Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
Options
2013 and earlier-Acura MDX Lease Questions
This discussion has been closed.
Comments
3 years at 15000 miles/year
Zero down, only inception fees at signing
$685/mo including NJ sales tax.
I believe they have one left in stock. Black/ gray interior if anyone is interested.
Do they usually run promotions for 30 days or for longer than that?
I'm still trying to get current info on what money factor and residual are for a 3 year 36K lease on a base MDX.
Specifically looking for 3 year 36K lease numbers from Honda Financing for base MDX and MDX Tech.
Thanks!
Acura is still advertising the $499 lease payment on base MDX with $3000 and no security deposit. Not sure what other fees are in there, but when I run the numbers for a $3,000 down payment and .00197 MF I get a lower payment than $499 a month on a base MDX with the $1800 cap cost reduction that is supposed to be part of the program. I get a payment of more like $450.
Would be nice to get the skinny on the breakdown of the current lease program including all numbers.
MSRP - $44,410
Sales Price - $40,400
Other Fees - $715 (Honda Assignment fee, TTL, etc...)
Total Cap Cost - $41,115
MF - 0.00197
Residual - 54%
Only first month's payment due at signing. Total payment is $603 plus state tax.
Thoughts?
I am truly envious of you guys in milder climates who have dealers wanting to haggle on the MDX. Locally in my area the deals are not so good as the vehicle is still selling well in the current economy.
- The lease is for 36mths and 12k miles per yr
- Payment is $555/mth with $3,589 up front
- Up front payment of $3,589 is made up of 1st mthly pmt ($555), bank fee ($595), DMV fees ($191), taxes ($1,814), Cap cost reduction ($433).
- The selling price was $40,703 (incl destination)
- Residual was 56%
- Money factor was 0.00197
Your opinions/comments would be greatly appreciated. Thank you.
24 Month – Residual 66% of MSRP – .00214 Base Rate
36 Month – Residual 57% of MSRP – .00214 Base Rate
48 Month – Residual 47% of MSRP – .00220 Base Rate
60 Month – Residual 36% of MSRP – .00230 Base Rate
2008 Acura MDX Sport – 2/14/08
24 Month – Residual 61% of MSRP – .00214 Base Rate
36 Month – Residual 53% of MSRP – .00214 Base Rate
48 Month – Residual 43% of MSRP – .00220 Base Rate
60 Month – Residual 33% of MSRP – .00230 Base Rate
2008 Acura MDX Sport w/RES – 2/14/08
24 Month – Residual 66% of MSRP – .00214 Base Rate
36 Month – Residual 51% of MSRP – .00214 Base Rate
48 Month – Residual 41% of MSRP – .00220 Base Rate
60 Month – Residual 33% of MSRP – .00230 Base Rate
2008 Acura MDX Technology – 2/14/08
24 Month – Residual 63% of MSRP – .00214 Base Rate
36 Month – Residual 55% of MSRP – .00214 Base Rate
48 Month – Residual 45% of MSRP – .00220 Base Rate
60 Month – Residual 34% of MSRP – .00230 Base Rate
2008 Acura MDX Technology w/RES – 2/14/08
24 Month – Residual 63% of MSRP – .00214 Base Rate
36 Month – Residual 53% of MSRP – .00214 Base Rate
48 Month – Residual 43% of MSRP – .00220 Base Rate
60 Month – Residual 34% of MSRP – .00230 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
(Cap Cost – Residual Value) / Term = Depreciation
(Cap Cost + Residual Value) X Money Factor = Interest
Depreciation + Interest = Base Monthly Payment
That info looks like it might be a bit out of date.
2008 Acura MDX – 3/5/08
24 Month – Residual 66% of MSRP – .00197 Base Rate
36 Month – Residual 56% of MSRP – .00197 Base Rate
48 Month – Residual 46% of MSRP – .00220 Base Rate
60 Month – Residual 36% of MSRP – .00230 Base Rate
2008 Acura MDX Sport – 3/5/08
24 Month – Residual 61% of MSRP – .00197 Base Rate
36 Month – Residual 52% of MSRP – .00197 Base Rate
48 Month – Residual 42% of MSRP – .00220 Base Rate
60 Month – Residual 33% of MSRP – .00230 Base Rate
2008 Acura MDX Sport w/RES – 3/5/08
24 Month – Residual 61% of MSRP – .00197 Base Rate
36 Month – Residual 50% of MSRP – .00197 Base Rate
48 Month – Residual 40% of MSRP – .00220 Base Rate
60 Month – Residual 33% of MSRP – .00230 Base Rate
2008 Acura MDX Technology – 3/5/08
24 Month – Residual 64% of MSRP – .00197 Base Rate
36 Month – Residual 54% of MSRP – .00197 Base Rate
48 Month – Residual 44% of MSRP – .00220 Base Rate
60 Month – Residual 35% of MSRP – .00230 Base Rate
2008 Acura MDX Technology w/RES – 3/5/08
24 Month – Residual 63% of MSRP – .00197 Base Rate
36 Month – Residual 52% of MSRP – .00197 Base Rate
48 Month – Residual 42% of MSRP – .00220 Base Rate
60 Month – Residual 34% of MSRP – .00230 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
What are the March 24 and 36 month residuals and money factors for an MDX/Tech?
Tx!
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Invoice on 08 MDX with Tech and Rear Entertainment quoted this month at:
41,682 invoice
715 Destination
300 ADAG
Total = 42,667
Money factor on a lease with lower rates thx to uncle sam (most likely Chase bank) is .00185 4.44%
39 months
Still getting killed on adding dealer options before closing in Dallas area.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
When you arrive at a selling price that you are comfortable with, make sure that the dealer that you are working with calculates your monthly payment using Honda Finance's buy rate lease money factor of .00197 (for consumers who qualify for its top credit tier and 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
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Just got a lease quote from Stevens Creek Acura, CA.
Vehicle Price: $46,610.00
Preferred Customer Discount: -$4,863.00
Selling Price: $41,747.00
Sales Tax (estimate): + $3,448.67
Tag/Registration Fees (estimate): + $313.00
Tire/Battery/MVWEA: + $8.75
Other: + $28.00
Documentation Fee: + $55.00
Flat Add/County Fee: + $22.00
Balance Due (estimate): $45,622.42
They have given me 3 lease options at 36 months and 10K miles:
Out of pocket
$3,000 $589
$4,000 $558
$5,000 $528
Are these numbers OK?
This is almost never the case, especially as it would be a used car loan which would probably be at a higher interest rate than new car financing would run.
they are mixing and matching the quote for you.. In California, tax for lease is pay on a monthly basis and based on the lease payment and not the sales price. And they didn't quote you the acquistion/disposition fee of somewhere between 500 to 700 dollars for lease. So the quote you have is good for buying but not leasing. You should be able to figure out the lease payment based on Car_man number for residual and money factor using this lease calculater. And make sure you add the acquisition cost + all the fee if you are not paying them separately upfront...
http://www.leaseguide.com/calc.htm
The best offer I've gotten so far for a base model MDX is $500 over invoice but the dealer wants another $399 documentation fee (added dealer profit) so the actual deal would be $900 over invoice, which at over 2% over doesn't seem like such a good deal.
I've shopped all Denver area dealers and haven't had much success, and am trying to avoid going further away but am willing to travel a bit further if needed to get the car for less.
Thanks.
I ma looking for a MDX and a pickup truck so I thought this would be a good place to start.
I drive an '05 MDX and likely will stay with an MDX if I can get a decent deal. Current lease on the "05 is $610/month for 3 years/17K miles...
Any help would be appreciated,,,
Here is the deal I got on March 30th:
MDX Base
(Invoice is $37,229 incl dest.charge and MSRP is $40,910 incl dest. charge)
Down $1500.00: Includes $500 first payment, $640.93 Doc Fees+Tax, $155 cap cost reduc, $10.85 sales tax, $120 initial registration fees, $73.16 FL fees + Taxes
Agreed upon Value: $35,853.68
Gross Cap Cost: $36,448.68
ADJ Cap Cost: $36,293.62
Res Value: $23,727.80
.00197
36 months
12k miles
58% residual value
Payment: $467.29 + $32.71 = $500.00
The dealer included wheel locks and all weather mats: front, rear, and cargo liner
HOW DID I DO ON THIS DEAL? THANK YOU FOR YOUR HELP
and to all that post here thanks to you to
-MDXSFLA
36 months
12000 miles per year
$550.00 per month
$3500 down.
Please let me know if this is a good deal, or should I drive a harder bargain?
Thanks
Thank you for the helpful info.
My wife and I have/lease an '05 MDX Touring with NAVI and are looking to get back into the 2008 MDX w/Tech. I have done a lot of research and am trying to get back to $525/mo. I want to lease for 36 months and want 10,000 miles per year. We are returning the '05 with approx 19,000 (26,000) miles less than what we were supposed to have (45,000). So there is an advantage there for the dealer for sure.. not to mention the vehicle is in great shape.
You say that you got $499 / Month with NJ sales tax you should be paying approx $534. If so could you tell me the dealer ship in NJ? I'm currently working with Bridgewater, Ocean, East Brunswick, Springfield and Princeton.
Thanks again,
jgacura
Residual will probably drop another 1% across the board on the MDX for April but hopefully there will be a corresponding drop in the finance cost. I know that when comparing March to February the price on the lease actually went down by about $10 per month on the same lease I was looking at just because of the reduction in money factor.
As far as getting extra value on the turn in of your '05 MDX.... good luck with that. Dealers typically won't give you a penny over residual and you are often lucky to get that. If you feel the car is worth more than the residual then consider buying it out at the end of the lease and selling it to a 3rd party for higher than the residual value. That's often the only way to come out ahead if you have a cherry car at the end of a lease.
The only way you will get $500/month on an MDX Tech is to pay the lease down. Even at invoice price on a 10K per mile lease the payment will be over $500 per month before sales tax.
MDX Base
Term - 36 months
12k Miles per year
MSRP - $40,910
Initial Cap Cost - $37,729
Total Add Cap Costs - $595
Adjusted Cap Cost - $38,324
L.E.V. % - 58%
Lease End Value - $23,727
Money Fact Sell Rate - .00197
Base Monthly Rental - $527
Total Annual Fees - $161
Total Initial Fees - $57
Total Sales Tax - $569
Amount Due At Start - $762
Total Monthly Payment - $543