Hey guys, I’m new to LH and new to leasing as well. I’m looking to lease the New 2022 Acura MDX A spec towards the end of this month. What sort of payments am I looking at for a 36 month15k miles a year lease? I currently own a 2019 TLX apsec v6 with $26k owe but car worth $29k how do I avoid getting screwed on my trade in? Vroom offered close to $29k a month ago but I don’t won’t to sell my car until I get approved for a new one. I’m in Illinois. Where do I start?
You’re going to be massively overpaying if you can’t wait til the new MDX gets discounted
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With a different vehicle. It’s likely to be 12-18 months before this is a reasonable lease candidate.
With that said, it is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator, and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
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Edmunds forum mods don’t have numbers yet. A couple data points were reported by users.
You should sell that TLX ASAP if vroom offered you 29k. These things are retailing below 32k on the used market for same year and trim. I don’t know anyone else who will give you 29k.
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Agreed, though perhaps spend some time reading the Vroom thread as they can be inconsistent in how easy the process is, it seems.
So like I said Vroom actually offered over $29k for my car, pic attached. But I’m not expecting to pay $500 a month on a 2022 model vehicle or anticipating massive discounts. I anticipate on buying the vehicle after the lease is up.
Don’t worry, you’re going to spend a lot more than that on a 22 mdx
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If I do I earn enough to cover whatever it amounts to.
And?
If you want an mdx, that’s cool. You’ve been given the framework for establishing pricing. The value proposition on them right now is horrible and it is an inferior vehicle for what you’ll get for the dollar. If you’re heart is set on it and you don’t mind needlessly lighting money on fire, go nuts.
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Take the following numbers from user posts on the 2022 MDX thread on Edmunds forums on the assumption they will also apply to your location, and enter them into the LH calculator:
MSRP
selling price
RV
MF
Then add the government fees and tax for your location
Why are you leasing if you plan on owning long term? May as well finance to get some principal paid down. I don’t think there will be enough discount or incentives to make lease to buy make sense.
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The lease on them right isn’t going to be attractive since the car just came out.
No incentives other than $1,000 loyalty or conquest.
.00112 MF. Residual actually isn’t terrible. 62% at 15K Miles.
Assuming you covered your inceptions upfront your talking mid to high $600’s. Everything rolled in your in the $700’s.
If the following is correct then it’s 61% for 36/15 on a Tech AWD
Just got 2022 AWD Tech Liquid Carbon for .00112 MF and 65% RV and $0 down for 7500 miles / 36m yesterday. The MSRP was $55,125 but negotiated the price down to $52,700 (includes the destination fee). The RV for 10k and 12k was 64% and 63% respectively.
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He’s looking at an A-SPEC not a tech. different residual
Good point.
Thanks to those who actually stayed on topic. As previously mentioned I have no experience with leasing or even understand how everything is calculated. I’m alittle disappointed that I may not be able to lease this vehicle at a price that makes sense at this time. Would hiring a broker to neogiate a deal be worth it at this point? As I mentioned before I have a 19 TLX A spec that I owe on that I really want to get out of because the model was just redesigned and I’m expecting the resale value to drop drastically. At this point not sure what to do.
Side note: I rented a 2020 Toyota Venza this past weekend on my trip to Atlanta. That car was really impressive, the handling and ride quality was phenomenal. It was a hybrid only spent $11 total for gas.
All the tools necessary to address this and give you a solid foundation were spelled out in detail in the 2nd reply to your question
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The 22 mdx is a lost cause as far as leasing value for at least a year imo. A broker can’t change that.
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Take the buyout, as you said its going to drop in value.
Turn around and lease a the $3xx camaro…
ENJOY!
On a serious note, figure out whats important. If you need the size of the MDX now, but dont want to pay the initial adopter tax, then find similar class vehicles and price em out (heck the 20 MDX would be a good hold over, since you’d get loyalty and if you want to pick up an 23-4 MDX you’d get the same again). If not, then just wait it out a year. Yes you might loose value on the current TLX but you dont have to get into something your not interested in.
Does not hurt to consult a broker or a dealer here, but the consensus seems like the deal is not happening, at least until the 2020s have disappeared and the 2022s are in full inventory.