jasonviper04

I'm looking to lease a RDX and am wondering what kinda of deals you guys are getting. thanks

MMike1981

right now acura is offering $399 for 36months. im sure that can be negotiated down

jasonviper04

yeah but I dont think thats with tech pack. Sorry I should have mentioned that I would like it with tech pack. It would be great if I could get it for 399 with tech pack.

black label

You're not going to get any good information is this way. I could tell you that I leased a tech package for 399/month and I could be telling the truth (it is entirely possible to do).

What your lease payment is will depend on how you structure your lease. How many miles do you need per year? How much money are you planning to use at the start of a lease?

What you should do is negotiate the price the vehicle. That is all the dealer has control over on a RDX lease. The residual value and the money factor are set by the factory.

Once you have negotiated the price of the vehicle, it's just punching numbers into a lease calculator.

jasonviper04

Yeah I know all of that! ^ I have leased vehicles before. What I am trying to see is what most people are paying on a lease. It will help get an average.

turboted

I'm paying $324 a month on a 2007 RDX w/ tech package, 15k a year for three years. This lease rate includes regular maintenance. I paid 5K down on this lease deal. If you are paying more you are sc**d!

jasonviper04

How did you get maintenance included?

MMike1981

you put 5K DOWN ON A LEASE? YIKES.

jasonviper04

Yeah I wouldnt do that either! ^ but I have put multiple security deposits to lower the money factor. It's called a MSD Lease but so far no one has been able to tell me if Acura does this.
I guess I will have to call Acura Financial to find out.

black label

Alright, but when people come in looking for a lease payment, I get to make money. When they come in to negotiate the price, I'm just selling a car.

You can get the payment as low as you want it depending on how much money you put down as a capitalized cost reduction. That doesn't mean you are getting a good deal.

You negotiate the price of the car and the lease is what it is. To truly help your goal of getting a good deal, you should be asking what people paid for the car.

I have never heard of multilple security deposits to lower the money factor. AHFC does offer a one pay lease option, that would lower the money factor by .0004 (or .96%).

MMike1981

#1: whether you know beforehand if u are leasing....always always always negotiate as if you were buying...all things flow from the sale price of the vehicle no matter what you are doing.

so yes, the question should be not what ur lease payment is, but what was the sale price at the conclusion of the deal

jason..u seem a little gung ho with the fact that u kno u r going to lease and plan on starting your new deal out like that...i def wouldnt, but thats just me. if u want the lowest lease terms, plan like you are buying the car and get that rdx down to invoice...then hit em on the head with the lease stuff

bobq

Can you explain what is the one pay lease option? For those of us who are not aware of this and may be interested in leasing it would be great to know if this would be an option we should consider.

jasonviper04

Guys thanks for all your input. but I know how to negotiate for the best deal, I did exactly that with the two cars that I have owned/leased ( start with selling price before any other numbers come into the game). It's my fault I wasnt more specific, I was merely curious as to what you guys are paying (lease payments + lease details). Oh and I highly suggest doing a MSD Lease,what it allows you to do is place up to nine security deposits to lower your money factor and of coarse at the end of your lease you get the security deposits back. For example on a lease of mine I put 9 security deposits = $4500 which lowered my monthly payment about $50 so over 4 years I saved $2400 thats over a 50% return. It's a great investment! I know for sure that Toyota , Lexus , BMW and Infiniti do a MSD lease.

jasonviper04

The one pay option is where you pay the whole lease amount(depretiated amount) up front but with a much lower money factor and usually some other incentives. So if you have 15 - 20K to spend upfront it could be a good deal for you.

black label

As Jasonviper said, it's basically a lower money factor and you make all the payments upfront.

I guess the thing to bring up for people who don't know is how to convert a money factor. Money factor is just a finance rate that a lot of people don't understand, but it's really pretty simple.

Money Factor x 2400 = APR

If your money factor is .0027, it translates to a APR of 6.48%. If you were doing an AHFC one pay lease, .0027 would become .0023 and your rate would be 5.52%.

Really good leases are made from money factors like .00092 (2.2%), thats what they had on the TL last summer.

turboted

The maintenance package was a dealer option added to the monthly lease payment. My monthly lease payment would have been $309 without the maintenance package.

I calculated if I do a synthetic oil change every 3-4K for the 45K on my three year lease, I'm breaking even or coming out ahead on the extra $15 a month. I'm a little over 6 months on lease and have had two free oil change inspections including tire rotation and a car wash. That works out to $45 per visit. I've read on this forum that many are paying up to $120 per a maintenance visit for the same work.

mtwiford

Exactly! What were you thinking!

black label

It's not that crazy to put money down on a lease. The 5000 they put down probably saves them 800 over the course of the lease. Not a huge amount, but money is money.

The down side is in the event of an accident resulting in a total loss. AHFC leases come with GAP insurance, so if you total the car, you won't owe money on it. However, if you put $5000 down on a lease and total the car in a month, that 5 large is gone and it's not coming back.

jasonviper04

Thats why I a MSD lease is so great because I saved $2400 over the coarse of the lease and I get my security deposits = 4500 back to me.

MMike1981

sorry....money down on any lease is not to your advantage. if you have to put that large of a sum of money down on a lease in order to get a managable monthly payment, the car is too expensive.

soccersta1986

not sure if this help....
i own a 2005 CRV with 50ks so my trade in value is about 12ks toward the RDX i want ( techW NAVI) since my pioneer avic N2 wont fit in the rdx).
i honestly would prefer to purchase rather than lease.. i drive alot as well, so im not sure if 15ks would be enough for me .
any thoughts? my estimated figure if i was to lease the RDX is 2000$ down and lease the RDX Tech for 36 months is about 375 ( bad credit or its not as good since iam only 21)
if i was to put the 12 ks i get from my CRV towards the RDX, MY payments would b arund 5.00% which could be lowered , and 60 month, it would come down to 399$

MMike1981

12k down on a tech pkg at 5% ur looking at mid/high 4's best case scenario. (your taxes will be around 2500 or so) if you are going to finance the taxes your payment will be closer to 500 month. if you are paying taxes outright, your downpayment will be around 9500 on a stickered 37k car (prob nab it around 35k)...399 on a tech ur going to need alot more upfront

russianDude

$406 a month for 3 years, then I own it

PS. trade-in 6K+13K down

Tripp11

You asked what my lease payment was ----> $474 per month

black label

Originally Posted by black label
It's not that crazy to put money down on a lease. The 5000 they put down probably saves them 800 over the course of the lease. Not a huge amount, but money is money.

The down side is in the event of an accident resulting in a total loss. AHFC leases come with GAP insurance, so if you total the car, you won't owe money on it. However, if you put $5000 down on a lease and total the car in a month, that 5 large is gone and it's not coming back.
I'm not saying it's the smartest thing to do, but the less you are financing (leasing IS financing) the less interest you pay.

The smarter way to approach it would be to invest the 5000 in a way that pays a return that is higher than the interest rate on the financing.

The only real downside to putting a large sum down on a lease is that the money is lost if the car ends up totaled.

What you can afford to pay monthly and how to use your money to your advantage aren't necessarily the same thing. Some times people need to buy more car than they can really afford, the Repo Man needs to eat too .

MMike1981

the only downside to a lease is a total loss? i would tend to disagree...leasing works for people...and doesnt work for others. I would say losing 5k up front plus 3 years of payments and still not owning the vehicle is a total loss. leasing is financing except you have absolutely no return on an investment made - at the end of 3 years, ur out of your 5k + payments, have a vehicle that more likely than not has an inflated residual, and if you would want to purchase it, your used car loan will have a higher APR than a new loan and you will continue paying over a few more years for a car with an inflated value. If you are going to lease....any downside is money coming out of your pocket if you know you wont be purchasing at the end.

black label

Read carefully before you post.

No one said leasing was for everyone, no one was discussing whether leasing was better than traditonal financing.

The discussion was to whether it made any sense to put a large capitalized cost reduction into a lease (money down), and what the advantages and disadvantages were. You need to read the lines, not in between them.

I'd bet you think it makes more sense to pay cash for a car then to finance it.

MMike1981

thank you for the re-hash.

i read, and replied, in regards to why a 5k DP makes no sense from a financial standpoint in regards to leasing