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Mazda6 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jvpr. I don't know what the exact cutoff is in terms of credit score for Mazda's and BMW's lease programs. Having said this, I suspect that you will not have any trouble getting approved to lease a vehicle through either of them with a 670 credit score.

    Car_man
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  • jvprjvpr Posts: 48
    Thanks Carman! I've wanted a beemer since I was 10 when I saw my first beemer, a 320i that my parents realtor drove in the early '80s... I'm in Miami and BMW is what all the Cubans drive down here...
  • Hello, everyone!
    I'm hoping someone can help me out: I am considering a 2006 Mazda 3i 4door sedan w/ touring (white/tan gut :shades: ). The local Mazda dealership (Partyka Mazda in Hamden, CT) told me about Mazda's AVP Plan (Assured Value Plan). Evidently, it's somewhat like a lease agreement but I will own the car -- it is in my name.
    Does anyone know anything about this plan? What are the pros and cons?
    Thanks!!
    -CarCutieCT
  • Hey,

    I was wondering what the residual and money faactor is for a Mazdaspeed6 GT for a 2yr 12k lease? Thanks.
  • audia8qaudia8q Posts: 3,138
    its a purchased set up like a lease....but the lease program is actually better for folks in connecticut. Let me start off by saying....If a lease isnt for you...then the AVP isnt for you either.

    The pros are somewhat basic...sales tax is paid in full so you can trade the car in and take the sales tax advantage. Also the car is registered to you personally not the leasing company (not really an advantage). You can carry lower limits of insurance but most folks don't carry the minimums on a new car anyway...

    the cons are also basic...There is lots of structure to the deal..like mileage restrictions and if you don't buy it at the end of the term (most don't) the car must go thru an inspection. Any wear and tear must be paid for by you....so if it needs tires or has some scratches your responsible.

    AVP and other balloon purchases like GM smart buy, ford's red carpet option, Mazda AVP, etc.. were set up to address the vicarious liability that we have here in CT and some other state...nothing fishey about it, just be well informed before you jump into a lease or AVP.
  • foghat81foghat81 Posts: 5
    Question for Car_Man:

    This is the current "special" lease as reported on edmunds:

    $292 Monthly Payment
    24 Month Term
    $2000 Down Payment
    $300 Security Deposit
    12000 Annual Mileage

    Restrictions Lease is based on the 2006 Mazda6 sedan s Sport with AT2 and CE1 options. $2000 is combined $1500 manufacture and $500 finance cash.

    Comments Dealer may contribute up to $1,000 for the $292 monthly payment lease. $2,592 is due at signing. Incentives may vary; see your local dealer for details. Tax, tags and insurance are extra.

    So would I still be responsible for the $2000 down or is it cash from the manufacturer? I know I'll need the $592 at signing, but I'm confused on that $2000 --- two dealers have given me two different answers!!!

    Thanks for your help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi foghat81. The way this advertised lease is worded is a little strange. Mazda is providing $2,000 lease cash on the 2006 Mazda6. This incentive is completely paid for by Mazda and does not come out of consumers' pockets. I'm not sure why Mazda isn't just calling this a $0 down lease because that is essentially what it is. Calling it that would make it look even more attractive.

    Car_man
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  • tac379tac379 Posts: 6
    Hi Car_man,

    Wondering if you could help me out a bit. I'm looking for the current money factor and lease residuals on the MazdaSpeed Mazda6. Are they the same as the normal mazda6? I'm interested in the #s for both 12K and 15K miles, for both 2 and 3 year lease terms.

    Also, is the lease cash from the mazda6 available on the speed6?

    Thanks!

    Tom
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Tom . If you were to lease a 2006 Mazdaspeed Mazda6 Sport through Mazda Credit (that's a lot of Mazda's for one sentence :) ) right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00171 and 60%, respectively. The numbers for an otherwise identical 36 month lease should be .00256 and 50%. If you were to lease this car with only 12,000 miles per year, its residual values would be 2% higher. Mazda is currently providing a total of $2,500 lease cash on this car right now. Make sure to take it onto account when negotiating your vehicle's capitalized cost.

    Car_man
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  • hartthartt Posts: 79
    I'm looking for both 24 and 36 months with 15,000 miles a year on the Grand Sport and Grand Sport Touring.
    I saw the numbers posted for the MazdaSpeed. I'm hoping they are the same.
    Thanks!

    Tim
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, Tim. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2006 Mazda6 i Grand Sport Sedan with 15,000 miles per year are .00226 and 59%, respectively. The numbers for an otherwise identical 36 month lease of this car are .00276 and 50%. When negotiating your lease on this car, make sure to take the $2,000 lease cash that is currently available on it into account. This cash will help you to negotiate an attractive capitalized cost.

    Car_man
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  • Car_man,

    I'm looking at a Mazda6 S 5 door Sport AT w/Bose & Moon roof. What are the current lease money factor and residual for 24 and 36 month leases with 12,000 miles per year? Also, what lease cash is available?

    I went to a dealer tonight and they quoted for 24 month .0012 and 56% and for 36 month, .0021 and 48%. They were pretty shady. They started off by quoting for the 24 month, $594/month and $717/month for 36 months. UNBELIEVABLE!!

    Going to another dealer tomorrow. Already received an internet quote for this car of $23,200; down $4,000 from MSRP.

    Thanks for the help!
  • 71bug71bug Posts: 1
    Dear Car_Man,

    I am looking to lease either a 2006 Mazda6 Sport wagon Sport Model, or Grand Sport Model. I am curious to what the current lease factor and residual would be for both based on a 36 month, 12K miles per year lease. Both would have Auto Trans, Roof Rack, and rear bumper step plate options. Thank you!! Dan
  • Greetings mbartels11. You were quoted over $700 a month for a Mazda6?!?!?! YIKES :surprise:. That's way too high. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2006 Mazda6 S 5-Door with 12,000 miles per year are .00070 and 57%, respectively. The numbers for an otherwise identical 36 month lease of this car are .00151 and 48%. When negotiating your lease on this car, make sure to take the $2,000 lease cash that Mazda is currently providing on it into account. It will help you to negotiate an attractive capitalized cost. I would be happy to estimate what this car's payment should be for you if you provide me with its full MSRP and approximate selling price.

    Car_man
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  • Here's the information that you're looking for, Dan. Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Mazda6 Sport Wagon Sport model with 12,000 miles per year are .00240 and 44%, respectively. The numbers for an otherwise identical lease of a 2006 Mazda6 Sport Wagon Grand Sport model are .00240 and 48%. When negotiating your lease on either of these models keep in mind that Mazda is currently providing $2,500 lease cash on 2006 Mazda6 Wagon models.

    Car_man
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  • Car_man,

    Any details on the current money factor and residual value for 2006 Mazdaspeed6 Grand Touring? With $3,500 mfgr rebates, looking at 24 month and 36 month lease options. Thanks.
  • Like bendz33, I'm trying to figure out the money factor and residual value but for the Mazdaspeed 6 Sport. I'm looking for a 36 or 48 month lease with 10,500 miles (lowest available)(I have a short commute). The dealer is quoting me about 350 with 1500 down. Any thoughts or info would be really helpful.

    Thanks for your help,

    Simon
  • Car_man,

    I should have specified mileage allowance as well - I'm looking at 12,000 per year. I've received multiple quotes from dealers in the Northeast and the best info I have is the Residual on 24 mos/12K milage = 58% and the MF on the 24 mos / 12K mileage = .00113 (2.71%) - sound about right?

    Simon - I was quoted 49% residual value on a 36 mos/12K mileage lease with a money factor of .0018 (4.32%) if that helps.
  • Looking at this car for leasing and was wondering what the basic parameters to expect for:

    - 24 Months
    - 4K down (including drive away costs)
    - 12.5k miles per year (I don't commute so I'll be using those miles for hitting the mountains on the w/e).

    Assuming good credit and I get em down to around $28k incl a few throw away options like floor/cargo mats etc.

    I'm guessing I need the depreciation estimate for the '07 models and money factor for work the equations?

    ~ Steph
  • Here's the info that you're looking for, bendz33. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2006 Mazdaspeed6 Grand Touring with 15,000 miles per year are .00113 and 56%, respectively. The numbers for an otherwise identical 36 month lease are .00130 and 47%.

    Car_man
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  • Hi Simon. Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Mazdaspeed6 Sport with 10,500 miles per year are .00130 and 52%, respectively. The numbers for an otherwise identical 48 month lease are .00244 and 42%. When negotiating your lease on this car, keep in mind the $3,500 lease cash that is currently available on it. This cash will help you to negotiate a very attractive capitalized cost for your lease. I would be happy to calculate what this car's lease payment should be for you, but in order for me to do so I need you to provide me with its MSRP and approximate selling price.

    Car_man
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    P.S. I'm jealous of your short commute ;)
  • Hey bendz33. Mazda Credit's 12,000 mile per year residual values are 2% higher than its 15,000 mile per year residuals.

    Car_man
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  • Greetings Steph. Let me begin by saying that $4,000 is way to much money to put down when leasing. I always advise consumers not to make any sort of down payment on leased vehicles. I do so because if their leased vehicle is totaled in an accident or stolen and never recovered, their down payment essentially disappears. You can and should lease this car' only having to pay its first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, Mazda Credit's $475 acquisition fee, and any required state taxes or fees at signing.

    As far as what to expect for this car's lease program goes, Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Mazda6 s Grand Touring Wagon with 15,000 miles per year are .00116 and 51%, respectively. If you only need 12,000 miles per year, this car's residual value would be 2% higher. Unfortunately, Mazda does not have a 12,500 mile per year option. If you really drive that much, you will either have to lease with 12k and pay an excess mileage fee at lease-end or just lease with 15k. When negotiating your lease on this vehicle, keep in mind that Mazda is currently providing $2,500 lease cash on 2007 Mazda6 Wagons. This cash will help you to negotiate a very attractive capitalized cost for your lease.

    Car_man
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  • Wow thanks for the info and advice car_man. I greatly appreciate it. I hadn't thought about the totalling effect on the car - does that apply even with insurance?. My strategy was just to reduce the lease cost per month by paying more of the capital up front.

    Hmm lots to think about.

    By comparison I was offered the following lease on a different car that I'd previously thought outside my range:

    Merc 2006 R500
    Black/ Macadamia Leather
    18'' Wheels
    317 Comfort Package
    318 Trim Package
    320 Entertainment Package
    324 Sunroof Package
    MSRP: $60,630
    Capcost: $52,900
    Residul: $40,623
    Lease option: 27 months, 12K miles per year, $4,999 drive off (including 1st monthly payment) monthly payments @ $370 plus fee's "tax" = $399.99 monthly.

    Which seems a great offer or am I being gullible?

    ~ Steph
  • Thanks for the info - I went ahead and leased at the mf/rv you advised. Good to validate the dealer was upfront with me - that's why I went with them. 2006 Mazdaspeed6 Grand Touring, moonroof, compass/dimmer mirror, CE3 emissions, all weather floor mats, 24 months/12,000 miles: no money down, $24,750 cap cost, 58% RV, .00113 MF. Had to pay acquisition fees (worked on it, but didn't get it out), reg, title. Picked it up last night. So far, a lot of fun for a reasonable price - I think I'll enjoy it for the next 2 years. Thanks again for responding.
  • Are these figures (MF & RV) still valid? Does it matter where I live? (I live in FL)

    I'm looking to do the 24 month lease on the Speed6 GT. Standard 12k miles, etc.

    Thanks...
    Ed
  • I'm by no means an expert on this. All I can say is get an offer from a dealer to see what they say their MF & RV and then counter with these figures. I got to these figures through negotiating with 3 dealers in MA. Always good to say you have another dealer giving you these figures as a negotiating tactic. Good luck. It really is a fun car for the money.
  • What was the total 1st payment to begin? The dealer I shopped with had 1st payment totaling a bit over $4000. That includes 1st month, and $300 security. It sounded like a lot to pay for the privilegde of renting a car for 2 years. How much did you monthly lease payment amount to?

    I'm just learing the arcana of leasing and do not want to get taken. How much do I truly have to pay in upfront taxes and fees? (I'm in CT, but can travel to any nearby state to purchase/lease a vehicle).
  • My 1st payment consited of my first month payment ($424.44) and the $249 documentation fee and $83.50 for state registration and title. Total: $757.94

    (no security deposits, no cap cost reductions, etc.)

    My monthly payment brokedown as follows:
    Base payment (depreciation): $287
    Monthly interest (MF: .0013): $58
    Other fees amortized over lease (acquisition document fees and MA excise tax): $59
    Tax (5%): $20.44
    Total: $424.44

    In MA we have an annual excise tax, which is calculated off MSRP. Some leases don't include this, Mazda does - this is about $830 for the 2 years of the lease. The acquisition fee of $595 is charged by Mazda leasing for doing the financing/lease paperwork - this is a negotiable fee.

    Good luck.
  • Thanks, that helps. It seemed rather strange to pay 1000s for the privilege of moving Madza's inventory.
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