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Mazda6 Lease Questions

1568101126

Comments

  • krwest1krwest1 Posts: 66
    You're welcome. I think the S plan price is right around invoice, so that's a very good price without having to do any negotiating. You may be able to get below that by negotiating on your own, but it's up to you if it's worth the hassle.

    Your payment will go down about $4 per month for each additional $100 you put down. However, the money factor on this lease is so low (around 1%), that you would be better off not putting any money down except the first month's payment. Put the money into an online savings account and earn 3 or 4%, and take money out each money if you need it to help make the payment.
  • adreasadreas Posts: 6
    Thank you again for your help. I've worked everything out on my own instead of using Mazda's online calculator, but I still am getting incredibly low numbers. I've been quoted on a Mazda3 this time for a residual value of $11,647 after 24 months. Using the S-plan pricing of the trim I'm looking at, which comes to $15,539 before tax and fees, I added $635 destination charges and $300 in fees. The price comes to $16,474. I then applied 6% sales tax and used a money factor of 2% (0.00048). I also used the $500 lease cash currently offered on the Mazda3 as down payment. After working everything through several times to ensure mistakes were not made I came up with a monthly payment of $205.16. This is without placing a down payment of my own and at 12,000 miles a year.

    After adjusting my last work to compensate for the lease cash, I also came up with $228/mo for the Mazda6. So I know I'm working this out right on the Mazda3. That is, unless, the lease on the Mazda3 is not at a similar money factor as the Mazda6. Any advice? My dealer is trying to get me to lease a Mazda3 at $216/mo with $1500 down. I'm also aware he did not include the $500 lease cash in his calculations. He also used a money factor of 11.95% (0.002868)!

    What should I do? Thanks.
  • krwest1krwest1 Posts: 66
    What is the MSRP of the Mazda3 that you are looking at? What trim level (i Sport Sedan, i Touring Wagon, etc.)? I can tell you that the money factor on the Mazda3 is substantially higher than the Mazda6. It's somewhere around .00225 (5.5%) for the i Touring. By the way, money factor X 2400 equals interest rate. Your calculations were backwards. For example, if the money factor on the Mazda6 is .00048, the effective interest rate is .00048 X 2400, or 1.152%.
  • adreasadreas Posts: 6
    Ok, I notice where I went wrong now. I was told to use a different equation to figure for the money factor. I see that it's the wrong way. It's not the math that's hard, I take advanced math courses, but you'll screw up either way if you're using the wrong formula. I am looking at the Mazda3 i Touring (manual) and Mazda6 i SVE (manual). I reworked according to your equation and came up with $218.48/mo on the Mazda3 with $1,500 down including the lease cash. At $2000 down, including lease cash, I am at $195.21/mo. This is for a 24 month lease using 12,000 miles per year. Could you help me with the Mazda6's figures? Thanks in advance!
  • brandj5brandj5 Posts: 7
    Could someone please provide the current money factor and residual value on this model? The MSRP is roughly $21450.

    Looking for numbers on 24 & 36 month leases - 12K miles per year.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi brandj5. Interestingly, it does not appear as though Mazda is providing lease support on the Mazda6 in July...at least not nationally. This means that you probably don't want to lease this car right now. If you really want to get a Mazda6, take advantage of its new aggressive special financing program and finance it at 0% for 5 years instead.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hello Car_man,

    Can you please post the money factor and residuals for:

    2009 Mazda6 i Touring, 24/36 months, 10500miles/year

    2009 Mazda6 i Grand Touring, 24/36 months, 10500miles/year

    I would like to have this information before I contact the dealer.

    Thanks for your help.
  • Hello gene66. Here's the info that you're looking for. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of any 2009 Mazda6 i with 10,500 miles per year are .00189 and 68%, respectively. The numbers for an otherwise identical 36 month lease are .00185 and 58%. When negotiating your lease on this car, make sure to take advantage of the $1,250 cash incentive that Mazda is currently providing on leases of it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car Man,

    What are the current lease rates for a 24 month lease with 12K miles per year?
    and for 36 months with 12K miles?
    I assume these apply to the new Mazda6 (and not the old one).

    How much is the acq fee? Are there any fees (other than ttl) that I should be aware of eg sec deposit, doc fees etc?

    Are there any other incentives other than the $1,250 - I understand some dealers are selling at S plan rates and that there is some sort of 'loyalty' rebate as well?

    Thanks
  • Hey guys,

    I JUST picked up my 09 Mazda 6 i Grand touring today in silver.

    The deal i got was, 12k miles for 24 months, 600 dollars down and 375 per month with first month, tax, reg, all included. Buy out at the end is 18900.

    The best part is, the MSRP on my car is 28350 because i added the bose system. The dealer went 1000 below invoice and settled for the price of 25300.

    This was at Puente Hill Mazda, in SoCal
  • Hey all,

    just wanted to share that I just leased 2009 Mazda 6 i Sport in Manual Transmission.

    The deal I got was 1200 down, 15k miles/yr. for 312/month. for 36 months

    I got it from Palisades Mazda in Rockland County, NY
  • 09 i grand touring

    $500 down, 36m, 12k mi / yr$345 a month inclusinve

    tampa, fl
  • Hi mssurrey. The residual values for leases of this car with 12,000 miles per year are 1% lower than the residual values for a lease of it with 10,500 miles per year.

    The last time that I checked, Mazda charged an acquisition fee of $475 on leases in addition to a security deposit equivalent to your monthly payment rounded up to the nearest $25 increment. Doc fees are not required by Mazda. They vary from dealer to dealer and really aren't much more than a way for them to pad deals.

    Mazda is currently providing a $500 cash incentive on leases of the 2009 Mazda6. I believe that is is providing an additional $500 loyalty incentive to current Mazda owners as well.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks for taking the time to share the details of your leases s1monxsayz and jayp130. Real world examples like these are always helpful for community members who are in the market for similar vehicles. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new rides :shades: !

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • gusbufgusbuf Posts: 23
    I am interested in the October numbers for leasing a new 2009 Mazda6 S Grand Touring, 12,000 mi/yr, for both 24 and 36 month terms. Thanks!
  • aviboy97aviboy97 Posts: 3,159
    2009 Mazda6 s Grand Touring Lease through Chase.

    59% for 24 months. Money factor 0.00109
    50% for 36 months. Money factor 0.00063
  • Great info, aviboy97. Thanks for sharing. Those numbers match the ones that I have seen for this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Can you post the current residual and money factor for a 2009 6i Touring (preferably through Mazda Credit). for 36 months, 12k mile?
    Or is it the same as for the 6s Grand Touring listed above.

    Thanks
  • Here you go, soonere39. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Mazda6i Touring with 12,000 miles per year are .00063 and 52%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • cl1cl1 Posts: 2
    i leased a mazda 6 grand touring s v6. got the works except nav . great car silver with black leather. 800 down 24 mos 12000 miles 454 per month first month, tax reg all included . interested to know how others did. my email is crl1603@yahoo.com
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