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Prices Paid: Buying & Leasing Experiences Acura TSX Lease Questions
1551 messages, Last post on Nov 15, 2009 at 6:53 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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Replying to: darknightx13 (Jan 08, 2009 2:43 pm) I asked for quotes from 3 dealers that are about an hour from me, but I'm not having very good luck. One of them made it look like they were knocking over $500 off the out of pocket on the national program so it would be $1900 due at signing. When I read it more closely I noticed that it was 1900 + aquisition fee due at signing which brought it back to the $2499.....some "deal". David |
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Replying to: loonysup (Jan 08, 2009 4:11 pm) It's always best to just get a price quote on the car - that way you know whether the deal is good or not. Then you can work out the lease payment based on how much you want to put down as the residual and money factor is controlled by Honda Financial. Asking the dealer for a lease quote is just a golden opportunity for them to make some money and try to confuse the heck out of the process. I can hide an elephant in a monthly payment. Keep it simple, how much can you sell me the car for? Whether you pay cash, lease or finance - this is the number where you should start. IMHO |
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