New to this forum and still in the process of doing some reading. Looking to see if this is a good deal below.
MSRP 52,295.00
Selling Price 47,141.09
Government Fees 221.00
Documentation Fee 175.94
Capitalized Taxes 1,510.00
Acq Fee 595.00
Gross Capitalized Cost 49,246.09
Residual Value 30,854.00
Net Cap Cost 49,246.09
Amount Paid by Customer 995.94
Money Factor 0.0011
first month and fees due at signing of $1000
TY in advance
Depends on:
Where you are located
Is tax included in $599
What incentives are applied
Initial take is that no, it’s not a good deal. Acura is shoving MDX out the door with its little brother, the RDX, stealing the show and bringing in profits.
Located in Chicago, from what I gathered tax is included in $599/mo
no incentives applied.
Should I be looking to negotiate a better “Selling price”?
I recommend using Edmunds et al to find MF buy rate and available incentives.
You should always be targeting a lower sales price. Once they say they’re at the bottom, get another $500 off till they just won’t play any more.
Lowering the MF will help a great deal, it’s a little high, though I don’t know the buy rate.
It’s a suspiciously round number due at signing, smells of a cap reduction. Get the breakdown.
Base MF is .00025 so they’re definitely jacking that up.
That makes a huge difference. Lower it by MSD or by sheer will; but lower it somehow!
And actually, residual value looks off (a little too high strangely). I wonder if they’re not using Acura financial?
Thanks guys. Let me try to get a bit more info and also do some more research on Edmunds.
Got some numbers on the 2019 base AWD-SH (almost 7k down)
MSRP 47,295.00
Selling Price 42,458.36
Government Fees 221.00
Documentation Fee 175.94
Capitalized Taxes 1,320.00
Acq Fee 595.00
Capitalized Cost 45,368.35
Residual Value 29,796.00
Cash Cap Reduction 6,839.00
Net Cap Cost 39,265.29
Amount Paid by Customer 6,839.00
Cash cap reduction $6839? Are you nuts? Let me ask you a question. If you get that MDX and give the dealer $6839 and the next day your car is totaled, guess what? You are out that money. Never ever put any more down than first and DMV fees.
This special was from their website for 7500mi/year
Posted it here just for comparison, but yes I do agree.
I got the numbers below straight from Acura site:
Website
SH-AWD Base 2019
$439/mo 10k miles
MSRP $47295 (includes destination)
NET CAP $42290.88 (includes $595 acquisition)
Total monthly payments $15804.00
Option to purchase at end $29322.90
due at signing $3299
Looks like the dealer special is very similar to theirs.
Acura site: $439/mo (10k miles)
Dealer site: $339/mo (7.5k miles)
Acura has 2.7k lease cash for tech package in October, you can find this on Edmunds.com Acura forum. It’s not listed anywhere in your offer. Lots of room to do better deal, IMO.
Got another quote for 2018 SH-AWD with Tech Package
MSRP: 51,595
Discount (includes 2950 incentive): 6,500
Selling Price: 45,095
MF: 0.00025
Residual Value: 27,345.35 (53% ?)
DAS:
0 - $580.83
500 - $566.78
1000 - $552.72
Does math look ok and they just need to come down on the selling price?
There was another thread today on taxes for leases in Chicago. Turns out they are really high (see article below). You want to know for sure if all taxes are included and not be surprised that say, Chicago’s 8% tax isn’t included in lease price but is due after the fact.
hard to believe before lease cash, the discount is only $3550? Definitely have some room to negotiate.
Any deal that can’t beat Honcker I personally consider it’s not good enough. Just ran MDX Tech package on Honcker gave me monthly payment 496 and $3050 DAS, 1st month included.
I did math on what they provided and came out to $546.94. Did I do it correctly or are they off?
MSRP: 51595
Discount: 6500
Price: 45095
Tax 7%
Purchase option amount: 27345.35
MF: 0.00025
RV: 53%
Net Capitalized Cost: 45095 (51595-6500=45095)
Residual Value of the car at end of lease: 27345.35 (51595x53%=27345.35)
Depreciation Fee: 493.05 (45095-27345.35=17749.65, then divide by 36month)
Financing Fee: $18.11 (45095+27345.35=72440.35 x 0.00025)
Sales Tax: 35.78 (493.05+18.11x.07)
Total payment: $546.94
Sales price is not necessarily cap cost. I’m guessing you’re missing the fees (gvt, doc, acq) from above. Once you add those in their number makes sense.
And you are right - only way to get it lower now is to ask for more of a discount. Probably not much room left there. ~$7k off seems pretty typical for an MDX recently.
Taxes are wrong if you are truly registering in Chicago. Whats the zip code you are registering in?