Thanks, Car_Man. I will find out those numbers shortly, but aren't those numbers only relevant if I want to buy the car at the end of the lease term? If I plan simply to return it, why would sales price, residual value, money factor or any factor other than money down and monthly payment have any relevance to me?
We are getting ready to lease a 2007 MDX with Technology Package ($43,495 MSRP) and negotiated the price to $41,500, which is basically $1200 over invoce + dealer installed protection package. These are the lease details that I am quoted by the dealer: 36 mo: residual 57%, money factor 0.00375 48 mo: residual 52%, money factor 0.0040.
After looking at the posts on this forum, these numbers seem high. I have a credit score of 799 but was not offered .00265 money factor like some of the people on this forum were. Is the money factor that different for MDX with tech package or is the dealer trying to rip me off? :confuse:
I've been looking at the 2007 MDX with technology pckg as well. I was quoted a selling price of $41,400 (sticker price of $44,165). Money factor for 36 months I was quoted is .0032 with a 54% residual. I want either at 15K mile or 18 mile lease.I don't want to put money down on it if I can help it. Here's monthly payments quoted by dealer for 15k miles: If I put $1,000 down, payment is $786.07 a month. If I put $8,658 down, payment is $538.25 a month.
For 18K mile lease: $1,000 down gets me a $808 payment $9,943 down gets me a $520 payment.
I leased an mdx w/a tech/entertainment package and got sport running boards, roof rails and cross bars as well as body side moldings. The purchase price of the car with those dealer options was $43,400. I got a 42 month lease with a .00265 money factor. The residual was 51% (I'm fairly certain of that, but not positive). I rolled everything into the payment, including tax and bank fee, so all I paid at signing was first month's lease payment and a $220 vehicle registration fee. I'm paying $744/month. They waived the security deposit.
Honda finance will charge .10 a mile and lease a vehicle anywhere from 24 to 60 months. Currently we have a client with a 2 year, 50,000 mile a year lease
.10 mile over the annual allowance? I think the lowest I heard of was .15 and that was two years ago. .20 seems to be the standard. I just want to understand why each dealer comes up with completely different #s for the money factor, residuals, charge per mile even though I tell them I qualify for Honda Financial's super premium tier financing.
I've been quoted new numbers for MDX as of 7/19 (so says my salesman) to the tune of .00209, MF. I was quoted 42K for an MDX Sport, but I was quoted that over a month ago. (New York area, dealer was Curry). I'm going to counter offer 41.5K out the door and see where that leads. Has anyone in the NY/NJ area seen better than invoice numbers as recently as this week? I was told they're moving the 07's to make room for the 08's, but they're not hitting the showrooms for the next month or so...
I am looking for a good lease in the Tacoma, Seattle area, and the deal you got is the best I've seen. Could you tell me where you got the deal and if there is someone I should contact, eg internet mgr? Alan
I just received an offer from my local dealer Northern NJ area to get out of 2004 MDX lease a few months early and get new 2007 with tech/entertainment 36 months/12,000 per year for $665 per month with 1,500 down includes 1st month and bank fees
Just got lease quote from dealer in NYC area on MDX w Tech/Ent package & $1,655 of accessories. Total price offered was $45,955 including the accessories. Lease was offered at $679/mo for 36 months, 10k miles per year (low but well within my driving habits), nothing down except $595 acquisition, state sales tax and TTL.
Is this a good deal? I ran the numbers (56% residual and I think .0029 money factor) and the monthly payment seems below what it should be.
I have a quote for a 2007 MDX with tech package in Northern NJ. No other accessories. MSRP $44,165. Selling price $40,603. Net cap cost $41,198. 36 mo lease, 20,000 miles, $22,350 residual (50.6%). Money factor of .00209. Monthly payment $658. Good deal?
I'm considering using $4,500 left over from a trade to put towards the lease (above #'s assume $0 of trade goes towards lease). Dealer tells me that's not good because I have $4,500 tied up in the lease (instead of in my bank account) and if the car gets stolen or totaled I'm out that money. Sound legit? Are there other reasons why I wouldn't want to put this $4,500 down. I really want to keep my payments to <$550. What do you think?
Dawgman1, After going back and forth via email with all the Acura dealers in the area and getting nowhere, i decided to walk into Bellevue Acura and see what they were offering. I spoke with Michael Chong, who is not the internet guy. He was very friendly and straightforward, it took us 25 minutes to agree and we take delivery of our MDX tomorrow. We didn't want all the extras, protection pack, running boards, rack, etc, he offered us one straight off the truck from the factory, before they had a chance to add anything.
I have been given the following numbers; 36 month, 15K for a Tech/Ent package. I've been offered 700 a month with 1000 down.
I'm getting the selling price, residual and MF tomorrow. but on the whole, its a whole lot better then the offer that I posted on the 'price paid ' page, that deal was 2k down + 1st month payment, 36 mos, 12K 686 a month.
what do you folks think? think i should take the 700 a month deal? need to do this quick so would greatly appreciate feedback soon..........thanking y'all in advance.
Looking for best lease price on Base MDX (Nimbus Gray/Taupe) with 12k miles in/near NC. MSRP $40,665 Advertised $499/mo with $2,999 due at signing for 10k miles.
How low should I be able to negotiate it with 12k miles (max $2k down)?
so what price can you get a base model for? invoice? below invoice? i saw different numbers for the the ent/sports and tech packages, but none for the base model. so is the moneyfactor .00209? thanks for your help. and what kind of accessories can i get wo/increasing the price if at all possible?
Just picked up my MDX, Tech/Ent 36 mos/ 15K. paid 1000 down and 700 a month in lease payment. Tax, TTL, All other fees included. oh, and got mats and the trunk liner thrown in too.
I got .00209, alas, the sale price was a bit high, 44K or so, but since I'd been trying to work a deal for a long time, I finally threw in the towel.
so the saga ends, but was it a happy ending? i wonder......
btw, thank you all for the help, you guys are awesome.....oh, and I bought it at Vandergriff Acura down in Dallas, their internet manager is a good guy, was the only straight shooter I met in my whole car buying experience.
You're welcome, ny1. It is true that ultimately the most important number is your vehicle's monthly payment, but without shopping around with a ton of dealers it is difficult to know if a payment that you have been quoted has any room left for negotiation unless you know what selling price you are being charged. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you negotiate an outstanding price on the Acura that you want and then have the dealer that gives you that price use Honda Finance's buy rate lease money factor to calculate your monthly payment, you KNOW that you are getting a good deal.
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Hi fjoyce. I am impressed with your dealer. They gave you excellent advise about using the proceeds form your trade as a down payment for your lease. I would have told you exactly the same thing. The selling price that they quoted you looks very attractive as well. The dealer invoice price of a 2007 Acura MDX with the Tech package is $40,104. The price that you were quoted for the one that you are interested in is $500 over invoice, which is a very good deal. The dealer is even using Honda Finance's buy rate lease money factor to calculate your monthly payment. This looks like a great deal and a great dealer. If you like the MDX, go for it. Don't forget to stop by the new Edmunds.com Dealer Ratings & Reviews section of this site to share your thoughts on this dealer with everyone.
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Hi xd404. This vehicle's lease program varies by term. You never mentioned what this variable is, so for now I will assume that you are interested in a 36 month lease. 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 2007 Acura MDX with 10,000 miles per year are .00209 and 59%, respectively.
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Hi pierce107. The best way to get a good deal on the MDX that you are interested in is to negotiate a selling price on it that is as close to dealer invoice as possible and then have the dealer that gives you that price calculate your monthly payment using its buy rate lease money factor. You can look up the invoice price of the exact model that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. Honda Finance's current buy rate for a 36 month lease of the '07 MDX is .00209 for consumers who qualify for its "Super Preferred" credit tier.
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Yes, xd404, Honda Finance's current buy rate lease money factor for the 2007 Acura MDX is indeed .00209 for consumers who qualify for its top credit tier. If I was interested in leasing this vehicle right now, I personally would shoot for a selling price of $500 over invoice. You can find this truck's invoice price by looking it up in the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get an idea of how much you will have to pay for an MDX right now by visiting the following discussion: "Acura MDX: Prices Paid & Buying Experience".
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Hi khanzh. Congratulations on getting your new MDX. Thanks for taking the time to share the details of your deal with everyone. I'm glad to hear that you found a dealer that you are happy with. Make sure to stop by the new Edmunds.com Dealer Ratings & Reviews area to share your thoughts on your experience.
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I got the following quotes for a dealer in NJ. Doesn't seem like there's room for negotiation. This is with $0 down:
Technology package: selling for $40,103, 57% ($25,174.05), and .00209 36 months 10,000 miles per year $551 plus tax.
Tech/Ent: selling for $42095, .56% ($25,964.40) and .00209 36 months, 10,000 miles per year $590 plus tax.
Also, I've leased a TSX from the same dealer back in January. My cituation has changed and I don't need the second car meaning TSX. Would trading it in for MDX make sense? Do I have any other options? Honda financial doesn't permit lease transfers.
Looking to lease a Tech/Ent, 36 months, 15k miles and the dealer says they will NOT pay anything towards cap.cost red because Aspen White is a "premium" color. I was quoted $685/mon lease pymt. This is despite the fact this will be the third MDX I leased from them (I'm keeping present '04 until Feb '08 for kid to drive), as well as having all service done there. They will not "throw in" anything-even all weather mats!!!
I received the following deal? Is this good? Every calculator that I come across comes up with a different number and I believe it's because I live in Maryland and the taxes are handled differently than in other states.
I negotiated a new '07 MDX Tech & Entertainment Package in New York for $40,600 with destination charge. Once that was negotiated, I moved onto the financing discussion. The dealer said that the Honda Lease money factor was 0.00356. So the monthly payment was ~$643. He said that for the price I negotiated they were not offering the 0.00209 money factor that I had heard about.
- Was this money factor really negotiable?
- He came back to me later in the day saying that they could offer 0.00209 money factor with a higher purchase price, which would net out to the same amount per month (although they get a higher sale price). I signed the lease because they knocked some addition up front money off
- Was tired at the time. What can I do now? I have not picked up the car.
I am looking to lease a 2008 MDX in NJ tech & entertainment package.Having a hard time getting money factor and residual.No one wants to tell me unless i go in to the dealer.Payments have been from $650- $710 42month 15k Can anybody provide money factor and residual??
Hello! i'm new on here, but i thought i'd share my experience with you guys. I'm in Socal, so, hope this helps....i couldn't find these numbers on here for September, so, i did a lot of fibbing and shopping around to find it! 2007 MDX Tech 12k miles 36 month lease Money factor = 0.00174 (that is the buy rate...i pitted 3 dealerships against each other and that's what they said) Residual = 54%
Scott84, I am researching the Acuras in NJ area also. did you ever find a good dealer to work with ? if you have any information you can share I would appreciate it. help me make a decision faster instead of wasting time .
Car man, please help. I am looking to lease a 2008 MDX tech/entertainment pkg. Can you please give me the current lease rates for top tier credit on a 12k and 15k miles for 36 month lease? Looking to do something this week. Also are dealers willing to work below MSRP as they usually do with Acura vehicles this early??
hi..i posted earlier, and i wanted to update. i just got a quote from a dealership here in socal, and i actually think it's pretty darn good, but just wanted an opinion. 2007 MDX Tech package 12k/year $1500 drive off $589.97/month (that's including tax!)
i did my calculations over and over again, and it seems to be pretty good...what do you guys think?
Sorry guys for posting so much...i'm starting to get a little paranoid!
Carman..please help me! Here are the specs for my deal i mentioned above:
2008 MDX Tech Package 12k/year 36 month lease Gross Cap Cost: $40695 (this includes a $595 acquisition fee) $1500 total drive off: ($480.30-Cap cost reduction + $37.22 Sales/use tax on amount paid in cash + $600.24-1st month + $325-iniial title fees + $45-doc prep fee + $12.24-CaTire fee)
Adj. Cap Cost: $40214.70
You know, I have been calculating over and over again for a 2007 MDX, and didn't even consider the 2008. They gave me a 2008 because they didn't carry the color that i wanted in the 2007. It almost seemed too easy for them to give me the 2008 at the 2007 prices. And, having mommy brain (just had a baby a couple months ago), I totally forgot to ask what the residual and the buy rate money factor was on the 2008. I was basing all my calculations on a 54% residual and the money factor of 0.00174 of the 2007 MDX.
So, after seeing all of this, does this look like it was a good deal? or did they gouge me? ugh! this is stressing me out!!!
2008 MDX with tech and entertainment systems... $599 X 36/monhts 10Kmiles/yr 5000 out of pocket up front. Is this a good deal? taxes in my area are 8.625. thanks anyone and everyone.
Comments
These are the lease details that I am quoted by the dealer:
36 mo: residual 57%, money factor 0.00375
48 mo: residual 52%, money factor 0.0040.
After looking at the posts on this forum, these numbers seem high. I have a credit score of 799 but was not offered .00265 money factor like some of the people on this forum were. Is the money factor that different for MDX with tech package or is the dealer trying to rip me off? :confuse:
If I put $1,000 down, payment is $786.07 a month.
If I put $8,658 down, payment is $538.25 a month.
For 18K mile lease:
$1,000 down gets me a $808 payment
$9,943 down gets me a $520 payment.
Does this seem like a good deal to anyone?
36 Months Money Factor: .00320 Residual: 54% ($23,849)
39 Months Money Factor: .00320 Residual: 49% ($21,641)
42 Months Money Factor .00295 Residual: 49% ($21,641)
Just completed a deal here in Seattle:
2007 MDX w/ Technology Pkg (+protection pkg)
Selling Price: 41846.67
Money Down: 2700 (all through trade-in)
Payments: $575/mo for 36mo
12K miles/year
Residual: 24732
I'm sure i could have gotten a better price somewhere but it was a 25 minute transaction and i'm pleased.
Bo.
for $665 per month with 1,500 down includes 1st month and bank fees
is this a good deal?
Is this a good deal? I ran the numbers (56% residual and I think .0029 money factor) and the monthly payment seems below what it should be.
I'm considering using $4,500 left over from a trade to put towards the lease (above #'s assume $0 of trade goes towards lease). Dealer tells me that's not good because I have $4,500 tied up in the lease (instead of in my bank account) and if the car gets stolen or totaled I'm out that money. Sound legit? Are there other reasons why I wouldn't want to put this $4,500 down. I really want to keep my payments to <$550. What do you think?
After going back and forth via email with all the Acura dealers in the area and getting nowhere, i decided to walk into Bellevue Acura and see what they were offering. I spoke with Michael Chong, who is not the internet guy. He was very friendly and straightforward, it took us 25 minutes to agree and we take delivery of our MDX tomorrow. We didn't want all the extras, protection pack, running boards, rack, etc, he offered us one straight off the truck from the factory, before they had a chance to add anything.
Good luck!
All the dealers I've talked to are working on getting rid of the 2007 but the deals could be better in the coming weeks.
Any one else...
I have been given the following numbers; 36 month, 15K for a Tech/Ent package. I've been offered 700 a month with 1000 down.
I'm getting the selling price, residual and MF tomorrow. but on the whole, its a whole lot better then the offer that I posted on the 'price paid ' page, that deal was 2k down + 1st month payment, 36 mos, 12K 686 a month.
what do you folks think? think i should take the 700 a month deal? need to do this quick so would greatly appreciate feedback soon..........thanking y'all in advance.
Advertised $499/mo with $2,999 due at signing for 10k miles.
How low should I be able to negotiate it with 12k miles (max $2k down)?
oh, and got mats and the trunk liner thrown in too.
I got .00209, alas, the sale price was a bit high, 44K or so, but since I'd been trying to work a deal for a long time, I finally threw in the towel.
so the saga ends, but was it a happy ending? i wonder......
btw, thank you all for the help, you guys are awesome.....oh, and I bought it at Vandergriff Acura down in Dallas, their internet manager is a good guy, was the only straight shooter I met in my whole car buying experience.
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I got the following quotes for a dealer in NJ. Doesn't seem like there's room for negotiation. This is with $0 down:
Technology package: selling for $40,103, 57% ($25,174.05), and .00209 36 months 10,000 miles per year $551 plus tax.
Tech/Ent: selling for $42095, .56% ($25,964.40) and .00209 36 months, 10,000 miles per year $590 plus tax.
Also, I've leased a TSX from the same dealer back in January. My cituation has changed and I don't need the second car meaning TSX. Would trading it in for MDX make sense? Do I have any other options? Honda financial doesn't permit lease transfers.
Thanks a lot
I'm not feeling the love from them. Am I right?
Thanks.
530 a month including taxes
36 months
15k miles per year
2300 total out of pocket
What does everyone think? Looking to do the deal by the end of the week.
Thanks.
2007 MDX Tech Pkg....15,000 miles, 36 months,,,,
MSRP $44165
Selling price $39,500
Money factor .00209
Residual is .54 = $23849
Acquisition Fee - $595
Destination - $695
Security Deposit - waived
$1,700 down = $641.00/mo
$2,300 down = $621.00/mo
CAR MAN - Can you or someone else knowledgeable run the numbers and verify that this looks good. Thanks!!
- Was this money factor really negotiable?
- He came back to me later in the day saying that they could offer 0.00209 money factor with a higher purchase price, which would net out to the same amount per month (although they get a higher sale price). I signed the lease because they knocked some addition up front money off
- Was tired at the time. What can I do now? I have not picked up the car.
Great price for Tech & Ent - closest I've got is 41,795 - what dealership?
Thanks so much - ready to buy today or tomorrow.
new to this forum, just picked up an 2007 MDX yesterday, wanted to share my figures and experience. Im in SO CAL and this is what I got...
07 MDX BASE, NO TECH/DVD, Black/Black
36 MO Lease
15K a year
Chrome Side Steps installed
3K total drive off, $532 including tax.
Any thoughts?
42month 15k
Can anybody provide money factor and residual??
thanks
2007 MDX Tech
12k miles
36 month lease
Money factor = 0.00174 (that is the buy rate...i pitted 3 dealerships against each other and that's what they said)
Residual = 54%
hope this helps!
2007 MDX Tech package
12k/year
$1500 drive off
$589.97/month (that's including tax!)
i did my calculations over and over again, and it seems to be pretty good...what do you guys think?
i just actually bought the mdx tonight. here are my deal specs...let me know if i did ok, or if i got ripped off please! i think i did ok...
2008 MDX Tech package
12k/year
$1500 drive off
$600 and some change/month for 36 months (that's including tax).
does that sound right?
Carman..please help me! Here are the specs for my deal i mentioned above:
2008 MDX Tech Package
12k/year
36 month lease
Gross Cap Cost: $40695 (this includes a $595 acquisition fee)
$1500 total drive off: ($480.30-Cap cost reduction + $37.22 Sales/use tax on amount paid in cash + $600.24-1st month + $325-iniial title fees + $45-doc prep fee + $12.24-CaTire fee)
Adj. Cap Cost: $40214.70
You know, I have been calculating over and over again for a 2007 MDX, and didn't even consider the 2008. They gave me a 2008 because they didn't carry the color that i wanted in the 2007. It almost seemed too easy for them to give me the 2008 at the 2007 prices. And, having mommy brain (just had a baby a couple months ago), I totally forgot to ask what the residual and the buy rate money factor was on the 2008. I was basing all my calculations on a 54% residual and the money factor of 0.00174 of the 2007 MDX.
So, after seeing all of this, does this look like it was a good deal? or did they gouge me? ugh! this is stressing me out!!!