plutonium239

Acura of Portland is offering me $11500 for my 2000 Integra GSR towards a lease on a base TSX. My payoff is roughly $13500. The price of the TSX is sticker, likely making up for the inflated trade value. I would also put down a total of 2k cash. The lease term would be $379/month for 48 months, 12k/year. Does this sound like a fair deal?? Should I work on the price of the TSX more?

Thanks!

omelette

if you trade in for 11500 and pay 2k in cash, why would the lease term still be so high per month for 48 months?
also have you checked into how much it would cost to finance? unless you're set on leasing...

edit:
er is the pay off for the integra or the balance on the TSX?

plutonium239

The (integra) payoff is 13.5k, leaving me with about 2k negative equity.

justinjsw

You owe 13,500, they are giving you 11,500 and you are giving them 2,000...so its a wash.
Looks like you will be leasing the car with no cap reduction or drive off fees(first payment, bank fee, DMV, Sec. Deposit).

Question...
1. What is the lease price for the TSX? Or how much are they capping the TSX at?
2. What is the money factor? The lease rate.

Once those 2 questions are answered...its very easy to tell if you are getting a fair deal.

PWPTSXER

I dont like leasing because in the end you have nothing to show for it, but thats just me.

379 sounds a little high to me though esp. if you are putting down $2000 of your own cash

elduderino

Yeah but you are paying the $2K to get even on your car.

One factor is the KBB.com trade-in value of your car. What is it?

If you can buy a 2004 TSX from a dealer for $2k below MSRP, then you would be better off... slim chance.

Talk to Kem Roos at Ron Tonkin Acura of Beaverton - he was as straight-up with us as a career car-salesperson can get.

plutonium239

After sleeping on it for the night, I think I might pass. What gets me is, I asked the salesman up front if the trade value was the ACTUAL trade value. I mean, why would they offer me more than the trade was worth? He said yes, this was the real value, and then when we discussed the price of the TSX, he would not budge. I realize they can show me whatever I want for my trade and that the money has to come from somewhere but he was deceitful regardless. I might still go in and see how badly they want to sell their cars.

jcg878

If nothing's wrong with your car, I'd say hold onto it. Of course that's being rational! But if it's working fine and you really want a TSX, you can hold out for a great deal, perhaps on a 2004 in a few months.

dzuy

personally, i think it is a bad financial decision to end up upside down. but in reality 2k isn't that bad. but another financial decision i find questionable is leasing.

i mean, acura (aka honda) products are pretty reliable, so it's possible to own these cars for a lengthy time w/ low maintanance. if you only plan to put down 2k, i would personally advise you to just keep the gs-r unless you have problems with it.

bottom line - cars are a terrible investment. they only depriciate in value. and at the end of the lease, you'll have nothing.

48 mth * $379 = 18192. that's alot of money after four years not to own anything.

you could try selling your gs-r (assuming that you aren't leasin it) on autotrader.com

plutonium239

I actually am leasing the 'teg and have the option of selling it myself, albeit a $500 early term fee. The car is all stock and near perfect with 34k miles and a transferable 100k warranty. This all sounds fine and good but selling it myself could take an eternity. The immediate gratification of trading it NOW and having a new TSX is tempting, though not necessarily the best idea financially.

olliestsx

I got my tsx last year. It an auto without navi. I leased this car with 1800 down, which covered the sales tax first payment ect. My payments are 309 for 48 months

plutonium239

What was the negotiated cap cost?

iamhomin

The deal itself is alright, but the length of the lease isn't.


It really drains the purpose of the purchase/lease when you have to limit yourself in terms of how much you can drive. Can you really keep it within 1000 miles per month for four years?

Also keep in mind the 0.15/mile penatly.

plutonium239

In 3 years, I put about 13000 miles on the car, that's an average of about 360 miles/ month! My wife works days, I work nights so I usually take her car.

plutonium239

Also,

Here is the breakdown of the lease they are offering.

Trade allowance $11500.00
Pay off of trade $13500.00
Customer cash $2000.00
Total cash/rebate/equity $0.00
Inception fee $992.00
Equity: Deficiency $2000.00

Original MSRP $27035.00
MSRP discount $0.00
MSRP adjustment $0.00
Adjusted MSRP $27035.00
Residual value (46%) $12436.10
Mileage adjustment +2% $540.70
Annual miles 12000
Adjusted residual $12976.00

Assignment fee $495.00
Tax $0.00

Payment recap $379.00/48 months

If anything looks fishy, please let me know.

Everyone has been a huge help!

PWPTSXER

ya...the MSRP discount...thats BULL. they didnt discount their car at all (I dont care about any trade allowance....STILL too high!!)

I'm sorry but there is no way I would do that deal.....It just isn't a good deal in my eyes.

HCF

Depending on the mileage of your car, it is only worth around $9k to a dealer, thus the reason you are not getting anything off of the sticker is they are giving you $2500 more for your car than it is worth. Dealers are in business to make money so they will not discount their car and then give you inflated value for yours so the deal seems okay to me.

However, leasing a TSX isn't really a great idea becuase the money factor is not good. You can probably lease a car worth $10k or so more for the same payment because it has a better money factor.

Look at it this way, you can lease a $70k VW Phaeton for $699/mo or a $26k TSX for $400/mo. That's 3x as much car for less than twice the price. Hope this helps

HCF

By the way, never EVER put money down on a lease.

joerockt

So let me get this straight, you 2000 Teg payout is 13,500, and the residual value on a TSX after 4 years is 12,976???

I dont know who makes up these residual values...

Leasing is a rip. Wait until your Teg's lease is up and then buy your TSX.

plutonium239

Yep, residual value of 46% on the TSX.