I wish I could do the deal with you. I'm down to the '08s now because no one seems to have an '07 tech/ent except white (don't want white). My numbers are as follows: with an '08 tech/ent, $43,500 selling price, 36 mos, 12K miles, $0 k down, I'm hearing $770 a month incl. tax (6%). With $4k down payment goes to $641 including tax. This is a HUGE difference than your numbers. What's your formula?
well, i think that they're sticking it to you on the money factor. did you ask them what money factor they were using to get you those specific numbers? here's the formula i was given and have used.
(1) MSRP x Residual value (%) = Residual Value (RV) (2) [Cap Cost (what you're buying it for) - RV - Cap Cost Red (down payment)] / 36 (months you're leasing for) = lease payment amount (3) [Cap Cost + RV - Cap Cost Reduction] x Money factor = Finance payment amount (4) Lease payment amount + finance payment amount = amount you should be paying per month before taxes
Hope that helps!!! you know, it could be that in your area they don't discount as much as down here? I know that different areas sell at different prices!! but, the money factor and residuals should be the same throughout...because that's what Honda and the banks give out...
I guess I made a little mistake ealier and went into the wrong discussion room. I read a post by a CeeLee about Springfield Acura in NJ and after speaking with practically every dealership in NJ, and because my credit is bad, I've been getting the run around.
CeeLee said go and check out Springfield Acura in NJ for the best price and I did. I spoke to Calvin over there and told him that my credit is in the dumps, but he walked me through the entire lease process and I think I got a really good deal.
I got my Lease $1500 below MSRP and I was showed that if I was Super Preferred Credit, I would pay $660 with the dealer making only a $500 profit...I got $673 with strained credit when everybody else was telling me $715 to $735 for a Tech/Ent.
After reading other posts, this seems to be a pretty good deal.
I went down to Cerritos Acura and spoke to their sales manager Paul S. who said they never made a deal like this in all of September to anyone named Soo. Can you give me more detail so that I can have some leverage while I'm working the deal?
If you'd like to email me this information, my email is kimjuil@gmail.com
I have been in the market for a 08 MDX and I went to Cerritos and they stated that there was no one in September that purchased an 08 MDX at those numbers. Can you give me the name of the sales person you worked with and what day you made this purchase. If you can email me your name, that would be even better.
Hi Guys, I'm new here and just wanted to get your opinion on the lease rate that i got quoted from an independent leasing company in Brooklyn, NY.
2008 Acura MDX Base $510/month $2,818 total due out of pocket ($510 first month payment + $595 bank fee + $1,713 Tax at 9% for Pennsylvania where I'm moving)+ plates fees (around $230)
2008 Acura MDX Sport $670/month $3,296 Total out of pocket ($670 1st month payment + $595 bank fee + $2,031 Tax at 9%) + plates fee of around $230
Are these lease deals a good deal? Does anyone know where I can get a cheaper monthly payment in/around NYC? Also, to me it doesn't make sense to pay $160/month more for Sport package. What you guys think? Thanks to all, Mike P
PA tax is 6% not 9% so maybe ask about that. Also, is NY one of those states that charges the tax up front? I thought it was only Texas... maybe I'm mistaken. My quotes have included tax as a monthly add-on not a lump sum. Comparing the rates you mention as base rates (without monthly tax) I'd say they're comparable to what I'm hearing around PA.
6% does not apply to leases, so it's 9%. About the tax being paid upfront, it makes more sense since if you include the tax in the monthly payment you would also be paying a tax on the tax that you include in payments.
So today 10/16/07 i went to my nearest acura dealer, and i got these numbers... anyone please tell me if this is a good deal or if i should try to get something better
08 MDX Tech only. black/black
msrp. $44,510 selling $41,710
residual 59%
out o pocket costs for $1500.00 equity and doc feees and etc.
Down payment $0.00
36 month lease 15k a year =627.04 + 5% tx. =658.00
Don't know if you looked at my earlier posts but I shopped around for a long time and got pricing on all of the different MDX's and my guy at Springfield Acura in New Jersey beat that price for me on the Base model. Wifey and I settled on the Tech/Ent package though.
When we looked at the Base, just to see price difference, we got $3,000 down, 48 months, 15,000 miles, for under $500 a month. Our guys name is Calvin, you should give him a call. Tell him that I sent you LOL.
Got the lease done today. Will be picking up the car on Monday.
Here is the deal I got:
2007 Acura MDX with Sport Package (Brand New, Not a Demo)
36 months, 10K miles per year
$620/month including PA taxes of 9%
$1600 due at signing (1st month pmt, bank fee + tiltle and tags) The dealership also charges $200 Doc. fee which they said is the requirement for NJ. I don't think it's true, but the heck with it:) Is this a good deal?
I'm telling you something does not sound right with that deal :confuse:
Your getting a 2007 MDX Sport package, lease, 36 months, 10k miles with $1600 Down + $200 (Doc fee) for $620 a month. :surprise:
Again Run and Not Walk for that deal, because something is not right. Don't mean to rain on your parade, but a 2007 has a higher money factor (interest rate) and lower residual making for a worse deal than what you would get on a 2008.
Is it $1,600 down plus fees? Is there a 9% PA tax being added to your monthly payment of $620 making it more of a $680-690 payment?
out o pocket costs for $1500.00 equity and doc feees and etc.
Down payment $0.00
36 month lease 15k a year =627.04 + 5% tx. =658.00 ...... and i just finalized on the deal now. and i got it for $637.00 a month INCLUDING TAX....... DID I GET SCREWED OR AM I SAFE???????????????????????????
They wanna get rid of the last 2007 Sport they have on the lot, plus it's the end of the month and the guy needs a sale to add to his commission. Plus, I don't know the selling price of the car, nor the exact residual and money factor he used, but the guy has put the deal in writing to me and I will get all the figures tomorrow just to be sure.
I have the purchase order from the dealer with all the numbers stated correctly: 36 months, 10K/year, $1,600 upfront (includes: $620 1st month' payment, $595 bank fee, PA DMV fees and dealer doc. fees) PA tax of 9% is included in the monthly payment.
I have double checked with the dealer and he confirmed everything is ok. He also told me that there will be no additional fees, taxes or any other payments added to the deal.
sounds pretty decent. where are you from? i'm in socal and i got the exact same car (but different color), and i got it for $600/month (that's including a 7.75% tax). oops...i'm also doing 12k/year in miles. but otherwise, i had the same $1500 out of pocket..and only $480 of that went towards cap cost red. all the other stuff was bank fees, doc fees, taxes, etc. actually, i guess we have two completely deals. anyways, just wanted to put my input in! but, they sold the car to me for $40,695 ($40,100 + $595 acq. fee..or something like that). But, i know that they won't do that deal anymore...i've had a couple friends try.
but, more importantly, are you happy? does this payment make you happy? as long as you're happy, you got a good deal. if you're not happy, shop around! good luck! it's a beautiful/awesome/kick butt car!!
i just started looking for the mdx for 2008 - can u tell me which state you are located ? I am in NJ - if you are close i would appreciate letting me know the dealer u went to
I leased my MDX through DCH Montclaire Acura in Verona, NJ The guy's name is Pat Danyo, mention to him that Gene Krasko has leased an MDX through him on 10/22/2007. He is a very nice guy with no bull. He gave me the best deal out of like 40 dealers that I called to.
These are just some of the reason why it does not add up:
1) I've looked all up and down this site and other blogs and on a 2007 Sport your just not getting a $620 a month payment...that's a Tech price and,
2) I called my guy over at Springfield Acura and gave him all of the numbers that you quoted and he tells me that even on a 2007, unless its used, a dealers price, making no money is $652 a month. The Dealer is losing $32 a month on your deal...more than $1000 behind invoice. Why would a dealer go that much into the hole? Even if it is their last one, a dealer isn't taking a loss like that when the next guy is going to come in and pay at least invoice.
And we have email addresses right here on carspace, I'm manthony33@carspace.com
Thanks again, I want to see how they gave you that price and then raise bloody heck about my pricing on a Tech/Ent.
Query: Your Sport was brand new and not a managers demo, or your not related to the owners of the dealership, or you didn't have a trade or anything like that?
I'll e-mail you the copy tomorrow. The Cap Cost was $41,307 Buy price at end of lease term: $24,985 Monthly payment without the PA 9% tax: $568 ($620 w/tax)
The car was brand new with 12 miles on the odometer and I'm not related with anybody at the dealership. I found them by searching for the nearest Acura dealers on Acura's website.
I don't know which part of the country you are in, but in North East you can surely get a better deal. I was quoted an 07 MDX Tech for $594 including 9% PA taxes about 2 weeks ago. I opted for a Sport package for $620/month and that's for a new car, not a demo. I mean, if you look at previous posts above, I got a better Cap Cost on a new Sport than you're getting on a Demo Tech. Shop around and you will succeed.
I am just starting to look at the MDX and lease options. I have a 2004 Murano lease that doesn't end until March, but I am doing the research and would consider getting our early if it looks worthwhile.
First visit to an NJ dealer got me the following ref: quote:
Of course he left out some details, but I assume this price includes NJ Taxes avergaged into the lease. No Down Payment on the lease, just inception fees.
This actually seems high to me on the lease price given the supposed sale cost and I am unsure how to calculate the MF/Residual numbers.
just got back from the dealer - here are the numbers - i would greatly appreciate any opinions on how fair a deal this is...
Got the MDX Tech for $400 under invoice - extras included are roof rack with cross bars, cargo cover and running board...
out of pocket = 1st month payment, Doc fees $189, 4 year motor vehicle reg for NJ = $354, bank fee $595 = total out of pocket of $1816
Monthly payment including sales tax = $678 with 22,000 miles/year for 42 month lease ...so if it were a base 15K mile/year lease the monthly would be approximately $602/month....
the killer is always the add'l mileage for me but i was able to get the extra mileage at a rate of 10 cents per mile...
i called 2 other dealers and they could not come close to this deal but who knows ??
any opinions would be greatly appreciated - the truck should be ready for pick up later this week so i can still cancel if this deal is too expensive compared to others on this board...
Hi dannj This seems like a very good deal for an 08 Tech pkg. I've just talked to a dealer in NJ yesterday and their pricing was way hogher. Cd you pls tell me which dealer you are working with? Tx
Congratulations on getting your new MDX, fadetoblack1. Thanks for taking the time to stop back and share the details of your lease with everyone. Real-world examples of leases are always helpful to others who are in the market for similar vehicles. 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. Enjoy your new ride :shades: .
Car_man Host Prices Paid: Buying & Leasing Experiences Forum
Hello tuscany2007. The dealer invoice price of the MDX that you are interested in is $40,400. That puts the selling price that you were quoted at around $1,300 over invoice. This isn't terrible, 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 by a few hundred dollars. Make sure to stop by the "Acura MDX Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar trucks lately.
Once you arrive at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using its buy rate lease money factor. Through October 31st, Honda Finance's buy rate for a 36 month lease of a 2008 Acura MDX is .00275 for "Super Preferred" tier customers who pay a security deposit at lease signing.
Car_man Host Prices Paid: Buying & Leasing Experiences Forum
Hi jgura. Chances are that you are not going to be able to get out of your Murano lease several months early without having to pay a decent chunk of change. You will probably be better off waiting until March to lease a new vehicle now. It definitely doesn't hurt to research your next vehicle in advance. Even though Acura's lease program on the MDX will be different when you are ready to lease, at least you will have a rough idea of how much you will have to pay.
If I was in the market for a 2008 Acura MDX in a part of the country that has a good level of competition, like the New York area, I personally would shoot for a selling price of $500 to $1,000 over dealer invoice. The price that you were quoted for this MDX looks a little higher than that. you can look up its exact dealer invoice price by visiting the New Vehicle Pricing section of Edmunds.com.
Once you have a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using Honda Finance's buy rate lease money factor. You don't need to calculate money factors and residual values, banks set them. Its buy rate for 36 month leases is currently .00275 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The buy rate for a 42 month lease is .00250.
Car_man Host Prices Paid: Buying & Leasing Experiences Forum
Hey dannj. $400 under dealer invoice is an excellent selling price for a 2008 Acura MDX. Just make sure that the dealer is using a money factor of .00275 (for "Super Preferred" tier customers who pay a security deposit) to calculate your monthly payment and you're all set.
Car_man Host Prices Paid: Buying & Leasing Experiences Forum
I have negotiated the final price for a 2008 MDX w/Tech. However, I want to make sure when I go to sign the papers, I am being charged properly. What should my monthly lease payment be for 12,000 miles, a residual of 59 percent and a .00247 money factor. I think tax is 7 percent, however, I am unsure.
Final cap cost: $39,900 Doc Fee (VA): $ 299 Aquisition Fee: $ 595 Registration $ 141
Please let me know your results on the Lease price. I am also looking at the same car and once I get a price from my dealer I would like to compare it to yours. Thanks.
How do I find out what the current money factors are from Honda Finance. I'm looking at 42 and 48 month leases and expect to get a prefered rate as I have been leasing from Honda for the past 8 years.
Hello guys! I am considering switching from my FX-35 to a larger vehicle as my wife is due to give birth to our second child in Jan. We are considering the MDX, Escalade, Yukon SLT2, Denali, QX56 and Audi Q7. My favorite is prob Escalade followed by Denali then MDX. I am concerned however about reliability of vehicles and gas mileage. If diff between Denail/'clade and MDX is liek avg 15 mpg v 18mpg then i dont care. But if its liek 10-12mpg vs 18 then its harder for me to justify the extra expense of truck and gas and would lean to MDX. Any thoughts? Curious about diff in monthly lease rates (0 down, everything in paymt, 12k, 36 mos, leather, power liftgate). What is extra monthly cost for dvd/nav? Which one would you pick and any idea as to diff in leae prices? Thanks for any advice!!!
Here's my lease deal on an 08 MDX with Tech Package
MSRP= $44,410
Negotiated price = $ 41,550
15k/yr
36 month lease
MF=.00247
Residual= 57%
Plus tags title and reg I had to take care of also about $200
Monthly payments with 0 down equal $655.89 with $885.89 due at signing includes first month payment, no tax for me since i'm in Oregon. Let me know what you guys think.
Your numbers might be correct but I still can't justify paying 650$/month to a 40K car. Porsche has a lease deal for a reasonably equipped cayenne for 650$. I personally think Acura still didn't roll out an attractive lease offer.
A friend of mine leased a x3 which was 47K car with 1800 out of pocket 450 a month. I'm a big fan of the new mdx and might be getting one soon but still not 100% comfortable with the leasing option. money factro equates to 5.9 % which is too high for my standards. 2400$ just interest first year.
But don't listen to me. Most important thing is how you feel about the car. If you really like it, it's worth every penny.
I went to the dealership looking to lease and Acura MDX Tech with DVD entertainment package. I have two cars that I want to trade in that I am paying for. Here is what they told me they would give me for my cars:
As you can see I have close to 9,000.00 dollars in negative equity. The salesman did a credit check and we were way above average (over 700 on credit. He comes back stating that since we were in the negative that we were looking at a 2000.00 down payment with an 1100.00 a month payment for 36months. I almost choked!!!. I'm not a car salesman guru, but I now something was not write. Can anyone help me.
Sorry to all for not replying before but here it is... here are the numbers i got...
2008 MDX Tech
42 month lease at $690 per month including sales tax... 22,000 miles per year $1200 out of pocket at inception including 1st month payment Full roof rack, running boards, mats etc
I dealt with Springfield Acura in Springfield NJ thru Calvin Moore who was great to deal with...
Just to let you know the same basic deal was offered by Wayne NJ Acura within a few dollars per month more.
Obviously they are trying to roll all of the excess costs into your lease and with them telling you of 9K difference in a 36mth lease that will come out to at least $265/mth or $282 if they tax it (that is using the Super Preffered MF).
Anyway, a huge mistake to do it.
If you want to calculate what your cars should be worth, use GALVES.COM. This is the sight that most dealers use for estimating value of a used car and trade-in costs. If the numbers you find there are close to what they are telling you, then there is probably not much you can do. If you are leasing the other cars, then you should wait them out. If not try and sell privately..
How much do they want down on that Cayenne though? Also, with BMW, they control the lease market with mid 60% residuals for 36 mo. terms and MF's hovering around .00155 (3.72%).
It appears that Acura has strong residuals, but only average MF's right now and that is why you are seeing higer lease payments.
Comments
(1) MSRP x Residual value (%) = Residual Value (RV)
(2) [Cap Cost (what you're buying it for) - RV - Cap Cost Red (down payment)] / 36 (months you're leasing for) = lease payment amount
(3) [Cap Cost + RV - Cap Cost Reduction] x Money factor = Finance payment amount
(4) Lease payment amount + finance payment amount = amount you should be paying per month before taxes
Hope that helps!!! you know, it could be that in your area they don't discount as much as down here? I know that different areas sell at different prices!! but, the money factor and residuals should be the same throughout...because that's what Honda and the banks give out...
CeeLee said go and check out Springfield Acura in NJ for the best price and I did. I spoke to Calvin over there and told him that my credit is in the dumps, but he walked me through the entire lease process and I think I got a really good deal.
I got my Lease $1500 below MSRP and I was showed that if I was Super Preferred Credit, I would pay $660 with the dealer making only a $500 profit...I got $673 with strained credit when everybody else was telling me $715 to $735 for a Tech/Ent.
After reading other posts, this seems to be a pretty good deal.
I went down to Cerritos Acura and spoke to their sales manager Paul S. who said they never made a deal like this in all of September to anyone named Soo. Can you give me more detail so that I can have some leverage while I'm working the deal?
If you'd like to email me this information, my email is kimjuil@gmail.com
Thanks!
I have been in the market for a 08 MDX and I went to Cerritos and they stated that there was no one in September that purchased an 08 MDX at those numbers. Can you give me the name of the sales person you worked with and what day you made this purchase. If you can email me your name, that would be even better.
Please email details to kimjuil@gmail.com
MSRP=$44,410
Cap Cost=$41,975
$0 down, $1,006.19 drive offs ($615.95 1st month payment, $8.75 tire fee, $333 registration, $45 doc prep, $3.49 sales tax on doc fee)
42 months / 10,000 miles per year
$0 security deposit, no turn in fees
60% residual
.0026 money factor (Honda Finance's best rate)
Monthly payment $615.95 ($571.65 base + $44.30 tax)
I hope this helps, and thank you to everyone before me for the help.
Thanks for posting the MF and Residual figures.. this helps alot!
I'm new here and just wanted to get your opinion on the lease rate that i got quoted from an independent leasing company in Brooklyn, NY.
2008 Acura MDX Base
$510/month
$2,818 total due out of pocket ($510 first month payment + $595 bank fee + $1,713 Tax at 9% for Pennsylvania where I'm moving)+ plates fees (around $230)
2008 Acura MDX Sport
$670/month
$3,296 Total out of pocket ($670 1st month payment + $595 bank fee + $2,031 Tax at 9%) + plates fee of around $230
Are these lease deals a good deal? Does anyone know where I can get a cheaper monthly payment in/around NYC?
Also, to me it doesn't make sense to pay $160/month more for Sport package. What you guys think?
Thanks to all,
Mike P
08 MDX Tech only. black/black
msrp. $44,510
selling $41,710
residual 59%
out o pocket
costs for $1500.00
equity and
doc feees and etc.
Down payment $0.00
36 month lease
15k a year =627.04 + 5% tx. =658.00
IS THIS A GOOD DEAL???
Thanks....
Don't know if you looked at my earlier posts but I shopped around for a long time and got pricing on all of the different MDX's and my guy at Springfield Acura in New Jersey beat that price for me on the Base model. Wifey and I settled on the Tech/Ent package though.
When we looked at the Base, just to see price difference, we got $3,000 down, 48 months, 15,000 miles, for under $500 a month. Our guys name is Calvin, you should give him a call. Tell him that I sent you LOL.
Here is the deal I got:
2007 Acura MDX with Sport Package (Brand New, Not a Demo)
36 months, 10K miles per year
$620/month including PA taxes of 9%
$1600 due at signing (1st month pmt, bank fee + tiltle and tags)
The dealership also charges $200 Doc. fee which they said is the requirement for NJ. I don't think it's true, but the heck with it:)
Is this a good deal?
Thanks, Gene K
Your getting a 2007 MDX Sport package, lease, 36 months, 10k miles with $1600 Down + $200 (Doc fee) for $620 a month. :surprise:
Again Run and Not Walk for that deal, because something is not right. Don't mean to rain on your parade, but a 2007 has a higher money factor (interest rate) and lower residual making for a worse deal than what you would get on a 2008.
Is it $1,600 down plus fees? Is there a 9% PA tax being added to your monthly payment of $620 making it more of a $680-690 payment?
msrp. $44,510
selling $41,710
residual 59%
out o pocket
costs for $1500.00
equity and
doc feees and etc.
Down payment $0.00
36 month lease
15k a year =627.04 + 5% tx. =658.00 ...... and i just finalized on the deal now. and i got it for $637.00 a month INCLUDING TAX....... DID I GET SCREWED OR AM I SAFE???????????????????????????
They wanna get rid of the last 2007 Sport they have on the lot, plus it's the end of the month and the guy needs a sale to add to his commission. Plus, I don't know the selling price of the car, nor the exact residual and money factor he used, but the guy has put the deal in writing to me and I will get all the figures tomorrow just to be sure.
I have the purchase order from the dealer with all the numbers stated correctly:
36 months, 10K/year, $1,600 upfront (includes: $620 1st month' payment, $595 bank fee, PA DMV fees and dealer doc. fees)
PA tax of 9% is included in the monthly payment.
I have double checked with the dealer and he confirmed everything is ok. He also told me that there will be no additional fees, taxes or any other payments added to the deal.
but, more importantly, are you happy? does this payment make you happy? as long as you're happy, you got a good deal. if you're not happy, shop around! good luck! it's a beautiful/awesome/kick butt car!!
thanks
I leased my MDX through DCH Montclaire Acura in Verona, NJ
The guy's name is Pat Danyo, mention to him that Gene Krasko has leased an MDX through him on 10/22/2007. He is a very nice guy with no bull. He gave me the best deal out of like 40 dealers that I called to.
1) I've looked all up and down this site and other blogs and on a 2007 Sport your just not getting a $620 a month payment...that's a Tech price and,
2) I called my guy over at Springfield Acura and gave him all of the numbers that you quoted and he tells me that even on a 2007, unless its used, a dealers price, making no money is $652 a month. The Dealer is losing $32 a month on your deal...more than $1000 behind invoice. Why would a dealer go that much into the hole? Even if it is their last one, a dealer isn't taking a loss like that when the next guy is going to come in and pay at least invoice.
And we have email addresses right here on carspace, I'm manthony33@carspace.com
Thanks again, I want to see how they gave you that price and then raise bloody heck about my pricing on a Tech/Ent.
Query: Your Sport was brand new and not a managers demo, or your not related to the owners of the dealership, or you didn't have a trade or anything like that?
The Cap Cost was $41,307
Buy price at end of lease term: $24,985
Monthly payment without the PA 9% tax: $568 ($620 w/tax)
The car was brand new with 12 miles on the odometer and I'm not related with anybody at the dealership. I found them by searching for the nearest Acura dealers on Acura's website.
MSRP: $46,265.00
Gross Capitalized Cost: $41,307.77
Residual Value: $24,983.10
Depreciation and any Amortized Amounts: $16,324.67
Rent Charge: $4,152.49
Total of Base Payments: $20,477.16
Lease Payments: 36
Base Monthly/Single Payment: $568.81
Monthly Sales/Use Tax: $51.19
Total Monthly/Single Payment: $620.00
$.20 per mile in excess of 10,000 miles per year
2007 Black MDX w/ Tech Package 5,000 mile demo
Selling Price: $39,482.00
6.5% Up-front sales tax: $1,344.33
Capitalized Cost: $41,421.33
Vehicle MSRP: $44,165
Total Residual Value: $23,369.10
Money Factor: .001740
Monthly Payment: $614.19
First Payment: $664.19 (includes $50 license, title and document fee)
Thanks for any thoughts on this deal.
It's for a 12,000 mile, 36 month lease
I opted for a Sport package for $620/month and that's for a new car, not a demo. I mean, if you look at previous posts above, I got a better Cap Cost on a new Sport than you're getting on a Demo Tech. Shop around and you will succeed.
I am just starting to look at the MDX and lease options. I have a 2004 Murano lease that doesn't end until March, but I am doing the research and would consider getting our early if it looks worthwhile.
First visit to an NJ dealer got me the following ref: quote:
2008 Tech (with Running Boards)
Price: $42500
MF: .0028 (36 Mths) .0026 (42 mths)
Residual: 62% (36) 57% (42)
Lease: $667 (36) $638 (42)
Of course he left out some details, but I assume this price includes NJ Taxes avergaged into the lease.
No Down Payment on the lease, just inception fees.
This actually seems high to me on the lease price given the supposed sale cost and I am unsure how to calculate the MF/Residual numbers.
Comments/Suggestions appreciated.
Got the MDX Tech for $400 under invoice - extras included are roof rack with cross bars, cargo cover and running board...
out of pocket = 1st month payment, Doc fees $189, 4 year motor vehicle reg for NJ = $354, bank fee $595 = total out of pocket of $1816
Monthly payment including sales tax = $678 with 22,000 miles/year for 42 month lease ...so if it were a base 15K mile/year lease the monthly would be approximately $602/month....
the killer is always the add'l mileage for me but i was able to get the extra mileage at a rate of 10 cents per mile...
i called 2 other dealers and they could not come close to this deal but who knows ??
any opinions would be greatly appreciated - the truck should be ready for pick up later this week so i can still cancel if this deal is too expensive compared to others on this board...
thanks in advance
This seems like a very good deal for an 08 Tech pkg. I've just talked to a dealer in NJ yesterday and their pricing was way hogher. Cd you pls tell me which dealer you are working with? Tx
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Once you arrive at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using its buy rate lease money factor. Through October 31st, Honda Finance's buy rate for a 36 month lease of a 2008 Acura MDX is .00275 for "Super Preferred" tier customers who pay a security deposit at lease signing.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
If I was in the market for a 2008 Acura MDX in a part of the country that has a good level of competition, like the New York area, I personally would shoot for a selling price of $500 to $1,000 over dealer invoice. The price that you were quoted for this MDX looks a little higher than that. you can look up its exact dealer invoice price by visiting the New Vehicle Pricing section of Edmunds.com.
Once you have a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using Honda Finance's buy rate lease money factor. You don't need to calculate money factors and residual values, banks set them. Its buy rate for 36 month leases is currently .00275 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The buy rate for a 42 month lease is .00250.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Are people able to negotiate the Cap Cost price below invoice? Is there a special dealer holdback this month?
I have negotiated the final price for a 2008 MDX w/Tech. However, I want to make sure when I go to sign the papers, I am being charged properly. What should my monthly lease payment be for 12,000 miles, a residual of 59 percent and a .00247 money factor. I think tax is 7 percent, however, I am unsure.
Final cap cost: $39,900
Doc Fee (VA): $ 299
Aquisition Fee: $ 595
Registration $ 141
Thanks.
How do I find out what the current money factors are from Honda Finance. I'm looking at 42 and 48 month leases and expect to get a prefered rate as I have been leasing from Honda for the past 8 years.
MSRP= $44,410
Negotiated price = $ 41,550
15k/yr
36 month lease
MF=.00247
Residual= 57%
Plus tags title and reg I had to take care of also about $200
Monthly payments with 0 down equal $655.89 with $885.89 due at signing includes first month payment, no tax for me since i'm in Oregon. Let me know what you guys think.
A friend of mine leased a x3 which was 47K car with 1800 out of pocket 450 a month. I'm a big fan of the new mdx and might be getting one soon but still not 100% comfortable with the leasing option. money factro equates to 5.9 % which is too high for my standards. 2400$ just interest first year.
But don't listen to me. Most important thing is how you feel about the car. If you really like it, it's worth every penny.
I went to the dealership looking to lease and Acura MDX Tech with DVD entertainment package. I have two cars that I want to trade in that I am paying for. Here is what they told me they would give me for my cars:
2005 Honda Accord LE/Owe:15,306.97/Dealer quote: 12,500.00
2007 Dodge Caliber/Owe: 17,436.38/Dealer qoute: 10,500
As you can see I have close to 9,000.00 dollars in negative equity. The salesman did a credit check and we were way above average (over 700
Erica
here are the numbers i got...
2008 MDX Tech
42 month lease at $690 per month including sales tax...
22,000 miles per year
$1200 out of pocket at inception including 1st month payment
Full roof rack, running boards, mats etc
I dealt with Springfield Acura in Springfield NJ thru Calvin Moore who was great to deal with...
Just to let you know the same basic deal was offered by Wayne NJ Acura within a few dollars per month more.
What does everyone think?
Obviously they are trying to roll all of the excess costs into your lease and with them telling you of 9K difference in a 36mth lease that will come out to at least $265/mth or $282 if they tax it (that is using the Super Preffered MF).
Anyway, a huge mistake to do it.
If you want to calculate what your cars should be worth, use GALVES.COM. This is the sight that most dealers use for estimating value of a used car and trade-in costs. If the numbers you find there are close to what they are telling you, then there is probably not much you can do.
If you are leasing the other cars, then you should wait them out. If not try and sell privately..
Good Luck
i.e. $ 499 per month
$2999 (includes first months payment, security deposit, aquisition fee and cap cost reduction) - plus sales tax, title, registration, doc fees.
10 K Miles per year
Are these factory deals usually further negotiable? and if so to what extent have people been able to negotiate on these deals?
Thank You
It appears that Acura has strong residuals, but only average MF's right now and that is why you are seeing higer lease payments.