Value and Price Paid for 2019 MDX SH-AWD w/ Tech Lease

div_0305

Hopefully, this discussion is posted in the Values & Prices Paid section.
Lease for 10K miles/year, 36 months
MSRP 52295
Sale: 39045
Due at signing: taxes and fees
Monthly: 452
No loyalty or conquest rebate included as I didn't qualify.

kyfdx

div_0305 said:

Hopefully, this discussion is posted in the Values & Prices Paid section.
Lease for 10K miles/year, 36 months
MSRP 52295
Sale: 39045
Due at signing: taxes and fees
Monthly: 452
No loyalty or conquest rebate included as I didn't qualify.

What is your location?
What was the actual amount Due at Signing?

div_0305

Location is VA (northern VA). Due at signing: 3439 (includes first month payment).

kyfdx

div_0305 said:

Location is VA (northern VA). Due at signing: 3439 (includes first month payment).

Looks good. Especially for VA.

Congrats!

div_0305

kyfdx said:

div_0305 said:

Location is VA (northern VA). Due at signing: 3439 (includes first month payment).

Looks good. Especially for VA.

Congrats!

Thank you!

skarface

Discount looks great. Can you pay off the $39045 and treat the lease as a purchase effectively?

Michaell

skarface said:

Discount looks great. Can you pay off the $39045 and treat the lease as a purchase effectively?

It doesn't work that way.

It's the residual, plus the sum of the unmade payments (less rent charge, we think) that is your buyout price.

kyfdx

skarface said:

Discount looks great. Can you pay off the $39045 and treat the lease as a purchase effectively?

Yes... that's basically it.

90 days after lease commences, you can pay it off. If you have cash or outside financing. Acura Finance has no obligation to give you a loan for it.

div_0305

kyfdx said:

skarface said:

Discount looks great. Can you pay off the $39045 and treat the lease as a purchase effectively?

Yes... that's basically it.

90 days after lease commences, you can pay it off. If you have cash or outside financing. Acura Finance has no obligation to give you a loan for it.

This is news to me. I might do that. Buying out right would be about $3K more than lease sale price. Leasing at this price and then buying it out after 90 days would be a deal--I could get loan pricing from my credit union.

Davercee

Hmm, at least we learned something new today. Might as well keep this in mind.

skarface

kyfdx said:

skarface said:

Discount looks great. Can you pay off the $39045 and treat the lease as a purchase effectively?

Yes... that's basically it.

90 days after lease commences, you can pay it off. If you have cash or outside financing. Acura Finance has no obligation to give you a loan for it.

Thanks, any idea what the added fees, interest etc. would be on this purchase? I'm trying to figure out if this is as great as it initially looks to me. If the straight purchase price is $1-3k more, I'm trying to figure out what the breakeven point is in taking the lease and just buying it out.

Michaell

skarface said:

kyfdx said:

skarface said:

Discount looks great. Can you pay off the $39045 and treat the lease as a purchase effectively?

Yes... that's basically it.

90 days after lease commences, you can pay it off. If you have cash or outside financing. Acura Finance has no obligation to give you a loan for it.

Thanks, any idea what the added fees, interest etc. would be on this purchase? I'm trying to figure out if this is as great as it initially looks to me. If the straight purchase price is $1-3k more, I'm trying to figure out what the breakeven point is in taking the lease and just buying it out.

No acquisition fee if you buy.
Still have a dealer fee, either way.

Interest on a loan, if new, is likely less than the equivalent MF conversion if you lease.

skarface

How much do they charge for the acquisition fee? I would normally go and make a cash purchase but if there are incentives to finance or do a lease that make it cheaper than just paying cash up front I'm open to that. Do you know what the interest would add up to? Would it be better to do a short lease then buy out if I'm planning to do what I described? Like a 12 month lease so I keep the interest down?

Michaell

skarface said:

How much do they charge for the acquisition fee? I would normally go and make a cash purchase but if there are incentives to finance or do a lease that make it cheaper than just paying cash up front I'm open to that. Do you know what the interest would add up to? Would it be better to do a short lease then buy out if I'm planning to do what I described? Like a 12 month lease so I keep the interest down?

$595 acquisition fee

Shortest lease term from Acura is 24 months.

skarface

Does Acura Financial still charge interest on the remaining payments if you do a buyout on the lease? You would pay less than the sum of remaining payments plus residual on a lease if you pay it off early, correct? The monthly amount would be less the interest added to the remaining payments?

Michaell

skarface said:

Does Acura Financial still charge interest on the remaining payments if you do a buyout on the lease? You would pay less than the sum of remaining payments plus residual on a lease if you pay it off early, correct? The monthly amount would be less the interest added to the remaining payments?

Not certain if Acura does or does not collect the rent charge if you buy out the lease early.

kyfdx

skarface said:

Does Acura Financial still charge interest on the remaining payments if you do a buyout on the lease? You would pay less than the sum of remaining payments plus residual on a lease if you pay it off early, correct? The monthly amount would be less the interest added to the remaining payments?

Correct.

skarface

kyfdx said:

skarface said:

Does Acura Financial still charge interest on the remaining payments if you do a buyout on the lease? You would pay less than the sum of remaining payments plus residual on a lease if you pay it off early, correct? The monthly amount would be less the interest added to the remaining payments?

Correct.

Ok, I'm getting mixed answers on this one. Someone called Acura and they said it was the same as paying off the remaining payments and buying it out. That doesn't sound right to me so I'm hoping the representative was wrong and you're right. Another person said you only pay the 'principal' without the added interest, which was the amount they were sent to pay off. Sucks that it seems like the only way to know for sure is to actually have a lease and get the pay off information.

kyfdx

skarface said:

kyfdx said:

skarface said:

Does Acura Financial still charge interest on the remaining payments if you do a buyout on the lease? You would pay less than the sum of remaining payments plus residual on a lease if you pay it off early, correct? The monthly amount would be less the interest added to the remaining payments?

Correct.

Ok, I'm getting mixed answers on this one. Someone called Acura and they said it was the same as paying off the remaining payments and buying it out. That doesn't sound right to me so I'm hoping the representative was wrong and you're right. Another person said you only pay the 'principal' without the added interest, which was the amount they were sent to pay off. Sucks that it seems like the only way to know for sure is to actually have a lease and get the pay off information.

I agree... it will be hard to get a definitive answer, if you aren’t already a customer. No one at Acura Finance calculates a lease payoff. They punch in an account number, and the computer spits out the number.

Of course, I’m right!

chuckjr

FYI, when I called a dealer looking to combine a TrueCar USAA discount with lease cash it didn't go over. But what he did say was that they were offering $12k off all 2019 MDXs. He didn't care whether it was lease or sale. Price was $40,175 tech. I have an email out looking for better. Local LA quoted me $39,675 on tech