I leased a 2009 base mdx last year with 10,000 mi per yr for 3 yr. Due to a change in circumstance, my mileage per year is going to increase because I will need to commute to a new job, approx 50 miles per day. Is there anything I can do to change the terms of the lease at this point or even get into a different lease? I know this is the risk you take when leasing but I was hoping someone may have had some experience with this.
Hi calcoug. Many banks do offer lessees a discount on the money factor that is used to calculate the interest portion of their lease cost if they agree to pre-pay for their entire lease in advance. I suspect that Honda Finance does as well, but I'm not sure of the exact discount that it provides for doing so.
If I had to make an educated guess, I'd say that its pre-pay money factor discount would be around .00080. The .00071 money factor that you were quoted looks about right for an advance pay lease to me. Honda Finance's current buy rate lease money factor for a normal 36 month lease of a 2010 MDX is .00133 for consumers who qualify for its top aka "Super Preferred" credit tier.
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Hi omadao24. Banks usually allow the full residualization (I'm not even sure that is a word, but people in the industry use it) of all factory-installed options. Dealer-installed options are a different story. Honda Finance might allow you to bake some dealer options into your lease, but chances are that you are going to end up having to pay for the entire cost of a number of, if not all of, these options over the cost of your lease...which needless to say is fairly annoying. You wouldn't necessarily have to pay for the entire cost of these options at lease signing, you will probably be able to spread them out over your monthly payments...but you still will end up paying for the full cost of the options rather than a portion of them like you would on factory-installed options.
This is why I usually do not get any dealer-installed options on my vehicle when I lease.
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I'd be happy to help you out, enthusiastdre. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2010 Acura MDX with 15,000 miles per year are .00133 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
The numbers for an otherwise identical lease of a 2010 MDX with Tech are .00133 and 53%.
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Hi borderman01. While it was technically true that Acura introduced a new lease program on July 7th, its new program results in almost identical monthly payments as its June program. While it is usually true that they don't know what the new program will be like after the current one ends, salespeople often like to create a false sense of urgency in customers to get them to finalize deals ASAP.
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Hello Brian. Here's the information that you're looking for.
Honda Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX with Tech and Advance and 12,000 miles per year are .00133 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Here's a description of what the '11 MDX will be like from automobile magazine:
Thanks alot. But last week after thinking about it, I decided to pull the trigger and make the deal . I feel I got a fair deal on the following;
2010 MDX Base 36 months 59% residual .00150 money factor Selling price $39,622.58 MF $43,090 10K miles $1,710 out of pocket for NY DMV, doc fee, bank fee, etc... No money down Total payment including NY taxes = $542.51
I currently have a 2006 base MDX lease that is up. My buyout is $17,200.00 and the dealer tells me I have $2000 in equity. They are quoting me on a new 2010 MDX tech lease as follows: 36 month - 12k per year - MSRP of $46,765.00 Total cash on delivery Taxes, fees, etc..before discounts = $6,762.73 Deduct my $2,000 trade equity and deduct first payment $535.00 for a Grand Total due at delivery - $4227.73 / $535 per month
Does this seem fair? Should I wait until August to see what the new lease deal is closer to the end of the quarter?
Just signed on the deal below in Toledo, Ohio at Dave White Acura. It was a great experience without any hassles. I negotiated the entire deal over email.
2010 MDX Tech Color: Black Interior: Parchment 36 Month Lease 10,000 miles per year MSRP: $46765 Cap Cost/ Sale Price: $43,246 - includes destination charge Money Factor: .00133 Residual 56% Acquisition fee: $595 Rolled into Lease Payment Monthly Payment with Tax $625 Signing payment: $778 (1st month +Title+Registration)
Thanks for sharing, dakota9. I'm guessing your tax rate is about 6.6%, right? Also the acq fee of $595 is not included in your cap figure of $43,246, correct? Meaning your total cap cost = sale price of $43,246 + acq fee of $595 for a total of $43,841. Just looking to confirm before closing my own deal here in NY. Thanks for the info and enjoy the ride!
That's correct, the $595 was not included in my cap cost figure, and yes my total Cap Cost is $43,841 with a tax rate of 6.75%. I think I could have pushed them a little harder on price, but I was satisfied and they made the transaction very simple. Good luck.
Honda Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX with Tech, Entertainment, and 12,000 miles per year are .00133 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
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Honda Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX Tech with 12,000 miles per year are .00133 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
The residual value for a lease with only 10,000 miles per year is 1% higher.
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Hi rpo6g. Honda Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX with Tech and 15,000 miles per year are .00133 and 53%, respectively.
15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.
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Hi Car_man, could you please post the current MF and residuals for an MDX Advance w/entertainment for 12k/36months? I think the lease program changes again sometime in August 1st week, do you think there will be major changes? Thanks
I got a quote: Acura MDX Tech package, including sport running boards, body side molding. Monthly payment $655 Out of pocket $1,700 ( bank, DMV, 1st month). 36 month, 10,000 miles. Brooklyn, NY. Plaza Auto Mall.
A reporter is looking to speak to consumers who recently got a new vehicle because of the great lease deal. Please send your daytime phone number and the car you purchased to ctalati@edmunds.com by Friday, August 6, 2010. Thanks, Chintan Corporate Communications Edmunds.com
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Hi, We are looking to lease a 2010 Acura MDX base model. We have not dealt with Acura for our leases in the past, so I'm wondering how much play there is with these numbers? 3 yrs/36,000 miles MSRP 43,090 Adj cap cost $38,200 Residual factor $57% $24,500
$486/mo incl. tax w/$3,700 down.
We never put money down on our leases so I am trying to reduce this a little bit.
Finally pulled the trigger, here is what we got: ADV/ENT 36mnths/12k $750/month (includes 8.75% tax) $1495 down (includes tittle+1st payment) Includes Sports board+roof railing+crossbars
Thanks a lot member's for sharing your information, it helped a lot.
Car Man would you please clarify the August money factor and residuals for me on a 2010 MDX with Tech/Ent, 12K and 15K miles? Have the rates changed in August? One dealer told me the rate is .00123 if you roll drive offs (first payment, license,etc, no cap reduction) into the whole payment, and .00133 if you pay drive offs up front. Also, is the 595.00 bank fee standard or are they trying to pad profit? Thanks very much.
Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX Advance with 12,000 miles per year are .00133 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
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The easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.
The dealer invoice price of a base 2010 Acura MDX is currently $39,586. If I was in the market for this model right now, I'd shoot for around $500 over invoice or so without any capitalized cost reduction.
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Here's the information that you're looking for, socalcar1.
Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX with Tech, Entertainment, and 15,000 miles per year are .00133 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
The residual value for a lease with only 12,000 miles per year is 2% higher.
Honda Finance charges a $595 acquisition fee on every vehicle that it leases. Individual dealers do not have the ability to waive this charge.
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Thank you very much Car Man. One follow up question. Consumer Reports says the holdback on the Acura line is currently 3%, or, for example, 1,434 on the mdx tech/ent. I obtained this info. by purchasing their car buyer report for the mdx. I have spoken with dealers that claim Consumer Reports is wrong, and that the holdback is 2%. I called Consumers and they said they have accurate holdback info. because they buy the cars directly from the manufacturer and therefore are privy to this info. When you check free websites you'll find both numbers quoted. What do I believe? Thanks again.
You're very welcome, socalcar1. Good question about the holdback. I'm not sure who's right, the dealer or Consumer Reports, but I'm not sure that it really matters either. If I was in the market for a 2010 Acura MDX right now, I personally would shoot for a selling price of around $500 over the dealer invoice price that is listed here at Edmunds.com and not worry about the holdback.
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We have been going back and forth on how to replace our 02 MDX which was totaled. Looking at a Pilot but am not sure I like it that much. Keep coming back to the MDX. Have received a few lease quotes with about $580 per month for 36 months at 12,000 miles. Is this a good price? Jay
Thank you I came to the same conclusion and finally made a deal and received my car today. I have been using two tools to lease cars for years - this forum, as well as an excel spreadsheet I use that calculates lease rates based on the various pertinent inputs (invoice, msrp, money factor, residual rates, etc.). They are both very powerful tools. So I'm happy to share the deal I made here in Southern CA. I have leased a new 2010 MDX with Tech and Entertainment, 3 years 12,000 mi per year. My drive off was 1600 exactly including first month payment of 690.00 which includes 9.75% sales tax. According to my model this amounts to about 400.00 over invoice, not taking into consideration the holdback. Thanks again for everybody's info and I hope mine is helpful as well.
Hi jayct. We looked at the Pilot also because of the greater cargo room and flat folding 2nd row. Didn't like the test drive at all. That 250HP engine is just too small - it made the car feel 'heavy.' I also read that the braking distances were a bit longer than expected.
What's strange about the engine is that the smaller size plus Honda's variable valve technology all add up to a whopping 1 mile/gal difference than Acura's 300HP version! If you're gaining 5 miles per gallon then maybe you're willing to sacrifice the acceleration, but 1mi/gal?!?!
Anyway, we came back to the MDX and have no regrets.
I can't answer your question about whether or not the $580/mo is a good quote without all the details. Cap cost reduction? Sales tax? Fees? Any other costs due at signing?
Do you have the current residual and money factor for an MDX w/tech 36mo @ 15k miles/year? If yes I can calculate for you the sales price the dealer is getting on the sale.
OK, I think I found current MF and residual on your MDX w/tech, 15k/yr @ .00133 and 52% respectively. Using those numbers, that payment reflects a sale price $300 UNDER dealer invoice. That's an excellent deal in Westchester, assuming there are no hidden fees due @ signing and the MDX doesn't have mileage.
It's better than the deal I negotiated at Acura of Bedford Hills, and Curry in Scarsdale wouldn't come close. The dealer in Larchmont came in with the highest price. So which dealer did you get this quote from? I'm really curious!
Comments
Thx.
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If I had to make an educated guess, I'd say that its pre-pay money factor discount would be around .00080. The .00071 money factor that you were quoted looks about right for an advance pay lease to me. Honda Finance's current buy rate lease money factor for a normal 36 month lease of a 2010 MDX is .00133 for consumers who qualify for its top aka "Super Preferred" credit tier.
Car_man
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This is why I usually do not get any dealer-installed options on my vehicle when I lease.
Car_man
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The numbers for an otherwise identical lease of a 2010 MDX with Tech are .00133 and 53%.
Car_man
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Car_man
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Honda Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX with Tech and Advance and 12,000 miles per year are .00133 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Here's a description of what the '11 MDX will be like from automobile magazine:
2011 Acura MDX
Car_man
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Thank you!
Thanks alot. But last week after thinking about it, I decided to pull the trigger and make the deal
2010 MDX Base
36 months
59% residual
.00150 money factor
Selling price $39,622.58
MF $43,090
10K miles
$1,710 out of pocket for NY DMV, doc fee, bank fee, etc...
No money down
Total payment including NY taxes = $542.51
Total cash on delivery Taxes, fees, etc..before discounts = $6,762.73
Deduct my $2,000 trade equity and deduct first payment $535.00 for a
Grand Total due at delivery - $4227.73 / $535 per month
Does this seem fair? Should I wait until August to see what the new lease deal is closer to the end of the quarter?
I am guessing .00133 and 56% based on your earlier post for a 15K lease?
2010 MDX Tech
Color: Black
Interior: Parchment
36 Month Lease
10,000 miles per year
MSRP: $46765
Cap Cost/ Sale Price: $43,246 - includes destination charge
Money Factor: .00133 Residual 56%
Acquisition fee: $595 Rolled into Lease Payment
Monthly Payment with Tax $625
Signing payment: $778 (1st month +Title+Registration)
Also the acq fee of $595 is not included in your cap figure of $43,246, correct? Meaning your total cap cost = sale price of $43,246 + acq fee of $595 for a total of $43,841.
Just looking to confirm before closing my own deal here in NY.
Thanks for the info and enjoy the ride!
I am also looking for MDX Tech pkg. in NYC. Let me know what you get on the leasing.
thanks
Honda Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX with Tech, Entertainment, and 12,000 miles per year are .00133 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Car_man
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Honda Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX Tech with 12,000 miles per year are .00133 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
The residual value for a lease with only 10,000 miles per year is 1% higher.
Car_man
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Car_man
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15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.
Car_man
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I think the lease program changes again sometime in August 1st week, do you think there will be major changes?
Thanks
Acura MDX Tech package, including sport running boards, body side molding.
Monthly payment $655
Out of pocket $1,700 ( bank, DMV, 1st month).
36 month, 10,000 miles.
Brooklyn, NY. Plaza Auto Mall.
Thanks,
Chintan
Corporate Communications
Edmunds.com
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Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
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Review your vehicle
We are looking to lease a 2010 Acura MDX base model. We have not dealt with Acura for our leases in the past, so I'm wondering how much play there is with these numbers?
3 yrs/36,000 miles
MSRP 43,090
Adj cap cost $38,200
Residual factor $57% $24,500
$486/mo incl. tax w/$3,700 down.
We never put money down on our leases so I am trying to reduce this a little bit.
thanks!!!!
ADV/ENT
36mnths/12k
$750/month (includes 8.75% tax)
$1495 down (includes tittle+1st payment)
Includes Sports board+roof railing+crossbars
Thanks a lot member's for sharing your information, it helped a lot.
Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX Advance with 12,000 miles per year are .00133 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Car_man
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The easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.
The dealer invoice price of a base 2010 Acura MDX is currently $39,586. If I was in the market for this model right now, I'd shoot for around $500 over invoice or so without any capitalized cost reduction.
Car_man
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Enjoy your new ride :shades: !
Car_man
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Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2010 Acura MDX with Tech, Entertainment, and 15,000 miles per year are .00133 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
The residual value for a lease with only 12,000 miles per year is 2% higher.
Honda Finance charges a $595 acquisition fee on every vehicle that it leases. Individual dealers do not have the ability to waive this charge.
Car_man
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Car_man
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2010 MDX with Technology Package
36 months with 15,000 miles/year
nothing down exept tax, title, fees, & 1st payment.
Thanks!
We looked at the Pilot also because of the greater cargo room and flat folding 2nd row. Didn't like the test drive at all. That 250HP engine is just too small - it made the car feel 'heavy.' I also read that the braking distances were a bit longer than expected.
What's strange about the engine is that the smaller size plus Honda's variable valve technology all add up to a whopping 1 mile/gal difference than Acura's 300HP version! If you're gaining 5 miles per gallon then maybe you're willing to sacrifice the acceleration, but 1mi/gal?!?!
Anyway, we came back to the MDX and have no regrets.
I can't answer your question about whether or not the $580/mo is a good quote without all the details. Cap cost reduction? Sales tax? Fees? Any other costs due at signing?
Do you have the current residual and money factor for an MDX w/tech 36mo @ 15k miles/year? If yes I can calculate for you the sales price the dealer is getting on the sale.
Residual = 55%