We live in Minneapolis and looked at the MDX and liked it. I knew about the 4k rebates for the 2008 so I emailed the sales person and told him what I wanted etc. I want a Sport and Ent package with about 1K in dealer accessories and obviously I want to pay invoice or below He told me the residual for the 2008 is 46%. He told me with 2K down and a a discount of 6k (42K for the sales price) would be $825 per month. I told him no money down and this is what he came up with. WHAT???. I currently have a Lexus GX470 loaded and pay way less than that. I then called another place and they told me the residual is 41%, then said 47%. Can someone help me??? I think I am being robbed. NO WAY I would take a deal like that. And I have not even agreed to the sales price. I want to pay under 40K...is this possible? Am I the one who is crazy or are they actually correct??? Can I get a better deal on a 2009 because of the residual??? PLEASE I beg of you for the love of PETE help me understand this.
I know how you feel. The residual value for 2008 MDX with 15k a year is 47%. I already ask 3 dealers in New York, only 1 sales person from another acura dealership told me the truth, this guy is very honest. I asked and compared the prices between August and September, last month's price was lot better. This sales person told me I should wait for the 2009 model because it has better residual value at around 57%, price should be better than the 2008, but Honda Financial has not release the leasing program to their dealers yet. I think we should wait for 2 more weeks. If the price for mdx is around 700 then I would rather go for Mercedes ML350 only at around 600. I am talking about no money down with tax roll into payments. pay only the 1st money and bank fee when picking up the car. hope this will help you.
My original plan was to purchase a new MDX - putting roughly 1/2 down in cash & financing the other 1/2. When speaking with the Financing manager - he suggested a pre-pay lease. The idea of leasing an SUV is attractive in the event that SUV values continue to plummet as gas prices continue to rise. Being a complete novice to leasing - can someone help me understand if this is a good option?
Long story short, these are basically the options - as presented to me - for an MDX Sport with $1200 in accessories and another $1500 in taxes/fees for a total price $40,600:
Option 1 = Purchase putting $21,500 down and finance the rest for a total of $43k (includes the financing interest).
Option 2 = $20,200 down & buy-out at $22,300 at the end of lease for a total $42,500.
Option 2 seems like a no-brainer based on the fact that I am OK with the down payment, but would like the option of not being tied to the SUV in case things really turn on SUV's.
Am I missing something? Are there risks to the lease or fees that I am not considering?
Thanks. SUV800. I agree with you we need to wait and see. I will never pay over $800 for an Acura. I mean no offense of course..because I think it is a great car and would be happy to drive one BUT, I can go back to my BMW X5 for that payment. I thought I could save money and get a god deal..Guess not!! My guy never said that the residual was anywhere near 57% for a 2009. Is that really true?? He said residuals were low all the way around. Please do tell about the Mercedes...did you get a quote??? I had a Mercedes (sedan) before my BMW X5 and enjoyed it...maybe I should take another looksy!! Hmmm...we need some help here. Carman..almighty leasing God...guide us with your expertise.
Car Man: When you say 'compatible with Honda Finance's Lease Program, do you mean one can get $4K with a lease from AHF or would it be $3K (and thus analagous with the previous $3500/$2500 with AHF)?
Furthermore, can you tell me the MF and Residual #'s for September for a 2008 MDX Base with 36 months at 15K miles and 42 months at 15K miles?
I am about ready to close the deal on a lease of a MDX Tech 48 mo/15k at 42% and .00265 MF and the dealer has included a $2000 due up front. Has anyone else seen such a high up-front cost? I know I'll have to pay first month (~$550) up front, but what is the other $1450? I've asked the salesperson to break that down for me but he has yet to do it.
I just got this lease deal on MDX with Tech/Ent package - $655/mo, 42 mo, sign and drive (zero down/tax/tags/first mo included). 43% Res,.00265 money factor and 15k/yr. What do you guys think?
Hi jacobm. What you were told is correct. Acura is not currently providing lease support on the 2008 MDX. If you want to lease one through Honda Finance, you will have to use the standard program that the dealer mentioned. That's the bad news. The good news is that this means you can use the $4,000 dealer cash that Acura is currently providing on the '08 MDX to negotiate a really low selling price on this truck.
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Hi appropriately named mdxfan5. Here's the information that you're looking for. You never mentioned how long a lease you want, so for now I will assume that you are interested in 36 months. 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 a base 2008 Acura MDX with 12,000 miles per year are .00270 and 51%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical lease of a base '09 MDX are .00270 and 54%.
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Hi mschissl. Unfortunately, Acura's lease program on the 2008 MDX is not very attractive right now. Its residual values are so so and it is not providing any lease money factor support on it right now. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Acura MDX with the Sport and Entertainment Packages and 15,000 miles per year are .00270 and 44%, respectively. The residual value for an otherwise identical lease with only 12,000 miles per year is 46%.
If you want to lease an '08 MDX right now, shoot for a selling price of $3,500 or so under invoice and see what happens. Unfortunately, I suspect that this lease program is so bad that you won't like the resulting monthly payment.
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Hi pem252. While Acura's lease program for the MDX is not very attractive right now, you're right a lease of one would protect you if SUV prices continue to fall in the future. 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.
Pre-paid leases are calculated the same way that regular leases are, but all of the monthly payments for the vehicle that you want are added up and the total is paid at signing. The main advantage of pre-paid leases is that while they are not interest free, most banks provide lessees who go this route with a discount in the money factor that is used to calculate the interest in exchange for making all of their payments in advance.
If you decide to go with the pre-paid lease, you should negotiate the selling price of the MDX that you want, just as if you were paying cash for or financing it. The selling prices of leased vehicles are negotiable. The lower a selling price you negotiate, the less expensive your pre-paid lease will be.
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Hi dannyfreed. Since Acura is no longer providing lease support on the 2008 MDX, the entire $4,000 dealer cash is now available on leased vehicles. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Acura MDX with 15,000 miles per year are .00270 and 49%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. This money factor would drop to .00255 for a 42 month lease.
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Hi jacobm. I am sure that you will be able to negotiate a discount on the MDX that you are interested in. If I was in the market for an '09 MDX right now, I personally would shoot for a selling price of $500 to $1,000 over invoice. You should be able to get additional feedback on how much you should pay for this truck right now by visiting the "Acura MDX Prices Paid and Buying Experience" discussion.
Here's the lease program info that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura MDX Tech with 10,000 miles per year are .00270 and 53%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
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Hello all. I've been considering several different vehicles to lease/buy lately. In doing so, I ran into (what I believe) is an incredible deal on a 'New' '07 MDX with Tech. Actually, it also has navigation, rear entertainment, power liftgate and $2000+ of accessories (siderails, upgraded steering wheel etc).
Total MSRP= $48,8xx. Selling Price= $37,995
I visited the dealership very late and could only get brief information. Sadly, the salesperson wasn't too knowledgable. I believe I can get them to lower the price a little. I was interested in leasing the vehicle because even with a so-so money factor, the residual should bode well with such a lowered selling price.
-How can I lease this vehicle? -If Honda finance is not running a special on '07's, could I go to the bank and lease it that way? -Would a lease like this make sense? -Is something like this feasible? (this is just me guessing mf/residual)
MSRP =$48,800 MSRP =$46,800 (without accessories if they can be residualized) Selling price =$37000 Residual at 3yr/44%= $20,592 (realistic residual?) Money factor = .00270 (realistic? going high just in case no special) Depreciation payment= $455 ($37000-20592= 16408/36) Interest payment = $155 (37000+20592 x .00270) Payment = $610 (not including tax)
I was hoping someone out there could help me to evaluate the terms of my lease deal in order to figure out if its a good one for me to move forward with. Im new to the financial aspects of this stuff (the ex used to do it), but dont want to get "taken" by the dealer...
I am looking at a 2008 MDX with the tech package, sport running boards, cargo mats. The costs I was able to negotiate in NY are:
MSRP: $45,005 Vehicle Cost: $40,901 total selling Price: $37,688 total cap cost: $37,587 Cap reduction$3,056 Owed trade: $469 Retention Rate: 0.00265
Total Initial Charges: $3,855 Monthly Payment: $543 10k miles per year 42 month lease
Any help you can offer is VERY appreciated. I've been trying to read the other posts, but have been a little confused. Should have got an MBA and not a degree in English Literature!! Thank you.
I just leased a 2008 MDX tech package with sport running boards, roof rack, & cargo mats. I paid $1000 down and $609 per month tax included for a 36 month/12K miles lease. I'm in South Florida. I feel I got a good deal, as I definitely shopped one dealership against another. Hope this helps! Love the car it's fantastic!!
I too got a letter from Honda asking if we'd be willing to extend our lease. We have a 2005 MDX lease that ends at the end of this month. We've been denying the fact that we have to start shopping for a new car during this awful financial time and would actually love to extend our lease (a few months). I'm assuming their motivation has to do with the economy/gas/and lease losses...so, does anyone think there might be a little room for negotiation? For instance, extend our lease another 6 months if we can get it for $100 less a month?? I'm almost positive they will lose more money if we turn it in on time then if they give us the above adjustment, but we're terrible negotiators and would really, really appreciate any input/info/advice! Thanks!
Hi madf. You don't have anything to lose by trying, but I highly doubt that Honda will lower your monthly payment if you choose to extend your lease. Most banks that allow lease extensions force consumers to keep the same payment. Again, it's worth a shot, but I doubt that it will work. If it actually does, make sure to stop back and let us know. Thanks.
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Hi kevin34. The $4,000 cash incentive that is available on leases of the 2008 MDX outweighs the lease support and better money factor that are available on the 2009 model. If you want to lease, you probably will be better off going with an '08 MDX at this point.
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let us know what terms you work out. im very curious bc the best i can get on the 08 tech package w/ running boards is $3100 down (including taxes, fees, first month, etc) and $549 per month for a 42 month lease. not sure if things are more expensive in nyc, but this seemed high to me...
Im in the market to lease an 08 MDX w/technology pkge for 42 months, with $2500.00 down and 15k per year (mileage). Been shopping dealers in NY/NJ area and I have been getting some crazy prices. Dealers have been in the area of $688 to $630 per month. The problem from what I am being told is that due to the $4000 incentive the 08's are limited. In addition, I had a dealer give me a price of $590 for a vehicle that they had on the lot but deal fell through. Not sure if im getting the run around. At this rate, I may have to wait for something with the 09, but the $4000 is hard to pass on.
Here you go, 03qx. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura MDX with the Sport and Entertainment Packages and 15,000 miles per year are .00247 and 47%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
The numbers for an otherwise identical lease of an '08 model are .00290 and 44% (ouch). On the bright side, there is $4,000 dealer cash available on the '08 model that can be used to negotiate an attractive capitalized cost for your lease.
If you were to lease with only 12,000 miles per year, the above residual values would be 2% higher.
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Hi haggleman. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura MDX with the Tech Package and 12,000 miles per year are .00247 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The 48 month numbers are .00290 / 44%.
The numbers for an otherwise identical lease of an '08 model are .00290 / 49% for 36 months and .00290 / 40% for 48 months. Both are compatible with $4,000 dealer cash.
If you were to lease with only 10,000 miles per year, add 1% to the above residual values.
I personally would rather start my new lease with a clean slate than continue to pay interest on the excess mileage charges from a previous lease, but you can roll the charge into your new lease if you want to.
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hey there. im picking up (tomorrow) a 2008 mdx and getting it in westchester, ny. im getting 12k miles per yr on a 42 months lease for the tech package with the sport running boards/nav and floor mats. paying $3100 down (include taxes, bank fee and first month) with DMV fees not included in that. monthly rate is $559.
I am in NC, and looking at a 2009 MDX with Tech and 1200 of options.the price is 45600, they want 4000 up frount and a 50% residual and a factor of .00247 and I want 15k mi per year. do this all sound fair?
It sounds like your total payments over 3 years is going to amount to somewhere around $30k. That sounds like a terrible deal to me. I'm not saying that you can necessarily do better, as the MDX doesn't sound like it's leasing very well right now (terrible residuals and money factors).
Anyhow, a good rule of thumb in my opinion is that the total of all payments over 3 years should not total more than around 50% of the MSRP of the vehicle (before tax). With the MDX, this is simply not possible due to the poor residuals and money factor offered by Acura right now. It really depends on how much you want an MDX in the end. I would look at another vehicle if I were you though. There is no way I would personally pay $30k to rent a $46k car for 3 years and then hand it back to Acura. You're better off buying the car if you can swing the extra couple hundred a month. At least you can turn around and sell the car in 3 years and come out much further ahead.
Just my $.02
P.S. The Lexus RX is leasing MUCH better than the MDX right now if you check the RX Lease forum
I am an avid follower of your posts on here...and finally ready to purchase/lease an Acura MDX.
Looking at the future outlook of SUVs and the economy, I am confused between purchasing or leasing a new MDX. I am not sure what the market for SUVs be like in the next 2-3 years. Hence, I am leaning towards leasing one. What do you think?
I know you have already posted lease numbers for Tech. Pkg and Sport/Entertainment package. I am interested in Sport only Pkg. Could you please post 2008/2009 MDX Rate/Residuals with the Sport Only Pkg. 36 Months 12K and 15K Miles.
Thanks for reading, neeepeee. It is difficult to say what the market for SUVs will be like several years from now. As you are probably well aware, earlier this year the price of gas spiked as oil approached $150/barrel. This caused consumers to flee SUVs for smaller, more fuel efficient vehicles. However, as the economy slows, the price of oil has been cut in half and the price off gas fell significantly. Theoretically this should cause the demand for SUVs to pick back up. However, I believe that a lot of the trendiness of owning an SUV has warn off. I doubt that they will ever regain their former popularity.
As long as the economy recovers by then, and I sure hope that it does, the market for SUVs will likely be better two to three years from now than it is today...but I doubt that they will ever regain their former level of popularity. If I was in the market for an MDX right now, I personally would probably lease one as well.
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura MDX with just the Sports Package and 15,000 miles per year are .00247 and 47%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical lease of an '08 model are .00290 and 45%. Don't forget the four grand dealer cash that is available on the '08.
If you were to lease with only 12,000 miles per year, the above residual values would be 2% higher.
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Does it make sense to wait for November or possibly December to see if the lease numbers get better? Or Should I go for it now? I am prepared to close a deal now or in the next month or so; however, I am in no rush...I definitely want to close a deal before christmas.
But, there are mixed feelings out there as to the dealer incentives and also the effect of the economy on car leasing for the next couple of months? Any thoughts?
What's the residual factor on this car? I see from the other posts that the money factor is .00290. I was told in September it was 54% I would imagine it is less now.
Also, is there typically a disposition fee on this vehicle at the end of the lease?
No problem, neeepeee. It is always difficult to predict what manufacturers will do with their future lease programs. but if I had tot make an educated guess at this point I would say that Acura's lease program for the 2008 MDX will be worse than it is now in November and December, but its program for the 2009 model will be better. Again though this is just a guess.
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Hey Kevin. Honda Finance's lease program for the MDX varies by trim level, term and mileage allowance. Since you never mentioned what any of these variables are, for now I will make some assumptions. Let me know if you want the info for a different combination.
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Acura MDX with 15,000 miles per year are .00290 and 49%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. When negotiating your lease on this truck, make sure to take advantage of the $4,000 cash incentive that Acura is currently providing on it.
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Looking to lease a 2009 MDX with tech package with running boards. Got offered $690 per month (36 months) with 2100 in fees up front (DMV, tax, first month). Is that a good deal? Sounds high.
Extremely. I would hope the lease numbers get better, I think they will. I'm looking to lease a base by the end of the year so I'm keeping my fingers crossed.
Here you go, Lokesh. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura MDX Tech and Entertainment with 15,000 miles per year are .00178 and 48%, respectively for consumers who qualify for its "Super Preferred" credit tier.
The 2008 model's lease program is much worse at .00290 and 44%, but Acura is providing $4,000 dealer cash on it which can be used to negotiate a low capitalized cost.
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Hi kevin34. I agree with the salesperson that you spoke with. There is probably a good chance that Acura will enhance its lease program on the MDX in December.
Vehicles' residual values are based upon a percentage of their full MSRPs, including any options that can be residualized and the destination charge.
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Greetings neeepeee. The money factor that you were quoted is right in line with Honda Finance's buy rate for this model. That is a good sign. Let's take a look at the selling price. The dealer invoice price for a 2009 Acura MDX with only the Tech package is currently $41,503. The selling price that you were quoted is only $400 over that, which is a good deal.
If you like the MDX, I personally don't see any reason not to pull the trigger on this deal.
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Got offered the following deal. Please let me know your thoughts. 2009 MDX with Tech and sport running boards. 36 months and 12k miles. $659 per month (incl taxes) and 1700 at signing (dmv fees, 1st month, etc.)
Comments
I know how you feel.
The residual value for 2008 MDX with 15k a year is 47%. I already ask 3 dealers in New York, only 1 sales person from another acura dealership told me the truth, this guy is very honest. I asked and compared the prices between August and September, last month's price was lot better.
This sales person told me I should wait for the 2009 model because it has better residual value at around 57%, price should be better than the 2008, but Honda Financial has not release the leasing program to their dealers yet. I think we should wait for 2 more weeks.
If the price for mdx is around 700 then I would rather go for Mercedes ML350 only at around 600. I am talking about no money down with tax roll into payments. pay only the 1st money and bank fee when picking up the car.
hope this will help you.
My original plan was to purchase a new MDX - putting roughly 1/2 down in cash & financing the other 1/2. When speaking with the Financing manager - he suggested a pre-pay lease. The idea of leasing an SUV is attractive in the event that SUV values continue to plummet as gas prices continue to rise. Being a complete novice to leasing - can someone help me understand if this is a good option?
Long story short, these are basically the options - as presented to me - for an MDX Sport with $1200 in accessories and another $1500 in taxes/fees for a total price $40,600:
Option 1 = Purchase putting $21,500 down and finance the rest for a total of $43k (includes the financing interest).
Option 2 = $20,200 down & buy-out at $22,300 at the end of lease for a total $42,500.
Option 2 seems like a no-brainer based on the fact that I am OK with the down payment, but would like the option of not being tied to the SUV in case things really turn on SUV's.
Am I missing something? Are there risks to the lease or fees that I am not considering?
Thank you for your help!
Furthermore, can you tell me the MF and Residual #'s for September for a 2008 MDX Base with 36 months at 15K miles and 42 months at 15K miles?
Thanks
I've asked the salesperson to break that down for me but he has yet to do it.
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If you want to lease an '08 MDX right now, shoot for a selling price of $3,500 or so under invoice and see what happens. Unfortunately, I suspect that this lease program is so bad that you won't like the resulting monthly payment.
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Pre-paid leases are calculated the same way that regular leases are, but all of the monthly payments for the vehicle that you want are added up and the total is paid at signing. The main advantage of pre-paid leases is that while they are not interest free, most banks provide lessees who go this route with a discount in the money factor that is used to calculate the interest in exchange for making all of their payments in advance.
If you decide to go with the pre-paid lease, you should negotiate the selling price of the MDX that you want, just as if you were paying cash for or financing it. The selling prices of leased vehicles are negotiable. The lower a selling price you negotiate, the less expensive your pre-paid lease will be.
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Thanks for your help!!
Here's the lease program info that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura MDX Tech with 10,000 miles per year are .00270 and 53%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
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Total MSRP= $48,8xx.
Selling Price= $37,995
I visited the dealership very late and could only get brief information. Sadly, the salesperson wasn't too knowledgable. I believe I can get them to lower the price a little. I was interested in leasing the vehicle because even with a so-so money factor, the residual should bode well with such a lowered selling price.
-How can I lease this vehicle?
-If Honda finance is not running a special on '07's, could I go to the bank and lease it that way?
-Would a lease like this make sense?
-Is something like this feasible? (this is just me guessing mf/residual)
MSRP =$48,800
MSRP =$46,800 (without accessories if they can be residualized)
Selling price =$37000
Residual at 3yr/44%= $20,592 (realistic residual?)
Money factor = .00270 (realistic? going high just in case no special)
Depreciation payment= $455 ($37000-20592= 16408/36)
Interest payment = $155 (37000+20592 x .00270)
Payment = $610 (not including tax)
Other comments/suggestions?
For example here in Southern California I was offered a bramd new 2008 MDX with Tech + Ent pkg NO acc for ~38xxx
2007 is STILL a two year OLD car...even if it has 0 miles
Take a look at carsdirect.com...and see how much new are selling for and what you really need.
Hondaacuraworld.com seem to have good prices for acc....
I am looking at a 2008 MDX with the tech package, sport running boards, cargo mats. The costs I was able to negotiate in NY are:
MSRP: $45,005
Vehicle Cost: $40,901
total selling Price: $37,688
total cap cost: $37,587
Cap reduction$3,056
Owed trade: $469
Retention Rate: 0.00265
Total Initial Charges: $3,855
Monthly Payment: $543
10k miles per year
42 month lease
Any help you can offer is VERY appreciated. I've been trying to read the other posts, but have been a little confused. Should have got an MBA and not a degree in English Literature!! Thank you.
I'm almost positive they will lose more money if we turn it in on time then if they give us the above adjustment, but we're terrible negotiators and would really, really appreciate any input/info/advice! Thanks!
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I'd like to get a base for $450 a month with $1k cap cost reduction with TTL paid up front.
Any feedback greatly appreciated.
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any thoughts are welcome. thanks.
Could you please post 2008/2009 MDX Rate/Residuals with the Sport/Entertainment package.
36 Months w/ 12000 & 15,000 Miles.
Thanks..
Please post 2008/2009 MDX Rate/Residuals with the Tech/PTG package.
36 and 48 months w/ 10,000 & 12,000 Miles.
Thanks.
Also, I have a 2006 MDX with the lease up, I owe $1,300 in mile overage. Should I roll that into my new lease?
What should I expect in the Houston area to pay for a 2008 MDX with Tech/PTG?
And is the $4k dealer cash factored into that price?
Im in the market to lease an 08 MDX w/technology pkge for 42 months, with $2500.00 down and 15k per year (mileage). Been shopping dealers in NY/NJ area and I have been getting some crazy prices. Dealers have been in the area of $688 to $630 per month. The problem from what I am being told is that due to the $4000 incentive the 08's are limited. In addition, I had a dealer give me a price of $590 for a vehicle that they had on the lot but deal fell through. Not sure if im getting the run around. At this rate, I may have to wait for something with the 09, but the $4000 is hard to pass on.
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The numbers for an otherwise identical lease of an '08 model are .00290 and 44% (ouch). On the bright side, there is $4,000 dealer cash available on the '08 model that can be used to negotiate an attractive capitalized cost for your lease.
If you were to lease with only 12,000 miles per year, the above residual values would be 2% higher.
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The numbers for an otherwise identical lease of an '08 model are .00290 / 49% for 36 months and .00290 / 40% for 48 months. Both are compatible with $4,000 dealer cash.
If you were to lease with only 10,000 miles per year, add 1% to the above residual values.
I personally would rather start my new lease with a clean slate than continue to pay interest on the excess mileage charges from a previous lease, but you can roll the charge into your new lease if you want to.
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hope this helps and good luck!!!!
It sounds like your total payments over 3 years is going to amount to somewhere around $30k. That sounds like a terrible deal to me. I'm not saying that you can necessarily do better, as the MDX doesn't sound like it's leasing very well right now (terrible residuals and money factors).
Anyhow, a good rule of thumb in my opinion is that the total of all payments over 3 years should not total more than around 50% of the MSRP of the vehicle (before tax). With the MDX, this is simply not possible due to the poor residuals and money factor offered by Acura right now. It really depends on how much you want an MDX in the end. I would look at another vehicle if I were you though. There is no way I would personally pay $30k to rent a $46k car for 3 years and then hand it back to Acura. You're better off buying the car if you can swing the extra couple hundred a month. At least you can turn around and sell the car in 3 years and come out much further ahead.
Just my $.02
P.S. The Lexus RX is leasing MUCH better than the MDX right now if you check the RX Lease forum
I am an avid follower of your posts on here...and finally ready to purchase/lease an Acura MDX.
Looking at the future outlook of SUVs and the economy, I am confused between purchasing or leasing a new MDX. I am not sure what the market for SUVs be like in the next 2-3 years. Hence, I am leaning towards leasing one. What do you think?
I know you have already posted lease numbers for Tech. Pkg and Sport/Entertainment package. I am interested in Sport only Pkg. Could you please post 2008/2009 MDX Rate/Residuals with the Sport Only Pkg. 36 Months 12K and 15K Miles.
Thanks a lot in advance!
As long as the economy recovers by then, and I sure hope that it does, the market for SUVs will likely be better two to three years from now than it is today...but I doubt that they will ever regain their former level of popularity. If I was in the market for an MDX right now, I personally would probably lease one as well.
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura MDX with just the Sports Package and 15,000 miles per year are .00247 and 47%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical lease of an '08 model are .00290 and 45%. Don't forget the four grand dealer cash that is available on the '08.
If you were to lease with only 12,000 miles per year, the above residual values would be 2% higher.
Car_man
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Does it make sense to wait for November or possibly December to see if the lease numbers get better? Or Should I go for it now? I am prepared to close a deal now or in the next month or so; however, I am in no rush...I definitely want to close a deal before christmas.
But, there are mixed feelings out there as to the dealer incentives and also the effect of the economy on car leasing for the next couple of months? Any thoughts?
What's the residual factor on this car? I see from the other posts that the money factor is .00290. I was told in September it was 54% I would imagine it is less now.
Also, is there typically a disposition fee on this vehicle at the end of the lease?
Many thanks!
Car_man
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Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Acura MDX with 15,000 miles per year are .00290 and 49%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. When negotiating your lease on this truck, make sure to take advantage of the $4,000 cash incentive that Acura is currently providing on it.
Car_man
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Could you post November 2008 lease buy rates and money factor for 2008 and 2009 MDX Tech and Entertainment pkg models with 15000 miles per year?
Appreciate your help.
Thanks,
Lokesh
Could you please post 2008/2009 MDX Rate/Residuals with the Sport Only Pkg. 36 Months 12K and 15K Miles for NOVEMBER?
Also, any dealer incentives for 2008 Models in November?
Thanks.
Question: when calculating the residual do you take into account the destination charge?
Thanks
I just visited a dealer and received below numbers for a 2009 MDX Tech. for 15K miles/36 months:
Selling price : 41900
Residual : 51%
MF : 0.00178
Is this a good deal? Should I wait more to see if the numbers get better? Are the above residual and MF same as released by AHFC?
The 2008 model's lease program is much worse at .00290 and 44%, but Acura is providing $4,000 dealer cash on it which can be used to negotiate a low capitalized cost.
Car_man
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Vehicles' residual values are based upon a percentage of their full MSRPs, including any options that can be residualized and the destination charge.
Car_man
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If you like the MDX, I personally don't see any reason not to pull the trigger on this deal.
Car_man
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