2015 Acura ILX lease question

ana8115ana8115 Member Posts: 7
edited November 2014 in Acura
I am looking around at lease deals on the 2015 Acura ilx base model.
Here are the lease details based on an add on the web:
MSRP: 27,970
Net Cap = 22,976.62
Monthly lease payment: 209
Residual value: 15,942.90
Term: 36 months
Miles: 10k/yr
Due at signing: 2,399 (Does not include tax, title and license)
Based on the above details, I calculated the residual percentage to be 57% and MF = .00035

I need to calculate my monthly payment for a 2015 Acura ilx base model for 15k 36mo with total sales tax, title and registration fees of 1,875 rolled into the lease.

The local dealer here has the sticker price on a 2015 Acura ilx base model at 23,982.
Using a residual percentage of 55% (my best guess), residual value of 15,383.50, and the money factor I calculated above of .00035, I got a monthly payment of 305.36. That sounds too low. Are my residual value assumption and money factor calculation correct?

Any help you could provide would be much appreciated.

Thanks!





Best Answers

  • kyfdxkyfdx Moderator Posts: 208,792
    Answer ✓
    ana8115 said:

    I am looking around at lease deals on the 2015 Acura ilx base model.
    Here are the lease details based on an add on the web:
    MSRP: 27,970
    Net Cap = 22,976.62
    Monthly lease payment: 209
    Residual value: 15,942.90
    Term: 36 months
    Miles: 10k/yr
    Due at signing: 2,399 (Does not include tax, title and license)
    Based on the above details, I calculated the residual percentage to be 57% and MF = .00035

    I need to calculate my monthly payment for a 2015 Acura ilx base model for 15k 36mo with total sales tax, title and registration fees of 1,875 rolled into the lease.

    The local dealer here has the sticker price on a 2015 Acura ilx base model at 23,982.
    Using a residual percentage of 55% (my best guess), residual value of 15,383.50, and the money factor I calculated above of .00035, I got a monthly payment of 305.36. That sounds too low. Are my residual value assumption and money factor calculation correct?

    Any help you could provide would be much appreciated.

    Thanks!


    You are correct. The numbers are .00035 MF and 57% residual.
    The numbers for 36mo, 15K/yr are .00035 MF and 54% residual.

    I'm not sure what you mean by the sticker price of the one at your local dealer being $23,982? Is that the selling price?

    If so, with an MSRP of $27,970 and a selling price of $23,982 and CAP cost of $25,857, the monthly payment would be $313.mo. Unaccounted for is the $595 acquisition fee.
  • kyfdxkyfdx Moderator Posts: 208,792
    Answer ✓
    ana8115 said:

    Thanks for the quick response! Yup, the $23,982 is the selling price. In my opinion, this looks like a descent deal considering I will come in with little (acquisition fee) to no money down. Can you tell me what the residual percentage is for a 24 month 15k lease in Texas? I've heard that ALG has a reference manual that lists residual percentages...is it common for libraries to carry this subscription?

    Thanks!


    24/15 residual is 61%.

    ALG does publish residuals, but they are only used by independent banks. They aren't valid for Acura Finance leases.

Answers

  • ana8115ana8115 Member Posts: 7
    Oh..I live in Texas
  • ana8115ana8115 Member Posts: 7
    Thanks for the quick response! Yup, the $23,982 is the selling price. In my opinion, this looks like a descent deal considering I will come in with little (acquisition fee) to no money down. Can you tell me what the residual percentage is for a 24 month 15k lease in Texas? I've heard that ALG has a reference manual that lists residual percentages...is it common for libraries to carry this subscription?

    Thanks!
  • ana8115ana8115 Member Posts: 7
    Thank you kyfdx for your time! The information you provided was very helpful.
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