Greetings all! I’m looking into my first lease and having trouble finding where the difference is between what the dealer is providing vs what the calculator is giving me. Here are the details that the dealer has shared with me so far:
Vehicle: 2022 Acura MDX SH-AWD with A-spec package
Sale price: $59,445.00
Terms: 36 months/10k miles
Money Factor: .0008
Residual: 65% (this is from my online research, the dealer didn’t give me this number)
I will add a picture of the sheet as well so you can see the other fees, etc. I’m also trading in where they are giving me 16k and I have a 15,100 payoff left so a net of $900 towards the transaction. Obviously, I’m missing something because the calculator is giving me $706 (for 12k miles a year) but their numbers are $864-879 with only 10k miles a year. I don’t plan on keeping the additions they made to the sheet but I know an extra 1600 is not causing this disparity. There is also a 1k loyalty rebate that should be applied since we own another Acura. I would love some help seeing what I’m missing here. Thanks!
Are you sure the residual is correct? I don’t know your zip, but, when I skimmed the Edmunds forum, the high RV I saw for an MDX (which was also an A-Spec) was 60%.
I would also get comparison quotes for selling your car, since you might be leaving a lot of equity on the table.
As far as the $1K loyalty, I wonder if that + trade in is how they got a $1900 drive off (and down payment). It looks like they’re folding TTL into the monthly lease cost?
Yeah my residual has to be high. I didn’t know reliable places to get those numbers but you seem to be correct via Edmund’s forum. With a 60-61 rsv it’s still calculating sub 800 though.
Also the trade-in is actually pretty solid (I think) due to the infotainment system being defective and there being some slight bodywork that needs to be done. I would have to have some work put into it to get the radio fixed before that value would come up much more I think
That’s a lot of money for an MDX. Most likely, @aronchi is correct (he is an Acura broker).
I would get all information from the dealer and use the recommendations in LH 101 on putting together a good deal (which in these days is anything under MSRP).
the sale price likely includes your F&I (the oil change thing is worthless). It’s unlikely your trade is worth $900 over payoff. I’m sure there’s a few thousand in it.
This is very helpful. Thank you! My issue with the trade-in is that the infotainment system is basically non-functional. It just freezes on the loading screen. They came in at 14,500 initially then bumped it up to 16K when I was hesitant. Any tips on negotiating this or would you say it’s a hard pass?
it’s not my place to comment. there isn’t a single dealer who is truly at msrp on mdx to retail customers in the northeast. hell, at my numbers, i’m near msrp on the truck (despite no inventory). theyre obviously making it up on the trade, big-time.
Would it be hard to get other quotes on your current car? Yes, I get that there’s a lot of problems w/ it. But used car prices have been insane. You might be surprised. And, if not, at least you’ve done your homework, in that regard.
