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2013 and earlier-Acura MDX Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,518
edited January 30 in Acura
Hi everyone. Please use this discussion to post any specific questions that you have about leasing an Acura MDX.

Car_man
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  • mdxfan2mdxfan2 Posts: 3
    Hi, I live in Minneapolis and considering a lease. This is my first time leasing ANY vehicle so I just wanted to get an idea of the price negotiation in the leasing area. Currently Acura is offering a $399/month, 36month, $3k down and $23k purchase at lease end option.
    First of all - are dealers willing to negotiate on this deal or its pretty much firm and if they do what kind of deal can I expect ? What did they give for you ? Which things are most negotiable (new vehicle price, lease end(depreciated) value, monthly, down, option to purchase at lease end price, etc..) and what are not ?

    Secondly, is it a good idea to purchase an MDX at the end of the 3-yr lease at that price or it doesn't make sense ?

    Thanks!
  • Greetings mdxfan2. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    As far as the specific lease that you mentioned goes, manufacturers usually leave a little meat on the bone so to speak with their advertised lease payments. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you negotiate a lower selling price on this truck than the one that was used to arrive at the advertised payment, and there is a good chance that you will be able to, its monthly payment will be a little lower. The selling price is really the only aspect of leases that is negotiable. You need to make sure that the dealer that you are working with is using American Honda Finance Corp.'s buy rate lease money factor to calculate your truck's payment though. Consumers can and should lease vehicles without making any sort of capitalized cost reduction, aka down payment. If you opt for a zero down lease though naturally your monthly payment will be higher than if you had put money down. Vehicles' residual values, and in turn their lease-end purchase prices are not negotiable at lease signing. Some banks will negotiate the selling prices of leased vehicles a month or two before they are scheduled to end, but you can cross that bridge when you come to it.

    Car_man
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  • Looks like you have a new format. Just as good!!!

    You might see me on some other post (FX35-Audi Allroad-Pilot)

    I am in the market for a new SUV/Wagon.

    I am hoping to get the sept residuals and money factors of 2005 MDX's 3 years 15K a year

    Thanks KA
  • Hi someguy1. Here is the information that you are looking for. If you were to lease a 2005 Acura MDX (non-touring and without the navigation or entertainment systems, through American Honda FInance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00160 and 58%, respectively. Let me know if you have any other questions.

    Car_man
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  • Car_Man, Thanks for the info... 1 more question, does the touring with dvd and nav change the figures? That is how I would like to configure the truck.
    KA
  • Hi. I'm looking for touring w/Navi. got offered $39600 + Tax, etc.
    Leasing offer was as below.

    42months.
    $700
    20,000 mile /year
    Downpayment $1000

    Is this good deal?

    Thanks for your reply. :)
  • You're welcome someguy1. The lease money factor for the loaded MDX that you are interested in would be the same, but its residual value for an otherwise identical lease would drop to 53%.

    Car_man
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  • Hi clickclick. I would be happy to give you my opinion on the lease that you were quoted, however it would be a big help if you were able to provide me with this truck's full MSRP (including destination).

    Car_man
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  • I don't consider myself an expert by any means, but just leased an Base MDX (not Touring) in Boston area with following terms:

    Purchase price - 34,300 (includes adding roof rack which is not standard on Base MDX)
    42 months
    15K /year
    Res val: 20,258
    Monthly payment: 412.25 (plus 5% MA tax)
    Down: 3397 (1599 plus 1st month payment, plates/reg, bank fee, plates and registration, sec deposit, 5% tax)

    I have no idea if this is a good deal or not. I did try and negotiate the purchase price close to invoice and got them to throw in the roof rack after that. Its such a painful process -- back and forth to the manager with this and that, its enough to drive you crazy....I also was negotiating a trade in on top of everything else. I probably could have pressed for more off the purchase price, but frankly after about 2 hours, I was tired. Well, good luck. Its a great truck, can't wait to pick it up in a few days. I got Sage with black interior.....
  • Base MDX MSRP = $37,500

    36 mo, 12K miles
    $399/month includes 6% NJ tax
    Cash at time of signing = $2690 includes all fees/sec dep/first mo payment/lic/etc

    Good Deal or keep at it?
    Thanks!
  • Thanks for taking the time to share the details of your deal with everyone, rfmdx. There's nothing like real world examples to give consumers an idea of how much they should bay to lease the vehicle that they are interested in.

    Car_man
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  • Hi rickydog. You never mentioned the selling price of the truck that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the Acura MDX that you are interested in for you if you let me know what its selling price is.

    Car_man
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  • Selling price was 33,500.
  • The lease would be as follows ...

    MSRP $40,295 Cap Cost $35,200 36 months at $498.94 plus tax or $535.11

    12,000 miles per year allowed Payment based on El Dorado County Tax rate

    Total Drive Off $882.12 (includes first months payment, license fee, doc fee and CA tire tax)

    Good deal? I sent another dealer the deal and they said they could beat the monthly payment by $6.
  • Thanks for the additional information rickydog. OK, so you are interested in leasing a base 2005 Acura MDX that has an MSRP of $37,500 and a selling price of $33,500. It definitely appears to me as though you are getting a good price on this car. Let's use these numbers along with Acura's current lease program to calculate a lease payment on it. According to my calculations, if you were to lease this truck through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $396. As you can see, the quote of $399 per month including tax is very attractive. If you like the truck, I don't see any reason not to pull the trigger on this deal.

    Car_man
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  • Hi kwyoon. The selling price that you were quoted for this truck looks good to me, but I cannot seem to get its monthly payment to cone out as high as the one that you were quoted. I calculated a lease payment on it using the information that you provided and Acura's base lease program and here is what I came up with. According to my calculations, if you were to lease a 2005 Acura MDX Touring without the entertainment or navigation systems with an MSRP of $40,295 and s selling price of $35,200 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $423. Even if you were to add the navigation and entertainment system options, the payment only increases to around $454. Something is not adding up here. You may want to ask your dealer to go over the calculations with you or shop around a little bit. Make sure a money factor of .00160 is being used to calculate your MDX's payment. Perhaps these dealers are using th $1,500 dealer cash that Acura is providing on this model right now to reduce its selling price and then running your lease through an independent bank. The dealer cash is not compatible with the aforementioned special lease program.

    Car_man
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  • Hi Car_man,

    Thanks for your analysis. Well, they reduced it to:

    $513.94 ($479.20 pre tax) for 36 months with 12k miles per year with $860.95 due at signing.

    Will I do better negotiating $37,000 as the purchase price and go with the special lease through AHFC?

    I am supposed to go to the dealer tomorrow morning.

    Thanks!
  • vsaxenavsaxena Posts: 201
    In general the purchase price has absolutely nothing to do with getting the lease special. The lease special determines the residual (% of MSRP) and the money factor. These factors are indtpendent of the purchase price. First negotiate the lowest puchase price, then ask them to give you their buy rate from AHFC, without a markup. That is the starting point of the negotiation.
  • Hi vsaxena,

    But Car_man said that the $1500 dealer cash is not compatible with the special lease from AHFC. Therefore, the deal would be $35200 + $1500 = $36700. That is $300 over invoice (including destination). Maybe I could get them down to $36500. If I'm getting $35200 for the purchase price, then they are probably using another bank.

    Thanks.
  • Hey, Someone may want to fully check on this but I was told that the lease deal was good with the marketing support as long as the lease was not 36 months. The dealer in the miami area said they were doing 39 months so that they could take advantage of both. Hope this helps, Will
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