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1I 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

19,105I'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?

'14 CTS Vsport; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

19,10524month 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.

'14 CTS Vsport; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

2,000Sounds 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.

3,138Mazda also wants a $2,000 down paymentNot 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.

2,000I 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.

819,105how 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)

'14 CTS Vsport; '98 Volvo S70 base; '14 Town&Country Limited; '09 LR2 HSE. 41-car history and counting!

8May 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?)

19,105qbrozen, "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.

8Perhaps 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.

19,105Well, 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.

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9Do 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.

201I'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.

497I 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.

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91Here'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

2Would you know if the rates changed as of 11/1?

I'm going shopping tomorrow for a 3sGT or 3sT

(or maybe 6iVE):

36 months

17,500/year

BTW, how much would I be paying to "pre-buy" the miles. I think I read somewhere on Edmunds.com that it should run about half as much as at lease end.

Thanks,

S.

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38,515I would be happy to double check your calculations for you, however in order for me to do so I need you to provide me with this car's full MSRP, including the destination charge. Let me know and I'll crunch some numbers. In the meantime, check out the following informative article that is available here at Edmunds.com to see if you are using the correct formula: Calculate Your Own Lease Payment.

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3,15915,000 miles per year is the highest mileage allowance that Mazda publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty, but I am not sure exactly how much less.Actually, you can do a 19,500mi/yr lease, however, the residual takes a big hit. If you want more miles then that, then you may purchase them at .10 cents/mile. Any unused miles over the 19,500 that you purchased will be refunded at the end of the lease. You cannot purchase additional miles with Mazda unless you do more then 19,500mi/yr.

8Can you tell me what the lease rates are for December? I am looking at a 36 month, 12k per year lease on either the sedan or hatchback. Also, any rebates with leases being offered?

Thanks,

FeDriver

9Can you also provide residual & MF for 24 & 36 month, 12k per year for both "S" sedan and hatchback?

Thanks!

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