| Ravina |
I just spoke to my Acura rep and he told me that on the Elite MDX - they have slashed $9,000 on the 2008s.
I bought 1 month ago, do you guys think there is any recourse or procedure for rebate after the fact for me. |
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| Ravina |
All these views and no comments from anyone.
Well let me help start ... for one thing there is a class action lawsuit against auto manufactures for price inflation in Canada.
Anyone else from Canada want to help out with suggestions.
Believe me, there is always a way when there's a will. |
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| phins2rt |
| Your resale just took a big hit!! It will be interesting to see how all of this pans out. Good luck! |
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| mdxpursuit |
Spoke to my Acura dealer today in Ontario.
He tells me they are reducing the MDX list prices by:
Elite model - 9K
Tech model - 8K
Base model - 7K
Conversely, if I wanted to lease a vehicle, the interest rates were:
36 months 0.9 %
48 months 1.9%
Unfortunately, you cannot combine the deals (lower cost/less interest).
He did say that the residual on my 05 will take a big hit......so in other words, what is given in one hand is taken in the other.
I am not curious enough to have the numbers worked as I know it would be depressing!
Their strategy is to attract "new buyers only" with this advertised deal. |
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| JeffK |
The new lower prices will be reflected in lower lease rates.
Either the MSRP will be lowered or their will be rebates: Either way the lease rates will be lower.
One exception: If there is a rebate which only applies to a purchase as opposed to a lease.
For those of you bought previously: I suspect you are out of luck. Also the resale value will plummet.
Think of it this way: If the price had gone the other way, you would not be willing to pay more would you? Of course not!
As I previously posted on a different thread, this is exactly what happened in the '80's with German cars: the dollar soared in value to the German mark but the Germans tried to maintain an inflated price in the US vs. Europe.
Entrepreneurs started bringing in cars bought in Germany, federalized them and sold them for $10,000 to $15,000 less than the same models sold in the US dealerships.
Within 1 year the prices in America were reduced to reflect the increased value of the dollar.
Same thing has happened in Canada.
BTW, if you leased in Canada your hit is much, much less than if you had bought.
Another reason I prefer to lease than buy, but this is not a thread on leasing vs. buying - just mention it in passing.
JeffK |
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| gogozy |
quote:
Originally posted by phins2rt
Your resale just took a big hit!! It will be interesting to see how all of this pans out. Good luck!
i did not expect they acura to react so early..
9k drop!!! this is good saving. when x was released, i hold out purchasing mdx because i want a recline rear seats and 6AT. now i am not sure if i shall buy it now or wait for 6at. i saw the news at tov that Honda is working on 6at and V8.:rolleyes: |
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| onlymdx |
Hello,
I am new to the Forum and am currently looking to buy either a demo 2007 MDX Elite or a new 2008 MDX Tech.
I'm still not sure if I should go with the demo (~10K km) vs the new 2008, more bells and whistles for the same price. Any thoughts?
Also, where in Ontario is your dealer located that told you about the new price slashing on 2008's?
Thanks!:) |
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| CalgaryJeremy |
Although I do have sympathy, I have to ask what you were actually thinking given the large pricing disparity between Canada and the US AND the continuous attention of the media to this issue.
(One note: It drives me crazy when people talk about how this is a RECENT issue with our dollar achieving parity-plus - All manufacturers had been pricing their products for an exchange rate last seen circa 2003!)
We had specifically waited for Acura to drop their prices or do something to address the issue and now we're hoping to close a deal to purchase an MDX. That being said, the folks that are still running out to buy cars today, even though the prices are still very different from the US, are the ones that are slowing down the gradual shift to more realistic pricing for Canadian cars. I wish that you, as well as the thousands of other people that bought in recent months would have put off your purchases to effect some degree of change.
(Note 2: I don't think our cars should be priced at parity given economies of scale and exchange rate risk, but an exchange rate of 1.15 to 1.2 would be more reasonable than what is out there.) |
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| onlymdx |
I agree with your comments and if you note I indicated I was thinking (doing research) about a new MDX. This research led me to this forum which I have been scanning intensively along with various/numerous reviews.
As a result I made up my mind and was waiting until something happened to react to the disparity in pricing, and it has this week, so I bought today and with negotiations saved myself $9.5K on a 2007 Elite, plus the savings on the taxes, plus .9% financing for 4 yrs.
From my perspective (and everybody's deal/situation is different), this brings the CND pricing in line with the US, especially when you factor in the .9% factor that lets you leave your money invested earning much higher returns over the 4 yrs than if I would have paid cash for a US car, plus losing the warranty, road side assistance, problems getting parts, delays for service... etc.
I'm thrilled and can't wait to get my wheels on Monday. I was also looking at the Enclave, Gr Cherokee Ltd., RX 350 and advised those dealers that the reason I was not buying from them was their inability to do anything to address the disparity issue |
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| gogozy |
quote:
Originally posted by onlymdx
I agree with your comments and if you note I indicated I was thinking (doing research) about a new MDX. This research led me to this forum which I have been scanning intensively along with various/numerous reviews.
As a result I made up my mind and was waiting until something happened to react to the disparity in pricing, and it has this week, so I bought today and with negotiations saved myself $9.5K on a 2007 Elite, plus the savings on the taxes, plus .9% financing for 4 yrs.
so the rebate apply before tax and 0.9% finanace can be use together? is this is true, this is pretty good!! |
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| onlymdx |
Hi,
No they are not combined. The dealer had dropped their price for an 07 Elite by $5K to move it. I negotiated further and had them throw in a bunch of options which totaled almost $4k. Since it was a purchase, I also got the .9%, still a very good deal that satisfied my requirements. |
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| c8Face |
Just to clarify the rebate, I talked to my local dealer and it is an AFTER TAX rebate.
For example, let's say your negotiated price is $59,000. You must pay tax on the $59,000 (luxury tax here in B.C. over 55k) so that comes to
$59,000 * 1.16 = $68,440 - $9,000 = $59,440
If you were to calculate the rebate before tax, the savings would be even better, especially since it puts you in the "normal" tax range.
$59,000 - $9,000 = $50,000 * 1.13 = $56,500
As you can see, the difference between these calculations is $2,940. |
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| gogozy |
| thanks, so the $9000 rabate is actually about $7900 in Ontario. |
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| c8Face |
Update....
Just got a call from my local dealer, and the cash rebate policy has changed.
It is now a BEFORE TAX rebate.
For those of us who don't like paying taxes in BC, the MDX Elite is now below the 55k luxury tax barrier!
$62,200 - $9,000 = $53,200 |
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| gogozy |
| i dont know what make them change their mind... but this is good. i MAY consider a visit to dealer for test drive next week. |
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| ottawa |
Hi;
The word is that significant discounts are available. Has anyone actually purchased a MDX these past few weeks and what was the deal you managed to get? |
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| BlueSteel |
Picking up an new 08 Tech tomorrow. Steel Blue / Black
I used Car Cost Canada to get invoice pricing and they also recommended a local dealer. The car cost canda report also showed the factory cash rebates and finance options.
I took the rebate ($8000.00) after negotiating for 5% over invoice. They also gave another 1% off the GST since it is dropping from 6% to 5% in January. The end result was $52165.00 OTD.
The contact from Car Cost Canada said I would have dificulty getting lower than that due to market conditions in my area (Alberta).
I am happy with the price after the rebate since 08 US models can no longer be imported due to the immobilizer issue.
I had looked at 07's back in June, the base MDX, but didn't go forward due to the cheaper price on US models and our dollar was then below parity (Can $0.95 to US $1)
Now I have an 08 Tech for less than the 07 base would have been then. It is still higher than US prices but they have come a lot closer than they were. |
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| gogozy |
thanks! so is it true that the rebate applied before tax?
and what is the OTD tax rate in Alberta? thanks! |
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| BlueSteel |
| The rebate applied after tax only. In Alberta there is no sales tax, only GST, so it was 6% but as I said the dealer gave a 1% gst credit as the rate is dropping to 5% in January 08. |
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| gogozy |
| so the price before tax is.... around 57,000. so the rebate before tax rumor is not true? |
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| northerncrusher |
| Just bought a base 2008 MDX for $49,000 including gst, Alberta. Tried to do a deal in the U.S. but couldn't find a dealer that would let it go without paying the state sales tax, fee ... Could have bought a 2007 Base for $40,000 U.S. total. |
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| elaudds |
| Live in Vancouver and will be picking up a MDX tech package for 48,262 before taxes. Tax is 5% gst and 7% pst. Any idea how much the autostarter can be had for from the dealers? |
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| c3uo |
Wow, that is a great price elaudds. How did you get a Tech for $48,262? Is that an 08?
I thought they did away with the cash incentive? Here out east the lowest pice I could get is $57,800 plus tax for a 2008.
That seems ridiculously low, assuming it is a new vehicle. Good job. Can you provide details?
I think I'll be buying in the states with the difference in price..... |
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| elaudds |
c3uo - Perhaps things have changed out east but the cash incentive is still on till Jan 2, 2008. Vehicle price for 46056. FPDI 1855
misc taxes and levies about 356.00 and then taxes.
The list price for the tech 08 is 57,200 is BC.
And yes, it is an 08.
Hope that helps |
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| banja |
I live in Toronto and just bought 07 MDX, Sports/Enter. package in the US. 7500 miles and paid $41,500 US. I don't care how much they lower prices here in Canada they still won't be close. I saved $18,000 comparing to Canadian prices for same used Elite.
They are ripping us off here in Canada and they are suffering big time. |
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| cFoo |
| elaudds, can you pm me the dealer? I'm in shopping for one :) many thanks. |
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| cFoo |
| The new deal is not as good as the one before January 2nd. It is now $6,000 off the tech package and $7,000 off the elite. |
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| elaudds |
| Try Burrard Acura - Wayne Suzuki. Try not to get hosed in Rmd. Best of Luck |
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| dory |
Has anyone in the prairies purchased an Elite lately? If so, can you let me know what you paid and where you bought? Looking to deal on one, but with only one dealer in my city, I am guessing the deals will be slim, so want to have some other dealers handy (as we are willing to drive and purchase elsewhere).
Totally annoys me that the deal is only 7K now. We were wanting to buy before X-mas, but got busy and had no idea that there was a 9K deal that ended Jan. 2! |
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| scadagawd |
Elaudds,
That's a great deal you have there. Am looking for an 08 MDX and also live in Vancouver and just visited Burrard Acura on the Weekend. They were quoting me $50,982 for the base model before taxes! Your $48k with Tech package is extremely great. You said you dealt with Wayne Suzuki, was he the sales manager or just the sales guy? The Tech package is $57,200 plus PDI. This meant that you had a savings of about $9k. Maybe he never applied any rebate to the X or there are no more rebates to offer from Acura in Feb? |
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| dory |
| From what I can tell, there are still rebates, they are just lower again. Max rebate on the MDX is $6500 I think according to this page http://www.silverhillacura.com/NewV...86/Default.aspx This is the dealer where we bought our MDX Elite and they seem to always have the current deals posted. |
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| ottawa |
With Lexys RX at 44K and Toureg 2 at sub 45 MSRP, MDX with a rebate instead of MSRP adjustment is going to see sales dwindle.
Acura and Honda generally speaking will be brought back to reality with February sales figures as Toyota has done a good job in lowering prices across the board (not enough but a good start). I would not be surprised to see Honda react in a couple of weeks.
They are counting on their market position to command a premium price, that would have been ok should the competition be Kia or Hyunday, not with Toyota and VW. |
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| scadagawd |
| I think you're right Ottawa. I'll probably hold out a bit longer to see if Acura will lower their overall package with the X before buying. |
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| elaudds |
| Nope wayne just a sales guy. When i bought there was the automatic 8000 off cash deal. so that took the tech down from 57200 to 49200. Then got it down to 46000 before trade in. Hope that helps. I heard that the rebates have changed since January sometime. Not current with the latest offers. |
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