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2013 Acura ILX Lease Questions

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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello lovecars003. The dealer invoice price of the car that you are interested in is $28,402. If we subtract the $1,400 dealer cash that is available on this car from that it drops to around $27,000. The selling price that you were quoted is even lower than that, which is a very good deal.

    Just make sure that the dealer uses the buy rate lease money factor to calculate your payment and you're in business.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dantewolfe. I'm not sure, but I can find out. Let's work a payment up on this car and see what we come up with.

    According to my calculations, if you were to lease a base 2013 Acura ILX Hybrid that has an MSRP of $29,795 and a selling price of $26,624 ($500 over invoice minus incentives) through Acura Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $279.

    So yes, it certainly looks like the payment that you are interested in is possible.

    Car_man
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    driver_330driver_330 Member Posts: 16
    mac churchill acura
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    mp1112mp1112 Member Posts: 2
    I was offered a deal on a 2013 ilx, base model. Lease is for 36 months, 10k miles yr. lease is $1000 down- includes all fees, tax and first month payment. Monthly payment is $278 per month. Price of car is $1100.00 below invoice. This is from a NYC dealership. Should I take this deal or
    Negotiate more? Any help is appreciated as this is my first lease. Thank you
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    dantewolfedantewolfe Member Posts: 3
    Damn you're good on those numbers. I went for a test drive and fell in love with the Blk Hybrid w/ tech pack. So far one dealer is really trying to get me in this car, but another was honest enough to tell me the 2014 will probably be out in a couple of months. I have always heard July is a good time to buy/lease cars as new models are coming. Any thoughts on this?

    Meanwhile here is the best quote I have on 2013 Hybrid w/ tech:
    Drive Off Amount:$750
    10,000 miles per year
    *Monthly Payment $334 - Plus Tax
    12,000 miles per year
    *Monthly Payment $363 - Plus Tax
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    brooklynaudibrooklynaudi Member Posts: 53
    This was my deal back in December...

    2013 acura ILX BASE
    MSRP- $26795--
    Your price- $24,510.94
    Money Factor: .00024
    Residual: .62
    Residual Value-- $16,612

    Doc Fee $199 (INC)
    Bank Fee$595 (INC)
    First pymnt ----- (INC)
    NY Sales tax- $857.63 (8.875%)
    12k MILES/36 Months
    $1000 Total Out of Pocket

    $255/month x36 months

    I went to Ramsey Acura in Ramsey NJ (past Giants stadium) did everything over the phone had a good experience. I got 6,000 more miles per month and paid $23 less a month then your deal.
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    beezer26beezer26 Member Posts: 3
    Hi Car_man,

    I just visited Honolulu Acura and was quoted the following for an ILX Premium Package:

    Sale price: $29,200
    Acquisition fee: $595
    TDS fee: $299 (they said this one could be waived)
    Capitalized cost: $30,094
    Money factor: 0.00024
    Residual: $17455.10 (58%)

    Monthly payment: $365+tax (not sure if this is rounded; my calculations come out to $362.49)
    Upfront cost incl. 1st month payment: $951

    I know this isn't a very good deal compared to most of the ones quoted on this board, but I heard that Acura Honolulu does not allow very much room for negotiation, as they have the monopoly on the business (they're the only Acura dealer in the state). They also had a "special market markup" of $3995 on the sticker price, raising the MSRP to $34,090. Do you have any knowledge of past sales in Hawaii that I can compare to, and what is your advice?

    PS: The salesman claimed not to know of the $1400 dealer incentive from the manufacturer.

    Thanks!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks dantewolfe. What selling price is the dealer using for this lease? It would be much easier to evaluate this deal with that information. At first glance though it looks like there's still some room to negotiate here.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Aloha beezer26. Hawaii is typically a difficult place to get a great deal on a new vehicle. I don't have any specific ILX sales examples to refer to from there, but chances are if you live in paradise you aren't going to get a deal that's nearly as attractive as what would be available on the same car in the Continental United States. Let's take a look at the offer that you were quoted...

    The good news is that the dealer is using the correct money factor to calculate your payment. Let's take a look at the selling price. This car's dealer invoice price is $28,402. If we subtract the $1,400 dealer cash (which I assume is available in Hawaii as well) that is available on this trim level from that it drops to around $27,000. So you're at around $2,000 or so over invoice.

    Given your location, I personally don't think that $2,000 over is that bad, but there's definitely room there if you can somehow work some negotiation magic.

    Car_man
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    beezer26beezer26 Member Posts: 3
    Thanks, Car_man.

    They first offered $29,650, then asked me for input. I said I was just throwing out a number ($28,700), after which they came back with $29,200. The fact that they split the difference leads me to believe there's some room to negotiate.

    One more thing: since the new 2014 models are due to hit the dealerships in a few months, this car is pretty close to being last year's model. Should I expect to get a better deal than, say, last summer when the car first came out? Conversely, if I wait until the 2014s come in, should I expect to get not as good an offer as I did for the 2013 (of course, not counting the expected higher cost of the 2014)? If so, what do you think the difference would be?

    Thanks again!
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    dleibow1dleibow1 Member Posts: 3
    Just wanted to let the group know. I just got into a lease.

    10k Miles
    36 Months
    $296 down (Just plates and DMV) They paid first month.
    $323 a month I am paying.

    Hopefully this was a great deal. Hope this helps everyone.
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    ilxdealhunterilxdealhunter Member Posts: 4
    That is a great deal. Does the 323 per month include taxes? Also, what state are you in? I am surprised because I can't seem to get anyone to wave the 595 fee.
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    beezer26beezer26 Member Posts: 3
    Hi Car_man,

    I was just browsing Edmunds Incentives and Rebates section, and I noticed that there is no indication of dealer cash available for the ILX 2.4 L 6-spd Premium Package. This is the only one of the ILX models that doesn't seem to have it. Is this true? If so, I assume this will affect my ability to negotiate the lease terms?
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    dleibow1dleibow1 Member Posts: 3
    The 323 includes taxes. They only had 2 ilx left in inventory and were looking to push them. Plus the color of the car wasnt what I initially wanted, so they made me a great offer. I got the car in NY.
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    ilxdealhunterilxdealhunter Member Posts: 4
    That definitely is a great deal, and I'd sign on the dotted line in a heartbeat! Its interesting that the 2013 models are being phased out, and they are offering me a higher rate than 2 months ago. Right now I am getting:

    595 Fee
    341.87 First Month (314 + 8.875% NY Tax)
    105 Title
    65 DMV - Transfer

    341.87 for 35 Months

    Previously I was getting about $20 less per month back in March for the monthly, and decided to see if I can do better. Decisions... Decisions...
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome beezer26. The arrival of the 2014 ILX is right around the corner in the Continental U.S. and probably not far behind that in Hawaii. You certainly will be able to get a better deal on an ILX now than you would have been able to get when it was first introduced. Acura has been steadily improving its incentives on this model for months.

    Dealers and Acura will indeed likely try to get more money for the 2014 ILX when it first comes out. How much is difficult to say, but it could be as much as two grand at first.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi beezer26. That could be an error. It's my understanding that all base 2013 ILX models have $800 dealer cash on them. There's $1,400 on ILX Premium models and $1,750 on ILX Tech models.

    Car_man
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    lr92002lr92002 Member Posts: 7
    I'm in the ft worth area and was quoted 370 month with 0 down. 36 month. Is this a good deal?
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    mp1112mp1112 Member Posts: 2
    thanks for the info. I managed to negotiate pretty much the same exact deal, except its $257 a month for 3 yrs. Also found the blue fathom one I wanted at a dealership in long island. Thanks again
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    bonedoc23bonedoc23 Member Posts: 4
    My girlfriend is about to sign a lease for a 2013 ILX premium package (in NE Ohio area) They valued her trade-in at $5100.

    She's putting down $3400 and getting $1700 cashback.

    They are asking $250.00 first month included, for 35 months.

    Compared to what I see posted above, it seems that with her down payment, she should be paying a lot less per month. Is she getting scammed? Please help because she has to made her decision on Monday.
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    ubuntu1ubuntu1 Member Posts: 13
    I am no expert here on leasing but a rule of thumb is: take out $25 to $30 for every $1,000 of down payment or trade in. Check out some of the postings here on what kind of deal people have got recently and then from the monthly payment, reduce at least $25 for every $1,000 downpayment and trade in.
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    lr92002lr92002 Member Posts: 7
    Ive been discussing a lease on a tech model, but they're telling me approx 330 with ttl down which is 2500? Does that sound right? Did you put anything down?
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    lr92002lr92002 Member Posts: 7
    I am now being quoted 339 monthly with 1000 down in an ilx tech. 36 month 10000 miles. Are there better deals out there, this is a 2013 model
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    ral2167ral2167 Member Posts: 791
    Off topic perhaps..but how does one lease as nice a car as the ILX and limit yourselves to 10k miles a year? Seems to me you're hardly driving the car much. No vacation trips of any sort. To me you're doing mostly local city driving, and who needs a nice car for that? Am I nuts?
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    dleibow1dleibow1 Member Posts: 3
    Seems like a bad deal. I paid 323 a month, with nothing down except title and plates which was around 230. The 323 included taxes.
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    lr92002lr92002 Member Posts: 7
    Wow that's good. What state are you in?
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    igozoomzoomigozoomzoom Member Posts: 801
    For almost 10 years, I lived less than six miles from my office. Every store or service that I needed was located somewhere along my daily route- grocery store, dry cleaner, bank, Target, fast food, gas station....I rarely needed to stray even 1/2-mile out of my way. I drove about three miles round trip daily for lunch, so my total daily mileage during the week was 15 per day, or 75 per week. I usually visited my family in rural North Georgia at some point every other weekend which was a 110-mile round trip.

    So my commute was 75 miles x 52wks (3900) and my weekend travel was 110 miles x 26wks (2860). That comes out to 6760 miles per year, which would leave 3240 miles to cover and roadtrips or going out with friends on the weekend. I rarely hit the 9000 mile mark each year. Just for the record, the six mile commute to work took at a little over 20 minutes under ideal conditions, but it was much closer to 30 minutes on most days.

    So it is possible to drive only 10,000 miles per year if your use is consistently low and unlikely to change. In reality, most drivers use at least 12,000 miles per year. My drive has been MUCH different for the last six years- just over 65-miles one-way to work! I have topped the 30,000 mile mark every year for the last six years, with a high of 32,800 in 2010. My 2006 Mazda3 5-door has 186,000 miles on it and I bought it new in 12/2005.

    One of the most common mistakes consumers make, especially the first time they lease, it underestimating how many miles they drive. If your lease only includes 10,000 miles per year and you actually drive 12,000 per year, you will owe $1200 at the end of the lease when you turn the car in (based on Acura's rate of $0.20/mile overage on vehicles with an MSRP of $30k or higher, $900 if under $30k MSRP). But if you up the lease mileage allowance to 12,000 miles per year, it will cost less than $10 more per month (less than $360 on a 36-month lease).

    I knew a lady who leased a Mercedes for 5-years with 12k miles per year allowed, or 60k miles total. She took a sales job barely one year into the lease and started driving over 30k miles per year. At the end of the 5-year lease, she had over 130,000 miles on it! The lease required a charge of $0.18/mile overage, which added up to $12,600! She was sick over the whole thing and was planning to take the money out of her 401k to pay for it, thinking she had no other choice. I took a look at her lease agreement and she had the option to purchase the car for $21k. For another $8400, she got to keep the 5-year old M-B and it was worth almost $20k adjusted for the high mileage.

    I've often wondered how many first time lessees fail to adhere to the lease limitations and owe a hefty penalty at the end of the lease term. Most of the ones that I have known try to blame the selling dealer or the financial entity backing the lease. But it is clearly stated in the contract that the lessee signed at lease inception, so the consumer's ignorance of the details of their lease is the true cause and the only one to blame!
    2015.5 Volvo S60 T6 Drive-E Platinum, 2012 Mazda CX-9 GT
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    litigatorlitigator Member Posts: 6
    I leased my 2013 ILX Tech with the Protective Package and all-weather floor mats for $0 down (dealer paid tag and first month payment) at $320/mo including tax (Sanford, FL).
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    lr92002lr92002 Member Posts: 7
    What was your purchase price on the car?
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    lr92002lr92002 Member Posts: 7
    What are people paying for a 2013 ILX tech, total cost whether lease or buy?
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    lj145lj145 Member Posts: 1
    Car_man,

    Do you have the current residual and money factor for 2013 ILX 2.0 Tech Package 36 months/ 12K per year? Thanks!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lj145. Acura Financial Services' July buy rate lease money factor and residual value for a 36-month lease of a 2013 ILX Tech with 12,000 miles per year are .00024 and 55% for consumers who qualify for its top credit tier.

    When negotiating your deal on this car, make sure to take advantage of the $1,750 cash incentive that is currently available on it.

    Car_man
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