tobey457

I've been internet shopping for a 2011 TSX and recently I received a quote for a lease at $239 a month for 36 months with $2,000 down. I inquired why their price was so much lower than the nationally advertised $289 per with $2500 down and she said they are basically selling these at a loss...

Now I know that's not true, but just wondering if anyone has settled a lease price close to this? I am pretty sure I will finance at 0.9 instead, but I have to say a $240 payment for the next few years is pretty tempting. Have not seen full terms like residual value, etc.

Seems too good to be true, but if they are using a figure around $27,200 (real cost via truecar) I can see this working. I have never leased a car before, so I'm wondering if there's some trickery here (fine print) or if they're trying to get me in the door (more likely).

Anyone?

Craig-D

You never want to put money down on a lease. You wouldn't pre-pay rent for an apartment would you? So why do it for a car? When you redistribute that $2k down over the 36 months, you get the real payment for the car: about $295 a month. Which is still a great deal. It's actually too good to be true to be honest. If you call Acura Financial directly, they'll quote you $350 a month with $0 down.

I'm personally picking up a 2011 6 speed tech on Friday. My lease payment will be $373/mo. with $0 down, which is reflective of a price right around invoice.

tobey457

I will probably not put any money down except the equity in my trade which is about $1,000. At that I'm figuring my payment will be ~$270.00 if I go with the lease. Still not sold on leasing...

It does seem too good to be true, but using the current TSX money factor of .00129, a residual of $19,200 and a selling price os $27,700 gets the numbers I posted above. They're just all on the low side, and that quote I received has without haggling through an email. Nothing is close to a done deal yet, will know more this weekend, but seems weird that they're low-balling themselves!!

Nogard13

You're a bit off on the calculations. With the numbers provided, you should be paying about $296 a month, plus tax (with no money down). See the attached screen cap from a lease calculator.

I did run the numbers with a $2000 down payment, and it comes out to $238 a month, plus tax (I don't know what the tax rate is in your state)

tobey457

Sorry I wasn't specific, but I think we're coming up with the same thing. Their quote was with $2k down which was $240/per for 36 mos. Wondering what they were using for a selling price, I backed into $27,700 using the residual and money factors quoted on the Edmunds forums.

With those calculations and $1k down I came up with ~$270/per and with 0 down I was at ~$300/per. We don't have taxes in NH, they kill us on the registrations!

Seems like a decent deal if I decide to go with a lease, just seems really weird for their first offer. With all of the Japan talk and prices going up, etc, they're only trying to make ~$500 on their car? This is easier than I thought!

I'll report back on what the real numbers come back at.

Craig-D

They make more than $500 over invoice on the car if it doesn't stay on the lot long. They get the holdback as well, which is 2% of MSRP - that's about another $600 of profit on a base. The U.S. has about a 60 day supply of cars left, but dealers won't be getting any cars next month. Rarer models like 6 speed techs and wagons will probably come at a premium eventually.

PyroDave

i got my '10 tsx base for 330 a month, 0 down, including all fees rolled in. a little over a year ago

tobey457

Truecar has the dealer cost for a base at $27,156 which includes subtracting $888 for dealer holdback. With the quote I received the best I can figure is that there's $500 of wiggle room in there and that they're selling for ~$27,700, which is $544 over actual 'cost'.

I want to believe this price, but won't be able to make it down there before the weekend to verify. Just seems like this is a price I'd get after a day or two of haggling, not an instant internet quote price with no fuss. Something seems off...

Craig - do you have taxes where you live? With no money down at invoice on a tech I'm getting ~$330 a month for a lease payment with the calculator. Or am I doing something wrong?

Craig-D

In my state (NJ), you pay 7% tax on each monthly payment. My payment will be $373 after taxes, so it's about $346 before taxes. I paid a little bit over invoice, so you're about right.