2018 Acura ILX Lease Help!

Ask the Hackrs
1

Year: 2018
Make, Model, and Trim: Acura ILX Premium
Months/Annual Mileage: 36 months/7.5k
Zip Code: 60181
MSRP is $30940
Sale price $24800 + 792 aq fee. 95 title 101 doc
Residual is 50%
MF is .00056
Tax is 838.93
0 Drive Off
Monthly $327.93

What am I missing here? Why is the monthly higher than it should be?

Thanks in advance.

2

What’s the MF, seems like allot for a fancy last gen Civic, that payment is new Accord money. Oh there it is. Did you shop multiple dealers and double check the MF with edmunds?

3

Wait for the refreshed 2019’s. They drastically dropped MSRP, so $6k off will equate to a much better deal. That car in 2019 will have an MSRP of 27k which makes your deal look downright bad.

4

Agreed unless they are giving away the 2018, the 2019 is a better deal. Ultimately, this kind of money for gussied up last generation civic is crazy.

5

I think you need to re-assess your facts. A 792 acq fee? Doesn’t look right. Acura Financial charges a 595 acq fee. Did the dealer mark it up to 795? Or, are you using a different fund provider? How much is capitalized in the lease? Any cap reductions? Looks like you’re missing some data or, you have inaccurate info.
Best to ask the dealer for their lease worksheet and post it. It’s often difficult to assess information provided by anyone other than the dealer.

1 Like
6

I recently got 210/mo + 0 down for 2018 ILX base and I would wait for 2019 If i were you

7

Thank you for all your replies!

This is what they emailed me:

Quote Number: 143942

  1. Contract Date: 11/1/18
  2. Buyer Residence Info:
  3. Lease Institution: HondaL
  4. Term: 36
  5. Money Fact Sell Rate: 0.00056
  6. Stock Number: A17552
  7. M.S.R.P: $ 30,940.00
  8. L.E.V. Rt/Amt: 50.00% $ 15,470.00
  9. Mileage Penalty:
  10. Selling Price: $ 24,800.00
  11. Total Cust Cash:
  12. Cash Cap Reduction:
  13. Total Trade Allow:
  14. Rebate:
  15. Fees if Upfront: $ 95.00
  16. Fees Annual Upfrt: $ 101.00
  17. Aftermarket Products:
  18. Security Deposit:
  19. Service Contract:
  20. Maintenance:
  21. Total Sales Tax: $ 838.93
  22. Adjusted Cap Cost: $ 26,431.08
  23. First Payment Date: 12/1/8
  24. Base Monthly Rental: $ 327.93
  25. Total Monthly Payment:$ 327.93
  26. Amount Due at Start: $ 532.93
  27. Fees if in CAP: $ 792.15

The payment is for 0 drive off.

I should probably just wait to get a better deal but I start a new job Monday and don’t have a car for my commute.

8

I just noticed that your lease is only 7.5k miles. $12k for 22,500 miles of an ILX is beyond dumb. $0.53/mi lease cost is way into luxury car territory. Like, REAL luxury cars.

IMO if you desperately want an ILX and cannot wait nor can consider a different vehicle (which I cannot fathom), just buy a used one. They are dirt cheap and rock solid. I mean, they’re 9th gen Civics, so not much can really go wrong.

You can buy this one for just slightly more total cost than that lease and lower monthly payments on a 60mo:

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=494155558&zip=48331&referrer=%2Fcars-for-sale%2Fsearchresults.xhtml%3Fzip%3D48331%26startYear%3D1981%26sortBy%3Drelevance%26incremental%3Dall%26firstRecord%3D0%26marketExtension%3Don%26endYear%3D2019%26modelCodeList%3DILX%26makeCodeList%3DACURA%26searchRadius%3D500&startYear=1981&numRecords=25&firstRecord=0&endYear=2019&modelCodeList=ILX&makeCodeList=ACURA&searchRadius=500&clickType=spotlight

9

My calculated numbers exactly match all of yours (except 532.93 should be 523.93) assuming your sales tax rate is 7.6615% which is an odd ball rate. Is that your sales tax rate? Apparently, this is an Illinois lease and Illinois computes sales tax on the total base payments. Your basement payment is 304.17, not 327.93. Assuming the tax rate is 7.6615%, your tax is computed as follows…

36 x 304.17 x 0.076615 = 838.94 (close enough)

Also, you said…

“The payment is for 0 drive off.”

This can’t be true. Your amount due at start is 523.93 = 327.93 + 95 + 101

10

By the way, here is a capture of my spreadsheet…

Illinois
Illinois511Ă—544 139 KB

11

Again there are allot better deals out there for the money, go look at a Jetta even or an Accord. You’re not getting allot of car for money on this one.

1 Like
12

2019 Ilx??? Thats news to me. I was under the impression that it has been discontinued.

13

It’s still terrible

14

I’m in Florida (high dealer fees and other fees) and in September was quoted 3582 DAS 169+tax a month. It equals out to $268.50 a month. Now that 2019s are here I’ve seen ads for $130 a month with even less down they can’t give the 2018s away. I didn’t go with the car because insurance was 600 more a year compared to all the other cars I looked at. If you haven’t got an insurance quote yet, I suggest doing so.

1 Like
15

Thanks all. I skipped this one and rented a car for a month.