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2013 and earlier-Acura MDX Lease Questions

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Comments

  • mdx4mywifemdx4mywife Member Posts: 9
    The comparison I can make is to my own lease we are currently in. We leased my wifes 2006 MDX in April of 2006. The Sticker of the vehicle was $44.8K. I never put any money down on my leases and that is one of the first things I told the dealers when I called. I contacted 7 dealers within 200 miles of Charlotte NC. The deal I took was 3 years 15k per year for $558/month. This included running boards installed by the dealer on a MDX with Nav and RES. We will be looking at this time next year when the lease on the '06 runs out. I hope deals on the new body style are better than current by then.
  • rmrcrmrc Member Posts: 21
    First post...great forum!

    I'm shopping the MDX vs. the GX470 for my wife. We're going to lease because we can deduct part of the lease on business.

    Anyway, I worked out a deal of $800 over invoice on a Sports Package MDX. Total drives would be $1,710 which includes the bank fee, first month and registration. The problem - and it's a BIG problem - is that the dealer is telling me the residual on a 36 month, 12k/year lease is 52%. What a joke. Most of you are getting 58% residual on non-sport models. Is it possible the sport model has a 6% lower residual? Can't be....

    With this ridiculous residual the $52,668 GX470 is $30 per month CHEAPER!

    Any thoughts on this residual?

    Thanks for the help.
  • jmpage2jmpage2 Member Posts: 268
    Sport has the lowest residual because there is not a lot of demand for the Sport model, not a lot of people will want to spend an extra $1,000-$2,000 for sports suspension when the lease is over on that car. This is typical with any feature like this that has limited demand. Keep in mind also that the GX470 is (or was) the worst selling Lexus model on the market. It gets mediocre reviews and is dated. I'm not surprised there are incentives on it. The MDX is a brand new design and the MDX was purpose built as a mid-size SUV as opposed to taking a car platform and building a crossover out of it. The standard features on the MDX are quite good for the money spent in this segment... especially if you can negotiate for close to invoice price (as we did).

    April residuals are not out yet but will likely be 1% lower than current ones and the money factor will move slightly lower to compensate. My wife and I went ahead and leased ours with March residuals (just a few days ago) because I was worried that with soaring gas prices, crappy US economy, etc, that residual could actually go down more than 1%.... this is unlikely but I tend to worry about these things. One advantage of leasing is that if the economy goes in the dumpster and the residual value of a vehicle plummets, it's the bank who is going to get screwed on that residual value, not you (they effectively are the ones who bought the car at that price).

    Residuals are below, remember they are for 15K lease and are for MARCH but might still be available because I don't believe the new April numbers are out yet. Add 2% to any of the numbers for a 12K vs. 15K mile lease. Also remember these residuals are from Honda finance, other banks, etc, might have different residual values.

    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
  • rmrcrmrc Member Posts: 21
    jmpage2 - thank you very much for the great information and insight. So it looks like the dealer is trying to increase margins by subtracting 2% from the residual. Sneaky little trick but I'm no sucker. I really want the Sport package (I will drive the car quite a bit) so I guess that in this case I will just have to pay to play. I'll shoot for a minimum 54% residual.

    Thanks again for the help.
  • jmpage2jmpage2 Member Posts: 268
    That 54% residual will be going down to 53% any day now, it could have already reset. Remember that the numbers I posted were the March numbers, April numbers will be out soon and will possibly be lower.

    If residual does go down another point or two it's likely that the money factor will also go down, which should even the monthly payment out.

    If you compare the 59% residual for a base MDX for February to the 58% residual for the same car in April, the monthly payment in April was actually lower, since the money factor dropped.
  • rmrcrmrc Member Posts: 21
    I spoke to my dealer today and got the residual straightened out. I'm now "locked" in at no worse than a 54% residual and rate of .00197 for an MDX Sports Package. If the residual goes down or the rate goes up in April it will not affect my payment yet I can take advantage of a lower Payment if that's how it turns out. The reason for this gesture is that the dealer doesn't have the car I want and since they are such a high volume dealer trading for the car with another dealer may prove difficult. To keep me from going elsewhere they provided the "lock."
  • rplainrplain Member Posts: 4
    I have been offered a 08 TL with Nav with nothing down only first payment and plates for $538.00 per month for 36 months. The deal includes 15k miles. All sales tax is in the deal (sales tax 8.5%). I don't know what the end of term purchase price is and frankly don't care. Is this a good deal?
  • rmrcrmrc Member Posts: 21
    You'd probably get your answer faster if you posted in the TL thread.
  • rplainrplain Member Posts: 4
    OOps Sorry about that...will do. Pilot error
  • jmpage2jmpage2 Member Posts: 268
    Good for you. Now time to focus in on pricing and trying to get rid of those ridiculous dealer fees they are always trying to charge.
  • jeremywjeremyw Member Posts: 9
    Does anyone have the April lease rates for a base MDX - 24 and 36 residual values and base rates/money factors? I need them for at least a 15,000 mile lease but I'm looking to do an 18,000 mile/yr lease.

    Any advice on getting the best deal for a higher mileage lease without too much out of pocket. I live in Atlanta, GA. Thanks for the help!
  • jmpage2jmpage2 Member Posts: 268
    I don't think the April numbers have been released yet, but I could be wrong. As far as getting a good deal, Honda Finance sets the residual numbers for the mileage on the car, and they are pretty accurate.

    If a 15K lease on a base MDX is 56% I would expect the residual on the same car for 18K miles to be somewhere around 53-54%.

    There's really no negotiation to be done on the residual and money factor with honda financine that I am ware of, all negotiation will be on purchase price of the car (cap cost reduction).
  • newyorkrnewyorkr Member Posts: 3
    :confuse: Hello, my lease for TL 05 ends soon, so I'm thinking to lease MDX 2008 Tech/Entertainment in this month (Apr 2008). People say that to get a good lease deal, pretend to buy one and make a deal for the sales price first. So I'm trying not to tell that my lease-end situation before sale price is set. But, I'm not sure by telling acura dealer that I was their customer and I've been paying monthly payment well to make the better deal (by getting any sort of discount for the first-tier customer) for the sale price. If I tell them I've been leasing TL and they may check my payment history and etc, and there could be more chance that I can get better deal? What do you think? Please give me any helpful advice to get a good lease deal in my case. Also, can you guys share leasing experience for MDX 2008 Tech/Ent?
    Thanks!
  • jmpage2jmpage2 Member Posts: 268
    Any car buying guide will explain to you how leasing works and how the car buying game works.

    Lease vs. Buy doesn't mean anything to the dealer. What the dealer might try to do is ask you how much money per month you want to spend on the car. If you answer this question then the dealer can try to get you into a deal you don't want.

    You need to take the responsibility to crunch the numbers ahead of time and know how much the purchase price of the car should be, which is independant of buy vs. lease. You should also know how much your payment should be, there are plenty of free calculators you can find to figure this out.

    If you search through this thread you will see dozens if not hundreds of posts with prices for the MDX and where to go get them.
  • rmrcrmrc Member Posts: 21
    "People say that to get a good lease deal, pretend to buy one and make a deal for the sales price first."

    I think the above is a myth. The dealer makes the same amount on a car whether you lease or buy. Once the car leaves the lot the contract is with Honda's finance company with both a lease and purchase. Just do your homework and run your lease calculator ahead of time so you don't get screwed into a lease with unfavorable (for you) terms.
  • mdxfan5mdxfan5 Member Posts: 5
    Hi,

    Does anyone know what kind of leeway dealerships have in discounting accessories? I am interested in leasing an MDX base and installing a roofrack with crossbars and side steps. The dealer, after much hesitation, has offered 10% off of these accessories. ($1,450-$145=$1,305). Are these prices fair?

    Also, the dealer has told me that these accessories do not have any residual value but I have heard otherwise. Anyone know what type of residual accessories have?

    Thanks!! :)
  • jmpage2jmpage2 Member Posts: 268
    As far as I know dealer installed accessories have zero residual value, in other words you pay 100% of the accessory cost during the lease, the total accessory amount is simply amortized over the lease period with interest applied.

    Really the person that ultimately benefits at the lease end is the person who buys the car next as the dealer will likely increase the asking price on the used car due to the nice accessories installed.

    Typically accessories are marked up quite a bit from dealers, in the neighborhood of 30-40% but I don't know that for a fact in the case of Honda/Acura. You can buy the accessories yourself here;

    http://www.hondacuraworld.com/Merchant2/merchant.mvc?Screen=CTGY&Category_Code=A- MDX

    And investigate on how much they would cost to install.

    As you can see the price of roof rack, crossbars and running boards (steps) would be about $800 if you bought them and installed them yourself. Or $800 plus labor if you bought them and then had them installed elsewhere.
  • rmrcrmrc Member Posts: 21
    That hondacuraworld is a great find - thanks. Do you know if the roof rails and cross bars are difficult to install? We're going to get these and the savings before labor is around $150. Then you add dealer labor and it's probably a $250 savings to buy on line and do the install myself.
  • jmpage2jmpage2 Member Posts: 268
    if you do a search of the forums at www.acuramdx.org you will find some practical help on roof rack installation including the manual that is provided to the Acura techs to do the installation.

    It does involve cutting the moldings, reinstalling boots, etc, so I'm not sure how easy it can be considered.
  • trirascaltrirascal Member Posts: 4
    Looking for feedback
    I live in the Los Angeles area.
    This is a deal I was quoted:

    Acura MDX with Tech

    1. MSRP : $44,110 including destination charge
    2. Negotiated Price: $39,500
    3. Lease origination fee rolled in to lease: $640
    4. Total Cap cost: $40,115 (no cap cost reduction, no trade in)
    5. Money Factor: .00197
    6. 3 year lease
    7. 12,000 miles
    8. Residual: 56%
    9. Other drive off fees (tax, title, license and first month): $928
    10. Monthly lease amount: $598 including tax of 8.25%

    Ideally, I'd like to take off $50 dollars a month. Is this possible?
  • jmpage2jmpage2 Member Posts: 268
    What's the big deal with the $50 per month. If this is over your monthly "car budget" then it seems this might not be the right vehicle choice unless you are willing to put more money down.

    You're getting the car for $100 under invoice, so I don't see how you're going to get another $1800 off from the purchase, which is what it would take to get the monthly down roughly $50 per month.

    You could always wait and hope that Acura does some big incentive program. Occassionally they have waived the loan origination fee, but that only amounts to about $600 and would only reduce payments by around $15-$18 per month.

    If you really want the payment down $50 then consider the non Tech version and invest in a nice portable GPS like the Garmin...

    Or, you could just prepay $1800 on the lease, that would get the payments down $50 per month.
  • rmrcrmrc Member Posts: 21
    I’m in southern CA (Orange County) and I negotiated $500 over invoice on my wife’s Tech Ent MDX. Even though it doesn’t snow in southern CA demand for this car/SUV is still relatively robust. If you were able to negotiate a sales price at invoice or slightly below you are doing well for yourself. I personally have no problem paying 500 over as these poor guys have to make a little money and I’d like decent after sale service. Currently I don’t see any way around the $595 acquisition fee. In fact you’ve done well if the dealer waived the marketing fee.
  • jmpage2jmpage2 Member Posts: 268
    If the marketing fee really exists in your market then the dealer does actually have to pay it on each car sold per their contracts and will pass the cost along to you.

    If the dealer does agree to waive this fee then that is coming further out of the bottom line on the vehicle.

    I agree, that $500 over for an invoice for a car in relatively high demand is a great price. You get a very good deal and the dealer makes a small profit.
  • trirascaltrirascal Member Posts: 4
    It isn't so much a question of whether the $50 dollars will make or break me. I am just curious whether I am getting a good deal or is there a better deal to be made. Even $10 per month less is better than nothing. I just want to know how much room there is to negotiate.
  • jmpage2jmpage2 Member Posts: 268
    As I already indicated you are already at $100 under invoice price and would be getting an outstanding deal assuming no other hidden fees, overpriced accessories, etc.

    There is about $1200 of dealer holdback left in the car, so if you think you can get them to part with some of that then have at it.
  • rmrcrmrc Member Posts: 21
    Your dealer must really be hurting and is trading the car on very thin margins. Is the car purple or something? I would take that deal and don't look back.
  • alinaddafalinaddaf Member Posts: 3
    I live in San Franciso bay area and want to lease an MDX. The term that one dealer have given me is $499 per month for 36 months with $2,999 total due at signing.

    The breakdown

    MSRP $40,910 (base model)
    Net capitalized cost $37,714
    Term 36 months with 10,000 miles per year
    Total Due at signing $2,999
    Monthy Payment $499 (excluding tax)
    Total payment $17,960
    End leas purchase price $24,136

    Anybody knows about any better deal in the area. Thanks
  • jmpage2jmpage2 Member Posts: 268
    the deal you are quoting is the standard deal that Acura advertises for the MDX as a "lease special" on their website and in print ads.

    it includes about an $1800 cap cost reduction.

    You can do better.
  • alinaddafalinaddaf Member Posts: 3
    live in San Franciso bay area and want to lease an MDX. The term that one dealer have given me is $499 per month for 36 months with $2,999 total due at signing.

    The breakdown

    MSRP $40,910 (base model)
    Net capitalized cost $37,714
    Term 36 months with 10,000 miles per year
    Total Due at signing $2,999
    Monthy Payment $499 (excluding tax)
    Total payment $17,960
    End leas purchase price $24,136

    Anybody knows about any better deal in the area. Thanks
  • alinaddafalinaddaf Member Posts: 3
    I have seen much better deals in this discussion thread.
    Any dealers in SF bay area anyone can refer.
  • jmpage2jmpage2 Member Posts: 268
    Why not just go to www.acura.com and get the email address of the Internet manager at each dealership within a couple of hours of your home?

    I think you will get the best deal that way. You should be able to get MDX for at most 2% over invoice price including all dealer/advertising fees, etc.
  • sierra294sierra294 Member Posts: 3
    Please help! I thought I had negotiated a good deal on an MDX Tech w/ power lift gate last night:

    MSRP $44910
    seling price $41000
    Residual 56% ($25177.60)
    money factor 0.00197
    3 yr/12K per yr
    $1500 for start-up fees, including 1st month payment

    monthly payment including tax (9%) = $625

    I signed the papers, put down my deposit and left happy...

    Today I get a call from the dealer that the money factor today changed and they need to rework my numbers!

    So my question is: where do I find the money factor online to "call them on this" as I don't believe him (I got that number from an Acura dealer) and do they really change from day to day? (I thought they were determined month by month).

    Today, not so happy..

    Please advise!
  • jmpage2jmpage2 Member Posts: 268
    The only thing I can tell you right now is that you are not getting an MDX Tech with power liftgate because such a vehicle doesn't currently exist. The only MDX that has the power lift gate is the Entertainment model which has an MSRP of $45,895 + $745 destination charge.

    There are a few car buying sites that do list the money factors, you can search through this thread to find them.
  • dmilanidmilani Member Posts: 3
    Why do you say that? The Acura web site has shown the MDX Tech with power liftgate for a few weeks now. MSRP is $44,245 (go to Build & Price)

    Are you saying you can't get these yet? If not, do you know when?

    Thanks.
  • jmpage2jmpage2 Member Posts: 268
    Apparently this is a change that has just happened in the last couple of weeks. I don't know though what the actual dealer availability is for these as I expect they are probably just starting to show up as a mid 2008 model year change.

    As far as money factor goes, typically the way Honda Finance will do things is to reduce the money factor but also reduce the residual. Did they tell you there was also a residual?
  • tishka72tishka72 Member Posts: 5
    I'm looking to lease ACURA MDX basic package. Does anybody know what can I get in New York area? What conside a good deal?
    Thanks
  • rajosmomrajosmom Member Posts: 6
    Please Help! I have been negotiating with local Acura dealers in Ft. Lauderdale on the purchase of a base model MDX. However, after running numbers on the edmunds auto loan calculator, I have determined that I can not afford to buy the MDX. I really like the MDX and am now looking to lease. I know the first step is negotiating a sale price. I have gotten a local dealer to agree to a purchase price of 36,828.83, including destination and advertising fees. My question is this- How do I determine what the monthly lease price should be based on the agreed upon purchase price? I would greatly appreciate your help. I feel like I worked so hard to get to this number, that I hate to loose all my hard work because I have decided to lease. Thanks in advance for your help!
    rajosmom
  • hemorsehemorse Member Posts: 34
    A rule of thumb, and it is a rough rule, is to figure on about $20 per thousand dollars of the lease amount you finance. You'll need to find out the residual value from the dealer and the money factor. There are others here with far greater expertise. I got mine about three weeks ago with all the bells and whistles, and am really enjoying it. Good luck!
  • jmpage2jmpage2 Member Posts: 268
    You've already negotiated a fantastic price on the car at around $400 below invoice. If you have good credit you should be able to get the top tier Honda lease money factor of .00197 on the MDX.

    This would equate to a monthly payment of under $500 a month for you with very little money down.
  • rajosmomrajosmom Member Posts: 6
    Thank you for your help. I'll let you know how I do. The managers at both dealerships I have been working with were not in today!
  • buyer778buyer778 Member Posts: 6
    Does anyone have the money factor or residual numbers for April yet or know of a site that would have it?
  • buyer778buyer778 Member Posts: 6
    Never mind, I found my answer. The money factor and residual factors have not changed since March.

    I have cut a deal for an MDX with technology and entertainment package and I am feeling like I may have left something on the table. I offered $42900 (500 over invoice) and they accepted it. I plan on leasing and have a money factor of .00197 and a residual of 52%. Additional costs include an acquisition fee of $595, taxes up front and a DVM charge of $182. Of course there is the destination charge of $715 already included in the 42,900. Did I offer too much over invoice? I guess I was expecting a little haggling.
  • hemorsehemorse Member Posts: 34
    What was the vehicle's MSRP? If you are doing a 36 month lease, what are the payments with tax?
  • mdxguy4mdxguy4 Member Posts: 2
    ln NJ, looking at 2008 MDX w/Tech. This is the best deal I've gotten so far:

    MSRP: $44,410
    Selling Price: $40,403
    Residual: 54%
    Money Factor: .00197
    36 Months/15,000 Miles per year
    $4200 drive off cost
    $550/month

    How does this sound????
  • buyer778buyer778 Member Posts: 6
    Total as Configured: $46,971

    MSRP: $45,895

    Destination: $715.

    All Season Floor Mats 138

    Roof Rails $223

    Acquisition fee $595

    DMV: $182

    Taxes: Paid up front $2114.17 ( New York State)

    Lease pymt: $650.70 (excluding taxes which were paid up front)

    Total Cash due at signing: $3542 (consisting of $595, 182 and $2114 and first months lease pymt of $650. 70)

    Money factor: .0097

    residual value 52%

    I have tried to run the numbers on the various lease calculators and I come close. What are your thoughts?
  • buyer778buyer778 Member Posts: 6
    Looks better than my deal. You are at invoice price plus destination. I am $500 over invoice plus destination.

    What makes up the $4200?
  • mdxguy4mdxguy4 Member Posts: 2
    The $4200 consists of about $2800 in cap cost reduction and $1400 in drive off costs (e.g., 1st month payment, bank fee, doc fee, DMV fees). Dealers will NOT budge on the drive off costs...

    Feedback????
  • buyer778buyer778 Member Posts: 6
    I tried to recalculate your lease payment and I come up with $499. Does the $550 include sales tax?
  • allsop9allsop9 Member Posts: 1
    My wife has a Honda Pilot that she leases. We are looking at leasing a MDX. What area are you getting the MDX at 400-500 below invoice? I live in the Pittsburgh area. Getting it that low would really help us out. Thanks

    Mike
  • rajosmomrajosmom Member Posts: 6
    Hi Mike

    I live in Ft. Lauderdale, FL. I currently lease and MDX, so the dealer I used last time is trying to get me to come back and lease again with them. I used that as my starting point and am now shopping other dealers with that offer. FYI, all Acura dealerships get a 3% (of MSRP) holdback on each Acura sold. This is not something that they advertise, but is something I am using to my advantage. Also, I would wait until the end of the month when the dealers are more motivated to move a car to reach sales goals as opposed to making a huge profit. Let me know if this helps. I would be more than happy to provide the dealership names if you want to go that route.

    rajosmom
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