Didn’t qualify for new 2021 RDX conquest or loyalty so I went after a 2020 demo in the exact color and specs we wanted. The actual sheet doesn’t match the calculator exactly but it is almost on the numbers. The dealer rolled in all costs, and our drive-offs include first month plus $625 cap reduction. I’m super satisfied knowing this is my second solid deal that I learned how to do through Leasehackr.
Note: it was impossible to get guidance on Acura’s demo leasing factors. The dealer was awesome to share the reduced money factor upfront and their residual percentage. Nobody online had that info.
The MF isn’t affected, that’s standard. Anyway 16% is a good deal congrats, I was targeting a little bit more on an A-Spec demo when I was hunting in January but the boss told me to stop looking for another used Honda Congrats!
Yes you’re right - credit to you for giving me that formula! It put me in range so my offer to the dealer was really close. I’m just saying I couldn’t come up with exact numbers that they used for their sheet. Also have no idea how they applied the reduced money factor. That was a great bonus! Thanks again everyone.
I was assuming 61% residual on the base 2020 from Edmunds info. That was what I had proposed to the dealer in my calculation, then they said the RV is reduced according to Acura & mileage on this vehicle to 59.15%. The mileage on the car is 3567.
PS - I may have gotten excited and posted too soon. I will update everything with actual contract in hand to help answer all questions and add more value to LH readers.
Final numbers are in, picked up the car on Friday. Side note: The RDX is really impressive and better than I hoped to achieve in our price range. Super satisfied!
Year, Make, Model, and Trim: 2020 Acura RDX Base. Demo unit with 3593 miles.
Selling Price: $32,950
Monthly Payment: $371.89
Drive-Off Amount: $1000 includes 1st month payment
Annual Mileage: 10,000
Residual: 55.286% (Still can’t figure out the formula for mileage reduction on this. Will inquire with dealer, but the numbers look good in my favor vs. how I was told to calculate it.)
Incentives: none direct to me. Not sure if dealer received any.
Leasehackr Score: 9.4 years
Note: I can’t get the memo to update in the calculator. Should look like this:
Actual payment = $371.89, Selling price = $32,950 (16.8% off new price) This 2020 RDX had 3593 miles (on contract) as a dealer demo. Acquisition fee of $595 rolled into selling price.
OK friends - Final update on the 2020 RDX Base Demo lease. After I signed and picked up they contacted me to say they calculated the mileage reduction wrong. They confirmed a .10 per mile instead of .20 that was in the original contract so they sent me a new set of paperwork with a now lower payment.
They still didn’t confirm the starting residual value, but from the math it seems low - in the 57% range. After the mileage deduction we are at 56.15. Thanks again to user chrishs2000 who had the right info on mileage costs. LH rules!
Still incredibly satisfied with the deal and a few more bucks off monthly made it sweeter!