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2013 and earlier-Acura MDX Lease Questions

CarMan@Edmunds[email protected] Posts: 38,514
edited January 2014 in Acura
Hi everyone. Please use this discussion to post any specific questions that you have about leasing an Acura MDX.

Car_man
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Comments

  • mdxfan2mdxfan2 Posts: 3
    Hi, I live in Minneapolis and considering a lease. This is my first time leasing ANY vehicle so I just wanted to get an idea of the price negotiation in the leasing area. Currently Acura is offering a $399/month, 36month, $3k down and $23k purchase at lease end option.
    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!
  • Greetings mdxfan2. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    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.

    Car_man
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  • Looks like you have a new format. Just as good!!!

    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
  • Hi someguy1. Here is the information that you are looking for. If you were to lease a 2005 Acura MDX (non-touring and without the navigation or entertainment systems, through American Honda FInance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00160 and 58%, respectively. Let me know if you have any other questions.

    Car_man
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  • Car_Man, Thanks for the info... 1 more question, does the touring with dvd and nav change the figures? That is how I would like to configure the truck.
    KA
  • Hi. I'm looking for touring w/Navi. got offered $39600 + Tax, etc.
    Leasing offer was as below.

    42months.
    $700
    20,000 mile /year
    Downpayment $1000

    Is this good deal?

    Thanks for your reply. :)
  • You're welcome someguy1. The lease money factor for the loaded MDX that you are interested in would be the same, but its residual value for an otherwise identical lease would drop to 53%.

    Car_man
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  • Hi clickclick. I would be happy to give you my opinion on the lease that you were quoted, however it would be a big help if you were able to provide me with this truck's full MSRP (including destination).

    Car_man
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  • I don't consider myself an expert by any means, but just leased an Base MDX (not Touring) in Boston area with following terms:

    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.....
  • Base MDX MSRP = $37,500

    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!
  • Thanks for taking the time to share the details of your deal with everyone, rfmdx. There's nothing like real world examples to give consumers an idea of how much they should bay to lease the vehicle that they are interested in.

    Car_man
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  • Hi rickydog. You never mentioned the selling price of the truck that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the Acura MDX that you are interested in for you if you let me know what its selling price is.

    Car_man
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  • Selling price was 33,500.
  • The lease would be as follows ...

    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.
  • Thanks for the additional information rickydog. OK, so you are interested in leasing a base 2005 Acura MDX that has an MSRP of $37,500 and a selling price of $33,500. It definitely appears to me as though you are getting a good price on this car. Let's use these numbers along with Acura's current lease program to calculate a lease payment on it. According to my calculations, if you were to lease this truck through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $396. As you can see, the quote of $399 per month including tax is very attractive. If you like the truck, I don't see any reason not to pull the trigger on this deal.

    Car_man
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  • Hi kwyoon. The selling price that you were quoted for this truck looks good to me, but I cannot seem to get its monthly payment to cone out as high as the one that you were quoted. I calculated a lease payment on it using the information that you provided and Acura's base lease program and here is what I came up with. According to my calculations, if you were to lease a 2005 Acura MDX Touring without the entertainment or navigation systems with an MSRP of $40,295 and s selling price of $35,200 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $423. Even if you were to add the navigation and entertainment system options, the payment only increases to around $454. Something is not adding up here. You may want to ask your dealer to go over the calculations with you or shop around a little bit. Make sure a money factor of .00160 is being used to calculate your MDX's payment. Perhaps these dealers are using th $1,500 dealer cash that Acura is providing on this model right now to reduce its selling price and then running your lease through an independent bank. The dealer cash is not compatible with the aforementioned special lease program.

    Car_man
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  • Hi Car_man,

    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!
  • vsaxenavsaxena Posts: 211
    In general the purchase price has absolutely nothing to do with getting the lease special. The lease special determines the residual (% of MSRP) and the money factor. These factors are indtpendent of the purchase price. First negotiate the lowest puchase price, then ask them to give you their buy rate from AHFC, without a markup. That is the starting point of the negotiation.
  • Hi vsaxena,

    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.
  • Hey, Someone may want to fully check on this but I was told that the lease deal was good with the marketing support as long as the lease was not 36 months. The dealer in the miami area said they were doing 39 months so that they could take advantage of both. Hope this helps, Will
  • I purchased the car on June 5' 2005 for $38,000, touring with Navi without DVD. It seems they are selling around $1000 below invoice for sage brush. The invoice price is $39200. The lease deal for Acura is excellent. They used the Honda lease company with residual value of $24,300. Initially want to get Odessey but the one with Nav is hard to get. It ends up almost the same for lease price because of the residual value.
    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
  • Hi Car_man,
    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 live in the bay area in California.
    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.
  • You're welcome kwyoon. AHFC's lease program on the 2005 MDX is more attractive than you are likely to find through an independent bank. The lower the selling price that you are able to negotiate is, the lower your lease payment will be.

    Car_man
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  • Hi fsudreyer. Honda Finance's special lease money factors on the MDX are only good on leases up to 36 months in length and are not compatible with the $1,500 dealer cash. If you opt to lease through Honda Finance for longer than 36 months, you can take advantage of the dealer cash but your truck's money factor jumps from .00160 to .00250. It may turn out that one can get a lower monthly payment by leasing for a longer term, especially a 48 month term, and taking advantage of the dealer cash instead of leasing with the special money factor for 36 months.

    Car_man
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  • Thanks for taking the time to share the details of your lease with everyone, sonysw.

    Car_man
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  • You're welcome mdxlease. The prices that I mentioned in the post that you are referring to were quoted to another community member. I would not be surprised if you were able to negotiate the same deal with your local Acura dealer.

    Car_man
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  • Hey mdxlease. I would be more than happy to give you my opinion on the deal that you were quoted, however it would be a big help if you would provide me with this truck's full MSRP (including the destination charge). This number will show me how much of a discount you are being given and will enable me to calculate a sample lease payment on this truck using Honda Finance's actual lease program so that we can compare what I come up with to the payment that you were quoted.

    Car_man
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  • I plan to lease a new MDX prior to the end of the year. Does anyone have information related to lease rates on the 2005 model vs. 2006 model?

    Also, will there be any additional exterior colors offered for 2006?
  • Hi,
    Anyone have the october rates on MDX's right now w/ navi?
    Thanks
    ka
  • Hi nolefish. I can give you an idea of what the current lease programs are like for the 2005 Acura MDX, but I have not seen the lease program for the 2006 model yet. I expect Honda Finance to publish residual values for the '06 MDX soon. Acura will probably not initially provide any sort of lease support on the '06 MDX though. Let me know how long you want to lease for and how many miles per year you need to be able to drive and I will tell you what the lease money factor and residual value for this truck currently are. If you provide me with its full MSRP (with the destination charge added in) and an approximate selling price, I can estimate what your lease payment should be as well.

    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".

    Car_man
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  • Hey someguy1. I have had an opportunity to take a look at the new October lease program for the 2005 Acura MDX and would be more than happy to give you an idea of what it is like. However, in order for me to do so I need you to tell me how long you want to lease for and how many miles per year you need to be able to drive it.

    Car_man
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  • Car_man - thanks for the response. I have not negotiated on a particular vehicle yet. I'm just trying to get an idea of how much more, if any, an '06 is going to cost vs an '05 on a lease basis. It seems like anytime there is a new model year coming out the old model year ('05) can be a better deal if they significantly discount the price OR the new model year ('06) could be a better lease deal if the residuals and money factors are stronger (than on the '05). I'm just trying to determine where the MDX is on that balance.

    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?
  • Sorry Car_Man...

    I would be looking at 36 months and 15K miles

    thanks
    ka
  • Car_Man, seems like you know a lot about the leases so I need to ask for a deal on the fully loaded touring,navi,res 05 with 15k miles for 36 months. What would be the payment if the car was sold at or around invoice with little or no money out of pocket. Approx is fine, not looking for exact. I think I saw one of your post that suggested approx 450 month 36 months but how much out of pocket? Thanks, fusdreyer.
  • You're welcome nolefish. The fact that you will be able to negotiate a lower selling price on a 2005 MDX right now and that Acura is providing lease money factor support on the 2005 model, but not the 2006 model, will almost certainly more than offset the fact that the 2006 model will have slightly higher residual values when it hits lots. I suspect that you will be able to get a much lower lease payment on an '05 MDX than you will be able to get on an '06 MDX at this time.

    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.

    Car_man
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  • Don't worry about it someguy1, it happens all the time. OK, if you were to lease a 2005 Acura MDX (non-Touring and without navigation or rear entertainment) through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00160 and 58%, respectively.

    Car_man
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  • Thanks fusdreyer. A fully loaded 2005 Acura MDX Touring with both the entertainment and navigation systems has an MSRP of $44,545 including destination. If you were able to lease one at dealer invoice, which would be impressive, that would give you a capitalized cost of $40,180. Using these numbers and Honda Finance's current lease program for this truck, I estimate that its 36 month, 15,000 miles per year, zero down, pre-tax monthly payment should be around $563. With this deal, at lease signing you would have to pay your first month's payment, a security deposit of around $600, Honda Finance's acquisition fee of $595, and any required state taxes or fees.

    Car_man
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  • msa6msa6 Posts: 2
    What are people seeing on leases for '05 touring MDXs? I was offered roughly $470/month with 15,000 miles. $1599 down, against a selling price of $38,000 (way too high, in my opinion), $595 lease acquisition fee and $500 deposit, along with tax/tags. 36 months, 56% residual on the 15,000 miles.I'm thinking I should do better, no?
  • In Boston area today I was quoted $600 per month (including taxes) with $875 down for 45,000 miles, 36 months for a 05 Touring with Nav. Does that sound look a good deal?
  • Hi msa6. A 2005 Acura MDX Touring without the entertainment or navigation systems has a dealer invoice price of $36,400. The price that you were quoted, $38,000, is $1,600 over invoice which is not bad considering that it is a discount of over $2,300 from this truck's full MSRP. Having said this, if you are in an area where there is a decent level of competition for your business I would not be surprised if you were able to beat this deal. You may want to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Acura MDX: Prices Paid & Buying Experience".

    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.

    Car_man
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  • Hello stillsearching. You never mentioned the selling price or MSRP of the truck that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this vehicle's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • Car_Man,

    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.
  • I got an offer in Saint Louis to lease the Acura 2005 MDX touring with Nav and Entertainment system for $627/month (including taxes), no money down on a 42 month lease at 15,000 miles/year. Selling price woule be $38,987.

    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
  • dhamiltondhamilton Posts: 878
    Recently I helped my sister in law lease an mdx. Agreed to terms on one not in stock but assured it would be in in about a week. Now they say it won't be in till the 22 of november. She has allready signed paperwork on this lease. Would it be possable to refuse delivery on vehicle unless dealer makes up one month payment for delivery being so late? What are some other options? She still wants the car. Just trying to figure out how to not pay on a car she can't drive? Thanks all for input and advice....Dan
  • kyfdxkyfdx Posts: 152,836
    The lease won't start until they deliver the car... Just because she signed doesn't mean the lease starts now...

    If that turns out not to be the case... then you have problems... but, I doubt it..

    regards,
    kyfdx
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  • Hi everyone. I just wanted to let you all know that unfortunately, Acura is not providing any sort of special lease program on the 2005 MDX any longer. you can still lease one, but if you do so through Honda Finance you will have to use its standard lease program. The good news is that since this truck does not have any special lease program available on it, the $1,500 dealer cash that Acura is providing on it can now be used to reduce the capitalized costs of leased vehicles.

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  • tw2tw2 Posts: 3
    Hello Car Man,

    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.
  • Hello Car_man=

    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!
  • Hello tw2. If you were to lease a base 2006 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 63%, respectively. The numbers for an otherwise identical lease of a 2006 MDX Touring model without the navigation or entertainment systems should be .00260 and 62%.

    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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