2013 and earlier-Acura MDX Lease Questions

EnronX

Hey guys, I haven't seen nearly as much on the 2009 deals...Here's the offer I got today at my local dealership.

2009 with the Tech Package -- from $44,700 down to $42,100 (dealer says they are only making $150 over invoice).
36 month lease the promo .90%, 12K miles with $0 down is for $733 per month.
The Acura.com ad shows that it's possible to get a 36 month lease for $499 per month so I'm still not sure how they can advertise such a low figure? Tax and fees weren't exactly made clear to me.

First payment due is $777 and $713 every month afterwards

Also, I was told that the 50% residual value for the lease calculation is non-negotiable, is that truthful?

I can't afford $700 for a new MDX but might be able to stretch to $550...any tricks out there to possibly make this work?

By the way, I test drove the Pilot (Touring edition) but wasn't overly impressed and would probably rather go with the 2009 Mountaineer since i can get into one for $500 on a lease.

kevin34

Hi Car Man,

Ok, it's crunch time for me. I have about 3 weeks to seal a lease deal on an '09 MDX.

A local dealer is running the following special on an '09 Base:

$549 a month/36 months/10k a year
Due at signing $549 + TTL

I'd like to "back in" to the vehicle sales price. Could you please provide the current money factor and residual value on this vehicle as well as the residual value for the same lease with 12k a year?

Help is much appreciated!

kevin34

I should add that the bank fee is waived or factored in to the above price. Thanks.

EnronX

Well I got a friendly call from my sales guy...Supposedly December has new cash-back available: $2,000 off the previously agreed upon price of $42,100

At .90% APR, that drops my monthly payment down to $677, which is $60 less than just a week ago...not bad!

Now if only I could get them to use a more realistic residual % (instead of 50%) then we'd have a deal for sure....anybody ever successfully negotiate a better residual?

EnronX

Kevin, can you help remind me the exact differences between the Tech and Base package? Is it only the Navi system and backup camera?

Looks like the Tech option is about $100 a month more on the 3 year lease.

CarMan@Edmunds

Hi b33. The best way to evaluate this deal is to look at its selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell if there is any room left to negotiate. Let us know what it is and I am sure that either myself or another knowledgeable community member will be happy to give you their opinion.

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CarMan@Edmunds

Hey kevin34. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Acura MDX with 10,000 miles per year are .00178 and 53%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The residual value for a lease with 12,000 miles per year would be 1% lower.

When negotiating your deal, make sure to take advantage of the $2,000 cash incentive that Acura just introduced on the '09 MDX for the month of December.

Car_man
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CarMan@Edmunds

Hey kevin34. Honda Finance's $595 acquisition fee probably was not waived, but rather rolled into the MDX's capitalized cost.

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CarMan@Edmunds

Hey EnronX. The additional $2,000 cash incentive is indeed excellent news for anyone who is in the market for a new MDX right now. Auto sales are as bad as I have ever seen them in my decade plus in the industry (that's an understatement). There probably has never been a better time to get a new vehicle. I suspect that most dealers will be happy to blow any MDXs that they have out the door at dealer invoice minus the dealer cash right now.

Unfortunately, vehicles' residual values are not negotiable. They are set by banks, in this case Honda Finance, and individual dealers do not have the authority to alter them.

Car_man
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joecoppo

Hi Carman,

Could you please give us the money factor and residual for a 09 MDX with Tech package for a 36month/10K lease?

Thanks

jurgan

Hi Carman,

I was told by a dealer that the $2K incentive is not valid with leases. Is this true?

7272

The $2,000 incentive applies to purchases. There is a $2,605 cap cost reduction available to qualified lessees of the base model.

joecoppo

Hi,

I have the following deal:

2009 MDX with Tech package - 36month/10K
MSRP: $45,600
Invoice: $41,500
Negotiated price: $41,000
Residual: 51%
Money Factor: 0.00178
$2K down
$580/month including tax.

Is it a good deal?

Thanks

kevin34

I was told by a dealer in NY that there is only the $2k incentive and it's available for purchases only. Is this correct? Thanks.

joecoppo

I've been told the same thing about the rebate in LA

kevin34

Yes, the incentives are on the buy. I would rather lease and not put up a big down payment and worry about repairs and selling it down the road. It seems that Honda has cash back and lower financing on the lease for the Pilot (I'm returning an '05). While I much prefer the MDX, I may have to consider the Pilot.

With that said, what do you think of the following lease deal on a '09 MDX Base:

36 months/10k a year
$1250 cap reduction
body side molding/car mats/cargo mat
TTL and bank fee paid up front.
$499 a month

Decisions decisions...

Input appreciated.
Thanks

kevin34

Thoughts? Car Man? Anyone? lol

pete9976

rickydog - Where did you get this price from? I'm looking to lease one as well.

CarMan@Edmunds

Here's the information that you're looking for, Joe. 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 .00178 and 51%, respectively for consumers who qualify for its "Super Preferred" credit tier.

Acura actually just introduced a $1,500 cash incentive on leases of this truck through Honda Finance a few days ago. Make sure that you take this cash into account when negotiating your selling price.

Car_man
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CarMan@Edmunds

Hi Kevin. What you were told is correct, the $2,000 dealer cash is not compatible with Acura's special program for this model. However...it just introduced a special $1,500 cash incentive on leases of the '09 MDX late last week.

Car_man
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CarMan@Edmunds

Hey Kevin. Please see my previous post for my response. Thanks.

Car_man
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dpmako

got this deal....what ya think

2009 Acura MDX Base

$1700 out of pocket includes 1st payment, dmv fees, tire tax, doc fee, bank fee, 36mo/10k yr lease, $499 incl tax (7%)?

shmuler

I got a quote for a 2009 Base MDX for $571.85 (this includes 7% tax) for 15k miles annually and only $571.85 due at inception. The purchase price of the vehicle is $34,906 and they are including all of the other inception costs in the monthly payment (per my request) which total $1,203. Also the residual is 50% and money factor are 0.00178. Is this the correct residual or should it be 51%.

How does this deal sound?

neeepeee

Here's the latest quote:

2009 MDX Tech. (36mo/15K miles)
Final Selling Price: $39760
Residual: 0.48
Money Factor: 0.00178
Monthly Pmt.: $618 + Tax
the dealer's also throwing in the performance pkg. accessories(wheel locks, all weather floort mats, cargo net & tray)

How does that sound? Car_Man? anyone?

goneflyn

Where are you located? I'm looking to make the same deal this week, but was given a preliminary quote of $610 (including 7% tax) with ~$1600 due at inception (1st pymt + DMV + Bank fee). Told the dealer I'll be back on the weekend for a more serious negotiation and test drive. His reply was that he could get monthly pymt in the upper $500 range to make a deal.

shmuler

I was working the numbers with Montclair Acura (DCH) and worked everything on-line just wanted to get in the $530 range and would pick up the car. The money factor should come down a bit with the help from the FED etc. with rates being at virtually zero. I worked with Donna Telesco she was very forthcoming about all fees. Hope this helps. I think it is a good deal with nothing due at inception except first month payment.

goneflyn

Sounds like a great deal. How did you get the selling price down to $34,906 (any incentives or discounts)? Edmunds has it invoiced at $37,830.

goneflyn

shmuler - did you get any accessories (roof rails, body side molding, running boards...) or just the Base model as is?

coder06

I just got a deal for MDX Base $430.00/mo. inclusive of all fees( 12K/year for 36 mos., $3500.00 due on signing.(includes all inceptions). I was told that this rate is already below invoice price, almost retail. Will pick up car on Sat-Billet Silver/Ebony. Hoping this was a good deal.

shmuler

I didn't request any additional roof rails or anything like that. I first asked for the price as if I was buying and actually surprised how low they quoted because it was about 2 grand less than the carsdirect.com price.

goneflyn

So I went to DCH Acura (Montclair, NJ) and met with Donna Telesco after talking over phone (quoted $517 from the get go). She gave me the break down on the '09 Base MDX for a 36 month lease w/ 15K mi.

MSRP: $41,550
Sale Price: $34,569
Residual: $20,775 (50%)
MF: 0.00178
Inceptions Fees: $1,720 (1st pymt + TTL + Bank Fees)
Monthly Pymt: $517 including 7% tax
or
Inceptions Fees: $556 (1st pymt and all other fees rolled into lease)
Monthly Pymt: $556 including 7% tax

Overall great experience without all the hassle of buying a new vehicle. No sales pitch or pressure to close the deal right now at this price. I wanted the weekend to think it over and make final decision on color combination. I'm going to go with 1st option $517. Is this a good or great deal?

Thanks

EnronX

Looks like you have a very solid deal there....

We just settled on Saturday with very similar terms on our 09 MDX here in Alabama.

The only difference between our deals was we went with the Tech Package (Navi and rear-reverse camera) -- our sale price was $40K and for 12K miles per year we are paying 36 months $525 per month with a ~$3K cap cost reduction.

Love the new car sitting in our driveway!

jackalofny

Vehicles lease in NY
cost 40,800
down 3172 (first month, tax, bank fee+GAP, title)
$599.00 per month
is this a good deal
please advise

dollar_pound

can someone please post the december 2008 lease rates for acura mdx. thanks

klenj

I just purchased a 2009 MDX Tech at Acura of Ramsey in NJ for 38,400. I found it less to purchase with low rate compared to lease.

dollar_pound

True, acura is very good value to purchase as well. Looking at dealer inventories i think they might extend the lease deals to Jan/Feb. Anyone has any thoughts on that or heard of anything. The best on MDX Tech so far I have got is:

Lease a 2009 MDX Tech for..
> > > 36 months
> > > 12,000 miles per year
> > > Inception fees down $1,791.48
> > > Monthly payments $574.91
> > >
> > > Payment includes NJ taxes, DMV fee and destination.
> > >

Base MDX is for 495. I believe there is still room for some squeeze, you might be able to get 15K miles in the prices above I mentioned.

CarMan@Edmunds

Hi neeepeee. The dealer invoice price for a 2009 Acura MDX with the Technology Package, but without Navigation or the Entertainment System is $41,503. If one subtracts the $1,500 cash incentive that Acura is providing on leases of this truck through Honda Finance from that it drops to right around $40,000. The selling price that you were quoted is slightly less than that, which makes it very attractive. The money factor is right in line with Honda Finance's current buy rate for this model as well. If you like the MDX, I personally don't see any reason not to pull the trigger on this deal.

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CarMan@Edmunds

Hi dollar_pound. Doing some currency trading ? Honda Finance's current buy rate lease money factor for the 2009 Acura MDX is .00178. In addition to this special money factor, mid-month Acura introduced a $1,500 cash incentive on leases of this model. Keep in mind though that Acura's December incentives program is only scheduled to run through January 5th. It is difficult to say what its new January lease program will be like at this point. Please feel free to check back with me late this week and I should be able to fill you in on the details.

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rfmdx

have a lease ending for a 2005 Base MDX with about in March. It has currently 39K on it (I am under the mileage allotment). I'd like to buy the car, but the residiual value is $20,258, which according to Edmunds TMV, is above the market value for the car. The TMV value ranges from about 17K for a private sale to 19K for a retail sale. I read on Edmunds about the possibility of making an offer to Honda Finance to purchase the car. I just called and the woman I spoke to said that legally they cannot alter the terms of the lease because it is a closed end lease, although that's not what the Edmunds article was saying. So, I am wondering is it at all possible to make an offer to the finance company to purchase the car at below the residual value (I am just looking for a fair market value for the car). And if so, how is that done? The dealerships won't be able to sell it for 20K.

Thanks.

tagez

Even better they want to deal NOW!!!


MSRP: $41,550
Sale Price: $34,569
Residual: $21,775
Inceptions Fees: $720 (1st pymt + TTL)
Monthly Pymt: $488 including 5.5% tax

They will deal all day long you can't stay on them!

my3rdrx

I believe the woman is just giving you the official line right now ~ my 06 Chrysler Pacifica is going off the lease in February and Chrysler has already called and offered it to us for $2000 below the lease purchase price.

I think you will get a call from Honda Financial soon enough to offer you a lower price. With the way the SUV market is, it will save them a lot of headache just to offer it to you for less so they don't have to deal with it!

smilsom

I believe the previous lease program expired today - anyone hear what the new program is?

acurafamily

What is a reasonable 24 month deal for an '09 with Tech and Entertainment packages, 24k miles? Any guidance would be appreciated. Located in Baltimore, MD.

rfmdx

my3rdx, thanks for the reply.

I don't know, she kept saying that legally they could not alter the contract because it is a closed end lease. I also called the dealer that I leased and he basically said the same thing. I have the inspection setup for Feb, so we'll see if I get any calls. I have been reading that some lease companies have residual value insurance, so if the value is less than its worth, they are insured for the difference so they have no motivation to negotiate. Maybe Honda Financing is setup this way. I would love to hear if anyone has been able to negotiate the buyout on a lease with Honda Finance recently and how they did it!

klenj

AHFC does not negotiate lease buyouts. I have leased cars from them for the last 20 years and have tried every time with no luck. They do carry residual value insurance.

dima1

Car_man,

Does the 39 month and the 42 month Lease for the Acura MDX base have a different residual value and money factor then the 36 month lease?

Thank you.

gtreger

i was quoted a .0025 money factor for a 39 month lease on an MDX with technology package. This is significantly higher than what was discussed on this board in december and was apparently available through January 5th. Can anyone confirm that this is the correct money factor and that the dealer is not trying to squeeze some profit from me here.

By the way for this car i was quoted $38,290 + 760 destination (MSRP 45,600) plus processing and tax and tags. This includes the $2k price incentive and a .9% 3 yr loan is available for purchase.

dima1

Thank you qtreqer,

My current lease for 2006 MDX is 42 month. At that time the money factor and residual was the same for 36, 39, and 42 month. That made a 42 month lease very attractive because of the lower payment.
I would like to see if that is the case right now.

sluurrpee

Car Man: Can you please post the money factor and residual on a 36 month 15k miles per year for the 2009 Base model and Tech model when you get them?

Thanks

gco13

gtreger,

I got the same money factor of .0025. It's up from December. The lease rates are worse but they are making up for at least some of it by extending the 1500 dealer lease incentive to 2000. Also, the residual on 39 mo lease is .49 and .5 on a 36 month lease for 12k miles a year.

I was quoted $180 higher than you for the same mdx with tech.