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2013 and earlier-Acura MDX Lease Questions

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  • californialadycalifornialady Member Posts: 4
    The msrp is $45,850. I have been checking out prices on the internet and I have been quoted as low as $38,834 now.
  • andy603andy603 Member Posts: 59
    So Carman, can you help me understand your statement:
    "The dealer invoice price of a 2009 Acura MDX with the Tech and Entertainment packages is $43,321. If one subtracts the available $2,000 dealer cash from that it drops to $41,321. The selling price that you were quoted is around $850 over invoice. That's pretty good"

    So paying $44,171 is good? I thought that we should be looking for prices that are about $2000 *below* invoice?

    Also, you said that a 36m lease with 12k should be "2 points higher" than 15k...from Honda Leasing. Does that mean I should be able to get 51% residual vs 49%?

    Thx for any advice you might be able to provide...Seems like a good time to buy!!
  • andy603andy603 Member Posts: 59
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome 10sfan. If I was personally in the market for a new MDX, I would shoot for a selling price of a couple hundred dollars over dealer invoice minus the available cash incentives and see what happens. You can find the exact invoice price of the model that you want over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Andy603, a selling price of $44,171 is not good unless the dealer is subtracting the available $2,000 dealer cash from it. If they aren't then it's bad.

    Honda Finance's 12,000 mile per year residual values are 2% higher than its 15,000 mile per year residuals.

    Car_man
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  • andy603andy603 Member Posts: 59
    thx Car Man. My price quotes from 4 dealers in NH & MA are all nearly the same. About $42k +/- for Tech/Ent. Lease rates are substantially worse than you indicate (all 4 dealers quotes exactly the same: 36m x12k was .00196 with 47% residual. One dealer claimed that Acura and Honda Leasing are the same company and thus no different price. They all claim due to end of model year, residuals will be lower which makes sense.

    Any thoughts?
  • drrishisingh1drrishisingh1 Member Posts: 5
    Hi,
    Can I have the updated figures for a 2009 MDX Base and MDX with Tech using 10,000 miles per year? I saw some older figures and I wanted to confirm.

    Also, given your numbers, is the best strategy just to call around with the figures and see who bites?
    Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, andy603. The money factor and residual value that you mentioned for the '09 MDX with Tech & Entertainment, .00196 / 47%, are definitely right.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi drrishisingh1. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Acura MDX with 10,000 miles per year are .00196 and 51%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. The numbers for an '09 MDX with Tech are .00196 and 48%.

    When negotiating your lease on this truck, make sure to take the $2,000 cash incentive that Acura is currently providing on it into account. If I was in the market for an MDX, I personally would figure out exactly how much I wanted to pay and then physically visit dealers to see if they are willing to take what I want to give them...but that's just what I would do.

    Car_man
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  • driverinctdriverinct Member Posts: 2
    I am in the market this week for a new MDX. My current MDX lease is up in the next 2 weeks. Seems like inventory is low and residuals are also low. I can extend the lease for a little bit but don't want to get caught without a car if the 2010 models don't come in on time. I am hearing anytime between Sept to winter. Does anyone know when or should I play it safe and take a leftover 2009?
  • 10sfan10sfan Member Posts: 136
    2010 MDX are tentatively now scheduled to arrive at the dealers lots in December 2009. The 2009 models will continue to be built to meet the demands. Try the extension if your lease is with AHFC/now Acura Financial and search out the dealers who will work with you on the price, etc.
  • dgrebdgreb Member Posts: 65
    Hi,

    I've been in the US for 4 months and therefore have next to no credit history. I would like to buy a new base MDX. I have cash for a big deposit, maybe up to $10k.

    My main aim is to keep my payments below $500p/m. When applying for a lease, would the larger deposit allow me to take advantage of the best rates? If not, what else can I do to get the lowest money factor?

    Your help is appreciated.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dgreb. I see that you are considering making a large down payment on a leased vehicle. Doing so is not a good idea. I'm not sure that it will have much of an impact upon whether you are approved for a lease or not and if you are approved, you are putting a large chunk of money at risk. Consumers who make large down payments on leased vehicles often lose part or all of that money if their vehicle is totaled in an accident or stolen and never recovered.

    The best bet for someone with a limited credit history would probably be to finance a less expensive vehicle. Your large down payment will have more of an impact upon whether you are approved to finance a less expensive truck.

    Car_man
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  • cndnbkncndnbkn Member Posts: 76
    Car_man,
    Can you give me the residuals and MF for 09 MDX in Base, Tech, and Sport for 12k miles per year. Not sure if there is going to be a change for August numbers but if you have them that would be great. Also is the only current incentive of cash the $2K dealer cash? Holdback is 3% on Acura's correct?

    Thanks for all your help in advance.

    Cndnbkn
  • hmansellhmansell Member Posts: 3
    I'm new to leasing and have a question on discounts. According to Edmunds etc. people are paying about $1000 under invoice price for an Acura MDX w/tech package.

    At the same time, Acura are running a lease special with a cap cost reduction of about $6500, with $2899 up-front (excluding tax, license, title, registration, documentation fees) and $499/month for a base model for an MSRP of $41,800.00, money factor 0.00196, residual value 51%. In other words, the lease company is essentially discounting the purchase cost of the vehicle. The dealer tells me that a similar deal is available for the tech package, with the same money factor and residual value 48%.

    My question is, if I go for this lease special, can I still negotiate the price on top of the cap cost reduction that comes from the lease? I know I can get a better-than-MSRP price for a cash deal, but is the lease deal essentially "pre-discounted"? Are the dealers eating any of the discount that the lease deal offers or are they still making MSRP + $2000 incentive + 2% holdback - invoice price?

    Any help would be appreciated!
  • enthusiastdreenthusiastdre Member Posts: 51
    hmansell,
    is this your first time leasing? you should know that leasing a car is just like purchasing in that you can and should negotiate the purchase price always, instead of quoting from the advertised special itself. you could probably get a lot more than that discounted in today's market.
  • jsherm007jsherm007 Member Posts: 12
    No one has recieved recent quotes on an MDX?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cndnbkn. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Acura MDX with 12,000 miles per year are .00196 and 50%, respectively. The money factor for one that is equipped with the Sport package would be the same, but its residual value would be 45%. The same goes for one with the Tech package, 47%.

    When negotiating your lease, make sure to take advantage of the $2,000 dealer cash that is currently available on this model.

    Car_man
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  • nother1inlinenother1inline Member Posts: 12
    I am getting the MDX with Tech package for $650/month (including taxes) for 10K miles and 3K down. Can I get anything better?
  • maf1maf1 Member Posts: 17
    Car_Man, thank you once again for all your help. What are the money factors for the sport and tech packages for 15 000 miles a year? Utilizing the dealer cash in negations, do we calculate our goal price by subtracting 2,000$ form the invoice price or TMV ?
    Thank you MAF
  • joey_deyjoey_dey Member Posts: 5
    When negotiating only worry about sale price and various dealer fees. Everything else is set by acura and cannot be negotiated. If a dealer makes a mistake on residual value and money factor in the contract, the bank will reject it, so no worries for you.

    TMV is with 2K off. I believe you can do better then TMV (depends on dealer, some negotiate and some dont) I was able to lease MDX base in NJ for 35,800 but could have done better just got tired of negotiating.

    Check price paid forum. Negotiate as if you are going to finance, after you are happy with the price tell them you want to lease, makes it a lot easier you will not have to listen to the BS about payments.

    Remember again the dealer is selling the car, not to you but to the bank, so only talk about your sale price and dont talk about payments because the dealer will make you give him more money upfront to keep payments lower.
  • rufusrykerrufusryker Member Posts: 5
    Tale of two dealers. The 1st one lectured me on how lucky I should feel even obtain such a rare and in-demand vehicle. When I mentioned the 2K dealer incentive, he blurted out "That's OUR money!" I'm sure he would have gone below invoice, and he was playing hardball, but you could tell he was an arrogant pain-in-the-[non-permissible content removed].

    The 2nd dealer immediately quoted me $1000 below invoice for a car with Tech. When I resisted b/c I didn't really need the entertainment package (which was the only option for the color combo I wanted), he came down to $1775 below invoice. Done. The car is in my garage now.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nother1inline. The easiest way for me to evaluate this deal would be to look at this truck's selling price in relation to its full MSRP. You never mentioned what either of these numbers are in your post. If you provide us with them, I'm sure that either myself or another knowledgeable community member will gladly give you their opinion on this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, maf1. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura MDX with the Sport Package and 15,000 miles per year are .00196 and 43%, respectively. The numbers for an otherwise identical lease of an '09 MDX with the Tech Package are .00196 and 45%.

    When negotiating your lease on this truck, make sure to take advantage of the $2,000 cash incentive that is currently available on it. Doing so should enable you to negotiate a selling price that's well below dealer invoice.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Well those two dealer experiences couldn't be more opposite, rufusryker. If you'd like to give everyone a detailed opinion of these specific dealerships, you can do so over in the Dealer Ratings & Reviews section of this site.

    Car_man
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  • nother1inlinenother1inline Member Posts: 12
    MSRP - $45.8K Sale price - $39.8K - Out the door price - 44.2K - tantamounts to 650 per month, 10 k miles, 3K down

    Kindly advise
  • dsam2dsam2 Member Posts: 6
    HI Rufusryker

    IM looking for the same car, Did you lease or buy?

    Would you be able to give me the details of the transaction/ Dealer?

    Thanks
    Daniel
  • 40yearfan40yearfan Member Posts: 102
    Mind if I ask a question? If your capitalized cost was $39.8K, how did you get up to $44.2K for your out the door price? That's $4.4K difference and it seems like a lot of money for license and fees.
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  • nother1inlinenother1inline Member Posts: 12
    Taxes ! Actually, that brings me to an interesting point, if I pay taxes on the whole amount then should there be a tax component on my monthly payments?

    Appreciate a quick response as I am planning to make a decision by the weekend.
  • 40yearfan40yearfan Member Posts: 102
    Usually the taxes are paid on a monthly basis. If you pay all the taxes up front, there should be no taxes added to your monthly payments.
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  • nother1inlinenother1inline Member Posts: 12
    How sure are you of this? Because every dealer I have contacted is giving me a price of payment plus taxes !
  • 40yearfan40yearfan Member Posts: 102
    That's the way it is usually done. They should not add taxes to your up front costs. They should be added on to your payments on a monthly basis.

    I have leased at least 20 vehicles over the past 25 years and have never paid the taxes up front. They are always added to the payment. You need to question your dealer heavily on why he is trying to double dip on the taxes.
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  • nother1inlinenother1inline Member Posts: 12
    So, you are saying that if my price after discounts is x then then that's what should be used to compute the lease payment plus tax per month instead of like my dealer is doing i.e. adding sales tax to the price of x to arrive at y as the final price and then compute lease payments plus tax per month - correct?
  • 40yearfan40yearfan Member Posts: 102
    Yes. Otherwise you are paying the sales tax twice and I'll guarantee you the dealer is only paying it once.
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  • kyfdxkyfdx Moderator Posts: 236,760
    It depends on the state..

    What state?

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  • nother1inlinenother1inline Member Posts: 12
    CA
  • hamajunhamajun Member Posts: 12
    Folks,

    I'm shopping for 09 MDX lease special Acura is currently running. Is there anyone recently got the lease deal for 09 MDX in SF Bay Area?

    TIA,
  • hamajunhamajun Member Posts: 12
    Hope this helps.

    http://www.boe.ca.gov/cgi-bin/rates.cgi
  • kyfdxkyfdx Moderator Posts: 236,760
    Yup.. California just taxes the monthly payment, at the prevailing sales tax rate...

    Any cap cost reductions that are paid upfront are also taxed.

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  • nother1inlinenother1inline Member Posts: 12
    Bottom line, do you think 650 per month (all inclusive) is a good deal for 36 months at 10K miles per year with 3K drive off?
  • hamajunhamajun Member Posts: 12
    This is what I got. I closed the deal with Los Gatos Acura. I liked them. Acura of Pleasanton gave me no quote but tried to negotiate with me over the phone, they even called me at work even after I told to not do so! Avoid them.


    B.E@Los Gatos
    DriveOff $3,081.50 Monthly $543 (494.76+tax)

    V.D@Sunnyvale
    DriveOff $3,081.50 Monthly $549.56 (500.74+tax)

    B.V@Santa Clara
    DriveOff $3,560 Monthly $544 (495.67+tax)
    Inc. 4 years / 40,000 mile pre-paid maintenance

    R.L@Oakland
    DriveOff $3600 Monthly $548 (499.31+tax)

    M.Z@Stockton
    Down Payment $2899 Monthly $548 (499.31+tax)

    ALL@Pleasanton
    Never gave me a quote over the e-mail.
  • n4roninn4ronin Member Posts: 14
    Hey all,

    I was quoted the following on a mdx tech. Invoice - 2k dealer cash back. Processing fee 100 + DMV tags. I think its a good deal. Now my problem is that I am in a lease and if i trade in i am at approx 3500 neg equity. Has anyone ever had acura cover some lease payments? I like the car but cant see myself eating the neg equity. Also do anyone know if acura lets u turn in your lease early to either buy/lease another one?
  • my3rdrxmy3rdrx Member Posts: 167
    It all depends on whether your dealer is willing to purchase the vehicle and roll over the neg. equity into the new one. Acura Finance will never let you turn in early without penalty!
  • nother1inlinenother1inline Member Posts: 12
    This must be for the base package, correct? And I assume these are for 10K miles a year?

    For the tech, I think it is 100 bucks more. Any one with a better deal for the tech?
  • hamajunhamajun Member Posts: 12
    Yes, this deal was based on what Acura is currently advertising on www.Acura.com. 09 MDX Base 10,000miles/year, $499/mo+tax, $2,999 due at signing (excluding other fees for drive off).
  • nother1inlinenother1inline Member Posts: 12
    Just curious - why didn't you go with BV from Santa Clara which offered pre paid miantenance?
  • hamajunhamajun Member Posts: 12
    Because they got bad reputations...
  • elanspelansp Member Posts: 39
    Selling price, $36,500 (~ $188 less than TMV price). For 36 months, 10k/year, They want $1700 at sign (no security, 1st month and other standard doc fees, DMV, etc) and $578 per month. BTW, NJ tax is 7%.

    I think I'm going to pull the trigger. I've got this matched at multiple dealers including one in NYC. Anyone have any positive/negative input @ this price?

    It kills me that residuals have been adjusted downwards so heavily - I'm rolling off a Volvo XC90 3.2 that I paid $40,623 and lease was only $549 per month for 24 months/12,000 per year.

    Thanks,
  • hms1hms1 Member Posts: 18
    I have a leased 07 MDX Tech w/32000 miles. Lease payoff is $30300. Lease is up in June of 10. Money has tightened up for me and I would like to lower my $675 mo. payments. Question is should I buy this car and refinance or sell it and buy say a CRV or used 09 Pilot? Also, with the 07's coming off lease shortly will the prices of 07's drop? Appreciate any input.

    HMS
  • nother1inlinenother1inline Member Posts: 12
    I leased an MDX Tech for 640 a month with 3K down of which 1500 was cap reduction - sound good I think?

    Quick question for the experts - the delaership is offering a protection plan for $750 which would cover damages worth $5000 to cover scratches and dings at the return - worth it?
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