From reverse calculating, it appears the lease special on the Acura site for the 2016 ILX Premium ($30,840 MSRP after destination charge) assumes a selling price of $26,806. The best quote you’ve received so far assumes a selling price of $26,340.
Here are the lease program details for your reference:
Residual: 55% (10K miles/yr)
MF: .00028
You can try pitting dealers against one another to knock off a couple hundred bucks, though $4,500 off MSRP already seems pretty good. There’s also $500 in Recent College Grad cash, which if you qualify, will help.
Cars that can be leased for a similar amount include base versions of the BMW 320i, Infiniti Q50, Lexus CT200h, and Volkswagen GTI. An Audi A3, Mercedes-Benz CLA, and BMW 228i will be a little more.
One last question: do you know if Acura (or Honda Financing, I guess) accepts security deposits like the ones listed on your Mercedes lease example in order to lower my monthly?
Unfortunately Acura does not have a Multiple Security Deposit program for lowering the MF. The rate is already pretty low, though. A MF of .00028 equates to 0.6% APR.
Is there anyway to find out, or where can I find what the residuals are for different lease terms and mileage. For example, in the Prius post, the 24month lease has a better residual in terms of over all monthly payment compared to the 36 month, which makes almost 0 sense to me. So in the case of this ILX, could it be more economical to do a 30 month lease?
Good question. Generally, the manufacturer will advertise the term that results in the lowest payments. It’s usually not the 24-month program because the manufacturer assumes most of the car’s depreciation will occur within that period. However, if there are big discounts/incentives, and the 24-month residual is somewhat reasonable, it may end up cheaper than the more common 36-month lease.
That’s not the case with the ILX, however. Its 24-month residual is too low at 61%, resulting in a monthly payment of $351 rather than $289.
One other thing that I forgot to mention. With Acura, if you go for the sign-and-drive (i.e., $0 drive-off) lease option, they’ll lower your MF by .00010. That could save about $5 per month… yay.
Sorry for the late reply. Just wanted to give you an update on what I got:
$300/month including tax, 15K miles/year, $500 drive off. I received an email ad from a dealership in the SoCal area recently (can’t remember which one) and it looks like they’re working really hard to get rid of their ILXs; I’m sure better deals can be had.
Thanks again for your help. Love the site; keep up the great work!
