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Prices Paid: Buying & Leasing Experiences Acura MDX Lease Questions
1637 messages, Last post on Nov 30, 2009 at 3:34 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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Replying to: msa6 (Oct 14, 2005 2:48 pm) |
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Hi msa6. A 2005 Acura MDX Touring without the entertainment or navigation systems has a dealer invoice price of $36,400. The price that you were quoted, $38,000, is $1,600 over invoice which is not bad considering that it is a discount of over $2,300 from this truck's full MSRP. Having said this, if you are in an area where there is a decent level of competition for your business I would not be surprised if you were able to beat this deal. You may want to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Acura MDX: Prices Paid & Buying Experience". I notice that the deal that you were quoted requires a $1,599 down payment. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your MDX would be exactly the same, regardless of whether you had put $1,599 down, or had made absolutely no down payment at all. Car_man Host Smart Shopper / Prices Paid Forums |
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Hello stillsearching. You never mentioned the selling price or MSRP of the truck that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this vehicle's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 24, 2005 2:20 am) I just got a quote on a lease for a '06 Acura MDX (MSRP $44,500) with absolutely everything for $1650 out the door (no cap cost reduction), 12k per year, $610 + tax for 42 mos., or $653 + tax for 36 mos. I leased a '05 RL for less than the above which makes me think I could do better. What do you think? Thanks. |
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I got an offer in Saint Louis to lease the Acura 2005 MDX touring with Nav and Entertainment system for $627/month (including taxes), no money down on a 42 month lease at 15,000 miles/year. Selling price woule be $38,987. Alternatively a 36 month lease on the same vehicle with a selling price of $40,487 came to $647/month (including taxes) with no money down for taxes or registration costs. Can I do better ? Cseetham |
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Recently I helped my sister in law lease an mdx. Agreed to terms on one not in stock but assured it would be in in about a week. Now they say it won't be in till the 22 of november. She has allready signed paperwork on this lease. Would it be possable to refuse delivery on vehicle unless dealer makes up one month payment for delivery being so late? What are some other options? She still wants the car. Just trying to figure out how to not pay on a car she can't drive? Thanks all for input and advice....Dan
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