Wow, that is a wonderful deal! I live south of Philly in Maryland and would be willing to go to your dealership if I could get the same deal. Would you be willing to share the name of your sales person/mgr you worked with to get this deal?
Does anyone know what the current residual value is for a 2007 MDX with Technology and Entertainment package? The lease term would be 42 months, 12000 miles per year.
I was quoted 54% for the Tech package alone for the same terms.
No problem, mdx_7. The dealer invoice price for a base 2007 Acura MDX is $36,935. The price that you were quoted for this truck is $1,865 over invoice. This isn't bad, but there's enough room there that if you are in an area that has a decent level of competition you may try to see if you can beat it. Acura's lack of lease support on this model is evidence that it has been selling pretty well, so this might be the best that you can do, but it wouldn't hurt to shop around a little. 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".
Hi gopherhockey1. You were only quoted a $670 discount off of this truck's MSRP. The 2007 Acura MDX with Tech and Entertainment has a spread of over $4,200 between its full MSRP and its dealer invoice price, so if you shop around there is a good chance that you will be able to negotiate a larger discount than the one that you were quoted. I believe that Honda Finance's current buy rate lease money factor for a 42 month lease of this truck is .00250 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. It would be .00010 higher if you want to have your security deposit waived. Shop around to see if you can get a bigger discount and then have the dealer that gives you the best price calculate your monthly payment using the aforementioned money factor.
Hi rnmom. I always try to be honest with dealers when I want to lease a new vehicle. It doesn't matter if they know that you want to lease if you tell them that you want to negotiate your vehicle's selling price before you talk about its payment. Shop around and negotiate the lowest selling price that you can on the MDX that you want and then have the dealer that gives you the best price calculate your truck's monthly payment using its buy rate lease money factor.
I am surprised that someone at Honda Finance told you that its bank fee aka acquisition fee is an optional charge that dealers have the ability to waive. This is definitely not the case. Honda Finance charges an acquisition fee of $595 on every vehicle that it leases.
Hi jhabre. Unfortunately, Acura did not introduce any lease support on the MDX for the month of March. Consumers who want to lease one through Honda Finance still have to use its standard lease program. Its March buy rate lease money factor is exactly the same as the one that you mentioned in your post.
Other than the fact that it is a long time to be committed to one vehicle, there's nothing wrong with leasing an MDX for 42 months. This truck's basic warranty is 4 years /50,000 miles so you don't have to worry about it running out...unless you put a ton of miles on your vehicle, which you don't.
Hi gsnoddy. I believe that Honda Finance does have a lease program for Certified Pre-Owned vehicles. The problem with leasing used vehicles is that manufacturers usually do not provide a lot of support on used vehicle leases. As a result, the difference between a lease payment on a used vehicle and a similar brand new model is often not as much as one would initially think. Shop around and get a few price quotes on a used MDX, but make sure to compare the leases that you are quoted to what it would cost to lease a brand new MDX.
Hi Tammy. Unfortunately, Acura is still not providing any lease support on the MDX in March. If you want to lease one through Honda Finance, you will have to use its standard lease program. If you describe the exact MDX that you want to me and tell me how long you want to lease it for and what mileage allowance you need I will gladly tell you what its current lease program is like.
Hi maykiljune. I have seen this truck's March lease program and I would be happy to help you out. The numbers that you were quoted are a little off. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Acura MDX with 15,000 miles per year are .00280 and 60%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 48 month lease are .00250 and 50%.
Hi mayl629. Honda Finance's current buy rate lease money factor for a 42 month lease of a 2007 Acura MDX is .00250 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The residual value for an '07 MDX with both the Tech and Entertainment packages is 2% lower than models that just have the Tech package.
Car man - Could you do me a favor and provide the money factor and residual for a 2007 Acura MDX with Tech and Entertainment Package, 36/39 month lease term with 15K miles through Honda Finance with Super Preferred credit tier. Thanks. BTW, does Honda Finance accept multiple security deposits for a reduced money factor?
Thanks Car_man, wow I'm surprised that the residual is actually lower for the Tech+Ent than just the Tech alone. Wouldn't it make more sense that when it has more features and cost more money, that it should have a higher residual?
Hi Car_man, would you know the money factor and residual value for a 2007 MDX with Tech package, for a 36 months lease with 12,000 miles/year? Would you also know the difference, if I go down to 10,000 miles/year?
I'm looking to make my purchase within the next two weeks and have started negotiations with three dealers. All of them want to beat the competitors final lease cost, so I figured I'll compute it myself based on what I think would be the attractive sale price and offer that as a target to all three of them to beat.
Btw, I'm in northern NJ. Does anyone have any specific dealer to recommend?
I am currently looking to lease a 2007 MDX with Tech and Entertainment package with the additional features of cross bars, roof rails and the towing package. I was wondering what is the best lease offer out there. I am in the Tampa, FL. Any information would be great.
Carman,Is 42000 including destination charge is a decent deal for an 07 MDX w/ Sports Pkg??and what would be the best term to lease this vehicle,3 or 4 yrs??im located in Bay Area Califorina btw.Thanks!
Can anyone tell me if putting down $5000 - $6000 down on a base 2007 MDX can get me close to a $400 a month payment? Am I in the ball park here, or paying too much or too little? This would be for a 42 month lease at 10,000 miles a year. Unfortunately here in Charlotte we are only blessed with one Acura dealer, with the next closest one being 90 miles away.
Since I went into my current lease blindly and the experienced person who helped with the lease is no longer in the picture, I'm handling my upcoming lease termination on my own -- and I'm quite anxious about it! I'm trying to read up and learn as much as I can about the process but have some questions.
Here's my situation: My 36-month/15K lease on my '04MDX expires on 7/1/07. Current mileage is low at 20,400. I'm now paying $489 through Honda Financial Services and I'm looking to lease either a '07 Honda Pilot or '07 MDX for around the same price or less (36-months/15K miles).
Q1 - is this a realistic goal?
Q2 - Honda's residual value estimate for 6/15/07 is $25,132. Is the residual value considered the trade-in value on a lease calculator?
Q3 - Do I get penalized in any way if I turn in the car and lease from a different dealership than where the lease originated?
Q4 - Is it too early to start searching for my new lease vehicle? I'm not sure how often the Pilot and MDX inventories change in the Boston area.
I would appreciate any and all responses! :confuse:
Here you go, bgut1. 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 and Entertainment Packages and with 15,000 miles per year are .00280 and 56%, respectively. The numbers for an otherwise identical 39 month lease are .00280 and 51%. These money factors are for consumers who qualify for Honda Finance's "Super Preferred" credit tier and pay a security deposit at lease signing. I am not sure if Honda Finance has a multiple security deposit program. If it does, I have never heard anything about it. You should ask your dealer to see if it does.
You're very welcome, mayl629. Interestingly, vehicles that are equipped with entertainment systems frequently have lower residual values than vehicles that do not have them. The same goes for navigation systems. For whatever reason, these options just don't seem to retain their value that well.
Greetings Jay. Honda Finance's current 36 month buy rate lease money factor and residual value for a 2007 Acura MDX with the Tech Package and with 12,000 miles per year are .00280 and 60%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The money factor for a lease with only 10,000 miles per year would be the same, but its residual value would be 1% higher.
Greetings fellow coffee lover. As I sit here sipping (more like gulping) a cup of Joe, I would be happy to give you an idea of how much it would cost to lease the truck that you are interested in. In order for me to do so I need you to provide me with the full MSRP and approximate selling price of the exact truck that you want. You can stop by the following discussion to get an idea of what sort of selling price to expect: "Acura MDX: Prices Paid & Buying Experience". Let me know and I'll crunch some numbers for you.
Hi chasieboy. The dealer invoice price for a 2007 Acura MDX with the Tech and Sport packages, but without the entertainment system is $42,004. The price that you were quoted is right around dealer invoice, which is an excellent deal for this truck. Acura is not currently providing any sort of lease support on it. I personally would go with a 39 month lease of it right now because I don't like be committed to vehicles for longer than that, but given the fact that this truck comes with a 4 year basic warranty there's nothing really wrong with leasing for 4 years. Generally speaking, the longer you lease for, the lower your monthly payment will be.
Greetings ncshew. I always advise consumers against making large down payments on leased vehicles. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered. Sure your monthly payment will be a little higher if you don't make a down payment but not making one is much safer. You can always use the money that you would have put down to supplement or make a few of your lease payments if you want. I would be happy to estimate what the lease payment should be like on the truck that you are interested in if you provide me with its full MSRP and approximate selling price.
Hi gr8deal. Acura is not currently providing any lease support on the 2007 MDX. As a result, there is a very good chance that the lease program that was available on it when you leased your 2004 model was better than its current program, causing it to be more expensive to lease now. If you provide me with the full MSRP and approximate selling price of the exact MDX that you are interested in I would be happy to give you an idea of what sort of lease payment you should expect. You can look up the MSRP of the truck that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. Once you know its MSRP, check out the following discussion to see how much other community members have paid for similar trucks lately: "Acura MDX: Prices Paid & Buying Experience".
You can return your current leased MDX to any Acura dealer, not just the one that you leased it from. Just make sure to make an appointment to return it rather than just showing up with it.
It's never too early to learn how leasing works, but the lease program that is available on this truck in July will likely be different than its current program.
Thanks, Car-man. I'll get back to you with the specifics of the exact MDX I'm interested in. I appreciate your help.
Another question -- I can't locate a copy of my original lease paperwork. Would Acura be able to provide it to me, or do I have to go back to the dealership? (and if so, would they give me any hassles about this request?)
Hi drsnocaps. It really is not in your best interest to lease this vehicle for 60 months. To begin with, it only comes standard with a 4 year / 50,000 mile basic warranty. That means that you will have to pay for anything that goes wrong with it over the final year of your lease out of your own pocket. Furthermore, a lot can happen over the course of five years to cause you to want to get out of this lease and doing so is usually very expensive. For example, your commute could change causing you to go way over your mileage allowance, you could just plain get sick of the truck, your financial situation could change causing you to want a more / less expensive vehicle, etc... You would be better off going with a 36 to 39 month lease, or a 48 month one at the longest.
No problem, gr8deal. Both Honda Finance and your dealer probably have copies of your original paperwork, but neither will probably be thrilled about digging it up for you.
Ended up leasing a 2007 MDX Sport for $42,588 at Sierra Acura in Alhambra, CA. You have to go through internet sales and they're only selling it at this price because they got an extra shipment in. Not sure if the other packages will have such a good discount.
I leased a 2007 MDX Sport for 36 months at 12,000 miles.
MSRP: $46,265 Cap Cost: 42,588 Acq Fee: 595 Down: 3.86 (just to make my due at lease even) MF: .0029 (can do a security deposit for .0028 mf) Residual: 59% Sales Tax: 7.75%
Due At Signing First month + tax / license fees: $1097
The final deal I got for the 2007 MDX with Tech Package was as follows:
- 36 months, 12k miles/year - $1,600 down - including 1st payment, $500 sec deposit, tax, title registration etc - $635/month
My first preference of colors was in stock with this dealer, so I'm not sure whether I got a special price for an in stock car or not.
After negotiating, and agreeing to the above deal, I ended up changing my mind and decided to purchase instead. I paid $40,280 + Taxes (7%) and Registration.
Does anyone have the April lease figures (residual values,and lease factors)for the 2007 MDX. I am interested in the following models: Top Choice: 2007 ACURA MDX SPORT, 15k miles per year, for 36, 39, 42 months
2nd Choice: 2007 ACURA MDX TECH, 15k miles per year for 36, 39, 42 months
here is the deal I am getting on an MDX (w/ Tech Package): 36 mons 12,000 miles, $1,788 out of pocket (tax, tag, and first month) for a payment of $684.50 a mon. Selling price is $42,191.03 plus all fees and tag (transfer). Residual amount is $25,615.70. Is this a good deal?
I got a decent quote (based on the input in this forum) of $38,000.
I'd like to know what the money factor and residual would be to lease this vehicle for either 42 or 48 months with 15k per year.
My last vehicle was leased for 4 years and it took the headache out of having to deal sooner. Of course, the time has come (inevitably) and I need a new car, so that I don't have to extend my lease again. I've looked at a few others; hoping this works out.
Thanks Car_Man, Kyfdx and anyone else who has the answers!
CARMAN ...perhaps you can help -- I am looking at leasing a '07 TECH/RES...with 10K/yr for 36month. I had seen somewhere that some dealers will "rebate" you for miles not driven under the lease agrrement. Yet when I contacted the dealer in Westchester--the one with the best price, he claimed he never in all his years ever heard of such a thing. Fair is fair..and if I drive over the limit I have to pay..and if I drive below the limit..then they dealer gets a car with a higher resale value at the end of the lease. Can you help clarify...thanks very much
Here you go, oghowie. Through April 30th, Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura MDX Sport without the entertainment system with 12,000 miles per year are .00270 and 59%, respectively for consumers who pay a security deposit at lease signing and qualify for its "Super Preferred" credit tier.
Hi Michael. I haven't seen this truck's 42 month residual value lately, but that is not as important as its money factor anyhow because individual dealers do not have the authority to alter banks' residual values. Honda Finance's current 42 month buy rate lease money factor for the 2007 Acura MDX is .00240 for consumers who pay a security deposit at lease signing and qualify for its "Super Preferred" credit tier.
Hi navboy. Here's the information that you're looking for. Through April 30th, Honda Finance's 36 month buy rate lease money factor and residual value for a 2007 Acura MDX Sport without the entertainment system are .00270 and 57%, respectively. For some reason, this truck's 39 month residual value is significantly lower than the 36 month resid so you probably don't want to lease for 39 months. The numbers for an otherwise identical lease of an '07 Acura MDX Tech without the entertainment system are .00270 and 58%.
Hi mumper. If you were to lease a 2007 Acura MDX Tech without the entertainment system through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00270 and 58%, respectively if you pay a security deposit at lease signing and qualify for its "Super Preferred" credit tier. Honda Finance's 39 month lease program for this truck is much worse than its 36 month program.
Hello mcandes. The dealer invoice price of a 2007 Acura MDX with just the Tech package is $40,104. If this is the exact truck that you are getting, the selling price that you were quoted is $1,997 over invoice. This isn't bad, but if you are in an area that has a decent level of competition I would not be surprised if you were able to beat this price. 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". When you arrive at a selling price that you are comfortable with, make sure that the dealer you are working with uses Honda Finance's buy rate lease money factor of .00270 (for a 36 month lease of an '07 MDX) to calculate your monthly payment.
Hey maradag. Through April 30th, Honda Finance's buy rate lease money factor and residual value for a 48 month lease of a base 2007 Acura MDX with 15,000 miles per year are .00240 and 50%, respectively assuming that you pay a security deposit at lease signing and qualify for its "Super Preferred" credit tier.
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Wow, that is a wonderful deal! I live south of Philly in Maryland and would be willing to go to your dealership if I could get the same deal. Would you be willing to share the name of your sales person/mgr you worked with to get this deal?
I'd really appreciate your help!
You can email me at stetsonbu@hotmail.com
Thanks!
Jason
I was quoted 54% for the Tech package alone for the same terms.
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I am surprised that someone at Honda Finance told you that its bank fee aka acquisition fee is an optional charge that dealers have the ability to waive. This is definitely not the case. Honda Finance charges an acquisition fee of $595 on every vehicle that it leases.
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Other than the fact that it is a long time to be committed to one vehicle, there's nothing wrong with leasing an MDX for 42 months. This truck's basic warranty is 4 years /50,000 miles so you don't have to worry about it running out...unless you put a ton of miles on your vehicle, which you don't.
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I'm looking to make my purchase within the next two weeks and have started negotiations with three dealers. All of them want to beat the competitors final lease cost, so I figured I'll compute it myself based on what I think would be the attractive sale price and offer that as a target to all three of them to beat.
Btw, I'm in northern NJ. Does anyone have any specific dealer to recommend?
thanks,
Jay
If you're concerned with the monthly payment amount, the best way to do it is to put that money aside and pay from it on a monthly basis.
It's just my 2-cents!
Here's my situation: My 36-month/15K lease on my '04MDX expires on 7/1/07. Current mileage is low at 20,400. I'm now paying $489 through Honda Financial Services and I'm looking to lease either a '07 Honda Pilot or '07 MDX for around the same price or less (36-months/15K miles).
Q1 - is this a realistic goal?
Q2 - Honda's residual value estimate for 6/15/07 is $25,132. Is the residual value considered the trade-in value on a lease calculator?
Q3 - Do I get penalized in any way if I turn in the car and lease from a different dealership than where the lease originated?
Q4 - Is it too early to start searching for my new lease vehicle? I'm not sure how often the Pilot and MDX inventories change in the Boston area.
I would appreciate any and all responses! :confuse:
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You can return your current leased MDX to any Acura dealer, not just the one that you leased it from. Just make sure to make an appointment to return it rather than just showing up with it.
It's never too early to learn how leasing works, but the lease program that is available on this truck in July will likely be different than its current program.
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We live in Cary, NC
Another question -- I can't locate a copy of my original lease paperwork. Would Acura be able to provide it to me, or do I have to go back to the dealership? (and if so, would they give me any hassles about this request?)
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Do you have the current Money Factor and residual on a 3yr 12k mile lease for APRIL? I'm interested in a 2007 MDX with Sport.
Thanks!
Tell them Howard sent ya!
MSRP: 43,495
Purchase Price: 40,500
Lease Term: 42 months
No down payment
Excellent credit
What is the money factor and residual value?
Thanks.
Michael
I forgot to add the mileage - 12 K miles/year.
Thanks again.
Michael
MSRP: $46,265
Cap Cost: 42,588
Acq Fee: 595
Down: 3.86 (just to make my due at lease even)
MF: .0029 (can do a security deposit for .0028 mf)
Residual: 59%
Sales Tax: 7.75%
Due At Signing
First month + tax / license fees: $1097
Total Montly Fee: $695.60
The final deal I got for the 2007 MDX with Tech Package was as follows:
- 36 months, 12k miles/year
- $1,600 down - including 1st payment, $500 sec deposit, tax, title registration etc
- $635/month
My first preference of colors was in stock with this dealer, so I'm not sure whether I got a special price for an in stock car or not.
After negotiating, and agreeing to the above deal, I ended up changing my mind and decided to purchase instead. I paid $40,280 + Taxes (7%) and Registration.
This was from Open Road Acura of Wayne, NJ.
Cheers,
Jay
Top Choice: 2007 ACURA MDX SPORT, 15k miles per year, for 36, 39, 42 months
2nd Choice: 2007 ACURA MDX TECH, 15k miles per year for 36, 39, 42 months
Thanks in advance!
Thanks!
36 mons 12,000 miles, $1,788 out of pocket (tax, tag, and first month) for a payment of $684.50 a mon. Selling price is $42,191.03 plus all fees and tag (transfer). Residual amount is $25,615.70. Is this a good deal?
I'd like to know what the money factor and residual would be to lease this vehicle for either 42 or 48 months with 15k per year.
My last vehicle was leased for 4 years and it took the headache out of having to deal sooner. Of course, the time has come (inevitably) and I need a new car, so that I don't have to extend my lease again. I've looked at a few others; hoping this works out.
Thanks Car_Man, Kyfdx and anyone else who has the answers!
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