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Mazda3 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Tim. Chase's July buy rate lease money factor and residual value for a 36-month lease of a 2012 Mazda3 i Sport 4-Door with auto and 10,000 miles per year are .00066 and 58%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • sentientsentient Posts: 4
    edited July 2012
    I wanted to report back on my experience for the potential benefit of others. I think I got a decent deal, although I'm sure someone out there has pushed even harder. It seems like a good deal to me though and I was happy to sign.

    Here are some of the relevant numbers:
    Mazda3 iTouring Automatic
    MSRP: $20,345
    Agreed value of car: $18,833
    Term: 42 months
    Miles: 12K per year
    Residual: 56%
    MF/Interest Rate: 0.00091 or 2.18%

    Here are all the other fees I ended up paying. Some are of course nonsense.
    Acquisition: 750
    Sales/Use Tax: 280
    Title/Reg Fees: 250

    That should be all the info anyone needs to calculate it out.

    Notes:
    -The Acquisition fee is marked up from 595 to 750. I questioned them about it and they fed me a total lie about money down vs no money down leases. They didn't charge me a "dealer doc fee" though, which I'd been expecting. So it's a wash.
    -I don't know where the 280 tax comes from. It seems too low to be the sales tax on the car and too high to be for any of the random fees. This is still a total mystery to me, but I am happy with the end result so I suppose it doesn't matter.
    -My sale price is $18,833 and TMV is $19355. But you should tack onto the agreed price the $150 they bumped the acquisition. So in the end I guess I picked it up for $19K with no other dealer fees.

    I let them get away with the Acquisition fee b/c I was happy with the end result and the payment they gave me. I have no idea if they would have gone lower, but this seemed aggressive to me already.

    I plan on babying this car and then potentially buying it out and flipping it to clawback some value if it is significantly higher than residual value at lease end. I'll see what is smartest once I get near lease end. I'll probably start investigating a buyout ~32 months in when a few months are still left on the warranty for any potential buyer. If not, I am thrilled to drive it for the 42 months total.
  • tonesterttonestert Posts: 3
    Hi,
    I don't post much at all on here but I just wanted to give potential leaser's my experience with my leased Mazda.
    At around 20,000 miles and just a little over 2 years on my lease for my 2010 Mazda 3 hatch and had to replace the tires and this was after rotating them every 5000 miles. Mazda seems to put crappy tires on thier cars.
    It really sucks to have to pay $500.00 on tires that I will only use for a short time then turn the car in. Bad thing is my previous lease was a VW GTI and I had to replace the tires on that too. Now I thought that was my fault as I did not rotate the tires enough but it seems at Mazda and VW do not put very good tires on thier new vehicles.
    This is the last lease for me as I can't afford to keep wasting money on tires on cars I'm not keeping.
  • autonomousautonomous Posts: 1,769
    It really sucks to have to pay $500.00 on tires that I will only use for a short time then turn the car in.
    Agreed!
  • Hi car_man,

    Can you tell me the residual value and money factor for a 2012 Mazda3 i Touring automatic in the Philadelphia area for 42 months/15000k per year?

    Also, I may purchase up to an additional 3000 miles upfront. Every dealer I talked to (Mazda, Subaru, Honda, etc) is charging me 10 cents a mile if I buy them upfront. It's 15 cents a mile at the end of contract. 10 cents seems high to me. I read in an article here on edmunds that it should average 5 cents and that's what edmunds lease calculator seems to uses. Considering leases correlate with the used market, I checked the TMV of an '09 mazda3 with 45k and 54k miles. The mileage adjustment came to $207. Divide by 9000 miles and it comes out to 2.3 cents a mile. I think 5 cents is reasonable for both parties. Does anybody have any experience on this matter?
  • qbrozenqbrozen Posts: 17,282
    edited August 2012
    The TMV? That's not the whole picture, I don't think. An uptick in mileage changes the residual value, and I can pretty much guarantee it is more than $207.

    A salesperson once told me that 5k miles adds about $15 to the payment ... or about 10 cents per mile.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • The reason I looked at the TMV was because the residuals try to predict the value of the car at the end of the lease, factoring mileage and age. The dealerships I went to had published residuals to 15k/yr. After that they charge a rate of 10 cents per mile. So I was using the TMV to get an estimate on the value of the car after the additional mileage.

    For your example do you mean 5k/yr? Cause if that's the case, assuming 36mo lease, 15*36=540 540/15000=3.6 cents per mile.

    Looking at car_man's posts where he provides rates for multiple mileages (735, 737, 750) he states the difference between 36mo 10k->12k at 1% and 12k->15k at 1% as well. 1% of a $20,000 car is $200 which equates to 3.3 cents and 2.2 cents respectively. Say we double the depreciation to 2%. That still puts us at 6.6 to 4.4 cents per mile. Working backwards from 10 cents, for an additional 3k miles per year for 36 months means the cars residual would have to drop 4.5%. That seems too high for an economy car.
  • @ car_man

    I forgot a detail, the car I requested the info for is the 4-door sedan. Thanks!
  • qbrozenqbrozen Posts: 17,282
    oh, right. 5k/year.
    i'm so tired today.
    sorry about that.

    I'm not sure why they just aren't using a different residual rather than charging per mile ... unless you are going above and beyond. In other words, I think most leases are available up to 18k/yr, but then they have to go per mile above that.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • It would be easier if they'd use a residual for 18k per year. But both the Subaru and Mazda dealer I visited would only quote 15k and then charge for the extra 3k miles. Arguing less than 10 cents shouldn't be too hard, I'm just worried they'll just say the leasing company charges that flat rate and they can't change it. I of course wouldn't be able to verify if that's really the truth.
  • kyfdxkyfdx Posts: 28,457
    I'm just worried they'll just say the leasing company charges that flat rate and they can't change it.

    They would be telling the truth...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • kyfdx,

    Thanks for the clarification! It's unfortunate it can't be negotiated, they charge way too much! Any chance you could provide the lease info I requested a few posts back?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi balthazar9. I've seen information about leasing this car for 39 months, but I haven't looked into a 42 month lease of ye before. I'll look into that for you.

    In the meantime, Chase's August buy rate lease money factor and residual value for a 39-month lease of a 2012 Mazda3 i Touring Sedan in Philadelphia with 15,000 miles per year are .00084 and 56%, respectively for consumers who qualify for its top credit tier.

    Actually $0.10 per mile sounds about right for excess mileage purchased in advance. $0.05 sounds a little low to me. I don't think that the dealer has the ability to mark-up excess mileage charges.

    Car_man
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  • Car_man

    Thanks for the info! My local dealer quoted me 54% for 42 months with a mf of .00091 but they use tier 2 by default. I got a quick quote for 36 and 39 too but didn't get the figures. Based off of some quick calculations, I think they came out to 58% and 56% respectively.
  • Hi Car_man,

    Could you look up the top tier money factor for a 15k/yr 36 month lease for a Mazda3 i Touring sedan with an auto transmission in the Philadelphia area?

    Does using Chase Financing exempt you from receiving dealer cash any incentives? The fine print on edmunds incentive page says I should be good but I had a dealer try to tell me otherwise.

    Thanks! :)
  • ixis14ixis14 Posts: 4
    edited September 2012
    Hello Car_man,

    I'm interested in leasing a 2012 Mazda3 iTouring with Skyactiv-G. I'm not sure about the lease length right now. I'd appreciate it if you can provide me with the September residual and money factor for a 24 month and a 36 month lease. I'm only interested in the lease rates for 15k per year. I'm planning on leasing the car in California if that makes any difference.

    Also, I think I qualify for the top tear lease rates, but I might be right on the edge. What is the minimum credit score for the top tier lease rates?

    Thank you for your help,

    Ixis14
  • You're welcome balthazar9.

    Car_man
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  • Hey balthazar9. Chase's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Mazda3 i Touring Sedan with an automatic transmission and 15,000 miles per year are .00066 and 58%.

    The $1,500 dealer cash that Mazda is currently providing on '12 Mazda3 Sedans is not compatible with the aforementioned lease program.

    Car_man
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  • Hello Ixis14. Mazda's August lease program is scheduled to run through September 4th, so its new Sept. numbers won't be available until some time on the 5th at the earliest.

    Here's the August information for you for now to at least give you an idea of what you will be looking at.

    Mazda's current buy rate lease money factor and residual value for a 24-month lease of a 2012 Mazda3 Sedan i Touring with 15,000 miles per year are .00146 and 69%.

    The numbers for an otherwise identical 36-month lease are .00066 and 58%.

    I'm not sure what credit score is the cut-off for Chase's top credit tier, but I can look into that and see what I am able to find out.

    Car_man
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  • Thank you for the August lease rates Car_man.

    I'm getting close to finalizing a deal, so when available please post the September lease rates.

    Thanks,

    Ixis14
  • Mazda's September buy rate lease money factor and residual value for a 24-month lease of a 2012 Mazda3 Sedan i Touring with 15,000 miles per year are .00118 and 66%.

    The numbers for an otherwise identical 36-month lease are .00048 and 57%.

    Car_man
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  • Car_man,

    Is it possible to negotiate with a dealer to lower the residual value of a 2012 Mazda 3 (or any car) down to a nominal amount, say $2000 or less? Because of the way my company's car allowance is structured, I can only use it towards a lease payment, not a loan. Due to how much I drive and how long I tend to keep cars, a standard lease doesn't really work for me. I'd like to structure a lease with a high monthly payment (~$500) and a low residual value at the end of the 3 years (~$2000). And what impact, if any, would this have on the money factor?

    Thanks,
    100OFR
  • Hi 100OFR. Banks typically don't allow consumers to negotiate lower residual values on vehicles (before anyone corrects me, I know that there have been exceptions to this rule in the past...but they are few and far between :) ). What you need to do is to purchase additional miles on a per-mile basis. You should be able to purchase a ton of additional miles at lease signing at a discount to what you would have to pay for them at lease-end.

    Purchasing additional miles would not have any impact upon the money factor.

    Car_man
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  • dolphin5dolphin5 Posts: 26
    edited October 2012
    Hi Car_man,

    Can you please provide the lease numbers (mf & resid) on 24 and 36 month, 12K mi/year leases on the 2012 Mazda 3 Sedan I-Sport and I-Touring models. Also, is there any lease support (i.e., lease cash) being provided?

    Thanks
  • Hi dolphin5. Chase's October buy rate lease money factor and residual value for a 24-month lease of a 2012 Mazda3 Sedan i Sport with 12,000 miles per year are .00075 and 65%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00016 and 56%.

    The money factors for the '12 Mazda3 Sedan i Touring are the same, but its residuals are 2% higher.

    Mazda is not currently providing any cash incentives on leases of this car that I am aware of.

    Car_man
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  • Hey Car_man,

    I haven't seen any information about a speed3 lease. Can you post what you can find? THANKS in advance...

    Ed
  • Wanting to get the Money Factor and Residual for a 2012 Mazda 3 i Grand Touring for 36 Months and also 42 months please if anyone can help?
  • I'm in Arizona BTW
  • Greetings banshee24. Chase's November buy rate lease money factor and residual value for a 36-month lease of a 2012 Mazda3 i Grand Touring Sedan with an automatic transmission and 15,000 miles per year are .00025 and 57% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 39-month lease are .00045 and 55%.

    Car_man
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  • What is the significance of buy rate lease money factor and residual value? I understand what the RV is but can I use these to calculate how good their lease offer is?
This discussion has been closed.