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Mazda3 Lease Questions

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  • kyfdxkyfdx Posts: 29,847
    MSRP is $16,170 with automatic and air...

    I'm guessing that is the car in the ad..

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  • qbrozenqbrozen Posts: 17,533
    the numbers certainly work. i wonder why they wouldn't state that in their ad. Oh well.

    thanks.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • kyfdxkyfdx Posts: 29,847
    Yeah... most ads give the MSRP of the vehicle the deal refers to... At least, Honda ads..

    On the positive side... they didn't quote a deal for a car that no one would want.. :)

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    Prices Paid, Lease Questions, SUVs

  • sdoo25sdoo25 Posts: 25
    I wanted to know what the residual was for a 5-dr touring and a 5-dr sport w/12k miles per year. I see from one of your earlier posts that the money factor for March is 0.00184. What would the money factor increase to if you had tier B or C credit?

    Thanks!
  • calvinccalvinc Posts: 11
    I see the deal for the sport model, does that mean there's no deal for the grand touring model? I'm pretty set on a grand touring.

    I posted this question on another the honda lease section also...should I negotiate the car price first, w/o mention of a lease? Then, after settling on the price, go for the lease negotiation? Is it even a negotiation or is it basically whatever they tell me? How can I shop around for the lease deal if I'm already set at one dealership for the pricing for the car? Thanks!
  • luke111luke111 Posts: 5
    Hi, I was wondering if anybody can comment on this deal:

    No added options
    MSRP $19,910
    Sale price $18,410
    Term 39 months
    Money factor 0.00184
    Redisual 55% - $10,950
    Monthly payment $231
    Upfont charges total $2446:
    - $500 cap reduction
    - $595 acquisition fee
    - $272 tags and registration
    - $231 first monthly payment
    - Paid taxed in advance $848
  • qbrozenqbrozen Posts: 17,533
    not too good.

    Just last weekend we picked up one for my brother-in-law. An S touring sedan with moonroof and automatic. MSRP was around $19,800.

    27 months, 69% residual. 595 acquisition, 285 DMV, the fees were high at $600, but they gave him $500 more for his trade than it was worth, so that was a wash.

    They gave him $3k for his jetta and he put down $200 cash. His payment is $211 with tax included.

    Yes, he put down $750 more than your deal, BUT his lease is 12 months shorter and he has a $20 cheaper payment. So your deal just doesn't seem to make sense. I think it mostly has to do with that residual. I mean, 69% after 27 months is better than 55% after 39. Maybe you should ask them to work up a 27 month deal. That is where mazda's incentives lie right now, after all.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • steevosteevo Posts: 339
    Car_Man..do you have the April MF and Residuals for 15,000 per year?
    Thanks!
  • tucci314tucci314 Posts: 2
    I don't really know much about leasing cars, but I'd really like to find a way to get a 2-year lease for this model with the sunroof & 6-CD changer package for somewhere between 200 and 240 a month. Is that possible? What exactly would I have to do to pull it off? Any information people could share with me would be greatly appreciated. Thanks!
  • qbrozenqbrozen Posts: 17,533
    anything is possible with enough money down.

    That's the same vehicle my Brother-in-law is now driving for 27 mos at $211 and his down payment was the $3k they gave him for his trade-in.

    With zero down, it would be somewhere around $340, i think. If you want $240, you'd have to put down probably somewhere around $2500.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • stallionrestallionre Posts: 205
    I really believe that the better deal is to buy your cars. I had one lease in my life and will never do that again. I actually decided to keep the car and paid more in the long run than buying the car right out. I have owned 7 cars in my life and I buy them, not lease them. If the lease deals sound to good in the beginning, then at the end you might have to pay. Since the cars are built better these days (electronic wise, faster engines, etc), it is better to buy. :)
  • qbrozenqbrozen Posts: 17,533
    blanket statements need not apply.

    my brother-in-law is actually saving money by leasing. he plans to buy the car at the end of the lease, but thanks to the subsidized rate through mazda, he will be saving about $400 by taking the 27-month lease now and financing the balance for 36 months later compared with financing the full amount for 60 months now.

    This isn't a fluke. Take a look at volvo's recent programs, for instance. They were offering somewhere in the neighborhood of $6500 cash if you lease through an independent bank. That money ONLY applied to leases, not financing. So if you financed the car, you'd pay ALOT more for it.

    All things being equal, yes, it is probably safer to finance. But things aren't always equal. There are deals out there where leasing saves you money.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • stallionrestallionre Posts: 205
    In that situation it works out well for the lease, however, if you plan to keep the car for more than 3 years, then leasing is not a good deal. Everyone knows that. It also depends on the depreciation of the car. I think that buying a car, with half down is the ideal.
  • qbrozenqbrozen Posts: 17,533
    if you plan to keep the car for more than 3 years, then leasing is not a good deal.

    well, again, he does plan on keeping it. it just so happens that leasing and then buying out the lease is going to save him money in finance charges thanks to the low lease rate.

    I think that buying a car, with half down is the ideal.

    And again here, it really isn't as easy as a blanket statement. Every situation is different. As you said, depreciation is definitely something to take into consideration, as are interest rates. Let's say, for instance, you have $10k to put down. That $10k is probably invested somewhere earning interest (at least it should be). Now let's say the manufacturer you want to buy from has a low finance rate. It might be 1.9%, for instance. Your investment is making 4.5% in the meantime. Taking money out of that investment to buy the car would not be the ideal situation in this case.

    Its pretty much the same situation with leasing. For example, my Honda lease has a MF that is equivalent to something ridiculous like 1.9%. It would not have been in my best interest to finance it at 6% when I can take advantage of their subsidized lease rate. Just like my BIL is taking advantage of the Mazda program, which is at around 4%, rather than paying 6.5% on a 60-month loan.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • stallionrestallionre Posts: 205
    This is true and I agree with you. It depends on the car the person and how much you want to put down. I didn't want to invest this money. I wanted to put it down on a car instead. I am tired of investing. I have been investing all my life and never spent money on a car like this before. It was time for me to start enjoying my money. I also wanted a low finance payment for three years at 1.9% therefore I put down 65%. I do know that investing the money earning more than say your interest rate of the car, would be a better choice. Lease vs. buying this is up to the person and how much money they have to work with. I am just talking from experience. I leased a 1999 Ford Escort Sport model and got screwed with that all the way around. The depreciation on that car was so drastic that I lost money and the interest rate at that time was high. Just like buying a house at that time, with good credit the interest rate was over 9% to me that is bad compared to 1.9% for a car and 5% for a house.
    But in all fairness, a lease can be a great deal and/or buying a car right out can be a great deal. It all depends on many factors. ;)
  • fgaz1fgaz1 Posts: 14
    where should i be on payment for a 2007 mazda 4 door '
    s grand touring auto...msrp around 23000..i would like to follow the 24 month program they have now...little as possible down...my use tax is 5%..thanks in advance..fred
  • stallionrestallionre Posts: 205
    Wow only 24 months plan. Little down, you will have a huge payment. My 2007 Mazda M3S GT OTD was $25K, I put down $15K. I owe 10K at 1.9% for 36 months, which equals $283.05 a month. :)
  • fgaz1fgaz1 Posts: 14
    I should have said that i am looking to lease , not buy...thanks for the reply...fred
  • steevosteevo Posts: 339
    This forum is called Lease Questions. WHat else would you have meant?
  • fgaz1fgaz1 Posts: 14
    come on Steevo..cut me some slack...the post before mine was someone that thought i was doing a buy,not a lease...
  • steevosteevo Posts: 339
    Sorry bro! Meant it in a light hearted way. Some of my recents have ended up on the wrong boards.. Also its top of new page when I view it and I didn't see the previous post. I guess now HE might consider it a slam!
    Anyway I am looking for same thing. Waiting for someone to post the April numbers.
  • steevosteevo Posts: 339
    So, anyone have the April numbers?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, sdoo25. Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of any 2007 Mazda3 5-Door with 12,000 miles per year are .00227 and 57%, respectively for consumers who qualify for its top credit tier. Unfortunately, I am not sure how much this money factor increases for other tiers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi calvinc. When you said that you saw the deal for the sport model do you mean that you saw an advertised lease for it? Mazda has a special lease program for both the sport and grand touring models.

    You absolutely should negotiate the selling price of the car that you are interested in prior to having the dealer work up a lease payment on it for you. You don't have to mislead the dealer that you are working with about the fact that you want to lease as long as you are firm about the fact that you want to negotiate the price of your vehicle before discussing payments. You can shop around with several dealers for the lowest possible selling price on the Mazda3 that you want and then have the one that gives it to you for the most attractive price calculate your monthly payment using Mazda's buy rate lease money factor.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi luke111. The money factor that you were quoted looks good. It must be based upon Mazda's March lease program though. I believe that Mazda Credit's buy rate lease money factor for a 36 month lease of a 2007 Mazda3 5-Door is now .00227.

    Let's take a look at the selling price that you were quoted for this car. A base 2007 Mazda3 5-Door s Touring has a spread of only around $1,250 between its full MSRP and its dealer invoice price. So the discount of $1,500 that you were quoted looks very attractive to me. If you like the car, I personally don't see any reason not to pull the trigger on this deal.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I do steevo. Here's the info that you're looking for. Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Mazda3 5-Door s GT with 15,000 miles per year are .00227 and 55%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello tucci314. Let's work up a sample payment on the car that you are interested in using Mazda's current lease program and see what sort of number we come up with. According to my calculation, if you were to lease a 2007 Mazda3 s Touring with an automatic transmission, sunroof, and 6 CD changer that has an MSRP of $20,860 and a selling price of $19,992 ($500 over invoice) through Mazda Credit right now for 24 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $298. As you can see, the payment that you are looking for is not really possible without making a large down payment. Even if you were able to negotiate this car's price down to invoice, the payment would still be $283 before tax. If you want a lower monthly payment, I suggest stretching out this lease to 36 months.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi fgaz1. This car's lease payment will depend upon what sort of selling price you are able to negotiate on it. The lower its selling price is, the lower your lease payment will be. For now I will assume that you will be able to negotiate a $1,000 discount on this car. According to my calculations, if you lease a 2007 Mazda3 s Grand Touring Sedan that has an MSRP of $23,000 and a selling price of $22,000 through Mazda Credit right now for 24 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $354. If you stretch this lease out to 36 months or are able to negotiate a lower selling price its monthly payment will be a little lower.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi steevo. I have seen Mazda's April lease program for the Mazda3 and I would be happy to give you an idea of what it is like. I just need you to provide me with some additional information first, including the exact model that you want, how long you want to lease it for, and what mileage allowance you need. Let me know what these numbers are and I'll tell you what the April lease program is like.

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  • steevosteevo Posts: 339
    Thanks Car_man!!
    You got me in #117.
This discussion has been closed.