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Acura MDX Lease Questions

1170 messages,  Last post on Jun 28, 2008 at 3:23 PM

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What is this discussion about? Acura MDX, Car Leasing, SUV

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#421 of 1170 06 MDX - a good deal? Bank lease vs. Honda Financing? by krista11 Nov 16, 2006 (12:51 pm)
Hi Car Man and any others who can help: I've been negotiating on a black Acura MDX Touring with extra options of cargo cover and chrome steps (no nav or DVD). Invoice was originally $35Ksomething, that one sold, this one has added chrome steps and cargo cover, so I'm estimating it at $36K-37K? The cap cost seems really good, better than Edmunds TMV and has those extra options, but money factor is high (compared to Toyota, who is offering .0018 on 2007 4Runner). Option 1 via Honda Financing: Cap Cost $32,582 Residual $18,795 Money factor .0031 (I see you stated Honda's is .0028 in Oct, has it changed for Nov.?) 36 months/12K mileage $599/mo $1493 down (1st mo, $250 documents fee, 15.50 $595 bank fee - is that legit on Honda Finance?) Has a $1500 damage waiver upon return and no disposition fee upon return Option 2 v ia US Bank: Another dealer quoted me a money factor of .00224, so I negotiated that w/this dealer, however, it would be US Bank, not Honda Finance. Dealer claims that the banks are much more stringent about damage upon return? Same cap cost, residual, money down, monthly term and mileage as Option 1 Difference is a .00224 money factor and $570.80 per month However, there is no damage waiver, $395 disposition fee (vs. 0 above) and $350 fee if I want to buy it at lease end. Questions: 1. Am I on the right track for a good deal? 2. Have you heard that the lease return via a bank lease vs. car manufacturer lease are tougher, specifically Acura? 3. Would you recommend one of the options over the other? 4. Do they still have that $3K dealer cash back offer and should I have them deduct that from the $32,582 cost ($29,582 seems unrealistic?   It seems like there aren't many 2006s left and no deals to be had on 07 due to lack of inventory? Thanks much - this forum is terrific and has been helpful. K Replies to this message: Car_man (Nov 24, 2006 5:13 am)
#422 of 1170 Re: Current 07 MDX Lease deal [peligroso] by izmirian Nov 19, 2006 (2:53 pm)
Replying to: peligroso (Nov 07, 2006 4:50 pm) Any more posts? I've done some shopping around this weekend and ended up arguing with both dealers. I'm expecting to get lease deals like they offer for BMW X3s but seems impossible. If you think about it, a loaded X3 runs about 46K which is about same as MDX with Sports Package. I'm shopping for the best deal not necessarily the best car. But I guess it's too early to get that from Acura these days. Replies to this message: Car_man (Nov 24, 2006 5:17 am)
#423 of 1170 Does anyone know real MF for 2007 MDX by izmirian Nov 22, 2006 (6:56 am)
Car_Man or anyone else   I'm planning to lease 07 MDX. I've read all the posts so far. Do you know the exact money factor for leasing for 36 mos with best credit rating?   Thanks a bunch. Replies to this message: Car_man (Nov 24, 2006 5:19 am)
#424 of 1170 Re: 2007 MDX Sport/Tech/Ent Lease [miche25] by Car_man HOST Nov 22, 2006 (6:56 am)
Replying to: miche25 (Oct 25, 2006 5:56 pm) Hi miche25. By 2.8, I assume that you mean that this truck's money factor is .00280. If so, this is right in line with Honda Finance's current buy rate for a 36 month lease of a 2007 Acura MDX for consumers who qualify for its "Super Preferred" credit tier. I would be happy to give you my opinion of this deal if you provide me with this truck's MSRP and selling price.   Car_man Host Prices Paid Forum Replies to this message: izmirian (Nov 22, 2006 9:40 am) Car_man (Nov 24, 2006 5:25 am)
#425 of 1170 Re: 2007 MDX Sport/Tech/Ent Lease [Car_man] by izmirian Nov 22, 2006 (9:40 am)
Replying to: Car_man (Nov 22, 2006 6:56 am) Hello again,   I've got these figures from the dealer. Let me know what you guys think.   2007 MDX Tech Package MSRP 44165 (Destination charge Included) Dealer Discount -1000 from MSRP. 44165-1000= 43165 Money Factor: .0029 Residual: 0.64 12K Per year Acquisition Fee: 595$ Goverment Fee: 77$ Taxes: 1376.10 Document Fee: 245$ Security Deposit: 0$ Residual: 28265.60$ Monthly Payments: 586.65$ Down Payment: $4000.00 (includes fees and first months payment)   This deal looks good to me what do you think? Any hidden costs?     Replies to this message: Car_man (Nov 24, 2006 5:25 am)
#426 of 1170 Re: 2007 Tech/Ent MDX [miamifx35] by Car_man HOST Nov 24, 2006 (4:50 am)
Replying to: miamifx35 (Oct 30, 2006 7:49 am) Thanks for the additional information, miamifx35. OK, so you are interested in leasing a 2007 Acura MDX with the Technology and Entertainment Packages that has an MSRP of $46,365 and a selling price of $45,042. This truck has a dealer invoice price of $41,863. The price that you were quoted for it is $3,179 over invoice. This is a pretty large dealer profit, but then again this is a model that was just redesigned. There's enough room to play here that it wouldn't hurt to get another quote or two on this truck if there are other Acura dealers in your area. You also 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".   Honda Finance charges a $595 acquisition fee on every vehicle that it leases. All consumers who lease through it have to pay this charge and individual dealers do not have the ability to waive it.   Car_man Host Prices Paid Forum
#427 of 1170 Re: Current 07 MDX Lease deal [spektre] by Car_man HOST Nov 24, 2006 (4:57 am)
Replying to: spektre (Nov 02, 2006 5:30 am) Greetings spektre. A money factor of .00290 and a residual value of 67% were used to arrive at the lease payment that Acura is currently advertising on the 2007 MDX. You should be able to negotiate a similar discount and to use the same money factor to negotiate a lease on a model as you want it equipped. In fact, to use a good Thanksgiving reference most manufacturers' advertised leases leave a little meat on the bone. I would not be surprised if you were able to negotiate a larger discount than the one that is being assumed for the purpose of this ad on the selling price of the MDX that you want.   Car_man Host Prices Paid Forum
#428 of 1170 Re: Current 07 MDX Lease deal [spektre] by Car_man HOST Nov 24, 2006 (4:59 am)
Replying to: spektre (Nov 03, 2006 6:46 pm) Well, spektre, they did. This truck's residual value is indeed an amazingly high 67% right now. This great residual makes up for this truck's lousy money factor.   Car_man Host Prices Paid Forum
#429 of 1170 Re: Current 07 MDX Lease deal [peligroso] by Car_man HOST Nov 24, 2006 (5:03 am)
Replying to: peligroso (Nov 07, 2006 4:50 pm) Hi peligroso. You never mentioned the selling price or MSRP of the MDX 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 truck'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.   As you probably already know, the 2007 MDX is a completely redesigned truck that was just introduced. As a result, consumers do not seem to be getting very large discounts on it yet. I have been seeing prices of around $1,000 to $1,500 off of MSRP mentioned. Make sure to stop by the following discussion to see what the latest selling prices that have been reported are: "Acura MDX: Prices Paid & Buying Experience".   Car_man Host Prices Paid Forum
#430 of 1170 Re: 06 MDX - a good deal? Bank lease vs. Honda Financing? [krista11] by Car_man HOST Nov 24, 2006 (5:13 am)
Replying to: krista11 (Nov 16, 2006 12:51 pm) Greetings krista11. Honda Finance's current buy rate lease money factor for a 36 month lease of a 2007 Acura MDX is .00280 for consumers who pay a security deposit at lease signing and qualify for its "Super Preferred" credit tier. Consumers who qualify for this credit tier, but opt to have their security deposits waived have to pay a .00290 factor. Honda Finance charges a $595 acquisition fee on every vehicle that it leases. Even though Acura is not providing any sort of lease support on the '07 MDX, I personally would lean towards leasing through Honda Finance rather than some independent bank unless there was a significant difference in my vehicle's lease payment. I have always had good experiences with Honda Finance.   Acura is still providing $3,000 dealer cash on the 2006 MDX to help dealers unload their leftover models. It is not providing any support on the redesigned 2007 model though. I would be happy to give you my opinion on the price that you were quoted for this truck if you let me know what its full MSRP is.   Car_man Host Prices Paid Forum

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