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Mazda Miata Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ec99. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a normal 2007 Mazda MX-5 with 12,000 miles per year are .00136 and 67%. Having said this, I do not believe that this special lease program is available on PRHT models. In fact, if I am not mistaken Mazda is not providing any support on the PRHT Miata. Sorry that I don't have better news for you. You definitely should check with a couple of dealers to make sure that this is the case.

    Car_man
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  • audia8qaudia8q Posts: 3,138
    Your correct...the std. lease rates apply to the hardtop. This makes the lease payments a bit lofty.
  • wsm1969wsm1969 Posts: 1
    I was hoping to find out money factors & residuals for

    Mx-5 touring for 24 through 36 months 12k

    &

    Mazda speed 3 sport model for 24 through 36 months 12k

    I did see Mazda had some specials on mx-5 sport model
    in my area (17055 zip) but none of the local dealers
    have any sport models to sell, just a few touring models
    left.

    any help would be great - Thanks
  • paulhuangpaulhuang Posts: 63
    Hello,
    I was wondering if someone might be able to give me some details on the MX-5 Miata lease deals available.

    I am interested in a manual transmission with the soft top. The trim level depends on the answers to my questions.

    Some of my specific questions are:
    1. What are money factor and residual % numbers. Are they the same for Sport, Touring, and Grand Touring? I noticed Edmunds has all three trims listed while Mazda's website only lists the Sport.

    2. What is the assumed purchase price? I have access to Ford's X-Plan (I think it's called S-Plan for Mazda). Would this further lower the payments?

    3. Do I have to put a down payment down on this lease? I am interested in doing this with 0 down and accept the higher payments.

    Thank you very much for your help!
    Paul
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the info that you're looking for, wsm1969. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 MX-5 Touring with 12,000 miles per year are .00129 and 67%, respectively. The numbers for an otherwise identical 36 month lease are .00158 and 57%. For some reason, I haven't seen the lease program for the Mazdaspeed3 recently, so I can't help you out there. Sorry.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi paulhuang. The MX-5's lease program is the same for all of the trim levels that you mentioned. Its lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Mazda Credit's current 36 month, 15,000 mile per year buy rate lease money factor and residual value for the '07 MX-5 are .00158 and 55%, respectively.

    The fact that you qualify for Ford's X-Plan assures that you will be given an attractive selling price for this car. Chances are that your lease payment for an X-Plan deal will be lower than what you would have been able to negotiate if you had just walked in off of the street.

    Consumers can and should lease any vehicle that they want without making any sort of capitalized cost reduction. All you will have to pay at lease signing are your car's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, Mazda Credit's acquisition fee (I believe that this is $475), and any required state taxes or fees.

    Car_man
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  • paulhuangpaulhuang Posts: 63
    Thank you very much Car_man.
  • kestrellkestrell Posts: 1
    CAR-MAN, thanks for the information. I almost took what I thought was a good deal until I read your post. I had my sales guy talked down to $25,600 on an MX-5 GT w/prem pkg 2 & susp. pkg. My credit is very good so I should be good for a top tier rating, and the money factor I was getting was .002067. A far cry from .00158. With $2,965 down a 3yr 15k per year lease was around $350 at their rate. With the better rate it is $25 to $30 lower. I'm holding out for the better deal; or am I being unrealistic?
  • where is the "s" sensor? i'm getting 4 flashes of the air bag light.

    dilger
  • Hi dilger. I am sorry to hear about the problems that you have been having with your Miata. I don't think that you will have much luck finding an answer to your question here. This particular discussion is for community members to talk about leasing this car. You may have better luck getting an answer to your question by posting it in the "Mazda MX-5 Miata (2005 and earlier)" discussion. Also, try looking around in the "Mazda Miata Problems and Solutions" discussion. It is currently read only, but it has a lot of good information on the Miata in it.

    Car_man
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  • waydewayde Posts: 198
    Hey Car Man - Can you give some details on the new lease offer Mazda has out for the Miata? Thanks in advance. (MF, residuals, etc)
  • wilzapwilzap Posts: 107
    I think the offer is only available for the soft top, but don't hold me to that. I did talk to 1 guy who was going to do it but he waited to long and went to the dealer to find that they sold it that morning, and he was talking about a 27 month lease with about $1300. down plus all the other buying costs that you have with a lease, I would just call a dealer and ask for the details.. good luck
  • redesporedespo Posts: 1
    :) I visited my local Mazda dealer in NJ today and they quoted me the following lease terms for a 2008 Icy Blue Metallic Grand Touring Special Edition car.
    36 Month Lease, 12,000 miles a year.

    $1,800 down payment which included taxes and all security deposits etc.and he waived the first month payment.
    Then each month for the next 35 months I would have to pay $314.51 dollars.

    I have a 2004 Crossfire lease from this same dealership (Chrysler/Mazda) and I only have 14,800 miles on the '04. The lease is due June, 2007 and they said they would eat the last 3 payments.

    Is this a good deal?

    Thanks for everyones assistance.
    Red
  • wilzapwilzap Posts: 107
    Doesn't sound to bad if they are indeed going to eat the last 3 payments, I would make sure that they don't roll them into your new payments.. so I calculated your total cost that you listed and came up with $12,807.85 for 3 years then you can give it back or buy from the lease, the only problem I can see is only being able to put 12000 miles a year on it, I don't think I could drive it that little but I do drive mine year round.. am not a big fan of leasing but thats just me :)
  • pmrtpmrt Posts: 5
    I am new to this site so please bear with me. Looks like car-man is the "go-to" person on leases but I'll take anyone's advice. I have been offered the following deal on a new, 2008 MX-5 Miata SE convertible: $1K down (includes everything except excise tax) and $279/mo if I complete the deal before April 1, 2008 (that give me tomorrow only). My questions are: A) Is this a reasonable deal? B) Do you think if I offered to pay 12 months at a time (3 payments total) I could get it to $250/mo? C) My buddy negotiated oil changes in the lease price on a Ford. Is that reasonable on this car? and D) If I can chew down the 26,590 MSRP will that help the buyout price in the event I want to buy the car at the end of the lease?
  • robger99robger99 Posts: 42
    Just leased a 2008 mx5 miata touring 6 speed with appearance package. 27 months 15k miles/year total out of pocket $1070.00 for $289.00 month taxes in. Any thoughts on this deal would be appreciated.
  • pmrtpmrt Posts: 5
    I'm the guy with the question on leasing just before you. I got no answers but here is how my deal worked out. Mine was the special edition. List was 27,275. I got them down to 24500, then I leased. $279/mo + tax. $1k down. 12k/yr miles. I think I could have gotten them to 15K miles but I won't even put on 12K so it didn't matter. Also includes oil changes for the first year. No big deal. Lease + buyout price of 15,000 = 24,500. I'm satisfied. How it works out over 3 years really depends on how well the car performs/quality, etc.
  • robger99robger99 Posts: 42
    Sounds like a slightly better deal as the list on mine was approx 25,500. but it is only a 27 month with higher miles-which i will need. Enjoy your new car. Im in Michigan and it is 60 and sunny here today-it sure felt good to test drive it today with the top down!
  • pmrtpmrt Posts: 5
    I am a 30 yr veteran of sales negotiating and I'll bet there are still better deals. That said, obtaining the absolute lowest price is secondary to getting a reliable car through a dealer who services it correctly and efficiently, and looks forward to having you as a customer again. I picked up the car two days ago. It's been raining here in Boston since then. It's cold (roughly 40 degrees) and raw. The extended forcast? Rain, cold, windy, raw days through next week. I am driving my sedan. Hope you enjoy Miata, too.
  • howiebxhowiebx Posts: 20
    After much research, road tested Miata, 350Z and Accord Coupe. All are attractive, but I wanted to have some fun with the top down.
    I will be buying or leasing in about a week.
    It is a 3rd car, other is a suv and 4 door (wife & 2 teen drivers)
    I was offered this (did not negotiate yet)

    Grand Touring with Leather, soft top and limited slip package = $25,900
    Lease for 24 months at $295 with 2000 + tax down, 10,500 miles
    Lease for 36 months at $369 with 0 down, 10,500 miles

    Any recommendations on model choices?
    How do you like your car?
    Is the door cupholder annoying?
    THANKS FOR YOUR ADVICE
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