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Prices Paid: Buying & Leasing Experiences Acura TSX Lease Questions
1556 messages, Last post on Dec 07, 2009 at 8:17 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: 326 (May 24, 2009 6:19 am) Rob
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Replying to: robertw477 (Jun 11, 2009 10:48 am) Remember never fall in love with something that cant love you back. Rob |
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Replying to: robertw477 (Jun 11, 2009 10:40 am)
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Replying to: ssonicss (Jun 12, 2009 8:19 am) Rob
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Replying to: robertw477 (Jun 12, 2009 10:57 am) Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss. For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost. The moral of this true story is to put as little money down as possible, ideally no money down. Here are some other things to consider: - Money down is taxable - Take the money you would have put down and invest it - Put your down payment in a savings account and use a portion each month to help make your lease payment |
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I've seen your info for 12k, but I wasn't sure what is a good deal for 15k TSX/Tech 36 month. How important is it to know the underlying detail i.e. money factor/residual? If I know the monthly amount and the amount down, can't I d=jsut compare that to what I've seen on this board or should I be worried about "hidden costs" or creative accounting? Also I do not possess a solid uinderstnading of the leasing terms. I am assuming that I want a higher residual % i.e. 60% is better than 56% and I want a lower money factor i.e. .00198 is better than .00215? The deal I got was $2,400 down to pay taxes( i know you advocate not putting anything down, but does that include taxes/title etc?). M.S.R.P. is $32,820, selling price $28,991. Lease is $388.00/month. Residual value is .56% and the money factor is .00198, approximately 4.7% with approved credit, client must have a credit score of 710 or higher. Is this inline
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Replying to: arlington2 (Jun 12, 2009 11:21 am) rob
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Replying to: robertw477 (Jun 14, 2009 6:42 am) |
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Replying to: kyfdx (Dec 06, 2005 7:48 am) 2009 TSX Tech $3999 down $299/month + tax MF was .00198 10k/year I didn't ask about the residual - I just wanted the down and payment. is this good?
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Replying to: 23109vc (Jun 14, 2009 3:39 pm) You only want sign and drive. Never put anything down. Honda leases are 12K standard.. Rob |
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