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2013 and earlier-Acura MDX Lease Questions

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  • simonmarch2002simonmarch2002 Member Posts: 1
    just got a 07 MDX with Tech & Ent in Oh(6.5% tax) for 36 month/10K miles a year with 1900 miles for $664/- month with only the first month at signing. Is this reasonable? Thank You
  • smanziano1smanziano1 Member Posts: 11
    Hi Sleepysoo, may I ask what State you live in that you got this deal ? I am also looking at the same Make/Model car. Thanks.
  • sleepysoosleepysoo Member Posts: 54
    hey smanziano!

    I'm in Southern California. Hope this helps!! I'm still trying to figure out the residual and the buy rate money factor for this car, but i think i did ok...
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings rpo6g. Through October 1st, Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2008 MDX with the Tech Package and 15,000 miles per year are .00275 and 59%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, savop. Honda Finance's current buy rate lease money factor and residual value for a 39 month lease of a 2008 Acura MDX with the Tech and Entertainment Packages and with 15,000 miles per year are .00275 and 54%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. I believe that the buy rate for a 42 month lease drops to .00250.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, jcssat. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura MDX with the Tech and Entertainment Packages and with 15,000 miles per year are .00275 and 57%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but the residual value would increase by 2%.

    I am not intimately familiar with what the market is like for the '08 MDX in your area right now, but I suspect that you will be able to negotiate a discount on one. If I was in the market for this truck, I personally would shoot for a $3,000 discount and see what happens. You may be able to get an idea of how much you will have to pay by checking out how much other community members have paid recently in the "Acura MDX Prices Paid and Buying Experience" discussion.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sleepysoo. 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 what this vehicle's selling price is 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
    Ah ha. Scrolling down a little further I see that you provided some more information. This looks like a very good deal to me. The dealer invoice price of an '08 MDX with the Tech Package is $40,104. So after taking the capitalized cost reduction that you made into account, it looks like you were sold this vehicle for around $400 over invoice...which is great. As long as the dealer that you worked with used Honda Finance's buy rate lease money factor of .00275 to calculate your monthly payment you got a very good deal.

    Enjoy your new ride and make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello jaffman. 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 what this vehicle's selling price is 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 give you my opinion of this deal if you let me know what these numbers are.

    For now I can tell you that $5,000 is way too much money to pay at lease signing. I always advise consumers not to make large down payments when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though your monthly payment will be higher, you would be better off going with a zero down lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new MDX, simonmarch2002. I would be happy to give you my opinion of this deal, but it would be easier for me to do so if you were able to provide me with your vehicle's MSRP and selling price first. These numbers will show me how much of a discount you were given.

    Car_man
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  • hpowdershpowders Member Posts: 4,331
    What are the current MF and residual for a 2008 Base MDX for 3 years, 36,000 miles and also for 30,000 miles?

    Do you know if Acura offer 24 month leases? If so, what are the MF and residual for 24,000 miles?

    Thank you.
  • sleepysoosleepysoo Member Posts: 54
    Hey Car_man!!!

    You rock!!! Thanks for your help. Quick question though...I thought the invoice for the 08 MDX tech was $40,403 (including $715 destination...the info is from cars.com)? I know that the invoice for the 07 was $40,104, and the MSRP for the 08 is $44,410. Was I looking at the wrong thing?

    Just curious!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey hpowders. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Acura MDX with 12,000 miles per year are .00275 and 63%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. This truck's 10,000 mile per year residual value would be 1% higher. Honda Finance does offer 24 month leases, but you definitely do not want to do one on an '08 MDX. Its 24 month money factor jumps to .00370.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks sleepysoo :blush: . You're right, I was looking at the pricing data for the 2007 model. Sorry about that. That just means that you got an even better deal than I had originally thought :) .

    Car_man
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  • hpowdershpowders Member Posts: 4,331
    Thanks. Car_Man! :)
  • tms0425tms0425 Member Posts: 13
    I was just quoted the following on '08 MDX Sport

    MSRP 46,510
    Selling price 43,250 (a bit high)
    no acquisition fee (?)
    no security deposit
    no disposition fee
    no cash equity into it from trade or cash down payments
    Final cap 43,250
    36 months MF .00174
    Residual 25,511 (about 55%)
    I computed payment with Indiana 6% sales tax to be about $649 @ 36

    I was puzzled by the post above for 63% and MF .00275 which is much different?? Any thoughts on this deal? Also, I thought the .00174 was only available on '07, but he assured me it was there on the '08 yesterday.
  • tms0425tms0425 Member Posts: 13
    That .00174 I quoted above was totally incorrect. When I quizzed them why my payment calculation and theirs was way off they then quoted 0.00416!!! for 24 months, .00310 36 months, .00282 42 months. I guess that's their way of unloading the '07's. I'll just wait.
  • amelia2amelia2 Member Posts: 1
    the dealer here in orlando wants to add a dealer fee to acura's 2007 mdx national lease offer. total initial cash incl tax, first payment and reg is $3900. Monthly payment is 499 plus 32(tax). Is this a good deAL? all factors are the same based on national lease offer
  • sleepysoosleepysoo Member Posts: 54
    NICE!

    thanks car_man...i appreciate all the help!!!
  • sleepysoosleepysoo Member Posts: 54
    you know, i wouldn't get that if they're adding fees to the 07's. Most people i've read on this site, and even myself was able to negotiate a below invoice price on the 07's (although I ended up with an 08). Also, with that deal, they have you put $1905 towards cap cost reduction, and i wouldn't put that much money towards a downpayment on a lease, unless you have to to make the monthly payments manageable. but, i wouldn't pay an extra dealer fee on the 07's. There are people getting 08's at invoice without having to pay any extra fees, so the 07's shouldn't have them! but, i'm not sure if that's something specific to your area or no? You should try another dealership around there, and pit them against each other. i did all my negotiating over the phone and e-mail, and it was a lot less painful!!! besides, i just had a baby, and it's too difficult to hop between dealerships with an infant!
  • brywbryw Member Posts: 9
    I negotiated on an mdx with tech and ent pkg. Added the 19" Silver sparkle wheels and the side steps. The otd price is $50,662.04. I have never leased before, and these are the options I was given. Just want to make sure this is a good deal on the lease side. No money down, 48 month term. 12k mile - 767.70, 15k mile - 786.53, 20k mile - 824.98. Please give me your thoughts on this.
  • sleepysoosleepysoo Member Posts: 54
    you know, it's hard to tell if it's a good deal without knowing the MSRP, money factor, and resdiual on that car for 48 months. That being said, I dont know where you are located, but I got an MDX with Tech for $600/month. if you look at the previous posts, you can see my exact numbers. After calculating it, I got my 08 MDX with TEch pretty much at invoice. I'm in southern california if that helps. I don't know...to me, it seems a little bit high? I would pit more dealers against each other! I pitted 3 dealers against each other, and one finally came down!!! ;)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, hpowders.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tms0425. I actually don't think that the selling you were quoted is that bad. The dealer invoice price of a 2008 Acura MDX Sport is $42,307, which puts a selling price of $43,250 at around $900 over invoice. You may want to stop by the following discussion to see how much other community members have paid for similar trucks lately, but this is a reasonable price: "Acura MDX Prices Paid and Buying Experience".

    I can double check, but I believe that the salesperson who you spoke with was mistaken. I am pretty sure that the .00174 money factor is only currently available on the '07 MDX and that Acura is not currently providing any lease support on the '08 model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    The money factors that you were quoted are way too high. Assuming that you qualify for Honda Finance's top aka "Super Preferred" credit tier, its 24 month buy rate for the 2008 MDX is .00370, its 36 month rate is .00275, and its 48 month rate is .00250.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi amelia2. Rather than paying an additional dealer fee on top of the Acura's nationally advertised lease payment for the MDX, I personally would not be surprised if you were able to beat it. I actually have found that consumers who are in areas that have a decent level of competition are often able to negotiate lower selling prices then the ones that are used to calculate manufacturers' official advertised lease payments. Shop around with a few dealers in your area for the lowest possible selling price on the MDX that you want and then have the dealer that you are working with calculate your monthly payment using Honda Finance's buy rate lease money factor of .00174 (for "Super Preferred" tier customers who pay a security deposit).

    Car_man
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  • tms0425tms0425 Member Posts: 13
    Yes, the other dealers quoted .00275 for 36 and residual at 15k was 52% on the '08. Thanks!
  • brywbryw Member Posts: 9
    Okay, here is the rest. The money factor is .00260. The residual is 20,596.60 after 48 months and up to 80,000 miles. Again I am getting an 08 with sport and ent packages, 19" Silver Sparkle rims, and the side steps. The otd is 50,662.04. The msrp is 51,195.00. Please let me know if this is a good deal. This is my first lease transaction.
  • tom88888888tom88888888 Member Posts: 3
    I"m looking to lease an 08 with a sport and technology package. i"m looking for a 24 month lease. i'm a no cap reduction person. So if someone can provide the numbers: msrp, mf, residual rate i can figure the payment out. i'm a tier one credit person. thank you for your help in advance, tom
  • sleepysoosleepysoo Member Posts: 54
    you know, i ran it through my calculator, and it seems ok. It seems like your money factor is good, and they're not trying to stick it to you there. That residual seems a little low....if that's right, then your residual is 40% and that doesn't sound right....i think the residual should be somewhere in the 50 percentile. THe dealership should be able to give you those numbers. other than that, i'm not too sure...you might want to ask car_man!!! But, based on the numbers you gave me, it's good...i mean, i get a payment of $874.54 for 48 months (my tax rate is 7.75%)based on those numbers, but those numbers are so far off of your original numbers that either you're getting a good deal, or they're doing something funny....sorry i wasn't more help!!! I know that when I got my lease, i used my lease calculator and i got it down to within $1. So, i'm not sure...sorry!!!
  • ivanl3ivanl3 Member Posts: 30
    2008 MDX Base
    MSRP=$40,910
    Price paid : Invoice = $37,229 (includes destination)
    48 mo lease.
    15K Miles
    Residual = 51%
    Money Factory = .00260
    Monthly Payment = $536.26
    Due at signing = First Month ($536.25) + Acqusition Fee ($648.55 including Tax) + Tag Transfer, etc ($113.95) = $1298.76

    I could have gotten a lower MF (.00250) if I wanted to pay a security payment.

    No-one should pay more than invoice for the MDX right now.
  • tms0425tms0425 Member Posts: 13
    Just sealed the deal on an '07 (new) MDX with Sport/Tech package and a few accessories (cargo tray, mats, locks) slightly under invoice at 41,800, MSRP of 46,265. They were also $2k+ better on my trade than all the other deals at wholesale, so this is really a much lower price.

    MSRP $46,265 + free accessories
    Selling price $41,800
    Acquisition fee $595
    Cap cost $42,395
    36 months
    15k mi/yr
    Residual 51%
    Residual $23,595
    Money Factor .00174
    No cap reduction
    No security deposit
    No doc fee
    Payment $637 + tax

    We're very pleased with the deal considering out trade. Thanks to all on this board. Online intelligence is just the BEST for negotiating.

    Tom
  • ivanl3ivanl3 Member Posts: 30
    What was the invoice price on this vehicle?
  • tms0425tms0425 Member Posts: 13
    With destination charge, the invoice is $42,004. Tom
  • ivanl3ivanl3 Member Posts: 30
    Does the selling price include the value you got for the trade or are you putting that money in your pocket. If it does include the value of yor trade ($2K), the no, it is not a good deal. If if you are putting $2K in your pocket, then yes, it is a good deal. I am saying this assuming $2K is a fair price for your trade.
  • tms0425tms0425 Member Posts: 13
    I had a trade that was worth maybe $8300-8800. They gave me $11,000 cash, which I pocketed, so the lease was standalone at those figures (no money out of pocket other than the first payment). $595 acquisition fee was included in cap cost.
  • bill124bill124 Member Posts: 246
    It seems that some of you have access to 2008 invoice pricing. Can you let me know what invoice is for 2008 with tech and entertaiment (including destination)? Also, and I apologize for asking this here, but anyone in NYC area (NY, NJ, Conn.) getting close to invoice for other than base model?
  • ivanl3ivanl3 Member Posts: 30
    go to cars.com
  • kadmommykadmommy Member Posts: 10
    Why do I have a bulls eye on my forehead? I can never seem to get a decent deal. I've been dealing with a couple of different dealers (suburban Phila) for an '07 with tech/ent packages, and they're giving me the worst deals ever! I need one of you to negotiate this for me... The latest was $0 down and $724 a month for 36 months, 12,000 miles a year. There are lots of you getting great deal: where do you start? Do you start by negotiating a good price for the car or do you work your way up saying "this is how much I want to spend?" Help!
  • smanziano1smanziano1 Member Posts: 11
    what state do you live in ?
  • sleepysoosleepysoo Member Posts: 54
    This is what I did. (1) I e-mailed different dealerships and asked them for the the current residual values and the buy rate money factor. In your case, you need to ask for the money factor and resid value for the 007 tech/ent for 36 months 12k miles/year. (2) once you are sure about what the buy rate money factor, i e-mail the same dealerships and start negotiating from the price of the car. Usually, if you get the price right, the monthly payments work out. Just keep pitting dealerships against each other until you get the price you want (or are happy with). Also, check out these boards and other sites and what not to make sure that they are not getting any extra money incentives from Honda. Sometimes they will give the dealerships an extra couple thousands for unloading the 07's and so they'll easily give you the car for invoice...so, try to cut into that a little!

    I did this, and i got an 08 mdx tech for $600/month (that's including tax) with 0 down.

    oh yeah...one way i made sure i got the buy rate money factor was fibbing to a dealer. In September, i was told the money factor for the 07 mdx tech/36 month/12k was 0.00174. So, to make sure that this was the buy rate money factor, I called another dealership and said "you know...dealer A told me that 0.00154 was the buy rate money factor. i don't know if this is true or not, or if he's trying to stick to me somewhere else...but, my friend came here and had a pleasant experience, so I wanted to ask you guys..." and they basically told me that 0.00174 was the buy rate factor, and that other dealership was lying to me. It's a little sneaky, but i had to make sure!!

    There is a way to calculate to make sure the monthly payments they are quoting you are in line with the money factor, residual, and all that other good stuff. Let me know if you don't have it and want it!!

    Hope this helps!!!
  • ivanl3ivanl3 Member Posts: 30
    PA.
  • kadmommykadmommy Member Posts: 10
    Thanks, sleepysoo. If the dealers would call me back it would be a good start. They gave me the monthly payment. and when I asked for the residual and the money factor, it was the standard response "I'll have to go ask the finance manager and I'll get back to you." I'm waiting, not so patiently. where do you live? You're price is thousands better than the closest offer I've had. I had a quote of an '08 tech/ent, 3 years, 12K miles for $667 with $4k down. They also told me that the residuals and money factor are different for the tech/ent vs. the base. True? What's the current offer, do you know?
  • realestatemanrealestateman Member Posts: 5
    The best deal I could find in Seattle was $582/mo + tax on a 42 month lease, 12K annual, $3K down, cargo mats and cargo cover.

    I was surprised that www.fleetrates.com was only $20 cheaper on a 36 month lease and I had to pay about $600 for shipping from L.A.

    I also would like to know where anyone can get $600/mo including tax with $0.00 down unless it's the base model.

    Let us know, OK? I fly and drive it home from L.A. for fun if that's what it takes. :-)
  • realestatemanrealestateman Member Posts: 5
    By the way, the deal I was offered was on a 2008, but I was told that the 2007 was actually a worse deal because of the residual at this point.
  • smanziano1smanziano1 Member Posts: 11
    And you live in what State Again ? $600 a month with Zero down, including tax for a 2008 MDX with Tech package sounds like a dream deal...please pass along your information on the dealership and dealer name if possible....I am sure everyone is dieing to find out this information on this board.
  • smanziano1smanziano1 Member Posts: 11
    Anyone have info on the Residual and Money Factor rates for October. Acure 2008 MDX. Any rate info you have is fine, I dont care if its for 42 months, 36 months, etc... I just want to get an idea on what everyone on the board is seeing from there dealerships. thanks.
  • kadmommykadmommy Member Posts: 10
    I got this today from a dealer in PA.
    2007 Acura MDX - Tech Entertainment
    36 months - 53% - .001740
    42 months - 49% - .002600
    48 months - 43% - 002600

    2008 Acura MDX - Tech Entertainment
    36 months - 59% - 002800
    42 months - 54% - .002600
    48 months - 49% - .002600
  • sleepysoosleepysoo Member Posts: 54
    Hey Smanziano1 - I live in Southern CA. I bought with Cerritos Acura. It was a great deal. The reason it was so good was because I was haggling over the phone and e-mail with the 2007 MDX tech. But, when I got to the dealership, they didn't have my color (Gray with ebony). So, I told them that I was just going to go to another delaership that did have it in stock, and instead of losing my business, they just gave me an 08 instead in the same color.

    OOPS...forgot to mention: I paid $1500 out the door, and there was a $480 toward cap cost reduction. Otherwise, everything else i paid out the door was standard stuff. Still a pretty good deal i think!
  • sleepysoosleepysoo Member Posts: 54
    ok kadmommy here's my calculations:

    2007 MDX Tech/Ent: 36 months, 12k/year, 0 down: based on those numbers, your monthly payment should be around
    $602.68 (without tax...i left out tax because i don't know what your tax is there)....this number is based off of buying it at invoice. you should be able to get the 07's at invoice or lower right now.

    2008 MDX tech/ent: 36 months, 12k/year 0 down: based on thsoe numbers, your monthly payment should be around $609.55 (without tax)....this number is based off of buying it at invoice.

    These numbers aren't 100% accurate...but, using my lease calculator, I was able to get it within a couple dollars from the dealership.

    Let me know if you want me to run some other numbers for you!!!
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