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Prices Paid: Buying & Leasing Experiences Acura MDX Lease Questions
1638 messages, Last post on Dec 04, 2009 at 9:43 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Hello all, Im in the market to lease an 08 MDX w/technology pkge for 42 months, with $2500.00 down and 15k per year (mileage). Been shopping dealers in NY/NJ area and I have been getting some crazy prices. Dealers have been in the area of $688 to $630 per month. The problem from what I am being told is that due to the $4000 incentive the 08's are limited. In addition, I had a dealer give me a price of $590 for a vehicle that they had on the lot but deal fell through. Not sure if im getting the run around. At this rate, I may have to wait for something with the 09, but the $4000 is hard to pass on.
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Replying to: kevin34 (Oct 21, 2008 7:34 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: 03qx (Oct 21, 2008 5:25 pm) The numbers for an otherwise identical lease of an '08 model are .00290 and 44% (ouch). On the bright side, there is $4,000 dealer cash available on the '08 model that can be used to negotiate an attractive capitalized cost for your lease. If you were to lease with only 12,000 miles per year, the above residual values would be 2% higher. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: haggleman (Oct 22, 2008 7:11 am) The numbers for an otherwise identical lease of an '08 model are .00290 / 49% for 36 months and .00290 / 40% for 48 months. Both are compatible with $4,000 dealer cash. If you were to lease with only 10,000 miles per year, add 1% to the above residual values. I personally would rather start my new lease with a clean slate than continue to pay interest on the excess mileage charges from a previous lease, but you can roll the charge into your new lease if you want to. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: pea092 (Oct 22, 2008 10:57 am) hope this helps and good luck!!!! |
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I am in NC, and looking at a 2009 MDX with Tech and 1200 of options.the price is 45600, they want 4000 up frount and a 50% residual and a factor of .00247 and I want 15k mi per year. do this all sound fair?
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Replying to: southerner1 (Oct 25, 2008 8:14 am) It sounds like your total payments over 3 years is going to amount to somewhere around $30k. That sounds like a terrible deal to me. I'm not saying that you can necessarily do better, as the MDX doesn't sound like it's leasing very well right now (terrible residuals and money factors). Anyhow, a good rule of thumb in my opinion is that the total of all payments over 3 years should not total more than around 50% of the MSRP of the vehicle (before tax). With the MDX, this is simply not possible due to the poor residuals and money factor offered by Acura right now. It really depends on how much you want an MDX in the end. I would look at another vehicle if I were you though. There is no way I would personally pay $30k to rent a $46k car for 3 years and then hand it back to Acura. You're better off buying the car if you can swing the extra couple hundred a month. At least you can turn around and sell the car in 3 years and come out much further ahead. Just my $.02 P.S. The Lexus RX is leasing MUCH better than the MDX right now if you check the RX Lease forum |
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Hi Car_Man, I am an avid follower of your posts on here...and finally ready to purchase/lease an Acura MDX. Looking at the future outlook of SUVs and the economy, I am confused between purchasing or leasing a new MDX. I am not sure what the market for SUVs be like in the next 2-3 years. Hence, I am leaning towards leasing one. What do you think? I know you have already posted lease numbers for Tech. Pkg and Sport/Entertainment package. I am interested in Sport only Pkg. Could you please post 2008/2009 MDX Rate/Residuals with the Sport Only Pkg. 36 Months 12K and 15K Miles. Thanks a lot in advance!
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Replying to: neeepeee (Oct 26, 2008 1:33 pm) As long as the economy recovers by then, and I sure hope that it does, the market for SUVs will likely be better two to three years from now than it is today...but I doubt that they will ever regain their former level of popularity. If I was in the market for an MDX right now, I personally would probably lease one as well. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Acura MDX with just the Sports Package and 15,000 miles per year are .00247 and 47%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical lease of an '08 model are .00290 and 45%. Don't forget the four grand dealer cash that is available on the '08. If you were to lease with only 12,000 miles per year, the above residual values would be 2% higher. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Oct 26, 2008 4:20 pm) Does it make sense to wait for November or possibly December to see if the lease numbers get better? Or Should I go for it now? I am prepared to close a deal now or in the next month or so; however, I am in no rush...I definitely want to close a deal before christmas. But, there are mixed feelings out there as to the dealer incentives and also the effect of the economy on car leasing for the next couple of months? Any thoughts?
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