Please confirm 2015 MDX lease terms for NC?

kms67

On 2015 MDX FWD ADV/Tech MSRP $55,900 Selling Price of $52,681
MF .00154 on 36/12K lease RV @ 58%.

Is this the correct MF for NC? Also, the RV seems low to me, would have expected north of 60%?

Thank you.

kyfdx

kms67 said:

On 2015 MDX FWD ADV/Tech MSRP $55,900 Selling Price of $52,681
MF .00154 on 36/12K lease RV @ 58%.

Is this the correct MF for NC? Also, the RV seems low to me, would have expected north of 60%?

Thank you.

.00154 MF and 59% residual. Advance models have the lowest residuals.

queens207tl

Could you also provide residual and MF for MDX AWD/Tech for NJ. This for for 15K/yr. Thx

kyfdx

queens207tl said:

Could you also provide residual and MF for MDX AWD/Tech for NJ. This for for 15K/yr. Thx

.00120 MF and 59% residual for 36 months.

queens207tl

Thanks!

queens207tl

@kyfdx, I had a question regarding a trade-in of a lease (dealer purchasing it from you) during the same time your leasing a new vehicle. Specifically, how it affects the amount of tax owed on the new vehicle being leased. I know usually you receive a credit towards tax for a new vehicle if you trade in a car owned/financed, not sure how that works when you trade in a lease that the dealership buys off of you. Would you have information on that? Specifically for the state of NJ.

kyfdx

queens207tl said:

@kyfdx, I had a question regarding a trade-in of a lease (dealer purchasing it from you) during the same time your leasing a new vehicle. Specifically, how it affects the amount of tax owed on the new vehicle being leased. I know usually you receive a credit towards tax for a new vehicle if you trade in a car owned/financed, not sure how that works when you trade in a lease that the dealership buys off of you. Would you have information on that? Specifically for the state of NJ.

I really can't answer your question about taxes in NJ.

Not specific to NJ, but generally, leased vehicles are owned by the bank, not by you. Ergo, no trade-in credit. There may be states where this isn't the case, but that is generally how it goes.

chilsin

I received two offers for 2015 Acura MDX AWD Base lease 10K/36 in NJ
1)sale price - 42973
residual - 63%
MF - 0.00120
$465/month includes taxes
down payment - $4000 includes dealer fees, MV fee and any apllicable taxes + 1st month payment. 
Dealer is also taking care of remaining payment from my prior lease of $495

2) sale price, residual, MF same as above
this vehicle was used by an executive and has 1400 miles.
$3000 down which includes first month payment + fees + applicable taxes.
$475/month includes taxes
Dealer is also taking care of remaining payment from my prior lease of $495

please let me know whether either of this deal is good.

Michaell

chilsin said:

I received two offers for 2015 Acura MDX AWD Base lease 10K/36 in NJ
1)sale price - 42973
residual - 63%
MF - 0.00120
$465/month includes taxes
down payment - $4000 includes dealer fees, MV fee and any apllicable taxes + 1st month payment. 
Dealer is also taking care of remaining payment from my prior lease of $495

2) sale price, residual, MF same as above
this vehicle was used by an executive and has 1400 miles.
$3000 down which includes first month payment + fees + applicable taxes.
$475/month includes taxes
Dealer is also taking care of remaining payment from my prior lease of $495

please let me know whether either of this deal is good.

Just to confirm .. the out of pocket monies due for these offers does not include any sort of cap cost reduction?

Could you get the dealer to break down the $3000 or $4000 due at delivery?

Also, what is the MSRP for the vehicles in question?

chilsin

MSRP is $45,675.00
1st month payment - $465
reg. Fee - $327.50
dic fee - $398
acq fee - 595
tire fee - 7.50
dlr prep - 95
Total - $1888
remaining is cap cost reduction for both options.

Thank you!

Michaell

chilsin said:

MSRP is $45,675.00
1st month payment - $465
reg. Fee - $327.50
dic fee - $398
acq fee - 595
tire fee - 7.50
dlr prep - 95
Total - $1888
remaining is cap cost reduction for both options.

Thank you!

We don't recommend making any sort of cap cost reduction ... if the car is stolen or totaled, you are out that money.

$1100 cap reduction equates to about $30-31/mo, $2100 cap reduction is about $58/mo.

chilsin

Thank you. If I can negotiate the cap cost reduction into monthly payments do you think these are good deals?

Michaell

chilsin said:

Thank you. If I can negotiate the cap cost reduction into monthly payments do you think these are good deals?

Let's take a step back. With the MSRP and selling price you've negotiated, the pre-tax payment is $480.48 with $0 cap cost reduction. Your $465/mo on the first offer is actually $523/mo if you back out the cap cost reduction.

NJ calculates the sales tax for the entire lease up front and you can either pay it at lease signing or have it added to the cap cost. If the sales tax rate is 7% (guess on my part), then the sales tax is about $994, or roughly $28/mo.

Add that to the $480.48 I calculate above and the after tax payment becomes $508/mo ... that is your goal. I think the dealer is manipulating the numbers to get a higher payment.

And, tell me more about the vehicle you are turning in. That is another opportunity for the dealer to obfuscate the numbers. Find out the payoff value and the current trade value; there may be equity in it that you aren't aware of.

chilsin

If i'm not mistaken $508/month does not include $1888 in various fees i mentioned, correct?
the vehicle I'm turning in is a leased 2012 Acura MDX with 29,200 miles. It was a 10K/36 lease and I have one payment left.
The trade in value is $24,889.00
Residual is 25,412.70
The other option I'm considering is to purchase the current leased vehicle, but I'm not sure if it is a worthy option.

Michaell

chilsin said:

If i'm not mistaken $508/month does not include $1888 in various fees i mentioned, correct?
the vehicle I'm turning in is a leased 2012 Acura MDX with 29,200 miles. It was a 10K/36 lease and I have one payment left.
The trade in value is $24,889.00
Residual is 25,412.70
The other option I'm considering is to purchase the current leased vehicle, but I'm not sure if it is a worthy option.

Correct -$508/mo is without the $1888 in fees. 

Who determined the trade value? Check the "real world trade in values" discussion here to double check. 

chilsin

I got this trade in value from Edmunds.
as per your advice I have posted a question on "real world trade in values" and waiting for a response.

The dealer came back with a revised offer
2015 Acura MDX AWD Base
sale price is $41,696
MSRP: 45,675
Residual: 63%
MF: 0.0012
$469/month
$0 cap cost reduction 
$2031 down ($595 bank fee + $304 MV fee + $1212 taxes).

please advice.

chilsin

The down payment is $2111, my total was incorrect but the breakdown was correct.

Michaell

chilsin said:

I got this trade in value from Edmunds.
as per your advice I have posted a question on "real world trade in values" and waiting for a response.

The dealer came back with a revised offer
2015 Acura MDX AWD Base
sale price is $41,696
MSRP: 45,675
Residual: 63%
MF: 0.0012
$469/month
$0 cap cost reduction 
$2031 down ($595 bank fee + $304 MV fee + $1212 taxes).

please advice.

With your revised numbers, I'm showing $443.48/mo before tax .. not sure how they are getting $469/mo if you are pre-paying the taxes up front.

Ask them for the net cap cost ... if this is different than the $41.696 selling price, ask them to explain the difference.

chilsin

I got the full numbers now
msrp: $45,685
sale price: 44613.52
cap cost red: 2031
net cap cost: 42582.52
mf: 0.00120
residual: 63%
monthly payment: $469
with $0 down payment $528

Please let me know what you think.

Michaell

chilsin said:

I got the full numbers now
msrp: $45,685
sale price: 44613.52
cap cost red: 2031
net cap cost: 42582.52
mf: 0.00120
residual: 63%
monthly payment: $469
with $0 down payment $528

Please let me know what you think.

My numbers work out the same as yours .. only way to reduce the payment is to negotiate a lower selling price.