| CPanther95 |
My Cherry/Parchment Sport just arrived at the dealer so I should be picking it up this week. :cool: Anybody getting an early unit should definitely check out the lease rates on this thing. Dealer gave me some preliminary numbers, and apparently the initial residual set is very high. Something in the neighborhood of 67% after 3 years and 63% for a loaded Sport model.
Generally a buyer, but this may get me back into leasing. |
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| one4gatr |
quote:
Originally posted by CPanther95
My Cherry/Parchment Sport just arrived at the dealer so I should be picking it up this week. :cool: Anybody getting an early unit should definitely check out the lease rates on this thing. Dealer gave me some preliminary numbers, and apparently the initial residual set is very high. Something in the neighborhood of 67% after 3 years and 63% for a loaded Sport model.
Generally a buyer, but this may get me back into leasing.
Let us know when they put pen to paper. Those numbers just seem too high to me. |
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| CPanther95 |
Yeah, I'm waiting for the actual out-of-pocket numbers before getting too excited. 63% residual with 8k miles a year and a finance rate of 14% won't mean much.
Should have hard numbers later today.
Anyone in Charlotte that wants a great deal on an '03 Sage Green Touring MDX with Navi, RES and a boatload of options w/47K miles - let me know. Just let me know in a day or two. :D |
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| 1092 |
quote:
Originally posted by CPanther95
Yeah, I'm waiting for the actual out-of-pocket numbers before getting too excited. 63% residual with 8k miles a year and a finance rate of 14% won't mean much.
Should have hard numbers later today.
Anyone in Charlotte that wants a great deal on an '03 Sage Green Touring MDX with Navi, RES and a boatload of options w/47K miles - let me know. Just let me know in a day or two. :D
8K/Year mileage is just NOT a good reason to lease. |
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| one4gatr |
quote:
Originally posted by 1092
8K/Year mileage is just NOT a good reason to lease.
My guess is the residual is based more upon expected value at return rather than the 12k extra miles over the standard lease.
Jeff K thoughts please.... |
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| andreseng |
quote:
Originally posted by 1092
8K/Year mileage is just NOT a good reason to lease.
That's what the OP was implying! |
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| timbrwolf9 |
quote:
Originally posted by 1092
8K/Year mileage is just NOT a good reason to lease.
Only 8,000 miles a year? That sucks IMO. I usually put approx. 15,000-20,000 miles a year on my MDX. |
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| CPanther95 |
I was just giving an exaggerated example of what wouldn't be a good deal. Base rate turned out to be 10K with 12K and 15K available. I believe you can get whatever milage you want - $0.10 a mile prepurchased or $0.20 a mile at lease end.
The residual is the real thing at 10K miles a year. 67% base or 63% loaded (presumably something in between for mid-trim levels). I'm going to end up buying anyway, so I'm not pressing for exact numbers, but it's worth checking out if you guys are on the fence.
BTW - picking mine up on Wednesday afternoon. |
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| BigHersh |
quote:
Originally posted by CPanther95
I was just giving an exaggerated example of what wouldn't be a good deal. Base rate turned out to be 10K with 12K and 15K available. I believe you can get whatever milage you want - $0.10 a mile prepurchased or $0.20 a mile at lease end.
The residual is the real thing at 10K miles a year. 67% base or 63% loaded (presumably something in between for mid-trim levels). I'm going to end up buying anyway, so I'm not pressing for exact numbers, but it's worth checking out if you guys are on the fence.
BTW - picking mine up on Wednesday afternoon.
MSRP matters a lot too.
On a lease, you're doing damn-good to get anything under 6.9 from a foreign manufacturer. Let's just say a loaded Tech/Sport is $48,000. A 67% residual = $32,160 expected at lease end. Throw tax (7%), title, license, and APR on that, and you're at roughly, $55,233.00. Figuring $5,000 down (for the big-spenders) and you're financing $50,233.84.
$50,233.84-32,160 = 18073.84/36 = $502.05 for 36 months.
If you can't swing the $5,000, add: $29.70 for every $1,000 you finance,at 6.9% interest (If you get that).
With $1,000 down, expect to pay- $620.85, not including any accessories you might add (wood grain, tow, spoiler, bodyside molding, tint, TLC, etc...)
That's not a bad deal (At 67%), but, out course at 63%, the bottom line goes up by $1,440 (another $45.00/month), and at 12K ($20 - $30/month extra) and 15K/year ($35 - $50/mont extra); the payments go up as well.
Expect to get a deal between $547.05/month - $767.00, and up- depending on your MSRP, add-ons, dealer discounts (doubtful), and credit rating.
To purchase an MDX, at $48,000, with TTL, and a 6.9% APR, (Not counting add-ons) you're looking at $902.00/month for 60 months, $1,150 for 48 months, and $767 for 72 months, and if you can even find something like this, $657.53 @ 84 months, all at 6.9%. But,it's doubtful American Honda will finance anyone past 36 - 60 months, at that low of an APR.
Not on a hot, new vehicle...
I had a girls working for me, who was paying 16% on a Mitsubishi Galant. Credit got hosed up after a divorce....
Worse I ever had was 11%, GMAC's first time buyers plan. |
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| JeffK |
I believe the numbers for 12,000 miles are:
Money factor .00290, = 6.96%
Residual, 48 moths, 53%, 36 months 63%.
Not bad, but certainly not great, especially for a new model.
For comparison, m '03, for 12,000 miles, 48 months, had a residual of 59% and a money factor of .00225, 5.4%.
As I have posted, as cars become more expensive, they retain less of their MSRP.
Acura is now reflecting the real world in their residuals.
JeffK |
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| vicpai |
quote:
Originally posted by JeffK
I believe the numbers for 12,000 miles are:
Money factor .00290, = 6.96%
Residual, 48 moths, 53%, 36 months 63%.
Not bad, but certainly not great, especially for a new model.
For comparison, m '03, for 12,000 miles, 48 months, had a residual of 59% and a money factor of .00225, 5.4%.
As I have posted, as cars become more expensive, they retain less of their MSRP.
Acura is now reflecting the real world in their residuals.
JeffK
....that is the exact same money factor of .0029 that I was quoted. However I was given a residual of 62% for 36 months (Sport/Entertainment fully loaded model)!! .......My fico score is 786, so I'm assuming they quoted me the best money factor, which I believe is not very good (it should be around .0022 to .0023 in today's interest rate market) |
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| one4gatr |
Well I will tell you... went to the Acura lot this weekend and looked at a black on black. Not real impressed. I know some will love and some will hate but in my opinion Acura blew it. I will admit I am impressed by the interior but that should have been addressed in '04,'05,'06. I havent driven it and dont want to. Honestly after seeing this in person it looks alot more like a Toyota Matrix or Pontiac Vibe. No sex appeal for me.
Best of luck to those who drop the 50k on this one. We will try to milk a year or two more out of our '02 and then who knows. |
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| dj-mdx2 |
quote:
Originally posted by one4gatr
Well I will tell you... went to the Acura lot this weekend and looked at a black on black. Not real impressed. I know some will love and some will hate but in my opinion Acura blew it. I will admit I am impressed by the interior but that should have been addressed in '04,'05,'06. I havent driven it and dont want to. Honestly after seeing this in person it looks alot more like a Toyota Matrix or Pontiac Vibe. No sex appeal for me.
Best of luck to those who drop the 50k on this one. We will try to milk a year or two more out of our '02 and then who knows.
Same post on 4 different threads? Where's your creativity? And what does this post have to do with lease rates?
:confused: |
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| one4gatr |
quote:
Originally posted by dj-mdx2
Same post on 4 different threads? Where's your creativity? And what does this post have to do with lease rates?
:confused:
Well thanks for noticing DJ... yes same post four threads. Up until yesterday after reading Big Hersh's review (which partially won me back) I thought I might be a player for an '07. But after seeing one in person I am definately not.
What this has to do with leasing is after seeing I will not. Perhaps some of the people who had posted on this thread were the same as me. My first post in this thread came BEFORE I had seen the '07 in person. I was thinking after seeing the release pictures I wouldnt buy again. Then Big Hersh's review and I thought you know maybe. But after yesterday NO WAY. Not to boot the 50k price tag.
I would suggest that anyone thinking of leasing hold out for a bit because I think the new MDX will be alot like the new RL in the respect that it is overpriced.
I hope this clears it up for you DJ... |
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| CPanther95 |
| Lame. :rolleyes: |
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