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Mazda3 Lease Questions

CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
edited January 2014 in Mazda
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Mazda3. Thanks.

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Comments

  • halo19halo19 Member Posts: 2
    Hi,

    I posted this in the general lease forum, but perhaps it would be better here...

    I'm looking to lease a 2005 Mazda 3 (manual transmission, 5 door hatch/wagon) for 24 months. What type of deal on a lease should I work towards or expect? I'm located in the SF area of California if that helps.

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello halo19. Yes, this would be a better place for this question. We are beginning to transition from one large lease questions discussion to many model-specific discussions. Mazda is not currently providing any sort of lease support on the Mazda3. As a result, you may find that you are able to get a lower payment on one by leasing it through an independent bank than you would be able to by leasing it through Mazda Credit. I do not personally follow the lease programs of independent banks, but I can tell you how to get a good deal. Negotiate the lowest possible selling price on the Mazda3 that you are interested in. You may want to stop by the following discussion to get an idea of how much you should pay for this car right now: "Mazda3: Prices Paid & Buying Experience". Once you have an idea of the selling price that you want to pay, it wouldn't be a bad idea to comparison shop with a few dealers to see which one provides you with the most attractive lease payment using that price.

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  • z71billz71bill Member Posts: 1,986
    The 24 month term will drive the payment up THROUGH the roof - not sure why a 2 year term is required - but if you can extend out to 36 (48 even better) you will have a much lower payment.

    I know that some very high end cars - Ferrari & Porsche - will be leased for 24 or even 12 months - but that is normally the super rich who just want the latest toy.

    Its been close to 20 years since I was in the leasing business - so I am sure my numbers are not 100% accurate - but on a $20K MSRP car your payment on a 48 month lease will run close to $350 a month - take that down to 24 months and the payment will be at least $500 a month. They will also try and squeeze the number of miles allowed per year down to 10,000 - many longer term leases will be offered at 12-15,000 miles per year - but like everything else its negotiable.
  • casandranowcasandranow Member Posts: 14
    Bringing this over from the Gen Pricing Forum:

    Just getting into the 3 pricing and whatnot, but I've been looking to lease. We only have one local Mazda dealership around here, and the salesman quoted me around $339 a month for a 3S Touring 06 model. That seemed REALLY off to me for a 48 month lease, considering for a Cobalt, which was just around $1000 less the monthly payment for the same term was less than $230.

    I wanted to see if I could find the Money Factor and residual so I could compute the lease price myself but I'm having no luck. Any suggestions on the next course of action here would be very appreciated.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi casandranow. The problem with leasing a Mazda3 is that Mazda is not currently providing any sort of lease support on it. As a result, the lease money factors that you would have to use to calculate your car's monthly payment are fairly high, around 7.5% for consumers who qualify for Mazda's top credit tier. These rates seem especially high when they are compared to the special lease rates that are available on a number of other models, like the Chevrolet Cobalt that you mentioned. If you were to lease a 2006 Mazda3s Touring Sedan through Mazda Credit right now for 48 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00315 and 42%, respectively.

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  • crg4crg4 Member Posts: 8
    Car_man,

    How would these numbers, the residual and money factor, change for the same car - an '06 Mazda 3s - for a 36month/12k/yr. lease?

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey crg4. Unfortunately, the lease program for a 36 month lease of this car isn't any better. According to the latest information that I have seen, if you were to lease a 2006 Mazda 3s through Mazda Credit right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00315 and 57%, respectively.

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  • hoyzhouhoyzhou Member Posts: 1
    Hi, I recently leased a 2006 Mazda3 Touring (4dr) with .00225 money factor and 54% residual value for 36mo/12k mile per yr. and monthly payment came out to $292/mo. How's this deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hoyzhou. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion on the deal that you got if you let me know what these numbers are.

    Car_man
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  • d_r_gd_r_g Member Posts: 1
    Hi Car_man,

    Could you please help me find out the latest residual and money factor numbers for a Mazda3s Touring 5-door automatic, for 12K/yr and 36, 39 and 42 months? Trying to help my sister decide what she can afford to lease ...

    Thanks,
    David
  • deejay2099deejay2099 Member Posts: 36
    Car_Man,
    I have an offer from a dealer for the subject car of $17484 (base car with Auto and ABS), MSRP is $19365. With that in mind what should I be looking at for a 39 month lease with $0 down and 12K miles?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi David. I'd be happy to help you out. If your sister was to lease a 2006 Mazda3 Touring 5-Door through its captive finance company right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00315 and 52%, respectively. As you can see, it does not have a very attractive money factor. I haven't seen any info on 39 or 42 month leases of this car, but I can tell you about its 48 month lease program if you would like.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings deejay2099. According to my calculations, if you were to lease a 2006 Mazda3 S 5-Door with an MSRP of $19,365 and a selling price of $17,484 through Mazda Credit right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $293. I worked up a 36 month payment for you because I don't believe that Mazda is offering 39 month leases on this car right now.

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  • murphy123murphy123 Member Posts: 10
    I am coming off a three year lease on a 2003 passat.

    I have read so much good about the MAzda3

    yet my emails to dealers asking for lease deals have gone unanswered.

    Is there any way to get a good lease deal on a MAzda3 (like the ones offered on jetta/passat, even saab 3 and audi4)

    should i wait until after jan 3 (when all the current manufacturer deals end) for better deals in jan...does history show greater incentives in january?

    thanx
  • mazda6smazda6s Member Posts: 1,901
    The Mazda3 is selling very well so I wouldn't hold your breath for a good lease deal.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi murphy123. Unfortunately, Mazda's current lease program on the Mazda3 is not nearly as attractive as the leases that Volkswagen has been offering on the Passat, Saab has been offering on the 9-3, or Audi has been offering on the A4. Given the lack of lease support that is available on this car right now, it couldn't hurt to wait until after January 3rd to lease one. Its lease program can't get much worse. I certainly would finance or pay cash for this car rather than lease it right now. As the previous poster said though, don't hold your breath for an unbelievable lease on this car.

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  • murphy123murphy123 Member Posts: 10
    Carman,

    Thnaks very much for your frank appraisal of the MAzda lease program. I will watch for developments this month...but won't be holding my breath!

    Cheers
  • charlotte7charlotte7 Member Posts: 144
    Car_man, I am looking for the residual and money factor (top-tier money factor if possible) for a 3 year, 12K mile a year lease on an 05 Mazda5 Sport with auto transmission. (I'm comparing this to the Escape lease offer going on now--I test drove and liked both vehicles). Also, if you know how much Mazda's various lease fees were, that would be useful too.

    I don't see a forum for Mazda5 lease questions, so please pardon me for posting this here. Thank you so much for your help, and pointing me on to some good leasing resources on Edmunds.

    Charlotte
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, murphy123.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Charlotte. I guess that we don't have a Mazda5 lease discussion yet, do we? Let's take a look at the current lease program for the vehicle that you are interested in. According to the latest informaiton that I have seen, if you were to lease a 2006 Mazda5 Sport through Mazda Credit right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00315 and 51%, respectively. When negotiating your lease on this vehicle, keep in mind that Mazda is providing $1,000 lease cash on it this month. This money will help you to negotiate an attractive capitalized cost. As far as Mazda's fees on leases go, the last time that I saw it, its acquisition fee was $475. In addition to that, you would have to pay a security deposit. I don't believe that Mazda charges a disposition fee.

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  • charlotte7charlotte7 Member Posts: 144
    Thanks so much, Car_Man! The $1000 lease cash is great, and I have Mazda's S-plan, too, which I assume I can use in conjunction with the lease cash in negotiating a capitalized cost, right? This may work out well, I hope.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, charlotte7. Yes, you should be able to use the S-Plan pricing as your car's capitalized cost if you decide to lease.

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  • carcutiectcarcutiect Member Posts: 2
    Hello, everyone!
    I'm hoping someone can help me out: I am considering a 2006 Mazda 3i 4door sedan w/ touring (white/tan gut :shades: ). The local Mazda dealership (Partyka Mazda in Hamden, CT) told me about Mazda's AVP Plan (Assured Value Plan). Evidently, it's somewhat like a lease agreement but I will own the car -- it is in my name.
    Does anyone know anything about this plan? What are the pros and cons?
    Thanks!! ;)
    -CarCutieCT
  • aviboy97aviboy97 Member Posts: 3,159
    CarCutieCT, I am a CT dealer as well. I can shed some light on the subject for you.

    The way you pay for the vehicle, it sounds like a lease, but it is not a lease. It is a finance. Your monthly payment is like a lease, and you do have mileage restrictions. i.e. 12K or 15k per year.

    Pro's are you do not have to pay a bank fee, security deposit, acquisition fee. Also, the vehicle is registered in your name, so you may get an insurance break. You may trade this vehicle in at any time, unlike a lease, where you may have to go over your contract to see if you can do so. At the end, you can pay the "balloon" payment if you choose to own the car out right, or finance that balance, or just turn the car in. If you are over miles, I believe it is 18 cents a mile.

    Con's are not that significant. You do pay more over time as opposed to a general finance. You also pay sales tax on the full amount of the car, as opposed to just a portion like a lease.

    I think I about covered it, I may have left a few out, but, I believe I listed the major ones. I hope I have helped you.
  • audia8qaudia8q Member Posts: 3,138
    Aviboy did a good job of describing the basics of the AVP vs a lease.....but I have a question:

    Why not just buy the car? If the answer is "thats the only way I can afford the payments" you need to review closely what your doing and get a complete understanding of the contract your about to sign.
  • gambo384gambo384 Member Posts: 2
    Hey, Here's what's on the table for me. I can lease a Mazda3i(touring) for $174/month for 24months/12k per year or $205 for 36 months/12k per year. Buying the car would be around $270/month. I would like advice on buying vs. leasing and if leasing, which term ?? Here's some info, MSRP of the car is $19,200. I am using my S-Plan pricing so that brings the car down to around $18k. I will be putting down $4500. What do you think??
  • slate1slate1 Member Posts: 84
    If you finance at $270/month for 5 years you will have invested an additional $8,820 in payments over leasing at $205 for 3 years:

    $270/month for years 4 & 5 = $6480
    Additional $65/month for years 1 - 3 = $2340

    According to Edmunds "True Cost to Own" estimations, your $19,200 car would be worth $8256 at the end of the 5 year term if you buy.

    So, essentially, if you lease @ $205/month for 36 months you will have invested a total of $11,880 and have $0 in equity once you turn the car in.

    If you buy at $270/month for 60 months you will have invested a total of $20,700 and have around $8200 in equity in your car remaining. However, the price of that $8,200 in equity has been the additional $8,820 you've paid over years 1 - 5. So, you've basically got $0 (or, really -$620) in equity at the end of the buying period as well.

    What it really boils down to is how long you want to be tied to a particular car and, especially, if 12k/year is going to be enough for you. I always buy my cars because I don't want the mileage restrictions and, mostly, because I tend to keep cars for 8 - 9 years.
  • aviboy97aviboy97 Member Posts: 3,159
    Only finance if you plan on running the car until it has well over 100k miles. So, that would equate to 7-11 years, depending upon the mileage you drive.

    If you feel the need to have a new car every few years, lease, or else you stand the chance of being in an inescapable negative equity situation if you finance, and get a new car every few years.
  • gambo384gambo384 Member Posts: 2
    Basically, I am looking to lease because it will give me a few years to stock pile some money. If I buy now, I can afford the $260 per month, things would just be a little tighter than I prefer. I'm looking at the 2 or 3 years as a period to save while having a low payment on a brand new car. Also, I anticipate buying the car after my lease is up and keeping it for 5-7years....Thanks for the advice guys, keep it comin'!!
  • atlgaxtatlgaxt Member Posts: 501
    I was looking through the history of this thread, and I saw repeated references that Mazda does not have a good program for the 3. Within the past month or so, I have seen some of the Atlanta dealers offering what appear to be fairly aggressive deals. Have there been any recent changes?
  • bstein81bstein81 Member Posts: 1
    Hi Carman,

    I was wondering if you knew what the current residual/money factor is on the 2006 Mazda 3 Grand Touring - 4 door. I am in the Maryland/DC area and am looking to do a 36 or 39 month lease at 12K miles/year. The MSRP of the model I'm interested in is 22,010 + destination charge of 550. The invoice is 20,620.

    Thanks,

    Ben
  • qbrozenqbrozen Member Posts: 32,863
    Does anyone know the MF and residual on the current 24 month deals Mazda is running on the 3s hatchback? The deal is for 12k miles, but I'd want 15k. How much does that change the deal?

    I'm specifically interested in a Touring 5-speed with moonroof package and leather, which is also different from the advertised deal (Touring automatic).

    I'd like a Grand Touring, but edmunds doesn't list that as having a lease deal. Is it true that there are no special offers on the GT?

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • qbrozenqbrozen Member Posts: 32,863
    Audia8q was kind enough to provide me with the following info on the 3 hatchback via email:

    24month 15K miles
    Touring...64%
    GT...62%

    add 2 points for 12K miles year
    add 3 points for 10.500 miles year
    deduct 2 points for manual trans.

    Money factor is .00102 for both. This is tier 0 or 1 which is the best rates.
    $595 acquisition fee....can be built in or paid upfront.

    program runs thru 5/31/06.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • z71billz71bill Member Posts: 1,986
    A .00102 money factor is less than a 2.5% interest rate (money factor X 2400 = interest rate)

    Sounds like a very good rate -

    Mazda also wants a $2,000 down payment PLUS a $250 security deposit.

    I worked (as the CFO) for a leasing company for 3 years - So I have looked at leasing a car many times -if I bought the car at the end it always ended up costing more - but that was back when interest rates were more like 12% - also back then most leases just required the first and last months payment and a security deposit - no $600 fees or $2K down payments. I always thought it was one of the advantages of a lease - no money down - but so many companies got burned by people walking away after only a year that the leasing company added a down payment. They always say its to lower your monthly payment - even when they are telling the truth they can also lie!

    BTW = by costing more I don't mean just the monthly payment amount VS a loan - because if that is all you are looking at then the lease will (almost always) have a lower payment.
  • audia8qaudia8q Member Posts: 3,138
    Mazda also wants a $2,000 down payment

    Not true. They don't require any down payment unless the buyers credit is lousy or the buyer wants to 'buy' a lower monthly payment. They often run ad's with down payments but its to hit a specific payment....not because it's required to get a lease.
  • z71billz71bill Member Posts: 1,986
    I am only going by what Edmunds has for the Mazda3 lease program - but like everything the terms can always be changed.

    I have seen a 24 month lease with no money down and no payments for 23 months - leaving one payment in month 24 - but it was more common to have a one payment lease - all paid up front - this was used by people who had nice cars that were paid off so they had a bunch of equity - they could trade their 2 year old car in - lease a new car and pay next to nothing (sometimes they even got a check).

    I have nothing against leasing - it can work out great - but you need to be very careful - educate yourself a little so you understand what the true cost will be - and if you don't understand everything then ask someone you trust that does. It is another chance for the dealership to do what they do best - which is - take more of your money.
  • ttintinttintin Member Posts: 8
    Greetings! I spent some time at a dealer a week ago trying to get my bearings on the cost of leasing a Mazda3 Grand Touring trim (with navigation system & moonroof/Bose package). The very best I was offered was $450 per month w/ $1,500 drive-off (practically no down payment). Supposedly, this was already some sort of employee discounting. I currently have another lease I am trying to get out of, that they were willing to pay off for me, however, obviously, I am very much "upside down" going into the lease. How do these terms compare with what's out there? Thanks for your time.
  • qbrozenqbrozen Member Posts: 32,863
    $450 is ALOT to pay for an economy car, IMHO.

    how many months is that? why are you trying to get out of your current lease? I ask this last question because it would seem to me that, if one lease did not work out for you, most likely another won't, either. (unless you've simply realized you need 4 doors or something like that)

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • ttintinttintin Member Posts: 8
    We were dealing for a 36-month lease. I don't really need to get out of my current lease. It ends in December of this year. I was just testing the waters to see what the dealership would be willing to do for me to get me into the Mazda3. I guess it's so popular that they don't really care too much to make me happy. The main reason why I am going into the Mazda3 is for the MPG, supposed reliability & amount of options available for a small amount of money.

    May I ask a question? Taking into consideration the popularity of the car, what is a decent monthly payment I can expect to make with no down payment? (Taking my current lease out of the equation?)
  • qbrozenqbrozen Member Posts: 32,863
    well, if you look back here:
    qbrozen, "Mazda3: Lease Questions" #34, 12 May 2006 11:14 am

    you'll see the numbers for the 3 hatch (i'm not sure if this applies to the sedan, but I would not be surprised if it does since mazda is offering deals on those, too).

    So let's say your MSRP is $22,810 and invoice is $21,148. I'd say $150 over invoice is doable, giving you a cap cost of $21,300. let's say you are looking for 15k miles per year, a stickshift, and we already know about the nav. Given all of this, I'm going to assign a residual value of 58% ($13,230).

    I come up with $441.72 with zero down and including 6% tax.

    This is about as bad as it gets. If you go with an automatic, that ups your residual. If you go with 12k miles per year, that ups your residual. If you go without NAV, that ups your residual.

    So, here we have almost the $450 you were quoted, BUT its ONLY FOR 24 MONTHS. And, of course, ZERO DOWN. so paying $450 for 3 years with money down is pretty bad when compared to this 2 year deal.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • ttintinttintin Member Posts: 8
    Thank you for your explanation, and for pointing me to the previous posting. I don't know how I missed it before. It was practically staring me in the face!

    Perhaps the reason why my monthly was so high is because they were going to pay off the rest of the my lease. It's looking like they rolled the payoff amount into the lease (which does not depreciate), and I was basically paying that plus interest over the 3-year leasing period.

    Thank you again for your time.
  • qbrozenqbrozen Member Posts: 32,863
    No problem.

    Well, sure, they are rolling in the negative. That's the killer part, though. If you think about it, you are adding a year to the Mazda3 lease just to escape 6-7 months of your current lease. Not really worth it, IMHO. But, of course, you may feel differently.

    Good luck.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Ben. According to the latest information that I have seen, if you were to lease a 2006 Mazda3 Grand Touring Sedan through Mazda Credit right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 55%, respectively.

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  • mazda3_fanmazda3_fan Member Posts: 9
    Hi Car_man,

    Do you have any information on the money factor & residual for leasing a 2007 Mazda3 Grand Touring Hatchback? Specifically, I'm looking for information on a 24- or 36-month lease with 15,000 miles a year. I'm in Los Angeles. Thank you for your time.
  • steve333steve333 Member Posts: 201
    I see on mazda's site that they have a 24 month lease. $2400 down, $219 per month. I think the buy option is $11,000. Not bad I think, but there are no power windows.

    I'm trying to decide between the Mazda3 and a Chevy Cobalt. I test drove a Corolla but it was the worst car I have ever driven.
  • wco81wco81 Member Posts: 590
    They're remodeling but claim to have inventory in the back. After telling me that they ask for $2k markup over sticker, the salesman says he could do about $500 below sticker for Costco price.

    I go in and the sales manager at the terminal say they have a Galaxy Gray with ABS and the price would be $300 over invoice. I ask out the door and he says about 18,700 something. So maybe around 18,800 with CA and 8.25% sales tax as out the door price for purchase.

    For lease, he says it would be 70% residual for 2-year, 10.5k miles/year lease with .0033 MF. He figures on a drive off of $900 and 23 remaining payments of around $347 including tax. Disposition would be $350 or $375.

    I didn't get the exact MSRP or selling price but I did get a printout. But looking at Carsdirect, the MSRP with just the ABS as option would be:

    18,045

    On the printout, the "GRS CAP COST" is $17658.

    If that's the selling price, I don't see how the OTD price on a purchase would be $18,800.
  • kyfdxkyfdx Moderator Posts: 234,725
    Gross Cap Cost probably includes an acquisition fee.. Figure on a selling price around $600 lower than that..

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, mazda3_fan. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Mazda3 Grand Touring Hatchback with 15,000 miles per year are .00218 and 65%, respectively. The numbers for an otherwise identical 36 month lease are .00292 and 58%.

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  • mazda3_fanmazda3_fan Member Posts: 9
    Thanks for the info Car_man!
  • cperosicperosi Member Posts: 1
    Hi Car_Man. I had a horrible experience at Wayne Mazda in NJ yesterday, where they treated me as if I don't know the first thing about buying a car, or about money in general...

    Here's the deal I offered them:

    2007 Mazda3 S Touring Manual
    36 month lease @ 12,000/year
    Cap Cost: $18,509 (invoice price)
    Taxes & Fees: $2295
    Due at signing: $3092.75
    Money Factor: .004 (due to credit score of 630)
    Residual: $11,513 (58%)

    Monthly Payment: $200

    When I calculate this out, that's the payment I come up with using a financial calculator. Am I doing the math wrong? Certainly I've tried to cut their profit as much as possible, but the dealership called me and told me they'd sell me the car at or below invoice, so there shouldn't be any problem using that invoice price as the cap cost. Unfortunately, they originally came out with some astronomical figure like $429 per month (this, after telling me that the pencils are sharp because it's the end of the month). Finally they let me walk out with their "best offer" on the table of $5000 down and $220 a month. Are they simply crazy or am I not adding something up right?

    Basically I took the cap cost, added the fees of $2295, and came up with a total cost of $20,804. Subtract out the money due at signing (3092.75) and we're left with $17,712. Subtract the residual, and we have $6199, total amount financed. Amortize that over 36 months, at 10% interest (.004 money factor) and we're at exactly $200 per month. So why did these guys let me walk out the door while trying to take an extra $2000 out of my pocket at signing plus another $720 over the course of the lease?

    Whose math is wrong, theirs, or mine?

    Thanks in advance.

    Chris Perosi
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