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Mazda CX-7 Lease Questions

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  • mykedavemykedave Posts: 1
    Hello I am in the Ft Lauderdale area and Im looking to purchase a CX-7 2008 or 2009. My question is with no money down and a very good credit rating what is the best deal that I can get. Im looking to pay around 350.00 per month if possible for 60 months. Any suggestions or advise will be greatly appreciated.
    Thank you
  • abukiabuki Posts: 7
    Hi Car_man, Would you know what is the current Residual and MF for an CX-7 touring AWD? i'm looking at either 15K or 12K miles per year, and 36 to 39 month terms?

    Thanks...
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, maxglobin. You will have two options at the end of your Altima lease, buy your leased car or return it to the dealer and get something new...which does not necessarily have to be another Nissan vehicle.

    Given the dramatic fall in the value of used vehicles over the past year you probably do not want to buy your car at lease-end, unless Nissan is willing to significantly reduce its purchase option price.

    I would be happy to work up a sample lease payment on the CX-7 that you are interested in for you. It's good that you already know what the selling price of the model that you want is. That is a very important number. In order to calculate a lease payment I need to know what its full MSRP is as well. Let me know and I'll crunch some numbers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi mykedave. This particular discussion is for people to talk about leasing the CX-7. You will probably have better luck getting feedback on what sort of selling price to expect and what your finance payment will look like over in the "Mazda CX-7 Prices Paid and Buying Experiences" discussion.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi abuki. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2009 CX-7 Touring AWD with 15,000 miles per year are .00124 and 42%, respectively. the numbers for an otherwise identical 39 month lease are .00150 and 40%. If you were to lease with only 12,000 miles per year, this vehicle's residual values would be 2% higher.

    When negotiating your lease, make sure to take advantage of the $1,000 cash incentive that Mazda is currently providing on leases of it.

    Car_man
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  • In June 2007 we leased a CX-7 Grand Tourer with Technology package (DVD Nav)for first month down and $340 a month (Inc. Tax) on a 24 month lease. This weekend we asked the same dealer for the same again, as our lease is coming to an end, and he quoted $1,000 down and $471 a month ! WTF !

    Can 'mr. CarMan' please tell me what is going on ?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi britboyinfl. Unfortunately, in general manufacturers' lease programs are much worse today than they were several years ago. The main reason for this is that for years manufacturers were unknowingly overestimating vehicles' residual values, making their monthly payments lower than they should have been.

    This became a major problem for banks starting last summer. First when gas prices spiked to $4.00/gallon the resale values of trucks fell off of a cliff. Then when the economy entered a deep recession the values of most other vehicles followed.

    The banks that had been leasing vehicles to consumers for years found that the vehicles coming back off-lease were worth nowhere near what they had estimated they would be and they were forced to take millions and millions of dollars in losses. Naturally, they were disturbed by this and they lowered their residual values for vehicles going forward.

    So that in a nutshell is why leasing is generally more expensive today than it used to be. There are still some attractive lease deals out there...they are just fewer and further between than they used to be.

    Car_man
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  • Thanks for the clear explanation Car_man,

    I bet if I asked Mazda to lower my lease end buy price because of a 'revised' residual they would say no :)

    After much 'negotiating' we have signed with Nissan for a Rogue SL with Premium and Leather (MSRP $26470) for 0 down, and 38 * $371 (+ Tax). That's the best we could do. No Nav (Guess a Garmin will do) and $60 a month more than our CX-7 for a similarly spec'd car.
  • patwhitepatwhite Posts: 4
    Hello, wife is looking at the CX-7 Touring and we got an initial quote of $25,570 if we take the rebates and not any special financing.

    Does anyone know what the money factors/residual are for the Raleigh NC area? Not sure yet if this price is good. The MSRP on the sticker is $29,820.

    Thank you!
  • runnernicrunnernic Posts: 15
    i have a 2008 grand touring with navigation and remote start... i put $0 down and pay $400.02 a month.... i'm in central NJ
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, britboyinfl. Enjoy your new CX-7.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Greetings patwhite. Here's the information that you're looking for. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Mazda CX-7 Touring with 15,000 miles per year are .00081 and an unattractive 40%, respectively.

    You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

    When negotiating your lease on this truck, make sure to take advantage of the $1,000 cash incentive that is available on leases of it in your area.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • walktofastwalktofast Posts: 10
    This is on my Mazda dealers web site in Massachusetts. I went yesterday and going back today to drive both CX7 and 9. Posted under CX9 lease and confused as to why the payment on the CX7 would be more then a lease on a CX9. Really don't want to put 3k down on a lease. (also looking at a used CX7 for $17,000 so might buy) THANKS

    New 2009 Mazda CX-7 Sport AWD
    Offer ends 7/31/09
    BUY FOR $20,170

    Lease for $339
    Per Month

    MSRP $26,895. Automatic. Price plus tax, title, registration fee, and $295 administration fee. All dealer and factory rebates and incentives due to dealer. Vehicle must be paid for at time of purchase. 36 month lease, 10,000 miles per year. $22,420 Cap Cost. $3000 due at inception, plus tax, title, registration fee, and $295 administration fee. All lease payments include destination. Subject to Chase Mazda tier 0-3 approval. 0% APR financing available for qualified customers. Cannot combine offers. Vehicle shown for illustration purposes only. Subject to prior sale. Offers end 7/31/09.
  • eoseireeoseire Posts: 14
    Hi Carman, Do you have CX-7 GT rates for August ? Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I sure do, eoseire. Chase's (Mazda runs all of its special leases through them now) current buy rate lease money factor and residual value for a 36 month lease of a 2009 CX-7 GT AWD with 15,000 miles per year are .00105 and 46%, respectively.

    You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

    Car_man
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  • Car man, Do you have any lease info for the 2010 cx7. I am looking for 24 or 36 months, 12k per year.
    Thank you.
  • Looking for 2009 and/or 2010 lease rates on CX7 all trims...

    10k, 12k miles, 24 and 36 months.

    thx
  • Here's the information that you're looking for, eagles2. Mazda's current buy rate lease money factor and residual value for a 24 month lease of a 2010 CX-7 Touring AWD (you never mentioned the specific trim level that you want and it makes a difference) with 12,000 miles per year are .00085 and 59%, respectively. The numbers for an otherwise identical 36 month lease are .00105 and 51%.

    Car_man
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  • Hi smithsonga. Mazda's current buy rate lease money factor for 24 month leases of any trim level 2010 CX-7 is .00085. The money factor for a 36 month lease of this truck is .00105. Here are its 24 / 36 month 12,000 mile per year residuals:

    CX-7 Sport FWD: 60% / 52%
    CX-7 SV FWD: 62% / 53%
    CX-7 Grand Touring AWD: 56% / 48%
    CX-7 Grand Touring FWD: 56% / 48%
    CX-7 Touring AWD: 59% / 51%
    CX-7 Touring FWD: 58% / 50%

    The 24 and 36 month, 12k factors for an '09 CX-7 are .00015 and .00076, respectively. Here are its resids:

    CX-7 Grand Touring AWD: 51% / 54%
    CX-7 Grand Touring FWD: 50% / 43%
    CX-7 Sport AWD: 50% / 43%
    CX-7 Sport FWD: 49% / 42%
    CX-7 Touring AWD: 49% / 42%
    CX-7 Touring FWD: 48% / 41%

    Car_man
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  • I just got quoted today for a 2010 CX-7 base (no frills whatsover) with zero down $389 a month + tax. Seems very high to me. I live in FL.
    He said the residual value on this car was $11,500. Does this sound right?
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