@mani_is_kool brokers Acura in FL, check with him
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Are you sure since payoff is at end of the lease term which is in future ( 6 months to go ) so am I not liable to pay remaining payments ?
The remaining amount you owe is built into the payoff. Itās one of the reasons the payoff number changes throughout the course of the lease. The payoff number you see now isnāt the same as what youāll see on your next statement.
Cool , something new I learned today !
The residual value is at the end of the lease term, but the current pay off is for now (and is also a good bit more than the residual value, as one would expect).
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I am trying to decide what to do right now.
I was offered by my dealer where i leased my 2019 MDX Advance, to return my car 9 mo. early without obligation and fees. Iām assuming because of the recent increase in used car prices and sales due to the inventory shortage. They have offered me a lease deal in a New 2022 MDX Advance at Mrsp 62,175 with loyalty $1000 and $2000 in equity & @0.00114-2.736%apr. We have 860+ credit scores. (Iām thinking of calling AFS to see if we can get a lower qualified MF, like the one we have now. Dealer says luxury lease not available)
The buyout is $39,600 if we buy it. Considering buying it and selling on our own and just lease another right out.
Or
Keep it until April and see where situation is at that time & buy out then at 33, 800.
Or re-negotiate a new lease at that time.
I had to negotiate for more equity as i so my homework and know how leading works and lease terms. They only gave me $1000.00 they just approved the other 1000.00 today. Am i still leaving equity on the table?
Should mention our MDX Advance only has 14,900 miles and is like new. Its clean & top condition. Carfax 43,300
Any advice?
What did edmunds give you for mf when you confirmed rv/mf/incentives?
Iāll check again, but if i remember right, you put in the MF yourself in the lease calculator, and i put in the one they gave me.
Are you talking about the lease calculator or the new car pricing ?
So if i sell my lease to carfax at 41,300 or vroom 41,900 and the dealer payoff is 36,000 and my payoff is 39,000 (all approx) how much difference am i getting a check for? The difference between their payoff or mine?
My dealership is offering me to return 9 mo. early and giving me 2000.00 equity toward a new 2022 36 mo now.
But im thinking of selling it off and just leasing a new 2022 mdx or similar straight out. If the numbers are in my favor.
Are you located in FL ? difference should be dealer payoff and carmax/vroom number like you said dealer is getting equity of around $5000 and if he sells to third party he could get more profit. So giving you $2000 is less I think. I would say better wait as I am also in same boat where dealer buyout is $31K and carmax is giving me $37500 and I have time until December where final dealer buyout will be $29K but I donāt think value of MDX will go down too much in 5 months or so. Also Type S coming so hoping A-spec or advance models might have some discounts towards end of the year.
You said you were going to call AFS to see if better mf was available. Mf is predetermined by the bank, although the dealer may mark it up. The best mf youāre going to get is current buy rateā¦ afs isnāt going to offer you a lower rate. You should always start by verifying what buy rate is so you can determine if the dealer is marking it up or not.
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Yes im trying to find the buy rate to see if that indeed is what the dealer is doing. I donāt need a new car right now we only looked into it because the dealer offered to turn in early without fees. But really the only fee there would normally be is early termination fee, which we were not planning to turn in early, and the acquisition fee which they are still charging me on the new lease anyway.
I know Iām not having to rollover the remaining payments as well, but like i said i wouldnāt normality do that anyway.
Iām not seeing the advantage for me to turn in early. I see theirs though lol
Having current, accurate information for residual value, money factor, and incentives is important in understanding your deal. As such, going directly to a source that has access to that data from the captive banks is your best option. The forums at Edmunds are where we go to get that information, as they have direct access to it from the captive banks. Youāll want to post in the model specific thread for the vehicle youāre interested in and request the most current numbers for your zip code. It is often easiest to find that thread by searching Google for āEdmunds leaseā followed by the model of vehicle youāre interested in.
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Advertised Purchase finance rates are 1.9% but dealer says not for lease. Lease rates and mf not posted in fine print on current advertised lease deals. Only a monthly payment on an example mock up purchase price on a base model. I know mfās are preset. Just trying to see if dealer marked up on the dealer worksheet they sent me.
Yes, purchase finance rates are irrelevant in a lease conversation.
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Thank you for the info. I have been doing due diligence. Iām always well informed before negotiations. I know all current and correct numbers on this vehicle, equity, what its going/sold for, NY laws/fees etc and what Iām looking at on the dealer disclosure. Iāve been back and forth with them on equity and fees and transparency. Called them out on a few things they didnāt know i knew. Of course they are trying to keep as much profit as possible and im trying to get as much off as I can, that is how it works.
This isnāt my first lease or purchase. Iām actually pursuing 3 different car deals. Negotiations are not easy right now. But Iām giving it my best. Under normal conditions i go in with knowledge and i always work on OTD price not monthly payments, tell them little information and reveal nothing until a price is worked out. Itās nice to deal from home as much as possible.
Its crazy!
Iām just having a hard time finding if there is a lower mf than 0.00114 through Acura. Everything else I know. Then itās just deciding if i want to do the lease deal or hold till April or sell lease to 3rd party and lease or buy a smaller crossover.
I will say my dealership is one of the better ones in my area in Long Island they arenāt gouging prices over MSRP or ghosting buyers. They have been more real about the chip and car situation and are on the positive side. Maintenance had been great. I would lease from them again. Just looking for best decision right now and making sure im getting the best MF rate i can.
I know. Different deal
The first step in doing you due diligence is verifying rv/mf/incentives with edmunds. That will answer your mf questions.
Long Island New York