Last post on Jun 15, 2013 at 9:25 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Acura MDX, Car Leasing, SUV
#2483 of 2636 Re: Never leased..questions on 2 vehicles [ken117]
Aug 29, 2012 (4:12 pm)
This is my first post on here, so I hope I'm giving over all the required info...
I bought my wife a 2012 MDX base about 8 weeks ago, and was able to beat the dealer down from the $43K MSRP down to $37K minus another $1k loyalty.
I am now looking to trade my 2003 MDX Nav for another 2012 MDX - either a base or a Tech.
I called the dealer and said I wanted the same $37K minus $8500 for my MDX (KBB is about $10k or so) minus the $1k loyalty. He said he could do that and I'd be at $525 a month. He then asked why I don't go for a lease - which would not only give me $6k back as cash on my trade, but get me the base for $469 a month.
I've never leased a car before - I drive ~7500 a year, so I shouldn't have a problem on that end and my credit is over 740; my concern is the lack of equity in the car.
Is that lease offer a good deal or is his pulling one over me since I don't know/understand the lease ins and outs?
Not sure if it matters, but I'm in the Baltimore, Maryland area.
Thanks for any advice!
#2484 of 2636 Re: Never leased..questions on 2 vehicles [whusurdadi]
by Car_man HOST
Sep 03, 2012 (1:40 pm)
Welcome whusurdadi. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.
In short, essentially you should be able to take the same low selling price that you negotiated for a purchase of the MDX that you want and have the dealer calculate your payment using that price as the capitalized cost and a money factor of .00090. this money factor assumes that you qualify for Acura's top credit tier.
Prices Paid: Buying & Leasing Experiences Forum
#2485 of 2636 MDX Tech + Ent + Remote Starter in NJ
Sep 06, 2012 (11:24 am)
Just leased yesterday.
MDX Tech + Ent. + Integrated Remote Starter
36 months / 12k year
Total 2000 out of pocket (Includes, Tax, Title, First Month, Bank Fees, Tags etc.)
535 Per Month
I traded in a leased Honda Pilot which had positive equity. So, total cash out of pocket was $760.
Hope I did well. Love the car and the whole leasing experience. Dealership and staff were great with no pressure to buy.
#2486 of 2636 Re: MDX Tech + Ent + Remote Starter in NJ [hondafan14]
Sep 07, 2012 (6:01 am)
Can you tell me which dealer you used in nj
#2487 of 2636 Re: MDX Tech + Ent + Remote Starter in NJ [sgupta7]
Sep 07, 2012 (10:27 am)
Park Avenue Acura in Rochelle Park. I worked with Nick Martinez and he was great right of the bat.
#2488 of 2636 2012 Acura MDX Base Model Lease - Socal
Sep 10, 2012 (2:41 pm)
This is my first post on this site. I figured since these posts really helped me figure out what deal to look for, I'll post information on the lease deal I got over at the Riverside dealership. I signed my lease on 8/31/2012.
2012 Acura MDX (Base):
The agreed upon Vehicle Purchase Price: $36,000
On the lease agreement, they put $37K but added $1K to down payment (given by the dealership), so it came out to be $36K
They added the acquisition fee of $595 at the end though,
so my real total was $36,595
Drive-Off (includes license fees, 1st mo. payment, etc..) = $975
Lease Term: 36 mos
MF: 0.0009 (~2.16% Interest Rate)
Residual Value: $24,598
Before 8.75% Tax: $388.33
After Tax: $422.30
This deal was made via email which made it very convenient for me since everything was pretty much set and done by the time I got to the actual dealership. I was contacted by a female sales rep and she was very quick and efficient. I talked to her a little on the phone and she was very professional.
Unfortunately, due to a family emergency, she could not help with the actual lease signing but she made sure to have another individual help me with the process. She was nice but I don't think she has much experience and she was not very enthusiastic so my experience via email and phone was pretty positive. However, my experience with the other individual who actually showed me the car and helped get the deal through, was not as positive. It wasn't bad per se but I think if the one I worked with via email & phone was there, the car buying experience would have been a bit more enjoyable.
Hope this helps! Also, please advise if you think I got a good or bad deal. I'm pretty happy with the deal I got and I plan to purchase the vehicle at lease end as long as no big issues come up.
#2489 of 2636 Re: 2012 Acura MDX Base Model Lease - Socal [mistyk1015]
Sep 10, 2012 (2:04 pm)
Wow...your payment is only $422.30 p/m....?
#2490 of 2636 Re: 2012 Acura MDX Base Model Lease - Socal [jdyszel]
Sep 10, 2012 (2:39 pm)
Yup, $422.30/mo. I think the timing worked out well because Acura was having good financing offers and as long as you qualify, you'll get a pretty good rate. However, I only get 10,000 mi/yr.
I just read that I should leave off salespeople's names. I'm going to have to edit my previous post.
#2491 of 2636 2012 Acura MDX Base Model Lease - TX
Sep 13, 2012 (9:47 am)
Car_Man: This is my first post on the site but have used this site several times over the years to negotiate good deals ... infinite thanks .
Nonetheless, it's time for a new lease and am getting the following on a 2012 Acura MDX Base lease:
Price of vehicle $37,986
Residual value $22,841
Monthly Payment: $545/mo. (includes TT+L)
36 months and 12k miles/yr.
Only first payment out of pocket at signing.
I think there is some movement on the final price of the vehicle however I am not sure if the residual is correct, can you please confirm. Also looking at a 2013 Volvo XC90 and will post lease info on the XC90 forum. Thanks in advance.