| PAINDOC |
What do you think about this deal on a lease on a new 2005?
36 mo.
12k
0 down
592.00 X mo plus tax
Its a touring navi with DVD. |
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| JeffK |
Glad to reply if you furnish:
MSRP
What you are paying
Money rate
residual
Bank fee
Of course you can do this yourself by going to:
http://www.leaseguide.com/calc.htm
BTW, with a 48 month/50,000 miles warranty why not go for 48 months instead of 36 months?
Also, I assume you have read my prior posts and are not putting anything done - including taxes. |
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| JeffK |
| I meant not putting anything down not done |
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| Dr. Ken |
| I would never lease a car such as this. 12k miles? We have a 2004 and have put 18k miles on it since last October when we got it. At that rate the overage on mileage would have killed us. Besides when you lease it is not your car and when you turn it in at the end of the lease period, unless it is in perfect condition, you will get zapped on a lot of things such as dings, etc. Also, if you add anything to it later, you will find it hard to get your money back on those purchases. |
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| JeffK |
Dear Dr. Ken:
I will not debate with you about the merits of leasing vs. buying. You can read my prior posts to educate yourself.
Clearly, with the mileage you are putting on your MDX, leasing may not be for you.
But consider this for a moment: Mileage charges reflect the reality of a decreased value.
When you own, the greater the mileage the less the value on either a trade in or sale. This I suggest is obvious.
Mileage surcharges in a lease reflect this fact.
Perhaps you were not aware of the fact that with a lease with Honda Financial the first $1500 of damage are WAIVED.
So minor dings, dents, etc. are not an extra cost.
JeffK |
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| tommyj |
JeffK:
Would you please give me your expert opinion on how I did on my 2005 Pilot EX Leather lease? I have read lots of your posts and believe they helped me greatly.
36 Month lease 12K miles 15 cent for extra miles.
MRSP $32,835
Res $19,701(60%)
MF 0.00155 (3.72%)
PMT before tax $352.72
Tax $24.69(7%)
Total PMT $377.41
Nothing down other than 1st month's pmt of $377.41.
The way I figure I paid $29,713 or $124 over invoice.
The $29,713 includes bank fee.
Thanks in advance. |
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| JeffK |
Happy to, but I need the following:
Length of lease in months.
Negotiated price
Sales tax rate
JeffK |
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| tommyj |
I edited my original post to include lease months and miles and tax rate.
I guess my negotiated price would be $29,713 to include all fees. I negotiated payment and backed into price using a spreadsheet that had the residual and money factor as fixed. |
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| JeffK |
I just went to lease calculator:
http://www.leaseguide.com/calc.htm
Using:
MSRP of $32,835
Residual of $19,701
Cap cost (negotiated price) of $29,713 (including bank fee)
MF .00155
Term 36 months
The monthly payment computes, before taxes to $354.70.
Your monthly payment is $352.72, virtually the same.
So your conclusion that the negotiated price of $29,713 is correct.
You will have to go to either Edmund's.com or KBB.com to determine what percentage of invoice the $29,713 represents.
JeffK |
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| dpham |
| The dealer says there's an acquisition fee of $500 that's required by Acura leasing. Is this true? |
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| JeffK |
Acquisition fee is the same as bank fee.
When the MDX was hot in 2003 (I paid MSRP) this fee was non-negotiable.
With $1500 rebates, the dealer is obviously in a weaker bargaining position. There may be room to negotiate.
Bottom line is that price on a 2005 should be at or below invoice.
Good Luck!
JeffK |
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