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2013 and earlier-Acura MDX Lease Questions
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When negotiating your lease on this truck, make sure to take the $2,000 dealer cash that is currently available on it into account. If you are in an area that has a decent level of competition, you shouldn't have any trouble negotiating a selling price that's pretty close to dealer invoice minus this dealer cash.
Car_man
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Honda Finance's current buy rate lease money factor and residual value for a 39 month lease of a 2009 Acura MDX with the Tech Package and 12,000 miles per year are .00250 and 49%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. The money factor for a base model would be the same, but its residual value would be 51%.
The money factors for 36 month leases of these vehicles are the same, but their residual values are 1% higher than the 39 month resids.
Car_man
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Car_man
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Car_man
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Sale Vehicle: New 2009 ACURA MDX YD2869 4dr Wgn Tech w/AC , Automatic ,, remote start Odom: 0
Payment Details
Term: 39
Base Payment: 529.00
Total Payment: 529.00
Purchase Option: 22,800.00
MSRP: 45,600.00
Est. Miles Per Year: 10,000
Excess Mileage Charge: 0.20
Money Due at Inception
1st Month Payment: 529.00
Security Deposit: 0.00
Acq Fee (Upfront): 595.00
Fees & Ins: (Upfront) 102.50
Upfront Taxes: 2,089.06
Cap Reduction (Cash): 2,995.00
Total Out of Pocket 6,310.56
Customer ASAP: -1000.00
Total Initial Charges: 5,310.56
This is under the Acura Select Advantage Program. Is it really an advantage or not? My other option is a Buick Enclave AWD CXL,. total price of $45,735 with 0% financing for 60 months. I know it's a little like comparing apple with oranges, but I'm trying to weigh the benefits of the extra cargo room the Buick gives me (for my dogs!;) vs. the higher and longer loan vs. lease payments.
Thanks
also do the math, 550*39= 21450, you can buy the car for 38K if you get a good rate....
One thing that I noticed about this deal is the $2,995 capitalized cost reduction that you are being asked to pay. I always advise consumers not to make any cap cost reduction when leasing. Those who make one risk losing it if their vehicle is totaled in an accident or stolen and never recovered. It would be safer to go with a zero down lease, even though it means that your vehicle's monthly payment will be slightly higher.
Car_man
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Now let's take a look at the other important aspect of your deal, the selling price. A 2009 Acura MDX Sport with both the Tech and Entertainment Packages probably has a spread of around $4,400 between its full MSRP and its dealer invoice price. Plus, Acura is currently providing $2,000 dealer cash on it. That gives you a total of around $6,400 to play with in your negotiations. It's tough to say for certain, but the price that you were quoted appears to be around invoice minus the dealer cash. If so, this is an excellent deal.
Car_man
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Car_man
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Car_man
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Car_man
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Thanks
MSRP: 41550
residual%: 52
money factor .00215
36 months (10K miles/yr)
Out of pocket 1799
$560/month
I'm a complete moron when it comes to deciphering the intricacies of auto leases. Could someone please tell me what sort of lease figures I should "demand" on a new MDX with an MSRP of $42,783?
The base MDXs are selling for $35.5K (plus or minus depending on your area, dealer inventory etc). MSRP is $41.8K. Add the extra cost for the options you want to add (roof rails etc) and use a lease calculator to calculate your monthly payment based on these numbers. On the numbers above your payment would be about $540/mo before tax with $0 cap reduction.
My wife and I are looking into leasing a 2009 MDX Tech. We have test driven one and we really like it.
We started initial discussions with the salesman about leasing and he told us correct money factor at .00215 but he stated the residual at 46% for a 36mo/15K miles/year. I am trying to confirm the correct residual value.
He told us for 12K miles the residual was 48%.
Can anyone help confirm the correct residual for a 09 MDX Tech, 36mo/15K miles/year?
Thanks in advance!!
Can you help me clarify your post? Is it possible to use the $2,000 cash to dealer as part of a lease? Or is it only valid on purchases?
Thank you!
It's a bit more difficult for me to calculate everything due to a trade-in involved. Also not sure if they applied the tax credit I'm entitled to towards the lease correctly. Here are the numbers:
36 month lease
10k miles/year
3k down (used equity from trade-in valued at 22k)
539 monthly payment
What is a fair monthly payment based on the above numbers?
Thanks in advance!
36Months
12K
$4000 down (Include, Taxes, Tags, Doc, DMV)
$ 480/Month
Very limited choice of color due to low inventory in NY Metro area.
Is this good quote?
Car_man
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Car_man
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$ 440/M - 35 months
$ 5300 Down inclusive of everything.
This on selling price of $ 36,900
Is this something I can jump?
Carman, I'd like your view on this one?
I got a $551 (7% tax included) quote in NJ for a base MDX lease for 36 month, 10K miles and $0 down. I'd need to pay around $1800 in inception fees including 1st month payment, bank fee, luxury tax, registration and so on. Is this a good deal? What's the current money factor on this car?
Thanks
I will give you all the details of my lease contract because I feel that the dealer is trying to pull a fast one by juggling the numbers to their advantage. I must have gone over the contract at least 10 times and the numbers just don't add up.
Just a reminder, I was using equity from a trade-in in the amount of 3014 as a down payment and my only out of pocket cash was 539 for the first month payment.
MSRP: 41750.00
ITEMIZATION OF AMOUNT DUE AT LEASE SIGNING
A) Amount Due at Lease Signing:
Cap. Cost Reduction (Amount Paid in Cash).....................539.00
Sales Tax on Amount Paid in Cash......................................N/A
Cap. Cost Reduction (Credit for Net Trade-in Allowance)...1032.52
Sales Tax on Credit for Net Trade-in Allowance.....................N/A
Advance Monthly Payment (1st Month)..............................539.00
Initial Registration Fees...................................................298.50
Documentary Fee ...........................................................389.00
Acquisition Fee ..............................................................595.00
Tire/Supp. Title Fee.........................................................159.98
Total............................................................................3553.00
How the Amount Due at Lease Signing will be Paid:
Credit for Net Trade-in Allowance.....................................3014.00
Amount to be Paid in Cash...............................................539.00
Total.............................................................................3553.00
MONTHLY PAYMENT IS DETERMINED AS SHOWN BELOW:
Gross Cap Cost:............................................................ 38172.19
Cap Cost Reduction.......................................................- 1571.52
Adjusted Cap. Cost.......................................................= 36600.67
Residual Value..............................................................- 21710.00
Depreciation.................................................................= 14890.67
Rent Charge.................................................................+ 4513.32
Total of Base Payments................................................= 19403.99
Lease Payments..........................................................÷ 36
Base Monthly Payment.................................................= 539.00
Sales Tax.....................................................................+ N/A
Total Monthly Payment...............................................= 539.00
Here's what I can't seem to figure out...Correct me if I'm wrong but it seems like they slipped in the monthly payment twice. First they included it with other fees in the trade-in allowance credit (1032.52+539+298.50+389+595+159.98=3014) and then I paid it again out of my pocket at the cashier. In my opinion, the dealer is pocketing an extra monthly payment at my expense.
Is the dealer's finance guy correct in his calculations or am I losing it?
Note: There was no sales tax applied due to the trade-in value exceeding the total of all lease payments. The money factor used in the above is 0.00215.
I appreciate your input Car_man!
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Do you have the money factor and residual for MDX Tech+Ent for 10K mi/yr lease in March?
Thanks.
I am coming to the end of my 36 month lease on 2006 MDX Touring (silver metallic) in mid-June. My deal was $480/month for 36 months with drive-away cost of only $480 and $0 down. On the contract, my residual value is: $23,122. I only have 22,000 miles on it and the car is in the great shape with exception of a cracked windshield. Here are few questions:
1. I don't think I want to just turn it in...They will kill me on the cost of replacing a windshield (and even if I did it through my insurance company, I have $500 deductible). The tires are in good condition, but one of the rear ones had a nail in it, and was patched up (visibly) by Costco. Will they count this against me and tell me that I have to now replace all 4 tires?
2. So, because of the above and because I actually love the car , I am actually considering buying my car for cash (no financing) because of low miles and condition. Is my residual value decent?
3. Why is my "payoff" quote On acura.com payment site different from "residual value" on the lease contract? If I click on the payoff calendar on the last day of my lease, the price is $24,081, which is almost $1000 more than what's written in my lease?
4. If I decide to buyout my car TODAY, the price is $23,926, but then I won't pay the monthly $480 for the months of April, May and June (savings of $1,440). If I wait till the end of my lease, it will be $23,122 + $1,440 (3 mo lease) = $24,562 - still different figure from the the buyout price of $24,081 listed on their website. Why is that?
What do you guys think I should do? I know AHFC does not negotiate on the residual value, right? It just seems to me that the "cash price is right", but I could be wrong... :confuse:
Thanks!
Any word on April MF & residuals for a base MDX with 10k miles?
499 per month / 36 months
They want $2800 down plus TTL on top.
They are also picking up my last 3 payments of $430
If i can get them down to just putting up TTL and 1st month payment should i jump at this? Im pretty sure i have seen commericals in the past for MDX with 399 per month. My existing lease is up in august so i have some time to wait but would rather get something done sooner than later
Thanks for the respones