2013 and earlier-Acura MDX Lease Questions

numbnuts1

Please consider giving me your advice.

Three years ago, I leased a 2005 MDX Touring for 36 months, putting a bunch of money down (like $3500) and getting 15,000 miles for a payment of $452 a month, all in. It would cost me $25,000 to buy it, which I don't want to do, but the wife wants another (it's our only car).

Reading these posts, it looks like I should be negotiating a price under invoice. But since I don't want to pay anything now (and when I first leased the 2005, I paid a bunch), won't the dealer just squeeze me into a deal that pegs me at the same sort of payment? I just don't understand the money factor and residuals that people refer to on this board - is that just a way for the dealers to hide costs? I'd think with SUV sales tanking, and the $2500 incentive, I should be able to do better, but how do I work it with the dealer if they know just what I am paying from turning in the old car?

I am seriously thinking about extending my existing lease for a few more months to see what happens in the market.

I'd appreciate your thoughts and input.

thechairman1

Looking to lease a 2008 MDX soon. What is the current lease rate and residual for a 36 mth, 12,000 mi/yr lease of the 3.7 with tech and entertainment package? Are there any rebates being offered on leases?

Many thanks.

CarMan@Edmunds

Hi enthusiastdre. This vehicle's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of an '08 Acura MDX Tech with 15,000 miles per year are .00245 and 52%, respectively. When negotiating your lease make sure to take advantage of the $2,500 dealer cash that is available on this model.

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njdealneeder

Hi Car man,
Sorry to do a double take-
1. Is the 2500 available for leases or just purchases not using Acura financing? Last month the 2000 was not available for leases, so I just want to make sure I'm in the know when negotiating.

2. Did Acura really jack the MF up to .00245 from the .0018 last month, while dropping the residual by 1%?

Thanks!!

CarMan@Edmunds

Hi enthusiastdre. Acura is still providing lease support on the 2008 MDX. In fact, its new July program is better than its June program was. It probably just pulled the advertised payment off of its site temporarily when the new program was introduced on the 8th.

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CarMan@Edmunds

Hey zkaudio. Acura's July lease program for the 2008 MDX that it introduced on the 8th is actually better than its June program was. This month the MDX's money factor is a little higher, but the $2,500 dealer cash that is available on it can be used to reduce the capitalized cost of leased vehicles.

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CarMan@Edmunds

Hi jmcdermott1. What you were told about this truck's money factor is correct. It is now .00245 for 36 months for consumers who qualify for Honda Finance's "Super Preferred" credit tier and pay a security deposit at lease signing. This is higher than the .00180 money factor that was available on the MDX last month, but its new July lease program is actually better because consumers can now use the $2,500 dealer cash that is available on it to reduce the capitalized cost.

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CarMan@Edmunds

Hey enthusiastdre. The money factor is .00245, but the advertised lease is better because Acura is now allowing consumers to use the MDX's $2,500 dealer cash on leases.

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CarMan@Edmunds

Hi numbnuts1. It sounds as though you do not fully understand how leasing works. It would be in your best interest to 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. Let us know if you have any questions after you check them out.

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CarMan@Edmunds

Here's the information that you are looking for, thechairman1. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 MDX with the Tech and Entertainment Packages and 12,000 miles per year are .00245 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The $2,500 dealer cash that Acura is currently providing on the '08 MDX can be used in conjunction with this program.

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kp22

Car man,

I am currently in negotiations with an upstate NY dealer on a 2008 MDX w/ Sport & Entertainment. The lease terms I am requesting are 36 months with 10,000 miles per year. They have quoted me a 51% residual and a .00245 money factor which seem consistent with other posts. At this point they have agreed to the edmunds.com TVM of $43,163 for a cap cost. I would like to apply the $2,500 dealer cash rebate towards the cap cost to further reduce my payment. The dealer is saying that the $43,163 listed on edmunds includes the $2,500 rebate. I do not believe this to be true. Can you please confirm? Also, can you please refer me to somewhere that describes the terms of the rebate? I appreciate your assistance. Thanks!

mndavemn

Just got quoted $630/month for 36 months, 15k milles/year, $4,100 cash due at signing. This is for a new 2008 MDX with tech, trailer, and roof rails. Is there wiggle room or is it as good as it gets? Thanks in advance! :shades:

mickey95

I'm new to the lease process and was wondering if anyone has a valuable advise in regards to the best time of the year to lease. Would I win or loose by waiting till August or September to lease or should I use the program currently available for the month of July. I'm interested in leasing Acura MDX (base model). So far I've been getting the following quote: 36 month, 12,000 miles, $1350 down in fees (bank and motor vehicle fees + 1st payment) which will cost me $525 per month. Any advise would be greatly appreciated. Thanks.

argento

I just received the following offer, here in San Diego.
36 mo lease 12k/yr for a 2008 MDX Base model with luggage rack pkg:
Lease Price including Luggage Rack PKG = $35,228 + 795 = $36,023
Money Factor = 0.00245 {tier one credit}
Residual = 22,500.50
Min. Drive offs = 1,517.47
PAYMENT = $519.01 + tax

Basically, this is $2,000 below invoice, which translates to a $500 profit for the dealer when you apply the $2,500 dealer incentive.

Is this a good deal? The drive offs seem a bit high.

mndavemn

couldn't get anywhere with price negotiations so i ended up buying a different make. best of luck acura, maybe i'll see you in another 3 years...

regatta4

I appreciate the input that everyone provides on this site. It helped me negotiate a decent lease last night. I leased a standard MDX for 36mo 12K/yr. $2000 total down (includes first month payment) and $480/month payment (pretax). (Makes sense to use the pretax number her because everyone pays at different rates depending on origin.)

njmdx

Car Man,

Could use some advice here -- my 2006 MDX lease is up in February. My lease was for 36k miles and I am now at 33,500. Just checked the terms of my lease and my over-the-limit penality is $.25 per mile. So I figure I will go over by October and by Feb I may be as much as 4000 miles over the limit.

What are my options? I don't want to buy the car.... can i buy extra miles now at a lower price? what do you recommend?

thanks

mikenau

Does anyone know if the new $3500 MDX dealer incentive (Acura is offering from 8/1 - 9/2) can be applied to leases as well?

In an email exchange with a dealer I was quoted a purchase price including the $3500 incentive, but was told the lease purchase price would be $1000 higher. Sounds like the dealer was indicating only $2500 of the incentive can be applied to leases.

Thanks,
-Mike

sleepysoo

hey, i'm not totally up to date on the current rates and all, but i have an 08 tech and i am currently paying $600/month (that's including tax of 8.25%), paid only $1500 (only about $400 went towards the car from this amount) out the door, for 12k miles/year for 36 months. I got mine almost a year ago (when it first came out). I would probably pay for the trailer and roof rails out of my own pocket instead of rolling it into the lease. also, i think you can negotiate those down. maybe you can get a little better price? i dunno..monthly doesn't look bad, but the out of pocket amount seems kinda high...

soccerandlost

We leased a 2008 Acura MDX w/ Tech & PTG yesterday for 36 mos./10k miles at $527/mo. with $0 drive-off (after CA 8.25% tax the pymt is $571) at Acura 101 West in Calabasas CA. MSRP was $44,960 inc. destination charge. Actual cap cost was ~$36k (w/ fees TTL ~$37k). 54% residual w/ 10k lease, money factor is .00245.

If you want to put $$$ down, it looks like this package can be had for about $450/mo (plus tax) with about $2999 out-of-pocket, which covers bank fees, TTL, 1st mo., and a small cap cost reduction. But we chose not to pay down the cap cost and to roll the fees, 1st mo. and TTL into the financing; hence the higher monthly payment.

Was told the $3500 dealer cash is for non-AHF sales or leases. Through AHF (which is how we did it), you can get $2500 dealer cash. You can also eat into the dealer holdback.

Highly recommend Acura 101 West for those in Southern Cal. It was a painless process, much of which was accomplished by email and over the phone.

CarMan@Edmunds

Hi kp22. The market for new vehicles, particularly SUVs is absolutely dead right now. I suspect that you should be able to get an outstanding deal on the MDX that you want. If you are in an area that has a decent level of competition, I suspect that you will be able to negotiate a selling price of a couple hundred dollars over dealer invoice minus the dealer cash. You can look up the exact invoice price of the model that you want over in the New Vehicle Pricing section of Edmunds.com.

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CarMan@Edmunds

Hi mickey95. Right now is a pretty good time to lease a 2008 Acura MDX. The 2009 model is already out, so at some point Acura is going to pull the plug on its special lease program for the '08 model. By waiting to lease, you risk missing out on the current special lease program (which runs through September 2nd).

I see that you mentioned the monthly payment of the MDX that you are interested in leasing, but never said anything about its selling price. Remember that the selling prices of leased vehicles are negotiable. It is difficult to tell if you are getting the best possible deal on the truck that you want without knowing how much you are being charged for it. Try to negotiate a selling price that's as close to dealer invoice minus the cash incentives as possible.

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CarMan@Edmunds

Congratulations on getting your new MDX, regatta4. Thanks for taking the time to share the details of your lease with everyone. Make sure to hop on over to the Dealer Ratings & Reviews section to share your thoughts on your recent dealer experience with everyone. Enjoy your new ride :shades: !

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CarMan@Edmunds

Hi njmdx. Unfortunately, you may not have a whole lot of options here, other than trying to drive less in your MDX. You certainly can try giving Honda Finance a call to see if they will be willing to sell you additional miles at a lower price at this point. It's worth a shot, but I suspect that they will say no. You definitely do not want to purchase your leased SUV. The values of used ones have dropped considerably since you signed your lease several years ago.

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CarMan@Edmunds

Hi Mike. I believe that what you were told is correct. There is a $2,500 incentive on MDXs that are financed or leased through Honda Finance and $3,500 on MDXs that are financed through independent banks or paid for with cash.

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CarMan@Edmunds

Congrats on getting your new MDX, soccerandlost. Thanks for taking the time to share the details of your lease and offer advice to other community members. I'm glad to hear that you had a pleasant dealer experience. You may want to stop by the Dealer Ratings & Reviews section of Edmunds.com to tell everyone about your experience. Enjoy your new MDX .

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yacomrade1

Picked up the MDX yesterday. I dealt with three different dealers, this past week: Brunswick-OpenRoad; Springfield; and Bridgewater, all in central NJ (mostly by phone, since it's much less pressure and it allowed me to validate any of their claims while on the phone, since I had easy access to the internet). Bridgewater Acura matched the best price I had, and more importantly had my color preference (in stock). I thought about waiting a few more weeks til the end of August, since my current lease expires near month end, but wanted to be sure to get this color combo.

2008 Base, white/taupe
36 mos
15K/year
1850 in bank/doc/dmv fees (paid up front, includes 1st month)
includes Sport Running Boards installed
535/month (includes 6% NJ sales tax)

Just to share my experience... to help others... as I was helped by this forum. Good luck shopping.

soccerandlost

Thanks, Car_man. I didn't know about that section of the site, but I did just leave a review. Good to know for future reference as well.

In a world where most web forums over-sell and under-deliver, this site is an invaluable car shopping resource. I very much appreciate everyone's input (which helped me get what I think is a great deal), and in particular Car_man's input and information.

p6nc

2008 MDX w/ Tech/Ent and Power Tail (I think they all have it now)
Silver/Black
Roof Rails + sport running boards
All weather mats
36 mths / 12k yr
Lease price $40250
residual $24445
MF .00245
$1120 out-the-door = first mth, + docs and title

$615 mth w/o tax, $633 w/ tax

Thanks to all of you who have posted with all the info, It enabled me to get a much better deal that I would have otherwise.

Reading the rest of the board this looks like a good enough deal, unless I missed something. Good luck everyone...

lois14

I wish to lease a 2008 MDX base at 12,000 miles with two additions: remote start and back up sensors. I wanted a 36 month lease but was told yesterday it would be cheaper to go with 27 month. I was offered $1995 down + $499 monthly including taxes. They said 36 month would be $1995 down + $527 monthly. Are these good deals right now or can I do better? All advise is appreciated!

vbinnc1

Hi
Would you mind sharing the name of the dealership?

Thanks.

ballhogg

I was over by about 15,000 miles at the end of my lease ($.10/mile) back in February so I feel your pain. If you're planning to lease another Acura/Honda you can contact AHFC and they will knock off some of the mileage charges - they gave me over $1200 which helped big time. Otherwise, just pay the mileage charges because there really isn't much you can do.

nclaudia

Just bought home my 2008 MDX with Tech package/Auto door lift, Sport Running Boards & Roof Rack.
I am doing a 36/12K lease put down $1400 and am paying $609 tax included. I am hoping I got a good deal but it's hard to find out. Anyone have any idea?? I live in Florida. Please respond if you have any info. as to how I did in my negotiations.
Thanks

daveed1

How did this work out for you? I'm in a similar situation now. Thanks.

CarMan@Edmunds

Thanks for taking he time to give back and share the details of your new lease with everyone, yacomrade1. If you want, you can also stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Congrats and enjoy your new ride :shades: !

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CarMan@Edmunds

You're very welcome, soccerandlost. Thanks you for leaving a review. Testimonials about dealers are very helpful for consumers who are trying to decide where to buy their new vehicle.

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rubicon4

Car_man,

Do you know the current residual and money factory on an 08 MDX w/ Power Tailgate and Tech Pkg for a 36 month/10k miles lease?

Thank you!

soccerandlost

I just got the exact same car on the exact same lease terms 2 weeks ago. Residual Value was 54% and Money Factor was .00245.

brendanm14

Need to replace my 4Runner which is coming up on end of lease in 3 weeks....looking at an MDX in the Chicago area and dealers seem to have TONS of them on the lot. Anyone think the MF will go down if I wait until after the Summer Sale ends Sept. 2?

soccerandlost

Sure, Rubicon4. I got the MDX w/ Tech and PTG on a 3 yr/30,000 mile lease:
- Total Cap Cost (incl. tax, title, license, destination fee, bank fees, and 1st mo because I drove off for $0) was $36,863.61 (actually it was $37,824.64, but the dealer picked up the $960.83 in drive-off costs that otherwise should have been due, so for these purposes I have deducted that amount from the Cap Cost).
- Residual = 54% residual.
- Money Factor = .00245 (ie, 5.8%)
- Drive-off = $0 (ie, no cap cost reduction, etc.)
- Monthly payment = $527.82 pre-tax ($571.37 after CA 8.25% tax)
- Included: wheel locks, mats, phantom footprints

CarMan@Edmunds

Hi rubicon4. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura MDX Tech with 10,000 miles per year are .00245 and 54%, respectively.

When negotiating your lease on this truck, make sure to take the $3,500 dealer cash that is available on it into account. It will help you to negotiate an attractive capitalized cost.

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CarMan@Edmunds

Hi brendanm14. Acura's lease money factor on the 2008 MDX is not that great right now, but it does have cash incentives on leases of it. It is difficult to say what its September lease program will be like on the '08 MDX. If I had to make an educated guess, I would say that Acura's special money factor for it will not get any better...but it is always difficult to predict exactly what automakers will do with their future incentives.

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peterpan223

Hello Car_man

I'm looking to lease the '08 w/ Tech pack and PTG.

Can you elaborate on the $3,500 dealer cash please?

I was initially offered $39,000 for the car, $2,000 drive off, 3 yrs, 10,000 mile/yr, around $560+tax.

peterpan223

I'm looking into the same exact option and lease terms as you.

Would you mind telling me which dealer you got your car from?

And let me clarify. so you did not pay any drive-off?
Just the monthly payment? no money at all at the sign in?

tia

maf1

Hello Car_man

I just made a phone deal for an 08 mdx that includes the dealer giving me $ from an outstanding lease with Mercedes.
I have 2 months left on a Mercedes lease (750/month now) and wanted to get an 08 mdx now while the deals are good and eat those two months. The dealer gave me the following offer;

08 mdx tech/tailgate
No $ down,
39565 +760 destination=40325 $
36 month lease, 15K per year 636 + tax
48 mo lease, 15 K per year 616+ tax
mf 00245
residual 51%
plus they will cut me a check for 1500$ which is the last two months payment on the other car

Thus the cost of the car is 38045 (401$ below invoice factoring in the 2500 dealer $) factoring in the 1500 check. Ideally, I’d like to get the 1500$ to reduce the cost of the car for lower monthly payments. I have not heard of getting a check like this, any advice on the deal?

Is that 2500$ cash to the dealer the acutal number?
Thank you for all your help

CarMan@Edmunds

Hello peterpan223. If you haven't leased your MDX yet, you're in luck. For September, Acura increased its dealer cash on it to $4,000. This dealer cash is compatible with Honda Finance's lease program.

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CarMan@Edmunds

Hi maf1. You're in luck if you haven't finalized this deal. Acura raised its dealer cash on the 2008 MDX to $4,000 in September. This dealer cash is compatible with Honda Finance's lease program for this truck. So not only will you have to pay one less remaining payment on your Mercedes, but you also will get a better deal on your new truck.

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jacobm

I too am trying to lease an 08 with tech and pl and was just told by my dealer the money factor and residual have changed to
50% and .0028 respectively so even with the increased discount the price stays the same

Does this make any sense at all or was she just trying to shake me off when she felt the deal was too good?

jacobm

anyone know when the 2009 gets to the dealers?

mdxfan5

Hi Car_Man,

Could you please tell me what the current residual is for a 2008 MDX Base with 12,000mi/year?

Also, do you have any idea what to expect in terms of lease prices for the 2009 models?

Thanks so much!