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Prices Paid: Buying & Leasing Experiences Acura TSX Lease Questions
1543 messages, Last post on Nov 10, 2009 at 4:21 PM
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Replying to: loonysup (Jan 06, 2009 4:47 pm) For 39 Months/10K miles per year plus 1605 capital cost reduction: residual = 63% (likely is 62% for 12K per year and 60% for 15K per year) money factor = 0.0025 MSRP = 29,920 Cap cost = 26,125 Payment = 299.00 plus tax For 12K miles per year the cost is $305.91 For 15K miles per year the cost is $319.76. Acura slightly lowered the money factor from 0.00263 to 0.0025 which still works out at 6%. Suprising to me is that the residuals didn't drop - last month the 36 month residual was 62% for 45K, this month it's only 60% for 48.75K - pretty much the same. Given the steep discounts people got during the past few months, these values are high. A little sub-venting going on? Maybe Acura feels that this will allow their dealers to make a few more bucks upfront. There were many below invoice deals made last month which may not be available now.
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Replying to: drtravel (Jan 06, 2009 8:43 pm) Is this a good deal? The cap cost is already being sold basically at invoice price hoping thats not including the cash down. Is there anything I can negotiate on? Having two cars at once with Honda Finance... Increasing the Residual Value & etc. Thanks for the help!!! |
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Replying to: drtravel (Jan 06, 2009 8:43 pm) I sent a counter-offer to the dealer last night to try and reduce the out of pocket so we'll see how that goes. David
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Replying to: loonysup (Jan 07, 2009 5:42 am) Go in, ask for a sale price, then tell them $0 down, then later tell them you will put some down, but you might not have to, earlier deals posted had great deals. January might be different in lease numbers, probably not by much though. Why do you see some deals for $199 a month, well look at the fine print, that you need a magnified glass to see it, you'll see at lease $1,000 due. lol  Be careful. Good Luck. I hate dealing, love getting a new car.
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Replying to: bvdj84 (Jan 07, 2009 8:08 am) David
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someone developed a quick form or template so people asking lease questions could have a basis of comparison. I never know if people are talking base TSX or with tech, the impact of taxes, amount of downpayment, etc. A simple template that standardized the info would give us everything we need to evaluate the deal. I am not expert enough in leases to develop it, so I leave that to the smarter posters. |
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Replying to: loonysup (Jan 07, 2009 1:42 pm) |
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Leasing newbie and new to the leasing spreadsheet, I received a quote on an 09 base TSX with the following terms: 12k/36mo MSRP: $29,920 Sale Price: $26,197 MF: .0025 Residual: 63% State Sales Tax: 6% $392.30/month (includes acquisition fee + taxes + titling/registration) Out the door and on the road with 1st months payment. What do I make of this? Given the sale price I feel like I could get them down $15-20/month. Any insight would be greatly appreciated.
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Replying to: djo1113 (Jan 08, 2009 12:31 pm) For a MSRP of $29,920, cap cost of $27,960, residual of 63%, 0.0025 money factor, 36 months, 6% sales tax - came up with a payment of $392.30. You state your sales price is $26,197 - so they are adding in the $595 acquisition fee plus $1,168 which covers license fees plus some sort of cash downpayment to get the cap cost. Not sure about how much your fees are. If I guess $268, then your actual sales price is 26,197 + 900 = $27,097. If this is all true, then a pretty decent deal.
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One of the dealers I've been negotiating with threw me a curve ball and proposed a different lease based on 39 months instead of 36 for a base '09 TSX, 15K per year.. I also got him to throw in the protection package. The price is 382/mo (39 months) with less than $600 at signing (just 1st month and DMV fees). I had previously gotten what I thought was a good quote from another dealership but it was for a 36 month lease. That one was going to be $386/mo with more due at signing since it's in a different state where document and DMV fees will apparently run me higher. So I was looking at maybe between 800-1000 to drive away. I'll say $800 for the sake of calculating below. So if I'm doing my math right, this means I could either lease the car for 36 months at a total cost of $14,882.01 or I could have the car for 39 months at $15,482.01. That's $600 difference but I'm getting the car for an additional 3 months. Is this as good of a deal as it seems, or am I just being fooled with tricky math? P.S. The residual on 39 months, 15K appears to be 60%.
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