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Acura TSX, Car Leasing, Sedan
#2327 of 2481 Need advice on 2012 lease
Jun 18, 2012 (5:48 am)
I'm looking to lease for the first time and never purchased a car or dealt with a dealer before, so desperately need advice.
Went to an Acura dealer in NY on Saturday looking to lease a 2012 TSX (open to base or tech package, but leaning towards tech package).
My salesman was fairly friendly, very blunt and to-the-point, no BS and not pushy, which I couldn't decide was a good or bad thing (expecting to be buttered up a bit more).
He downplayed the value of the tech package saying it was mostly a built in GPS and better stereo (maybe thinking it would be easier to close me on the base).
Bottom, line, here's the deal I was given off the bat (no negotiating on my part):
-$299/month for base, $349/month for tech package - I believe 10k miles per year but need to verify
-$495 GAP insurance fee
This seems like a reasonable deal to me, but I'm not sure if/where I have room to negotiate. After speaking with many people, they tell the GAP insurance is BS and to reject it. But after doing research, it seems it is standard or REQUIRED on leases with Acura in NY:
GAP (Guaranteed Asset Protection)
Although you may intend to keep a vehicle for the full term of a lease, an accident or theft could cause early termination. Most auto insurance policies pay the average market value of the vehicle, which may be considerably less than the remaining lease obligation. Leases from Acura Financial Services™ include GAP protection to cover this difference in the event of such a loss.
Vehicles financed with a retail installment contract from Acura Financial Services™ do not include GAP coverage, except in the state of New York. Clients financing vehicles outside New York state may be able to purchase GAP coverage from their dealer.
So I'm not sure if this is a negotiable item? If it's "included" should I be paying $495 for it?
I can't just jump into the lease with exactly what I've been quoted, but not sure what terms I have to negotiate with. The GAP charge was presented to me as required and may be based on my research online, but I'm not sure.
Any insight is appreciated!
#2328 of 2481 Re: Need advice on 2012 lease [star123]
Jun 18, 2012 (6:37 am)
Gap insurance is included in all Honda/Acura leases. If the dealer is not using H/A finance >>step away quickly. He is misleading you! H/A finance also includes a $1500 waiver of any damage at lease end. You should go for at least 12,000 miles a year. Good luck!
#2329 of 2481 Re: 2012 TSX lease [art112]
Jun 18, 2012 (9:00 am)
Sorry for late reply. Hopefully this info is still helpful.
I got my car from Riverside CA. Ask for the saleman that look like Michael Douglas. He is very helpful and Honest.
2012 Base TSX
Base payment $295+ tax 36 months
Residual amount $17,189.20
Money factor .00046
Mileage program 15,000
Due at signing $1,287.00
#2330 of 2481 Re: Need advice on 2012 lease [star123]
Jun 18, 2012 (9:15 am)
It's true that Gap insurance is included in Acura Lease. No fee.
Please run away from this saleman. Good luck.
#2331 of 2481 Re: Need advice on 2012 lease [star123]
Jun 18, 2012 (11:34 am)
Yes, tech package is just Navi + ELS surround sound system + backup camera, and yes it is greatly overpriced at $50 per month but this is what Acura has been doing with its navi equipped cars for a while already.
Nevertheless deals you were offered are not that bad if they include everything (tax, MV, Doc fees) and are for 12K miles per year.
I would offered them either $340 per month for the base model or $390 per month for Tech with EVERYTHING included. Bottom line - 36 payments of $340 or $390 per month, not a single penny more.
#2332 of 2481 Re: 2012 TSX lease [art112]
Jun 18, 2012 (3:09 pm)
Try Mission Viejo. They offered me a base TSX for under $27.5k last week. So, you add the acquisition cost of $595, it brings a cap cost of about $28.2k before any money down.
Remember the nationally advertised offer is $2k down and $299/mo on a 10k mile lease. The net cap is $28.2k, after the $2k drive off. If you take the price I mentioned above, you should be getting about the same payments (maybe $15/mo more for 15k mi/yr) without the down payment.
#2333 of 2481 Re: 2012 TSX lease [art112]
Jun 19, 2012 (6:05 pm)
I just leased a new 2012 tsx with technology, picked it up last week go to wheels to lease they are on McDonald Avenue, in Brooklyn, my wife will only go there after the dealer run around, or just call and ask for moshe, they are closed on Saturdays, open part of the day on Sunday, so easy and great prices, I did not pay a cap reduction, my price including taxes is $380, they handle the registration or transfer etc, ( they have a large operation and will not vanish, they move more cars in a week then most dealers move in a month
#2335 of 2481 Re: 2012 TSX lease [marts230]
Jun 20, 2012 (11:43 am)
"Wheels to lease" is a broker, not a new car dealer. It does not matter at all if they stay in business or vanish. Whatever happens to them you still will have Acura warranty and service.
$380 per month for TSX tech is a great price if it includes everything (MV, doc and so on) and is for 12K miles per year, still good for 10K miles.
#2336 of 2481 Re: Acura ILX Lease Data [theras]
Jun 20, 2012 (11:50 am)
I would suggest opening a separate thread for ILX.