Hey Team, just wanted your opinion on this deal as vehicles are very rare to find now a days.
2022 MDX Technology Package
Phantom Violet Pearl with black interior. No other option.
15k a year for 36 months.
Giving them my 2019 MDX which lease expires January 15, 2022. No payments left. They’re essentially buying the vehicle.
Drive off amount is $1225
$737 a month with everything rolled in
Residual 58%
MF .00101%
MSRP: $55k
Taking off $2500 (essentially they’re buying my 2019 MDX and giving me the “equity” towards the new vehicle)
Selling: $52500
I’ve ordered the vehicle and it should arrive this week. I’m ready to walk away from the deal and extend my current lease because these monthly payments are very high. My current 2019 MDX has a buy-out of 28k + tax.
Your payoff is $28k, Carvana is selling these for 40k and you think a measly 2500 is worth it? You might want to see if another dealer is going to give more than $2500 to take this off your hands.
A theoretical number though. Things could change in the 30 or so days it takes to get a title. I don’t disagree with you, however, he’s going to carry some risk too.
Carvana offered $33k but Acura won’t allow 3rd party buy-out. I’d have to buy which would then cost me about $30k with NY tax and then go through the entire process within 30-40 days and I may clear some profit by then.
I know for a fact that I can make more money on my current vehicle. But I need a replacement first before I sell this one. It’s my wife’s vehicle so we’ll need a replacement first.
I told the dealer somehow some way make the payments $650 a month by either giving me more for the 2019 or lower your selling price. I can live with that but JESUS these prices are ridiculous. I might get pissed off and just buy out my lease and keep the vehicle for 2-3 more years.
If Carvana is only offering you 3k over buyout, and the current dealer is offering you 2500, I’d skip the hassle, headaches and possible loss in value while you wait for the title for 500 bucks. That being said, I’m sure you have other Acura dealers in your general area to try and pawn this off on for more too.
That might not be a bad plan actually. It’s a Honda, so it’ll keep it’s value better than others when the used car market stabilizes, and it’s likely not going to fall apart. It would likely be better than overpaying for something new right now in addition to general terrible lease programs.
If you’re considering doing this, why not just buy it out and then leisurely keep an eye out for good options moving forward. You’ll be positioned to easily sell this vehicle at a moment’s notice and you won’t have to actually jump on a deal you aren’t comfortable with.
