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Mazda CX-7 Lease Questions

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Comments

  • 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
  • acp18acp18 Posts: 2
    Thanks Car Man. Good to know. How about the lease deal - sound OK to you?
  • jdwksujdwksu Posts: 27
    Some dealers are having specials right now on CX-7. Not sure if your is or not. I will post the dealership webpage so you can take a look yourself. I thought the purchase price of yours seemed to me a little high.

    http://www.townnorthmazda.com/tnm/Homepage.nsf/(lookup-models)/MAZDA%20CX-7?open- - document

    2007 MAZDA CX-7:

    $3000 OFF MSRP ON SPORT MODELS! OR $2500 OFF MSRP ON TOURING, $3000 GRAND TOURING MODELS!
    PLUS

    2.9 % APR (12-48 MTHS), 3.9% APR (49-60 MTHS), 5.9% APR (61-72 MTHS)

    2 YEAR TEST DRIVE OFFER:

    FWD SPORT $189/MTH!

    Also

    http://www.hileymazdahurst.com/
  • You're welcome, acp18. The selling price that you were quoted appears to be right around dealer invoice, which is a good deal even when the irritating $299 doc fee is added in. Is the $2,000 that you are putting down on this vehicle just to cover things like its first month's payment, security deposit, and acquisition fee or is some of it being used as a cap cost reduction? I ask because I always advise consumers against making down payments on leased vehicles. Those who make them risk losing them if their leased vehicle is totaled in an accident or stolen and never recovered. Without the down payment, your monthly payment will be higher but you will be better off. You can calculate what this vehicle's monthly payment should be without any down payment by using Mazda Credit's current 36 month, 12,000 mile per year lease program of .00225 and 61% (for the '07 CX7 Sport AWD).

    Car_man
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    Prices Paid Forum
  • I thought the "Rules of the Road" for this forum said posting dealer website links was not allowed???

    Anyway, acp18 appears to be in VA, not TX.
  • jdwksujdwksu Posts: 27
    If those are the rules of the road i was not aware of it... Sorry if it is not.

    Was just trying to provide more information for a more informed purchase.
  • Carman what do you think about this offer??

    It is a 2007 Mazda CX-7 Touring AWD SUV in Galaxy Gray with the Moonroof/Bose Audio package. If you lease this vehicle for 48 Months at 12,000 miles per year, your payment comes to $430 a month with just your 1st payment due at lease signing and the residual is $14,672.50. If you go to 15,000 miles per year, the payment is $441 and the residual goes to $14,085.60 .
  • not a good deal at all. I bought the same vehicle for $28350.00 plus TT+L. You will have spent $20,650.00 on a lease plus not even be under the bumper to bumper warranty. Also, did that include taxes? Atleast at the end of the 48 months, can sell the Cx-7 and get something back. I don't think the vehicle will have a market value of 14,000 after 4 years, probably more in the 11 to 12 range.
  • thx for your response fonefixer. mazda dealers are so greedy around here (nova) eating up all of the mazdausa incentives. still waiting to hear a better deal from them.
  • kcittikcitti Posts: 10
    I have never leased a car before, and was looking at the cx-7 grand touring, 2wd, with tech package. The MSRP was $30,100. What sort of quotes should I expect for a 36 mo lease, 12k miles, have a trade in blue book value at $4500?

    What should I be able to negotiate the price down to?

    Thanks for your help!

    -First time leasor/buyer
  • cxrabbitcxrabbit Posts: 134
    If you can afford to, sell your car privately. You'll make more money than on a trade-in. For example, dealer only wanted to give me about $9,500 on my trade-in... I expect to sell it privately for anywhere from $13K-$15K.

    As for price, in NY I was able to get my price down to $29,924 for Grand Touring w/Tech Package, Sirius Satellite Radio, Remote Start and Preferred Equipment.
  • poopspoops Posts: 7
    ...for the month of December?
  • sssfegysssfegy Posts: 132
    As of today, it is unchanged by Mazda, at least here in Co.
  • kcittikcitti Posts: 10
    What is the feasibility of leasing a cx-7 grand touring with tech package for under $400 a month? (12k miles, trade in value $4500, 36 mo lease)
  • sasukesasuke Posts: 77
    Got this offer today:
    Grand Touring with Sun and Sound Package for $385 a month, taxes and fees up front. Is this a good deal?
  • kcittikcitti Posts: 10
    nothing down? no trade in?
  • sasukesasuke Posts: 77
    just taxes and all that junk..no trade -ins
  • kcittikcitti Posts: 10
    what were you able to negotiate the proce of the vehicle down to?
  • sasukesasuke Posts: 77
    I'm honestly not sure...i was in a rush and test drove it and he gave me a price...is that $385/month a good deal for the grand touring + sun and sound?
  • dashbbdashbb Posts: 119
    Well, what is the down payment? Lease duration? Annual mileage? If this is for 36 months, 12k miles/yr with zero down, then it is a pretty good deal.
    Good Luck. CX-7 is an excellent SUV.
  • Hi hobo343. 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 truck'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.

    Car_man
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