Went into a dealership in MA (zip: 02703) today for a 2022 Honda Odyssey EX-L. I have gone on Edmunds and the current MF is .00140 and residual 61%. I currently have a 2019 Acura MDX lease finishing in February and they offered 34k for the trade (my payoff on the lease is $28k).
This is how the dealership structured the deal:
Net Sale Price: $40935
Doc Fee: $459
Sales Tax: $2589
Sale Sub Total: $10153
Total Amount Due: $37956
Over mileage: $0.25
I have tried to run these numbers in the LH calculator and they seem to be off. It seems that they are not budging on the MSRP but are subtracting the trade from the final cost everything rolled in. I asked what is due at signing and he said it’s $0 DOS. I’m not sure if this is a good deal or not. Any advice would be appreciated.
Thank you for your response. I called Acura and can extend lease by 6 months or I can buy out for the 28k. Third child coming in February and would like the extra space. The chip shortage has not been helpful to local inventory and they don’t seem to budge from MSRP.
I leased a ‘20 EXL res/NAV back in Aug. of 2020, true $0 das and pay $455/mn. You will find nothing like that now. I’d extend the current lease. $6k is a big premium to pay for space imo, but it might be worth that much to you.
Have you checked how much of the equity You really have on Your MDX?
It might be much more than the dealer told You.
Also I would separate those two transactions,
In current crazy market dealers are chasing for used cars. We all know that Acura/Honda stopped 3rd party buyouts but You can still sell it for the profit without buying it.
If anyHonda or Acura dealers will not want play a ball I would go to KBB and get cash offfer from multiple dealers. You need to tell them that this is lease ld car.
For sure You will fond one who will play the ball.
I hope this list will help.
Thank you. That is very similar to my last lease and I know I won’t find another deal like it. Agree- $6k is too much to pay for space (it would be more comfortable, but not essential). Hoping to find something better than the last offer and extend the lease as a worst case if nothing works out. Hopefully not just kicking the can down the road.