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Acura MDX, Car Leasing, SUV
#101 of 2816 2006 acura MDX Lease Advise
Jan 08, 2006 (9:40 am)
I currently have a 2002 Jeep Grand 4x4 Sport with 53,000 miles. I recently found myself broke down out of town due to a problem with a sensor. (previously no problems with this vechile, semms to work good now) Had it repaired by a dealer, but my warranty is OUT and it was a long experience on Christmas Eve!!).. This has me in the market for a new vechile. I looked and drove a Acura MDX and was offered a lease for $399 a month 12K per year on the Acura I test drove (premium pkg)thru Honda Finance. My question is: I owe right at $6,000 on my Jeep. Trade in value was quoted anywhere from 11,000 - 12,000. How does this work on trading in on a Lease?? Would I just be giving my Jeep away?? I usually don't lease, but have found myself trading on the average every 3 years. This made a lease on such a nice car seem so appealing. This lease seemed much more cost effective than the VOLVO S40 I recently looked at leasing.
#102 of 2816 2006 MDX Lease
Jan 13, 2006 (6:46 am)
I am interested in leasing an Acura MDX. Got Touring quote of:
price of the vehicle- 40.5K
36 Month/36,000 Mile Lease
$522.03 per month including tax with $545.03 due at signing (includes first month's payment, license plate transfer, and title)
$460.18 per month including tax with $2,603.18 due at signing (includes $2,000.00 down, tax on down payment, first month's payment, license plate transfer, and title). I have little to no intention of buying it out after the lease is up. Are these lease figures competitive in MI?
Thanks - Sam
#103 of 2816 2006 mdx lease
Jan 17, 2006 (8:14 am)
assuming all other factors/components being equal, is it normally more economical to get a 1 yr ,2 yr or 3 yr lease? I need to lease mdx now but understand redesigned mdx coming out later this year. When newer style hits market I will already be into some type of mdx lease but I will want to get newer , restyled mdx. So should I consider only 1 yr lease, getting restyled mdx after 1 yr lease expires or should I now go for longer term lease and try to negotiate up front some type of "trade in" for when newer style arrives? Do I have any other alternatives in this situation? I would never want to lease any model more than 3 years. your site is very informative. thanks
#104 of 2816 Re: 2006 acura MDX Lease Advise [karey1211]
Jan 18, 2006 (2:57 am)
Sorry to hear about your car (or truck in this case) troubles, karey1211. You're in good shape though if your Grand Cherokee is worth twice as much as you owe on it. You can still trade in a vehicle when leasing if you want to. It is in your best interest to have the dealer that you are working with cut you a check for your truck rather than use the proceeds as a down payment on your new lease. 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 Grand Cherokee would be exactly the same, regardless of whether you had put $6,000 down, or had made absolutely no down payment at all.
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#105 of 2816 Re: 2006 MDX Lease [sestesod]
Jan 18, 2006 (3:00 am)
Hi Sam. You're off to a good start since you already know the selling price of the truck that you want. Make sure to stop by the "Acura MDX: Prices Paid & Buying Experience" discussion to compare the price that you were quoted to the prices that other community members have paid for similar vehicles lately. I'd be happy to give you my opinion on the lease payment that you were quoted, but in order for me to do so I need to know this truck's full MSRP. It is a necessary part of the monthly payment calculation equation. Let me know and I'll tell you what I think.
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#106 of 2816 Re: 2006 mdx lease [dr3]
Jan 18, 2006 (3:05 am)
Hello dr3. As a general rule, new vehicles experience their highest rate of depreciation over the first year of ownership. Depreciation is one of the two main components of lease payments, the other being interest charges. Again generally speaking, the larger the number of payments that one has to spread the a vehicle's large initial depreciation hit out over, i.e. the longer the lease, the lower their lease payment will be. Of course, there are exceptions to this, such as the special 24 month leases that BMW is running on a number of models right now. With the 2006 Acura MDX, you definitely will be better off going with a 36 month lease than a 24 month lease. You may want to consider holding onto your current vehicle, by either holding off on selling it or if it is a lease by trying to extend your deal, rather than entering into a very expensive short term lease or even worse trying to get out of a longer lease early to get into a redesigned MDX.
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#107 of 2816 About to lease a 2006 MDX
Jan 18, 2006 (5:25 am)
I have been getting quotes on the 06 MDX from internet managers in my area. For the touring package (no Nav or dvd) the best quote so far is $36,117 not including tax and tags. Destination charge is included. This is in PA. I think this is a competitive rate. I have not told them I am leasing. When I was in the showroom of one dealer to test drive they said lease an 06 standard package for 36 months was $399 currently. That was with a higher vehicle price (About 37 ish). What lease payment should I expect with this price of 36,117? Also I want to trade in a vehicle. I was told to hold that thought until I get the lease payment and then tell them. I'd like to ask them for a check for the trade in independent of the lease so they don't blur the value in the lease calculations? Lastly is there any gain by purchasing in Delaware where there is no tax or will I have to pay the tax when I do the docs for PA? Thanks so much. Any advise is appreciated.
#108 of 2816 06 MDX Basic Package
Jan 19, 2006 (6:01 pm)
CarMan, need your assistance. Looking in Miami, Fl at a basic 06 MDX. Terms= 36 mths, 12k/yr, MSRP 37,740, car price 34,041, they want 1,800 down for 1st mnth ptymt & fees and 467+tx monthly lease payment. This seems alittle high to me. Thanks for your help.
#109 of 2816 06 MDX residuals
Jan 20, 2006 (9:26 pm)
Need your help. I'm looking at leasing an 06 MDX with tour/nav/res. MSRP is $44,815 including destination and I've been quoted $582/month, pre-tax, with zero down (other than first month, fees and taxes)on a 36 month/15,000 miles per year lease. I was told the residual is $24,200 or 54% (assuming Honda finance with top credit). Is this residual accurate? Also, your thoughts on the $582/month? Thanks for your help. DOC
#110 of 2816 MDX touring with NAV and DVD Money factor and residual..
Jan 24, 2006 (6:37 pm)
I am trying to lease an 06 MDX Touring with DVD and NAV.
I am being given a money factor of .00140 and a 57% residual? Is this right for NJ and PA area? Or should I be lookinig for a higher residual rate.
Thank You in advance.