F-C

Thinking about getting a lease on an MDX. What should I expect to pay?

I've never leased a car before. Any tips on how to get a good deal?

bmoua15

First question is how miles do you drive yearly? I know very little about leasing but the lease to buy options sounded affordable when i was dealing with my 2018 purchase

F-C

I see that once you go over 10,000 miles on an MDX, they start charging additional cost/mile. 10,000 miles doesn't sound like a lot, but I don't drive that much. I don't even drive to go to work.

VMDX

Do a 7500 miles per year. If you're planning on buying the car at the end of the lease then negotiate the total price first, then look at the money factor and residual. If you're planning on returning the car at the end of the lease then give them the number (monthly payment and drive off fees) you can afford and don't worry about anything else. BTW Acura has a miles roll over program if you lease another one at the end.

chujk1985

I am interested in this as well. Thinking about leasing an MDX for my wife.

F-C

Thanks, I'm a complete noob with leasing. So even if I plan to return the car after 3 years, shouldn't I negotiate a total price first, just in case I want to buy it later?

p07r0457

I've leased several vehicles. ALWAYS negotiate the capitalized cost.

Personally, I believe the advice in VMDX's post to be potentially awful. I would never suggest banking on a mileage rollover to another lease. What if your needs change? What if Acura discontinues the program? What if you want a different brand/vehicle next time? What if you decide to buy instead of lease? What if you decide to not get a replacement vehicle? Too many questions and factors to rely on a rollover. And if you can't do the rollover, then it is potentially a lot of $$$ out of your pocket.

As for 7,500 mile lease... Does Acura even do that? I haven't leased an Acura, specifically, but I thought 10k was their minimum? With Honda, 12k is the minimum. Either way, without knowing more about how many miles you actually drive, it's not possible to make any recommendation.

As for throwing out a monthly payment that you can afford, that is a terrible idea. Pretty much every car buying guide recommends AGAINST doing that.

Personally, I've moved away from leases and back to purchases. I like the freedom that a purchase gives me. I can still trade it in, whenever I want, or I can keep it.

VMDX

If you're set on returning your car in three years then you only really need to worry about drive off and a low monthly payments. Some "smart" sites advise you against being a "monthly payment shopper" but think about it, who cares what the residual will be in three years, it could be 70-80% for all you care, it will not be your problem at the end of the lease. You'll pay your $300 disposition fee, hand over the keys and walk away scott free, or you lease another one, skip the fee, and get a loyalty incentive instead. Acura also allows $750 in vehicle damages (including tires), they double that number if you lease another Acura. They allow miles roll over to the next Acura and yes they do have 7500 mile lease program, I should know, I just leased another one . Leases are great if: 1- you drive low miles, 2- like to have lower monthly payments, 3- like to have new, under warranty vehicle every 3-4 years or have a business that can benefit from write offs. I've leased over 40 vehicles in my life so I know a thing or two . Also never pay any "down payment" on the lease, always negotiate it with "drive off" only (first month and registration), and remember you can always do better than what's advertised. Take the advertised price as a base then negotiate it from there. It's a simple math, while dealers can not do much about money factor (based on your credit score) or in most cases with the residual, they however can reduce the price of the vehicle, apply incentives and rebates, and in some cases "trunk money" to make the numbers work. Use a Lease calculator. Play with the numbers, it'll give you an idea how much they need to come down in the price to make your numbers work. Ask your dealer for: MSRP, negotiated price, money factor and residual. Deal strictly with internet sales managers, they usually work for a flat fee, not commissions and are there to move units. If they can make the deal happen they will. Just remember everything is negotiable. Good Luck!
You really need to read an OP and get your facts straight.

Purchase doesn't give you any more freedom that the lease, in fact it's the opposite. If you need to you can trade in leased vehicle just as easy as the purchased, and/or only obligated to keep it for the duration of the lease, while with purchase you're stuck with it for the duration of the loan and can potentially experience a heavy loss, especially if your vehicle's residual value tanked.

p07r0457

Ugh, I'm not getting into this with you. I've purchased and leased dozens of vehicles. You should take a step back and make an honest assessment of your position. Your method is basically a sales person's wet dream, and contradicts all the best practices.

I hate threads like this -- including "what should I pay" and "what did you pay" threads. I normally don't participate, and I regret getting involved in this one. I just felt too bad at the possibility OP would read your post and actually follow your (terrible) advice.

OP: Go read up on this. Except in limited circumstances (for example businesses and temporary residency) leases are NOT the most economical way to drive a car.

And now I'm leaving this thread. Ya 'all have fun with the circle jerk.

F-C

Alright, I'll just make a simple question. All I'm trying to find out is a baseline information.

Acura is currently running the 2018 lease "special promotion" of $419/month for 36 months with $3,299 due at signing. All I want to know is if this is close to the bottom of how low the dealer is willing to go, or is there significant savings that I can still negotiate?

p07r0457

I wont comment on what a dealer is willing or not willing to do...

But that lease is basically a discount of ~$3,781.94 off the MSRP of $47,195.

You can decide if you think that is good, or not.

F-C

Thank you.

I should have read the fine print first:

"Closed-end lease for 2018 MDX 9 Speed Automatic SH-AWD vehicles (YD4H3JJNW) available from July 6, 2018 through September 4, 2018, available to well-qualified lessees approved by Acura Financial Services. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. Lease offers vary based on MSRP. MSRP $47,195.00 (includes destination, excludes tax, license, title fee, registration, documentation fee, options, insurance and the like). Actual net capitalized cost $41,128.06. Net capitalized cost includes $595 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Total monthly payments $15,084.00. Option to purchase at lease end $26,901.15.
Must take new retail delivery on vehicle from dealer stock by September 4, 2018. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 10,000 miles/year for vehicles with MSRP less than $30,000, and 20¢/mile over 10,000 miles/year for vehicles with MSRP of $30,000 or more. See your Acura dealer for complete details."

So doesn't this mean that this deal is based on a capitalization price of $41,128, which is a discount of $6,000 off the MSRP?
Again, sorry for sounding like a noob, but I've always paid for cash on my previous purchases. So no experience with lease or financing.

p07r0457

The trick there is they say "NET Capitalized Cost". You have to factor in the acquisition fee and capitalized cost reduction (money you have to pay to start the lease).

Acquisition fee is something you pay Acura just for the "privilege" of leasing one of their cars.
On this lease, the acquisition fee is $595.

Capitalized cost reduction is basically like a "down payment" to reduce the monthly payments.
With a lease, you pay your first months payment at the time of inception, so we deduct that from the out-of-pocket cost to get the capitalized cost reduction:
On this lease, there is $3299 out of pocket and a $419 first months payment, so $2880 is capitalized cost reduction.

The formula becomes:

MSRP - Discount - Capitalized Cost Reduction + Acquisition Fee = Net Capitalized Cost

Since we know the Net Capitalized Cost, we can use algebra to solve for the Discount.

MSRP - Net Capitalized Cost - Capitalized Cost Reduction + Acquisition Fee = Discount
or:
$47195 - $41128.06 - $2880 + 595 = $3,781.94 discount

F-C

Thank you, kind sir.

VMDX

$3299 isn't all you'll be paying at the time of signing, add tax, license/registration and doc fees that. Bad lease, as I said before never pay any down payment on the lease, just a drive off fees (first month and title/reg fees). You should be able to negotiate it down to $0.00 down payment and keep the same monthly payment. If you're in Cali your drive off fees should be around $900 or so.

chujk1985

All - would you consider this a good lease deal:

2018 MDX Tech + AWD
36 months
12k miles
$0 down
MSRP: $51,595
Cap Cost: $44,652.86
Gross Cap: (+$595 acq fee) $45,247.86
Residual: $27,861.30 (54%)
Base Payment: $508.55

Thanks for the help!
Base + Tax: $547.96

VMDX

You're leaving about $50.00 per month on the table. Try again.

F-C

Silly question. Do people recommend all weather floor mats for leased vehicles? I assume if the vehicle is returned with nasty carpet, they will ding you with extra costs to restore it. I live in NY, so there's there's salt in the winter, plus kids.

chujk1985

F-C

Did they change the cap cost to get it lower?

EE4Life

As I posted in the MDX prices paid and deals thread:
https://acurazine.com/forums/3g-mdx-.../#post16281386

Just took delivery of a 2018 MDX Sport Hybrid with Advance Package in Modern Steel Metallic/Ebony.

It was 1 of 4 remaining in the Chicagoland area (there were 2 Modern Steel Metallic/Ebony and 2 Crystal Black Pearl/Ebony)

Lease options I was interested in:
2018 MDX Sport Hybrid with Advance Package (Modern Steel Metallic/Ebony)
3 years (36 months), 12K miles/year (36K miles total) or 3 years (36 months), 15K miles/year (45K miles total)
$0 down, no trade, top tier credit
MSRP: $59,145 (includes $995 destination charge)
Negotiated Vehicle Price: $50,714 (includes $1500 in Acura purchase flex cash and $2950 in Acura lease flex cash unadvertised incentives)
% off MSRP: 14.25%
Total Acura flex cash unadvertised incentives received: $4450 (this is the maximum amount of purchase and lease flex cash unadvertised incentives in the current Acura program)
Money Factor: 0.00035 (0.84% APR)
Residual Value: $31,938.30 (54% of MSRP) or $30,755.40 (52% of MSRP)
Monthly Payment: $617.30 or $652

I went with the 3 years (36 months), 15K miles/year (45K miles total) for $652/month.

VMDX

This is an excellent deal (slightly better than what I got). When I was getting my ADV/ENT there was a white 18 ADV/ Hybrid right next to it and they were willing to give me the same sweet deal on that one too. The only problem was we needed a bench middle seat so the hybrid was out of question. Once again excellent deal EE!

F-C

Excellent. Thanks so much for sharing.

wmaky

funtogo

Where was this?

MegaManX3

I got a 2018 MDX SH-AWD Tech Package for $368 a mo. I put $5k down, .0005 money factor, residual value $28,700. I paid all sales taxes up front.
My goal was to reduce my monthly as much as possible and I will purchase the car at the end of the lease. Only had it for a few days, but I'm impressed. Big jump from my 2003 TL Type-S.

MDX1977

Wine dude