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Prices Paid: Buying & Leasing Experiences Acura TSX Prices Paid and Buying Experience
4337 messages, Last post on Nov 27, 2009 at 10:30 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I thought I was getting a really good deal on a base tsx now I am not so sure. I did so much research and went in with what I thought was good information. I was quoted 26,616 from the internet. When I got to the dealer we went back and forth about 4 times before they came out with a $320.98 (tax included) a month for 36 months/10,000. I know I shouldn't put any money down but in order to keep the payments that low they said I would have to put 3000 down. I got the car but do not understand the lease agreement. I also paid $595 and $895 for a passive alarm and remote start. I paid that on top of the $3000. Then I had to pay NY taxes on the cap cost reduction. So basically it came out to $4973 down( including taxes and fees) which now seems like way too much. The agreement says: Gross cap cost $29774.65 - cap cost red. - 3242.58 adj. cap cost $26532.07 residual (65%) 19318.00 depreciation = $7214.07 rent charge $4341.21 (what does this mean?) total base pay $11555.28 36 mon = $320.98 Can you help me break this down so I know what I did or what I shouldn't have done? From the way this is, I can't see that I got the vehicle for 26,616. (plus the alarm 595 and remote start 895) HELP! Thanks very much! 
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Replying to: jdr10 (Dec 31, 2008 8:34 am)
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to say earlier that jdr10 got hosed, but held off. It appears to be apparent to others as well. Getting an okay deal prior to F & I (finance & insurance), then taking it up the (oh well) at that point doesn't yield a very satisfactory overall result. Just say no. Every time they ask -- just say no. Make an OTD (out-the-door) deal, including sales tax, license & any/all crap charges, prior to going to F&I. Walk if that isn't the number at the bottom of the deal sheet. |
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Replying to: jdr10 (Dec 31, 2008 8:34 am) But... to answer a few of your questions... You did pretty well on the selling price, it seems.. But, the $595 + $895 for the alarm and remote start? You'd have to want these pretty bad for this to make good sense on a lease. Since neither of those things are residualized, you pay the full amount over the 36 months of the lease.. That added around $45/mo. to your lease cost. Probably your biggest mistake. There are lots of reasons for not putting money down on a lease... but, it doesn't really cost you any more, assuming you don't lose the car to accident or theft early in the lease... But, an easy way to get the real monthly cost of the lease, is to divide your upfront payment, minus the first payment, by the term. $4973 - $320 = $4653 / 36mo. = $130/mo. approx.. $320/mo. + $130/mo. = $450/mo.. That seems pretty high.. but, if you deducted the $45/mo. for the alarm/remote start, you'd be at $405/mo. with nothing upfront but first payment... Not a great price, but decent for a $30K car.. Also, to answer your other question.. the "rent charge" is the finance portion of the lease payment... The interest, for lack of a better term.. (Depreciation + Finance charge + Tax) / term = lease payment. Hope that helps, kyfdx |
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Replying to: mittbb (Dec 23, 2008 3:13 pm)
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Hello, Can anyone tell me if they've gotten a good deal on a TSX w/o Tech in Southwest Florida? I'm having a tough time getting the dealers to budge below $28K. Thanks. |
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Got the dealer to this point... Is it a good deal? '09 TSX base, automatic and no extras for 27,720 Plus 835 local taxes, 389 other fees, 69 title fees = 29,013 total cash price delivered. I'm thinking I should still be able to drive it home for 27,000 (plus tax/doc/title). Thoughts please?
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Leased a base TSX with no add-ons MSRP was $29,720 Invoice was $27,381 Paid $26,777 ($604 below invoice) All I paid at closing was the acquisition fee, 1st month's payment plus doc/title fees. For a 36 month lease 15K miles per year (using mf of 0.00263 and residual of 62%) that came out to $350.84 plus tax. Acura's (actually Honda's) fiscal year ends midnight 1/5/09. Happy shopping! Note: 6 other dealers would not match this price, one would but he had added accessories.
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Replying to: drtravel (Jan 03, 2009 9:02 am) I'm unclear how you're coming to this monthly price. I come up with $379.35/month when I use your numbers. |
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Replying to: darknightx13 (Jan 03, 2009 1:32 pm) (Cap Cost – Residual Value) / Term = Depreciation (Cap Cost + Residual Value) X Money Factor = Interest Depreciation + Interest = Base Monthly Payment Residual value is 0.62 X 29720 = 18426.40 (26777-18426.40)/36 = 231.96 (26777+18426.40) X 0.00263 = 118.89 231.96 + 118.89 = 350.85 (plus tax) Those are the exact same numbers that the dealer came up with.
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