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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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Hi, Anyone have the october rates on MDX's right now w/ navi? Thanks ka |
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Hi nolefish. I can give you an idea of what the current lease programs are like for the 2005 Acura MDX, but I have not seen the lease program for the 2006 model yet. I expect Honda Finance to publish residual values for the '06 MDX soon. Acura will probably not initially provide any sort of lease support on the '06 MDX though. Let me know how long you want to lease for and how many miles per year you need to be able to drive and I will tell you what the lease money factor and residual value for this truck currently are. If you provide me with its full MSRP (with the destination charge added in) and an approximate selling price, I can estimate what your lease payment should be as well. I do not know if the 2006 MDX is being offered in any new colors, but you may be able to find out by visiting the following discussion: "Acura MDX". Car_man Host Smart Shopper / Prices Paid Forums
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Hey someguy1. I have had an opportunity to take a look at the new October lease program for the 2005 Acura MDX and would be more than happy to give you an idea of what it is like. However, in order for me to do so I need you to tell me how long you want to lease for and how many miles per year you need to be able to drive it. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 06, 2005 3:43 am) What did you mean by "Acura will probably not initially provide any sort of lease support on the '06 MDX though."? Finally, I plan on leasing for 36 months and will want 15,000 miles per year. I will probably pursue a Touring model and possibly add a DVD system. That leads to another question. I would prefer a DVD system with the screens in the headrests instead of a flip down screen (blocks the rearview mirror). Is there any way to have an aftermarket DVD system installed and have it incorporated in the lease? |
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Replying to: Car_man (Oct 06, 2005 3:45 am) I would be looking at 36 months and 15K miles thanks ka |
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Replying to: Car_man (Oct 03, 2005 3:03 am) |
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You're welcome nolefish. The fact that you will be able to negotiate a lower selling price on a 2005 MDX right now and that Acura is providing lease money factor support on the 2005 model, but not the 2006 model, will almost certainly more than offset the fact that the 2006 model will have slightly higher residual values when it hits lots. I suspect that you will be able to get a much lower lease payment on an '05 MDX than you will be able to get on an '06 MDX at this time. If a manufacturer is not providing special lease money factors on a vehicle and you want to lease it through its captive finance company, in this case Honda Finance, you will have to use its standard lease money factors. On this particular model, Acura's money factor on the 2005 MDX is .00160, but since is is not supporting the 2006 MDX yet its money factor is higher at .00250. These are equivalent to interest rates of 3.84% and 6.0%, respectively. You probably can have an aftermarket entertainment system put into your leased MDX rather than going with the factory installed one. However, aftermarket parts, like DVD screens in vehicles' headrests, cannot be residualized. This means that you will have to pay for the full cost of the system that you have installed over the course of your lease, rather than for just a percentage of it like you would have been able to do with a factory installed system. Let's say that the DVD system that you want costs $2,500 and you lease for 36 months. Having it put in your leased MDX will increase your monthly payment by almost $70 per month. Car_man Host Smart Shopper / Prices Paid Forums |
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Don't worry about it someguy1, it happens all the time. OK, if you were to lease a 2005 Acura MDX (non-Touring and without navigation or rear entertainment) through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00160 and 58%, respectively. Car_man Host Smart Shopper / Prices Paid Forums |
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Thanks fusdreyer. A fully loaded 2005 Acura MDX Touring with both the entertainment and navigation systems has an MSRP of $44,545 including destination. If you were able to lease one at dealer invoice, which would be impressive, that would give you a capitalized cost of $40,180. Using these numbers and Honda Finance's current lease program for this truck, I estimate that its 36 month, 15,000 miles per year, zero down, pre-tax monthly payment should be around $563. With this deal, at lease signing you would have to pay your first month's payment, a security deposit of around $600, Honda Finance's acquisition fee of $595, and any required state taxes or fees. Car_man Host Smart Shopper / Prices Paid Forums |
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What are people seeing on leases for '05 touring MDXs? I was offered roughly $470/month with 15,000 miles. $1599 down, against a selling price of $38,000 (way too high, in my opinion), $595 lease acquisition fee and $500 deposit, along with tax/tags. 36 months, 56% residual on the 15,000 miles.I'm thinking I should do better, no?
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