2015 Acura MDX Lease Questions

kyfdx

03qx said:

Going to do a 1 Pay Lease because the money factor is almost 0. Do you know if Acura waives the Acq Fee on these leases? Thanks !!

No... the acquisition fee has to be paid.

asadh

Michaell said:

asadh said:

Dealer says VA tax is on the entire cap cost not the depreciated amount. Does $550 add up if tax on entire cap cost?

The $2200 difference between tax on the sale price and tax on the depreciation works out to about $61/mo - so, $535/mo.

Still not sure about the extra $15/mo ($540) - is there another fee not listed?

I pulled the trigger today, $530 a month. Dealer could not explain the extra $15/mo clearly, so I told them to make it $530 and I will take it today.

mattmillerfly

I was offered following deal in MD this afternoon.

2015 AWD w/Tech 36mo/12k + Mats ,wheel lock
MSRP: $49,960
Net Cap Cost: $45,500 ($44,580 for car + $Destination fee $920)
Dealer processing+DMV: $354
MF: .00069
RV: 60%
Sales Tax: 6%

Dealer is telling me that monthly payment is $577 incl tax

Thoughts?

kyfdx

mattmillerfly said:

I was offered following deal in MD this afternoon.

2015 AWD w/Tech 36mo/12k + Mats ,wheel lock
MSRP: $49,960
Net Cap Cost: $45,500 ($44,580 for car + $Destination fee $920)
Dealer processing+DMV: $354
MF: .00069
RV: 60%
Sales Tax: 6%

Dealer is telling me that monthly payment is $577 incl tax

Thoughts?

Maryland charges sales tax on the full selling price, right?

I get $483/mo. + tax.. If I add $2730 to the CAP for tax and $354 DMV, I get $571/mo.

mantooth412

I was offered this today in PA.

2015 MDX w/ Tech 36 months 12K miles

MSRP 49,960
Selling price 46,363
Sales tax 3,250.41 (10%)
Fees 299.55
Net sales price 49,912.96
Cash Down 881.83 (1st payment, security deposit, tax on payment, license, title…)
Residual 60%
MF .00069
Monthly Payment 577.28

Any thoughts or suggestions would be greatly appreciated.

kyfdx

mantooth412 said:

I was offered this today in PA.

2015 MDX w/ Tech 36 months 12K miles

MSRP 49,960
Selling price 46,363
Sales tax 3,250.41 (10%)
Fees 299.55
Net sales price 49,912.96
Cash Down 881.83 (1st payment, security deposit, tax on payment, license, title…)
Residual 60%
MF .00069
Monthly Payment 577.28

Any thoughts or suggestions would be greatly appreciated.

The tax quoted isn't part of the lease calculation.. The number given is actually 7% of the purchase price, if you were buying the vehicle.

The 10% lease tax is applied to the monthly payment, not to the selling price (you'll notice that the tax amount doesn't add up to 10% of anything).

You have the correct residual and money factor... but, your net sales price is only for a purchase. To check the calculations, we would need the Net CAP cost for the lease.

larryb23

When negotiating the price of the car, should the destination fee be included? I received one price from a dealer of 44,825 but when I questioned him, he said the destination fee had to be added on to that. Is that price the same across the country? I'm in NY/CT area.

Michaell

larryb23 said:

When negotiating the price of the car, should the destination fee be included? I received one price from a dealer of 44,825 but when I questioned him, he said the destination fee had to be added on to that. Is that price the same across the country? I'm in NY/CT area.

Dealers love to separate the numbers to make things more confusing. Yes, the negotiated price should include destination charges.

The MSRP and destination are the same everywhere in the US.

larryb23

Thanks! Just to confirm all my figures on 2015 MDX - AWD w/ Tech
MSRP - 49,960
Destination Fee - 895
Bank fee - 595
MF - .00069
RV - 60% for 12k/36/mo

If I get car for 46k (including destination) and pay bank fee & DMV fees up front my payment would be 529.12 including 6.35% tax. Is this all accurate??

Michaell

larryb23 said:

Thanks! Just to confirm all my figures on 2015 MDX - AWD w/ Tech
MSRP - 49,960
Destination Fee - 895
Bank fee - 595
MF - .00069
RV - 60% for 12k/36/mo

If I get car for 46k (including destination) and pay bank fee & DMV fees up front my payment would be 529.12 including 6.35% tax. Is this all accurate??

Is the MSRP before destination? Using the adjusted number of $50,855 and a cap cost of $46,000, I get a payment of $513.66 with tax.

larryb23

I didn't know that you were supposed to include the destination in the MSRP....that makes the lease deal even better. I like the 513.66 better than the 529.12!

Michaell

larryb23 said:

I didn't know that you were supposed to include the destination in the MSRP....that makes the lease deal even better. I like the 513.66 better than the 529.12!

Yes, the MSRP used for lease calculations is the bottom line of the sticker.

la782

Hi, I am in Georgia and shopping for a 2015 MDX w/ Tech 36 months 12K miles

With $8000 for my trade in the dealer quoted me

Tech Package
36mo lease 0cash down = $522
36mo lease $2500 down =$449

MSRP $47,960
Sales tax 7%
Residual $28,641
MF .00069

What other information do I need to determine if this is a good deal?

la782

Also the cap cost reduction is set at 20%

Michaell

la782 said:

Hi, I am in Georgia and shopping for a 2015 MDX w/ Tech 36 months 12K miles

With $8000 for my trade in the dealer quoted me

Tech Package
36mo lease 0cash down = $522
36mo lease $2500 down =$449

MSRP $47,960
Sales tax 7%
Residual $28,641
MF .00069

What other information do I need to determine if this is a good deal?

What is the selling price / net cap cost?

We don't recommend using trade equity or cash down to buy down the payment in a lease - if the car is stolen or totaled, you would be out that money.

That said, $8000 over 36 months is $222, so the dealer is quoting you almost $750/mo. Too much. Read the last page or two of this discussion to see what others are paying and what their lease payments are.

Working against you is the fact that GA charges you sales tax (ad valorem) against the entire sale price, which will increase your payment a bit.

larryb23

la782 said:

Hi, I am in Georgia and shopping for a 2015 MDX w/ Tech 36 months 12K miles

With $8000 for my trade in the dealer quoted me

Tech Package
36mo lease 0cash down = $522
36mo lease $2500 down =$449

MSRP $47,960
Sales tax 7%
Residual $28,641
MF .00069

What other information do I need to determine if this is a good deal?

I'm not a moderator on here but I am looking at the same exact car and lowest price I've received so far is 45,720 which brings me to approximately 505/mo (12k for 36 mos) and that's WITHOUT a trade in. I would suggest negotiating the purchase price first and deal with the sale of your car separately.

mantooth412

Again 2015 MDX w/ Tech 12K 36 month in PA

MSRP 49,960

Sale Price 46,363

CAP cost 46,958 (sale price + 595 acquisition fee)

Residual .60 or 29,976

MF .00069

Down Payment 881.83 (first payment and fees)

Monthly Payment with tax of (10%) 577.28

seem accurate??

larryb23

That's what I come up with too.

Michaell

mantooth412 said:

Again 2015 MDX w/ Tech 12K 36 month in PA

MSRP 49,960

Sale Price 46,363

CAP cost 46,958 (sale price + 595 acquisition fee)

Residual .60 or 29,976

MF .00069

Down Payment 881.83 (first payment and fees)

Monthly Payment with tax of (10%) 577.28

seem accurate??

It does

metahi

Could I get the MF and RV for 2015 MDX SH-AWD w/Technology Package 10K/36mo?

Michaell

metahi said:

Could I get the MF and RV for 2015 MDX SH-AWD w/Technology Package 10K/36mo?

.00069 and 61%

alexfrnch

WA Acura PRomotion lease MDX 2015:

  Advanced package + entert.package SH AWD at MSRP 57000
RV 58%.  MF .00069
599/mo +tax (WA state)
$3700 DOWN
10K miles/yr 
36mo

They refused to negotiate, unless, I am serious.

I am serious, though.

I ask if thw MSRp can be dropped to Invoice amount. The answer was:NO

I left.

In your experience, how much down could I negotiate this car?

Thank you.

larryb23

I just finished negotiating (NY area) for the 2015 AWD w/ Tech package. Although not the same car as you, here is my deal. Invoice was $45,463, MSRP is 49,960. I got it for 46k. In my opinion it was a good deal, probably could have gotten them down a bit more but I usually feel pretty good about $500 over invoice. I learned a long time ago that you negotiate up from invoice, not down from MSRP.

Good luck!

larryb23

Correction - Invoice is 46,283. So I guess you can get a deal below invoice! I feel even better now....

alexfrnch

how do I find out the invoice price before visiting dealership

larryb23

You can probably find it on this site, but I find it easier to locate on KBB.com. I see your car listed as MSRP of 57,900 with an invoice of 53,550. IMO (and I'm not a moderator) you should not pay more than 54k for this car. I've been driving Acura's since 1991 and simply use 3-5 dealers against each other until you finally get a price that the others won't match. Another thing I never do is negotiate a lease price...always negotiate the purchase price. Once you have the price you want, you can tailor the lease any way you prefer. I hope this helps.

alexfrnch

Thank you for your help.

larryb23

One more piece of info that I've learned over the years - I prefer to negotiate via email or phone. They always want you to come in and then they try to bully you. I tell them all I don't have time to come in and negotiate, I want to agree on a price and when I come in, it's to sign the papers and pick up the car. That system has saved me a lot of aggravation over the years.

Michaell

alexfrnch said:

WA Acura PRomotion lease MDX 2015:

  Advanced package + entert.package SH AWD at MSRP 57000
RV 58%.  MF .00069
599/mo +tax (WA state)
$3700 DOWN
10K miles/yr 
36mo

They refused to negotiate, unless, I am serious.

I am serious, though.

I ask if thw MSRp can be dropped to Invoice amount. The answer was:NO

I left.

In your experience, how much down could I negotiate this car?

Thank you.

I agree with the .00069 MF, but I'm showing the 36/10 residual for the MDX AWD Adv + Ent as 59%.

What is the breakdown of the $3700?

You might want to consider reaching out to another Acura dealer - competition can only benefit you.

larryb23

I settled on a price (46k) for the MDX AWD w/ tech and had them draw up the lease agreement. I noticed a fee that I've never seen before. It's $350 "Turn In" fee. Dealer says that this is waived if I lease another Acura or Honda at the end of this lease. Is this required by Acura or something the dealer can take out of the deal?

Michaell

larryb23 said:

I settled on a price (46k) for the MDX AWD w/ tech and had them draw up the lease agreement. I noticed a fee that I've never seen before. It's $350 "Turn In" fee. Dealer says that this is waived if I lease another Acura or Honda at the end of this lease. Is this required by Acura or something the dealer can take out of the deal?

The disposition fee is mandated by the bank and cannot be waived.

hecara

Will someone provide me with the MF and RV for MDX FWD Tech? 36/10K and 48/10K.
I have searched this thread and I cannot piece it together.
Thanks!

kyfdx

hecara said:

Will someone provide me with the MF and RV for MDX FWD Tech? 36/10K and 48/10K.
I have searched this thread and I cannot piece it together.
Thanks!

.00069 MF and 61% residual for 36/10.

48/10 residual is 53%, but I'm not sure you can use that low money factor for terms that long.

hecara

kyfdx said:

hecara said:

Will someone provide me with the MF and RV for MDX FWD Tech? 36/10K and 48/10K.
I have searched this thread and I cannot piece it together.
Thanks!

.00069 MF and 61% residual for 36/10.

48/10 residual is 53%, but I'm not sure you can use that low money factor for terms that long.

As always, thank you. I am trying figure out the best way to finance. I was thinking of leasing for 36 then paying out the rest or straight finance. Whichever gives me the lower monthly payment.

Thanks!

alexfrnch

In negotiating with dealers who present higher MF than manufacturers, I found rhat they are absolutely refusing to drop MF to promotional levels.

Michaell

alexfrnch said:

In negotiating with dealers who present higher MF than manufacturers, I found rhat they are absolutely refusing to drop MF to promotional levels.

That is their choice ... just like you have the choice to work with a different Acura dealer.

hecara

I went to Acura in Houston, TX today. I signed on a car but won't get it until Saturday or Monday. I am having an issue with the monthly payment. I want to make sure I am not getting screwed. Here's breakdown:

2013 MDX base trade: $30,000
Negative equity: $2417.54
2015 MDX sale price: $44,699.00
I was told they were using MF .00069 and RV 61%

I asked for more on my trade but they said my with my tax credit I was only rolling over $600 into the new car. I am still confused about that.

At any rate my payment is $699.94, 36/10. This seems so high looking at other quotes on this forum. Although, the sale price is supposed to be $44,699 on my contract is says GROSS CAPITALIZED COST $46,928.
He said he GAVE me some fabric protector and extended warranty.

Is this a correct payment? I have a feeling it's not. If so I am not taking the car. They need to do better. How am I paying a $700 note on a lease?


HELP PLEASE

hecara

Also, there was $225 for key replacement IF I lose or damage my key. Do I have to have that? Two keys are enough for me.

go_bruins

Does anyone know what the current residuals and money factors are for a 2015 MDX SH-AWD (MSRP 45.6K)? I have two dealerships in the boston area trying to get me in. First dealership is quoting a money factor of .00068 on the super preferred tier with 5100 down getting to a lease payment of 388/month. Second dealership ran a separate projection with a money factor of .001240 for the preferred tier (FICO of 660-709). Said that law requires them to only provide on preferred unless you run credit check and negotiate. no discounts on MSRP from this dealer and uses a 59% residual plus 3% since mileage is only 10K/year.

kyfdx

hecara said:

I went to Acura in Houston, TX today. I signed on a car but won't get it until Saturday or Monday. I am having an issue with the monthly payment. I want to make sure I am not getting screwed. Here's breakdown:

2013 MDX base trade: $30,000
Negative equity: $2417.54
2015 MDX sale price: $44,699.00
I was told they were using MF .00069 and RV 61%

I asked for more on my trade but they said my with my tax credit I was only rolling over $600 into the new car. I am still confused about that.

At any rate my payment is $699.94, 36/10. This seems so high looking at other quotes on this forum. Although, the sale price is supposed to be $44,699 on my contract is says GROSS CAPITALIZED COST $46,928.
He said he GAVE me some fabric protector and extended warranty.

Is this a correct payment? I have a feeling it's not. If so I am not taking the car. They need to do better. How am I paying a $700 note on a lease?


HELP PLEASE

Looks like your Gross CAP cost includes the negative equity from your current vehicle.. Looks like a bad deal.. and, maybe, a lot of hidden charges in there.. I'd want every number spelled out.

kyfdx

hecara said:

Also, there was $225 for key replacement IF I lose or damage my key. Do I have to have that? Two keys are enough for me.

You have to pay now to replace a key that you haven't lost yet? LOL

kyfdx

go_bruins said:

Does anyone know what the current residuals and money factors are for a 2015 MDX SH-AWD (MSRP 45.6K)? I have two dealerships in the boston area trying to get me in. First dealership is quoting a money factor of .00068 on the super preferred tier with 5100 down getting to a lease payment of 388/month. Second dealership ran a separate projection with a money factor of .001240 for the preferred tier (FICO of 660-709). Said that law requires them to only provide on preferred unless you run credit check and negotiate. no discounts on MSRP from this dealer and uses a 59% residual plus 3% since mileage is only 10K/year.

.00069 is the base MF for top tier. 62% is the correct residual for 36/10.

No discounts? Shop somewhere else.

hecara

kyfdx said:

I went to Acura in Houston, TX today. I signed on a car but won't get it until Saturday or Monday. I am having an issue with the monthly payment. I want to make sure I am not getting screwed. Here's breakdown: 2013 MDX base trade: $30,000 Negative equity: $2417.54 2015 MDX sale price: $44,699.00 I was told they were using MF .00069 and RV 61% I asked for more on my trade but they said my with my tax credit I was only rolling over $600 into the new car. I am still confused about that. At any rate my payment is $699.94, 36/10. This seems so high looking at other quotes on this forum. Although, the sale price is supposed to be $44,699 on my contract is says GROSS CAPITALIZED COST $46,928. He said he GAVE me some fabric protector and extended warranty. Is this a correct payment? I have a feeling it's not. If so I am not taking the car. They need to do better. How am I paying a $700 note on a lease? HELP PLEASE

Looks like your Gross CAP cost includes the negative equity from your current vehicle.. Looks like a bad deal.. and, maybe, a lot of hidden charges in there.. I'd want every number spelled out.

I just got off the phone with the finance manager and he said he could get that payment down to $658. When I put the numbers in the lease calculator adding the $2000 negative equity and it came up with $588. He said there was no way he could to that payment. I just need to know what my payment should look like. Is $658 still too high?

hecara

kyfdx said:

Also, there was $225 for key replacement IF I lose or damage my key. Do I have to have that? Two keys are enough for me.

You have to pay now to replace a key that you haven't lost yet? LOL

Exactly

hecara

hecara said:

kyfdx said:

I went to Acura in Houston, TX today. I signed on a car but won't get it until Saturday or Monday. I am having an issue with the monthly payment. I want to make sure I am not getting screwed. Here's breakdown: 2013 MDX base trade: $30,000 Negative equity: $2417.54 2015 MDX sale price: $44,699.00 I was told they were using MF .00069 and RV 61% I asked for more on my trade but they said my with my tax credit I was only rolling over $600 into the new car. I am still confused about that. At any rate my payment is $699.94, 36/10. This seems so high looking at other quotes on this forum. Although, the sale price is supposed to be $44,699 on my contract is says GROSS CAPITALIZED COST $46,928. He said he GAVE me some fabric protector and extended warranty. Is this a correct payment? I have a feeling it's not. If so I am not taking the car. They need to do better. How am I paying a $700 note on a lease? HELP PLEASE

Looks like your Gross CAP cost includes the negative equity from your current vehicle.. Looks like a bad deal.. and, maybe, a lot of hidden charges in there.. I'd want every number spelled out.

I just got off the phone with the finance manager and he said he could get that payment down to $658. When I put the numbers in the lease calculator adding the $2000 negative equity and it came up with $588. He said there was no way he could to that payment. I just need to know what my payment should look like. Is $658 still too high?

Now they are down to $627. Smh

Correction now $600.  Should I take it? I am not going back until Monday.

Michaell

hecara said:

hecara said:

kyfdx said:

I went to Acura in Houston, TX today. I signed on a car but won't get it until Saturday or Monday. I am having an issue with the monthly payment. I want to make sure I am not getting screwed. Here's breakdown:

2013 MDX base trade: $30,000
Negative equity: $2417.54
2015 MDX sale price: $44,699.00
I was told they were using MF .00069 and RV 61%

I asked for more on my trade but they said my with my tax credit I was only rolling over $600 into the new car. I am still confused about that.

At any rate my payment is $699.94, 36/10. This seems so high looking at other quotes on this forum. Although, the sale price is supposed to be $44,699 on my contract is says GROSS CAPITALIZED COST $46,928.
He said he GAVE me some fabric protector and extended warranty.

Is this a correct payment? I have a feeling it's not. If so I am not taking the car. They need to do better. How am I paying a $700 note on a lease?


HELP PLEASE

Looks like your Gross CAP cost includes the negative equity from your current vehicle.. Looks like a bad deal.. and, maybe, a lot of hidden charges in there.. I'd want every number spelled out.

I just got off the phone with the finance manager and he said he could get that payment down to $658. When I put the numbers in the lease calculator adding the $2000 negative equity and it came up with $588. He said there was no way he could to that payment. I just need to know what my payment should look like. Is $658 still too high?

Now they are down to $627. Smh

Correction now $600.  Should I take it? I am not going back until Monday.


I wouldn't negotiate the payment .. negotiate the selling price and ensure the dealer isn't marking up the MF on you.

The $2000 negative equity translates to about $55/mo extra on the payment. Are you leasing your current car? If so, why not wait for the lease to be up then the negative equity won't exist.

hecara

I have two more years left on the lease. I leased to decide if it was something I wanted to keep. Since it is, I want to go ahead and get the color and trim I want vs continuing to pay for something I wasn't going to keep. My goal is to buy the car in the end. Financing had my payment in the $700's.

Supposedly, the MF and RV were where they needed to be but I know they were adding stuff like an extended warranty and fabric protector. He made it seem like they were throwing it in but I knew that wasn't the case. I will get a line by line breakdown. He told me $588 payment I got from the lease calculator was impossible. I just need to know what I am supposed to be paying ballpark. Financing is so much easier because the numbers are black and white, however I need to lease for the lower payment.

Michaell

hecara said:

I have two more years left on the lease. I leased to decide if it was something I wanted to keep. Since it is, I want to go ahead and get the color and trim I want vs continuing to pay for something I wasn't going to keep. My goal is to buy the car in the end. Financing had my payment in the $700's.

Supposedly, the MF and RV were where they needed to be but I know they were adding stuff like an extended warranty and fabric protector. He made it seem like they were throwing it in but I knew that wasn't the case. I will get a line by line breakdown. He told me $588 payment I got from the lease calculator was impossible. I just need to know what I am supposed to be paying ballpark. Financing is so much easier because the numbers are black and white, however I need to lease for the lower payment.

Calculating a lease payment isn't any more complicated that calculating a purchase payment .. the dealers thrive on confusing customers.

There are four main numbers in a lease - MSRP, purchase price (net cap cost), MF and residual. Two are fixed - MSRP and residual. Purchase price is for you to negotiate, and the MF can be inflated by the dealer for extra profit.

You are taking the right approach by having them break down every line and every charge in the contract.

Getting out of a lease early, as you are seeing, can be expensive.

hecara

GREAT POINTS Michaell! Thank you! I did not realize the net cap cost and the purchase price were the same thing. I see GROSS CAPITALIZED COST at 52423.95. I don't see the net cap cost. I will make sure they spell out what MF and RV they are using. It just pisses me off that my payment is now $100 less. That makes me very paranoid. I am so glad I did not take delivery. Some family friend.

I will ask for the four numbers (that you mentioned) they are using. I don't want anything else added.

Michaell

hecara said:

GREAT POINTS Michaell! Thank you! I did not realize the net cap cost and the purchase price were the same thing. I see GROSS CAPITALIZED COST at 52423.95. I don't see the net cap cost. I will make sure they spell out what MF and RV they are using. It just pisses me off that my payment is now $100 less. That makes me very paranoid. I am so glad I did not take delivery. Some family friend. I will ask for the four numbers (that you mentioned) they are using. I don't want anything else added.

The gross capitalized cost is the same thing as the MSRP