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Prices Paid: Buying & Leasing Experiences Acura TSX Lease Questions
750 messages, Last post on Jul 05, 2008 at 7:36 AM
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Replying to: jaxs1 (Mar 07, 2008 8:00 am) But, when the same $XXX over invoice pricing is used on both NAV and non-NAV cars, the difference usually comes to $35-$40 per month more for the NAV equipped unit.. Still, pretty pricy for a $2K option.. |
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Here in So Cal, just leased one for about the same price as the national advertised special, but with lower drive off and 12k per year. $301 plus tax $605 total drive off (1st month payment, $45 doc fee and DMV) 12k miles per year 36 month lease 57% residual
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2008 Acura TSX With Navigation! I was offered $324 with TAX. $2,000 down, 36mth, 12k, Does this sound good? Should I do it? This is about the same price for the Accord 4cyl, Navi I got... so they are tied, which car would you pick? $318 for the Accord, $324 for the TSX both with $2k down. Please let me know!! This will help!
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Replying to: bvdj84 (Mar 17, 2008 8:17 am) |
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Replying to: bvdj84 (Mar 17, 2008 8:17 am) |
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I am a first time lease buyer. I need help to know if I am getting a good deal on a 2008 TSX. 36 months 12,000 miles $2,187 down Quote of $328/month I was also quoted $405/ month for a 2008 TL Are these good deals? Which is better?
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Replying to: goodmaej (Mar 17, 2008 5:29 pm) |
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Replying to: goodmaej (Mar 17, 2008 5:29 pm) Unlike a car loan, the down payment on a lease doesn't save you any interest. All it does is shift money from the monthly payments into an up front payment and makes it easier for them to disguise a bad deal by focusing on the low monthly payment. You will also lose this down payment if the vehicle is stolen or totaled since insurance only covers the balance owed to the lessor. If all you had to lose was a few dollars of money market account interest, it wouldn't be that bad, but why put the money at risk of loss if the car is totaled and lose the interest too? It's also a lot easier to compare lease deals posted when there isn't a cap reduction involved to add confusion to the real cost of the lease. There is not much point for lease cap reductions and it has negatives. |
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Replying to: jaxs1 (Mar 18, 2008 10:06 am) I agree with your entire post except for the above statement. Since a down payment lowers the cap cost, the amount that you are paying interest on is lower -- (Cap Cost + Residual) * Money Factor. For example, a $1000 down payment on a car with a .002 money factor will save you $2 per month in "interest". Still, not enough savings to justify a down payment in my book.
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Replying to: krwest1 (Mar 18, 2008 12:07 pm) Most will also have to pay sales tax upfront on the cap reduction, so they would lose a few dollars of potential interest earnings by giving up that money on the first day rather than later with payments, but the biggest risk seems to be that you will lose the cap reduction if the car is stolen/totaled. I was also told that GAP insurance will not pay you back any of your cap reduction. It only pays any shortfall between the value of the vehicle and the amount still owned on the lease. That sounds like the lease company also gets to keep the extra money if your cap reduction makes the lease payoff amount less than they get from the insurance payoff. Do they write you a check for the excess if you put thousands down on a leased vehicle if the insurance company pays them more than the remaining payoff for the totaled vehicle a couple months after you start your lease and GAP reduction wasn't used? |
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