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Mazda6 Lease Questions

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  • There seem to be additional upfront fees asked in CT. Does anyone know why?
    On a previous Mazda corp internet ad, I saw upfront payment of about 800 more in CT than in other states. Now, on Mazda's page I see "Leases are not available through Mazda American Credit for customers and dealers in New York State" (this page:) http://www.mazdausa.com/MusaWeb/displayPaymentEstimator.action?vehicleCode=MS6&m- odelYear=2006
    I have no problem with a scenic drive to any NY/NE state to save $800.
  • Car_Man,

    Can you reccomend an online or print guide to leasing? It seems that there are quite a few caveats regarding it; fees tacked on upfront, potential liabilities at lease end, and possibly difficulties purchasing the vehicle at lease end (harder to finance a used car).
    Still, I'm attracted to a lease for 2 reasons: 1, the model I'm looking at (Speed6) has unsold 2006 inventory, and the mfr will probably subsidize the lease to move the last few, and 2 I want to use the savings from a lower monthly payment to reduce other debts. Leasing does appear better suited to a business than an individual buyer for the most part.

    thanks
  • www.leaseguide.com has all the details you'll need to know for free. They also provide a paid version with premium features.
  • We received a fast lease quote last night and now are a bit confused as to what additional info we need. We have the S-plan, offered to pay $1000 down and with the $2000 available for rebates, we were quoted $359 per month for 24 months with 10,500 miles/year, on a msrp of $23,640 with a residual of $15,626. I need to ask more questions about lease costs but using the web calculators, it "feels" like a huge interest rate. Can you share the current money factors and residuals you have access to from Mazda Credit, please? Also, how about using an outside leasing company - any benefits (we would lose the $1000 rebate if not Mazda Credit)? What would you suggest we can still negotiate on? mom2two
  • Car_Man;
    I drove a 2007 Mazda 6 i Value Edition Automatic yesterday in Maryland and was very impressed. Looking to do a 3 year lease with 15K miles/year on a Value Edition or Touring 4 cylinder and am being told that the residual is 54% and MF is 0.00299 from MAC. The dealer figured in the $1500 MAC cash for leasing when proposing a monthly "sign and drive" payment with tax and fees rolled in. Deposit ($350) and first month due at signing. Payments weren't too bad, but suspect the MF is high.

    First car is a 2007 Mazda 6 IVE Auto, MSRP $20925, delivered $19999 before MAC cash.

    Also interested in a 2007 Mazda 6 Touring Auto, MSRP $23015, delivered $21949 before MAC cash.

    What is the expected MAC residual and MF for these cars? I'm looking to do the buy before 11/30 for the MAC cash. Thanks very much!
  • You're very welcome, Steph. Yep, even if you have insurance if your leased vehicle is totaled in an accident any down payment that you made is gone. You're not being gullible about the Mercedes-Benz R-Class. Mercedes is having a really hard time selling this model, plus it is trying to break its sales record by selling as many vehicles as it can before the end of the year. It is running some amazing deals on the R-Class right now. Like before though, nearly $5,000 is way too much money to pay at lease signing. You should only have to pay this truck's first month's payment, security deposit, acquisition fee, and any required state taxes or fees at signing. This probably amounts to closer to $2,000 than the $5,000 that was used in the deal that you were quoted. Furthermore, you can definitely beat this deal. The capitalized cost that you were quoted is not nearly low enough. Mercedes-Benz is providing a whopping $10,000 dealer cash on the 2006 R500 right now. Try to negotiate a price that's close to dealer invoice and then subtract the ten grand and you'll have a heck of a deal.

    Car_man
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  • You're very welcome, bendz33. Enjoy your new ride.

    Car_man
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  • Hi Ed. Mazda's lease program does not vary by region. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2006 MazdaSpeec6 GT with 12,000 miles per year are .00113 and 58%, respectively. When negotiating your lease on this car, make sure to take the whopping $4,000 lease cash that Mazda is currently providing on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • I certainly can, pegasuszz. The following articles that are available here at Edmunds.com contain just about everything that you would ever need to know about leasing: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. Check them out and let me know if you have any other questions.

    Car_man
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  • Hi mom2two. Given the fact that you are able to purchase, or in this case lease, this car through Mazda's S-Plan you should be getting a good deal on it, price-wise. Still, it would be a good idea to find out the exact selling price of the car that you want before finalizing your deal.

    As far as 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 i Sport VE with 10,500 miles per year are .00280 and 66%, respectively. It is difficult to say if any independent bank out there has a more attractive lease program than this on this model. If you were to lease through an independent bank, you would lose out on any bonus cash for deals through Mazda Credit, but you would be able to take advantage of any normal customer cash that is available, when you wouldn't have been able to on a Mazda Credit lease.

    Car_man
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  • Hi somd_driver. I wouldn't worry about the lease cash that is available on this car going away. While it is difficult to predict what automakers will do with their future incentives, they generally increase as the model year progresses. The lease cash that is currently available on the 2007 Mazda6 doesn't strike me as some sort of special promotion that will only be available for a limited period of time. Disclaimer: there's no guarantee that this cash will be extended, but I suspect that it will ;) .

    Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Mazda6 i Sedan Value Edition with 15,000 miles per year are .00245 and 54%, respectively.

    Car_man
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  • Hi Car_man,
    Has the lease rates for December change much? I am looking for a 36 month lease and 12k miles per year. Also, what kind of rebates can I expect when purchasing with a lease.
    Thanks,
    FeDriver
  • Hey FeDriver. Mazda's lease program for the Mazda6 varies by trim level. For now I will assume that you are interested in leasing a 2007 Mazda6 sedan. Mazda's buy rate lease money factor for a 36 month lease of any '07 Mazda6 Sedan is currently .00234. The '07 Mazda6 Sedan's residual values vary by trim level. To give you an idea of what they are currently like, Mazda Credit's current 36 month, 12,000 mile per year residual for the '07 Mazda6 i Sedan is 54%. Let me know if you want a different model and I will tell you what its lease program is like. When negotiating your lease on an '07 Mazda6 sedan, make sure to take the $1,500 lease cash that Mazda is providing on it into account. This cash will help you to negotiate an attractive capitalized cost.

    Car_man
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  • I'm looking at a mazda 6, either S-touring, or S- grand touring. Would you mind filling me in on what I should expect to the cap cost to be for the cars? I'm assuming no accessories, just base. Also, what type of incentives are they giving. One local dealer has a '06 mazda 6 MSRP $24,620 less MFG REBATE -$2500, less MAC rebate -$1000, plus a dealer incentive of $3030 for a total of $18,490. Should I expect the same type of discounts throughout the entire 06 line? Also, if you could look at the Residual %, and MF for 36 month/15,000 mile lease it would help. Thank you for all your help, not only for me, but for everyone that comes here looking for advice.
    You are a god send.
  • dotsyncdotsync Posts: 19
    Hi Car_man,

    It's the beginning of the new year I'm looking at leasing a 2006 Mazda Mazda6 4dr Sedan s Sport. I need to know the residual, money factor, and any lease rebates/dealer cash that would apply to this vehicle. I'm looking at a 36mo/15k lease with nothing out of pocket.

    Also, in your opinion, is a lease or purchase stronger on this vehicle? The salesperson I was dealing with today seemed to think that leasing wasn't even worth looking at and the buy was stronger. He was saying I should buy with rebates ($2750) plus take the high rate from Mazda (~9%) to get the financing rebate ($1000). Then refinance 3 months down the road with my own credit union. He seemed to be pushing this approach and it sounds like a crock of crap to me.

    Thanks!
    Nick
  • Hi daddypost. Mazda is no longer providing lease support on the 2006 Mazda6. However it is currently providing $1,500 lease cash on the 2007 Mazda6 Sedan. If you were able to negotiate a selling price of $500 over invoice and then have this lease cash subtracted, your car's capitalized cost would be at around $1,000 under invoice. You definitely should stop by the following discussion to see how much other community members have paid for these cars lately: "Mazda6: Prices Paid & Buying Experience".

    As far as these cars' lease programs go, Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Mazda6 Sedan s Touring with 15,000 miles per year are .00240 and 48%, respectively. The numbers for an otherwise identical lease of a 2007 Mazda6 Sedan s Grand Touring are .00240 and 46%.

    Car_man
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  • Hi Nick. Unfortunately, Mazda is not longer providing lease support on 2006 models. As a result, if you really want to lease one you would have to do so through an independent bank. You probably would be better off leasing a 2007 model at this point and paying cash for or financing a 2006 model. Mazda is providing a special $1,000 bonus on this car for consumers who finance one through Mazda Credit using its standard finance rate, which is terrible. If you want that route you definitely would want to refinance your car in a month or two. That is a lot of hassle and I don't know what the interest rates are like for refinancing vehicles right now, but by doing this you can get an extra grand off of this car's price.

    Car_man
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  • There seems to be a pretty decent lease offer available from Mazda right now. The 07 Mazada 6 sport value edition on a 27 month lease for 199/month, based on MSRP of 21195 and cap cost of 16995 and 2000 down.

    Is that a decent deal? And should I be negotiating it further? How can I find out things like the residual and money factor for current leases?
  • Car_man
    In my area there is a dealership offering 8k off the 2 remaining ms6gt's they have in stock. The one I am looking at msrp s at like 31600. I am looking at leasing for 2 years and 12 or 15k. I am pretty sure they will honor the discount in the ad, but I was trying to get a feel for money factor and residual before I get down to brass tacks. I do not know where to find that on my own. I also would hope Mazda Credit would help with the lease for a better money factor.
    Thanks
  • Ok, I may be going through with this deal tomorrow, but I'd love to hear anybody's thoughts before I do.

    2007 Mazda6 Sports Value Edition
    MSRP 21125
    Offered price 16995
    MF .0029
    65% residual

    There's a 1801 security deposit which I'm not thrilled with, but I can tolerate. 199 for the first month's payment, plus since I'm in Illinois, you have to pay taxes on the entire care which comes out to 1387. 143 for plates as well.

    So I'm putting out 3530 up front, but I'll be getting back the 1800 from the security deposit on the back end.

    When all is said and done, it's 199/month for a 27 month lease.

    Seems like a good deal to me. Any thoughts or advice??
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