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Prices Paid: Buying & Leasing Experiences Acura TSX Prices Paid and Buying Experience
3816 messages, Last post on Sep 03, 2008 at 5:44 PM
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Posted this in the dealership review section but since it included lease/prices paid as well I figured it would be helpful here as well. Those perusing these boards are already a step ahead of the game so this story might be old news but figured I would share. For those who just want pricing details I have put them in bold below. My sister went in to lease a new 2008 Acura TSX with Nav from Open Road Acura on Rt. 18 in East Brunswick. I don't necessarily blame the salesman because she really had no business leasing a car without having any idea what a car lease was but she ended up being taken for a ride. The crazy thing is she felt like she got a deal because she "negotiated" the salesman down from a monthly payment of $480 per month down to $440 per month. This monthly payment wouldn't have been outrageous had she only paid inception, but rather she was paying $1000 out of pocket ....along with a $2000 trade-in allowance for her car (which by the way has a trade-in Blue Book of $4k). Based on what I later found out about the residual and money factor programs that Acura was running at the time that means she actually negotiated them DOWN to a couple hundred OVER MSRP. Luckily the car was not on the lot and she had to leave without driving it away. (There is a GOD!) As soon as she came home excited about the great deal she just got I reviewed the details with her and found out that: 1. She had no idea what the sale price of the car was 2. She had no copies of the paperwork she signed since they said "You don't get that until you pick the car up" 3. She had put down a thousand dollar deposit that was indicated to her as non-refundable I immediately called Open Road Acura and spoke to the salesman. I asked him what the sale price of the car was and he responded with "Sir, your sister leased a car, she did not purchase it, so there is only a monthly payment not a sales price". I quickly let him know that I was not my sister and have leased a dozen cars before so it would be helpful if he changed his response quickly in order to preserve the deal. He started umming and awwing a little bit at that point, but the long and short of it is that he never told us what the purchase price was. I told him in order to have the deal proceed we needed to at least get a copy of what was signed immediately faxed over to us, or at least some indication as to the terms of the deal. I wanted sale price, MSRP, residual and money factor. He then gave some line about not being able to disclose the residual to the public, it was proprietary information, ya da ya da ya da. After I reminded him that without a residual you cannot calculate a lease payment and it would have to be presented on the lease paperwork anyway he said he would see what he could do. To my surprise the next day we get a fax from Open Road about the terms of the deal. It wasn't the paperwork my sister signed. In fact it was actually a much better deal. Without even asking for a discount the lease payment miraculously went down to $389 a month. This reflected the same $1k out of pocket and $2k for the trade-in (that is worth $4k) and actually reflected a sale price - $29955.93. The sale price of $29955.93 reflected a whopping $335 discount off of MSRP (sarcasm). So if $389 a month with $3k out of pocket reflects a discount of $335 off MSRP then that means her initial deal of $440 month means she was going to pay about $1500 over MSRP! Good thing she is a good negotiator, because otherwise their initial lease offer of $480 per month would have had her paying almost $3000 over MSRP! Anyway, I guess Open Road had to give us some numbers at some point if they were going to expect monthly payments. Unfortunately for them we could put 2 and 2 together to see what a bad deal they had presented and couldn’t in good faith continue to give them our business (even if they were now reducing the payments in the 11th hour). Suffice it to say we took our business elsewhere. As soon as the dealers know you have done your homework all the quotes we got from other dealers in the area were at or a little above cost ( Sale price of $28,599) for the exact same car. I am sure we could have gotten the same or a similar deal at Open Road Acura as well but as you can imagine we had a sufficient bad taste in our mouth so preferred to go elsewhere. She ended up getting the 2008 TSX with Nav from Precision Acura of Princeton for $395.03 per month / 1354.03 out of pocket. Sale price: $28599.89, 58% residual, money factor .00152, 36 months/15k per year, MSRP $31,005. Morals of the story: 1. Don’t go to any car dealer without doing your homework. Although some are decent and may not take advantage of you should be prepared for the worst. 2. Don’t shop leases based on monthly payments, shop on sale price. You can get a Porsche 911 Turbo for $400 per month with $25,000 down and a trade-in of a year old Porsche Boxter. (Money factor and residual effect the deal as much as the sale price however as long as the lease plan is already pre-structured from the manufacturer there is not much you can do about it (except pick a different car). Don’t know for a fact but I am guessing 3rd party leasing companies may allow the dealer to change money factors/residuals to pad margin) 3. If you don’t understand what a lease is, or how to calculate one - bring someone with you who does. I have leased literally a dozen cars and I still get confused. |
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Replying to: punkyjunior895 (Oct 23, 2007 9:02 am)
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Replying to: pickledherring (Oct 25, 2007 7:44 pm)
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Replying to: punkyjunior895 (Oct 26, 2007 2:40 pm) There's only one factory that cranks out the EuroAccord/TSX - it'll probably take them a month to switch over to the new model. During that time there won't be any new cars shipped so the volume will go down and prices may stay at current levels. Yes, March and April next year will be the best time to get the last of the current gen TSXs but they won't be going for 22-24K OTD. 
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Replying to: tturedraider (Apr 30, 2003 4:16 am)
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Replying to: ctcarshopper (Oct 31, 2007 2:51 pm) |
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Like the post a couple above mine, I received a quote for a 2008 TSX 6spd non Navi of invoice (26,630) plus destination (715) for a total of $27,345. The response above mine says you should be able to do better? I would think getting invoice would be pretty good on an 08. Should getting a bit below be possible with the end of the year and new 09's coming soon? Price + TTL in Connecticut would be ~$29,500. Thanks.
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Replying to: jjanders (Nov 17, 2007 2:09 pm) |
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thanks for all the postings.. i went from AUDI a3 to SAAB 9-3 to finally my purchase of the TSX. Im located in SF, California. The price i got on the internet was $26,130 (including destination + wheel locks.. who cares?!?). and price i paid was $26130. no room for negotiation, no dealerships could beat this price Great purchase + great service. They got me paying $2k for extended warranty and $300 for car service every 5k miles, but i have 30 days to cancel this policy.WHICH i am going to do..These Japanese cars are made to last riight?? I tried going everywhere but no dealership could beat this price. They either matched it or said a little higher.. gluck. black on black. j[_] |
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I pick up my carbon gray 2008 TSX with navigation on Friday which I bought for $28,350 excluding taxes and tags. Out the door price of $30,000 in MD. I also got a GREAT price for my trade-in. If you live in or near MD go to Rosenthal Acura in Gaithersburg. They are great! 
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