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2013 and earlier-Acura MDX Lease Questions
CarMan@Edmunds
Member Posts: 38,514
Hi everyone. Please use this discussion to post any specific questions that you have about leasing an Acura MDX.
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First of all - are dealers willing to negotiate on this deal or its pretty much firm and if they do what kind of deal can I expect ? What did they give for you ? Which things are most negotiable (new vehicle price, lease end(depreciated) value, monthly, down, option to purchase at lease end price, etc..) and what are not ?
Secondly, is it a good idea to purchase an MDX at the end of the 3-yr lease at that price or it doesn't make sense ?
Thanks!
As far as the specific lease that you mentioned goes, manufacturers usually leave a little meat on the bone so to speak with their advertised lease payments. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you negotiate a lower selling price on this truck than the one that was used to arrive at the advertised payment, and there is a good chance that you will be able to, its monthly payment will be a little lower. The selling price is really the only aspect of leases that is negotiable. You need to make sure that the dealer that you are working with is using American Honda Finance Corp.'s buy rate lease money factor to calculate your truck's payment though. Consumers can and should lease vehicles without making any sort of capitalized cost reduction, aka down payment. If you opt for a zero down lease though naturally your monthly payment will be higher than if you had put money down. Vehicles' residual values, and in turn their lease-end purchase prices are not negotiable at lease signing. Some banks will negotiate the selling prices of leased vehicles a month or two before they are scheduled to end, but you can cross that bridge when you come to it.
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You might see me on some other post (FX35-Audi Allroad-Pilot)
I am in the market for a new SUV/Wagon.
I am hoping to get the sept residuals and money factors of 2005 MDX's 3 years 15K a year
Thanks KA
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KA
Leasing offer was as below.
42months.
$700
20,000 mile /year
Downpayment $1000
Is this good deal?
Thanks for your reply.
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Purchase price - 34,300 (includes adding roof rack which is not standard on Base MDX)
42 months
15K /year
Res val: 20,258
Monthly payment: 412.25 (plus 5% MA tax)
Down: 3397 (1599 plus 1st month payment, plates/reg, bank fee, plates and registration, sec deposit, 5% tax)
I have no idea if this is a good deal or not. I did try and negotiate the purchase price close to invoice and got them to throw in the roof rack after that. Its such a painful process -- back and forth to the manager with this and that, its enough to drive you crazy....I also was negotiating a trade in on top of everything else. I probably could have pressed for more off the purchase price, but frankly after about 2 hours, I was tired. Well, good luck. Its a great truck, can't wait to pick it up in a few days. I got Sage with black interior.....
36 mo, 12K miles
$399/month includes 6% NJ tax
Cash at time of signing = $2690 includes all fees/sec dep/first mo payment/lic/etc
Good Deal or keep at it?
Thanks!
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MSRP $40,295 Cap Cost $35,200 36 months at $498.94 plus tax or $535.11
12,000 miles per year allowed Payment based on El Dorado County Tax rate
Total Drive Off $882.12 (includes first months payment, license fee, doc fee and CA tire tax)
Good deal? I sent another dealer the deal and they said they could beat the monthly payment by $6.
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Thanks for your analysis. Well, they reduced it to:
$513.94 ($479.20 pre tax) for 36 months with 12k miles per year with $860.95 due at signing.
Will I do better negotiating $37,000 as the purchase price and go with the special lease through AHFC?
I am supposed to go to the dealer tomorrow morning.
Thanks!
But Car_man said that the $1500 dealer cash is not compatible with the special lease from AHFC. Therefore, the deal would be $35200 + $1500 = $36700. That is $300 over invoice (including destination). Maybe I could get them down to $36500. If I'm getting $35200 for the purchase price, then they are probably using another bank.
Thanks.
Out the door $931 (license, tax and frist month payment) with $514 (with tax monthly) for 36 month 36000 miles.
The Acura or Honda has best price for 36 months lease. Dealership always tries to sell you the 39 months lease since they seem less both actually more for the price you paid
Thanks for your posting. I am planning to lease 2005 MDX and I live in the bay area. In the above article, you quoted a price for lease. Where can I find this deal? I am looking to lease in a day or two. Your help is appreciated.
I have been offered the following:
MDX Touring with NAV+Entertainment Package
Purchase Price: $ 38,180+fees
36 months, 15000 miles/year
Lease Payment: $ 588 + $1004 down
Can anyone help me out to see whether it is a good deal or not?
Btw, this is my first leasing experience.
Thanks.
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Also, will there be any additional exterior colors offered for 2006?
Anyone have the october rates on MDX's right now w/ navi?
Thanks
ka
I do not know if the 2006 MDX is being offered in any new colors, but you may be able to find out by visiting the following discussion: "Acura MDX".
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What did you mean by "Acura will probably not initially provide any sort of lease support on the '06 MDX though."?
Finally, I plan on leasing for 36 months and will want 15,000 miles per year. I will probably pursue a Touring model and possibly add a DVD system. That leads to another question. I would prefer a DVD system with the screens in the headrests instead of a flip down screen (blocks the rearview mirror). Is there any way to have an aftermarket DVD system installed and have it incorporated in the lease?
I would be looking at 36 months and 15K miles
thanks
ka
If a manufacturer is not providing special lease money factors on a vehicle and you want to lease it through its captive finance company, in this case Honda Finance, you will have to use its standard lease money factors. On this particular model, Acura's money factor on the 2005 MDX is .00160, but since is is not supporting the 2006 MDX yet its money factor is higher at .00250. These are equivalent to interest rates of 3.84% and 6.0%, respectively.
You probably can have an aftermarket entertainment system put into your leased MDX rather than going with the factory installed one. However, aftermarket parts, like DVD screens in vehicles' headrests, cannot be residualized. This means that you will have to pay for the full cost of the system that you have installed over the course of your lease, rather than for just a percentage of it like you would have been able to do with a factory installed system. Let's say that the DVD system that you want costs $2,500 and you lease for 36 months. Having it put in your leased MDX will increase your monthly payment by almost $70 per month.
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I notice that the deal that you were quoted requires a $1,599 down payment. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your MDX would be exactly the same, regardless of whether you had put $1,599 down, or had made absolutely no down payment at all.
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I just got a quote on a lease for a '06 Acura MDX (MSRP $44,500) with absolutely everything for $1650 out the door (no cap cost reduction), 12k per year, $610 + tax for 42 mos., or $653 + tax for 36 mos.
I leased a '05 RL for less than the above which makes me think I could do better. What do you think?
Thanks.
Alternatively a 36 month lease on the same vehicle with a selling price of $40,487 came to $647/month (including taxes) with no money down for taxes or registration costs.
Can I do better ?
Cseetham
If that turns out not to be the case... then you have problems... but, I doubt it..
regards,
kyfdx
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Can you please provide me with the November Honda Finance money factor and residual value for the 05 and 06 MDX for a 3 year 12k per year lease on both the base model and the touring model, no nav or res.
I was given the following lease quote for an 06 MDX Touring w/ Nav, is this a good deal?
42 month lease with 15k miles a year.
MSRP: $43,315
Cap cost: $39,895
Residual percent: 54%
Residual value: $23,552.10
Side steps: $648 installed
Drive offs: $2,495
Base payment: $538.77
Tax: $41.75
Total monthly: $580.52
Thanks!
If you were to lease a base 2005 Acura MDX 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 .00260 and 58%. The numbers for an otherwise identical lease of an '06 MDX Touring without nav or entertainment should be .00260 and 56%. When negotiating your lease on the 2005 model, make sure to take the $1,500 dealer cash that Acura is currently providing on it into account.
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