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Mazda3 Lease Questions

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  • qbrozenqbrozen Posts: 17,612
    I don't know what the percentage is, but I'd be looking to pay invoice +$500 on an '08 i.

    And, yeah, $350 or so per month on a 60-month note is about right.

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

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  • I just got a lease price of $254.61+tax for I Touring 4 Auto with ABS package. The dealer suggested the purchase price of $16,997 and the buyout price of $10.365.45 Not sure if it's a good deal? :confuse: Please help. Thank you
  • pjo1966pjo1966 Posts: 120
    2008 Grand Touring Mazda3 w/ automatic - 36/36000 lease

    MSRP $21,480

    Price $20,845
    Dealer Transportation Fee $635
    Window Tinting $249.95 (unwanted, but already on car)
    Dealer Installed Bluetooth $595

    Net Cap Cost $21,427
    Drive-Off Fees $621.91
    Residual $12,028.80
    Payment $336.67
    Payment w/ tax $364.45

    How does this deal look?
  • Just an FYI...
    I just got a 2008 Mazda3 I Touring with Moonroof/Foglights/6 disc etc...
    39 month lease
    10,500 annual miles
    0 down sign and drive
    $1,000 trade equity
    $246 a month taxes included in payment.

    Woodhouse Mazda Omaha Nebraska
  • I just got this quote from a dealer, please let me know what you think.
    This is for 2008 Mazda i sport 27months lease term.

    $1000 out of pocket (includes 1st payment and tag fees)
    $234.26 tax included
    net cap cost 15,524

    or 1st payment only out of pocket $265 tax inc

    please tell me if it's good or am I being taken?
  • Are you in Southern California? That deal looks good but I have no idea. I was quoted $291 (inc. tax) for an i Touring edition. for 24 months and 10,500 miles only.
  • 2008 Mazda3 i Touring Automatic. Los Angeles, Star Mazda.

    Cap Cost = $17,485
    Drive off = 1st month + DMV fee (amounts to less than $500)
    Mileage = 10,500
    term = 24 months
    payment = $291 (incl. tax)

    It seems high to me.
  • Net Cap 14k
    $213 per month after taxes
  • I'm in the Los Angeles area and I'm trying to find out what the residual value and money factor is on a Mazda3 i touring sedan (4-door). I can do 2007 or 2008, whichever is better economically. Also, is it unreasonable to expect a dealer to sell/lease me the car at or below invoice? I thought I read somewhere once that dealers actually pay less than the invoice for their cars.

    The other question I had -- if I think Wells Fargo will give me a better deal than Mazda's financing arm, and I ask the salesman to give me the WF number, is he obligated to do that?

    Thanks for all your help. I love Edmunds.com and I've spent hours on these forums researching cars. Thanks to whoever started this site.
  • proeproe Posts: 157
    2008 wagon s Grand Touring with AT, MSRP: $20,845

    "The best lease that Mazda has to offer to you is the 24 month lease, the money factor is 1.46 and the residual is 63% at 15,000 miles per year. With 0 out of pocket the payment is $333 plus tax."

    Thanks in advance.
  • Hi beautie. I'm glad to hear that you like the forums so much :). Mazda is not providing lease support on 2007 models any longer, so you will be better off going with an '08. You never mentioned how long you want to lease for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Mazda3i Touring Sedan with 15,000 miles per year are .00194 and 57%, respectively. This is a special lease program that is being run by Mazda's captive finance company. I personally doubt that an independent bank will be able to beat this program, but I suppose that anything is possible. If an independent bank has a better program on it, the dealer will likely know about it and try to steer you in that direction. It doesn't hurt to ask though.

    I am not personally all that familiar with what the market is like for the Mazda3 right now, but you are in a competitive market. If I was trying to lease this car in your area, I personally would probably shoot for a selling price of a couple hundred dollars over dealer invoice and see what happens. You may be able to get an idea of how much you will have to pay by checking out how much other community members have paid for similar cars over in the "Mazda3 Prices Paid and Buying Experience" discussion.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello proe. The money factor that you were quoted looks good. It is right in line with Mazda Credit's current buy rate for this model. You never mentioned what this car's selling price and MSRP are though. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I am sure that myself or some of the other community members who frequent this discussion would be more than happy to give you their opinion of this deal if you provide us with these numbers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • azbriankazbriank Posts: 10
    Car_Man, do you have any new lease numbers for the Mazda 3's?
    Say 36/39/42 (whichever is most advantageous) on a 4door S GT?

    Thanks!
  • rctennis3811rctennis3811 Posts: 1,031
    Hey guys,

    I have a 2006 MAZDA3s GT fully-loaded hatch that my mom got for me as an early 17th birthday in April 2006. It is currently a lease with Mazda Credit 12,000 miles/year for 3 years. As of RIGHT NOW, I have only 6,000 miles left for the whole year (remember, my lease expires April 2009.) Now I do not want to keep this car as my car for the rest of college because both my mom and I want my next car to have stability control after witnessing its usefulness in both her 2004 Acura MDX and 2008 Infiniti G35. So here's my dilemma: Can I do an early lease termination, and if so how and should I do it?

    -I've gone to a couple of dealerships (including another Mazda dealership where I did not get this 3 from) and they have all said that they can assist me in my early lease termination. Is this true? The Mazda dealership where I got the 3 from said that I had to return the car to THEM and nobody else.

    -I was told that by doing an early lease return somewhere this summer would put me in negative equity. Can somebody else elaborate? How do I calculate how much negative equity would have to be rolled into a new car?

    -On Mazda Credit's website, they talk about lease-end procedure and how I can purchase the car outright at the end. Does that mean that whatever the agreed-upon price of the vehicle when we signed the lease can be split up into monthly payments as they are now?

    -Is it true that at the end of my lease that if I just leave the car with them and not pick up a new car that I have to pay?

    PLEASE HELP GUYS!! I'm really confused as to what to do with my situation. Any advice is appreciated!! :)
  • qbrozenqbrozen Posts: 17,612
    1. Yes, any dealer can get you out of your lease early, not just a mazda dealer, and not just the dealer you leased from.

    2. negative equity is the difference between the value of the car and what you owe. Leases can be terminated in 1 of 2 ways. Paying all the payments NOW and getting out of it ... so 12 payments in your case, I presume. OR a dealer you trade it to actually buys it from Mazda at your current buyout and gives you credit for its trade value. This is the preferred method only when the current trade value exceeds the end-lease buyout. So, for instance, if your buyout a year from now will be $10k, but the car is CURRENTLY worth $12k on a trade, then they but it from Mazda for, say $16k, and you have to roll the $4k negative into your next car.

    3. Yes, if you decide to buy the car at the end of the lease, I'm sure Mazda credit will work with you on a finance contract .... or you just go to a bank.

    4. Whether you pay at the end or not depends on your contract, miles driven, and excess wear and tear. Some contracts have a fee at the end for turning it in, which would be added to the fee for your excess miles and/or excess wear and tear.

    You have a lease allowing 36k total miles. You've driven 30k and have a year to go. That means, at your current rate, you will go over by 9k miles. If I assume a 15 cents per mile charge, you would owe $1350 at lease end in excess mileage charges.

    If I were in your shoes, I would try to wait as long as possible and see where you are at at that time. Once you get to ... say 35k miles ... then weigh your options again. It may be worth it just to pay the excess miles and finish the lease rather than roll too much negative equity into another vehicle.

    Without knowing your payments or buyout, its very difficult to give you any advice other than that.

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

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi azbriank. According to the latest information that I have seen, Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Mazda3 s 4-door with 15,000 miles per year are .00165 and 53%, respectively. The numbers for an otherwise identical 39 month lease are .00155 and 50%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Are the numbers for leasing the mazda 3 touring value edition with automatic the same as you describe for the mazda 3s?

    What is a good monthly payment for a 36 month lease on a mazda 3 auto touring value edition with a small $1500 or $0 down payment?

    THX
  • Dear Car Man,
    The time is near for me to make a decision to buy or lease. I am looking for a Mazda 3i touring value edition with automatic. The lease should be a minimum of 36 months longer is also good. I can live with 10,000 to 15,000 miles per year with no or a minimum amount of cash down. What monthly fee should I be looking at? What would be the buy out at the end of the lease?

    THX for your advice.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mazdabuyer08. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. If you let us know what these numbers are, I am sure that either myself or another knowledgeable community member will gladly give you their opinion of what this car's monthly payment will be.

    For now I can tell you that Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Mazda 3i touring value edition with 15,000 miles per year are .00165 and 54%, respectively. The residual value for a lease with only 12,000 miles per year would be 2% higher. The residual value for a lease with 10,500 miles per year is 3% higher. You can use this lease program, along with the prices that I mentioned to calculate a lease payment using the formula that is outlined in this article: Calculate Your Own Lease Payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thank you for your reply Car_Man. I'll try to answer your questions.

    I would estimate a selling price of $17,500, MSRP of $18,200. The destination charge is an additional $635. I would also be ok with 10,500 miles per year. Does Mazda do a 4 year lease as well as three years?
  • Man am I glad I stumbled on to this website. Ok I'll post the numbers and if you can Help Car Man that would be great. Is this a good deal?

    .........on a Mazda 3 i touring with a msrp of $17,790.00 plus a $1,000 discount bring the price to $16,790.00

    on a 15K mile lease with 0 down
    24 month = $336.00 mo 27 month= $317.00 mo 36 month = $297.00 mo

    Same 15K miles a year with $1,000.00 down
    24 month = $293.00 mo 27 month = $279.00 mo 36 month = $268.00 mo

    Same as before but with $2,000.00 down
    24 month = $250.00 mo 27 month = $242.00 mo 36 month = $239.00 mo


    THANKS A BUNCH
  • docmridocmri Posts: 25
    I just came home from dealership.
    I Just leased 2008.5 touring value edition.
    My lease is 236 (tax inclusive...222 w/o tax) for 27 months with 15,000 miles and NO MONEY OUT OF POCKET except for first month and tags (~210).

    I originally agreed to 39/15k at 209 (w/o tax) with zero out of pocket but realized at time of signing that I would have an extra 12 months and might be out from under warranty at 36k miles with a 39/15k. They offered to make it 27 months which worked out to $14 more a month. I didnt have the RV's or MF's for 27 months but had to trust their Numbers (61% and .00196) but I figured for an extra 14 dollars total I was out of lease one year earlier and always under warranty. So I bit.
    THoughts?

    Dan
  • Hey Dan what state are you in and compared to my numbers looks like you are getting a better deal.
  • docmridocmri Posts: 25
    I am in southern florida
    It may be worthwhile to send out number requests to several dealerships over the internet. One pointer....Even if you are inquiring over the web at local dealerships it would seem beneficial to say over the web that you are a few hours drive away. They tend to be more aggressive with buyers who live further away as these are customers outside their normal catchment area and can be considered "bonus" costumers.

    Car was for my wife...we drove it home today.
  • rdyxlrdyxl Posts: 4
    Hey Dan, Just wondering what's your invoice price? Using the figures you provide( 61% 00196)with $17000 invoice, MSPR$18200. I get $273.52 per month. SO confused. :confuse:
  • docmridocmri Posts: 25
    My wife took the car to work so from memory. The car MSRP with destination was ~18,100.
    I can tell you that the agreed upon price was roughly 14,400. THey figured in the acq fees etc (roll into price) so the final cap cost price used for calcualtion was somthing like 15,600.
    THis is a large dealership with a big inventory of these cars.

    THis was for the touring value edition. I did not opt for the moonroof. but comes with power locks,windows, A/C and fog light etc. I essentially took the value edition (2008.5 ) without any add on options.
    Here is how I went about getting car....
    Origially via email they offered me "Your Mazda 3i sport comes standard with a 2.0 liter engine, a 4-speed automatic transmission, a tire pressure monitoring system, cd, electronic asst. steering, steering wheel mounted audio controls, and much more.
    39 Months/10,500 Miles Per Year/$1,200 Total Out of Pocket..(oop)
    $211.29+Tax"
    I went to dealership to look (wasnt buying...nothing they offered me was going to sell me a car until I had a chance to familiarize myself with RV's and MF"s and expected sales price of car. I also wanted to look at competeing dealerships, brands and models). Instead of letting me leave they offered me this car for 209/month with nothing down or oop for 39months. I said no and went home to crunch numbers and came across residuals from this site and MF's for 39 months. I punched them in and utilized a a 2500 discount that was being offered from dealership on all the cars. I figured that I should be in the touring value edtion for the same offer.
    I called the next day and offered to come in after workk (if they agreed to same lease offered me but for the touring instead of the iSport. They got back to me that they couldnt do it but would for 229/month (39 months). I said I would think about it . THey emailed me on saturday that they might be able to do something.
    I called on Sunday and spoke to manager and told him I would come right in if they could do the 209 deal on the value touring. THey called me back 15 minutes later and said they could but I needed to come in TODAY. no problem..I was there an hour later.
    At the financing they changed gears on me and wanted to make it 27 months (to do me a favor..of course, having a shorter lease means they get a potential customer back sooner as well and a car in better condition to sell)...Iike I said above I was hesistant to do this because I didnt really know the RV's or MF for 27 months but figured that for an extra $14 dollars a month i can shorten my lease by a year and make sure that I am always under the 3/36 month warranty (I was concerned that we would have about 45K mile on this car after 3years so I did it after punching in #'s into my palm phone lease calculator program and satisfied myself that no other parameters are being changed and no monkey business was occuring.
    Seemed like a good deal
  • rdyxlrdyxl Posts: 4
    Thanks a lot Dan. Congratulations on this great deal. $15600 for the sale price is amazing. I think that's why you got such a good offer. Still working with the dealer, hopefully i can get the invoice down. :)
  • docmridocmri Posts: 25
    Thanks...consider this.
    If the dealer is not willing or able to frop the price signficantly then consider having the car shipped from elsewhere.
    I had my wife's Odyessy Touring edition shipped down from North east a few years ago for about $500 since the folks here were asking at or above MSRP when it first came out. I found discounts up in the NY, PA and CT area from larger dealerships and the 500 shipping fee was more than covered by the difference in price in the first year of the lease.
    Of course, with gas prices up I imagine the cost to ship is also increased.
    I will be home later tonight and will try to see the actual invoice price and let you know

    Dan
  • docmridocmri Posts: 25
    It was 15710.
    I am not sure why the price was so good...They were offering $2500 discount on almost all Mazda's on lot so they must be getting some bulk discount or the dealers have a larger behind the scenes rebate than we are aware.
    I
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