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Acura RDX, Car Leasing, Car Buying, SUV
#440 of 879 Re: RDX advertised lease special [af145]
May 22, 2008 (9:10 pm)
Well, I got the MF from a dealer, but someone had posted earlier that 0.00082 was not right, so I decomposed the deal as well.
399 is the monthly rent + interest (the payment is sans tax)
Monthly rent is (31209.25-18311.4)/36 = 358.27 (cap cost - residual divided by number of payments)
The interest portion is then 40.73
MF = monthly interest / (cap cost + residual) = 40.73/(31209.25+18311.4) = 0.000822
Which in turn matches the number provided by the dealer.
(sorry, don't mean to sound condescending -- just wanted to show how I did the math).
Acura's website says the deal is good through 7/7/2008, so I'm wondering if this means Acura plans to keep the current program running until then (hopefully introducing some lease cash in June to make this deal sweeter).
When I leased my last car in 2005, Acura rolled out 1,500 lease cash on the MDX on June 9th. Hoping something like this happens with the RDX this year -- the 53% residual is making the deal too expensive for me. Thoughts?
#441 of 879 Re: RDX advertised lease special [zheka212]
May 23, 2008 (8:06 am)
You weren't condescending at all, but you made a mistake in your math. (Sorry if *I* sound condescending ). The at-signing amount of $2499 included Cap Reduction of $1505 (as well as $595 fee and $399 first month payment). After that, your Cap Cost drops to 29704, and the same calculation yields 0.001719.
Acura of Brooklyn is now offering a cool $1000 off that deal: $1495 at signing, $399/mo for Base, $459/mo for Tech, 10K miles. This is still not as good as people were getting in NJ and Manhattan (see #420, $443 with $1530 total out of pocket -- as far as I understand, that was with tax and in April). I'll probably go there this Saturday, test-drive the car and try to negotiate.
My "problem" is that I have a trade-in: Honda Accord 2002 with lots of scratches, but under 40K miles. I want to use it to reduce the monthly payments to well under $200 for base or about $200 for Tech. So, I can't just shop over the phone: they have to see the trade-in to give me the price.
#442 of 879 Re: RDX advertised lease special [af145]
May 23, 2008 (8:19 am)
Now we are getting into what I hate most -- discussions who is right instead of sharing prices .
Anywho -- here's the blurp from Acura.com
MSRP $33,910.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $31,209.25.
--> so 31,209.25 is the cap cost after deducting 1505. When you visit the dealership, check the MF with them.
I've spoken with Plaza yesterday -- and about 10 other dealers. There is one guy in Jersey willing to set the selling price at 31,000 -- everyone else wants to be a little above invoice, not below.
Basically, Acura increased the MF from 0.00072 to 0.00082 going into May, and pulled $1,500 lease cash that used to be there for the Tech package.
I'm trying to get to 1,200 total drive off (all fees + 1st month) and 435/mo with 9% tax -- meaning I want a selling price of about 30,900, but no luck so far.
With a trade it gets more complicated -- so good luck this weekend. The car is a blast -- but MPG are pretty low in Bklyn (probbly around 14) so keep that in mind.
Let me know how you make out!
#443 of 879 Re: RDX advertised lease special [zheka212]
May 23, 2008 (10:02 am)
My understanding of the fine print was that $31209 was after dealer contribution, but before customer contribution of $1505. I may have been wrong, especially given that you actually got MF numbers from dealers. I totally agree, let's not go into arguments here. I'll get my own numbers tomorrow.
As far as the SELLING price goes, Acura of Brooklyn gave me a quote of $30,219 for Base, $33929 for Tech. Would they use that as a lease Cap Cost -- dunno, will try. Of course, BUYING a premium-gas SUV with god-awful mileage in the current oil market is outright crazy... maybe that's why their quote is so low.
Question: do you happen to know a decent salesman at that dealership? Last time I worked with Valeriy; this time I'm handled by Sydney. I don't like either; don't wanna go into reasons why.
#444 of 879 Re: RDX advertised lease special [af145]
May 23, 2008 (10:21 am)
I got calls from Lee and Art -- both were very eager to "earn my business" and were quick to tell me that what I want is not possible. Can't say I recommend either.
Acura is offering $1,500 in marketing support -- but it can't be combined with leases/financing. I've had "quotes" for 29,600 -- too bad that's not the number used for cap cost. .
Also, their service department is pretty horrible, so if you are planning to get the car serviced by a dealer and you are close to another one -- may be worth extra $5-10 a month to know that you will actually get a loaner if you ever need one, etc.
#445 of 879 Re: RDX advertised lease special [zheka212]
May 23, 2008 (11:02 am)
I'm surprised to hear about service. I had my Honda serviced there on warranty: driver window motor blew. Brought it in the morning, got back in the evening, no problemo. What was your experience? Anyway, can't I get it serviced at ANY Acura dealer?
I just called a guy at Curry in Westchester. He gave me the boilerplate $399/$2499; with a trade-in valued at $8000, it's $250/mo for base (including tax). Very bad deal, I didn't even bother asking for details.
By the way, he said that in NY State the tax is paid not just for the monthly payments, but also for anything used to reduce those -- including a trade-in. Maybe I should just sell the car on e-bay then.
#446 of 879 Re: RDX advertised lease special [zheka212]
by Car_man HOST
May 30, 2008 (4:05 am)
Hi zheka212. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a base 2008 Acura RDX with 12,000 miles per year are .00082 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00082 and 53%. I believe that this lease program is scheduled to run through the beginning of July. While it is possible that Acura would make an unscheduled enhancement to it, the more likely scenario is this is what we'll see for the next month.
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#447 of 879 Re: RDX advertised lease special [Car_man]
Jun 03, 2008 (7:28 am)
Thanks for helping out!
I figured I had nothing to loose by waiting until June -- and it's possible my hunch was right. I got a call this morning from one of the dealers I've been talking to claiming "amazing deals" on both the RDX and MDX in June. When I tried pressing him for the numbers, he admitted the residual and MF have stayed the same as in May (53%, 0.00082 on the base). He refused to disclose rebate info, but did come back with
1200 total out of pocket
419/mo for a 36 month lease with 12k a year and 9% tax included for the base RDX.
My calculations are a couple of bucks off (I'm too lazy to model this exactly right in Excel), but I get a selling price somewhere around 30,400 from his offer (that's including destination). Last month the best I was able to get was 30,900. Would you be able to shine some light on any new lease incentives Acura has rolled out this month (on both base and Tech -- they had one specific to Tech back in April looks like)? The price looks good, but if Acura threw $1,000 at this truck, I see no reason to split it even with the dealer.
Thanks in advance,
(and to all the dealers out there -- yes, you do deserve to make money. Just no reason to make more money now compared to last month.)
Jun 04, 2008 (3:16 pm)
Hi Car Man.
Can you tell me if this sounds like a good deal on 2008 RDX with tech package.
Quote includes sport running boards, roof rack, and standard wheels with chrome finish.
36 month lease. 12,000 miles. $950 total cash at delivery. $530 per month which includes tax. My tax rate is 7.75% (Orange County, CA).
#449 of 879 2008 RDX Tech-Residual and MF
Jun 05, 2008 (11:28 pm)
Whats the June 2008 Residual and Money Factor for a 2008 RDX Tech?