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Acura TSX Lease Questions

1553 messages,  Last post on Dec 01, 2009 at 3:15 AM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

What is this discussion about? Acura TSX, Car Leasing, Sedan


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#962 of 1553
RE: Jan Lease Rates [bvdj84] by gforce11
Jan 27, 2009 (1:49 pm)
Reply

Replying to: bvdj84 (Jan 24, 2009 7:38 am)

I think the red on the previous generation is what you are looking for (thats what we have on our TSX). Personally, I would opt for the black. I think it looks very elegant on the TSX.
#963 of 1553
Re: Accura TSX Residuals & MF [fer1] by Car_man HOST
Jan 28, 2009 (4:17 am)
Reply

Replying to: fer1 (Jan 17, 2009 2:53 pm)

Hello fer1. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Acura TSX with 15,000 miles per year are .00250 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. The numbers for an otherwise identical 39 month lease are .00250 and 60%.
 
When negotiating your lease on this car, make sure to take the $750 cash incentive that Acura is currently providing on it into account.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#964 of 1553
Re: Acura lease [dae928] by Car_man HOST
Jan 28, 2009 (4:19 am)
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Replying to: dae928 (Jan 17, 2009 10:08 pm)

Hi dae928. What you were told is not exactly true. Sure, technically you can get out if your current lease early if you really want to...but I am sorry to say that it will likely be very expensive to do so. In order to get out of your lease early, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.
  
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#965 of 1553
Re: Jan Lease Rates [dolsey01] by Car_man HOST
Jan 28, 2009 (4:22 am)
Reply

Replying to: dolsey01 (Jan 21, 2009 2:33 pm)

Hmmmmm, sorry for the confusion dolsey01. Honda Finance's current residual value for a 39 month lease of a base 2009 Acura TSX with 12,000 miles per year is 63%.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#966 of 1553
Re: Acura lease by bvdj84
Jan 28, 2009 (6:40 am)
Reply

Replying to: Car_man (Jan 28, 2009 4:19 am)

In my experience when trading leased cars, I have never had to purchase my "leased" cars from the bank. I just trade them in.
 
They looked at my pay off amount, then looked at my trade in value, and the difference would be what I would have to absorb. Fortunately I have had Honda's so the value kept quite well. I was never told to go purchase my leased car. That actually might put you out more money then if you just traded it. There by incurring interest and fees. Not to mention the more time spent doing all of this. I know that this would cause some conflicts with me. I certainly don't have that time. I do understand this would be another option, but feel this one would be more expensive on top of an already potentially expensive move on trading.
 
I usually wait about 2yrs into the lease, and it seems to be a good time with values to do a trade. It really is all about timing, this is coming from experience I have had with my leases. I current lease a car, I have had it 1yr this spring. Plan to trade mid summer or Spring, or atleast see where I stand. Of course, if it is too expensive to do it, then I will wait.
 
Don't mean to override anyone's advice, because it is certainly true. This is just my take and experience.
#967 of 1553
Re: Acura lease [bvdj84] by gforce11
Jan 28, 2009 (8:51 am)
Reply

Replying to: bvdj84 (Jan 28, 2009 6:40 am)

I concur, I would also like to add that if you keep your car in excellent condition and have put far less miles than you are contracted on your lease, then there is a chance you will even get some equity out of your lease. I have traded in my leased vehicles twice with no more than $1000 in negative equity (one was over mileage and the other had been in an accident). You can easily offset that by leasing another car that is currently offering cash rebates or just negotiate a low sale price. For those who are under your allowed mileage, you may want to consider taking the car in for a trade-in appraisal, you just might get some money out of your ride.
 
G
#968 of 1553
graduate program by dtorz21
Jan 28, 2009 (3:19 pm)
Reply
what are the benefits of the acura graduate program? i know when i leased my nissan it was a $500 rebate but i can not find any information on the acura version other than the requirements to qualify....
 
does it offer cash back, lower rate, something else?
#969 of 1553
Re: Acura lease [gforce11] by Car_man HOST
Feb 04, 2009 (3:10 am)
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Replying to: gforce11 (Jan 28, 2009 8:51 am)

Thanks for sharing your thoughts on trading in lease vehicles guys. The values of used vehicles have absolutely imploded over the past year. I personally would be shocked if anyone was able to get out of a lease significantly before its expiration date and actually make a profit at this point, but your mileage may vary.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#970 of 1553
Re: graduate program [dtorz21] by Car_man HOST
Feb 04, 2009 (3:18 am)
Reply

Replying to: dtorz21 (Jan 28, 2009 3:19 pm)

Hi dtorz21. I don't believe that Acura is currently offering any cash incentives to recent college graduates on its products, but you should check with a dealer to make sure that this is indeed the case. Its graduate program likely just consists of extending Honda Finance's best lease and finance rates to recent graduates who do not have much of a credit history. Please let us know if you find out anything different.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#971 of 1553
Re: Acura lease [Car_man] by bvdj84
Feb 04, 2009 (7:48 am)
Reply

Replying to: Car_man (Feb 04, 2009 3:10 am)

I traded my car back when the market was in a better state. Doing so now, well, that would be a tricky situation. Even your higher valued cars are going to not score as well for a trade. I plan to keep my current lease about 1-2yrs in. Then, I will see where I stand. I would never make a move that would put me a worse state, that would not be smart, and definitely not worth it. Even to get a new TSX. Well, maybe..lol

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