2005 acura lease offer

[nsxtacey]

The lease offer got worse from 02-04

http://www.acura.com/eacura/eacura_...rl=http://eshopping.honda.com/AllSpecials.asp
Terms and Conditions

2005 NSX SPECIAL AHFC LEASE/PURCHASE PLAN

Special lease rates available on all new 2005 NSX models. FEATURED SPECIAL LEASE* for 2005 NSX 6-Speed Manual Transmission (Model NA2165PKW) for $799.00 per month for 42 months with a $1,999.00 capitalized cost reduction. $4,193.00 total due at lease signing (includes first month’s payment, security deposit, capitalized cost reduction and upfront AHFC acquisition fee. Excludes tax, license, registration, options and the like). Subject to limited availability. *The specific featured lease listed is not available to New York residents. New York residents should contact their dealer for New York featured lease. Terms and conditions vary for New York Residents. In addition, AHFC limits leasing terms to 39 months or less to residents and dealers in the state of Rhode Island.

Offer valid for new and unregistered vehicles only and only on approved credit by HFS (Honda Financial Services) through participating dealers. HFS' standard credit criteria apply. FEATURED SPECIAL LEASE for 2005 NSX 6-Speed Manual Transmission (Model NA2165PKW). MSRP $89,570.00 (includes destination). Actual net capitalized cost $80,305.29. Dealer participation may affect actual payment. Taxes, license, title, registration, documentation fees, options and insurance extra. Total monthly payments $33,558.00. Option to purchase at lease end $55,533.40. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 7,500 miles/year. SEE DEALER FOR DETAILS. The specific featured lease listed is not available to New York residents. NY residents should contact their dealer for NY featured lease. Terms and conditions vary for NY Residents. In addition, HFS limits leasing terms to 39 months or less to residents and dealers in the state of Rhode Island. Offer valid from November 11, 2004 through January 5, 2005.



©2004 Acura Division of American Honda Motor Co., Inc. All information contained herein applies to U.S. vehicles only. Please see our Privacy Policy and Legal Terms and Conditions.

 

[jgtcnsx]

i hate leases imo

 

[newby]

That's the payment I make on my 1997, which looks brand new. The difference is I saved the $6000 in extra costs, and the car will paid off in about 50 months.

I'm not a fan of leasing either.....maybe a cheap get around car like a saturn or chevrolet might be worth while....but an NSX...???

I guess if you've got the cash to switch it up every few years....do it!!

 

[Doc C]

Not a fan of leasing either. However, the NSX is the first car I've ever leased because of the possibility of a new HSC/NSX coming out. If the new one EVER comes out, I think the value of current model will plummet. At least it will be worth less than the residual. The lease protects that because of a fixed residual. Then, I go in and get a new HSC/NSX and leave them the keys to this one. If no new NSX, then mine should beat the residual easily. I can then sell it for more than residual, or buy it myself at the residual with a known owner history. This lease (2004) had an effective interest rate of less than 2% and so it's costing me much less over the 36 months than with a loan. Plus, the money I would have put down on it for a purchase can make me at least 4% if not much more over the 36 months. I think a daily driver would be worse to lease because of the mileage penalty you would pay vs. a car like the NSX that tends to get limited use and lower mileage. Lastly, being a business owner, I can write of some of the lease pmts. I've never been a fan of leasing, but I get the itch to buy something new and different every 2-3 years anyway, so I'll always have a payment. It seems that driving this car for less than 2% interest is a great way to go. I guess I could buy a Chevy Cobalt for 0% interest, but the thrill isn't quite the same!!!!! Again, not a fan of leasing in general, but THIS lease seems like a pretty good deal. People always say, "People who lease can't afford to buy a car like that!!!!" People that say that have never applied for a lease through American Honda. I think adopting a kid would be easier to qualify for. They are pretty strict on who they lease to, so I think most people that can meet the income/credit criteria could easily buy this car if they wanted to. Take care.

 

[newby]

I see your point on this lease deal. I get that same itch to buy something diffferent, and this way it saves you the hassle of having to sell. However, when this is all said and done, you have spent $40,000 to drive this car for 42 months. That's a lot of cash to spend on a car that gets maybe 5-9000 miles a year. Would you loose that much if you bought it new....I guess it's possible but not likely.
Like I said before, if you have the money then it only makes sense to spend it. But for someone like me.....I'd feel pretty sad the day I had to return the car and I leave the dealership without a dime in my hand.

 

[nsxtasy]

However, when this is all said and done, you have spent $40,000 to drive this car for 42 months. That's a lot of cash to spend on a car that gets maybe 5-9000 miles a year. Would you loose that much if you bought it new....I guess it's possible but not likely.
Like I said before, if you have the money then it only makes sense to spend it. But for someone like me.....I'd feel pretty sad the day I had to return the car and I leave the dealership without a dime in my hand.

The theory behind leasing is that you are financing the reduction in value, rather than the full amount of the purchase price - and that it shouldn't make a difference whether you buy or lease.

Think of it this way. Let's use some round numbers and toss out two examples. (a) You lease. You pay out $40,000 in 3.5 years for the use of the car. (b) You buy the car new for $85,000 including sales tax. You sell the car after 3.5 years for $60,000, for a loss on the sale of $25,000. In addition, you incur a cost of $15,000 for the amount of money you have tied up in the car - either because you paid cash and you could have invested the money in other assets and earned a return of $15,000 over those 3.5 years, or because you got a car loan and you paid $15,000 in interest.

In either case, you paid $40,000 for the use of the car for 3.5 years.

I agree that leasing is not for everyone - and, in particular, that if you can't afford to buy the car with a conventional car loan, then you probably shouldn't be leasing it, either. But the argument that you are "left with nothing" doesn't really hold up when you're looking at a depreciating asset; you are paying for the loss in value, and the money tied up in the asset, whether you buy it or lease it.

 

[Doc C]

There is no question that if you pay cash to buy the car outright, it smokes any form of financing or buying. And it obviously depends on each individual and where they are financially at any given time. I would rather have the use of the $80K for 42 months for capital improvements in my business or house or to simply put in a CD for 5%. That money would earn me $14,925 in 42 months. The total of my lease pmts is $28,764, and so the interest alone would pay half of my lease pmts. over that time. Granted, I have no equity in the vehicle at the end of 42 months, but I still have the 80 large plus any interest it's earned. Or, even with this lease above the total out of pocket is $36,952 for 42 months. You could buy it then for $55,532 cash and have about $92,500 invested in the car. If the $80K was financed at around 4% for 42 months, you would end up with a total cost of around $92K +/-. If a new model comes out, you may not be able to get the residual value if you purchased it. If there is no new model, you may beat that residual. It's what makes this particular lease somewhat unique vs. a lease on a Viper or something similar. They may come out with a new Viper, but it would not be the first huge model change in 13 years as with the NSX. So, it's whatever each person chooses to do. I've seen blanket statements saying that leasing is stupid, or financing is stupid. They can both be stupid, depending on the circumstances. There are tax benefits that can help as well. I just haven't seen a car of this caliber go for this low of a money factor or payment. I know there are all kinds of different slants on this, and they are all probably right, because each person must do what they need to. This is just my own personal thoughts and I'm not trying to say it is better or worse than anyone else's. Take care and good luck. Whatever you do, get a damn NSX. You won't be sorry!!!!!

 

[RyRy210]

What are the chances of this offer being extended beyond the 1/5/05 expiration date?

 

[The Kid]

The chances of this lease special being extended is a guarentee... :smile:

 

[awsomr1]

Here is my .02 on this, very simple. Finance the car with $900/month payment for 42 month, you might be able to finance $50k (depanding on credit and bank's finance programs), which mean you need to put $45k initially. On a lease, you will have less than $5k initial investment and $900/month payment, which gives you $40k pocket change to spend or invest and make money to pay for your NSX.

Plus the car is not yours until you pay-off the loan, it belong to the bank. I would take the $40k in my pocket anyday.

JMO

 

[Eric5273]

What everyone forgets is that those of us who own a business can have our business lease the car. My accountant has told me I cannot have my business purchase the car, but it can rent or lease. So I lease and do not have to pay income tax on the money spent on the car payment. That saves quite a bit of money right there.

 

[nsxtacey]

http://www.nsxprime.com/forums/showthread.php?t=34222

http://www.nsxprime.com/forums/showthread.php?t=31404

My whole point was that the 05 lease is not as good as the 03 or 04 lease offer w/ 0 down and all else equal. The money down goes to cap reduction to offset the lower risdual...probably because the nsx just doesn't hold its value like it use to. Maybe honda is bracing for the 2nd gen. nsx.

 

[Eric5273]

My whole point was that the 05 lease is not as good as the 03 or 04 lease offer w/ 0 down and all else equal. The money down goes to cap reduction to offset the lower risdual...probably because the nsx just doesn't hold its value like it use to. Maybe honda is bracing for the 2nd gen. nsx.

It appears that is the case. My lease of my '03 NSX was no money down but my buyback is $58k. Unless my financial situation drastically changes for the better, I doubt I will be buying it. I cannot imgaine having a higher payment for a 3-year old NSX than I had when the car was brand new. The new C6 vette is starting to look like an attractive option, but I will have to see at the time.