Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Acura TSX Lease Questions
808 messages, Last post on Sep 06, 2008 at 5:01 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
|
|---|---|
I am totaly new to the leasing option. i live here in SC and more than likley going to be dealing with BRADSHAW acura(greenville, SC). 07 TSX w/Navi. i was thinking about putting maybe around 6K-8K downpayment(i have around 9K cash). OF COURSE i will be buying the car after the 36month lease was up. I want a lower car payment. and a lower buyout price. Can you haggle down the actual selling price to lower payments and buyout price. i am looking for the TSX i want is around 31K round about figure. What exactly is GAP insurance and do i need it? Is there ANYTHING you can help me with ideas, thoughts, QUALITY/SOUND advice. pleae help me and my wife. i dont always trust salesmen(used to sell used at a local car lot)(IM NOT SHADY  ). WHAT would my best option be on being money smart in getting the 10K 12K or 15K mileage lease. I am buying the car after the 3 year lease so i dont have to worry about the mileage; which one is cheaper(overall) and better for my situation??? Please help THANKS justin
|
|
|
Replying to: iceycherry (May 23, 2007 10:39 pm) 2) The experts advise putting minimum $$ upfront on a lease. Two reasons: a) If your car is stolen or totaled the insurance company may end up paying off only what is owed on the lease - you may not ever recover your upfront money. b) The interest rate on many leases is very low - if, for example, you do a lease with an effective interest rate of 3% it makes more sense to put your upfront money in the bank at 5% rather than make a large down payment. So, generally speaking, you'd negotiate the selling price of the car and then add Acura's $595 lease acquisition fee to arrive at your "cap cost". Your lease payments are based on this cap cost, and the residual and money factor (see below). Upfront you'd pay only tags, title, dealer document fees and your first month's payment. 3) Negotiate the selling price of your TSX, just as if you were buying it! (Check out this board and the Prices Paid forum to get a handle on competitive prices.) This is probably the single most important thing to know in leasing a car. So, yes, you can haggle down the selling price. However, your buyout price - which is called the "residual" - is set by Honda Finance (assuming you're leasing thru them) and cannot be negotiated. 4) There are some special TSX lease programs going on right now - but I believe they are regional and I can't see anything on Acura's website showing a special lease deal in SC. Car_man or dwynne may have more info on this. In any event, in addition to negotiating the selling price of your TSX you should get the from the dealer the "residual" (a percentage of the MSRP) and the "money factor" (a different way of saying "interest rate"). With these pieces of info I and others on this board can evaluate your deal and offer additional advice, if you wish. 5) Oh - unless I'm misinterpreting something in my Acura lease contract, GAP insurance is effectively provided for if you lease thru Honda Finance. (This just means Honda agrees to accept your insurance company's payoff if your car is stolen or totaled, even if that payoff is less than the balance owing on your lease.) |
|
|
Here is what I negotiated at the Brooklyn dealership today. I have not signed anything yet but they guy was stubborn to go lower than that, claiming he and his boss are already loosing..... 2007 Acura TSX without (navi) royal blue/black 12,000 miles for 36 months $26,900 purchase price 60% residual value $350 a month (tax included) 0 down 1,100+something at sign up (bank fees, tax, etc) thoughts? Thinking of going to NJ on may 31 to get a better deal... i'd appreciate suggestions, thoughts about this as well. thx
|
|
|
Replying to: carstyle (May 24, 2007 12:09 pm) Based on reports from around the country I think you're right to assume you can get a better price elsewhere (if you can find your color combination). Dealer is definitely not losing money on this deal! |
|
|
Is it worthwhile to lease a car in Virginia (vicinity of Virginia Beach) and bring back to ny, in terms of the prices, local taxes, etc? thx
|
|
|
|
|
Replying to: newbie22 (May 29, 2007 4:16 am) |
|
Is it fair to ask for $299 a month and 0 down payment, rest of parameters are the same as mentioned 2 posts ago? thx
|
|
|
Replying to: carstyle (May 29, 2007 3:06 pm) selling price $25,700 acquisition fee $595 cap cost $26,295 residual $17,256 money factor .00110 monthly payment $298.99 plus tax There are markets where you could negotiate the price to $25,700 or even a bit lower. (There's some factory-to-dealer cash this month.) Don't know if you can get it this low in your area, but $25,900-26,100 really ought to be doable from a motivated dealer (300-500 below invoice). But markets vary, and individual dealers within a market can vary significantly (there was a recent post listing a bunch of SoCal deals/quotes - big differences from dealer to dealer). Some folks have reported success taking a one page lease deal proposal to the dealer. Once they see you know what you're taling about in terms of residual, cap cost, money factor, etc. (because it's accurately spelled out in your proposal) and that you're ready to do the deal at your specfied selling price - they may be a lot more likely to get down to serious business.
|
|
|
Replying to: rujo (May 02, 2007 12:46 pm) Car_man Host Prices Paid Forum |
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Acura TSX Lease Questions
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2009 Acura TSX
Browse by Board
Browse by Topic
Today's Chats
