[Migs]

Been in the market for a few months for a new car. Initially I was interested in the k5, but every Kia dealer near me is marking everything up. A family friend works through a leasing company and has a good relationship with Acura, I can obviously finance if I want but interest rates are high currently so I wanted to see how leasing would look, For an integra a spec with the technology package. NY taxes and everything included would come out to 537 a month. 10k miles a year for 36 months, Msrp is 37,375. Residual value 22,437. Money factor .00135, im completely new to purchasing or leasing a vehicle so I appreciate the help guys. Wondering if this is a good deal or not.

 

[DaveInBK]

Been in the market for a few months for a new car. Initially I was interested in the k5, but every Kia dealer near me is marking everything up. A family friend works through a leasing company and has a good relationship with Acura, I can obviously finance if I want but interest rates are high currently so I wanted to see how leasing would look, For an integra a spec with the technology package. NY taxes and everything included would come out to 537 a month. 10k miles a year for 36 months, Msrp is 37,375. Residual value 22,437. Money factor .00135, im completely new to purchasing or leasing a vehicle so I appreciate the help guys. Wondering if this is a good deal or not.

This does not seem like a good deal and it may be better to buy the car or consult a lease broker. The rule for a great lease used to be called the 1% rule - if you can get the payment to 1% of the value of the car, with nothing down, you've got a screaming deal. In today's constrained supply environment and with higher interest rates, this has become impossible. But you're pretty far from that deal.

Your money factor is pretty good (multiply by 2400 to come up with the APR) at 3.24%. What you need to focus is trying to get them to discount it off MSRP, which they'll only do if they have Integra's sitting on the lot and collecting dust for more than a month or two.

Also, never put money down on a lease, cuz if you crash the car, you don't get that money back. Only put down first month and dmv fees. For more tips on leasing, I'd consult Leasehackr.com. That site helped me get a screaming deal back in 2017.

 

[Migs]

This does not seem like a good deal and it may be better to buy the car or consult a lease broker. The rule for a great lease used to be called the 1% rule - if you can get the payment to 1% of the value of the car, with nothing down, you've got a screaming deal. In today's constrained supply environment and with higher interest rates, this has become impossible. But you're pretty far from that deal.

Your money factor is pretty good (multiply by 2400 to come up with the APR) at 3.24%. What you need to focus is trying to get them to discount it off MSRP, which they'll only do if they have Integra's sitting on the lot and collecting dust for more than a month or two.

Also, never put money down on a lease, cuz if you crash the car, you don't get that money back. Only put down first month and dmv fees. For more tips on leasing, I'd consult Leasehackr.com. That site helped me get a screaming deal back in 2017.

So I actually spoke to a lease broker I found on lease hackr. He was able to bring the price down to 450, and said he can also get 4-6 percent off msrp. Said at the end of next month he can get 6 percent off. And yea the 2300 I’d put down is for NY taxes, dmv fees and the first month payment. Does this deal sound better ?

 

[DaveInBK]

So I actually spoke to a lease broker I found on lease hackr. He was able to bring the price down to 450, and said he can also get 4-6 percent off msrp. Said at the end of next month he can get 6 percent off. And yea the 2300 I’d put down is for NY taxes, dmv fees and the first month payment. Does this deal sound better ?

Yeah wait until the end of the month...and also run the numbers for a purchase too, assuming you may want to keep it for longer than 3 years, a purchase would put you ahead.

 

[Migs]

Yeah wait until the end of the month...and also run the numbers for a purchase too, assuming you may want to keep it for longer than 3 years, a purchase would put you ahead.

Yea I’m gonna have him run the numbers for both. Financing would be more monthly but it could still make more sense to finance. Gonna wait till the end of next month.