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Prices Paid: Buying & Leasing Experiences Acura MDX Lease Questions
1602 messages, Last post on Nov 09, 2009 at 3:03 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: uvasa (Mar 22, 2009 7:43 am)
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Replying to: lookin4mdx (Mar 11, 2009 6:28 am)  ! Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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| Purchased an 09 base MDX. I negotiated the hell out of the car and got independent financing of 4.5% for 72 months. with $3500 down (covers all taxes and registration) my payment is $550/month. I can still sell the car in 3 years (or anytime I feel like it) without the hassle of a lease while paying a lease-equivalent monthly payments (based on what people are paying here). It seems that lease terms on the MDX are not very favorable today. Am I missing something? I remember the day when I picked my Pilot EX and my lease terms were $299.month with $2500 down for 36 months vs monthly payments of $450/month for 60 months if purchased with the same down payment. | |
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Replying to: max_speed (Mar 15, 2009 9:47 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: lookin4mdx (Mar 23, 2009 10:42 am) $ 440/M - 35 months $ 5300 Down inclusive of everything. This on selling price of $ 36,900 Is this something I can jump? Carman, I'd like your view on this one?
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Hi Car_man, I got a $551 (7% tax included) quote in NJ for a base MDX lease for 36 month, 10K miles and $0 down. I'd need to pay around $1800 in inception fees including 1st month payment, bank fee, luxury tax, registration and so on. Is this a good deal? What's the current money factor on this car? Thanks
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Replying to: Car_man (Mar 25, 2009 1:42 am) I will give you all the details of my lease contract because I feel that the dealer is trying to pull a fast one by juggling the numbers to their advantage. I must have gone over the contract at least 10 times and the numbers just don't add up. Just a reminder, I was using equity from a trade-in in the amount of 3014 as a down payment and my only out of pocket cash was 539 for the first month payment. MSRP: 41750.00 ITEMIZATION OF AMOUNT DUE AT LEASE SIGNING A) Amount Due at Lease Signing: Cap. Cost Reduction (Amount Paid in Cash).....................539.00 Sales Tax on Amount Paid in Cash......................................N/A Cap. Cost Reduction (Credit for Net Trade-in Allowance)...1032.52 Sales Tax on Credit for Net Trade-in Allowance.....................N/A Advance Monthly Payment (1st Month)..............................539.00 Initial Registration Fees...................................................298.50 Documentary Fee ...........................................................389.00 Acquisition Fee ..............................................................595.00 Tire/Supp. Title Fee.........................................................159.98 Total............................................................................3553.00 B) How the Amount Due at Lease Signing will be Paid: Credit for Net Trade-in Allowance.....................................3014.00 Amount to be Paid in Cash...............................................539.00 Total.............................................................................3553.00 MONTHLY PAYMENT IS DETERMINED AS SHOWN BELOW: Gross Cap Cost:............................................................ 38172.19 Cap Cost Reduction.......................................................- 1571.52 Adjusted Cap. Cost.......................................................= 36600.67 Residual Value..............................................................- 21710.00 Depreciation.................................................................= 14890.67 Rent Charge.................................................................+ 4513.32 Total of Base Payments................................................= 19403.99 Lease Payments..........................................................÷ 36 Base Monthly Payment.................................................= 539.00 Sales Tax.....................................................................+ N/A Total Monthly Payment...............................................= 539.00 Here's what I can't seem to figure out...Correct me if I'm wrong but it seems like they slipped in the monthly payment twice. First they included it with other fees in the trade-in allowance credit (1032.52+539+298.50+389+595+159.98=3014) and then I paid it again out of my pocket at the cashier. In my opinion, the dealer is pocketing an extra monthly payment at my expense. Is the dealer's finance guy correct in his calculations or am I losing it? Note: There was no sales tax applied due to the trade-in value exceeding the total of all lease payments. The money factor used in the above is 0.00215. I appreciate your input Car_man!
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Replying to: uvasa (Mar 25, 2009 5:31 pm) |
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Replying to: max_speed (Mar 28, 2009 3:10 pm) |
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Hi Car_man, Do you have the money factor and residual for MDX Tech+Ent for 10K mi/yr lease in March? Thanks.
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