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Acura RDX, Car Leasing, Car Buying, SUV
#240 of 944 2008 RDX lease
Nov 26, 2007 (8:30 am)
Does this sound like a good deal?
2008 Acura RDX w/o tech
CAP COST $32,956
Res Value $19,328
Upfront: $1260 (first pymt, bank fee, doc fee)
36 mo's/12k miles
Final payment $455
After salesperson talked to Fin Mgr again, reduced to $429
Final two lease payments on my '05 Honda Accord ex v6 6 speed coupe totalling $560 would be paid by dealer and they would then return the car to Honda, said they didn't want the car....
Also considering the Mazda CX-7
#241 of 944 Re: 2008 RDX lease [cdb1]
Nov 26, 2007 (1:17 pm)
Sounds like a deal to me. Are you paying the cap cost reduction? Where are you located? Just curious because the upfront charges I was quoted was higher. It may vary from dealer to dealer. Not sure.
#242 of 944 RDX Tech in NJ
Nov 28, 2007 (6:43 pm)
This site helped a lot, so i figured i would post.
2 months ago I leased for 36 mo, 12k, $525/mo with $1000 down (which took care of tax, tags, fees, 1st month payment) from Turnersville Acura in NJ. Excellent dealership and highly recommended.
#243 of 944 Acura RDX Lease Deal -- is there a catch?
Nov 29, 2007 (3:23 pm)
I read that it's not a great idea to put any money down for a lease, but the dealership says the $3500 downpayment is required in order to get the 2.9% APR lease special that Honda Financial is offering through tomorrow, Fri 11/30. I do fall into the Super Preferred Credit Tier, but Im wondering whether the $3500 seems a little high?
Here is the dealership's quote which includes the dealership paying my final December lease payment of $480.93.
RDX-08 with Tech Package
Gross Cap Cost $37,265.50
Down Payment $3,500
Residual Value 52% or $20,201.40
Term 36 months
Monthly Payment $515
Any and all opinions on this deal are welcome!
I'm in MA and working with Acura of Boston.
#244 of 944 Re: Acura RDX Lease Deal -- is there a catch? [gr8deal]
Nov 29, 2007 (5:26 pm)
Personally, I think you're getting RIPPED ! I just got the base '08 from CA dealer (to Colorado) for $1635 incl $900 down plus dealer prep/trans and a payment of $476/mo incl tax. If you want more info PM me, I used a Leasing Company, so they made a 'fee' too - you should look for a new Deal-er !
#245 of 944 Re: Acura RDX Lease Deal -- is there a catch? [archivist]
Nov 29, 2007 (6:08 pm)
Yeah, now that I have time to do some research, I see that the dealership posts the MSRP as $37,410. So the quote of $37,265.50 for gross cap cost is only $144.50 below sticker! Even if I included the amount of the $483.93 final lease payment the dealership would cover, it's still only $628.43 under sticker.
It seems more clear to me that knowing the True Market Value price can really save some bucks! The TMV for the RDX-08 w/Tech in my area is $36,585 without options. If I'm looking to add the body side moulding for $353.20, then the gross cap cost should be closer to $36,938 and not $37,265.50.
HOWEVER, I'm still confused because I just ran the numbers on the lease calculator on this site and the calculator shows the monthly payment to be $604.58. If this number is correct, then a $515 monthly payment doesn't look that bad. Thoughts, anyone?
#246 of 944 Re: Acura RDX Lease Deal -- is there a catch? [gr8deal]
Nov 29, 2007 (7:11 pm)
I just signed for the RDX base with $1522 down (includes first month, bank fees, doc fees)...$464 a month (includes taxes) for 15,000 miles per year. My car doesn't come in for 2 weeks. I'm in NJ. Has anyone out there taken the "tire" protection plan with their lease?
#247 of 944 Re: Acura RDX Lease Deal -- is there a catch? [gr8deal]
Nov 29, 2007 (7:16 pm)
I'm certainly not Car_Man, but $ 515 is irrelevant if you give them $3500 up front! That's a bunch to "risk" if you total the vehicle driving out of the dealership! What's their Money Factor (mine was 0.00155) which works out to ~ 3.7% and is about the best I've seen. Your quoted Residual seems ok for 12k/yr (mine is ~19,800 at 10k/yr ~ 62%). Its the Cap Cost and Residual and Cap Reduction and Money Factor all combined that make the DEAL! Ya gotta look at them all.
I still think they are giving you a 'Hose Job'. You may have a problem getting a comparable number on the 30th since new Lease Factors and Numbers won't be published till next week, but I'd sure check with another dealer for a quick quote. Again I actually used a Broker and got a better response than trying to negotiate directly. I had to push a bit, but they really came through! Just a thought!
#249 of 944 Re: 2008 RDX lease [trickykill]
Nov 30, 2007 (5:08 am)
Thanks so much! I need to find time today to speak with the dealership with this info!