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Mazda3 Lease Questions

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  • jvsajvsa Posts: 2
    Thanks Car_Man!, I am looking at a 36mo lease but was leaning towards 12k mi per year. I should have mentioned that, sorry. I am not sure if there is much of a difference between 12k and 15k in terms of the residual?
  • bvdj84bvdj84 Posts: 1,721
    It seems like they are not truly honoring the sale price. Your payment should be that without the $2,000 down! They are making it seem like they are giving you a good sale price, but your $2,000 bumps it back up.

    Be careful! Great car though... what color are you going to pick? I love the pearl white!
  • dchodcho Posts: 2
    I just came from the dealership. For a 2010 Mazda 3 GT Sedan with MT and Moonroof/Tech package on a 36/12 lease, I was quoted a residual of 59% of MSRP with a MF of 0.00241, no money down with a drive off of 781. Negotiated price of 23,181 which comes out to about 379 a month. Any thoughts on whether this is a good deal?
  • amvb_nycamvb_nyc Posts: 3
    Car_Man,

    Can you provide the money factor and residual for a 2010 Mazda3 4 Door i Sport Automatic? I'm looking for a 36/39/42 month lease and 10k/12k mileage.

    What fees and monthly payments should I expect to pay for this? New York tax rates.

    Thank You
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks for the update, rgeba. Good luck and make sure to let us know how the story ends.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello nycarguy2. Here's the information that you're looking for. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Mazda3 s Sport with 12,000 miles per year are .00241 and an amazing 65%, respectively. The numbers for an otherwise identical lease of a '10 Mazda3 s Grand Touring are .00241 and 61%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, jvsa. The residual values for leases of Mazda vehicles with only 12,000 miles per year are 2% higher than its 15,000 mile per year residual values.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, amvb_nyc. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Mazda3 i Sport with 12,000 miles per year are .00241 and 64%, respectively. The numbers for an otherwise identical 39 month lease are .00231 and 61%.

    If you were to lease this car with only 10,000 miles per year, its residual values would be 1% higher.

    Car_man
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  • amvb_nycamvb_nyc Posts: 3
    Thanks Car Man.

    I visited the dealership last Friday and I negotiated a price of $216 a month for 39 months and 10k miles. This is with $1800 cash due at signing which includes all taxes, bank fees, etc. Is this a good deal? For a car with an MSRP of 17495 I feel like this price is still high.
  • scubadoo2scubadoo2 Posts: 13
    Returning my BMW 335i (very sad) for a 2010 3 Hatch with Tech and Roof. MSRP is $25,860. Got about $2,000 off. Leasing it for $346 month/15,000/36 months with tax and bank fee up front. Residual is 59%. MF was crap at .00241.
  • dfwguy2dfwguy2 Posts: 2
    This is my first time leasing a car, and I'm trying to make an educated decision. I'm looking to lease a Mazda 3 I Touring w/ the exctra speakers/Moonroof package.

    For a 15k mile/year lease:
    -One dealer is offering residual value of 52% of sticker with a MF of .00083, and a monthly payment of $285 with no money down (first payment only)
    -The other dealer is offering residual of 61% of sticker with a MF of .00241, and a monthly payment of $272 with $1,700 down (plus first payment)

    Car Man, do you have any advice? What are June resid and MF for this model? Do these numbers seem off?

    Thanks!
  • khanectionkhanection Posts: 12
    Since the residual and money factor are set by Mazda and not the dealer technically they should not be different...
  • kingpcgeekkingpcgeek Posts: 985
    There is more then one bank that does leases. Once dealer could be using Chase (Mazda), the other dealer could be using US Bank for example.
  • ad79ad79 Posts: 4
    Here is the offer I received via email -
    Grand Touring package with manual transmission listing for $23565 and selling for $22092. To lease this vehicle with minimum out of pocket for first payment and in fees ($750) is $367 to $371 per month, oac. With automatic transmission it sells for $22745 and leases for $371 to $375 per month.

    I don't think this is a good offer. What do you guys think?
  • khanectionkhanection Posts: 12
    i'm also looking at the 2010 GT AT with all packages. If it will cost me $375 i'd rather pay $50 extra per month and try getting a Lexus IS 250 AWD with Luxury for that price...

    Someone in the Lexus IS forums got the IS for $411 per month with nothing out of pocket... but they put down MSD which is sort of like a deposit...

    375 is high for the Mazda IMO... sounds like you haven't negotiated yet...?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, amvb_nyc. Congratulations on getting your new 3. It would be much easier for me to evaluate this deal if you were able to provide me with this car's selling price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome dfwguy2. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to negotiate a lease (at least in my opinion) is to negotiate the lowest possible selling price on the vehicle that you are interested in and then have the dealer calculate your monthly payment using its buy rate lease money factor. Mazda's July buy rate lease money factor and residual value for a 36 month lease of a 2009 Mazda3i Touring with 15,000 miles per year are .00039 and 50%, respectively.

    Car_man
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  • banshee24banshee24 Posts: 3
    I was offered a Mazda 3 i Touring with the sunroof/Bose package with a residual of 57% and money factor of 4% $1500 cash down plus $2000 for my trade. 42 Months 12,000 miles a year payments are 211 a month that is inlcuding tax. Is that a good deal? I hate spending money and I get nervous everytime I make a big purchase.
  • kingpcgeekkingpcgeek Posts: 985
    Can't tell you what kind of deal it is because you did not include the selling price of the car. Also a general rule is that you don't lease longer then the warranty, so in the case of a Mazda 36/12.

    You do not want to put that much money ($3,500) down on a lease. Perfect explanation why from leasecompare.com:

    Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.

    For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost.

    The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider:

    - Money down is taxable
    - Take the money you would have put down and invest it
    - Put your down payment in a savings account and use a portion each month to help make your lease payment
  • I have a 2008 Nissan Sentra Spec V lease that is up in October. I am looking to terminate the lease this month to get into either a mazda 3 hatchback sport with moon and tech package or a gt base model. I have $1850 in excess milage on the sentra and 3 remaining payments at $350/payment. I am looking for the current money factor as well as residual so I can figure out which dealer is giving me the best deal. Also, I am looking to do this with just 300 down. Can you tell me if this is possible on either models and if so, what can I expect to be paying with the above criteria. Thanks!
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