2006 TSX in Toronto Dealership
12-08-2005, 08:01 AM
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2006 TSX in Toronto Dealership
my friend just went to the dealership yesterday and he told me the new TSX is out but the rate is 6.9, funny thing is the site (acura.ca) has 6.65%, althought it says its for 2005, i am pretty sure the price is for 2006 as well or at least somewhat close.
Just thought i would share
Just thought i would share
12-08-2005, 05:23 PM
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Originally Posted by RTSX-ASpec
my friend just went to the dealership yesterday and he told me the new TSX is out but the rate is 6.9, funny thing is the site (acura.ca) has 6.65%, althought it says its for 2005, i am pretty sure the price is for 2006 as well or at least somewhat close.
Just thought i would share
Just thought i would share
12-09-2005, 12:08 AM
#6
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Originally Posted by RTSX-ASpec
how you get 1.4%
It essentially works like this:
Lets say the security deposit on a TSX is $515 dollars. If you put twice that amount down as the security deposit,......$1030,...you might get 0.25% off the rate they are currently offering. If you put three times the amount,...you might get 0.45% off the rate being offered etc. This can be done up to a maximum of 7x the security deposit amount.
Theoretical example:
1x deposit = .25% off the rate
2x deposit = .45% off the rate
3x deposit = .70% off the rate
4x deposit = .90% off the rate
5x deposit = 1.10% off the rate
6x deposit = 1.20% off the rate
7x deposit = 1.30% off the rate
So if you put down 7x the amount,......you would be putting down $3605 in this example. This money you put down (the 3605) however is refundable at the end of the lease term. You basically give it to honda to use for a few years, and then they give it back to you when your lease is up. You can use it to pay off what is left on your car if you want to buy it out,.....or simply take the money back, walk away from the car since the lease is up, and be on your merry way.
I dunno what the exact numbers are for me,......but thats what we did. Put down whatever 7x the amount was,.......and it knocked our rate down from 2.9% to 1.4%. Just a matter of good timing I suppose because the rates were down at 2.9%,......and this lease option allowed us to get it down to 1.4%. Which, as you said,.....is a good rate on a Honda/Acura.
12-09-2005, 09:09 AM
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Originally Posted by West6MT
Well,......I will try to explain this as briefly as I can. We went in to buy an 05 TSX at the end of Aug when they had 2.9% lease rates on. Honda Finance Canada has a lease option that allows you to get a lower interest rate however. I cant remember what it is called.
It essentially works like this:
Lets say the security deposit on a TSX is $515 dollars. If you put twice that amount down as the security deposit,......$1030,...you might get 0.25% off the rate they are currently offering. If you put three times the amount,...you might get 0.45% off the rate being offered etc. This can be done up to a maximum of 7x the security deposit amount.
Theoretical example:
1x deposit = .25% off the rate
2x deposit = .45% off the rate
3x deposit = .70% off the rate
4x deposit = .90% off the rate
5x deposit = 1.10% off the rate
6x deposit = 1.20% off the rate
7x deposit = 1.30% off the rate
So if you put down 7x the amount,......you would be putting down $3605 in this example. This money you put down (the 3605) however is refundable at the end of the lease term. You basically give it to honda to use for a few years, and then they give it back to you when your lease is up. You can use it to pay off what is left on your car if you want to buy it out,.....or simply take the money back, walk away from the car since the lease is up, and be on your merry way.
I dunno what the exact numbers are for me,......but thats what we did. Put down whatever 7x the amount was,.......and it knocked our rate down from 2.9% to 1.4%. Just a matter of good timing I suppose because the rates were down at 2.9%,......and this lease option allowed us to get it down to 1.4%. Which, as you said,.....is a good rate on a Honda/Acura.
It essentially works like this:
Lets say the security deposit on a TSX is $515 dollars. If you put twice that amount down as the security deposit,......$1030,...you might get 0.25% off the rate they are currently offering. If you put three times the amount,...you might get 0.45% off the rate being offered etc. This can be done up to a maximum of 7x the security deposit amount.
Theoretical example:
1x deposit = .25% off the rate
2x deposit = .45% off the rate
3x deposit = .70% off the rate
4x deposit = .90% off the rate
5x deposit = 1.10% off the rate
6x deposit = 1.20% off the rate
7x deposit = 1.30% off the rate
So if you put down 7x the amount,......you would be putting down $3605 in this example. This money you put down (the 3605) however is refundable at the end of the lease term. You basically give it to honda to use for a few years, and then they give it back to you when your lease is up. You can use it to pay off what is left on your car if you want to buy it out,.....or simply take the money back, walk away from the car since the lease is up, and be on your merry way.
I dunno what the exact numbers are for me,......but thats what we did. Put down whatever 7x the amount was,.......and it knocked our rate down from 2.9% to 1.4%. Just a matter of good timing I suppose because the rates were down at 2.9%,......and this lease option allowed us to get it down to 1.4%. Which, as you said,.....is a good rate on a Honda/Acura.
thanks for the info
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