Sorry this is my first lease, how should I be reading it?
It is for running boards, roof rails, cross bars and hitch, can probably get it less after market but is it worth the hassle to put them on and then remove at end of lease?
Itâs not incorrect. Itâs for people who want to buy (not lease) the car.
Dealers are apparently lazy and wanted software that could display one sheet to both purchasers and lessees. This is like the millionth time someone has asked why their lease quote includes tax on the vehicle price instead of on the lease cost.
but I am leasing the car no?
Oh ok, I see, the tax is for the purchase price, but I am paying the prorated amount monthly in my lease payments
No, you pay tax upfront on all the monthly payments. You can cap it if you want, which is what the dealer did.
Below is the calculation I got.
You decide how much money your time is worth. Can probably save a thousand bucks or more for 2-3 hours
Do you even need a hitch? Or running boards on a crossover that isnât even that tall?
Thanks guys, perhaps I donât need the options.
I think I finally understand how to use the calculator. The dealer offerred me 5K more for my trade in then my highest previous quote (he says due to a mistake, and in my research this is correct). If I get rid of the options and apply the 5K extra I saved due at signing then my lease payment goes down to $412/month. Even if the premium was 3K then my payments would go down to $479.
Thanks for all your help, I will stop asking any more questions.
Why do you keep entering $0 for the acq fee? And I think itâs a terrible idea to pay that much upfront, but itâs your money. Enjoy.
You need to remember, if you drive off the lot and get into an accident where the vehicle is totaled, you lose your $3K up front payout. Insurance WILL NOT reimburse you. This is why everyone here stresses $0 down. Youâre putting yourself at risk.
Have you had one before? I have it in my QX60, came with the car. So far, I am not too happy with it. The car isnât high enough that you need the extra step, so 99.9% of the time, we donât step on it on entry or exist. But it sure make pants or lower leg dirty. MDX is lower than QX60, so I think the chance of using it is even lower.
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To clarify, I will be putting $0 down, with my last post I was just trying to show the advantage of me going with the dealer that is giving me the extra $$ on the trade in
Also the reason I am putting $0 for the aquisition fee is simply because I cannot figure out another way for the payouts on the calculator to match what the dealer quoted
Lastly unfortunately I donât need the running boards, but I want them right now as they make it so my young kids donât need to struggle everytime they get into the car.
IDK how âyoungâ your kids are, but how long will those running boards realistically be used? If they are little enough that they would use them the entire 3 years, maybe itâs worth it to you. If theyâre going to not need them in a year, is it worth paying for them vs you helping them get into the car for the next 12 or so months?
I did this deal this week, seemed like a good deal so I took it. Only lease payments are taxed in my state.
MDX SH AWD with Tech Package
MSRP ~51,595
Monthly Payment all in $529
Tax was 7.25%
Due at signing: first month ($529) plus title and doc ($390) minus a payout on old my lease (-$600)which came out to ~$300 due at signing
36/12k
@Dadoftwo, that looks like a great deal. How many miles per year and what was your selling price and RV? Assume your MF is 0.0005.
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@wrxdev
12,000 a year
Selling price 44,080
RV: 28,380
MF 0.0005 (supposedly but not on the final contract)
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I know this might be a little late but the tax on your deal was wrong. In NJ you only pay tax on lease amount and since you were trading in a car for 13500 the tax shouldâve been negated for the first 13500 of the lease price.
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Thats a killer deal you got!
But I got $44200 selling price yet my monthly payment is $506(zero down). How come you got $529?
I literally told my dealer do 1% rule .