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Hello guys... first timer here! I am trying to jump on the Acura train and wanted opinions before I pull the trigger...
I attached the window sticker for the car. Given $50,210.00 as the window sticker price, the dealer offered me $47,500.00 including all fees (destination, processing fee, Virginia Taxes, tags & title) + remaining leasing fees.
I currently lease honda accord and it has 2 leasing payment left (Which is around $1060). So basically I give them the honda accord and they take care of the remaining payments and I buy the 2016 MDX $47,500.00 out the door.
Get a payoff quote from your leasing company then KBB the trade-in value of your accord. You most likely have equity in it. The dealer would be pocketing that equity.
Get a payoff quote from your leasing company then KBB the trade-in value of your accord. You most likely have equity in it. The dealer would be pocketing that equity.
It's most likely NOT even as hondas hold their value well and almost always have equity left in the lease.
As a straight up purchase with no trade I'd say it's an "ok" deal. Invoice is $46,768. So they are making $730 plus dealer incentives and holdback. I never pay above invoice for a car.
...but you are trading in, and you most likely have equity, so they are making a lot more than that.
And how are you financing? Did they give you the rate or did you get it yourself? You should always get your own financing first and then let them beat it. There is no obligation for them to give you what the bank offered. If the bank offers 2.0 they can tell you 2.5 and pocket the extra cash that your credit rating has earned.
It's most likely NOT even as hondas hold their value well and almost always have equity left in the lease.
As a straight up purchase with no trade I'd say it's an "ok" deal. Invoice is $46,768. So they are making $730 plus dealer incentives and holdback. I never pay above invoice for a car.
...but you are trading in, and you most likely have equity, so they are making a lot more than that.
And how are you financing? Did they give you the rate or did you get it yourself? You should always get your own financing first and then let them beat it. There is no obligation for them to give you what the bank offered. If the bank offers 2.0 they can tell you 2.5 and pocket the extra cash that your credit rating has earned.
so I checked my accord payoff amount which is $18880.00.
I also checked the kbb value if i were to trade in to dealer with ~46000 miles of excellent condition. It comes out to be similar. Keep in mind that the the car has rear bumper damage which would cost me about $500 to fix.
I just called the dealer and the rep told me the following:
car sale $44910 including destination fee
tax is $1883
processing + tag + others = $738
So adding all that, out the door price is about ~$47500
I am playing to go through penfed. which is about 2.25 right now.
How does this deal sound?
Yea that's a lot of miles on the lease. I was expecting 30-36k, and the bumper damage doesn't help. Plus they will rarely give you "excellent condition" even when it is. And I thought your $47,500 was the sale price. So yea I think that's pretty good then.
Yea that's a lot of miles on the lease. I was expecting 30-36k, and the bumper damage doesn't help. Plus they will rarely give you "excellent condition" even when it is. And I thought your $47,500 was the sale price. So yea I think that's pretty good then.
I lied. probably about 36k haha. Now that makes me feel better. Thank you for your helpful feedback! I will pull the trigger in about 5 hours
06-29-2015, 08:17 PM
