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2013 and earlier-Acura MDX Lease Questions
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Our budget is really $30,000 so we're hoping they will go with that, if everything cks. out. Thanks for any advice!
The MSRP is 46,365. What do you about the lease acquisition fee? Is that standard? Let me know. Thanks for all your help.
how do the numbers break down on the currently advertised deal for the base model 07 MDX? The ad is $499/mo, 36mo/12k, around $3398 total due at lease signing. I put this into a lease calculator and either the residual is crazy-high or the money factor is unbelievably low...
Also, can you get a similar deal on the tech/ent pkg or would the numbers be more normal for that model?
Thanks!
$40,665 MSRP
$38,360 cap cost
$27,246 residual (67%)
$499 monthlies/36 months (10k mi, not 12k)
= .00292 money factor
p.s. car_man, I would also like to know the money factor & residual on a 2007 MDX w/Tech & Ent
It appears as though demand is VERY high on this vehicle.
I've been negotiating on a black Acura MDX Touring with extra options of cargo cover and chrome steps (no nav or DVD). Invoice was originally $35Ksomething, that one sold, this one has added chrome steps and cargo cover, so I'm estimating it at $36K-37K? The cap cost seems really good, better than Edmunds TMV and has those extra options, but money factor is high (compared to Toyota, who is offering .0018 on 2007 4Runner).
Option 1 via Honda Financing:
Cap Cost $32,582
Residual $18,795
Money factor .0031 (I see you stated Honda's is .0028 in Oct, has it changed for Nov.?)
36 months/12K mileage
$599/mo
$1493 down (1st mo, $250 documents fee, 15.50 $595 bank fee - is that legit on Honda Finance?)
Has a $1500 damage waiver upon return and no disposition fee upon return
Option 2 v ia US Bank:
Another dealer quoted me a money factor of .00224, so I negotiated that w/this dealer, however, it would be US Bank, not Honda Finance. Dealer claims that the banks are much more stringent about damage upon return?
Same cap cost, residual, money down, monthly term and mileage as Option 1
Difference is a .00224 money factor and $570.80 per month
However, there is no damage waiver, $395 disposition fee (vs. 0 above) and $350 fee if I want to buy it at lease end.
Questions:
1. Am I on the right track for a good deal?
2. Have you heard that the lease return via a bank lease vs. car manufacturer lease are tougher, specifically Acura?
3. Would you recommend one of the options over the other?
4. Do they still have that $3K dealer cash back offer and should I have them deduct that from the $32,582 cost ($29,582 seems unrealistic?
It seems like there aren't many 2006s left and no deals to be had on 07 due to lack of inventory?
Thanks much - this forum is terrific and has been helpful.
K
I'm planning to lease 07 MDX. I've read all the posts so far. Do you know the exact money factor for leasing for 36 mos with best credit rating?
Thanks a bunch.
Car_man
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I've got these figures from the dealer. Let me know what you guys think.
2007 MDX Tech Package
MSRP 44165 (Destination charge Included)
Dealer Discount -1000 from MSRP.
44165-1000= 43165
Money Factor: .0029
Residual: 0.64
12K Per year
Acquisition Fee: 595$
Goverment Fee: 77$
Taxes: 1376.10
Document Fee: 245$
Security Deposit: 0$
Residual: 28265.60$
Monthly Payments: 586.65$
Down Payment: $4000.00 (includes fees and first months payment)
This deal looks good to me what do you think? Any hidden costs?
:confuse:
Honda Finance charges a $595 acquisition fee on every vehicle that it leases. All consumers who lease through it have to pay this charge and individual dealers do not have the ability to waive it.
Car_man
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Car_man
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Car_man
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As you probably already know, the 2007 MDX is a completely redesigned truck that was just introduced. As a result, consumers do not seem to be getting very large discounts on it yet. I have been seeing prices of around $1,000 to $1,500 off of MSRP mentioned. Make sure to stop by the following discussion to see what the latest selling prices that have been reported are: "Acura MDX: Prices Paid & Buying Experience".
Car_man
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Acura is still providing $3,000 dealer cash on the 2006 MDX to help dealers unload their leftover models. It is not providing any support on the redesigned 2007 model though. I would be happy to give you my opinion on the price that you were quoted for this truck if you let me know what its full MSRP is.
Car_man
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Car_man
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Car_man
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The one thing that I'm not crazy about on this deal is the large down payment that you're making. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. All you have to pay at lease signing are your vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, Honda Finance's $595 acquisition fee, and any required state taxes or fees at signing.
Car_man
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what i got is $2500 down, 36 month lease, 12k/year, payment of $650(including tax)
we were going to take this deal but we had to take $1000 hit on our trade in. what do you guys think about this figure.
What is the tax rate in your state? :confuse:
i am not so sure but i think this is it.
A quick question: I see that Honda's best lease money factor available for almost all models is around 0.0029 which is pretty high compared with competitors like BMW and Audi. Has it been like this all the time or is there hope that the rates would go down in the future? I'm still waiting to lease an X3 or 07 MDX but with available deals at BMW Finance, it's not rational to lease an MDX.
I've never leased before, but am interested in leasing a 2007 MDX with the Sport Package. MSRP is $46,265, which includes $670 in destination charges. A Bay Area (CA) Acura dealer has quoted a $44,265 sale price (not including tax or license). They have offered a 36 month lease, 10k miles/year, with payments of $611.95 (including taxes) and a $29,610 residual. Thanks for help in assessing this!
David.
Thanks!
MSRP is 40K, Destination is $595
I was quoted $568 a month with $1525 due at inception for fees (first payment, $595 bank fee, $185 documentation fee and motor vehicle fees of $270).
NJ sales tax is 7%.
I've been following the Pilot Leases and they have some good specials right now (probably because the Pilot is at the end of its design cycle).
I am looking to lease an '07 MDX w/TECH+ENT but will probably wait a few months.
Any comments?
Car_man
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Car_man
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Let's take a look at the specific deal that you were quoted. The dealer invoice price of a 2007 Acura MDX with the Technology and Sport packages is $41,773. The selling price that you were quoted is around $2,500 over invoice. I am not intimately familiar with what the market is like for this truck in your neck of the woods right now, but this is a lot of room to play with. It wouldn't hurt to shop around with a few other dealers to see if you can beat this price. The worst thing that could happen is that you would confirm that this is the market price for this truck right now. Also make sure 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". When you arrive at a selling price that you're comfortable with, make sure that the dealer you are working with calculates your truck's monthly payment using its buy rate lease money factor. Honda Finance's current buy rate for a 36 month lease of this truck is currently .00275 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit equal to their vehicle's monthly payment rounded up to the nearest $25 increment at lease signing.
Car_man
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Car_man
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Car_man
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Car_man
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Only one thing I want to know? Is this a fair lease pmt? I have read other posts regarding money down on leases, but we always put $5k down. It's a monthly budget thing. Don't like writing gigantic lease pmts.....psychological I guess. Any help would be appreciated. Thanks.
Either way, they are getting your money.
I leased a 2005 V-8 BMW 545 last year with a MSRP of $60,000 for no money down, 36,000 miles, 36 months for $673 per month.
I'm no expert on the MDX, but to me your deal seems a bit high for a 6-cylinder vehicle with little low-end power.
I just recently discovered the invoice price is right around $37,000. Maybe there is still an opportunity for the dealer to discount even further.
Am I at least headed in a good direction with the lease deal I posted?
Thanks!
Also is the incentive still $2500 for the dealer?
Thanks in Advance.