Hello everyone, looking for some feedback to evaluate this lease offer I received this weekend. The car is a 2020 Acura TLX A-Spec 2.4 L with 12k miles/year and 39 month lease. I’m located in the DFW area.
MV Selling Price: $40,395
Discount: $13,497
Rebate: $1,250 (College grad and Conquest)
Adjusted Price: $25,647
Pro Pack: $1,250
Total Purchase: $26,942
Doc Fee: $150
Tax: $323
Non-tax fees: $800
Net Price: $28,215
Trade Payoff: $2,200 (covering 6 months remaining in my existing lease, 2018 Toyota Tundra)
Balance: $30,423
Residual is 48% and MF is .00225
Monthly payment with first month DAS: $395/mo
Verbally he quoted me on the phone at $375 a month and said he would cover all 6 months of remaining payments on my Tundra lease (so I can turn that in early to US bank). It looks like he just rolled some of those payments into the new lease deal, rather than actually “covering” them. Is there room for a better deal? He claimed he’s taking a loss on this deal, but I think there might be a little more wiggle room since he quoted me lower on the phone. Plus, Acura will surely send the dealer between 8-10k in rebates with the Acura financial incentives currently being offered. Certainly don’t want to miss out if I won’t be able to beat this anywhere else.
I did and it comes out with a monthly payment of about $410 after taxes and a score of 8.4. The MF really seems to wipe away a lot of the incentives, which could be why it’s theoretically higher than it should be.
Yes you can tel them you don’t want it. If you are going to roll existing car payment into your next lease (which is not recommended) you should pick a car (brand) with low interest rate.
Thanks for the advice, I appreciate it! I’ll go back and see what they say regarding the pro pack. He told me they would cover my remaining lease payments, but ultimately it looks like he’s just passing that cost back onto me.
Also find out how much of the discount is an Acura incentive. You should be able to get 12% off MSRP before any incentives on that car at the right dealer.
I just did a cursory check on Edmunds and it looks like the MF should be .00215 and the incentives look to be $8,700. That would mean they are giving about a 12% discount, which seems pretty decent. It also looks like the residual should be 49% cuz Edmunds is showing 48% for 15k miles per year. Maybe put in a request on Edmunds to get more accurate numbers based on your zip code.
Realize that rolling the $2,200 into the lease means you are paying over 5% interest on it over 3 years.
The Tundra isn’t bad, just looking for a sedan because I have a baby on the way and hoping to get something that rides smoother than the truck. Plus, I’ll hit my mileage allowance on my Tundra in a couple of months
Infants are huge fans of Toyotas. Especially if it’s like 3 months they’ll be riding in it. That’s a total of like 8 rides if you’re anything like we were with a new baby.
Keep the truck til it’s mature. Your retirement will thank you.
