Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Did you get a great deal? Let us know in the Values & Prices Paid section!
Meet your fellow owners in our Owners Clubs

2013 and earlier-Acura MDX Lease Questions

13468955

Comments

  • brsheabrshea Posts: 2
    Looking at a 2006 MDX Touring with Nav and RES.
    36 month, 15K miles.

    MSRP: 45210.00
    Price: 43837.25
    Residual: 22855.65 = @ 50.5%
    Factor: 00122
    Payment: 723.97, including 9% sales tax

    I live in Baton Rouge - any thoughts on these figures will be welcomed. For those of you in other parts of the country, SUV's in the south are extremely popular, but I still have concerns about price. Also not sure why MSRP is as high as quoted since I think it should be 44.8K.
  • Hi dgkli. I believe that you are correct that Honda Finance's residual values for the 2006 MDX are not quite as attractive now as they were several months ago. They are not that different though. Acura is still advertising the same $399 a month, $1,000 down lease on the MDX now as it was several months ago.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hello sl1288. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive an Acura more than this, 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
    Host
    Smart Shopper / Prices Paid Forums
  • Hi yato1. It doesn't hurt to evaluate the deal that you got on your MDX to learn whether you could have done better and use that knowledge to your advantage the next time that you are in the market for a new vehicle, but you can't change your current lease at this point. The lease money factor that was used to calculate your truck's lease payment is right in line with Honda Finance's current buy rate money factor for the MDX. this is a good thing because it means that the dealer that you are working with did not mark your vehicle's money factor up to add additional back-end profit to your deal. The other main aspect of deals that dealers can profit from is vehicles' selling prices. You were given a $1,550 discount on the MDX that you leased. You never mentioned exactly how your truck is equipped, but a base '06 MDX has a spread of over $3,600 between its full MSRP and dealer invoice prices. I suspect that if you are in an area where there is a decent level of competition that you might have been able to do a little better than the price that you got by comparison shopping. For information on how much other community members have paid for similar trucks lately, make sure to stop by the following discussion: "Acura MDX: Prices Paid & Buying Experience".

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi brshea. Acura's current special lease program for the 2006 MDX is only available for up to 36 months, so you definitely do not want to lease one for 39 months. If you do, the money factor that you have to pay will more than double. Your exact lease payment will vary depending upon your truck's selling price. Do you know what you want to pay for it yet? If not, stop by the following discussion to see how much other community members have recently paid for theirs: "Acura MDX: Prices Paid & Buying Experience". Once you have an idea of how much you should pay, let me know and I will be happy to calculate a lease payment for you. If you need to drive more than 15,000 miles per year you will need to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to pay an excess mileage penalty at lease-end.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Greetings bern3. You never mentioned the selling price or MSRP of the MDX that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you feedback on this deal if you let me know what these numbers are.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • sl1288sl1288 Posts: 55
    Car Man,

    Thanks for the reply. Is there a specific way to buy or negotiate the price for additional milesup front on a lease. Do you have any idea what the cost is or should be? Thanks
  • Hi janssen1. The lease rate that you were quoted for the MDX that you are interested in is right in line with Honda Finance's current buy rate lease money factor for it. This is a good sign because it means that the dealer that you are working with is not trying to add additional hidden back-end profit to your deal by marking your vehicle's factor up. The selling price that you were quoted looks reasonable to me as well, but you may want to stop by the following discussion to compare it to the prices that other community members have recently paid for similar trucks: "Acura MDX: Prices Paid & Buying Experience". Having said this, you're right the lease payment that you were quoted does look a little on the high side. I can't really estimate what your exact lease payment should be on this truck though because I do not know which of the dealer installed options that you are getting can be residualized.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi brshea. Acura's current full MSRP for a loaded 2006 MDX with the navigation and entertainment system options is only $44,815, including the destination charge. Either the truck that you are interested in has all sorts of dealer installed options, or the dealer that you are working with is trying to artificially inflate your truck's price. The selling price that you were quoted looks a little high to me as well. The dealer invoice price for the aforementioned truck is only $40,442. A reasonable profit of $1,000 over that (I have seen consumers get the MDX for less than that in areas with decent levels of competition) would only put you at $41,442. I personally would pass on this deal.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • You're welcome, sl1288. I do not know how much Honda Finance charges per mile for additional miles purchased at signing, b ut if I am not mistaken I do not believe that dealers can mark-up the cost of purchasing additional miles on leased vehicles so you shouldn't have to worry about negotiating this aspect off your deal.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • mayritzmayritz Posts: 4
    :confuse:
    36 month lease with 12,000 miles per year
    2006 MDX Premium
    Money Factor: 00122
    Residual: 57%
    Monthly payment includinng tax: $454.31
    Acquisition Fee: $595
    Tax: $53.55
    Tag and Title: $163.50
    Down: $1264.36
    Gap Insurance
    20 cents per mile overage

    Considering the MDX will be redesigned for 2007, does it make sense to wait until September or so to get a better deal? Any thoughts?
  • scott31scott31 Posts: 292
    Carman, I'm not sure I'm using the right term, but does AHFC offer balloon note financing? It's like a lease, but the car is in your name and there is no Acq fee.

    I did this on my current Mazda 6 and couldn't be happier. If they do offer it, do you know the resd and % rates?

    Thanks!

    Scott
  • dcoxdcox Posts: 3
    Received quote for the following 2006 Acura MDX Touring with NAV/RES

    MSRP as Equipped: $44,815
    SELL as Equipped: $39,500
    Annual Mileage: 15,000 miles
    Lease Factor: .00122
    Residual: $22,855.65 (51%)

    Monthly Payment: $573
    Amount Due @ Signing: $1,045
    Breakdown of amount due @ signing:
    1st Month's Payment: $573
    Documentation: $398
    Reg/Tag: $74
    Total: $1,045

    I'm okay with the payment but not the out of pocket expenses. Are these customary or negotitable? I don't want to let a good deal get away. Help Car_Man! :(
  • slurisluri Posts: 37
    car_man,
    could you please provide us with june's:
    money rate, residual.
    also for a 2006 MDX Touring with Nav - 15K year with selling price at invoice.(i guess around 39,000)
    also for a 2006 MDX Touring NO Nav - 15K year with selling price at invoice (i guess around 36-37,000)

    also what are the incentives for purchase?
    thanks
    sluri
  • slurisluri Posts: 37
    Car_Man,

    Could you please help me (us) with the question above, i got a few offers and i need to tell them something, but everyone is shady and you are the only one we can trust......
    please help!!!!!!

    sluri
    (not really that urgent but I am sure it makes you feel like a superhero)
  • slurisluri Posts: 37
    Car_man,

    are you still with us? in addition to the question on top, edmunds now shows 1000 to dealer incentive with no limitations (lease or finance) is this true?
    thanks
    sluri
  • slurisluri Posts: 37
    Just leased an MDX Touring w/navi from Davis Acura in PA. Let me tell you they were great to deal with. I was dealing with Sussman Acura, but they are AWFULL!!!! We worked on a deal for 2 weeks only for them to come back at last minute after the deal was agreed on for them to say they wouldn't do it. I got practically the same deal from Davis in a matter of 30 minutes without all of the hassles. Their GM's at Sussman were just lousy. So anyone in PA or NJ area looking for an MDX I recomend Davis. If you want some numbers, 650 drive off including 1st month, 15K/year, 560/month including pa's 9% tax. I believe the residual and the money factor are the same (54% and .00122). If you want name of my salesman (great guy) let me know. The thing that was interesting is that, he also told me that their upcoming "RDX" allocation is dependent on their MDX sales this month. So everyone should be getting great deals.
    Sluri
  • hablavhablav Posts: 2
    Car_Man,

    Wanted to see if I got a decent offer. Hopefully this is enough information:

    MSRP: $43315
    Sale Price: $39074
    12K Miles/Year
    Trade Allowance: 7500 but still have 8200 remaining in payments, -700 Diff

    Monthly Payment: $598
    No $$$ due at signing
  • Hi Scott. I believe that Honda Finance does offer balloon notes on Acura models. unfortunately, given how much less popular they are than leases, I do not personally keep tabs on the details of manufacturers' balloon note programs.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hey dcox. The two main negotiable aspects of this deal, your vehicle's selling price and the money factor that is being used to calculate its lease payment look great to me. The only item that you are being asked to pay at lease signing that is not required is the $398 doc fee. This is essentially added dealer profit. If you don't want to pay it, you can always try to have the dealer lower your truck's selling price by that amount. Even with this fluff, the price that you are being asked to pay is still reasonable.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Here you go, sluri. If you were to lease a 2006 Acura MDX Touring with Navigation through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00122 and 53%, respectively. The money factor for an '06 MDX Touring without navigation would be the same, but the residual value would be 54%. I believe that Acura is currently providing $1,000 dealer cash on the '06 MDX, but this cash cannot be combined with the aforementioned special lease program.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi hablav. The selling price that you were quoted looks reasonable to me. Using the numbers that you provided in your post, an MSRP of $43,315 and a selling price of $39,074, and Honda Finance's base lease program for an '06 MDX Touring with Navigation, I estimate that this truck's zero down, pre-tax, 36 month, 12,000 mile per year monthly payment should be around $501. As you can see, the payment that you were quoted looks a little high. Make sure that the dealer that you are working with is using Honda Finance's .00122 buy rate lease money factor to calculate your truck's monthly payment.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • rsd27rsd27 Posts: 4
    What is the best lease price for a 2006 MDX Touring with Navigaion and running boards for 36 mos and 15k miles per year. I want to roll in all NYS (8.625%)taxes, bank fee at $595 and running bd which is ?$695 or maybe less if discounted or thrown in. The money factor is .00122 and the residual is 53%. I understand the invoice is $39,092 and MSRP IS $43,315 without running bds. Will a dealer go under invoice? How much under or over is the best deal obtainable? I only want to pay my 1st month and DMV and no termination charges or surprises.
  • slurisluri Posts: 37
    just check my message above and that was the deal i was able to get in pa with 9% included in it.
    sluri
  • awinnerawinner Posts: 26
    Live in Los Angeles. Looking for a 3 year lease, 12k miles on an '06 MDX w/ Touring Pkg. & chrome side steps. The best deal so for was $2,000 total drive off & a monthly payment of $425.90 + tax. Take it or work it a little better?
  • dcoxdcox Posts: 3
    Thanks Car_man for the feedback. I ran with this deal since I couldn't get any other local dealers to match the price in spite of the doc fee. I am very pleased with the MDX so far and my 12-year old Integra GSR is happy to have another family member in the garage! :)
  • evisionevision Posts: 6
    Best deal in South Florida is
    $40,565 MSRP
    36month 10k/yr,
    $36,917 Net Cap Cost
    57% Residual
    .00122 Money Factor
    $2200 down (including 1st payment, 6.5% tax, $188.50 tag/title, $599 dealer fee, $595 bank fee and $935 cap cost reduction) to make the monthly payment
    $478.16 Monthly Payment including tax.

    Another dealer said he would beat that at $2200 down and payments would be $468.60 including tax. $10/month savings taking a few hundred off the Net Cap Cost.
  • slurisluri Posts: 37
    you can log onto dslreports.com and send me a pm at my user name sluri.
    i can give you the salesmans name, dealername etc. since it is illegal to do so here.
    sluri
  • davedkedavedke Posts: 4
    Thanks sluri. I went to a dealership in northern NJ yesterday and used your deal to get a good one myself. '06 MDX Touring with Navi, 12K/36mo, no money down except NJ's inception fees, 520 per month including NJ's 6% tax. Came to an agreement at 38,500. Very pleasant to deal with. Test drive plus negotiation took about an hour total. Thanks all.
  • slurisluri Posts: 37
    Congrats, enjoy it. I love the voice commands and hate the mpg but i knew what i was getting into with that.
    sluri
  • davedkedavedke Posts: 4
    Are you not getting close to 17 city and 20 highway? How is the navi? From what I read it's supposed to be much better than other companies. Do you use the voice commands a lot? I pick up my car next week and can't wait. Can't picture how to use voice commands with navi, but I guess I'll have a lot of stuff to play around with. Thank you again for detailing your deal b/c it made my negotiation so much easier.
  • Car_Man,

    Acura is once again offering this Lease special and definately like to go for it. I came across this forum checking for articles on leasing and buying new cars.

    Anyway, what I've been reading so far sounds real good to my ears. Selling price close to invoice, payments less than 600 a month. That's exactly what i'm looking to get, if i can. So my question to use is where do i start, or what should I do first?

    FYI: I'm located in NC and I'm looking to get '06 MDX with Nav and RES.

    Thanks in advance - mr_bostitch
  • Hello rsd27. If you are in an area that has a decent level of competition, you probably should be able to get an '06 MDX for a couple hundred dollars over dealer invoice. Make sure to stop by the following discussion for additional feedback on how much you should pay for this truck: "Acura MDX: Prices Paid & Buying Experience". Let's say that you were able to get this truck for $500 over invoice. According to my calculations, if you were to lease an '06 Acura MDX Touring with navigation but without the entertainment system with an MSRP of $43,315 and a capitalized cost of $40,187 ($39,092 invoice + $500 + $595 acquisition fee) through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $533.

    Car_man
    Host
    Prices Paid Forums
  • Hello awinner. You never mentioned the selling price or MSRP of the MDX that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
    Host
    Prices Paid Forums
  • No problem, dcox. Enjoy your new Acura!

    Car_man
    Host
    Prices Paid Forums
  • Welcome mr_bostitch. The first place to start when leasing a new vehicle is to negotiate as attractive a selling price as possible. It looks like you are already headed in the right direction if you were quoted a price that is close to dealer invoice. Just make sure that the price that you were quoted is good on leases, not just vehicles financed or paid for with cash. Acura is currently providing $1,000 dealer cash on the '06 MDX. This dealer cash is not compatible with its special lease program though. If you are in an area that has a decent level of competition, you should be able to get close to invoice without this cash...just make sure that the dealer knows you are leasing. Once you have arrived at an attractive price, have the dealer that you are working with calculate your truck's monthly payment using its buy rate lease money factor. Honda Finance's current buy rate for a 36 month lease of this truck is .00122 for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid Forums
  • ballasballas Posts: 3
    Car_man,

    I was quoted the following on a 06 MDX with navigation and satin side-steps: MSRP 43715, Negotiated Price of 39,487 but the sidesteps were later on residualized on the lease worksheet which brought the MSRP up to 43,715 from the usual 43,315. It is a 36 month term with 10K per year and a RV=56%, and the aforementioned rate of .00122. The initial payment is 2298.72 including the first month. He has quoted a price of 523.38 with the residual value of 24480.40. Is this a good price in St. Louis, MO? I think it is beating the Lease Special but the upfront money is a concern.
  • avatexrs1avatexrs1 Posts: 63
    When Acura/Honda Finance offers a special lease rate for a specific number of months - e.g., the current money factor of .00122 for a 36 month lease - does that apply regardless of (1) what actual selling price one is able to negotiate for the car, (2) whether sales tax is rolled into that amount, and (3) the amount (if any) paid at closing to reduce the cap cost?

    Would it also apply regardless of how many miles are allowable per year - I understand that the residual value will change and therefore the cap cost would change if the annual mileage allowance changes, but would the money factor stay the same?
  • Hello,
    I have a 2003 TL finishing lease in Oct. I negotiated the 360/month payments and a buyout of 15.5k at the end. I was scheduled for 15k a year, but I've only driven the car 25k thus far. Here's my dillema - I want a new lease either for a TL or MDX. However, knowning that my car is worth about 3-4k more than the buyout, I don't know how to handle the lease closure. Here are the options that I have been able to come up with:

    Option A: Sell the car, use the profit to decrease the monthly payments of a new lease and keep the 15.5k. Is the market really bad right now for used vehicles?

    Option B: Bring it to the dealer and try to somehow trade it in for the MDX. I've contacted one dealer thus far and he told me,"We have a ton of these anyway that we're buying at Auction for 16k, so it's not beneficial to trade." Is this really true.

    Option C: Buy this car(I love it) and get another Acura (either MDx or TL, I can't decide). Hope they give me a decent deal on a new lease.

    Thanks,
  • bignasty1bignasty1 Posts: 26
    if you buy it, you will have to pay sales tax which can be costly and a lot of risk just to save a couple thousand. i would try and trade it in and hope to save a thousand or two that way. Don't mention it's a lease and negotiate both price of the new car and buyout of the other.
  • lm_cincylm_cincy Posts: 11
    Does anyone know what the money factor is on the Touring Model?

    Also, what is the residual for 36-month / 12K lease?

    THANKS!!
  • pete29pete29 Posts: 5
    MSRP as Equipped: $42,065
    SELL as Equipped: $35,500
    Lease Factor: .05225
    Monthly Payment: $572.50 (includes tax)
    Total Due At Signing: $900

    I was told that the sell price includes a portion of the dealer hold-back.
  • pete29pete29 Posts: 5
    As a follow-up to my earlier message, has anyone heard that Acura is discontinuing the DVD as a stand alone option (i.e., without NAV)?
  • rsd27rsd27 Posts: 4
    What dealership are you working with? I'm looking for a 2006 MdX with NAV only, 15k mi and taxes rolled into the payment.
  • njdad1njdad1 Posts: 4
    Acura is offering $399/month lease for 36 months on the base model MDX. Is this a good deal? And any thoughts on DCH Acura in Verona NJ vs Springfield Acura?
  • lm_cincylm_cincy Posts: 11
    Does anyone know if the extra cash to dealer incentive in July will help the leases? or is this finance only?

    THANKS!
  • Hi ballas. If I recall correctly, the money factor and residual value that you were quoted for this truck are right in line with its June lease program. If you haven't finalized your deal yet, you will have to use Acura's new July lease program. Its July numbers for a 36 month lease of an '06 MDX with navigation but without the entertainment system and with 10,000 miles per year are .00225 and 54%, assuming that you pay a security deposit and qualify for Honda Finance's "Super Preferred" credit tier. The selling price that you were quoted looks good to me for the month of June. However in July, Acura increased its dealer cash on the '06 MDX from $1,000 to $2,500 and made it compatible with leases through Honda Finance, when last month it was not. As a result, you should be able to negotiate a capitalized cost for this truck that's about $2,500 less this month.

    If you are concerned about the amount of money that you will have to pay at lease signing, insist upon not making a capitalized cost reduction. If you don't pay one, all you will have to pay is your vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, Honda Finance's $595 acquisition fee, and any required state taxes or fees at signing.

    Car_man
    Host
    Prices Paid Forums
  • Yes, avatexrs1, the selling price that you are able to negotiate on your car is completely independent from its money factor. The selling price is between you and the dealer you are negotiating with and the money factor is supplier by Acura through Honda Finance. Whether you pay your vehicle's sales tax at lease signing or roll it into your car's capitalized cost will not have any impact upon its money factor either. Neither does the down payment that you choose to make. The only factors that will increase your vehicle's money factor are if you opt to have your car's security deposit waived, if you don't qualify for Honda Finance's top credit tier, or if the dealer that you are working with tries to mark your vehicle's money factor up to add additional hidden back-end profit to your deal. Honda Finance will waive its lease security deposit requirement, in exchange for an increase of .00010 in your vehicle's money factor. You need to have a credit score of 710 or higher to qualify for Honda Finance's "Super Preferred" credit tier.

    Your vehicle's mileage allowance will not have any impact upon its money factor either, but it will have an impact upon its residual value. Changing mileage allowances will have no impact upon your vehicle's capitalized cost either, just its residual value. Vehicles that are leased through Honda Finance for 36 months with 12,000 miles per year have residual values that are 2% higher than its 15,000 miles per year residuals. Vehicles with only 10,000 miles per year have residuals that are 3% higher. The lower your vehicle's mileage allowance is, the higher its residual value will be, and the lower its monthly payment will be.

    Car_man
    Host
    Prices Paid Forums
  • Hi lm_cincy. Here's the info for Acura's new July lease program. If you were to lease a 2006 Acura MDX Touring without the navigation or entertainment systems through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00225 and 54%, respectively.

    Car_man
    Host
    Prices Paid Forums
  • Hello pete29. I believe that you made a typo when reporting this truck's money factor. Acura's July buy rate lease money factor for the 2006 MDX is .00225 for up to 36 months. The selling price that you were quoted for this truck is great, it's right around dealer invoice minus the $2,500 dealer cash that is available on it right now. You never mentioned how long this lease is for or how many miles per year it includes so I can't comment on its payment, but the money factor (assuming that you made a typo) and selling price look good to me. These are the two most important parts of a lease anyhow.

    Car_man
    Host
    Prices Paid Forums
This discussion has been closed.