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Prices Paid: Buying & Leasing Experiences Acura MDX Lease Questions
1639 messages, Last post on Dec 06, 2009 at 6:26 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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This one is for car_man or anyone else wo can give me a good opinion. I appologize in advance, if this was covered already. I am coming to the end of my 36 month lease on 2006 MDX Touring (silver metallic) in mid-June. My deal was $480/month for 36 months with drive-away cost of only $480 and $0 down. On the contract, my residual value is: $23,122. I only have 22,000 miles on it and the car is in the great shape with exception of a cracked windshield. Here are few questions: 1. I don't think I want to just turn it in...They will kill me on the cost of replacing a windshield (and even if I did it through my insurance company, I have $500 deductible). The tires are in good condition, but one of the rear ones had a nail in it, and was patched up (visibly) by Costco. Will they count this against me and tell me that I have to now replace all 4 tires? 2. So, because of the above and because I actually love the car  , I am actually considering buying my car for cash (no financing) because of low miles and condition. Is my residual value decent? 3. Why is my "payoff" quote On acura.com payment site different from "residual value" on the lease contract? If I click on the payoff calendar on the last day of my lease, the price is $24,081, which is almost $1000 more than what's written in my lease? 4. If I decide to buyout my car TODAY, the price is $23,926, but then I won't pay the monthly $480 for the months of April, May and June (savings of $1,440). If I wait till the end of my lease, it will be $23,122 + $1,440 (3 mo lease) = $24,562 - still different figure from the the buyout price of $24,081 listed on their website. Why is that? What do you guys think I should do? I know AHFC does not negotiate on the residual value, right? It just seems to me that the "cash price is right", but I could be wrong...  Thanks!
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Car Man, Any word on April MF & residuals for a base MDX with 10k miles?
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My MDX lease is expiring and I am looking to lease another MDX. I want the MDX with tech. The "best" lease quote I have for 36 months and 10K per year is $675 per month with only the first month's payment and my $1000 re-leasing incentive from Honda Leasing paid at start. The money factor is 0.00215 consistent with other posts I see here, and the residual is 49%, which seems to vary across different posts. The quote appears high to me, and significantly higher than my maturing lease. The MRSP used is 45800 and the "initial cap cost is 40409 with 2379 as other additions to cap cost and there is a $1000 cash cap reduction, leaving a adjusted cap cost of 41788. I will be very grateful if car_man or anyone else could guide me about whether the quote is reasonable, and if I have any leeway for further negotiation. Thanks very much for your help!!
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