Close to a deal-new 2002 36 mo lease

[PFORPAUL]

Here is the deal which I feel is superior to
the 03 lease I was considering. We are at
$921 per month-ZERO cap cost reduction-$1694
due at signing-taxes are included -36 months
with 14,000 miles per year.It is an Acura
lease supposedly versus Chase or someone else.

I will be doing the deal if they will give me
another 8,000 miles for a total of 50,000
for the 3 years--I also want the payment at
an even $900 per month.

I do not know what the residual is and franky
I don't care as I am not interested in
buying it down the road.

I will be going to the dealer-if they agree
to my counteroffer. BTW car is blacl/black

 

[shiva]

Originally posted by PFORPAUL:
Here is the deal which I feel is superior to
the 03 lease I was considering. We are at
$921 per month-ZERO cap cost reduction-$1694
due at signing-taxes are included -36 months
with 14,000 miles per year.It is an Acura
lease supposedly versus Chase or someone else.

I will be doing the deal if they will give me
another 8,000 miles for a total of 50,000
for the 3 years--I also want the payment at
an even $900 per month.

I do not know what the residual is and franky
I don't care as I am not interested in
buying it down the road.

I will be going to the dealer-if they agree
to my counteroffer. BTW car is blacl/black

May I ask which dealer are you working with? I might be interested in something like that..

 

[shiva]

Also check out leasetrader.com
The last time I checked someone was trying to transfer a lease on a silver nsx. Might eveb save you the initial due at the time of signing the lease, the acquisition fee and such.

 

[PFORPAUL]

Any dealer who has a leftover 02 should be able to do the deal-provided they have not
fallen in love with their car and the expense
of floorplanning.

Suggest you go to cars.com get into the
new car section for the 2002 and click on
"pricing". This will show list price of $89,000 with an invoice of $79,213 plus dealer holdback of 2670 plus the 7500 rebate
which is good until 2-28-03.

Armed with this info-definitely show it or
fax it to the dealer at the start of negotiations - you should be able to get the
car without a hassle.Personally, I prefer
not to give the dealers my home phone number.
I call them and then I fax them my offer.

I also like to keep my wife in the dark until
the decision is made. Once I even waited til
I was going to pick up the car and we were
passing in the driveway and I asked her what
color Audi she would like as I was doing an
even swap for my 911. Women really know how
to hide their joy in such situations!

BTW-I attempt to be polite with the salesmen
as we both are trying to get the deal accomplished to the satisfaction of both
parties.Keep in mind that the owners of the
dealerships only make a hundred dollars on a
car --that is why they all have the million
dollar homes and boats!They must know how
to budget better than the rest of us.

 

[PFORPAUL]

Shiva---that leasetrader.com is a cool sight.
Probably a neat way to drive a leased vehicle
for a short period of time.Leases are easy
to get into-not too easy to get out! I
personally have only leased maybe 6 cars and
quite frankly I have not ever had a bad
experience.It is my opinion that you cannot
get out of the lease-fully-by having someone
assume it.I believe that the original lessee
is still liable if the assignee defaults etc.

 

[Nimbus]

What is your cap cost on your lease deal?

 

[PFORPAUL]

ZERO--no cap cost reduction-total due at signing is $1694.70-the payment including tax
is $921.I have not made my final offer yet.

The car is black/black with a six speed.
I really would prefer Silverstone and an
automatic,as clutch plates are not covered by
the warranty-and I can care less about the
performance difference.

 

[RPM217]

Originally posted by PFORPAUL:
ZERO--no cap cost reduction-total due at signing is $1694.70-the payment including tax
is $921.I have not made my final offer yet.

The car is black/black with a six speed.
I really would prefer Silverstone and an
automatic,as clutch plates are not covered by
the warranty-and I can care less about the
performance difference.

As I just picked up my car a week ago on the Acura lease, I have a few suggestions/observations for you to consider. Firstly, the cost per mile on extra miles isn't negotiable, it's .15 cents per mile through Honda Finance. Secondly, don't get stuck on what the monthly payment is, look at what the total amount of the payments are, over the term of the lease (include all your upfront fees). If you negotiate the lease based on higher mileage allowance, it might not be the cheapest way to go. The residual (even if you're not interested in buying the car at lease end) is very important in determining the cost of the lease. In my case, I opted for a 7,500 mile per year allowance, even though I do around 10-11k per year. If we based the lease on the higher mileage number, the residual declined by more than the dollars would be at .15 cents per mile. Why pay for them up front if I don't use them, I'm not going to get any money back from Honda. The total cost of my deal is what I look at. I chose to put up a $6,500 cap cost reduction, and to pre pay all the taxes up front. Yes I had more money out of pocket up front, but paying interest on taxes just pisses me off. Also, the interest rate on the lease is at 5.24%, and I don't know about what rate you're getting on your money, and I handle money for a living, it's not close to that rate. Because of the way I structured my lease, my monthly payments are at $630, and the 2002 NSX has the Cd changer and keyless entry as well. Good luck with the negotiations, the car is awesome-R

 

[PFORPAUL]

Thanks for the input-I assume you did a 36 monthe lease-is that correct?

The 10 cents per mile is the cost if you buy
them up front-you are correct on the change
in the residual by incrasing the miles.How
much in taxes and other fees did you pay?
Let's face it-the cost is probably identical
as the Acura money factor is the same.Mentally,your deal is more palatable
at 630 per month versus 900!

The Bmw dealer was trying to sell me a new
Bmw with a $10,000 security deposit! I figured that I would have to earn over 9 %
to beat the deal. The 10k is fully refundable
at the end. This is a Bmw company lease.

I am correct on --no warranty on the clutch?

 

[PFORPAUL]

I meant to ask---AM I correct on the clutch
warranty

 

[Lud]

Correct - the clutch is covered under warranty for defects but not for wearing out the friction plates from abuse.

 

[RPM217]

Originally posted by PFORPAUL:
Thanks for the input-I assume you did a 36 monthe lease-is that correct?

The 10 cents per mile is the cost if you buy
them up front-you are correct on the change
in the residual by incrasing the miles.How
much in taxes and other fees did you pay?
Let's face it-the cost is probably identical
as the Acura money factor is the same.Mentally,your deal is more palatable
at 630 per month versus 900!

The Bmw dealer was trying to sell me a new
Bmw with a $10,000 security deposit! I figured that I would have to earn over 9 %
to beat the deal. The 10k is fully refundable
at the end. This is a Bmw company lease.

I am correct on --no warranty on the clutch?

You are correct, it's a 36 month lease, the total amount that I put upfront, which included the first month's payment, origination fee, taxes, motorvehicle dept charges, etc. was $9778.37, if you add in 35 additional payments of $630, that's an additional $22050, if you add onto that the mileage difference of 27,500 x .15 that equals $4125 for a total cost at 50,000 miles of $35,953. I believe that my residual is $54,503 so if I wanted to, I could instead of paying the mileage penalty, buy the car, but that's a decision I won't have to make for 3 years. By then, the next NSX will be known (I think), or there might be someother car that beckons to me. I will admit, that I'm fickle, and 3 years from now, I know even though I've loved having the car, I'll be ready for something new. I wish you the best of luck with your negotiations, and hope that you get what you want, at terms that are acceptable to you-

 

[nsxtasy]

Originally posted by Lud:
Correct - the clutch is covered under warranty for defects but not for wearing out the friction plates from abuse.

I don't think the clutch is covered for wearing out the friction plates, even if it's not abused...

 

[Nimbus]

Originally posted by PFORPAUL:
ZERO--no cap cost reduction-total due at signing is $1694.70-the payment including tax
is $921.I have not made my final offer yet.

I wasn't asking about cap cost reduction.

Cap cost is what the dealer is selling you the car at. It's important to find that info out along with the lease terms.

 

[93B18]

What about the lease deal that Pohanka Acura (one of another NSX forums sponsors) has for a brand new 2002? $995/month, no down. Last time I checked they had lowered the monthly to $799/mo.

 

[PFORPAUL]

WOW ! I will make a a call today-THANK YOU

 

[Lud]

Originally posted by nsxtasy:
I don't think the clutch is covered for wearing out the friction plates, even if it's not abused...

If it fails as a result of a defect, it should be covered.

 

[PFORPAUL]

Follow up to 93b18
Terrance at Pohanka confirmed the $799 per
mo figure.Very easy to work with this
dealership.
Price does not include cd nor keyless entry.

They have two available-Imola red and a red one. I will consider the red one even though
I really want the Silverstone automatic.

Cap cost is $70,500-12k per yr-acura lease-
15 cents per mi over 12k--tax included-$1000
out of pocket.

 

[Biaggi]

Save yourself the extra $$ on the CD changer and keyless... you can add these later at around $300 for the Alpine CD changer S634 and $250 for the keyless (OEM or aftermarket)....

Good Luck!

------------------
Biaggi
92 NSX #483
94 CBR900RR

 

[93B18]

Glad to be of help. So are you going to go for it? Keep us posted.

 

[Nimbus]

Originally posted by PFORPAUL:
Follow up to 93b18
Terrance at Pohanka confirmed the $799 per
mo figure.Very easy to work with this
dealership.
Price does not include cd nor keyless entry.

They have two available-Imola red and a red one. I will consider the red one even though
I really want the Silverstone automatic.

Cap cost is $70,500-12k per yr-acura lease-
15 cents per mi over 12k--tax included-$1000
out of pocket.

How many months is the lease term?

Are you saying there are two red ones available? black interior? 6 speed right?

 

[Hrant]

Originally posted by RPM217:

You are correct, it's a 36 month lease, the total amount that I put upfront, which included the first month's payment, origination fee, taxes, motorvehicle dept charges, etc. was $9778.37, if you add in 35 additional payments of $630, that's an additional $22050, if you add onto that the mileage difference of 27,500 x .15 that equals $4125 for a total cost at 50,000 miles of $35,953. I believe that my residual is $54,503 so if I wanted to, I could instead of paying the mileage penalty, buy the car, but that's a decision I won't have to make for 3 years. By then, the next NSX will be known (I think), or there might be someother car that beckons to me. I will admit, that I'm fickle, and 3 years from now, I know even though I've loved having the car, I'll be ready for something new. I wish you the best of luck with your negotiations, and hope that you get what you want, at terms that are acceptable to you-

I am trying to figure this lease deal .....

I am assuming this was a new NSX, and given your live in New York you surely pay sales tax, lease interest rate of 5.24%, plus mileage of 7,500/yr and a monthly payment of of $630 only with walking out cost of $9778, and residual of $54.5K, at what price did you buy/lease this car!!! What was your adjusted capitalized cost? You must have paid close to $70K or lower no? That would be a great deal!!!

I got one of those American Honda Fiancing leases offered for a few days in November 98, with 7500 miles/yr, 2.0% interest rate, and out the door only $7,000 after $5000 credit for being a previous Acura owner (the Ferrari/Porsche incentive was offered to me as well he he ...

and my monthly payment is $736 ...... my purchase price was about $74K with CD changer, and some other goodies..... and my residual after 36 mos was $53.6K ...... so how come your monthly payment is so much lower .... does the purchase price make $100 difference on a monthly basis even though the interest rate is more than twice .... your total monthly payments are about $3700 less than mine over 36 mos .....

Since then Honda Financing extended the lease on an optional monthly basis for up to 24 months ..... maybe they will do so again .... LOL!

 

[PFORPAUL]

NIMBUS

Pohanka has an Imola red plus he has a regular red 2002 leftover.Not sure of the
interior colors. I do not know if I will
buy the regular red one or not. If it were
Silverstone metallic-with automatic trans-
I would jump on it.

At 799 per month for 36 months-it seems like
a great deal.I guess someone could buy it
for the cap cost of $70,500.

Talk to Terrance Bridges 703 968 6600

 

[RPM217]

Originally posted by Hrant:
I am trying to figure this lease deal .....

I am assuming this was a new NSX, and given your live in New York you surely pay sales tax, lease interest rate of 5.24%, plus mileage of 7,500/yr and a monthly payment of of $630 only with walking out cost of $9778, and residual of $54.5K, at what price did you buy/lease this car!!! What was your adjusted capitalized cost? You must have paid close to $70K or lower no? That would be a great deal!!!

I got one of those American Honda Fiancing leases offered for a few days in November 98, with 7500 miles/yr, 2.0% interest rate, and out the door only $7,000 after $5000 credit for being a previous Acura owner (the Ferrari/Porsche incentive was offered to me as well he he ...

and my monthly payment is $736 ...... my purchase price was about $74K with CD changer, and some other goodies..... and my residual after 36 mos was $53.6K ...... so how come your monthly payment is so much lower .... does the purchase price make $100 difference on a monthly basis even though the interest rate is more than twice .... your total monthly payments are about $3700 less than mine over 36 mos .....

Since then Honda Financing extended the lease on an optional monthly basis for up to 24 months ..... maybe they will do so again .... LOL!

The cap cost of the lease was 74k. The list of the car (which the residual is based on) is 89375. A 3 year lease with 7,500 miles per has a residual of 61%. The mileage over the 22,500 is at .15 cents per mile. I paid a 6,500 cap cost reduction, 1st month's payment, and taxes upfront. That's how the $9,778 was my total upfront cost. The $630 monthly payment is for the remaining 35 months. I think it's a great deal. The Pohanka deal at a cap cost of 70k has the potential for being even better

 

[NSX-GUY]

My understanding is that a cap cost reduction is not recoverable under any circumstance if the car was stolen or totalled. Is this not correct ?

That is the main reason I ALWAYS get a 0 down quote and lease.

[This message has been edited by NSX-GUY (edited 11 February 2003).]

[This message has been edited by NSX-GUY (edited 11 February 2003).]