I'm new to this forum. I was going to go and lease a new NSX. My thought process was that if the new NSX coming out in '05 or'06 was awesome, then I would not have to worry about accelerated depreciation on the current model and could just turn in keys and walk away. If the new one sucks (unlikely) then I would have one of the last good NSXs that I could buy with a known owner history. I've never leased a car before. I've always purchased. I went to the dealer and they would not approve my lease application. I have great credit, and they told me that I could easily qualify to buy the car, but not to lease the car. I guess I'm confused as to why I would be approved for a monthly payment of over $2,000+, but not approved for a $799/month lease. A friend of mine thinks that the lease is a bait and switch tactic to draw people in and create interest. The only people who would qualify for the lease could simply purchase the car outright. Others who make the money and have decent credit will be declined on lease but approved at a much higher interest rate than Acura would make on a lease. Any thoughts or suggestions?? I desperately want a new NSX, but I would rather not pay the higher interest, or the possible deprecitation when the new model comes out. By the way, this website is easy to use and more informative than any other car forums I've seen. The FAQ section is outstanding. I apologize if my question was addressed in there, but I did not see anything when I was in there. Please share your thoughts.
NSX Lease
- Thread starter Doc C
- Start date
There are people here that have been able to take advantage on acuras amazing lease deals on 2002-4's.
They would not tell you why you were declined?
I would probably go to another dealer aswell.
If that fails, I would just get a 97 NSX because it is just as good as a 2004 in everyway except the lights.
They would not tell you why you were declined?
I would probably go to another dealer aswell.
If that fails, I would just get a 97 NSX because it is just as good as a 2004 in everyway except the lights.
Here's a bunch of people that did the lease http://www.nsxprime.com/forums/showthread.php?s=&threadid=30728&highlight=lease+799
it all depends on the dealer, the operative words are "dealer participation may affect acutal payment" thus, the dealer can lease it to you for whatever they want
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 for 2004 NSX (Model# NA2164PKW). MSRP $89,765.00 (includes destination). Actual net capital cost $83,040.24. 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 $60,142.55. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 7,500 miles/year. Lease rates subject to change without prior notice. Offer valid from March 2, 2004 through May 3, 2004.
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 for 2004 NSX (Model# NA2164PKW). MSRP $89,765.00 (includes destination). Actual net capital cost $83,040.24. 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 $60,142.55. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 7,500 miles/year. Lease rates subject to change without prior notice. Offer valid from March 2, 2004 through May 3, 2004.
It is true that you need stronger credit to lease a vehicle. I do not think they would be jerking you around. The dealer does not care how the car is sold-it is just about the gross profit. They want that unit over the curb. You can always try again at the end of the month. Typically, it is never a good idea to lease the car if you are going to buy it. You pay much more for it in the long run.
Excellent!!! Thank you all so much. I would only buy the car after the lease if the new model was a dud. I don't think that's going to happen. Different dealers do make a difference. Even before I got your replies, I called two other dealers. One said they would NOT participate in that lease deal at all, and the other would, but wanted a cap cost of $86K. The salesman and finance manager said they would call Honda finance and ask what was up because they were confused. They had no idea. They said they could easily lease me any other vehicle, or finance me on an NSX with 5-10K down. They did do one thing a little strange. I asked to prepay for mileage over the 7,500 miles per year. They said there was no such offer on the NSX, that they would just adjust the residual down for a 10K or 15K mileage a year lease. When the salesman and I figured it up, it came out to about 20.7 cents a mile that you would be essentially prepaying because that would make your monthly payment more. If I never drove the car that much mileage, I would get no refund. If I didn't agree to this and went over on the normal 7500 mile lease, the penalty is 15 cents a mile!?!?!? It doesn't make sense to do that upfront and pay more for it when you may not need it. Something seems fishy about that. Even more so as I've typed it out here!!!! Anyway, thank you guys (and I'm assuming ladies) for all your advice. I want to get an NSX just to be a part of this forum. Take care.
Doc C
Doc C
There is a 2004 Red on ebay that says he will do lease. I think the dealer is in CT. Give them a call. Goodson Acura in Dallas has always been good on the phone. Are you set on new body style? I have thought about lease as well but decided against it. For examle, 5K down and 800 mo for 60 mos @5% will get you a car for 47-48k range. This should get you into the 99-00 model. In 3 years, if you gave the car away for 25k it would cost about 700/month or sell at 30K and cost would be 555/mo. There are 91-92's selling for more than 25K. I reason that this car will be only 6-7 years old and still bring all the money.
I am basing this assumption without maintenance and total drop on depreciation. I do not believe the new model will make otherw worth less. It should increase interest and the new ones will have limited availability.
I am basing this assumption without maintenance and total drop on depreciation. I do not believe the new model will make otherw worth less. It should increase interest and the new ones will have limited availability.
You can also call Paul Spencer at Gunn Acura in San Antonio. He is a friend of mine and will do whatever necessary to help you out. Gunn also gives a 25% discount to NSXCA members for parts.
His number is 210-696-2232 or 800-328-4866.
It sounds like the dealers you have talked to so far aren't very good, since they don't even understand their own lease programs.
Good luck!
Todd
His number is 210-696-2232 or 800-328-4866.
It sounds like the dealers you have talked to so far aren't very good, since they don't even understand their own lease programs.
Good luck!
Todd
Once again.....Thanks!! body style doesn't matter to me. I love them both. I agree on the dealers. The one I was dealing with has not sold an NSX in over
2 1/2 years and they sell them by order only. The salesman had to look up the lease program. They weren't familiar with it at first. I've received some PMs and all this help on here as well. It's raining like hell here, so I think I'll make some calls and do some surfing and searching on the internet. I just got rid of my 2003 Lexus SC 430 and while I no it's not in the same sporting class as an NSX, it was MY sports car. With it gone, I've got to get something else. I test drove a 2000 NSX two weeks ago. I've not stopped drooling. Good thoughts on the '99-'00 model. That is a very good idea. I just don't want to get one that's had the hell driven out of it. My house has a climate controlled garage with car wash drain in the middle. I baby my vehicles. I just would have to find one that's been babied as well. Thanks again for the tips!!!
Doc C
2 1/2 years and they sell them by order only. The salesman had to look up the lease program. They weren't familiar with it at first. I've received some PMs and all this help on here as well. It's raining like hell here, so I think I'll make some calls and do some surfing and searching on the internet. I just got rid of my 2003 Lexus SC 430 and while I no it's not in the same sporting class as an NSX, it was MY sports car. With it gone, I've got to get something else. I test drove a 2000 NSX two weeks ago. I've not stopped drooling. Good thoughts on the '99-'00 model. That is a very good idea. I just don't want to get one that's had the hell driven out of it. My house has a climate controlled garage with car wash drain in the middle. I baby my vehicles. I just would have to find one that's been babied as well. Thanks again for the tips!!!
Doc C
Hi Doc,
I just lease my from Acura of North Scottsdale, and had the car truck over to me in So. Cal. They bend over back wards for me to the get lease approve. (Great Credit with Lots of Debt. Just bought a house so my FICO was just over 600)
Give them a call, I'm sure they can do something for you.
James
I just lease my from Acura of North Scottsdale, and had the car truck over to me in So. Cal. They bend over back wards for me to the get lease approve. (Great Credit with Lots of Debt. Just bought a house so my FICO was just over 600)
Give them a call, I'm sure they can do something for you.
James
Left Lane,
Called Paul Spencer. He had some excellent advice. He said he thinks that dealer may have a buyer in KC at a higher price and that's why they are stringing me along. He said there is no gray area in a lease. It's yes or no and should take an hour or less for approval. They've been dragging on for over a week asking for everything but a drop of blood and a rectal exam. EIther that or they are wanting to hold the car, or they want to get a bigger down payment out of me to increase dealer profit. My wife's and my FICO are over 700 and we have no other debt except mortgage and student loan. I called the other dealer in CT. He said same thing that Paul said. I think it's time to try another dealer. Thanks awsomr for the info. By the way, I love your new car!!!
Doc C
Called Paul Spencer. He had some excellent advice. He said he thinks that dealer may have a buyer in KC at a higher price and that's why they are stringing me along. He said there is no gray area in a lease. It's yes or no and should take an hour or less for approval. They've been dragging on for over a week asking for everything but a drop of blood and a rectal exam. EIther that or they are wanting to hold the car, or they want to get a bigger down payment out of me to increase dealer profit. My wife's and my FICO are over 700 and we have no other debt except mortgage and student loan. I called the other dealer in CT. He said same thing that Paul said. I think it's time to try another dealer. Thanks awsomr for the info. By the way, I love your new car!!!
Doc C
I called back my original dealer and talked to a different salesman. I asked if they had any NSXs. He said two black ones, one new one used. I said I was looking for a silver one. He said they haven't had a silver one for about 5 days. I didn't identify myself as the guy who had put $1,000 deposit down on a silver one at that dealership a week ago. Man I was pissed. They've sold the car and have been yanking my chain!!! I called back and talked to my salesman. He said that he has a black one coming in two weeks and he was going to try to trade for a silver one. He said he was only now aware that the silver one was gone and that they had put the $1,000 back on my credit card when it was sold. Paul Spencer had warned me that something was wrong with this deal in KC. I bet they sold the silver one rather than leasing it. They would make more money that way. My problem is the deposit. I thought that meant something. I guess not there!!Thanks for all your help!! I WILL be a bonified owner of an NSX soon!!!
Doc C.
Doc C.
Doc C,
Acura 101 West in Calabassas (Los Angeles), CA has a Silverstone Silver with Onyx interior. Greg Montano (Sales Manager) 818 / 222-5555. I looked at it today and they REALLY would like to sell/lease it (they will honor Acura's lease). If it had the silver interior it would have most likely have been in my driveway tonight. I was originally going to buy used but Acura's lease is very hard to pass up.
Mark
Acura 101 West in Calabassas (Los Angeles), CA has a Silverstone Silver with Onyx interior. Greg Montano (Sales Manager) 818 / 222-5555. I looked at it today and they REALLY would like to sell/lease it (they will honor Acura's lease). If it had the silver interior it would have most likely have been in my driveway tonight. I was originally going to buy used but Acura's lease is very hard to pass up.
Mark
Got one today!!!! I just leased a Silver/silver '04. No problem qualifying. It will be a week or so before I can get to pick it up or ship it, but it's a done deal. By the way Fallingdown4U, there is a silver/silver on its way to Colorado Springs in 2 weeks. Just letting you know. Thanks for the tip in California by the way. I found mine in Austin, TX. Left Lane, Paul Spencer is awesome. I'm not doing the deal with him because the dealership in Austin contacted me about the car. He has been very nice and very helpful though and if anyone is interested in any Acura they should call him. I wanted a silver/silver and that's what Austin had. I didn't want to wait around and let them sell it out from under me like in KC. Thanks for all your help. I hope I can help out a newbie like you guys did me. 
Doc C
Doc C
