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Discussion Starter · #1 ·
I realized that I needed a new(er) car than my 14 year old Acura (which BTW, I bought 5 years ago for 4K and not a problem in sight). I considered buying a used 2001-2002 BMW 3 series, a new Legacy, a new Infiniti g35, and a TSX. I'm still debating between the BMW, Infiniti and Acura (but leaning heavily towards the Acura -- the BMW will be outdated this fall when the new '06 3 series comes out, and the Infinity will cost me 6k+ more to buy). So, I got quoted $27,928 for a '05 TSX Navi 6spd from a dealer in a Chicago suburb (no tax, options, fees, etc. included in this price). I then inquired about leasing, and the sales rep gave me the following quotes: $533 for 36mo 12K miles; $549 for 36 mo 15K miles; and, $469 for 48mo at 12K miles all with no money down (towards capitalized cost) except the 1st mo deposit, and acquisition fee. I immediately thought those prices were too high ($533 is $30 or so less per month than if I were to actually purchase the car @ 60 months). He mentioned that since I lived in downtown Chicago (which I do) I would get taxed "double" -- Something to the effect that the state will tax me once based on the "value" of the car used" and then Cook County will tax me an additional 8.5% on the actual monthly lease amount. I have not heard of this before. I also asked for more details of the lease figures, and he emailed me this:

Lease Term Money Factor Residual Residual
12,000 miles 15,000 miles
36 month .00245 $17,441.00 $16850.00
42 month .00220 $16,258.00 $15.667.00
48 month .00220 $14780.00 $14.189.00

I used the lease calculator on, and the cost per month of the 36mo 12K lease came up to $450 (including taxes -- 8.5%), less than the $533 quoted. Hmmm....I'm confused. So, after this longwinded background information I have several questions....

1. Does anybody have experience leasing a TSX in Chicagoland?
2. Anybody who lives downtown ever encountered this double tax issue?
3. How much did you pay per month for a '05 TSX 6spd w/ Navi lease in Chicago? What can I expect? Is $533 as crazy expensive for a lease of this car as I think it is? While on that subject, is $27,928 a good deal? Are the terms of the lease good deals?
4. Can you recommend any dealers in my area?

I know I have many questions (sorry), I'm just not sure what to do. Thank all of you in advance. Any further comments and insights are of course welcomed and appreciated.

· , Moderator Emeritus
8,663 Posts
Hello and welcome! :wavey:

I honestly don't know a thing about leasing cars... But on the Cook county thing...I'm in Rockford and I bought my TSX at Muller's. I thought they were going to use my local tax %, but they told me cook county has a separate number for people buying a car in cook county who are living outside of cook county. It was like 7.2 or something % for tax.
I bought my 04 back in July of 03 and I had to pay MSRP for it..non-navi. They were really friendly but wasn't dealing on the price (at least not at that time).

Agent_Chen might be able to help you with some of the other dealerships around the Chicagoland area.

Is the 27,928 even without the destination fee? How many dealerships have you gone to? There's definantly plenty of dealerships around the chicagoland might be able to pit them against each other also...

· , Moderator Emeritus
5,757 Posts
I don't know much about leasing either, I paid for my car using a check, though when I was interested in buying my TSX back in Spring 2003. I looked around several Chicago area dealers (lived in Aurora up until August 2004) I visited the following Acura dealers: Joe Rizza Acura, McGrath Acura in Westmont and Morton Grove, and Continental Acura. All of them were charging over sticker at the time and wanted you to pay for add ons like extended warranties and such.

The salesman at Rizza Acura tried really hard to get me to lease the car The lease rate were giving me back then was $559 for 48 months and 10k mile per year for a Milano Red TSX 5AT. I didn't want Milano Red and was leaning more towards Carbon Gray and Arctic Blue. I didn't like leasing and my cousins told me don't lease because of the hidden fees and mileage overage charges. I ended up going south to buy my TSX I couldn't stand Chicagoland dealers and their sales pressures, overpricing, and under stocked inventory (back in 2003, now there should be more selection). McGrath wanted to add some extended warranty and protection package to the car for an extra $1,000.

I bought my TSX in Overland Park, Kansas at Superior Acura, called them up and negotiated a price for an Arctic Blue TSX ($26,500, included OEM spoiler, mudguards, wheel locks) I then had them ship it to St. Louis for me to pick up, at no cost...however, in 2004 I had to pay both Kansas (8.5%) and Missouri (6.75%) tax on my car.

Leasing is good if you plan on using the car for several years and then getting a new car.
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