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Don't be fooled by the "invoice" price.
Monthly Payment has two components:
1. Depreciation based on months used/mileage and Residual.
2. Interest due to the leasing company for use of the vehicle.
The amount of interest due per month is calculated using the Cost of the vehicle (what you paid) plus Residual Value X money factor.
The depreciation is determined based on what you paid for the vehicle less the residual value (which each manufacturer sets as a % of MSRP) divided by the number of months in the lease.
This why the NEGOTIATED PRICE is so critical in the leasing process. It affects both the depreciation cost and the interest cost.
One more thing- don't forget to add tax to the cost of the lease. Some states just tack on a % of the monthly payment while others tax the entire cost of the vehicle (same as a purchase).
Also, what does TTL mean? (Sorry, I'm new!)
Was thinking of getting a new 2010, but am concerned about the transmission, given all the speculation the delay was due to transmission problems. I've read thru the history of bad transmissions with the 1st gen MDX and Honda Pilots of those years. I've been trolling the forums, and I already saw one person who said they had to get their transmission replaced on a new 2010 three weeks after they bought it. Don't know if it's a fluke, or a sign of bad things to come.
That being said, I am considering looking at used 2007/2008/2009 MDXs, or maybe a new 2009 if there are any still available. Does anyone know if there are any major issues with the 2nd gen MDX with those years? I believe the transmission for those years was good/stable. Can anyone tell me if there any major differences between those model years in terms of specs/features/extras? I don't think there was any major changes in between years. I'd be getting a Tech package.
Any help on this would be appreciated.
The base and Advanced see the most change. Base gets standard power liftgate, standard rear-view camera, better leather, plus a USB outlet in the center console vs the current 3.5 mm jack...maybe a couple other features I'm forgetting off the top of my head.
The advanced gets the new suspension and safety features, but the price gets IMO too much for this vehicle (into the low/mid 50s).
Exterior styling changes are subjective; I personally think the 'beak', new rims, and elimination of plastic panels in the front and rear of the car make it look better. I'm not crazy about the chrome trim around the windows.
You have reason to be concerned about the transmission. Honda/Acura has had their share of problems with them over the years. Ask any Odyssey, 99-03 TL, or 1st generation MDX owner. But - given the choice, I'd get the 6 spd over the 07-09's 5 spd transmission.
You can always insure yourself against engine failure - I find getting the mechanical breakdown coverage through Geico to be the best option for me. If the transmission fails before 100k, I'm covered. I think it works out to cost the same as buying a 3rd party or acura extended warranty up front over the course of a few years.
Keeping the subject on topic, you will probably not find new 09s on dealer lots at this point, and given the price MDXs fetch on resale (which make absolutely no sense...I'd like to meet the person that would pay 35k for a used 09 base when they can get a new 10 for the same price) I would skip going used.
As a salesperson for Acura I will tell you that both of your quoted statements are actually true and are happening at the store level. The MDX's have been under produced compared to last year at this time. I have had only 1 Tech model in stock for about a week and no base models. We are thus having to "paper trip" sell the vehicles before they get here. Each salesperson also has a list of guests that are ready to buy as the vehicle lands. The last time this happened was back when the 07 MDX came out. Vehicles were selling for MSRP. We are currently far from that with equal or greater demand.
We are also having to do a lot more trading of vehicles to neighboring dealers.
Last week I sold a vehicle from another dealer's inventory with the agreement to return a color they need when it got here. Between yesterday and today we did receive 5 more tech models to help fill inventory.
A salesperson is always motivated to sell. That's the only way we get paid. As much as we like a good test drive, the only way we feed our families is by selling!
Having a low inventory creates a supply and demand miss-match. That is why the dealerships may vary in pricing. A few dealers are sending super low prices on vehicles they don't have in stock. You may wait quite a while and that is alright for you, as you are getting a low price. This concept pulls you off the market. The other dealerships that have more balanced pricing are able to discount when needed and have the inventory to give you the color and package with little to no wait. The dealership's strugle can be maintaining a reasonable gross profit and having vehicles to meet the strong demand.
It is always good to find a fair compromise. Some dealerships may give you added bonuses like pre paid maintenance. This can save you over $1000 in future required A and B maintenance. Look at the whole picture and see if it makes sense to you.
I think a lot of buyers don't look at the full picture and what the dealer has to offer for the price.
1) 2007 NAV/RES w/ 35k miles = $30,500
2) 2007 SPORT/NAV/RES w/ 65k miles = $27,250
3) 2009 NAV/RES w/26k miles = $34,500
I am also considering passing on all three of these and hoping that a 2010 base model could be purchased for $36-$37k sometime this year (with incentives).
Any feedback would really be appreciated. I'm having a hard time deciding.
Thanks in advance.
I've received the following quote for 2010 MDX base model. Please let me know if this is a good quote or should I shop around for a better one.
$39,900 + TTL
What do you think is a good quote for MDX base in Chicago area.
Thanks
That being said, having worked for Acura for just over 4 years has given me more than enough confidence to purchase Acura vehicles. Current cost of ownership winner on this site for March! It is an exciting vehicle with a huge amount of functional luxury technology.
36 months/ 12, 000 miles a year
no money down and all taxes rolled into the payment (we're in New York)
$700 a month
$1062.50 out the door - this included the first months payment/registration/doc/ins/nytiretax
This was all based on a negotiated price of $45,435.00 for the car. This included destination and roof rails.
I'm sure it's not the best deal - but we're happy. And the car is gorgeous! The navigation and the sound system are top notch!
Thanks again to everyone that posts on these boards - they were a huge help to us!
proctor acura in FL said he can't even come close to invoice...maybe 43700 at best. one from dallas said 45300!!!!! waiting for the other.
invoice is what..42700?
should I wait till the end of the month or something? I am in no hurry to get one..just waiting for a good deal.
I purchased mine back on the last weekend of February and wanted black on black and had to change my color to get the tech then. There weren't many of the black on black around me at the time. The dealer said if I took one on the lot they would take my offer. It's a great SUV from a guy coming from a Chevy Tahoe.
champion acura of gulf freeway, sterling mccall acura, john eagle acura.
I am more prone to make emotional decisions / feel sorry for them in person and end up taking what they offer. that's why i been avoiding the dealerships.
42900 would be a good price. sure it's not a steal but i won't be overpaying or getting ripped off.
when will any dealer incentives show up?
Might be able to get a better deal if you stalked the dealer a bit longer. I walked in and bought the 2010 while waiting for my older 2006 MDX to be serviced (Washington DC area).
Good luck familycar5...the 2010 is an awesome SUV!!!
Did you by chance do a trade-in too? And the honda/acura dealers have a 2% hold-back usually (est. $800 on $40k price).
You mentioned "stalking the dealer" a bit longer. What would this entail? I'm clueless!
Thank you!
Questions I have...
- was quoted 0.00151 money factor--is that a good number currently? (12k miles)
- is the Nav package worth it? When I did the test drive, I wasn't really impressed with how the GPS/look up locations feature works. I have a Garmin and that seems easier. BUT...I'm told iphone integration ONLY works with Nav package. Is there anyone out there that debated on the tech package, bought it, and has 2nd thoughts?
thanks!
Thanks to all who shared their experiences and prices. It helped a lot.
Is it harder to get a good deal on an MDX if there's only one Acura dealer in the area? We have one dealership in the area close to where we live and then the next closest dealer is an hour away. I don't mind driving the hour, but any other Acura dealers are several hours away and it just isn't worth it to me to drive all the way out to locations so much farther away. Especially if the savings isn't significant.
So, basically I'll only be able to get a quote from two dealers. I wondered if these dealers know they have a monopoly and thus not budge on pricing.
Any thoughts? Suggestions? Thanks!
Also, when is the best time to buy? I know they have 1.9% financing and I also heard it's best to buy at the end of the month? True?
Is there anyone in and around Chicago area who recently purchased an MDX 2010 Base model? What price did you pay and where did you buy?
I'm looking for the Base model and the current quote I've got is around $40K +TTL.
Thanks
From my past experiences you will get a better deal (sale price below or just above dealer's invoice).
Itran04- Thanks for the tip and thanks again for all of your response to my posts.
But they don't have the color or package I want, yet. Dealer who does, offered 51,900 and laughed at my offer of $48,600. I make all my offers on email. The color and package I want, are hard to come by in Southern Cal. Does Acura not want to make more cars and more money? Dealers are saying there are only 3 in So. Cal. I just don't get it. Would appreciate any advice.
Is that what others are hearing too? Thank you.
True Car only increased by $300 for my region, and they give a breakdown, it's
listed as Regional Ad Fees. I do see more Acura commercials then I used too.
If you build one out on Edmunds, they do include the freight charge.
Don't compromise on the color that you want. They can be ordered without any hassel from any dealer it seamed when I was looking in New York/Jersey and they were all about the same price. Walk in, be repectful and they will give you the repect back. Or you can play the e-mail game and is very effective and saves much time. You can bypass the ent/pkg and get headrest dvd players and install them yourself. You won't get the seat heaters but they'll live. The 120 Volt outlet is a joke as well............................
I applaud you for your perspective on dealerships. I know I am going to be totally respectful when I go to dealerships- just like you said that is how I will get respect back. After all they are being so nice to take my business - how nice of them. All of them in NY/NJ have the same price (remember Honda/Acura convinced them to be nice to each other and arrive at a consensus price - it is called MSRP).
Get real man (if you are not a dealer dude posing as a customer)! Nobody on this board says delares are all evil. There are good ones, great ones and bad ones. Same goes for the salespersons. But this is the US of A. We sell what we want; we buy what we want and where we want and what price we want. And every dealership earns the business. So cut out the USSR story and enjoy your car.
that's the lowest quote i been able to get from any dealer in texas. 2 in dallas, 1 in austin, 4 in houston.
i went back and forth with these dealers and that was about the best I could do. I guess it's 200 over the invoice. what do you guys think?
as far as the car goes.....!!!!! << good.