- #41 of 583
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what a good deal
by potato1
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Dec 14, 2006 (8:37 pm)
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Hi Carman and Kyfdx and thanks in advance for your insight. I want to lease a RDX (no tech). I also know i need 18k miles a year. I am looking at a 36month lease with little to no money down. I have gotten only one response thus far and its for $530 a month which seems way too much? I want to get into the $400 per month. Am I asking for too much? Would waiting till last week of the year make a difference?
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- #42 of 583
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Re: Dilemma [monkstermann]
by topgun7
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Dec 16, 2006 (8:33 pm)
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Replying to: monkstermann (Dec 12, 2006 9:23 am)
We terminated lease early on several Lexus. First we called the Lexus financial to find out the buy out value. Then, we took the car to multiple Lexus dealerships and find out how much they want to pay for the car. And we pay the difference between the payoff amount from Lexus and what the dealer is willing to pay. In our last Lexus, we traded it for a Mercedes and rolled the difference into our payment for the Mecedes. The process is the same, except we have less leverage (since no one else is bidding on the car). It depend how upside down you are. In some case, if it is too severe, the manufacturer may not approve to roll all the difference into the new lease (e.g. The new car MSRP is 35000, negiotiated cap cost is 32000, but someone is 10,000 upside down on the old car. In this case, the manufacturer probably won't allow rolling the full 10,000 difference into the new lease since they are running the risk that if the car is repossed, they may not be able to recover the full amount). Good luck...
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- #43 of 583
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Re: Dilemma [topgun7]
by monkstermann
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Dec 17, 2006 (7:56 pm)
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Replying to: topgun7 (Dec 16, 2006 8:33 pm)
Thanks topgun7, that makes sense! I was trying to determine the best way to approach the issue and now I know.
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- #44 of 583
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Re: Is this deal good? [hstu]
by Car_man HOST
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Dec 28, 2006 (3:50 am)
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Replying to: hstu (Nov 30, 2006 2:44 pm)
Welcome hstu. $500 over invoice is a good price for this truck. You shouldn't pay for the "Protection Package" though. It isn't really necessary. Dealers just use packages like this to add additional profit to deals. The money factor that you were quoted for this model is right in line with Honda Finance's current buy rate for it. This is a good thing because it means that the dealer is not trying to mark your vehicle's money factor up to add additional hidden profit to your deal. So the bottom line is that $500 over invoice is a good price and the money factor is right. I'd be happy to calculate a lease payment on this truck for you that you can compare to what the dealer is quoting you, but in order for me to do so I need you to provide me with this truck's full MSRP.
Car_man
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Prices Paid Forum
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- #45 of 583
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Re: Dilemma [monkstermann]
by Car_man HOST
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Dec 28, 2006 (3:57 am)
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Replying to: monkstermann (Dec 12, 2006 9:23 am)
Hi Monk. I'm glad that you find this site so informative. Unfortunately, it is going to be fairly expensive for you to get out of your Jaguar lease so early. You would be much better off waiting until you are closer to the scheduled end of your current lease to get a new vehicle. If you can't wait, you will have to get the dealer that you get your RDX from to purchase your Jag through the bank that you are leasing through. Chances are it is going to cost thousands of dollars more to purchase than the dealer you are working with will be willing to give you for it. You are going to either have to pay the money that you are upside down on your current lease out of your own pocket or roll it into your new lease. The 2007 Acura RDX with the Tech package has a spread of around $3,200 between its full MSRP and dealer invoice price plus the dealer is going to want to make some money on it, so let's say that you have around $2,500 to play with. If it is going to cost you more than $2,500 to get out of your current lease you are going to have to pay that money out of your own pocket, plus pay more per month for your RDX than you should. The bottom line is I personally would wait until I was closer to the end of my lease to get something new.
Car_man
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Prices Paid Forum
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- #46 of 583
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Re: what a good deal [potato1]
by Car_man HOST
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Dec 28, 2006 (4:00 am)
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Replying to: potato1 (Dec 14, 2006 8:37 pm)
Greetings potato1. I would be happy to give you an idea of what the RDX that you are interested in will cost to lease right now. In order for me to do so I need you to provide me with its full MSRP and approximate selling price. You can look up its MSRP in the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get an idea of how much you will have to pay for this truck right now by visiting the following discussion: "Acura RDX: Prices Paid & Buying Experience". Let me know what these numbers are and I will use Acura's current lease program to estimate what this vehicle's monthly payment should be.
Car_man
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Prices Paid Forum
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- #47 of 583
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Re: what a good deal [Car_man]
by pittpanther
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Dec 28, 2006 (8:37 am)
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Replying to: Car_man (Dec 28, 2006 4:00 am)
Hello all - thanks a bunch for all of the great information. Just to confirm, is the current AHFC money factor on a 36 month RDX lease 0.00213 (with a residual of 60%)?
Thanks!
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- #48 of 583
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Re: what a good deal [pittpanther]
by pittpanther
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Dec 28, 2006 (12:42 pm)
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Replying to: pittpanther (Dec 28, 2006 8:37 am)
I am being told by one local dealer that the residual for a 36 month lease is 57% (as opposed to 60%) through AHFC. Is this correct? Thanks again!
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- #49 of 583
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Re: what a good deal [Car_man]
by potato1
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Dec 28, 2006 (6:17 pm)
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Replying to: Car_man (Dec 28, 2006 4:00 am)
ThanKs for your help. An RDX w/o tech package has a MSRP of $32,975 and a selling price right now of around $30,550 in chicagoland which I don't mind traveling to o get the deal. Milwaukee dealers don't deal. If I want an 36 month lease with 18K miles per year what would a good deal look like? I've heard with the low financing rates they aren't really set up to lease- just to buy. Any thoughts?
This forum is SO valuable-THANKS!
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