I'm still learning, but from what I can figure out about their lease special is its based on a sale price of MSRP and at 3.6%. to roughly comeout with $459.00 per month. I'm thinking if you can get this car for $2000.00 under msrp and put down about $2500.00 you should be at $400.00 a month. (thisincludes the acquisition fee.)
Thanks, still learning too! The $459 offer says MSRP $43,185 with net capitalized cost of $41,406 that includes $595 acquisition fee, so I think that's $1,184 off MSRP. I'm actually worried that dealers aren't selling/leasing below MSRP now despite the Acura offer since the 2014 model is new.
This is one case where the Costco Auto Buying program seems to come in handy. Went to the dealer a couple weeks ago, and the Costco discount was $1,000 off MSRP (this was valid for every model). We're specifically looking at the SH-AWD w/Tech, so it would be $48,460 including destination.
I would typically try to get more off the price, but even if you go to another dealer, they'll probably do something like $1500 off, but tack on BS fees. I'll probably swallow my pride and take the $1000 and call it a day.
As for lease rates, 36 months had a 65% residual and 48 months was 55%. It doesn't get much better than that!
If I remember how cap costs work, you need to deduct your down payment. You can probably back into the selling price by taking the cap cost, add the down payment and deduct the acq fee. I remember doing the math a few weeks ago and the lease special does not involve any price reduction other than maybe a few bucks.
I was at Herb Connolly Acura in Framingham, MA last night. Have purchased several Acura's from them over the years and they have generally been very good to us. Managed to get the SH-AWD w/ Tech Package for $47,000 including acquisition fee. Lease worked out to $3000 down and $489/mo before MASS 6.25% sales tax out the door. Nice upgrade for basically the same money on the advertised special on the base model. They didn't have the color in stock that we wanted so that helped a little with the haggling.
Thank you very much for posting this type of detail, it's very helpful for others negotiating deals and congratulations on your new MDX.
Could you clarify one thing? The $3000 down was all cap cost reduction or $3000 out of pocket meaning some of that $3000 went to lease fee, document fees, first months payment and the remainder was cap cost reduction?
I have to sign the final paperwork tomorrow morning and go over the docs, but the $3000 down definitely took care of the lease fee and doc fees and the balance was cap cost reduction. I'm not sure if the 1st month payment was in that, i will have to check it out tomorrow.
This is the deal I got today for 14 AWD tech mdx lease:
15k miles per year 45824 price (invoice price. This is the price I got the deal for) 5500 equity for trade in (I put this in as a down payment which covered the fees and remaining as cap reduction or down payment whatever you call it as) At Preferred credit tier (I was not qualified for premium tier, which would have saved 28 per month) my final payment was at 498 per month including everything. Please comment on my deal.
Ouch, I am being told by a dealership that the residuals dropped 2 points and the money factor went up so it actually became more expensive instead of cheaper.
Why is it so difficult to get lease rates from the dealer. I emailed four separate dealerships in NJ today and none of them emailed the rates back to me. They all wanted me to call them to clarify some things and one dealer went so far as to say they didn't know them and I could only obtain them from the sales manager by making and appointment with him and coming in.
This is the deal I got exactly a week ago for 14 AWD tech mdx lease:
15k miles per year 45824 price (invoice price. This is the price I got the deal for) 5500 equity for trade in (I put this in as a down payment which covered the fees and remaining as cap reduction or down payment whatever you call it as) At Preferred credit tier (I was not qualified for premium tier, which would have saved 28 per month) my final payment was at 498 per month including everything.
I don't know if anything changed in September as I got on 31st aug.. Precision acura is pretty good.
sept lease rates did change as I'm going through a frustrating experience right now.
long story short, local dealer and myself agreed to a price on 8/31. signed the buyer agreement for the cost of the car and put down a deposit. they haven't been able to find a vehicle for me. due to the delay of finding a car, the lease program changed and now the rates went up. rather than honoring the price that we agreed up, they are asking me to pay more per month. lease agreement wasn't signed since they haven't found the car yet. i wasn't super picky either.
not sure if this sounds right, but that's what i'm going through right now. eventhough i have had 2 TL leases and 3 MDX leases.
I wonder if they are trying to discourage people from getting the MDX this month either so that they can catch up with production or use it next month to help boost their 4th quarter earnings.
I am hoping that the "G" was given some incorrect information. When looking at the Acura website for leasing specials on the MDX, it gives a buyout number at the end if the lease which is exactly 65% of MSRP. This is for a 10,000 mile/ year lease so a 15,000 mile per year lease would be 62%. This is a drop from last month but not as bad not the plunge reported by the G.
There may be something to what you say...I finally heard back from a dealership who said 2014 MDX AWD with Tech Package and 15,000 miles per year is a residual of 61%. On the down side, they are quoting the money factor as .00170, so slightly higher than what "G" says, but this could be the dealer artificially inflating or using less than super preferred credit I guess.
So still much more expensive to lease this month versus last and I'm at a loss as to why. Conventional wisdom would say prices would decrease over time as demand drops but who knows.
Currently an AWD Tech MDX is at the following for September 4th through November 4th.
AWD Tech 15k = 61% 12k = 63% 10k = 64%
And the money factor changed by .0001 higher to .00170.
So for the national program special examples, more money down is required to get the same payment as last month.
REMEMBER: Acura dealers do not and cannot change the money factors. That may happen with other brands, along with bizarre "pay multiple security deposits up front to lower cost" of other brands. That's an antique and useless process. With Acura, the rates are the rates and the residuals are the residuals. The only time the rates change are if you have poor credit history, then it's simply a pre-set tier higher.
I got .00150 MF (Super Preferred Credit Tier) last month. The dealer wouldn't give me that rate at first because they (salesperson, sales manager, finance person) said only previous Acura Financial Services customers can get that rate and I could only get .00160 MF. I called Acura Financial Services the next day and they said that was not true and as long as my credit was good I could their best rate. They also asked me the name of the dealer that gave me the bogus info. I confronted the dealer with what I found out and the finance manager coughed up that I could get the Super Preferred Credit Tier with a security deposit. I was happy to put down a security deposit equal to one months payment to save $320 over the life of the lease. The way I looked at it, I was putting $550 (security deposit amount) in a 3 year CD that paid 58% interest.
$595 bank acquistion fee is charged by Acura Financial Service if you are leasing and is legit. Not sure if this can be waived for returning Acura lease customers.
Do you know what date Acura changes over to the October residuals and money factors (I find it isn't always on the calendar month) and do you have those updated rates available on a 2014 Acura MDX SH-AWD with Technology Package on a 36 month 15K per year lease?
It's usually on Tuesday, unless it's a holiday weekend... and, this month that holds true.... new numbers, starting tomorrow.. but, it will be a few days before we have them...
Thank you very much. I heard from a dealer I've been emailing back and forth with today that the rates stayed the same for October. Don't know if that's true because it's amazing the different answers you get from dealers when asking the simple question about residuals and money factors.
All My Local Southern California Dealer is offering following deal based on Costco pricing Price - 46325 MF - .0017 12,000 Miles FWD , Tech 595 acquisition fee Lease 605+ taxes...
Comments
AWD Tech - $44,929
Regional AD fee - $300
Destination fee - $895
Total $46,124
but lets see if carman chimes in
I would typically try to get more off the price, but even if you go to another dealer, they'll probably do something like $1500 off, but tack on BS fees. I'll probably swallow my pride and take the $1000 and call it a day.
As for lease rates, 36 months had a 65% residual and 48 months was 55%. It doesn't get much better than that!
Could you clarify one thing? The $3000 down was all cap cost reduction or $3000 out of pocket meaning some of that $3000 went to lease fee, document fees, first months payment and the remainder was cap cost reduction?
Thank you again.
15k miles per year
45824 price (invoice price. This is the price I got the deal for)
5500 equity for trade in (I put this in as a down payment which covered the fees and remaining as cap reduction or down payment whatever you call it as)
At Preferred credit tier (I was not qualified for premium tier, which would have saved 28 per month) my final payment was at 498 per month including everything.
Please comment on my deal.
Do you have Sept numbers for the MDX?
Does anyone have confirmation on this?
What gives?
15k miles per year
45824 price (invoice price. This is the price I got the deal for)
5500 equity for trade in (I put this in as a down payment which covered the fees and remaining as cap reduction or down payment whatever you call it as)
At Preferred credit tier (I was not qualified for premium tier, which would have saved 28 per month) my final payment was at 498 per month including everything.
I don't know if anything changed in September as I got on 31st aug.. Precision acura is pretty good.
regards,
kyfdx
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long story short, local dealer and myself agreed to a price on 8/31. signed the buyer agreement for the cost of the car and put down a deposit. they haven't been able to find a vehicle for me. due to the delay of finding a car, the lease program changed and now the rates went up. rather than honoring the price that we agreed up, they are asking me to pay more per month. lease agreement wasn't signed since they haven't found the car yet. i wasn't super picky either.
not sure if this sounds right, but that's what i'm going through right now.
eventhough i have had 2 TL leases and 3 MDX leases.
It's odd that I cannot find these numbers anywhere online for September...several sites have them for August and prior, but nothing for September.
http://www.ridewithg.com/index.php/2013/09/2013-14-acura-lease-rates-september-2- 013/
With no money down, I'm calculating a $829 monthly lease payment on a AWD with Tech in NJ with these rates...up from around $600 last month.
It seems Acura is discouraging leases at least for this month; but why?
So still much more expensive to lease this month versus last and I'm at a loss as to why. Conventional wisdom would say prices would decrease over time as demand drops but who knows.
Currently an AWD Tech MDX is at the following for September 4th through November 4th.
AWD Tech
15k = 61%
12k = 63%
10k = 64%
And the money factor changed by .0001 higher to .00170.
So for the national program special examples, more money down is required to get the same payment as last month.
REMEMBER: Acura dealers do not and cannot change the money factors. That may happen with other brands, along with bizarre "pay multiple security deposits up front to lower cost" of other brands. That's an antique and useless process. With Acura, the rates are the rates and the residuals are the residuals. The only time the rates change are if you have poor credit history, then it's simply a pre-set tier higher.
36 Month / 10k per year
0$ Down and $1,108 drive off.
$547.82+tax
Is this a good deal?
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Do you know what date Acura changes over to the October residuals and money factors (I find it isn't always on the calendar month) and do you have those updated rates available on a 2014 Acura MDX SH-AWD with Technology Package on a 36 month 15K per year lease?
Thank you.
regards,
kyfdx
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Let me know what you find out.
Thank you again.
Price - 46325
MF - .0017
12,000 Miles
FWD , Tech
595 acquisition fee
Lease 605+ taxes...
Is this reasonable price?
Did you get October rates yet?
Try this guy.
http://www.legendleasing.com/2014_Acura_MDX