MDX 2018 with tech package! How I did it?

[obiHai]

why dont you send me your contact info and I will forward you the dealership and salesman contact?
atleast I conquer the 1% rule but still its not going by hackrs book.
10% off msrp and then incentives

[obiHai]

@Chi_Ahrens

That’s pretty good. The Trucar price that I’m getting for the AWD MDX w/Tech are 47340, 47608, 47159. Out of the three dealerships, one of them actually gave me one price for sale, and another price for lease. The lease price is 2200 less than the sale price. So it looks like they’re willing to pass on the $2200 factory-to-dealer lease incentive to the leaser, but keep the $750 deal cash for themself. The other two aren’t giving me a straight answer. They haven’t flat out said that they aren’t going to pass down the savings, but they want me to come in.

The good news is that wife has narrowed down the color that she wants to either white or lunar.

why dont you send me your contact info and I will forward you the dealership and salesman contact?
atleast I conquer the 1% rule but still its not going by hackrs book.
10% off msrp and then incentives

[Dadoftwo]

Is a .0005 MF on the low end for a MDX or comparable cars?

[xaximus]

Reach out to @nyclife for a quote on an MDX. There’s definitely more leeway on your selling price. As before, 10% off is a good deal. I would cast a wider net instead of staying in NY alone, NJ is a hop and skip away and it’s well worth paying $10-$20 in toll to save $. You dont need to get the car serviced from the dealership anyway. Even if you do, besides oil and basic maintenance, I count 3-4 visits over the term period. There is definitely money on this deal that you are leaving on the table.

[obiHai]

I did, all the brokers says its good deal they cant beat, infact there was $3/m inc with others quote.
NJ stealerships are notorious for inflated fee, while in NY Its zero! Big difference. Zilch ,nada
Expect 1st month and aquisation fee.

[xaximus]

I agree that NJ dealerships do have inflated fees but those can be worked over. As before, it’s objective. If it seems like a good deal to you, then regardless of what anyone on here says, it wont change your mind unless someone specifically has a better price currently that is beating yours. Brokers wont take the time to do the legwork to get a better price when you seem “happy” with your price already. As before, if you like it at that price, buy it. If not, then as others have said, there are better deals to be had.

Good luck.

[Chi_Ahrens]

This is what I ended up paying at my local dealer yesterday in SoCal. $43368 sale price on $49595 MSRP with all factory to dealer incentives applied (13% off total); MF 0.00050 and 56% residual for 36/10k.

I used Trucar to get the purchase price, and then had to spend a couple of minutes to convince them to give me the $2200 lease incentives. I told them I was being generous to let them keep the $750 dealer cash. He had to go “talk to his manager” for like 5 minutes, but gave me the deal. In and out in 90 minutes.

Leasehackr Calculator

[mung35]

Looks like it’s about equivalent to a $565 sign and drive

[obiHai]

I am paying $507 + $595=$xxx to drive off. Zero fee.

[obiHai]

@Chi_Ahrens

minutes

Seems like great deal of time saving doing the haggling or negotiations. You save time and money! Did you pay down payment? Peers say never pay down. By the way great job indeed!

[Chi_Ahrens]

I put down about 2700. Total drive off with fees and everything was 4,611. Yeah, I know that everyone here says don’t put anything down, but we actually have a budget, so the only way to keep it on budget was to pay some money up front. Would I have been better off buying 4 more shares of GOOGL? Of course. But there is some risk mitigation to think about. If the market crashed, recession hit, and I lost my job, it would be a little easier to make a $400 lease payment than a $500 lease payment.

[mbchest]

@Chi_Ahrens

but we actually have a budget, so the only way to keep it on budget was to pay some money up front.

This doesn’t make any sense. There is no financial savings to you in paying $2700 now, or paying an extra $75 a month for 36 months in a row. It’s the same amount of money. If you have the cash to put down now, then you have the same ability to put it aside, and split into 36 monthly installments.

@Chi_Ahrens

But there is some risk mitigation to think about. If the market crashed, recession hit, and I lost my job, it would be a little easier to make a $400 lease payment than a $500 lease payment.

What if you drove off the lot with the car, had an accident, and your car was totaled? If you hadn’t put anything down, you’d have an extra $2700 in your pocket. How’s that for risk mitigation?

[4sallypat]

Isn’t the new 2019 MDX A Spec out now ?
My dealer called me this week to tell me I can see it.

So the 2018 will start dropping prices soon ?

[Chi_Ahrens]

@mbchest

This doesn’t make any sense. There is no financial savings to you in paying $2700 now, or paying an extra $75 a month for 36 months in a row. It’s the same amount of money. If you have the cash to put down now, then you have the same ability to put it aside, and split into 36 monthly installments.

You’re right. I just had some extra drug money that I needed to get rid of. My walls can’t just hold any more cash.

@mbchest

What if you drove off the lot with the car, had an accident, and your car was totaled? If you hadn’t put anything down, you’d have an extra $2700 in your pocket. How’s that for risk mitigation?

Again, you’re right. I should get insurance on my car as well as gap insurance. I’m so stupid.

[jamiemose]

@Chi_Ahrens

Again, you’re right. I should get insurance on my car as well as gap insurance. I’m so stupid.

If a leased car is totaled or stolen, your car insurance doesn’t pay you…they pay the bank since they own the car. Your insurance company wouldn’t write you a check to cover your down payment - it’s essentially lost.

[Chi_Ahrens]

@jamiemose

If a leased car is totaled or stolen, your car insurance doesn’t pay you…they pay the bank since they own the car. Your insurance company wouldn’t write you a check to cover your down payment - it’s essentially lost.

I did not know that. Thanks. I really feel stupid now.

[jamiemose]

That’s how it’s been explained to me at least - my previous lease was stolen and my adjuster explained the process to me, luckily the car was recovered. We had put down $4,000 between a trade in and CCR, and the adjuster said that lump sum would be lost if they had not recovered the car. Obviously, that was before I found out about this site.

That’s why pretty much every one on this forum highly recommends against any kind of down payment.

[28firefighter]

The only way you recover anything paid upfront on a totaled lease vehicle is if by some miracle you actually had equity in the car - that is the totaled out value was higher than the payoff amount to the bank; in that case they would send you a check for the difference. That rarely happens though - most folks are upside down on leases for the duration.

[cheapdad00]

One could say that if you did have equity in the lease, you picked a vehicle that doesnt lease well and were probably paying too much monthly because the manufacturer was not inflating the residual enough.

[mbchest]

I’m just trying to help you. Enjoy the car.