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2013 and earlier-Acura MDX Lease Questions

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Comments

  • Hi 06_mdx. You are being given a discount of almost $3,500 on a truck that has a spread of a little over $4,200 between its full MSRP and dealer invoice prices. This means that you are getting it for $700 to $800 over invoice, which seems like a reasonable selling price to me. I just worked up a lease payment on this truck using Acura's current lease program for it and came up with a monthly payment that is about the same as the one that you were quoted. If you like this truck, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • I was quoted $630 a month. 2006 w/ Nav 36months 15,000miles. Nothing down. I pay only first month and DMV, all taxes are in the lease. In my area tax is 7.5%. Is this a good deal? In a previous posted message I read on your site, it seems I could do much better??
  • ozamozam Posts: 5
    Was hoping someone could help .... I am looking to lease a base 06 with MSRP of $37,740. At the end of the day how much should the pretax lease payment be for a 42 month, 15,000 mile lease, assuming no money down? Also, what are reasonable lease acquistion fees and doc fees? I would greatly appreciate any guidance!!! God knows the dealers try to confuse the situation!

    Thanks.
  • indus2indus2 Posts: 20
    Base MDX, 36 months lease, 15K/year, the residual is 61%, and MF is .00196. I'm in NJ, was able to negotiate the net cap of $33,874 ($200 below invoice). Does anyone know if there is any dealer incentives at this time?
  • Just leased a 2006 MDX Premium (Base) Didn't use you site before we shopped - now I am afraid we may be paying to much...
    they paid off our traded Jeep 103,000 miles with balance of $4800 + gave us 937.15 towards cap cost reduction
    Here are the number I have=
    37135.00 gross Cap Cost
    937.15 Cap Cost Reduction
    36197.85 Adjusted Cap Cost
    21511.80 Residual Value
    42 months/15,000 miles per year
    $500.81 including 7% sales tax
    Thanks!
  • indus2indus2 Posts: 20
    It depends on how much your trade-in was really worth. By itself, selling price of $37,135 on the base model is high (in the NY/NJ area it can be had at invoice or below), but if your Jeep was worth less than $5700, then you need to adjust accordingly.
  • What are the Novemeber values?
  • Hello all, I was just offered the following deal for a 2006 MDX, Touring package with Navigation.
    3 years/12,000 miles per year
    $529.00 a month includes Taxes.
    Up front costs are:
    Acquisition Fee of $595.00
    1st month payment of $529.00
    Security Deposit of $550.00

    Looks good to me and is the best I have found. Let me know what you think?
  • 2006 MDX, Touring w/ navi and DVD.
    42 months/12,000
    MF .00173
    Res 55%
    Upfront costs:

    Acuisition fee $595
    1st month payment $574.74
    Registration $75
    Security Deposit - Waived
    Tax on Aquisition fee $42

    Equity from my trade in approximately $727

    Total "out the door" cost was $559.33

    $574 a month including taxes (7.075%)
  • Hi eazyfour. 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 this truck's selling price 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 on this deal if you let me know what these numbers are.

    Car_man
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  • Greetings ozam. I would be happy to give you an idea of what sort of lease payment to expect to pay on the truck that you are interested in. It would be a big help though if you would let me know its approximate selling price. Always remember that the selling prices of leased vehicles can be negotiated, just as if you were paying cash for or financing them. You should be able to get a good idea of how much you will have to pay to lease this truck by visiting the following discussion: "Acura MDX: Prices Paid & Buying Experience".

    As far as the fees go, Honda Finance (the bank that you will have to lease through to take advantage of the MDX's special program) charges a $595 acquisition fee on every vehicle that it leases. Doc fees are completely up to dealers and should be looked at as part of your vehicle's total price and like a way for your dealer to add additional profit to your deal rather than a required charge.

    Car_man
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  • Hi indus2. Acura is not currently providing any sort of dealer cash that I am aware of on the 2006 MDX. It does have $2,000 on the 2005 model, but there's no lease support on it and there aren't many out there.

    Car_man
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  • I'd be happy to give you an idea of what the current lease program on this truck is like, jlwalter. However, in order for me to do so I needs some additional information from you first including the exact model that you want, i.e. a 2006 MDX Touring with navigation, how long you want to lease it for, and how many miles per year you need to be able to drive it.

    Car_man
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  • Hello dibbaa1. 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 this truck's selling price 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 on this deal if you let me know what these numbers are.

    Car_man
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  • Hey jlwalter. The lease money factor that you were quoted is right in line with Honda Finance's current buy rate lease money factor for this model. This is a good thing. It's difficult for me to give you my opinion on this deal without knowing this truck's full MSRP and selling price though.

    Car_man
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  • Hey Car Man

    Thanks for the reply. The MSRP for the vehicle I was offered is $43,315 that includes the destination charge of $615.00 The adjusted capitilized cost is $41,072. The taxes in my area are 8.375%

    The payments for me again are as follows
    1. $529.00 a month/ 36 months / 12,000 miles
    2. $550.00 security Deposit
    3. $595.00 for acquisition fee

    It is the Touring w/ Navigation model.

    Thanks for the info.
  • vickatvickat Posts: 43
    Hi guys,
    I never leased a car before. Got Premium (base) MDX'06 lease offer as $398/month, 42 months, $2000 down. Got no intention of buying it out at the end of lease. Purchase price was quoted at $34,400 before taxes. Are these lease/purchase figures competitive in NJ/NY?
    many thanks - vickat
  • I have a question...I found a very nice 2005 Acura MDX Touring Nav DVD with 9,500 miles and looks like new. The price in the window (not original sticker) is $44000. My question is what would be a good price for this since it's a demo with 9500 miles.
  • davindavin Posts: 2
    Car_man,

    I was offered the following lease and I am trying to determine whether to get the car by the end of December or wait to see what the money factor will be in January. I live in the Philadelphia area. Details are:

    42 month lease/12,000 miles per year
    $1,500 out of pocket
    Selling price of approximately $39,000 (still negotiating this)
    Money factor - .0017
    Residual - 56%
    Monthly payment was quoted at $527 and change including tax

    My questions are (i) whether the money factor above is attractive by historical standards for the MDX, and (ii) am I better off waiting until January to see if the money factor drops lower (and maybe the residual will increase)? Thank you in advance for your help.
  • Hello,

    What are the current money factor and residuals for:

    2006 MDX Touring with Navigation
    12/15K over 24 months
    12/15K over 36 months

    Any dealer cash?

    Thanks!
  • Hello All,

    I was offered the followingg lease for the 06 Acura MDX with Entertainment (DVD), Touring and Navigation system.
    This is my lease term:

    36 months / 12,000 miles per year
    $4000 out of pocket
    1 year / 12,000 free scheduled maintenance services
    Free floor matts
    Free spoiler
    Free backup-sensor
    Wood-grain steering wheel
    Monthly lease payment is $455/month (tax,license fee included)

    Is this a doable deal?
  • You're leaving out some important information. What was your agreed upon price for the MDX? In other words, what did you pay for the car? And what was your money lease factor and residual value? This will help decide whether or not this is a good deal.
  • We are looking into leasing an '06 MDX for my wife that graduated in May and I am trying to find out what kind of recent grad program Honda Financial is offering on this vehicle. The website says to see your dealer and my dealer referred me to the website and I told them the website told me to see the dealer...and so on(I was tired of being passed from manager to manager and hung up). I think I will find a different dealer.
    Thanks
  • mdx06mdx06 Posts: 4
    Offered this dealin LA:
    06 Touring with/Navi
    MSRP 43,315

    $37,725.41

    $897 d/o
    $460 mo + tax ($495 mo)
    36 months 12K

    What do you think?
  • Hello,

    I am considering the same lease offer from Acura.

    Have you already leased your MDX ? If so, what is the total price including tax.

    Were you able to negotiate with the Dealership on the down payment ?

    Thanks
    in advance
  • Hi everyone. I've been away on vacation for a little while. I'm going to answer any questions that have been posted over the past couple of days. I would appreciate it if anyone who has an older question than than that they would still like to have answered would post it again. Thanks and Happy Holidays.

    Car_man
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  • Greetings kelvestto. Let me begin by saying that $4,000 is way too much money to put down on a lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your MDX would be exactly the same, regardless of whether you had put $4,000 down, or had made absolutely no down payment at all.

    Also, you never mentioned the selling price or MSRP of the truck 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 this truck's selling price 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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  • Hi mtnsmith. I don't believe that Acura is currently providing any special cash incentives on its vehicles for recent graduates. The special program that the web site mentioned may only be a matter of being more lenient in approving loans for recent graduates.

    Car_man
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  • Hello mdx06. I assume that the $37,725.41 that you mentioned in your post is this truck's selling price. If so, it is a heck of a good price. I suspect that it is well below dealer invoice. Let's use the prices that you mentioned to calculate a lease payment on this truck and see what we come up with. According to my calculations, if you were to lease a 2006 Acura MDX touring with Navigation but without the entertainment system with an MSRP of $43,315 and a selling price of $37,725.41 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $437. As you can see, this is a little lower than the payment that you were quoted. The payment that I worked up assumes that you pay a security deposit and qualify for Honda Finance's top credit tier. If you don't qualify for the top tier or pay a deposit your payment would be a little higher.

    Car_man
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  • mdx06: I'm shopping for the same vehicle in LA and the quotes I've been getting are nowhere near yours. I was just quoted $40,500 / 42 months / 10K miles / $536 which includes tax / $1,543.09 d/o. The sales person said your d/o was impossible given bank fee ($595) + DMV (~$400) + first payment ($495). I left the dealership in friedly disagreement. What is the name of your dealership?
  • vickatvickat Posts: 43
    Hi Car_man,
    I never leased a car before. Got Premium (base) MDX'06 lease offer as $400/month, 42 months, $2000 down, 15,000 miles/yr. Got no intention of buying it out at the end of lease. Purchase price was quoted at $34,400 before taxes. Are these lease/purchase figures competitive in NJ/NY?
    many thanks - vickat
  • vickatvickat Posts: 43
    Sorry, kaipaji, I'm still sitting on the fence with that one. Forgot to mention in my original post that allowed annual mileage was 15K - see what Car_man has to say 'bout it!
  • Here's the deal I got:

    36 mo;
    12K;
    $700- 1st mo, fees;
    $571/ month including the tax (9% in PA).

    They took my 2003 TLS with 3 payments left ($1,611). The selling price was about $40.5K. I was told this is the absolute minimum price they can give me. BTW, the car is phenomenal!!!!!!!
  • Can you lease a used car?

    i see in the paper advertisements for leases that have an asterisk next to the lease price indicating that it is for a pre-owned car. Are these all cars that were prior leases or cars that were traded in that they are offering a lease on? or can you do a lease on any car?

    i am interested in lower monthly payments or getting more car for the money but maybe do it on a used car - but am curious on pros/cons of leasing a used car and what i should keep in mind.

    thanks
  • I'm trying to find the best way to terminate my lease on a 2003 MDX Touring with 15 months remaining. I don't think that AHFC allows transferring of lease to another party. Are you familiar with normal early termination fees? I now have 2 small children and I just need a little more room in my vehicle. Any insight would be appreciated. Thanks in advance.
  • mdx06mdx06 Posts: 4
    seekmdx: I got it at Santa Monica Acura. I purchased it through the internet sales dept. Good luck. They were great.

    Even with that great deal, I still got suckered into paying an extra $23 a month on the lease I chose. Man, those car dealers! I am still really happy with the car and with the price.
  • mdx06mdx06 Posts: 4
    Thanks for the numbers. I already picked up the car. I do qualify for top tier credit/no deposit. I guess they got that extra $23 a month out of me. Oh well, great car, still happy with the price!
  • Hey Car Man. I posted this again per your request.
    Thanks

    Thanks for the reply. The MSRP for the vehicle I was offered is $43,315 that includes the destination charge of $615.00 The adjusted capitilized cost is $41,072. The taxes in my area are 8.375%

    The payments for me again are as follows
    1. $529.00 a month/ 36 months / 12,000 miles
    2. $550.00 security Deposit
    3. $595.00 for acquisition fee

    It is the 2006 Touring w/ Navigation model.

    Thanks for the info.
  • Hi,

    Here a quote I got from a Acura Delaership in DFW.

    Otion 1
    $ 2500 Down (Incl of 1'st month payment)
    $ 2000 TTL
    $ 399 per month for 41 months

    Option 2
    $ 630 Down payment (Inclusive of TTL)
    $ 449 per month for 41 months

    The touring package(Bose sound system + Michellin Tires + Power adjustments for Passenger seat) ( No DVD or navigation) - Adds $ 50 to the per month payment under the above 2 options.
  • njmdxnjmdx Posts: 17
    Hello Car Man,

    Can you please provide me with the January Honda Finance money factor and residual value for the 2006 MDX Touring with Navigation for a 3 year 12k per year lease?

    thanks much!
  • whskvswhskvs Posts: 28
    1. Put no money down.
    2. Negotiate the price of the car before the word lease leaves your mouth.
    3. Decide on how many miles you drive a year. * 25%.
    4. Get the money factor assoiated with the above.
    5. plug in #s to a lease calculator online. Compare your monthly payment with what the dealer tells you. If it is the same, close the deal.

    If you negotiate on the monthly price, you WILL get screwed.

    JMHO
  • Maybe someone could help me - maybe Carman!

    In Chicago looking to lease a 06 MDX Tour with 15k miles per yr

    36 or 42 or 48 mths
    No cash down
    Top credit
    What is a good adj cap amt and monthly payment prior to sales tax?

    Thanks
  • Hi vickat. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    It is difficult for me to give you my opinion on the lease that you were quoted without knowing this truck's full MSRP. This number will show me how much of a discount you are being given on it and enable to estimate what its lease payment should be using Honda Finance's actual lease program. Let me know and I will tell you what I think. You also may want to stop by the following discussion to compare the price that you were quoted to how much other community members have paid for similar trucks lately: "Acura MDX: Prices Paid & Buying Experience".

    Car_man
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  • Greetings tsxowwner. The answer to your questions is yes, consumers can lease used vehicles. The problem with doing so though is that most manufacturers do not provide any special deals on used vehicle leases. So even though you are missing out on the big initial depreciaiton hit by leasing a used vehicle, it often ends up costing around the same price, or even less, to lease an equivalent brand new model that has lease support available on it than it does to lease a used one. Given Acura's special lease program on the 2006 MDX and its lack of lease support on used vehicles, I suspect that this is the case with this model.

    Car_man
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  • Hi tracig. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle. At least you aren't in a small car, the MDX should have enough room for you to get by until you are near the end of your contract.

    Car_man
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  • Thanks for taking the time to post your message again, dibbaa1. OK, so you are being offered a 2006 Acura MDX Touring with Navigation with an MSRP of $43,315 for a price of $41,072. This is a discount of around $2,200, or about $2,000 over invoice. If you are in an area where there is a decent level of competition for your business, there is a good chance that you can get a better price than this. You may want to stop by the following discussion to see how much other community members have paid for similar trucks recently: "Acura MDX: Prices Paid & Buying Experience".

    Using the prices that you mentioned in your post, a money factor of .00140, and a residual value of 58%, I estimate that this truck should have a 36 month, zero down, pre-tax monthly payment of around $536. If you were to negotiate the selling price down to $40,072, which is a more reasonable $1,000 over invoice the payment for an otherwise identical lease would drop to around $507.

    Car_man
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  • Hello njmdx. Here is the information that you are looking for. If you were to lease a 2006 Acura MDX Touring with Navigation through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00140 and 58%, respectively assuming that you qualify for its top credit tier and pay a security deposit.

    Car_man
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  • You've certainly got the hang of how to negotiate a good lease, whskvs. Thanks for taking the time to share your strategy with everyone.

    Car_man
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  • I'd be happy to help you out, eric_60031. You never mentioned the selling price or MSRP of the truck that you are interested in, but they shouldn't be too hard to figure out given Acura's simple pricing structure. The truck that you mentioned, an '06 MDX without navigation or the entertainment system, has an MSRP of $40,565 including destination. Let's say that you were able to get it for $500 over dealer invoice, or $37,117. Using these prices, if you were to lease this truck for 36 months with 15,000 miles per year, its zero down, pre-tax monthly lease payment should be around $441. The problem is that leasing in Chicago is very expensive because of how sales tax is calculated on leased vehicles there. I used a 36 month term instead of the longer ones that you mentioned because 36 months is the longest lease that Acura's special lease money factor is available on. Your truck's lease payment will be different if you negotiate a different selling price.

    Car_man
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  • Hi,
    I currently have a 2002 Jeep Grand 4x4 Sport with 53,000 miles. I recently found myself broke down out of town due to a problem with a sensor. (previously no problems with this vechile, semms to work good now) Had it repaired by a dealer, but my warranty is OUT and it was a long experience on Christmas Eve!!).. This has me in the market for a new vechile. I looked and drove a Acura MDX and was offered a lease for $399 a month 12K per year on the Acura I test drove (premium pkg)thru Honda Finance. My question is: I owe right at $6,000 on my Jeep. Trade in value was quoted anywhere from 11,000 - 12,000. How does this work on trading in on a Lease?? Would I just be giving my Jeep away?? I usually don't lease, but have found myself trading on the average every 3 years. This made a lease on such a nice car seem so appealing. This lease seemed much more cost effective than the VOLVO S40 I recently looked at leasing.
    Thanks!!
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