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Acura MDX Lease Questions

1639 messages,  Last post on Dec 06, 2009 at 6:26 PM

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

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#91 of 1639 2006 Touring w/Nav by njmdx Jan 03, 2006 (9:13 pm)
Hello Car Man,    Can you please provide me with the January Honda Finance money factor and residual value for the 2006 MDX Touring with Navigation for a 3 year 12k per year lease?   thanks much! Replies to this message: Car_man (Jan 08, 2006 7:43 am)
#92 of 1639 My formula for leasing success by whskvs Jan 06, 2006 (6:49 pm)
1. Put no money down. 2. Negotiate the price of the car before the word lease leaves your mouth. 3. Decide on how many miles you drive a year. * 25%. 4. Get the money factor assoiated with the above. 5. plug in #s to a lease calculator online. Compare your monthly payment with what the dealer tells you. If it is the same, close the deal.   If you negotiate on the monthly price, you WILL get screwed.   JMHO Replies to this message: Car_man (Jan 08, 2006 7:45 am)
#93 of 1639 MDX Tour lease by eric_60031 Jan 07, 2006 (6:37 pm)
Maybe someone could help me - maybe Carman!   In Chicago looking to lease a 06 MDX Tour with 15k miles per yr   36 or 42 or 48 mths No cash down Top credit What is a good adj cap amt and monthly payment prior to sales tax?   Thanks Replies to this message: Car_man (Jan 08, 2006 8:00 am)
#94 of 1639 Re: I'm Back... [vickat] by Car_man HOST Jan 08, 2006 (6:14 am)
Replying to: vickat (Dec 29, 2005 7:49 am) Hi vickat. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.   It is difficult for me to give you my opinion on the lease that you were quoted without knowing this truck's full MSRP. This number will show me how much of a discount you are being given on it and enable to estimate what its lease payment should be using Honda Finance's actual lease program. Let me know and I will tell you what I think. You also may want to stop by the following discussion to compare the price that you were quoted to how much other community members have paid for similar trucks lately: "Acura MDX: Prices Paid & Buying Experience".   Car_man Host Smart Shopper / Prices Paid Forums
#95 of 1639 Re: General Leasing Question [tsxowwner] by Car_man HOST Jan 08, 2006 (6:26 am)
Replying to: tsxowwner (Dec 31, 2005 6:32 am) Greetings tsxowwner. The answer to your questions is yes, consumers can lease used vehicles. The problem with doing so though is that most manufacturers do not provide any special deals on used vehicle leases. So even though you are missing out on the big initial depreciaiton hit by leasing a used vehicle, it often ends up costing around the same price, or even less, to lease an equivalent brand new model that has lease support available on it than it does to lease a used one. Given Acura's special lease program on the 2006 MDX and its lack of lease support on used vehicles, I suspect that this is the case with this model.   Car_man Host Smart Shopper / Prices Paid Forums
#96 of 1639 Re: Early Termination on 2003 Acura MDX Touring [tracig] by Car_man HOST Jan 08, 2006 (7:19 am)
Replying to: tracig (Dec 31, 2005 7:48 am) Hi tracig. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle. At least you aren't in a small car, the MDX should have enough room for you to get by until you are near the end of your contract.   Car_man Host Smart Shopper / Prices Paid Forums
#97 of 1639 Re: Just got this offer today [dibbaa1] by Car_man HOST Jan 08, 2006 (7:39 am)
Replying to: dibbaa1 (Jan 01, 2006 10:28 pm) Thanks for taking the time to post your message again, dibbaa1. OK, so you are being offered a 2006 Acura MDX Touring with Navigation with an MSRP of $43,315 for a price of $41,072. This is a discount of around $2,200, or about $2,000 over invoice. If you are in an area where there is a decent level of competition for your business, there is a good chance that you can get a better price than this. You may want to stop by the following discussion to see how much other community members have paid for similar trucks recently: "Acura MDX: Prices Paid & Buying Experience".   Using the prices that you mentioned in your post, a money factor of .00140, and a residual value of 58%, I estimate that this truck should have a 36 month, zero down, pre-tax monthly payment of around $536. If you were to negotiate the selling price down to $40,072, which is a more reasonable $1,000 over invoice the payment for an otherwise identical lease would drop to around $507.   Car_man Host Smart Shopper / Prices Paid Forums
#98 of 1639 Re: 2006 Touring w/Nav [njmdx] by Car_man HOST Jan 08, 2006 (7:43 am)
Replying to: njmdx (Jan 03, 2006 9:13 pm) Hello njmdx. Here is the information that you are looking for. If you were to lease a 2006 Acura MDX Touring with Navigation through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00140 and 58%, respectively assuming that you qualify for its top credit tier and pay a security deposit.   Car_man Host Smart Shopper / Prices Paid Forums
#99 of 1639 Re: My formula for leasing success [whskvs] by Car_man HOST Jan 08, 2006 (7:45 am)
Replying to: whskvs (Jan 06, 2006 6:49 pm) You've certainly got the hang of how to negotiate a good lease, whskvs. Thanks for taking the time to share your strategy with everyone.   Car_man Host Smart Shopper / Prices Paid Forums
#100 of 1639 Re: MDX Tour lease [eric_60031] by Car_man HOST Jan 08, 2006 (8:00 am)
Replying to: eric_60031 (Jan 07, 2006 6:37 pm) I'd be happy to help you out, eric_60031. You never mentioned the selling price or MSRP of the truck that you are interested in, but they shouldn't be too hard to figure out given Acura's simple pricing structure. The truck that you mentioned, an '06 MDX without navigation or the entertainment system, has an MSRP of $40,565 including destination. Let's say that you were able to get it for $500 over dealer invoice, or $37,117. Using these prices, if you were to lease this truck for 36 months with 15,000 miles per year, its zero down, pre-tax monthly lease payment should be around $441. The problem is that leasing in Chicago is very expensive because of how sales tax is calculated on leased vehicles there. I used a 36 month term instead of the longer ones that you mentioned because 36 months is the longest lease that Acura's special lease money factor is available on. Your truck's lease payment will be different if you negotiate a different selling price.   Car_man Host Smart Shopper / Prices Paid Forums

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