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2013 and earlier-Acura MDX Lease Questions
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I am interested in leasing an Acura MDX. Got Touring quote of:
price of the vehicle- 40.5K
36 Month/36,000 Mile Lease
$522.03 per month including tax with $545.03 due at signing (includes first month's payment, license plate transfer, and title)
OR
$460.18 per month including tax with $2,603.18 due at signing (includes $2,000.00 down, tax on down payment, first month's payment, license plate transfer, and title). I have little to no intention of buying it out after the lease is up. Are these lease figures competitive in MI?
Thanks - Sam
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I have been getting quotes on the 06 MDX from internet managers in my area. For the touring package (no Nav or dvd) the best quote so far is $36,117 not including tax and tags. Destination charge is included. This is in PA. I think this is a competitive rate. I have not told them I am leasing. When I was in the showroom of one dealer to test drive they said lease an 06 standard package for 36 months was $399 currently. That was with a higher vehicle price (About 37 ish). What lease payment should I expect with this price of 36,117? Also I want to trade in a vehicle. I was told to hold that thought until I get the lease payment and then tell them. I'd like to ask them for a check for the trade in independent of the lease so they don't blur the value in the lease calculations? Lastly is there any gain by purchasing in Delaware where there is no tax or will I have to pay the tax when I do the docs for PA? Thanks so much. Any advise is appreciated.
-KM
Need your help. I'm looking at leasing an 06 MDX with tour/nav/res. MSRP is $44,815 including destination and I've been quoted $582/month, pre-tax, with zero down (other than first month, fees and taxes)on a 36 month/15,000 miles per year lease. I was told the residual is $24,200 or 54% (assuming Honda finance with top credit). Is this residual accurate? Also, your thoughts on the $582/month? Thanks for your help. DOC
I am trying to lease an 06 MDX Touring with DVD and NAV.
I am being given a money factor of .00140 and a 57% residual? Is this right for NJ and PA area? Or should I be lookinig for a higher residual rate.
Thank You in advance.
2006 MDX Touring no nav/no dvd
36 month - 30,000 miles
24,700 residual(61%)
money factor:0.00125
trade in of 4,000
monthly payment including taxes and all: $487
(they did throw in the side molding for "free")
What do you think?
Hello CarMan. I did not do any lease research beforehand and I believe I got screwed. I bought in Houston, TX.
2006 MDX Touring no nav/no dvd
36 month - 30,000 miles
24,700 residual(61%)
money factor:0.00125
trade in of 4,000
monthly payment including taxes and all: $487
(they did throw in the side molding for "free")
What do you think?
Keep in mind that the money factor they are using on the 06 standard package is .0014, and it is good on ALL MDX models, they just don't advertise it.
I don't know the sales tax in PA, but in NJ we have 6%. different sales tax affects each pyment. In NJ your payments would be roughly $445/mo with no cap cost reduction for 10K mi. a year. Decrease it by 6%, apply PA sales tax, and you have a number to shoot for.
Now, at .0014 money factor you should expect a $3 (trhree)increment/decrement of a montly payment for every $100 increment/decrement of the up-front-negotiated price.
if your lease is for more than 10K a year, the residual changes and the payments do, too - apply $15/$500 formula
Good luck
Sorry to butt in. I don't think you got screwed, per se. If you drove off without paying a penny, meaning they rolled all the fees and the 1st month payment into the rest of your payments, it means that they gave you a lease out of full MSRP of the vehicle. Were you to negotiate the price up-front, you could have had your monthly payment reduced.
From the math that I have done since leasing the vehicle, the monthly payment would have been about right had I added the DVD system.
Oh well, I guess you live and learn.
MSRP:44,815
Price Paid: 40,000
Lease Deal...
Money Factor the standard: .00140
Residual: 57%
$2000.00 out of pocket (Cap Cost)
Monthly payment: $520.00
Good deal or bad deal? Any thoughts?
Thanks for your help.
For the said price, and assuming 57% residual (not sure for 15K) you can get a $450/mo payment by putting down $2000.
Hope it helps
Unfortunately, you will not be able to avoid paying Pennsylvania sales tax by getting your new vehicle in Delaware. When you go to register your MDX in PA you will get hit with a bill for the sales tax.
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I'd be happy to estimate what your lease payment should be on the truck that you are considering if you provide me with its MSRP and selling price. If you can get it for $500 over invoice, you can sub the invoice price for an actual selling price. This information is available in the following section of this site: Edmunds.com New Vehicle Pricing.
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The MSRP incl destination charge was 40,565. I did not negotiate price as I was not aware you could do that on a lease, so, the selling price was the same. I did not pay anything at closing outside of the trade in.
Please look at my post you originally responded to to get my other stats and please let me know how bad I got screwed so I can start to get over it.
Thanks.
Price Paid: 40,000
Lease Deal...
Money Factor the standard: .00140
Residual: 57%
$2000.00 out of pocket (Cap Cost)
Monthly payment: $520.00
36 months
12k per year
purchase price was 40,000
Good deal or bad deal? Any thoughts?
Please advise MF and RES for 3 year lease, 15K mi per year for an MDX Touring with Nav in PA. Thanks!
can you give me the monthly lease price on a 2006 MDX Touring with Nav? 12000 miles and 36 months. I'm being quoted a cap cost of 38,195 plus destination fee. Are the Feb figures still .00140 and 58% residual?
I picked up my MDX Touring in Ramsey NJ last week, and, according to them, the residual and the money factor are good till 2/28. My cap cost w/out destination fee ended up being 35,200 and the NAV adds another 2,400 - you can probably do better than 38,195.
Does this sound fishy to anybody? Which fees should I expect to pay at signing?
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As far as what you should pay at lease signing goes, consumers who lease are usually required to pay their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, their bank's acquisition fee, and any required state taxes or fees at signing. Honda Finance will waive its security deposit requirement in exchange for an increase of .00010 in your vehicle's money factor if you would like.
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I am trading in my 03 Grand AM (30k), which I owe $14,221 (!). the dealer is giving me $9,000 toward the car. I will pay the difference owed as money down. I am in PA, so tax is 6%.
MDX w/ touring pkg.
MSRP: $40,565
Sell price: $37,300
residual: 60%
money factor: .0016
Money down: $6,000 ($5221 for pontiac and the rest towards MDX)
12K for 36 months
Monthly ptmt: $529. 10
Now, the salesman called last night & said they adjusted my pontiac some and they can now do $521/month (tax incl) with $5,000 down. I am not sure if they altered the residual and $ factor for this price.
Look forward to your opinion.
KL
I've been quoted a cap cost of $38,200 - including destination.
Lease payment of $495/month for 36 months/12k miles.
Just taxes, fees, and first month due at signing for a total of $1604.
What do you think Car Man?
Ideally, I am looking to get a lease with no money down(as I have read here and other places that putting $$ down for a down payment is not necessary) and I have about $1000 to work with for cost and the signing of the lease.
Listings say that my Jeep's trade in value is$10,035 and the Resale value is about $13,100. I would rate the car in good condition.
Three questions:
1) Can I reasonably expect a dealer to give me what I owe for my car(or more if I can get it from them)?
2) Is is realistic for me to go in there with only $1000 to use for any cost when/if I go to sign my lease(none of that $1000 will go towards any downpayment)?
3) Current deals are$399/month 36 months/12,000 miles a year. I need 15,000 a year. I am thinking of negotiating an addition 3,000 a year at .05 cents a mile into the lease. Does this sound possible and is it a good idea?
2) You can probably get out the door for only $1000 in cash... but, if you have to roll over negative equity from your Jeep, then that will raise your payment..
3) The residual percentage to go from 12K/yr to 15K/yr is 2% lower.. This will add $600-$700 to the total cost of your lease ($17-$20 per month).. and isn't really negotiable... But, that comes out to about $0.08-$0.09 per mile, so you aren't far off..
regards,
kyfdx
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I concur with hjmdx. My Ramsey Acura price was also 5K below MSRP. Montclair was actually couple of hundred more.
- 2006 MDX Touring with Navi
- Ipod Link + installation
- Wood Trim + installation
- All Weather Mats
- Wheel Locks
- Rear Cargo Tray
all for $512/month + $1500 due at signing (includes 1st month, bank fee, DMV etc)
sounds like a great deal. based on the price you've mentioned before the monthly payment is right on the money; looks like they've charged you for accessories upfront. I've leased a Touring for 36/10,000; my only add-on were chrome steps. I left $850 at Ramsey and my payment is $450/mo
a) will they get even better the closer we get to the 07 turnout because they will want to get rid of the 06's?
b) or will they pretty much stay the same?
c) what will the 07 lease deals look like in comparison?
The AHFC rep mentioned that there are often some great incentives when a vehicle first comes out, but I just don't know if what they will offer on the new 07 can even compare to what we can get now.
I am currently on a 2-yr Ody lease set to expire in April, but AHFC will let me extend on a month-to-month basis if I want (which I could use to take me to the fall or whenever the 07 comes out).
Car man or anyone else -- any thoughts?
I would like to lease an Acura MDX.. I was thinking of the base model (bt should I go for the touring?) because of the price difference.
I have one sale price quote from a dealer in the Bay Area of $32,700. Is this a good price? I want to lease the vehicle for about 2 or 3 years, need 15k miles per year and would like my payments to be no more than $400. I don't want to have to put too much cash down either - maybe $1000 to drive it off.. or a little more if needs be.
Please can you advise?
Thanks
What other information should I be armed with when I see a dealer? I'll have $2500-3,000 to put down on the vehicle.
I want to keep the payment under $500 a month. Is this possible? Thank you.
I'm sure that the host could sum it up better than I could, but basically the most important factors in how much the lease costs you are:
1) The "Selling" Price -- yes, this is negotiable!
2) The residual value -- as mentioned by another poster, this is set by the bank. But it helps to shop for vehicles that typically have higher residual values because that means the vehicle will be worth more when you turn it in -- thus, you will pay less since you are basically paying the depreciation on the vehicle.
3) The money factor -- this is also set by the bank, but again, you want to shop for vehicles which currently have a low money factor.
Obviously if you have already decided on a vehicle, then you don't really need to worry about #2 and #3. The main thing you'll be doing is negotiating that final selling price as low as possible, just like you were buying it.
You can take the numbers they give you for residual value percentage and money factor and plug them into the calculations explained on leaseguide.com, then you will know if your payment is accurate. If you don't have time to do that, I think some of the hosts here can do it for you.
Good luck to you! HTH