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Mazda6 Lease Questions

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  • igozoomzoomigozoomzoom Waleska, GeorgiaPosts: 797
    Over Memorial Day weekend, Mazda had some pretty awesome lease specials listed for every trim level of the 2014 Mazda6. The one for the GT was $308/month for 36 months, $2200-ish due at signing, 10k miles per year...how does that compare with what I'd pay if I walked into a dealer today with $2200 in hand (1st payment included) and wanted a 36-month lease with 10k miles per year allowance?
  • gee22gee22 Posts: 82
    My deal was in April so it's apples to oranges but I will try to get it down to all apples as best I can. My lease was $360 with only first month payment due at signing for a GT with MRCC/FOW package. If I back out registration and tax, it would be about $332. It was for 12K miles, so I'll assume a 1.5% difference in residual. That would have brought down my paYment to $320 if I did 10K. The MRCC package added about $8 so if take that out, I'm at $312. This deal requires $2,200 due at signing (but check the fine print, it may not include dealer fees). Subtracting the $308 payment leaves about $1,900 and if you did not put in that down payment into the lease, the payment would go up $57 to $365. That's a difference of $53 between this deal and mine adjusted. I figure about $5 of that is due to an increase in the MF from Apr to May so $48 of the $53 relates to dealer profit so ballpark, I think he's making about $1,500 more on this deal than mine. Awesome, but unfortunately, for the dealer :(
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks and you're very welcome westisbest :) . Chase's current buy rate lease money factor and residual value for a 36-month lease of a 2014 Mazda6 Grand Touring with 12,000 miles per year in California are .00027 and 59% for consumers who qualify for its top credit tier.

    The numbers for a 24-month lease of this car would be .00049 and 69%.

    The residual value for a lease with 10,000 miles per year would be 1% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    A quick aside about doc fees. Doc fees are junk. They're nothing more than a way for dealers to pad their profit on deals. Before anyone jumps on me for bashing dealers, I'm not. I have the same opinion about destination charges that manufacturers deceptively split out on new vehicle prices.

    The price should be the price, without any tricks ad trinkets to make it appear lower than it really is. Look at the doc fee as part of the vehicle's total selling price. It doesn't matter how the fees break down as long as you're getting the vehicle that you want for the lowest total selling price.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mbl_carguymbl_carguy Posts: 11
    Was just offered the following (I am in NC):

    The MSRP - $25,290 (Touring model, no option packages)
    Sale Price - $24,000
    36 month lease, 10k miles per year
    Money Factor .00085
    Residual 58%
    Due at signing: $334 ($0, only first month payment)
    Monthly Payment: $334

    Is this an ok deal? I've seen some slightly lower money factors and though the residual with 10k miles / year would be a little higher, but I'm thinking it's not the worst either? Car_Man, does this line up with the data you have?

    Thanks.
  • My reflex blue mica Mazda 6 GT with radar cruise control stickered for $31,290 here is Los Angeles. Dealer had Lo Jack installed already on the car, so the total sticker was 31,885.
    With A+ credit tier, I leased it for 36 month/10k miles with $1385 out of my pocket TOTAL, and my payment is $322.00 a month. Love the car. =]
  • ral2167ral2167 Posts: 642
    can you share:
    sale price
    residual
    sales tax rate (unless tax was included as part of the $1395)
    money rate
  • igozoomzoomigozoomzoom Waleska, GeorgiaPosts: 797
    I love the Reflex Blue also. Just curious, did you get the Black or Almond interior?
  • gee22gee22 Posts: 82
    That residual looks low. My guess is that he is using a third party leasing company where he's making some additional fee rather than using Chase (Mazda Capital Services). Does the $334 include taxes (and if so, how does NC tax leases?), registration, doc fees and lease inception fee. Really can't comment without understanding all the components.
  • Residual value for my Mazda 6 GT, after 36 month with 10k miles annually is 60%, here is SoCal. Sales tax is 9.25% - my $322 payment includes sales tax. Money rate is 0.00027. Sales price was couple of hundred dollars below $30K - don't remember exactly, and don't have docs in front of me. I also get a $1000 loyalty from Mazda because there is another person in the household who's currently leasing Mazda. As long as registering address is the same, one qualifies for this $1000 in loyalty. If not the damn Lo Jack My payment would have been low $300's.

    Got at Galpin Mazda
  • Of course Almond:) Priceless combination! With my heavy foot, getting 20.9mpg city
  • So MSRP was $31,290. Invoice on the car is $29,881. Margin is about 4.5%. They really don't have that much profit in them.
  • igozoomzoomigozoomzoom Waleska, GeorgiaPosts: 797
    They really did a great job on the interior but the Almond really makes it stand out. I love the way the seats have the black backing and the dashboard/console is still black, but the seats and doors have the two-tone effect. Very upscale and looks better than many cars costing $40k+. The only questionable element is the trim piece that runs across the dash...but I'm sure I could learn to love it.

    I have a 2012 CX-9 GT but I will probably be trading it on the upcoming diesel Mazda6. As long as it comes in Grand Touring trim and looks the same. I've been a Mazda owner for almost eight years (2006 Mazda3 5-door before the CX-9). It's very impressive to see what they can do without being limited by Ford or compromising their design so Ford could water it down and/or stretch it in every direction and make a mediocre product from it.

    Sales of the 2014 Mazda6 in May were 3,944, the best May sales figures since 2008. Their sales goal is only 30,000 for 2014. As of May end of month, they're sold 17,828 but that figure also includes 2013 models. Still, if sales continue at 4k per month, they'll sell another 28k before year end.

    I bought the CX-9 because I wanted something distinctive that I wouldn't meet on the road every five minutes. I've heard other 2014 Mazda6 owners talk about the attention their cars get and how people compliment and ask questions about it. Somehow, I feel confident that never happens to Accord and Camry owners.....
  • mbl_carguymbl_carguy Posts: 11
    Nc only has 3% sales tax on leases. The 334 pmt includes all taxes, acquisition fee, doc fee, registration.
  • gee22gee22 Posts: 82
    Ok, so at that MF and residual, the cap cost before tax would be $25,100. That's not bad. I would suggest you have the dealer break that out in detail and then tell him that he doesn't seem to be using Mazda Capital Services. Tell him to use MCS MF and residuals ( MCS has a $595 lease inception fee) using the detailed cap cost adjusted for the difference in the lease inception fees. Using Car_man's numbers which seem correct, you'd be paying under $300. Make sure you get the cap cost detail first so he can't say he made a mistake earlier. Good luck.
  • mbl_carguymbl_carguy Posts: 11
    Thanks - makes sense, and I was hoping to stay under 310.
  • benji123benji123 Posts: 61
    If OK with you, I'd like to contact Galpin and refer to your deal. Who should I ask for? Thanks!
  • luke111luke111 Posts: 5
    Hi Car Man, was is the June money factor and residual for a touring w tech packg in Pennsylvania? What would a decent cap cost be ? Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for luke111. Chase's June buy rate lease money factor and residual value for a 36-month lease of a 2014 Mazda6 Touring with an automatic transmission and 15,000 miles per year in Pennsylvania are .00027 and 56% for consumers who qualify for its top credit tier.

    If I was in the market for this car in an area that has a decent level of competition, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • epcivicepcivic Posts: 1
    Hi Car man, I'm planning to get a 2014 Mazda6 touring manual trans in a few days. What are the lease numbers in Ohio for a 12k lease and top tier credit? The money factor I've been quoted is not as good as others posted. I'm wondering if they are charging a different rate for the manual vs automatic? I've been quoted .00077mf and 57% residual. The dealer that quoted it didn't show the $595 acq fee, so I'm wondering if they are quoting a 3rd party lease. The acq fee was $427.

    I'm leaning towards buying, since the lease isn't working out to be as good of a deal as it seemed it would be.

    Thanks.
  • newman11newman11 Posts: 4
    hello all
    hope this will help. just leased silver GT MSRP $30,290 and i qualified for $1000 rebate as current mazda owner. $500 down + $332 (including Mass 6.25% tax) for 36 months and 12000 miles per year. this is including all fees and taxes.
    I think this was a good deal and I love the car.
  • benji123benji123 Posts: 61
    Just leased my first Mazda and loving it so far. Soul Red GT (MSRP $30,590) from Galpin in SoCal. 36 Months, 10,000 miles per, 0.00027 MF and 60% Residual. Selling price of $28,590. Rolled in fees to minimize drive-off to only 1st payment (no down, total drive-off of $354.03). Payments are $324.80 + tax.

    Thanks for all the helpful information here.
  • ral2167ral2167 Posts: 642
    So what is your monthly payment? You left that out. Unless we're to assume its $332
  • stlram28stlram28 Posts: 2
    I just picked up my 2014 Mazda6 touring and when I set the specs for the lease I was supposed to get the sirius radio installed at the dealer. I got a call this morning which is the day that I was supposed to pick it up and they said that Mazda does not make the part to put the radio into the sport or touring model. I do not know if they are just saying this because they were giving us the radio for free because we have been long time customers or if it is actually the truth. If anyone knows someone that works for Mazda or has any idea on how true this is I would like some information. I am also wondering if I get it installed in the dash now by a third party would it show up on the 5.8 inch screen in the car? I am assuming yes if the cars are equipped for the sirius set up.
  • stlram28stlram28 Posts: 2
    I am just wondering if you got any information from your buddy that works for Mazda about the satellite radio. I was supposed to get a satellite radio complimentary put into my new lease of a Mazda 6 touring because we have had so many cars from the same salesman. This morning which was the day in which I picked the car up they gave me a call and said that they can't put the radio in the sport or touring models for the 2014 Mazda 6 because the part needed for it is not made. I do not know if this true or they are just saying this so we do not get the radio. Also, if I go somewhere else and get one installed in the dash will it display on the screen already in the car. Since you stated that you read that all models are equipped to be setup with it I would assume that it should show up on the screen. I figured you would be a good person to ask for this situation and any information would be greatly appreciated.
  • ronny76ronny76 Posts: 1
    Please can someone that is familiar with how leases are priced help me evaluate whether the following lease payments are a good deal or not? Car dealership is in NY metro area.

    My lease is 20,000 miles per year for 2 years. Please take that as a given as I need these parameters.

    MSRP: $31,190 (2014 GT with FoW and MRCC)
    Invoice price : $29,421
    Residual: 67%
    Money factor: 0.00022
    Money down of $1,984 (made up of bank fee 595, tax 950, first months payment 439)
    Monthly payment (inclusive of tax): $439

    Any thoughts would be gratefully appreciated.

    Thanks!
  • ral2167ral2167 Posts: 642
    I'd go with a 4 cylinder camry XLE with a similar MSRP (or actually $1000 less but with similar features) with a money factor of .00001 and a much lower selling price. But if you prefer the mazda due to appearance/other, I have no opinion as to whether that's a good deal or not. Happy motoring whatever you do.
  • ral2167ral2167 Posts: 642
    That's one thing I don't understand-- how in heavens name does mazda only offer satellite radio in the top of the line grand touring. Ridiculous. Appears you got lied to about the satellite being able to be put into a touring. Correct me if I'm wrong.
  • gee22gee22 Posts: 82
    Using your numbers, it appears that the capitalized cost of the car to get you to $439 a month is around the MSRP. Based on posts, the car should sell for invoice +/- a few hundred. kbb.com says a fair price is $200 over invoice.
    Who is the leasing company? Is it Chase (Mazda Capital Services) or a third party leasing company. That money factor seems low and considering the residual percentage for a 36 month, 10K/yr is 60% (see post 408) these days, a 67% residual for a car with 40K miles, even only two years old, looks high. If it is a third party leasing company be careful, check out the disposition fees and know they will hit you with excess wear and tear charges that Chase would not. They have to make money somehow and they are not making it based on the MF and residual. Also, you should put all the fees into the lease. Should the car be stolen or totalled in an accident, you lose everything you paid at inception.
  • gee22gee22 Posts: 82
    ral, ronny wants a car with MRRC and FOW. That's radar cruise control and forward obstruction warning. Those aren't available on a Camry. The GT also has Bi-Xenon Adaptive headlights and the City Braking system similar to Volvo. Can't get them on a Camry. And the Camry received a Poor in the new Small Overlap crash test so I wouldn't want to be behind the wheel of one. Suggest you consider a Mazda6. It's worth a few extra bucks.
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