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Comments
MDX Base
Term - 36 months
12k Miles per year
MSRP - $40,910
Initial Cap Cost - $37,729
Total Add Cap Costs - $595
Adjusted Cap Cost - $38,324
L.E.V. % - 58%
Lease End Value - $23,727
Money Fact Sell Rate - .00197
Base Monthly Rental - $527
Total Annual Fees - $161
Total Initial Fees - $57
Total Sales Tax - $569
Amount Due At Start - $762
Total Monthly Payment - $543
Anyone else have any opinions on the deal I was offered? THANKS!
In the market I'm in it's not easy to get a deal much better than around $600 over invoice PLUS dealer fees, etc.
I got a slightly better deal than this and am having no regrets about it.
I did a little better than this. I did put down $1500 including 1st payment of $500 plus dealer fees , taxes, etc. Total amount paid for the lease after 36 months will be $19,000.
On your deal you will have paid a total of $19,767 after 36 months. That is assuming the $762 you mentioned includes your 1st payment of $543.
Get all your local dealerships to compete for your business. Make an offer of $500 per month including tax plus $1500 down to cover 1st payment, dealer fees, taxes, tag, etc. Ask the dealership to throw in the protection package...I got this in my deal...wheel locks, all-weather mats, rear cargo liner.
Please look at my earlier post for details on my deal and have the dealership(s) match it or better yet beat it. I probably could have done a bit better if I would have been more patient but I did not have the time. All things considered (its an awesome machine!!!) I feel very good about the deal I got.
I am confident you will succeed Let us know how you did.
Good luck
MDXSFLA
I am looking for a base MDX lease for July, also in Florida.
Would you kindly name the dealership you did business with?
I am in the Tampa area but would travel to the other side of the state to get a better deal.
Thank you.
HPOWDERS
15601 Pines Blvd
Pembroke Pines, FL 33027-1204
They just opened a couple weeks ago. Very nice group...no pressure.
MDXSFLA
Thank you so much for this information. I am currently locked into a BMW lease which ends in July. I will propose an offer to Pembroke in June.
Thanks again!
HPOWDERS
You can get the wheel locks from www.hondacuraworld.com for about $65 and install them in an hour. Window tint and clear bra almost always cost more from the dealer than you can get them for, often from the same shop the dealer uses.
Invoice price on an '08 MDX RES is about $42,400 including destination charge, so if you are paying $43,300 including destination charge and no other dealer fees I would see that's not a bad deal, but you might be able to do better.
Dealer name is Davis Acura
Also, the dealer has told me that these accessories do not have any residual value but I have heard otherwise. Anyone know what type of residual accessories have?
Thanks!!
No. It's the invoice price ( which includes the $715 destination charge). With gasoline prices high and sales of SUV's low, it is the MAXIMUM price I would shoot for. One must add the sales tax and a few miscellaneous fees for the true OTD price.
In this environment, YOU are in the driver's seat. I wouldn't settle for anything more than invoice price on the MDX or any other gas-guzzler. Those big SUV's are clogging up dealers' lots. Few folks are buying them.
I wouldn't offer more than invoice for the MDX at this time, since it only gets around 18 mpg and uses premium fuel.
I was thinking of getting an MDX for over a year now, but only being able to go 18 miles at about $4 a gallon is giving me a headache!
Guilty as charged.
I currently drive a 545i and the 325 hp V8 is quite intoxicating. Talk about conspicuous consumption! (See a small photo of my silver rocket on my Car Space page).
It really is a good time to be shopping for an MDX as they begin to pile up precariously on dealers' lots.
Anybody who would consider buying an MDX at a price above invoice at this time, simply isn't doing his homework.
This might change as the economy worsens, but most of the people that I see getting invoice or below invoice deals are in parts of the country where an AWD SUV is a luxury, not a necessity as it is here (if you need to get in to your office every day and 6-12 inches of snow are common in the winter you kind of need a bigger AWD vehicle) and also areas of the country where the economy is particularly soft.
I'm sure that if gas continues to climb then we will see continued drop off in sales of these cars as well as a drop off in the residual value.
Rumor is that Acura will be releasing a more fuel efficient diesel version of the MDX late next year, but my own personal suspicion is that it will be like the Toureg, only offered in top trim and will be $50K+... which will make it a very tough sell in a struggling US economy.
If gas prices continue their rise, I look to see the meteoric comeback of the
STATION WAGON (in AWD form). (Decent space, better mileage than most SUV's).
Price: $41,500 (invoice price + dest. charge : $40,901) plus tax. no accessories.
plus fees:
$527.90 (Title/Reg Fee + Luxury Tax + Tire Tax)
$249 (Doc Fee)
Compared to other posts in this forum, the fee seems to be high for me. Is NJ Luxury Tax applicable to MSRP $44,245? I googled a bit and they say that it's applied to a product priced higher than 45k. Does anyone know about this? Also, $41500 including destination charge seems a good deal?
(tech + power tailgate option is new and they ordered some and they will arrive to the dealer soon in this month.)
My BMW lease is up in July. I plan on e-mailing every Acura dealer in my state of Florida with an offer of $500 below invoice in June for the base MDX and see what happens. I plan on putting down half and financing the rest. I find Acura's offer of 36 month financing at 2.9% too good to pass up. Hopefully, they will continue this in June.
Using the Acura website, I made a list of 18 Florida Acura dealers. It would be nice to make a decent deal with one of the 3 Acura dealers in my area, but Tampa is a notoriously poor location to make a good car deal.
As mdxsfla was kind enough to inform me, he made a great deal with a dealership on the other side of the state. I have no problem with taking a short one-way $52 flight to save $500 or so.
If I want to do finance thru other banks than honda finance (if the bank provides the lower interest rate than 4.9% for 60 months), is it possible to buy an MDX with finance from the bank, with keeping the price quote I got from Acura? Again, when an Acura dealer offeres a quote, are they assuming that I'm getting finance thru Honda Finance?
For those of you who bought an MDX, did you guys get finance from Honda Finance? Honestly I haven't looked into other bank's loan, but 4.9% for 60 months is good compared to other banks?
4.9% is pretty good. I can't see many banks beating that.
As Tyler said though it would be pretty unusual for a bank to be able to beat 4.9% for 60 months or 2.9% for 36 months.
I was looking at one yesterday (tech pkg w/ liftgate, no ENT pkg) and they want $647/mo with $1425 paid at signing (includes 1st mo, security, tax, title, etc.) Salesman was telling me MSPR is $44910 and selling price is $41500 with 0.000197 money factor and residual value of $25,177.60.
I am a single woman and have never negotiated a lease deal before, so I always worry they are taking advantage of me!! Unfortunately, I'm not sure how everyone is getting all their numbers (Cap cost, cap cost reduction, etc.) - are dealers willing to give you these numbers if you ask them? Is there another way to acquire them? It's all a little overwhelming! Help!! :confuse:
They did not do the protection package scam (all weather mats and tire locks) which was like $500+ at other places.
They did hit me with a $500 acquisition fee for the lease which also includes gap insurance to cover any difference in value of car and value on lease in the event of an accident. I don't know if that is a real cost or if I got scammed. AT this point, it doesn't matter and at least I'm covered.
I'm certainly not the model bare bones buyer.
Invoice on Tech package is $39,688 + $715 destination charge... or around $40,400.
You would be paying $700 over invoice which if no other dealer charges are thrown in (paperwork charge, protection packages and other sources of dealer profit) is a good deal.
My dealer was similarly priced, they actually tried to get me to bite at 3% over invoice, plus accessories, plus $400 paperwork charge, etc.
I ended up offering them $500 over invoice out the door including all fees and then I left the dealership. You have to be willing to LEAVE to get the price you want, especially if you show up on a busy day like a Saturday. A week later they called me and I ended up paying $500 over invoice plus the advertising charge and that was it. I did have to take delivery of a car that had just arrived and didn't have all the extras installed.