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2013 and earlier-Acura MDX Lease Questions

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    blackexv6blackexv6 Member Posts: 503
    I looked at leasing an '06 MDX Touring with NAV & RES about 3 weeks ago and the Acura dealer said it is not worth it.

    He gave me a price on an '07 and it was within a few dollars.

    The '06 is a better deal to buy.
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    kilt98kilt98 Member Posts: 3
    CarMan-

    I am interested in the MDX and would like to know what lease payment to expect for a 07 with the Tech package and an MSRP of $43,495 (I would hope to negiotate this lower but want a starting point lease figure). I would like the quote for 12K per year and 36 months. I live in the Seattle area where sales tax is approximately 9%. Can you please indicate what money factors and residuals are currently being offered.

    Thanks!
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    amcdadamcdad Member Posts: 61
    Does anyone have the current residual/money factor rates for a 2007 MDX with Tech package? Looking at 15K a year (prefer 36 month, but not sure where best deal is- 27,36,39, 42, etc.). Also, any current dealer incentives?
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello long_isl_crv. Acura is not currently providing any lease support on the 2006 MDX. As a result, if you were to lease one through Honda Finance, you would have to use to use its standard lease program. This truck's lease program varies by term and mileage allowance. You never mentioned these variables, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2006 Acura MDX with 15,000 miles per year .00270 and 48%, respectively.

    Acura is currently providing $3,000 dealer cash on this truck. This incentive is provided to dealers to use as they please, but most dealers will be willing to share all of it to help unload any of their remaining 2006 MDXs this late in the model year.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kilt98. This truck's lease payment will vary depending upon what sort of selling price you are able to negotiate. If you let me know what this number is, I would be happy to calculate a sample lease payment for you. You should be able to get an idea of how much you will have to pay for this truck by visiting the following discussion: "Acura MDX: Prices Paid & Buying Experience". Let me know and I'll crunch some numbers for you.

    For now I can give you an idea of what this car's lease program is like. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura MDX with the Tech Pkg. and 12,000 miles per year are .00270 and 62%, respectively.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, amcdad. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura MDX with the Tech Package and with 15,000 miles per year are .00270 and 60%, respectively.

    Car_man
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    kilt98kilt98 Member Posts: 3
    Car_man - can you calculate the lease payments based on a negotiated selling price of $42,250. Thanks.
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    clarence10clarence10 Member Posts: 57
    CarMan, can you tell me if this is a good deal?

    I am looking at an 07 MDX (Base Model) on a 42 month lease w 12k miles per year and $1995 CapCostReduction. The price is $449/month. Security payment, destination fee, tax all due at signing.

    Is this a good deal?

    What could I expect to get off on this deal?"

    anything I should know about extra fees?

    Thx, Dave
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    bestdeal4bestdeal4 Member Posts: 8
    Here us my deal - 07 MDX base with about $1000 dealer options. $1000 out of pocket 36 month lease with 12,000 miles per for $584 per month. It was at about $800 over invoice.

    The MDX has Bridgestone Dueler not michelin tires?

    The sales rep said they come in with different tires.
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    tanner2tanner2 Member Posts: 1
    I live in NJ and would like to ask what I should pay to lease the model above. It has a sticker of $48,350.00. With $2500.00 down / 42 month / 10K miles per year I'm at $750.00 with all taxes. I even got the full roof rack and bodyside molding thrown in after I got this far. With $6000.00 down I can bring the monthly down to $550.00. It's through my company and I can afford the higher cap reduction now so I want to go that way. IS THIS A FAIR PRICE? Thanks, Mike.
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    jhabrejhabre Member Posts: 17
    Hi Car_man,

    I was quoted in PA $37,395 for an 07 base mdx. I qualify for Honda Finance's preferred credit tier and would like to lease it for 42 mos (which ever is the better deal), 12,000 mi/yr. What should I expect for my monthly payment?

    Thanks,
    Jamie
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    jhabrejhabre Member Posts: 17
    Hi Car_man,
    Can you please review a quote I received on leasing a 2007 Base MDX for Price $37,450... I am going to the dealership tomorrow and this is what he quoted me:
    42 mos, 10K mi/yr
    $465/mo tax included
    $3000 due at signing:
    $1445 is your cap reduction
    1st payment ($465)
    License & title ($133.50)
    Bank Aquistion Fee ($595.00)
    Pre Pay Tax ($162.58) - Not sure what this is yet

    Do you know what the residual value and 2007 MDX Base Lease is for this lease?

    Any advice would be greatly appreciated.
    PS: Do you think there are better leases on the 2007 Infiniti FX35?

    Thanks,
    Jamie
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    drtraveldrtravel Member Posts: 395
    They are advertising a $499 a month special. 42 months/10K miles per year. The residual is 61% with a money factor of 0.00260 (6.24%). Their lease deal assumes you pay a $1,849 capital cost reduction and the truck is priced at full MSRP - you can do better.

    Anyone seen the February lease numbers for this truck?
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    drtraveldrtravel Member Posts: 395
    They are discounting your vehicle only $1,770. In So Cal $2,000 discounts are common for base models. I wouldn't recommend putting any cap reduction. The residual is 61%, money factor is 0.00260 for this lease.

    Good luck
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    navboynavboy Member Posts: 32
    Does anyone have the lease rates (money factor and depreciation) for the Acura MDX SPORT package, and for the TECH package?

    I drive 15,000 miles per month, and am looking for a 36 or 42 month lease. Thanks!
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    navboynavboy Member Posts: 32
    The current money factor on an Audi Q7 premium model is .00038 (or .9%)!! The MDX lease rate for January was over 5 times that of the Q7. It may be less expensive at this point to lease a 52,000 dollar Q7, than it is to lease a $45,000 MDX. I hope that the current lease rates for the MDX are better than January's, and more in line with the Q7.

    The Q7 premium with tech package, if less costly on a lease, seems compelling when compared to the acura mdx. Does anyone know of a site or a link which would give current lease rates on the mdx? thanks.
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    jhabrejhabre Member Posts: 17
    I have the lease rates for the Base MDX 12,000 mi/yr & no security deposit:
    36 mos has MF of .00285 and RV of 64%
    42 mos has MF of .00260 and RV of 60%
    I believe 15K per year is $10-$15 more per month
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    mkbdmkbd Member Posts: 8
    I am in South Florida. What should the deal be on a base MDX?
    36 month lease
    12,000 miles/yr
    no down payment
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    jhabrejhabre Member Posts: 17
    We negotiated the selling price of the base down to $37, 345 (MSRP is $40,665). With your parameters and no down payment, it's $573 per month. I haven't signed a deal... waiting for a better price or a drop in the money factory (.00285) which is high compared to it's competitors.
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    gdhop1gdhop1 Member Posts: 1
    I am interested in leasing a 2007 MDX with technology, sport & DVD also want to extend mileage to 25k miles per year on the front side. I know it will be driven that much and have found it cheaper to buy on the fornt side than pay the penalty. Can you tell me what I should expect to pay. Three dealerships in SC have told me they will not discount off the sticker at all on 2007 because of redesign this year.??? Help anyone??
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    mdx_7mdx_7 Member Posts: 2
    Has anyone been quoted MF rates and residuals for Base model with Tech, 12K/year for either 24 or 30 months? I realize this is on the short side of a lease, compared to what's typically discussed on this forum, but our SUV needs will likely change within 30 months. This is our first lease too...been doing a lot of self educating on lease mechanics, thanks in large part to this site. Cheers.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey kilt98. Using an MSRP of $43,495 and a selling price of $42,250, I estimate that the zero down, pre-tax monthly payment for a 36 month Honda Finance lease of a 2007 Acura MDX with the Tech package and with 12,000 miles per year should be around $615.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Dave. You never mentioned the selling price or MSRP of the MDX that you are interested in leasing. These are important numbers 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 this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Mike. Let me begin by saying down payments of $2,500 and $6,000 are way too large. It is in your best interest as a consumer not to make any sort of capitalized cost reduction when leasing. Consumers who make them, risk losing them if their vehicle is totaled in an accident or stolen and never recovered. I guess if your company is making the down payment then you may not care what happens to it though.

    What you really need find out to evaluate this deal is this truck's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. I will gladly give you my opinion of this deal if you let me know what the selling price is.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi navboy. Acura is not currently providing any sort of lease support on the 2007 MDX. As a result, if you want to lease one through Honda Finance, you will have to use its standard lease program. Honda Finance's current standard buy rate lease money factor for a 36 month lease of a 2007 MDX is .00275. Its 36 month, 15,000 mile per year residual value is 62%. The numbers for a 42 month, 15,000 mile per year lease are .00250 and 58%.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey navboy. Unfortunately Acura's February's lease money factors for the 2007 MDX aren't really any better than its January lease money factors. It still isn't providing any lease support on it. If you were to lease one through Honda Finance right now for 36 months, you would have to use its buy rate standard lease money factor of .00275.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mkbd. Your lease payment on this truck will depend upon what sort of selling price you are able to negotiate on it. For now I will assume that you are able to get it for $1,000 over dealer invoice. If you can do better than that, your lease payment will be lower. According to my calculations, if you were to lease a base 2007 Acura MDX with an MSRP of $40,665 and a selling price of $37,733 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $501 assuming that you pay a security deposit at lease signing and qualify for its "Super Preferred" credit tier.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gdhop1. I'm not surprised that Acura dealers have been hesitant to provide discounts on the MDX. It was indeed recently redesigned and it is being fairly well received by the public. The lack of lease support on it is a testament to just how well it is doing. It sounds like you have shopped around at several dealerships in your area. If there are any others, given them a shot. If not, wait until we are closer to the end of the month and try the dealers that you have already spoken with again. They may be more anxious to make a sale then. Also, make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Acura MDX: Prices Paid & Buying Experience". If you tell me what selling price you are ultimately able to negotiate I would be happy to use it to estimate what your lease payment should be like right now.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mdx_7. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Acura MDX with the Tech Package and 12,000 miles per year are .00375 and 67%. The numbers for an otherwise identical 30 month lease are .00375 and 62%. As you can see, these money factors are pretty high. You would be better off going with a 33 month lease or longer, for 33 to 39 months this truck's money factor drops to .00275 and for leases that are longer than that it drops to .00250. All of the aforementioned money factors are for consumers who qualify for Honda Finance's "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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    mdx_7mdx_7 Member Posts: 2
    Thanks Car_man. Decided to go with the 36 month lease due to lower MF rate. Here's what I've been quoted...36 mos. term, 12k/year, .00285MF (no security), 64% RV for base model MDX (MSRP of $40,665) negotitated price $38,800. Having roof rails and running boards installed for $900 for total cap cost: $39,700. $1606 due at signing. Dealer said running boards adds $400 to end of term RV. Monthly payment inc. tax $594.43. Fair deal?

    Was told that in my area (Fairfield County CT) there was limited room to negotiate price due to the demand. I got $1,865 off MSRP for Base MDX ($1805 over revised invoice pricing). As comparison I was told by the dealer that MDX w/ Tech was typically discounted $1400-$1500 off MSRP due to the higher margins of the Tech trim line.
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    23109vc23109vc Member Posts: 218
    leased an MDX
    42 month, 12k/year
    $1100 total out of pocket
    $655/month including tax

    2007 MDX w/tech. Running boards, roof rack, cross bar. Pro pack - all season mats, trunk liner, wheel locks.

    I'll have to look at my contract to check numbers but I believe this was a bit over $2000 off MSRP.
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    gopherhockey1gopherhockey1 Member Posts: 3
    Tech + Entertainment Model
    --------------------
    Price $45695 MSRP 46365
    42 months, 12,000 miles
    Redidual .56
    Rate: 2.70
    Cash down $2000
    Monthly Payment: $711.49

    Tech package only model
    ---------------------
    Price $43495 MSRP 44165
    42 months, 12,000 miles
    Redidual .58
    Rate: 2.70
    Cash down $2000
    Monthly Payment: $654.49

    I can do much better, can't I?
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    mkbdmkbd Member Posts: 8
    I was quoted similar numbers for the MDX and also found them to be high. Today I was quoted $529/month for a base model with leather interior Audi Q7. This was based on a selling price of around $43k. An Audi for less money seems interesting. FYI the Audi dealers in Miami are much more civilized than the Acura dealers.
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    23109vc23109vc Member Posts: 218
    during my phone calls..the best I was offered on a Tech + Entertainment was $655/month wtih $1100 down.

    On a TEch only...I got them down to $1100 down and $642/month. that was with no accessories.

    i ended up with a tech model but had roof rack, cross bars, and running boards for $655/month.
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    23109vc23109vc Member Posts: 218
    i did better than that. basically..i only put down $1000 and had the SAME payment for a tech model...BUT i also got roof rack, running boards, and the cross bars...those three add ons are roughly $1000 MSRP..maybe a tad more...

    if you call around looking for the lowest price, you'll get quoted on a model wtih no running boards roof rack..and in my opinion, after looking at 10-20 MDXs - the car NEEDS the boards/roof rack to look right. the ones missing it look wimpy.
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    rnmomrnmom Member Posts: 32
    I have been looking into leasing the MDX with Tech pkg. I have leased from American Honda in the past and have had the security dep waived, I have a few questions
    Dealers ask if you are buying or leasing do you tell them buy so you can get the price down? I cant seem to get them to tell me the price of the car/ I also have been told by the dealer that the Bank Fee is a cost from Honda Fiance, when I called Honda I was told it was a dealers cost I can seem to get them to waive that fee.
    I did get one price 550 a months 36months and 10k with first month,MV fees and Bank fee.
    Please help with how to negiotate the lease
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    jhabrejhabre Member Posts: 17
    Hi Car_man,

    Do you know if the lease rates on the 07 Base MDX will improve in a March? I got the following quote (in PA):

    Price $37,345 MSRP $40,665
    42 months, 10,000 mpy
    Residual Value: $24,805
    Money factor: .0026 (no security dep)
    Monthly Payment: $501
    Total due at signing: $1225

    Now I'm not sure if I can do better on the MF if I wait until March. I also would rather lease for no more than 36 mos (but that will increase the monthly payment by $40 on a 36 mos lease). Are there any repercussions for leasing for 42 mos? What do you think?
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    gsnoddygsnoddy Member Posts: 14
    Well....this is essentially the question. Is it possible to lease an MDX that is used? Would this make the monthly payment lower, or would it be so close to the lease of a new year model that it really makes no sense to consider this?
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    tpolanskitpolanski Member Posts: 4
    jhabre:

    Is your price of $37,345 invoice or what the dealer is offering you?

    I'm in Erie, PA. Looking to lease by Feb. 28. Base Acura MDX. 42-month, .0026 money factor, 10,000 with $3500 down (includes 2500 down, security, 1st mo.) Price quoted: $38,600. Payment = $469 mo. Your deal looks better than my deal.

    I'd like to know if March will offer better terms as well.

    thanks.
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    jhabrejhabre Member Posts: 17
    Hi tpolanski,

    Invoice on the base mdx is $36,935. My dealer offered me $37,345, same perameters as yours, but I will pout no $0 down and my monthly is $501 taxes included. I live near Philly. I think you can do better. I'm going to the dealership tomorrow...
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    tpolanskitpolanski Member Posts: 4
    jhabre,

    Thank you for the reply. Can you provide dealership name?

    Any idea of March rates?

    tammy
    tpolanski@manp.org
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    tpolanskitpolanski Member Posts: 4
    Car man,

    Any idea what lease rates ACURA MDX will offer in March?

    Looking to buy @ end of Feb.

    Thank you,
    Tammy
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    jhabrejhabre Member Posts: 17
    Piazza Acura in Ardmore PA.
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    tpolanskitpolanski Member Posts: 4
    jhabre:

    I owe you a BIG THANK YOU!

    Because of your info/email I was able to negotiate $610 over invoice for a base Acura MDX!!!! Saved me $1000 more off sticker ($3,000 total) and cut my lease payment by $50 a month!

    Did a "fax attack" as suggested on fightingchance.com (great website) on Mon. Feb 26 as they suggested. Had 2 phone calls within 10 minutes. First dealer offered $1500 off sticker. Second dealer needed to hit quota to get bonus and "matched" my request of $410 off based on "internet quote" (from you). Went w/local dealer (color I wanted) for $200 more.

    Today's the last day of the month. Going to dealer to sign papers in 1 hour.

    Thanks again!
    Tammy
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    jhabrejhabre Member Posts: 17
    Tammy:

    You're very welcome! I went to Piazza Acura on Tuesday and signed a deal on the Base MDX. I figured it was a good deal, so why wait until March. Chances are the rates will be the same as February. The dealer even installed my son's car seat. Enjoy your new car... I love mine!

    Jaime
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    k2mdxk2mdx Member Posts: 4
    I'm ready to lease 2007 MDX, but I will most likely buy it at the end of the lease. I have two questions related to residual value

    1) Is residual value calculated as percentage of MSRP or actual sale price. Most quotes I got it was based on MSRP but some of sale price. This is important to me since I got quote with the best payment but higher residual, and vice versa.

    2) Is residual value specifed on the leasing contract?

    thanks in advance
    K2
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    kyfdxkyfdx Moderator Posts: 241,029
    1) % of full MSRP, including destination charge.

    2) Yes... usually as a specific dollar amount.

    Edmunds Price Checker
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    k2mdxk2mdx Member Posts: 4
    thanks!
    Hmm, so basically when you lease you end up paying MSRP on the residual portion no matter what the sale price is.
    One more question:
    I assume they adjust for higher mileage by lowering the percentage points for calculating residual (e.g. 64% for 12k, 58% for 18k)?
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    kyfdxkyfdx Moderator Posts: 241,029
    Sort of... The residual is determined by the MSRP. Which makes sense... If you negotiate a great deal, but the next guy negotiates a poor deal on the exact same car... The cars will be worth the same at the end of the lease... so, the residual should be a fixed amount.

    What you pay is the difference between the negotiated price and that fixed residual.. plus financing charges. You want the residual to be based on the highest price possible, as that lowers the amount you have to pay for the lease.

    And, yes... you are correct about the residual percentage.. It goes down as the mileage allowance increases.. Generally, for an Acura, the residual percentage for 3yr/45K leases is 2% lower than a 3yr/36K lease.

    regards,
    kyfdx

    Edmunds Price Checker
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    maykiljunemaykiljune Member Posts: 1
    Hey Car_man,

    Do you have any updated lease info for March? I'm looking at either a 36 or a 48 month lease with 15,000 miles. The money factor they're telling me is .00304 (7.29%) and they're telling me the 48 month residual @ 15K miles is 48%. The rate sounds high to me and the residual sounds low. This supposedly is with the Super Preferred Honda rates. Thanks!
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