Acura Lease Special
- Thread starter 8uviper
- Start date
Good info.
Acura website will probably post it shortly.
Acura website will probably post it shortly.
It's there now. Damn. Now I have to keep thinking NSX vs. 996 TT for another 2 months ? I'll go nuts. (grin)
2 months NO WAY
You'll have the best two months of the year for driving either of the two cars you're considering, don't wait, buy/lease the one that stirs your soul, the sooner the better. The TT might have four wheel drive, but it's more fun driving it this time of the year, and the NSX, well, I stated my opinions on a previous post. Just DO IT!!!
NSX-GUY said:
You'll have the best two months of the year for driving either of the two cars you're considering, don't wait, buy/lease the one that stirs your soul, the sooner the better. The TT might have four wheel drive, but it's more fun driving it this time of the year, and the NSX, well, I stated my opinions on a previous post. Just DO IT!!!
Thanks again for the advice (Just DO IT)
Actually I already would have if I could have found the TT I wanted. My color and option list is fairly flexible but the problem is I've "stretched" my budget to $999/mth as a MAXIMUM for the 36/39 month lease and the only ones I've found around that price are Tiptronics. I'd (much) rather have a 6-Spd.
Now, when I say 999 as my upper limit, of course I'd stretch it still further if the quotes were in the area (say 1059-1079) but I STILL can't find that deal on the TT I want.
(I'm about to give up, say "Phuck it" and just lease the NSX. Not a bad 2nd choice now, is it ?
FWIW, I love the Orange/Orange)
Actually I already would have if I could have found the TT I wanted. My color and option list is fairly flexible but the problem is I've "stretched" my budget to $999/mth as a MAXIMUM for the 36/39 month lease and the only ones I've found around that price are Tiptronics. I'd (much) rather have a 6-Spd.
Now, when I say 999 as my upper limit, of course I'd stretch it still further if the quotes were in the area (say 1059-1079) but I STILL can't find that deal on the TT I want.
(I'm about to give up, say "Phuck it" and just lease the NSX. Not a bad 2nd choice now, is it ?
FWIW, I love the Orange/Orange)There's no margin or incentive for the dealers it seems. So I don't know if any will give one up unless you put money down. I know someone who wanted to lease one but the dealer told him he had to put money down since he didn't have strong credit which wasn't true.
I got the lease with no money down as stated. If the dealer balks, try a different dealer.
nsxtacey said:
Not sure what's "not true". Typically, in ANY deal (lease or otherwise) putting money down is a (much better) indication the buyer/leasee will GO THROUGH with the entire deal, i.e. no screw-ups with payments, terms, etc (which I'm sure is a headache for ALL concerned).
As far as margin or incentive, the "cap cost"/selling price for the dealer is fixed by the terms of the Acura lease, so once the dealer "leases" the car, he's "cashed out". He's made his money off the difference of the cap cost/selling price and what it cost him to buy the car from Acura.
The only reason I can think of for a dealer not leasing the car would be if he believed he could get a better price from selling the car (at a (significantly ?) higher price than the cap cost on the lease deal), OR, leasing it to someone that didn't know about the special Acura lease, also, of course, at a significantly higher cap cost/profit margin.
(Not every NSX reads NSXPRIME (or the Acura website))
2003 NSX Special Lease
Special lease rates available on all new 2003 NSX-T models. (Model NA2163PKW) for $799.00 per month/36 months/$0.00 down payment. $1,599.00 total due at lease signing (includes security deposit, excludes tax and license). SUBJECT TO LIMITED AVAILABILITY. Offer valid from May 1, 2003 through June 30, 2003.
Offer valid only on approved credit by Honda Financial Services through participating dealers. Honda Financial Services' standard credit criteria apply. See your Acura dealer for details. FEATURED LEASE: 2003 NSX-T Manual Transmission (Model# NA2163PKW). MSRP $89,765.00 (includes destination). Actual net capital cost $84,728.26. DEALER PARTICIPATION MAY AFFECT ACTUAL PAYMENT. Taxes, license, title, registration, documentation fees, options and insurance extra. Total monthly payments $28,764.00. Option to purchase at lease end $59,244.90. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 7,500 miles/year. Lease rates subject to change. SEE DEALER FOR DETAILS. Offer valid from May 1, 2003 through June 30, 2003.
The cap cost and residual is way over inflated. In 3 years even if the car is retured w/ 22k miles, no will pay 59k for it. I believe the lease they had w/ the older nsx was 48 month 1k a month, 12k miles a year w/ 48k residual and 81k cap cost.
Special lease rates available on all new 2003 NSX-T models. (Model NA2163PKW) for $799.00 per month/36 months/$0.00 down payment. $1,599.00 total due at lease signing (includes security deposit, excludes tax and license). SUBJECT TO LIMITED AVAILABILITY. Offer valid from May 1, 2003 through June 30, 2003.
Offer valid only on approved credit by Honda Financial Services through participating dealers. Honda Financial Services' standard credit criteria apply. See your Acura dealer for details. FEATURED LEASE: 2003 NSX-T Manual Transmission (Model# NA2163PKW). MSRP $89,765.00 (includes destination). Actual net capital cost $84,728.26. DEALER PARTICIPATION MAY AFFECT ACTUAL PAYMENT. Taxes, license, title, registration, documentation fees, options and insurance extra. Total monthly payments $28,764.00. Option to purchase at lease end $59,244.90. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 7,500 miles/year. Lease rates subject to change. SEE DEALER FOR DETAILS. Offer valid from May 1, 2003 through June 30, 2003.
The cap cost and residual is way over inflated. In 3 years even if the car is retured w/ 22k miles, no will pay 59k for it. I believe the lease they had w/ the older nsx was 48 month 1k a month, 12k miles a year w/ 48k residual and 81k cap cost.
You dont think a 3 year old NSX with 22k miles could fetch $59k? And how is the cap cost "way over inflated" at $84k? This would only be true if dealers were actually letting 03s go for less that $84k all day long. I haven't seen that happen.
This lease wasnt a bad deal...
This lease wasnt a bad deal...
spookyp said:
The lease is a great deal for leasee, my point was that dealers want some money down for it.
I don't know how much people are paying for the newer nsx but buyers of the older style paid ~78-82 to buy, pretty close to the cap cost they put on it to lease.
As for the risdual, no one pays sticker for an nsx. 59k would be the dealer asking price, wholesale probably around 50k.
It's a pretty good buyers market right now and will be 3 years from now since the nsx is not moving as fast as the car does 0-60.
I agree with you spookyp. The lease deal is fair...but not for everyone. I don't mind the mileage cap b/c I will be lucky to put that much on it per year and at .15/mile it's cheap if I exceed it. Here is how I reasoned this out in my own brain -
To me it was far better to have a brand new car for that payment rather than have a 98-99 with 30-50K miles on it and paying on it for 7 years or more. And being in a position where if the market went even further south, not being able to get out of it. With the lease, worst case is you give the car back and pay a turn-in fee.
I don't know what cars are actually selling for but people are asking anywhere from $59k to $69k for a 00 NSX with anywhere from 25K miles to 50K miles. Figure an average selling price of $64k which means money could be made on the back end of the lease...even if the selling price was closer to $60k you're still not upside down in the car.
FYI - the lease deal in april was for 39 months with a residual of $57K, slightly less residual, slightly longer term.
Just my .02
Andy
03 Blue/Onyx
To me it was far better to have a brand new car for that payment rather than have a 98-99 with 30-50K miles on it and paying on it for 7 years or more. And being in a position where if the market went even further south, not being able to get out of it. With the lease, worst case is you give the car back and pay a turn-in fee.
I don't know what cars are actually selling for but people are asking anywhere from $59k to $69k for a 00 NSX with anywhere from 25K miles to 50K miles. Figure an average selling price of $64k which means money could be made on the back end of the lease...even if the selling price was closer to $60k you're still not upside down in the car.
FYI - the lease deal in april was for 39 months with a residual of $57K, slightly less residual, slightly longer term.
Just my .02
Andy
03 Blue/Onyx
I have a question about leases.
Why would you want to put $1500 down and then pay $800 a month for 39 months and at the end own nothing (so you pay 32,700 to rent the car for a little over 3 years). When you could just buy an early (91,92,93) NSX for a similar amount of money and in three years (or before) you could sell it and at most lose 6 or 8 thousand bucks.
Now I understand the differences between a 91 and an '03 and cosmetics aside a '91 can be made to perform as well as an '03 (or better) with 10-15K in mods. So you could buy say a nice condition '91 for 30K, put 15K into it (6 speed tranny, supercharger, wheels) have a car that will spank an '03 for 45K and will be worth something in three years.
Perhaps there is something I don't understand here.
Why would you want to put $1500 down and then pay $800 a month for 39 months and at the end own nothing (so you pay 32,700 to rent the car for a little over 3 years). When you could just buy an early (91,92,93) NSX for a similar amount of money and in three years (or before) you could sell it and at most lose 6 or 8 thousand bucks.
Now I understand the differences between a 91 and an '03 and cosmetics aside a '91 can be made to perform as well as an '03 (or better) with 10-15K in mods. So you could buy say a nice condition '91 for 30K, put 15K into it (6 speed tranny, supercharger, wheels) have a car that will spank an '03 for 45K and will be worth something in three years.
Perhaps there is something I don't understand here.
cmarsh90 said:
It's not a lease-specific issue: a car's value depreciates over time and rate of depreciation is sharpest (and amount is most) when a car is new. Whether you lease, finance, or purchase with car, you'll pay for the depreciation (milage, abuse, wear and tear, age, etc) when you sell the car. A lease kind of "boxes-in" these factors so the value at the end of the lease more known. If you get rid of the car after 39 months, you'll "rent the car" for approximately the same amount regardless of whether you lease, finance, or pay cash.
One apect of a lease that is nice, however, is the option to purchase (for the residual value) after the lease is up. In this sense, a lease is kind of like "financing but being able to sell the car for a guaranteed amount after 39 mo."
It's also not a matter of making a 91 performance like an 03, it's the experience of buying and owning a new car vs. used - and works the same for pretty much as car, not just the NSX.
Another way of asking your question is why does anyone buy a NEW car?
Some folks like having a new car, with warranty, some performance improvements that came from the factory, etc. Others like the value of a used.
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I understand the new vs. used thing and I guess it applies more than I thought here. However, usually a new car is much different than an old car (particularly one that is 12 years old), but in the case of the NSX it's virtually identical (I know the differences and I don't think you can claim that they are huge).
So is the answer to my question just that people don't mind throwing away ~33K just so they can have a "new" car even though it's virtually identical to the old one that can be had for half the price?
So is the answer to my question just that people don't mind throwing away ~33K just so they can have a "new" car even though it's virtually identical to the old one that can be had for half the price?
cmarsh90 said:
Basically: Yes, I think that's the case.
cmarsh90 said:
Different "spokes" for different folks. I am one of those that care about the differences between model years, especially the NA1 vs NA2. They are significant to me. I also like to know that the car has had no prior abuse. Something that you won't really know unless you are the 1st owner of the car.
I don't think you can say you are throwing away $33,000 extra for a new NSX. When its all said and done you are still getting a car that holds higher market value than a comparable '91.
The dealer still makes money on the lease so there is a little incentive for the dealer. They may not make a large amount on the sale if any, but something is better than nothing. If the car sits on the floor too long they dig into their advertising funds paid for by the manf. and they start to cut into other manf. incentives. Sell, sell, sell - they'll make up the loss on another less than savy car shopper. Retail flooring space is expensive.nsxtacey said:
Chris - Warranty is also an issue...for me. I have full warranty for the entire time I own the car. As you know from our discussions, I don't keep cars that long (a 3 year lease might be tough for me to withstand). Based on that, when trying to sell one exotic for another, you don't know where you'll be (financially) in the car 2 years down the road and could end up upside down in the car paying someone to take it away from you or you would have put A LOT more than $1500 down to make up for the depreciation. This way there is no stress. I know I WILL get rid of the NSX. Owning a new car, especially one of this caliber is absolutely worth it to me. I don't care too much about making my car better/faster. It is what it is. If I wanted fast, I would have kept the Viper, put a bolt on supercharger on it for $7k and called it good with a sub 11 sec 1/4 mile. I agree, if you plan on keeping a car, leasing is a bad way to go but I don't keep cars. To each his own, I did this b/c the value was there for me.
wajenkin - I paid ~$1800 including tax out the door to take posession of my NSX. Considering that is my first payment and I'll get the security deposit back at the end, not a bad deal at all. You can't get into many cars of any kind with that little cash out of pocket at least inception. Some dealers may try and ask for more down but it is not required for the lease...assuming your credit scores are high enough.
Andy
03 Blue/Onyx
wajenkin - I paid ~$1800 including tax out the door to take posession of my NSX. Considering that is my first payment and I'll get the security deposit back at the end, not a bad deal at all. You can't get into many cars of any kind with that little cash out of pocket at least inception. Some dealers may try and ask for more down but it is not required for the lease...assuming your credit scores are high enough.
Andy
03 Blue/Onyx
Ok: Here is how you can own an NSX cheap. 1. Find a banker who is a car enthusiast. (every banker I know loves sports cars) 2. Promise to let him drive the car to a special event. ( called a soft bribe ) 3. Negotiate a low interest renewable yearly note,bank of course holds the title. ( I negotiated 5% ) 4. If # 3 doesn't work roll it into your mortgage and write the interest off on your taxes. ( I like this one if you plan to keep the car) 5. Enjoy the car for a year or 2 for just the interest and insurance. ( usually bored with car after year or two) 6. Sell car to highest bidder 7. The Most important: Never buy a new NSX let someone else take the depreciation hit. My Favorite NSX pick would be any coupe with a 3.2 and 6 spd. Second any coupe thats pre steering assist. If a new car is a must, leasing sucks ( been there done that) negotiate the lowest price and use all of the above and purchase the car.
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The age old argument-leasing vs buying.
On this forum we hear a lot from new buyers vs recent sellers.
We will not know which way was better until we sell the car.
The 800/month lease is fixed--if the truth be known I would
bet that a lot of sellers ended up with a lot higher cost per
month of ownership.
The fact is that when most people sell their NSX they 1.Do not
have a great need to visit this forum and 2. they do not say what
the car sold for. Those that sold at TOP TOP dollar are probably
more willing to discuss this than those who took a pretty good
hit when they sold or traded their car
On this forum we hear a lot from new buyers vs recent sellers.
We will not know which way was better until we sell the car.
The 800/month lease is fixed--if the truth be known I would
bet that a lot of sellers ended up with a lot higher cost per
month of ownership.
The fact is that when most people sell their NSX they 1.Do not
have a great need to visit this forum and 2. they do not say what
the car sold for. Those that sold at TOP TOP dollar are probably
more willing to discuss this than those who took a pretty good
hit when they sold or traded their car
wajenkin said:
From an earlier post "Special lease rates available on all new 2003 NSX-T models. (Model NA2163PKW) for $799.00 per month/36 months/$0.00 down payment. $1,599.00 total due at lease signing (includes security deposit, excludes tax and license). "
Now, as far as the sales taxes go each state is different. I believe it used to be that the leasee would have to pay the sales tax up front to the state on the entire purchase price. Some time ago, some states changed that law to require the leasee to only pay state sales tax on the monthly lease amount (as you go) so no up front sales taxes. So, the answer is you'd have to check with your state.
Note: It says "excludes tax and license. You will have to pay whatever licensing/titling fee applicable.
cmarsh90 said:
Well, of course they wouldn't be "throwing away $33K", they'd be "throwing away" the difference between $33K and what the '01 would cost to buy.
"andymo" came up with the best argument, at least as far as I'm concerned. "Warranty" and the fact that you're not buying someone else's headache(?)
I think the fact that the new car warranty is in effect for the life of the lease is a BIG factor. You don't have to fix anything that isn't your fault. With a used car there is always the possibility (probability ?) of problems the seller knew about and didn't reveal. The car's 12 years old. Things WILL break. And fixing an "exotic" is often FAR more expensive than fixing an old Oldsmobile Cutlass.
(Never mind trying to sell the car when you want to.)
(Old stock market joke - A stock is free-falling. Customer calls the broker and says "Sell, sell !!!". The broker says "To WHO ???" (grin)
nsxtacey said:
If you are sure you have NO intention of buying the car, why would you care ?
(And if you're talking about the lease offer that was just renewed, no, terms are almost the same - see "andy's" post.)
3 years ago (Spring of '00) there was a $1K per month lease offer. I don't remember the other details of it though. Don't know about any lease in between these 2 time periods.
