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Acura RDX, Car Leasing, Car Buying, SUV
#1 of 944 Acura RDX: Lease Questions
Aug 23, 2006 (1:52 am)
Hi everyone. Please use the following discussion to post any questions that you have about leasing an Acura RDX. Thanks.
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#2 of 944 Re: Acura RDX: Lease Questions [Car_man]
Aug 23, 2006 (7:14 am)
to get the ball rolling -- do you know where I can find lease terms for the RDX? Do you have experience in how a manufacturer would go about estimating residuals on a car that is brand new? Do they tend to overestimate or underestimate the residual? I'm getting the sense that you may not get the best lease deals on a car model that just hit the lot, at least compared with paying cash.
any thoughts would be welcome.
#3 of 944 Re: Acura RDX: Lease Questions [bbydad]
Aug 24, 2006 (9:13 am)
There's a lease incentive on the Acura site for $399x36 on the base vehicle. If I recall correctly, there's about $4500 down to get that price plus tax & the usual stuff involved. The dealers I've visited don't acknowledge the deal at all as maybe it involves a discount from list on their part. I'd love to hear what the money factor & going residual rate is from the factory if anyone can get that info.
#4 of 944 Re: Acura RDX: Lease Questions [gofitguy]
Aug 24, 2006 (11:21 am)
money factor .00293
$645 monthly payment
money factor .00293
$559 monthly payment (from memory)
these payments include 5$ MA tax.
#5 of 944 Re: Acura RDX: Lease Questions [rmse46]
Aug 24, 2006 (1:51 pm)
rmse46 - Thanks for the help. I spoke to the dealer today & he said the residual on 36 months is 62% & 51% on 48 months. This is in IL. I hope this info helps everyone shop for the best deal. Note that the invoice price is now available here on Edmunds.com, too.
#6 of 944 Re: Acura RDX: Lease Questions [rmse46]
Aug 24, 2006 (6:03 pm)
Hi rmse -
as a leasing expert, what is your opinion of these lease terms, especially when compared to other vehicles. i get the sense that they are very high compared with BMW. are you still thinking about an RDX?
#7 of 944 Re: Acura RDX: Lease Questions [bbydad]
Aug 25, 2006 (5:14 am)
Leasing Expert? Good question.
I am a financial planner by trade and I have leased a number of vehicles over the years. The last several have been through BMW financial services. My last lease was a re-lease of a my 2001 330i. The numbers were so compelling that it made financial sense to keep the car. This car is almost 6 years old and 75K miles, I am ready for a change. FYI, anyone interested in this car, there is an awesome deal available.
Anyway, the RDX lease terms are horrible compared to BMW. So far the money factor on Acura is high about a 7.03%. You need to keep in mind that with leasing your are financing 100% of the capitalized cost and paying it down to the residual value.
With BMW, the money factor (interest rate) is lower and because residual is based on MSRP and most of us can purchase for less than MSRP, the leasing numbers look better.
In many respects, you will be able to lease the more expensive BMW for less than the RDX.
I really like the RDX but I have have a hard time paying the MSRP and money factor. My lease is not up until March, so I have time but like many of you, I have been following the development of this car for almost a year.
#8 of 944 Re: Acura RDX: Lease Questions [gofitguy]
Aug 25, 2006 (5:16 am)
I ran the numbers and they are not different than the lease factors that I quoted already.
The only difference is that my numbers assume 15k annual miles.
#9 of 944 Re: Acura RDX: Lease Questions [rmse46]
Aug 25, 2006 (5:37 am)
that's what I thought. the money factor looks steep. I heard that's historically been a problem with Acura -- they just don't get aggressive with their lease rates, so they lose out consistently to BMW for those who look to lease. I wonder why that is there strategy. You would think that if they truly want to compete with BMW for the sport luxury segement, they would make their leasing terms more attractive, even if it is a new model.
#10 of 944 Re: Acura RDX: Lease Questions [bbydad]
Sep 11, 2006 (1:43 am)
Hi bbydad. I can give you an idea of what this model's residual values are currently like. It is difficult to say how Honda Finance comes up with their residual values. They probably base them upon the residuals that are estimated by a company called ALG (Automotive Lease Guide). ALG is an independent company that estimates residual values for every vehicle sold in the U.S. How ALG arrives at the residuals that it publishes is a good question. They have a large database of vehicles' residual values and how much they actually ended up being worth in real life. They probably picked a similar vehicle as a baseline for the RDX's residual values, such as the MDX when it first came out, and then adjusted the residuals based upon how well they believe this model will be received by the general public. Anyhow, let's take a look at this truck's actual lease program. Not surprisingly, Honda Finance is not currently providing any sort of lease support on the RDX. As a result, if you were to lease one through it right now you would have to use its standard lease program. Honda Finance's buy rate standard lease money factor is currently .00283 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Its 36 month, 15,000 mile per year residual value for a 2007 RDX (not the Tech version) is a very solid 60%.
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