your help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, stephlite. I always advise consumers against making down payments on leased vehicles. Those who make one risk losing it if their vehicle is totaled in an accident or stolen and never recovered. If I was in your shoes I definitely would not make any down payment on this lease.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello larryshomework. Acura's lease program for the MDX is different in March than it was in February. You are correct, the money factor is exactly the same for models with and without the Technology Package. When calculate lease payments for consumers and say that they require no money down I mean no capitalized cost reduction. They would still have to pay their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment (unless it is waived), Honda Finance's $595 acquisition fee, and any required state taxes or fees at lease signing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gmoorman. 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 this truck's selling price 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 on 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 bb121. As you are probably already aware, a credit score of 570 definitely is not very good. It would be in your sister's best interest to try to get her credit score in better shape before leasing a new vehicle. At the very least, she should pull a copy of her credit report and check it for mistakes. If she finds any and has them corrected that may help.

    I believe that Honda's lowest credit tier, its "Select" tier is for consumers who have credit scores of 609 and lower. If she is approved to lease an RDX, your sister will probably have to use this credit tier's money factor to calculate her month;y payment. I do not know exactly what Honda Finance's money factor for a Select tier lease of an Acura RDX is right now, but it will probably be .00200 to .00250 higher than its best money factor for this model.

    Vehicles' residual values are set by the bank that you are leasing through and individual dealers do not have the authority to alter them. They based upon the model, term, and mileage that you choose. Vehicles that are leased through Honda Finance for 36 months with only 12,000 miles per year have residuals that are 2% higher than its 15,000 mile per year residuals.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lasher30. The money factor that you were quoted is right in line with Honda Finance's current buy rate for a "Super Preferred" tier lease of this model. That is a good thing because it means that the dealer that you are working with is not trying to mark your truck's money factor up to add additional hidden profit to your deal.

    Now let's take a look at this truck's selling price. A 2007 Acura MDX without the Tech package has a dealer invoice price of $30,942. The price that you were quoted is just over $1,5000 over invoice. This isn't terrible, but if I was in the market for this truck and was in an area that had a couple of Acura dealers I personally would shop around a little bit to see if I could beat this price. You don't have anything to lose by trying. Make sure to stop by the following discussion to see how much other community members have paid for similar vehicles lately: "Acura RDX: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tmg6k. I take it that this is an RDX without the Tech package. If so, the price that you were quoted is right around dealer invoice...which is an excellent deal on this model right now. The full MSRP of an '07 RDX without the Tech Package is $33,665. Using this MSRP and a selling price of $30,941 I estimate that this truck's zero down, pre-tax monthly payment should be around $426. I worked up a zero down lease for you because it is in your best interest not to make any capitalized cost reduction when leasing. Consumers who make one risk losing it if their vehicle is totaled in an accident or stolen and never recovered. If you really want to make a $3,000 cap cost reduction on this lease, it would lower the monthly payment to around $339.

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