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Acura MDX, Car Leasing, SUV
#1436 of 2813 End of Lease question
Mar 31, 2009 (8:26 am)
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...
#1437 of 2813 April Numbers
Apr 02, 2009 (4:00 pm)
Any word on April MF & residuals for a base MDX with 10k miles?
#1438 of 2813 Advice on MDX Lease quote
Apr 04, 2009 (9:24 am)
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!!
Apr 06, 2009 (10:44 am)
Live in the NY Metro Area - got the following quote for an 09 MDX Premium (Base Model)
499 per month / 36 months
They want $2800 down plus TTL on top.
They are also picking up my last 3 payments of $430
If i can get them down to just putting up TTL and 1st month payment should i jump at this? Im pretty sure i have seen commericals in the past for MDX with 399 per month. My existing lease is up in august so i have some time to wait but would rather get something done sooner than later
Thanks for the respones
#1441 of 2813 Anyone can offer their input for ost #1436?
Apr 06, 2009 (11:37 am)
Anyone can offer their input for ost #1436? car_man? kydfx? Anyone? Thanks!
#1442 of 2813 Re: Lease Question [donnyjeffcoat]
Apr 09, 2009 (9:30 am)
vipautony is advertising what seem to be low rates on mdx. Would be interested to know if they are legit. Check them out online and follow-up with a call.
#1443 of 2813 Re: End of Lease question [gr8nrg]
Apr 09, 2009 (1:29 pm)
Your 2006 MDX is worth around $20,000. That being said, there isn't much more to discuss as all other points in your post are rendered irelevant.
#1444 of 2813 Re: End of Lease question [ucjjg]
Apr 11, 2009 (8:53 am)
no way. It's much more than that. Where did you come with THAT figure?
#1445 of 2813 Re: End of Lease question [gr8nrg]
Apr 11, 2009 (12:31 pm)
Wholesale for an 06 mdx ---22k above average condition / 20k average/ 17 below average. With the cracked windshield you would be closer to average than above. ucjjg was pretty much right on the money with his estimate. Dealers will typically add 12-14% so the retail range would be 18.6k-25k. Private price 5-10% over wholesale.Of course cpo would add thousands more.