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Mazda CX-7 Lease Questions

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Comments

  • wilgwilg Posts: 3
    Thanks for the info audia8q. That makes sense.
    Do you think nissan is discounting it because the new year model will be out soon? Any thoughts?
  • audia8qaudia8q Posts: 3,138
    Do you think nissan is discounting it because the new year model will be out soon? Any thoughts?

    year end usually plays a role. If it was the first year for the Murano they wouldn't be offering those kind of deals. The waters are getting deep..It seems everyone has a new 'crossover' this year.. so the Nissan is the old maid of the bunch...To counter everyone elses new products they offer strong lease deals to make their vehicle more attractive.

    When a new vehicle hits the market, the mfg's like to sell the product...as the product ages and the design gets a little dated they start to sell the deal.
  • been looking at getting into a cx-7. I am new to leaseing but it seems to be the way to go for me. I went to the mazda dealer here in Madison WI and looked at the grand touring. The "special" they a running is a 299.00 lease 36 months. The downside 10500 miles and 2900 down. Can i do better, and can I negotiate better mileage without increasing the price to much.
  • Greetings noleaf. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. It is important to understand exactly how leasing works so that you can get the best possible deal on your new vehicle.

    You never mentioned the selling price or MSRP of the CX-7 that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this vehicle's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    You definitely can increase this vehicle's annual mileage allowance to 12,000 or 15,000 miles per year. Doing so will lower its residual value and cause its monthly payment to increase slightly.

    Car_man
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    Prices Paid Forum
  • gene66gene66 Posts: 12
    I am shopping around for a lease deal for a CX-7 Touring or Grand Touring in Central Florida.
    This is what I got so far:
    Lease terms: 24 months, 10,500 miles/year (enough for my wife):
    Residual: 70%
    Money Factor: 0.00204 (with top tier credit score)

    The dealers seem to be ready to take a lot off the MSRP. More than $2000. That's below invoice! I still have to pay $595 in aquisition fees. Beware of other hidden dealer fees!!! The only other fees I am willing to pay are tag and registration.

    I will keep you posted on how it goes and what the final monthly payment will be.
  • fonefixerfonefixer Posts: 247
    Just got a quote from a "one price" Mazda dealer:

    msrp: $30,765.02
    24 months---pre-pay entire lease upfront. 15,000 miles/yr.

    acquisition fee: $595.00
    refundable security:$350.00
    MN. license/registration: $389.75
    MN. sales tax: $514.70
    money factor: .00094

    selling price: $27,765.00
    residual price: $20,920.20 68%
    $27,765 - $20,920.20 divided 24 = $285.20--depreciation fee
    $27,765 + $20,920.20 x .00094 = $45.76 --finance fee
    ----------
    $330.96 x 24= $7943.04
    $7943.04 +
    $595.00 +
    $350.00 +
    $389.75 +
    $514.70
    ----------
    total fees for 2 years leasing: $9792.49
    Figures out to: $408.02/mo., just payable upfront!
  • fonefixerfonefixer Posts: 247
    Your money factor rate of .00204 matches what I found. Best 24 month lease on a grand touring Cx-7 msrp of $30,340.00 is $10,170.00 including all fees/taxes. Comes out to 0 down, $423.75/ mo. for 24 months.
  • gene66gene66 Posts: 12
    I have just leased a 2007 Mazda CX-7 Grand Touring.
    24 month lease, 10,500 miles/year.
    MSRP $26,895
    Cap cost $24,616
    Residual $18,826 (70%)
    Money Factor 0.00204 (4.9 %)
    Payments $329/mo + tax
    ONLY $150 due at signing (which included first month payment, tag and registration).
    My understanding is that Mazda Financial is offering $1000 lease cash support. So there was probably room to bring down my payments to $315-$319/month. But I was pretty happy with the excellent service at the dealership, so I did not feel like haggling to the last penny.
    I hope this helps someone else, although Mazda might change their lease programs in Nov. They may offer a better deal, who knows...
  • vbbuiltvbbuilt Posts: 498
    Only 10K miles a year?

    You must only drive to the neighborhood grocer. :P

    I've had mine since July (4 months of driving) and have nearly 10K miles on mine and that's predominantly commuting 30 miles daily, plus chores and weekly trips to DC (average 90 miles round trip).

    It'll be interesting to see if you can keep your milage that low.

    How much do you have to pay if you exceed your milage?

    Vince.
  • I was just offered the following lease deal on a GT AWD model with Tech package and couple other goodies:

    The breakdown was 24/mo , 12K/ year, MSRP $33,000, Selling price $30,000. With $1000 drive-off the monthly payment was $450. Good or bad deal?
  • wjbushsrwjbushsr Posts: 135
    12K a year is a critical mileage. If you go over that amount you wind up in the "pay through the nose" category on mileage.

    I would find out what the excess mileage cost is, sometimes they can be pretty steep, as much as .20 a mile over the allotted mileage.

    Read the contract carefully, and make note of the mileage penalty... 12K is not nearly enough miles for the average driver.
  • I'm not worried about the mileage. I have been averaging 10k-11k a year and that won't change. I am more interested in what you guys think about the monthly payment and the sales price.
  • franzfranz Posts: 16
    Not a good deal, at least compared to mine. I got my CX-7, GT, AWD, Tech Package, Wheel locks, 12k miles/yr, 24 month lease for $397/month with no money down except title, plates and first month pymt . Money factor was 0.00196. Residual was 70%. Cap cost of $30299 (invoice) + $595 aquisition fee = $30894 total financed on lease.
  • That's a great deal but your numbers don't make sense. If your adjusted cap cost was $30894 and the money factor is .00196 the monthly payment comes to $463. I used this calculator which I know to be accurate, http://leaseguide.com/calc.htm.
    My numbers were very similar except for the money factor, I was quoted .00177 and the residual, I was quoted 69%. My $1000 was also going towards title, plates and first month's payment. The remaining $212 was cap reduction. When did you get your deal?
  • franzfranz Posts: 16
    Oops. I gave you the wrong money factor. It should have been 0.00116. Of course residual is based off the MSRP which was $32,640. Does that make more sense? I leased it on Oct 29 form Herzog-Meier Mazda in Portland, OR.
  • Yes, that's more like it. I come up with $397/mo before taxes. You guys don't pay sales tax in Portland so a similar deal in Socal would be $428/mo.
  • bkssdbkssd Posts: 1
    Is this a good deal? From a San Diego dealer:

    rice: 22490
    Bank Fee: 595
    Total cap cost: 23085
    security deposit: none
    cash:1500
    rebate: none
    residual:17262
    trade-in:none
    terms:24 months
    mileage per year:10500

    Payment: 275.32
  • You can do better than that if your credit is decent. Try to get the same payment with only $750 down. Shop around there are a lot good deals on the CX-7 right now, expecially for the base model that you are interested in.
    If the San Diego dealers are not willing to go lower call some Orange County dealers.
  • acp18acp18 Posts: 2
    First time posting and leasing - have read the edmunds 10 steps to leasing and this sounds like a good deal, but please give input! Received the following quote from a dealer in Arlington, VA for a sport FWD with moonroof, Bose 6 CD and Driver Power Seat:

    Price: 24,600 (MSRP is $26,245 and TMV is $26,054)
    Acq fee: 595
    Doc Fee: 299 (I tried to get them to waive this, but they don't seem to be budging)
    Tags: 53.50
    Gross Cap Cost: 25,547.50
    Security Dep. 0
    Cash down: 2,000
    Residual: $15,484
    No trade-ins or rebates
    36 months/12K
    Payment: $278.41 (plus $15 for VA property tax)

    Final question - I know Edmunds recommends the gap insurance and I understand the basics of it.... how much extra does it generally cost and do the majority of people who lease get it?

    Thanks for your time!
  • Welcome, acp18. Reading the 10 Steps to Leasing article is a very smart place for someone who has never leased before to start. The more you understand leasing before visiting any dealers, the less likely it is that you will be taken advantage of. It makes sense to get gap insurance on a leased vehicle. Mazda Credit, like many other banks, already automatically includes gap insurance on all of its leases at no additional charge. So you are already covered. Make sure not to pay for it twice.

    Car_man
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    Prices Paid Forum
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