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Prices Paid: Buying & Leasing Experiences Acura MDX Prices Paid and Buying Experience
7280 messages, Last post on Oct 10, 2008 at 8:26 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I just can't say enough about my 2001 MDX! Since purchasing it in Nov 2001, I have not had 1 problem! Let me repeat, not a single problem. 2 weeks ago I went to my local Acura dealer to purchase an extended warranty (49K current mileage), he said it would cost $1,695.00 for a 7 year 100k warranty, but then said he could put me in a 2003 MDX for ZERO money out and reduce my monthly payment! I thought this was just "Salesman" talk and said if he wanted to work up a firm deal, to call me back at the office. Well, he did, and I am picking up my 2003 MDX next week. NO money out! Now the details: 2001 MDX Touring - $38,500 purchase price 5 year loan ($598/month  7.3%) 2003 MDX Touring & Nav - $41,000 purchase price 5 year loan ($578/month 4.0%) I tell this story because there seems to be a topic that is never discussed in these forums, "RESALE VALUE"! I had no intention of considering a NEW MDX when I went to extend my warranty. But I am now getting a NEW Warranty, NEW Tires, etc and I don't have to spend a cent. Oh, and I guess I am upgrading to a 2003 and adding Nav for $20 less a month. This is a Great Country and the MDX is a GREAT vehicle! |
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Your post is one of the reasons why I decided to buy an MDX instead of the Lexus... Unlike the Lexus where there are thousands of them and when trying to sell it, people can't GIVE them away! The MDX holds it's SUPER market value! Enjoy your 2003 and enjoy your navigation system! Even though I'm great with directions... I love it! Lidia |
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Islandguy. Did you trade in your 2001 MDX? If you did what was the amount they gave you. If you didn't, how much is it worth and how much do you owe the bank. I'm trying to figure out if a 5yr loan is equivalent to a 3yr lease. |
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Thank you Lidia for turning us on to Lindsay. We flew down Thursday and picked up our Sage Brush MDX. Everything went perfect and within an hour we where heading towards Indy to see friends before coming back to Chicago. I cant say enough about how much you saved us, not to mention my wife really likes the SBP better than the Silver we had on order here in Chicago. |
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alanek, I am trading up! For me, leasing is out of the question because I average about 23k miles/year. My wife leases a BMW Z3 with a 12k mile/year allowance, perfect for her! Regarding the deal I received: In all my years of purchasing new vehicles, I have never encountered a situation where I did not have to put money into the deal, either with CASH or by extending a loan amount/term/higher monthly payment. None of these occurred with this deal. In MOST financed new vehicle purchases, depreciation far exceeds the amount that the loan has been reduced. Especially in the early years of the loan. Unfortunately, after 2/3 years, many people find themselves owing more than their vehicle is worth. With 49k miles on my 2.5 year old MDX the facts are the following: Loan balance reduction ---- $14,000 Vehicle Depreciation -------- $11,500 Original Cost ------ $38,500 Trade-in Value ---- $27,000 It certainly appears that Acura's effort to manage the supply/demand of the MDX is working (Whether intentional or not). New MSRP's are fairly stable and RESALE/TRADE-IN Values remain High! |
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I am leaning heavily towards purchasing an X5 but want to take a look at the MDX before I commit. Can anyone make any rec's on salesman in the Houston area - I prefer low pressure sales reps as I'm sure everyone else does. lol thanks, fo |
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It's sales talk in the end, my poor guy! ). 7.3% was then going financing rate and if you refinance it through a bank or credit union now or even take out a home equity loan, you will get a much lower rate reducing your monthly payment. 2). 4% is just the going rate today, maybe a little better than bank's rate but certainly worse than a home equity line rate. In the end, you were just sold by the same old "sales talks". Yes you got a new car but your payment will extend for another 1 and 1/2 years (equivalent to $10,080, a %26 reduction from the original value, considered extremely high for a car like MDX) and you may never be off payment treadmill. Well if that is what you want so be it. But it is never a financial windfall to you as you thought otherwise. The simple fact is that you were just sold UNNESSARILY a new car and dealer just made a fat profit on you. Think about it, MDX is such a fantastic car that it will probably run well for ever! By your own words, it had never failed on you in your ownership of the car. So why in the world do you need a new after just 1 and half years? By the way, what is the real difference of a 2001 MDX and 2003 MDX? A 20 horsepower increase? What cars does it beat by 20 more? None. |
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freespec, Dealers ALWAYS make money. What you hope for is a FAIR deal that is a Win-Win for both parties. Just some interesting facts: 2.5 year old 2001 MDX Touring (Original MSRP $38,500) has 49k miles. Extended Warranty would cost $1,700 and I will soon need tires all around. There is something to be said for cost avoidance. New 2003 MDX Touring w Nav (MSRP $40,500) - New Warranty, Tires, Brakes Etc. The Nav should be a Fun Thing. Could this MDX be worth more in 2.5 years than my current MDX? We shall see. Purchasing a NEW vehicle can hardly ever be considered NECESSARY. It's just one of those rare luxuries we allow ourselves. Oh, last time I checked, my home equity rate was tied to PRIME. Just a thought. |
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Any one get a good deal in CT. So far it MSRP only? What kind of deals on accessories are people getting? |
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