2013 and earlier-Acura MDX Lease Questions

mmdad_ny

My wife and I are interested in an '08 with Tech and Ent packages. I understand that the MF has improved to .00214 for up to 36 months (For which I am sure that I qualify). Has the residual changed from 57% also?

What would the MF and Residual % be for the same model but 48 months.

Also, I am assuming that all of the above numbers include 12K mileage? Do they change by switching to 10K? By how much?

I know, a lot of ?s, but thanks for your help.

zanml

As of last night sitting down with a dealer in central NJ. The Tech and Ent package has the residual of 55%, the Sport and Ent is at 53%. The slight improvement in the MF is being erased by the drop in the residual. The quote that I got for the above packages was $44,800 and 43,000 without the aftermarkets. One should be able to do a bit better then that.

carmvn

I have been quoted $2500 down includes taxes, bank fees, first pmt., all other out of pocket upfront charges and $500 a month for 36 months on a $40,395 MSRP Acura MDX. Can you tell me if this is a good deal?

Thanks

ysauto

So what is the best deal at this time in NY?
Price of the Tech MDX at about 44K
What should a 36 months lease payment be?

mmdad_ny

Thanks for the info. Was this for 12K or 10K mileage? Also, what do you mean by aftermarkets and which dealer in central NJ? Have money, will travel! Thanks again.

zanml

This was for 12K/36 months. By aftermarkets I mean any additional option/accessory that you want (i.e., roof rack, running boards, etc.) to install is extra. You have to add that to the negotiated price of the vehicle. This figure will be used to calculate the lease payment. The reason for this is simply because this additional amount does not get residualized. Only the negotiated price of the car (whatever package you prefer). Like I stated earlier, 53% for Sport-Tech-Ent and 55% for Tech-Ent.
The Dealer is in Lawrenceville, NJ. Precision Acura, Rt 1 south (past Princeton area).
Hope this helps.

zanml

Does anyone have the latest invoice price for '08 Tech/Ent? I've been estimating it by taking 9% off the MSRP.

zanml

A dealer is giving me a lease figure of $722/month. When I run the numbers myself I get $714. I've used three different lease calculators, I've even put the formulas into a spreadsheet myself and I still get $714. Assuming that all the major data components (i.e., msrp, final price residual, etc.) are the same, does anyone know if there's another additional cost dealers use of is he just screwing with me?
Carman, are you familiar with this?
Thanks.

zanml

OK. I figured it out and confirmed with the dealer. The way the dealer/bank calculates the lease payment is the cap cost reduction figure ($1500 in this case) does not get applied to the negotiated price. Instead, this number gets divided by 36 (term of lease) and the result is subtracted from your monthly lease payment. Using this method, the bank makes a few dollars more on you per month. The bottom line, unless you're on a very strict monthly budget, it makes absolutely no sense to put any money down on a lease. Keep it and let it earn interest, if nothing less. Just my .02

kyfdx

Nope... it doesn't work that way...

If you put $1500 down, it comes right off the negotiated price (CAP cost)..

Your dealer is full of it..

But, you still came to the correct conclusion... CAP cost reductions on leases are usually a bad idea.. $1500 isn't a lot, but if your car is totaled or stolen early in the lease, it is money that you won't get back.. If you only have your car 3-4 months, and something bad happens, that will make for one pricy 4 month lease.

regards,
kyfdx
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josephd05

Ok, so I'm just starting now to look into lease prices for this bad boy. I went to carsdirect.com to see what kind of price they can get. They quote out 41,5k i believe, whichi is 1500 over invoice. Seems high to me. In any case, I plan on putting 1500 TOTAL down max. Carman, do you think it's possible to get a montly payment below 575 on a 3 year 45k mile lease?

albert1900

Currently negotiating for a Sport Package. No add ons. No cap reduction.
MSRP= $46,510
Cap cost $42,807 + $595 acq fee = $43,402 grs cap cost
Residual value @ 53% = $24,650.30
MF= .00214
Govt fees=$65
Taxes (NM) = $1215.35
Doc (dealer) Fee = $225
15K mi/yr
Monthly base payment $666.51 + NM tax (5%) @33.33 = $699.84
Due on del= $1005.31. (lst pay $699.84 + sls tax upfnt $15.47 + 1st yr fees? $65.00 + dealer fee listed above $225)
I have searched six southwest and mid-west states and this is the best I can do. Sport seems to be scarce and dealers are pricing accordingly. Car in question is to be built next week as part of dealer's allocation and delivered by second week Feb.

Other than $225 dealer fee on which they are firm, does this deal look ok?

albert1900

Just want to clarify my cap cost in previous posting #882.
$42,807= invoice @ $41,592 + dest @ $715 + $500 dealer profit.

chrism124

Based on reading the earlier posts, the m.f. on a 08 MDX is .00214. What is the residual based on 36 months @ 12k miles. I would be looking at the Sport/Ent model.

Thanks,
NHman

jsw24

Hi guys and gals, I've been reading the post here and therefore it's allowed me to negotiate like a pro I'm in the market for the 08 touareg V6 with tech package(navi, cam, aux port, etc..) or 08 MDX Tech package. I've been dealing with 5 SoCal dealers. Which has lead me to my current quote of...

08 Touareg 2 v6 tech package:
MSRP-$43,350
CAPCOST-39,350(Includes destination fee,and all drive off fees except DMV)

Monthly payment tax included- 12kmi- $543 at 15kmi-$561

Now my only gripe is the lack of bi-xenon headlamps. Which are included in the lux package. I will call them today and mention it as a deal breaker if he cant work that into this current quote without much changing. Simply because I have another deal in the works for a MDX with tech package. Heres the deal on that one:

08 MDX Tech package:
MSRP:$43,695
Capcost: 39,750(includes destination)
drive off-$1015.77(doc fee, first month, etc..)
monthlypayments tax included: 12kmi- $601 15kmi-$626

Which one would you guys go for?? Thats part of the delimma!

sleepysoo

MDX all the way! i have friends who have had the touareg and hated it. they said they had to take it into the dealership to get fixed way to many times.

good deal on the tech! i have a tech also. your payments for the Tech look great! the numbers look exactly like minne did...so, i know you got a great deal! where did you get your quote from (if you don't mind me asking). I got my tech from cerritos acura.

but, i would go with the mdx...but, i'm wayyyy biased!

stevebo55

All,
How does this sound? 08 MDX Tech w/ no options in SOCAL

A 36 month Lease with 12k miles a year. Total down would be $997.49. first months payment and fees
MSRP= $44,410
Total Cap cost $40,152
Residual value 57% = $25,313.70
MF= .00214
Govt fees= $334.75
Taxes = $1593.97
Doc (dealer) Fee = $45.00

Thanks in advance.

sleepysoo

what's the monthly payment they're asking from you? if you can, you shouldn't put anything down on a lease! sounds pretty similar to my deal...i got mine at cerritos acura...where did you get your quote from?

stevebo55

My lease payment will be around $615/month. How about yours?

pat

Cousinvinny4 please check your email.

sleepysoo

i don't know...somehow your numbers aren't coming out right on my lease calculator. mine is $600/month and that's including tax (i also put $480 towards cap cost..aka. down payment). i hate $1500 out of pocket which included that $480 cap cost reduction, first month payment, and fees. what is that tax amount that you're paying? if you're leasing, you shouldn't be paying that...that tax gets added on to your monthly...just like a sales tax. that's funky!!

stevebo55

He did say something about a dealer acquisition fee of almost 600. As if this was normal and standard.

jun2

Hi, my BMW 2005 325i silver with preimum package and auto trans is ending soon in mid May 2008.
currently, I am paying 479/mth, my down payment was $1,000 for this 36month lease. Residual value is 21,999.
If I intend to buy this car, is this Residual Value (buyout) a good price?
I am thinking of negotiating it down, will BMW Finance Service let the price drop?
What would be the best price to buy this car?
I am in New Jersey.
Thanks for the info!

vsaxena

wrong thread. BMWFS will negotiate with you. You will have to go through a dealer who can buy it at a discount from BMWFS and then sell it back to you.

mmdad_ny

Could someone please post the current Money Factors and Residual Values for the 2008 MDX Tech/Ent for 12K miles for 36 and 48 month leases. I'm in the final leg of the race and want to keep the salesman honest.

Thanks.

rdsport323

Is it possible to get a lease on a new 08 Acura MDX with no $ down? My parents are looking into leasing an MDX after their current Lexus GX470 lease is due in March but, so far we have only been quoted high monthly payment leases along with money down at signing.

They are against having to put any money down, since they weren't required to do so when they leased 2 different GX470s. Anyone in So. Cali know of any dealers wiling to negotiate a 15,000/mi 3 year lease with no money down?

thanks

CarMan@Edmunds

Hi albert1900. The money factor that you were quoted is right in line with Honda Finance's current buy rate for the 2008 MDX. I believe that the dealer invoice price of the MDX that you are interested in is $42,307. That puts the selling price that you were quoted at a little over $1,000 over invoice. This isn't bad, but there's still some room there. If you have shopped around with several dealers and this is the best price, then this may just be the going rate for this truck in your area. Still, it wouldn't hurt to stop by the "Acura MDX Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar vehicles lately.

Car_man
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CarMan@Edmunds

Ahhh, thanks for the clarification albert1900. $500 over dealer invoice is much better than $1,000 over. I don't think that you are going to be able to do much better than $500 over on an '08 MDX right now.

Car_man
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CarMan@Edmunds

Hi NHman. The money factor that you mentioned is correct. Honda Finance's current residual value for a 36 month lease of a 2008 Acura MDX with the Sport and Entertainment Packages with 12,000 miles per year is 53%.

Car_man
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CarMan@Edmunds

Stevebo55, Honda Finance charges an acquisition fee of $595 on every vehicle that it leases. Individual dealers cannot waive this charge. You can either pay it at lease signing or add it to your vehicle's capitalized cost to bake it into its monthly payment.

Car_man
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CarMan@Edmunds

Greetings mmdad_ny. 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 with 12,000 miles per year are .00214 and 55%, respectively. The numbers for an otherwise identical 48 month lease are .00230 and 45%.

Car_man
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CarMan@Edmunds

Welcome rdsport323. Yes, it is absolutely possible to lease a new Acura MDX without making a down payment. In fact, it is in your best interest not to make one. I always advise consumers not to make capitalized cost reductions on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.

At lease signing, consumers who lease through Honda Finance are required to pay any capitalized cost reduction that they choose to make (this should be $0), Honda Finance's $595 acquisition fee, a security deposit equivalent to their vehicle's monthly payment rounded up to the nearest $25 increment, and any required state taxes or fees. Honda Finance will waive its security deposit requirement in exchange for an increase of .00010 in the money factor that is used to calculate your vehicle's monthly payment. You should be able to roll the acquisition fee and any other taxes and fees into your vehicle's capitalized cost to bake it into your monthly payment.

Car_man
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jmpage2

Car_Man,

What's the current residual and MF for a 36 month, 36,000 mile lease on the MDX Tech?

Thanks!

maries15

Just signed a lease deal for an '08 MDX no tech 36mo/12k.

MSRP = $40910
Cap Cost = $36785

$360.00 out of pocket at signing

$551/mo

I am in NJ.

Car_Man.... did I get a good deal?

court123

Carman,

Can you also provide the latest #'s for a MDX base model with a 15K/Yr lease, 36 months ? I am looking to buy this week. Thanks...

caseydog1

Does a 4 year lease on a base MDX make any sense? I have heard you shouldn't go beyond 3 years- any thoughts?

s4lvr1

I am a current AHF Leassee with an 05 MDX, looking at getting into a new 08 MDX. Is there a Super Preferred Money Factor rate out there? I had heard from one dealer that it is around .00045 which is less than 1% APR. Is this an option and how do I find out more?

ursamajor1

CarMan may know differently, but based on the discussions here and my chat with the Acura dealer when I test drove the MDX, RDX and TL today (MDX wins), .00045 is only available on the TL (and maybe TSX?). The RDX has a money factor of .0009, and the MDX, which is selling decently without the huge incentives, has a money factor of .00214, i.e. over 5% - though it does have some APR offers. The financing deals lead me to conclude that if I go with an RDX I'll lease, but if I get an MDX I'll buy.

cobiker

It's obvious that Acura/Honda is trying to promote the RDX. Wife and I had a chance to drive both an 08 RDX and MDX this past weekend. RDX definitely geared toward the younger crowd. So we tried to negotiate a deal on a base MDX . We are working on a zero down lease which would have 20k/yr for 36 months. Last offer on table from the Acura dealer was a Cap Cost $38,700 (still $1500 above invoice). Residual set at 56.5% with a payment of $659/mo. Assuming the money factor is the .00214. Is there a good way of determining how the extra miles impacts the residual or monthly? Seem that once we got over 15k/yr, we fell out of the std leasing programs.

vrynice

I am also looking for a base MDX....seems like a pretty good deal since you put very little out of pocket. What dealer in NJ did you get the price, also does the price include tax? Thanks.

intermd

tech/ent- 30k/36month $620+43 tax, 42,249cap,0.00214 LMF,$26,102 resid,
$845acquis-document amt.
1st pmt +$65register&license due@delivery

tech- 30k/36months $569+40taxes, 40,249cap,0.00214 MF, $25,758 resid,
$845 acq/doc fee.,1st pmt+$65@delivery

is this good

jmpage2

Those residuals seem really high (60% on the tech), although you do quote it as being a 30K mile lease which most consumers can't make work over 3 years.

I'm still wanting to know currently what the residual/MF is on a 3 year/36K lease for an MDX Tech.

intermd

The residuals are calculated based on MSRP and not Cap cost.

jmpage2

yes, I'm aware of that. Still looks to be over 59% residual on the quote for an MDX tech.

radiojon

I've got two more months left on my '05 MDX lease. I have a purchase option (residual) of $25,400, but that's a bit higher than the KBB and NADA wholesale values. I'd really like to keep the vehicle (especially since I've taken great care of it and I'm WAY over on mileage), but the lease-end materials that Honda Finance has sent says that the purchase price is non-negotiable. I've heard otherwise from different people.

Can I call and make them an offer below the residual? Does that work? Thanks for the help!

noviceleaser

Hi Car Man,

This was my first lease a 2005 MDX - base model. The lease runs out in April of 2008 and I am currently at 33,000 miles of a 36,000 mile lease. (They increased the total limit by 5% due to that honda odometer lawsuit)

I'm sure i got screwed on the lease as I have a residual around $24,200 at the end and i paid something like $2500 down including the first payment. Anyhow what is done is done. Here's my question.

I've looked at similar MDXs that are selling and that residual value is roughly in line with Dealer retail. I think it is in my best interest to just turn the car in. My wife got in a fender bender - so the bumper and one headlight was repaired with genuine acura parts. Will they hose me during the inspection since they can tell if it isn't manufacture paint? The MDX is in extremely good condition - i just don't want to get worked over by the dealer.

I did not negotiate the purchase price, or anything. I just paid the $2500 down and been paying $399 per month + tax.

Thanks for your help!

art1jo2

Be happy that you got a quote on your MDX. If you were dealing with Precision Acura in Lawrenceville, NJ you would be so frustrated that you wouldn't even consider the car. I have been looking at best lease deals on the MDX and one company was excellent, gave me a very good quote within a day. Precision Acura just goes around and around, questions your integrity and never gives you a quote.
Stay away from them. By the way I am closing my deal on the MDX with Precision's competitor, who I won't mention because that is what Precision wants to know, but email me direct if interested in knowing who they are. Be happy to recommend them if you are in New Jersey or PA.
I am looking forward to driving my new MDX

kramsky

I am dealing with Open Road Acura and Acura of Ocean. Precision Acura I did not like so I refused to negotiate with them.

How is this deal for the Acura MDX Tech offered by Open Road Acura in East Brunswick, NJ:

3 year lease at 15,000 miles per year, no money down except for first payment of $660.00 (which includes tax). Inception fees were put into the lease. Monthly payment of $660.00 (tax included).

or

3 year lease at 12,000 miles per year, no money down except for first payment of $636.00 (which includes tax). Inception fees were put into the lease. Monthly payment of $636.00 (tax included).

I was looking to make the deal on Monday, but was not sure if this was a good deal. Your opinion is greatly appreciated.

proshopper

I've been looking to lease a 2008 base model MDX. This will be my 3rd MDX. Dealers in my area (S.FL) are pretty close. The best deal I got was a price of $37,995, which puts me at $555/month (plus tax). This is for a 36 month/15K mile lease. Total out of pocket is about $1,000, but includes 1st payment, $595 Honda Finance fee, tags, etc. No cap reduction, and no security deposit. Is this a good deal?

I drove more miles than my lease, and my present lease only charges $.15/mile for overage. The new lease is at $.20/mile. Can I negotiate this down?

Thanks.

jaser

Does anyone know what the new money factor and residuals will be when the current program changes on March 4? I am looking at at Sport (with Tech)/Entertainment?