2013 and earlier-Acura MDX Lease Questions

loooking

hello
what would a 2010 mdx advance with ent pkg, 15k/ year 3 yr residual be? I assume the money factor is .00145.

thanks very much for the reply

stevied32

So I was about to buy an '07 Certified MDX but switched gears and ended up leasing a Base '10 for the following. I think it's a pretty good deal. Let me know what you think.
36 months- 10k miles
Payment w/tax (7%)- $567 month
Bank/Acq Fee- $595 [ Is this fee negotiable or do all dealers charge this?]
Doc Fee- $275
Total due at signing w/ all taxes,fees and 1st month payment- $1950
Residual- 58%
I believe the selling price was $40,300. They are also installing a roof rack- no charge.

The only concern is I live in NJ and need the car to perform in the snow. I've read terrible comments about how the Bridgestones handles in icy, snow conditions. Do I have a chance at getting the dealer to switch the tires to the Michelins?

dnb1

Can anyone provide the MF and residual on a 2010 MDX with Tech and Entertainment for 36 months and 12k miles? I am in NJ.

stevied32

Do you know how long the current MDX lease program will run? I think the current program is good but I'd like to wait until March and don't want it to change for the worse.

Thanks.

dnb1

I am in the process of negotiating a lease on an MDX tech only (12k miles, 36 mths). Here are my 2 offers in ther northern NJ area...

OFFER 1:
Cash down $ 1179
Purchase price: 42,985
monthly pmt: 662

OFFER 2:
cash down $2075
purchase price: 43,700
monthly pmt: 640.

How does this make any sense? I've always read negotiate purchase price, but the one with the lower purchase price is the higher monthly pmt. I am assuming that offer 1 is rolling some of the upfront costs into the lease payment. That is the only thing that is logical. Any insights out there? Which is the better offer or are they essentially the same?

rdxer

A follow up from my earlier post on the Prices Paid post...

'10 Base at $43,040 MSRP
Sell price: $38,991 (including freight)
MF: .00145
Res: 58%
total out of pocket: $3500 (includes $1226 VA sales tax, $595 aqc fee, $345 dealer fee, $463 first month, $120 tags, balance went to reducing cap cost)
Monthly: $463

Extremely happy with this deal

jvette

That is a very good price. You have gotten into their holdback. The invoice is $39486 with the true cost to the dealer being $38219 after the holdback.

It seem the lots are starting to fill up with some models of the MDX. The base and Tech Entertainment seem to be the most plentiful. The Tech has been a little short on supply in the last couple of weeks. I saw a whole truck of them being unloaded yesterday at a dealer.

padoo

Guys I have an offer for

Mdx 2010 with Tech Package
12k 36months $2500 down payment
This is for california sales tax bracket 8.25%

Is it a good deal?

jvette

We need a little more information but this seems high with a down payment.
money factor should be .00145 and residual is 55%, How much are you paying for the MDX?

tgv267

I have a lease deal for the following:
2010 Base MDX
12K/ 36months
$750 down (first and fees)

$598/mo OTD

Is this a good deal?

jvette

I think that is pretty high.
If you pay invoice for the MDX that would be $39,500 and that is pretty common right now. Then you have a $595 fee added for Honda to start the lease. So your cap cost would be $40,095.00.

Then the residual value is 58% and the money factor is .00145.
Cap cost 40,095 minus residual 25,172.00 divided by 36 months = $414.52
Than cap cost 40,095 plus residual 25172.00 X .00145 = $94.63
Payment $509.15 plus your state taxes in Ohio. I don't think you have almost $90 per month in taxes. You're paying almost $3200 over the 36 months more for the MDX than I have figured

jvette

oops, that residual would be a point or so lower because of the 12,000 miles per year.

db49

I have a 48-month lease offer for a 2010 MDX with Tech Package as follows:
$44,715 with $2500 trade and an MF of .00370 and payment of $728 (due to slow payment credit history). Is this a good deal?

jeff2010

Here's the deal I am offered:

36mo lease, 10K / yr
$4000 down - 2471 cap cost reduction, rest registration/tax/first payment/fees
$45926 cap cost, incl 595 acq. fee
$26739 residual
$566.10/mo before taxes, $621.29 with taxes (yay California!)

newbiecar

Here is the deal i'm offered:

36 month lease, 10k / yr
$2,100 down
$768 per month

I'm a newbie to this forum. Looking for some good advice. Anyone have any NY or NJ comparisons on this vehicle?

newbiecar

I just called the dealer and told him he had to do better.

He's now offered:

36 month lease, 10k / yr.
$2,000 down
$719 per month

I'm still not sure if this is a good deal though? thoughts?

r000

Car_man,

What are the current rates on the MDX? Specifically for the base on a 36 month, 10000 miles/yr lease.

dnb1

You should be able to do better. I am negotiating a lease now on a Tech only, but when I started I thought I wanted the Entertainmnet pkg too. Most of my offers on Tech and Entertainment was around $1800-2000 down and about $680-$690 per month. And that was on 12k miles per year/36mth lease, which will be more than 10k/yr. This is in northern NJ. To check their math, try leaseguide.com and there is an easy lease calculator there.

jvette

I don't think so. That is a huge price to pay on a lease for a Tech MDX. You should look at a 36 month lease. If you use the same money factor and no down payment your payment would be $747.91 plus tax. With that money factor you shouldn't even look at leasing. You are paying over $250 per month in interest alone. The lease on this makes sense when you can get the .00145 money factor. That makes a 3 year lease payment $592.42 plus tax.

sl1288

Hi guys (and girls), after reading a few posts here, it seems there are a few people who are new to the leasing game. I hope you don't mind if I offer some advice based on my many years of leasing cars. Leases can be confusing, and you could end up spending a lot more than you should if you don't know what you're doing.

Rule #1 - Never mention you are interested in leasing the car until after you have negotiated your best price. Many people don't realize they can lease a car at or below the invoice price. Never lease off the sticker price. This is very important because your lease will be based off of your cap cost. (The final price of the car +TTL) Always negotiate off your lowest bottom line price.

I always let the salesman think I am going to buy the car for cash, and only begin talking about a lease once we reach a final price. Don't bring up leasing until after you have negotiated a final cash price. A salesman is not going to give you his bottom cash price if he thinks you are going to lease.

Rule #2 - Never start the conversation with the salesman by asking him for his best lease rate. His best lease rate is never going to be your best lease rate, and you may have no idea what price he is basing his figures on, especially if you put money down. Which leads to...

Rule #3 - Put as little money down, if any on a lease. Any money you pay up front on a lease is gone for good at the end of the lease. You are throwing money away by paying thousands up front. Remember, you don't own the car, you aren't building up equity. Generally, every $1,000 you put down will reduce the monthly payment by approx. $20. That's $900 over the life of a 3 year lease. Also, if you total the car, the gap insurance will not cover your down payment.

Rule #4 - You will get a lower lease rate on a car that has a higher residual rate. The residual rate is how much value Acura thinks your car will have at the end of the lease. Your lease is based on the loss of value. If you're lucky enough to have a lease rate with a 58% residual, then you are leasing off of 42%. The residual rate will drop when you increase the annual mileage from 10k to 12k to 15k per year. More miles means less value.

Rule #5 - The good news is the residual rate and the money factor are set by Acura and the bank. You don't have a choice. Therefore, your most powerful weapon is leasing off of your lowest negotiated price.

jeff2010

All good points, although on Rule #3, while it isn't good to put money down if you can avoid it, it isn't quite true that a cap reduction leads to a loss if the lease runs full term - in other words, each $1000 you put down that reduces the cap cost leads to a reduction in payments of something closer to $30, not $20 a month. Remember that money factor is really another way of saying interest rate - a factor of .00145 is about a 3.48% interest rate. The less money you finance, the less you pay... having said that, for all the other reasons you mention, putting cash down isn't a great idea.

sl1288

That is a very good point and well said.

newbiecar

The dealer has reduced his offer to the following:

10k miles
3 year lease
$2,000 down
$615 month

what do you think?

dnb1

That sounds pretty good, I think. For the MDX w/Tech only, I ended up with the following:

12k miles
3 year
$2000 down
$621/month.

I think that worked out to about $300 over invoice, and I was ok with that.

CarMan@Edmunds

Hi dnb1. Here's the information that you're looking for. Acura's current buy rate lease money factor and residual value for a 36 month lease of a 2010 MDX with Tech and Entertainment and 12,000 miles per year are .00151 and 55%, respectively for consumers who qualify for its top credit tier.

Car_man
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CarMan@Edmunds

Hi stevied32. Acura's March lease program for the 2010 MDX is very similar to its February program was. You didn't miss out on anything if you decided to wait.

Car_man
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CarMan@Edmunds

Hello dnb1. I believe that you were correct when you said that the main difference between these two leases is the amount that you will have to pay at lease signing. Deal one requires $896 less at lease signing than deal two. This isn't exactly how it works, but looking that money the simplest way possible and dividing it by your 36 payments it comes out to just under $25 per month...which is approximately the difference between the two payments.

Dealer one could also be adding a higher doc fee or marking up your acquisition fee as well. If that was the case, the selling price that it was charging you would be lower but the total amount financed would be more.

Car_man
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CarMan@Edmunds

Here's the information that you're looking for, r000. Acura's March buy rate lease money factor and residual value for a 36 month lease of a base 2010 Acura MDX with 10,000 miles per year are .00151 and 59%, respectively for consumers who qualify for its top credit tier.

Car_man
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bstek1

Can anyone share with me their thoughts on what a good lease deal would be on a new 2010 Acura MDX with Advance and Entertainment? I see the "sticker" is $53,755 + destination.

I've read through a number of the posts and I haven't seen one with the same make/model however it seems I should be shooting for a $600 to $700/month payment. Here is what I am looking for.

36 months / 12,000 miles a year
No money down

I've got great credit so I should qualify for top tier.

Any thoughts on what I can expect for the money factor, residual value, and monthly cost?

Thanks in advance for your help!

CarMan@Edmunds

Hi bstek1. Let's work up a payment on the truck that you're interested in and see what we come up with.

According to my calculations, if you were to lease a 2010 Acura MDX Advance with Entertainment that has an MSRP of $54,565 and a selling price of $50,537 ($500 over invoice) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $692, assuming that you qualify for its top credit tier.

I used a money factor of 0.00151 and a residual value of 55% to arrive at this payment.

Car_man
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bstek1

Thanks a bunch car_man. Any thoughts on how to lay those figures out to the dealer? Best to "make an offer" lower than that knowing that they will want to negotiate up? This has been a tremendous help!

swajames

Hi everyone - first post here but I've been lurking for a while!

Anyone have the money factor and 36 month/10K residual value for a 2010 MDX Advance?

Appreciate any info!

sl1288

Hi Car Man,

Can you provide me an approximate lease payment based on a 2010 MDX w/ Tech with 18,000 miles per year and a cap cost of $42,900? Please let me know what the residual value and money factor are.

Thanks

afmf22

First I have to say that these forums have been a huge help to me! I've learned so much from reading all of the advice on leasing. So I've done my research and we're ready to go and negotiate a 2010 MDX with tech/ent. How do I start negotiations? Do I start with invoice and go up from there?Is it reasonable to expect to pay somewhere between invoice and TMV? We have every intention of leasing but I've told the salesman that we're buying. We're in Westchester County New York and there are plenty of dealerships we can choose from. We're hoping to to do business with the one closest to our house. I called several today and asked for quotes and not one called me back. Do I go to the dealership with made up quotes from the others and go from there? I desperately want to do this right - I've been leasing cars for years and have never gotten it right. Advice on how to deal with these guys?

swajames

Start from invoice and work up, trying to stay as close to invoice as you can. Even at invoice the dealer is making money with holdbacks etc. It's not necessarily reasonable to expect the dealer to sell a car at a loss or at no profit, equally it's incumbent on the buyer to try to keep that profit to a reasonable minimum. Without too much effort I've gotten two Bay Area dealers to close to invoice (invoice +500) and I reckon I could get a little more. Question is at what point do we feel the deal makes sense for us and the dealer? It won't keep me awake at night if the dealer doesn't make much on the deal, equally it won't keep me awake at night if I left a little on the table.

lhsa

carman,

i'm looking to lease a 2010 MDX with technology.

what are the residuals and money factosr for 10K and 12K miles per year? does acura have bank fees or the like?

thanks!

wantanewride

Put a deposit down on an MDX Tech/Ent package yesterday. With a SP of $45k and 20,000 miles per year, the lease payment quoted seemed high to me, $756. They are saying that the residual is 24265 and mf is .00150. From these boards, I think they seem a bit off.

Suggestions on how best to proceed?

Thanks!

wantanewride

I should also add, no $ out of pocket, taxes rolled in too.

johnzee

Went to Acura dealer in Salt Lake City yesterday. This is the quote they gave us for a Base Acura MDX:

MSRP $43,040
LEV: 59% (10K miles/yr)
MF: 0.00151
36 mo lease
Initial cap cost: $42,024.60
Acq fee: $595
Adjusted cap cost: $39,812.86

Cash due: $4088.17
Base monthly lease: $499.00 plus tax

I ask if they can do better and the guy said he could make it $499.00 tax included (same cash due at signing).

I'm trying to get $499 with tax incl/month, 12K miles/ yr, with $3000 cash due. Can they accept it? We have tier 1 credit score.

Can you advise if this offer is a good deal? Thanks for your help.

r000

You can do way better.

Aim for: $550 w/tax included and $1500 (inception fees) due at signing. At least that is what I've been able to get from NY dealers. In NJ, I've found two dealers who are willing to go to $530 with taxes. My sales tax rate is 8.875%.

johnzee

Thanks for the advice. So lets see if I understand this correctly.

$550/month is $50 extra per month, X 36 months = $1800, plus $1500 down, this means your deal works out to be $3300. Our proposal would be $3K out of pocket and $499/month. Our sales tax is 6.85%.

Is this correct?

r000

Dealer offered you $499 + tax and 4k down.

You should aim for/or do better than the numbers I posted.

Since your tax rate is lower, you should be able to get a lower monthly payment than me. Also don't pay anything at signing except the inception fees (Bank Fee, DMV, First Month payment). So far the best deal I got was the one I mentioned above from a NJ dealer, $530 a month with only the inception fees at signing.

ottoman3

I am just curious: By $2000 down did you mean that the $2000 includes taxes, DMV fees,first month payment....?

ottoman3

I got my 2010 MDX with tech package in January and looking at the numbers that you are quotting, it somewhat feel that I got ripped off:
12K lease, tech package
$2900, includes taxes, DMV, aquisition fees.......
$648 a month

What do you think?

cndnbkn

Hey r000 can you give me a ballpark figure for what portion of that $530 monthly the NJ dealers gave you was for your taxes? I am in NC and our taxes are much lower, only 3%. Figure I can just take a third of your tax figure, 3% versus your close to 9%, to figure out my payment. Also do you mind telling me what dealers gave you those quotes? If you would rather PM me than post that is fine. I have no problem flying one way to newark to pick up a car or use it against the dealers around NC to try and get them down. I am thinking I should be able to get $500 per month with just start up costs for a base MDX with 12K per year with the numbers I worked up and what you mention beeing quoted. Thanks in advance for the reply.

perks

Total out of my pocket due at signing $3133 only extra is DMV fees for switching plates from my current vehicle about $ 70 . Monthly payment is $573 a month for 36 months with 15k a year mileage . Its the base model MSRP is $43040 the car has plenty of goodies. The first month's payment of 573 is included in that 3133. 2010 MDX black on black. Thanks

jvette

The deal seems to be just OK. What are you paying for the BASE MDX? What money factor are they using and what residual value in percentage are they using? All this is needed to see if you are getting a good deal or not. You are getting 15k miles per year so that will lower the residual a little. Does your payment include sales tax? It would be nice if your cap cost was around $40,100 including Honda's Lease fee of $595.

r000

Approximately $45 is tax. BTW this payment is with 10k miles. I can't seem to find a way to pm on this forum??

grace7000

What can I expect to pay for a loaded 2010 MDX with Technology and Entertainment Packages in Nassau (ie 11050) or Suffolk (ie 11731) county NY? The MSRP of the vehicle I built on the Acura site had a MSRP of $48.6k. We would select the lowest mile package available and would also consider buying instead if the numbers worked out correct.

grace7000

Was just quoted $554 with $2953 plus taxes and MV fee down. 10k/36 month. I know that its better to incorporate the taxes into the payments but I thought this format was better to get your opinions on since my tax rate is very high....