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Mazda3 Lease Questions

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  • delta737hdelta737h Posts: 603
    edited August 2010
    kyfdx,

    To some extent, you're absolutely right! However, there is much useful information that can be gleaned from many, but not all, lease promo Ads such as the money factor buy rate , residual factor, residual value, acq fee, applicable lease end charges, term, etc.

    The advertised payments, cap reduction, amount due at lease signing, and net cap cost don't mean squat. Unfortunately, many people erroneously think that all the terms of the Ad are etched in stone and take them literally. Nothing couldn't be further from the truth.
  • joeauto2010joeauto2010 Posts: 11
    edited August 2010
    Hi,

    So these auto dealers are being stubborn about getting me a lease worksheet. It's not just one of them...but all of them are being stubborn and don't really address me request.

    I did visit a dealer and got these numbers:

    The net cost of the vehicle was $19,137 and he didn't really want to honor my full $500 Mazda credit for return customer. He gave me the numbers of $19,087 as the net cost of the vehicle for a 36 month/ 12k a year lease and insisted this was the lowest he could do.

    He seemed stubborn on the $500 Mazda credit, so that would make the vehicle $19,587 before the credit, right? This doesn't seem to be as good because I was expecting $18,637, but his $19087 for the overall net cost is the lowest I've gotten thus far. Do you have any thoughts on how this credit should have been factored in?

    At $19,087, the monthly was $228.95 before tax, and I ran that through the formula you gave me and that seemed to work out roughly. He said that $301 was due at signing for all the paper work, DMV fees and licensing.

    Also, does anyone know what the minimum insurance is for the lease? My first lease was 15/30/10 but this guy didn't seem to know the answer. Thanks for all your help!
  • delta737hdelta737h Posts: 603
    edited August 2010
    joeauto2010,

    Your mistake is that you're allowing the dealer to control the deal. You should create a one-page lease proposal. It will save lots of time, money, and aggravation. Email me at

    diffeq@zoominternet.net

    if you would like a few sample proposals.

    Regarding insurance, that should be specified in the lease agreement. Ask the F&I guy for a copy of a blank lease agreement. Don't ask a human being at the dealership because chances are they don't know.

    John
  • aviboy97aviboy97 Posts: 3,159
    The net cost of the vehicle was $19,137 and he didn't really want to honor my full $500 Mazda credit for return customer. He gave me the numbers of $19,087 as the net cost of the vehicle for a 36 month/ 12k a year lease and insisted this was the lowest he could do.

    If by $500 Mazda credit, you mean the owner loyalty Mazda is offering, they cannot deny you of it. It is considered at rebate, and not taken off the actual selling price. I would ask to speak to a sales manager or general manager if they will not show you the lease breakdown.

    Also, does anyone know what the minimum insurance is for the lease?


    I believe Chase requires 100/300/100 for coverage.
  • Hi,

    I finally got my lease. Thanks delta737h and aviboy97 for all your help. Unfortunately, I couldn't get a lease breakdown in time but after reading over the sample proposals and all your infos, maybe I could have gotten a better deal, but I'm happy enough with what I got.

    My numbers were as follows (from what I see on the lease)

    Mazda3 5-door HB automatic s-sport (MSRP $21235)
    36 month/36 thousand miles
    The adjusted cap cost was $19013.16
    This included my first month, all my DMV fee's licensing etc etc, so I had a zero drive off.
    I then pay $250 after tax for 35 month.

    I think the paperwork said that the agreed apon price of the car was $19513.16, but there was a cap cost reduction around $1000 included in a total of $1850 due upfront, which the dealer marked as a cash rebate, so I still paid nothing on drive off.

    I can get the firm numbers for anyone that was to analyze this even more. Considering that I was crunched on time cuz my lease was ending, I feel I got a good deal.

    Thanks again for your help.

    -Joe
  • renny13renny13 Posts: 1
    I'm looking for August numbers on a Mazda 3s Sport for the following:

    Manual
    24/month
    12K/yr

    Any help is much appreciated.

    Thanks,
    Brian
  • Does anyone see it possible to get a mazda3 sport lease for $200 or less a month with $0 down? 36-42 months 12000 miles a year? The best offer I received so far was $218.
  • Hello Brian. Here's the latest info for you.

    Mazda's current buy rate lease money factor and residual value for a 24 month lease of a 2011 Mazda3s Sedan Sport with 12,000 miles per year are .00246 and 75%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Today I went to a MN Mazda dealer with the intention of leasing a 2010 Mazda 3 AT Sport. After test driving the Touring, I felt that stability control and traction were enough to justify an increase in price. After we had sorted through various leasing options, the best deal came out to be $255/mo on 12k miles, 36mo and $0 money down on a 2011 Mazda 3 sport. My questions are: 1. Is this a good deal? 2. Is it possible to find a 2010 Touring with moon/bose for a similar lease rate?

    Also, is there required scheduled maintenance which Mazda will force you to get and pay for? Thank you so much for your help.
  • amwke,

    There is no way to guage whether a 36 month, 12K mile lease at $255 per month with $0 up-front is a good deal or not. Too much information is missing. Many people focus on payment alone when leasing and that's a HUGE mistake. You need to determine the following...

    MSRP
    Sell Price called Agreed Upon Value (negotiable)
    Transaction Costs (i.e., dealer doc fee, acquisition fee)
    Cost of Money (e.g., money factor)
    Residual Factor
    Residual Value (Res Factor x MSRP)
    Pre-Tax Monthly Payment

    I suggest you educate yourself about the basics of leasing including lease terminology (e.g., gross capitalized cost, capitalized cost reduction, adjusted capitalized cost, money factor, residual value, etc.) as well as how to compute lease payments. Lack of knowledge in this area is like putting a guppy in a tank with a great white shark... the guppy won't even realize that it's been swallowed whole!

    Hope this helps.

    John
  • -MSRP ($17,955.00)
    -Agreed upon value (Buyout is $12,179.85)
    -transaction costs ($745 – set by Mazda, non-negotiable)
    -Residual factor 67%
    -Money factor .00232
    -pre tax monthly payment. All taxes incl. in payment – this is set by Mn law regarding leases

    Terms of lease are 12k miles a year, $0 down, 36mo.

    Please help me understand if I am getting a good deal or if I need to continue to bargain. Thank you so much.
  • MSRP ($17,955.00)
    -Agreed upon value (Buyout is $12,179.85)
    -transaction costs ($745 – set by Mazda, non-negotiable)
    -Residual factor 67%
    -Money factor .00232
    -pre tax monthly payment. All taxes incl. in payment – this is set by Mn law regarding leases
  • When you lease a car you are supposed to maintain the car per the manufacturer's specifications. That does not mean you have to have to have the maintenance done by Mazda, just that it is done. In reality the maintenance required in the first 3 years of a new car comes down to oil changes and an occasional tire rotation.

    When I have turned leased cars in there was never a discussion of the maintenance done, they just inspected to make sure there was nothing more then normal wear and tear.

    Since Chase, not Mazda, is the company you are leasing a new Mazda from there might be different lease turn in criteria.
  • I'm looking for money factors and residuals on 2011 mazda3 touring and sport. Any help?
  • Here's the information that you're looking for, mrbucket.

    Mazda's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Mazda3 i Touring Sedan with an automatic transmission and 15,000 miles per year are .00232 and 63%, respectively.

    The numbers for an otherwise identical lease of an '11 Mazda3 s Sport Sedan AT are .00232 and 66%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I am looking to lease a 2010 Mazda 3 iTouring Sedan AT with moonroof/bose package. Can you provide me with the mf and residual for a 10,000/36 lease?

    Thanks in advance!
  • Hi rolento76. Here's the information that you're looking for. Mazda's October buy rate lease money factor and residual value for a 36 month lease of a 2010 Mazda3 Sedan Touring with 10,000 miles per year are .00158 and 58%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Guys, lease is a big no-no these days. Cars holding the value much better. You don't drive out and lose 3 grand anymore. since the internet, people no longer pay outrageous amounts to dealers in the first place. Cars are better and you can keep them longer to drive the cost down.
  • Guys, lease is a big no-no these days.

    In your opinion. For the person that gets the itch to get a new car every three years and continually rolls their negative equity into a new loan leasing is the way to go.
  • My wife and I are shopping for a new vehicle lease for the first time. We decided that with the number of vehicles we go through and the number of changes we make that this is the right choice for us. I think we have fair credit after estimating our FICO score at myFICO. (630-680). We are interested in a Mazda3 S sport 4 door or i Touring. My first question is what should I expect if we finance through Chase with our credit as far as money factor? Additionally, I used the Auto Lease calculator and want to know if these are reasonable numbers.
    2011 Mazda3 S Sport Automatic
    Vehicle Sales Price: $19857 (invoice cost and destination fee)
    Sales Tax: $1092 ( I live in WI)
    Title Fee:$298 (not sure if this is correct for my state)
    Cash Rebate:$1871
    Cash Down:$0
    Lease Term:36 months 45000 miles
    Residual value: $14160 (taken from edmunds true cost to own)
    Money factor: .0016
    Acquisition Fees: $0
    Security Deposit: $200 (automatically put in, but would actually be $0)
    Total loan amount:$18644.00
    Payment with tax: $186.77

    Am I shooting to high? Thanks!
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