Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Mazda6 Lease Questions

11112131416

Comments

  • kydx,

    I hate to be a pain.. but could you also provide me with the money factor and depreciation % for a 24 month lease of the 2014 Mazda 6 Grand Touring?

    A dealer is quoting me 60% residual but a money factor of .000053 on the money factor. Thanks to you I know that's too high!

    Your help is so much appreciated!!! You are pretty much putting food in my newborn's mouth with every dollar you save me!
  • kyfdxkyfdx Posts: 28,679
    I show the 24 month numbers as .00044 and 70%

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Thanks a million!
  • kyfdx,

    The dealer is claiming that money factor is .00053 for a 36 Month Lease on the Mazda6 GT and cannot be changed because it is set by the bank.

    I have not applied for credit yet so they do not know my qualification. I told them assume top-tier.

    Is their claim of .00053 accurate for Rhode Island?
  • kyfdxkyfdx Posts: 28,679
    Yeah... If you'll note, you said you were from New England, and I listed the 4 states in New England which the numbers were for...

    Naturally, RI is different... well, not naturally, but it is.. .lol

    RI is indeed .00053

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Chase has higher lease rates in RI due to a drunk driver liability case that went against them a few years ago. Ridulous.

    Can kydx or anyone else explain Mazda's current $0 Due at Signing promo? Can the $0 first payment (Paid by Mazda) be applied to any lease term, or just the lease described in the disclaimer? I am looking for 36 months. I also don't see anything about the acquisition fee... Here is the text from the Edmunds incentive page:

    Requirements and Restrictions:
    Down Payment: $0
    Security Deposit: $0
    Lease Cash: $0
    Annual Mileage: 12,000
    $0 Due at Signing Lease is based on the 2014 MAZDA6 i Grand Touring. MSRP as equipped is $30,290. $600 Dealer contribution is required for the $357 monthly payment. First month's payment paid by Mazda for the Zero Due at Signing. Tax, tags and insurance are extra. Must finance through Mazda Capital Services.
    Monthly Payment Month Term Start End
    $357 39 08/01/2013 09/03/2013
  • gee22gee22 Posts: 82
    I didn't see any lease on the GT at the Mazdausa site so I can't comment on it specifically but generally when a manufacturer advertises a lease, it includes the lease inception fee. It would exclude dealers doc fees/DMV fees and taxes.
    Any lease can be made zero due at signing. In fact, they can be made to be truly zero due at signing by putting in all of the fees, taxes, etc into the capitalized cost.
    Since you lose anything you pay at signing should the car be stolen or totalled, I always recommend that you put everything into the lease and get 36 equal payments.
    btw, your ad says that a $600 dealer contribution is required. If you take a look back at the deals have been done over the past several months, seling price/doc fees have been running around invoice plus/minus a few hundred so the dealer would be making about an extra $1,000 on this lease.
  • kyfdxkyfdx Posts: 28,679
    I'm not real familiar with the ZERO Due at Signing lease, but it is a special lease that has special requirements... (and, of course, the benefit is Mazda picks up the 1st payment).

    As noted, you can make any lease a zero due lease... but, this is a special program from MCS that includes the free payment (it's not just rolled in to the lease).. and, the acquisition fee is capitalized into that advertised payment..

    It's not just RI that has those special MF numbers... more states than not, have that program..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • gee22gee22 Posts: 82
    Sorry, but I have to disagree with you regarding the free payment. I took the .00023 MF and 60% residual you provided the other day. The MSRP is 30,290 and so is the capitalized cost since the dealer must contribute $600 but that is offset by Chase's acquisition fee. If you use 35 payments, it comes to exactly the $357 that was quoted. If the first payment was free, it would need to be computed using 36 months. That would mean 35 payments at $348.
  • kyfdxkyfdx Posts: 28,679
    I can't vouch for your calculations... I can only tell you what Mazda's lease program states..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • gee22gee22 Posts: 82
    I know my calculations are correct. Try it yourself.
    Please tell me where I can find the terms of this lease where they indicate the first payment is free. I would like to challenge Mazda.
    Thanks
  • kyfdxkyfdx Posts: 28,679
    Well.. for one thing, leases aren't calculated on 35 months. So you have to start from there... You can capitalize the 1st payment, but the lease is still 36 months, not 35.

    The only place you can see the lease program is at your dealer, I'd think.. if they choose to show it to you.

    Something else to keep in mind.... the MF and residual I quoted aren't from the special "No 1st payment" lease. I don't have those numbers..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • If you notice in the terms I posted, it says "First month's payment paid by Mazda for the Zero Due at Signing." So it's still a 39 month lease but Mazda Capital Services (Chase) will probably credit the first payment on your statement.

    My question was could I get the dealer to do better than a $600 contribution, use a 36 month lease instead, and still get the the same credit on my first statement?

    Heck, I might consider 39 months if one of my extra 3 payments would be paid by Mazda...
  • gee22gee22 Posts: 82
    I understand it is a 36 month lease, but if the monthly lease payment was calculated based on a 36 month lease, the payment would be $348. If no payment was due at signing and then 35 payments at $348, I would agree with you. But the 35 remaining payments are $357, the exact amount it would be if a 35 month term was used. So it is zero due at signing and 35 payments at $357. The lessor is getting $324 more over the 36 month term than if they truly calulated it as a 36 month lease and waived one payment.
    Thanks
  • gee22gee22 Posts: 82
    If you are looking to save some money, you may want to inquire about a 39 month lease. When I first looked at the car in March, the residual for 39 months was the same as 36 months so the payments are less. The only problem is that it is out of the warranty period.
    Yes, you can do a lot better than $600. The payment is based on the capitalized cost of the car, the biggest piece is the selling price/doc fees. You negotiate that just like you would do a purchase. The difference is that he will be selling the car for that price to Chase who will lease it to you based on that price, rather than you paying the dealer directly for the purchase. The selling price should be at invoice or below right now.
  • Can anyone tell me what the requirements are to obtain the Mazda owner loyalty credit? I have a household family member who just had a Mazda up until 2 months ago.

    I recall seeing something somewhere like you had to have been a mazda owner or have a household member who was an owner within the past year or something???
  • gee22gee22 Posts: 82
    You need a current Mazda owner in the household but if you still have the registration, perhaps.
  • Closed my deal yesterday:

    Mica Gray '14 Grand Touring w/ Tech Package
    MSRP $32,820
    Negotiated Price: $30,000, minus $1000 loyalty = $29,000
    Mazda paid the first payment

    $595 acq. fee, +$215 doc fee, +$125 title & reg = $935 up front
    $321 per month including sales tax.

    Thanks for all the help here, especially kyfdx!!!
    The car is amazing!!!
  • Hi kyfdx,

    Could you please look up the September money factors and residuals for the 2014 Mazda6 Grand Touring and the i Touring auto in Pennsylvania for a 36mo/15k miles per year lease?

    Thanks!
  • Kyfdx,

    For a friend - looking at a 2014 Mazda6 i Grand Touring in Washington State. Looking for 24 months/12k miles a year.

    Is it still that .00044 and 70% residual?

    Thanks!
  • kyfdxkyfdx Posts: 28,679
    "Could you please look up the September money factors and residuals for the 2014 Mazda6 Grand Touring and the i Touring auto in Pennsylvania for a 36mo/15k miles per year lease? "

    MF is .00009 for either model.. 57% residual on the GT, 55% on the i Touring auto.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • kyfdxkyfdx Posts: 28,679
    I'm showing .00045 and 66% for 24mo., 12K/yr

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hey guys,

    I've been following this forum for a while and have learned a lot from it. I'm finally in a situation where I am working towards leasing a 2014 Mazda 6 Grand Touring car, and was wondering if I could ask for your feedback on the following deal I received from a dealer. The lease is for 36 months, 10,000m/year, $0 down. And this is in Georgia. Here we go:

    MSRP = 30,490
    Sell Price = 29,214
    Net Cap Cost (Including 631 in acquisition fee, title, and license fees) = 29,845
    State Tax = 6.5% (of the Net Cap Cost...Georgia law)
    State Tax = 1,939
    Residual = 59%
    Residual Value = 17,989
    Money Factor = 0.00039

    Monthly Base = 329
    Finance Charge = 18.7
    Taxes = 53.8
    Total Monthly Payment = $401.9 per month for 36 month

    Is this a good deal or can I do better? Any help would be appreciated.

    Thanks!
  • Plug your numbers into this lease calculator:
    http://www.theautoleasecalculator.com.

    Seems close to me, but about $70 more than I pay because that GA sales tax is a killer. Here they only charge 7% of the payment, which is fair since you don't actually own the vehicle and are not actually using the full value of it.
  • gee22gee22 Posts: 82
    $70 more because of GA sales tax? He’s paying $53 a month in taxes so unless your state is giving you a $17 sales tax credit, that’s not the reason. The reason is that you paid over $2,800 less than MSRP while he is paying only $1,276 less. Plus you got another $1,000 in Mazda loyalty and your residual is also higher than his. Feel free to advise people but you need to understand leasing a little better first. Glad I was able to save you money on your lease though you seemed to call out kyfdx for thanks.
  • reydreyd Posts: 2
    Kyfdx -

    I'm getting ready to pull the trigger on a GT this weekend. Can you provide September MF and residuals for Minnesota? 36 months/12K miles.

    For anyone that's interested here's the deal on the table...

    MSRP: 30,490
    Sell Price: 28,684
    Residual: 58%
    Residual Value: 17,684
    Money Factor: 0.00059

    Estimate Monthly: $343/Month for 36 months
  • kyfdxkyfdx Posts: 28,679
    edited September 2013
    .00009 and 58%...

    Looks like they are marking up your money factor by the allowable maximum.

    That adds about $22.50 to your pre-tax payment..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Can you please look up September money factors and residuals for 2014 Mazda 6 Touring in New Jersey - 36 mo. 12 k / yr

    Thanks!
  • kyfdxkyfdx Posts: 28,679
    .00009 MF and 56% residual, assuming it's an automatic..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

Sign In or Register to comment.