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Mazda CX-9 Lease Questions

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  • Hi,

    The information here has been very helpful. We're looking at several leases (Murano SL AWD, CX7, CX9).
    We got an offer for CX-9 AWD Touring (Nav pkg, moonroof pkg) 27 months/15k a year/for $504 a month/2k down includes (1st payment + TTL). The details: MSRP 37,000 with a selling price of 35,500 and invoice of 35,325. Is this a good deal? The money factor is .00088 with 64% residual. We are thinking of buying this after the end of the lease should the car be relatively bugless for a 1st edition vehicle.

    Thanks!
  • jrldrivejrldrive Posts: 9
    Something does add up correctly. Go to leaseguide.com/calc
    and plug in your numbers. There must be some other costs that are being taken out of your downpayment, thus increasing the cap cost. If your other numbers are accurate ($200 over invoice, .00088 money factor and 64% residual), then that is a very good deal. If you are thinking of buying, why not look to a 39 month lease to lower your payment and take advantage of a lower lease rate?
  • jrldrivejrldrive Posts: 9
    44% residual seems low, but you are going out 4 years. The money factor is a great rate.
  • jrldrive, I didn't get the final numbers but I think they are taking into account bank fees and inception fees. If going with 39 month lease wouldn't the money factor still be around .00088 and my residual a bit lower. I guess with the 27 months if we don't like the car we can give it back sooner without needing any maintenance repairs (34k miles vs 48k miles)

    Thanks.
  • jrldrivejrldrive Posts: 9
    the money factor would be higher for a longer term. Don't forget the money factor is the interest rate divided by 2400. I was just talking with one dealer and they quoted a money factor that translated into an 8% rate (way too high), so you have to shop around.
  • Can anyone give me the March terms for a 27-month lease with 15,000 miles. We're looking at the FWD GT adding the moonroof/Bose and mirror w/ homelink. Many thanks as we begin this confusing process.
  • amcdadamcdad Posts: 61
    We decided to get a Blue w/Sand GT with AWD/Nav/DVD/Sirius (it was pretty hard to find a GT wth Nav in CT, especially in blue- they are selling fast!):

    MSRP: $39560
    Sales Price: $36726 (S-plan invoice pricing, fortunately- some dealers are not honoring S-Plan on this car)
    Residual: 62%
    MF: .00088
    Term: 27 Months
    Miles: 15K
    Money Down : $3500 (includes first month's payment and up front fees, and about $1850 Cap Cost reduction)
    Pre-tax monthly payment: $438

    BTW- the residual on a Touring is 64% (27 months/15K), with the same MF. It's a better deal, but the GT had some enhancements we liked.

    We are pretty happy with it- although I am crossing my fingers that the crash test results are as good as the related Ford Edge. We like the car- and hope it works as our attempt to avoid the minivan! We also shopped the Odyssey, Sienna, XC90, MDX, Pilot and Acadia, but liked the CX-9 a lot for the money and decided this would be worth a shot, especially with such a short term lease.

    Good luck with your shopping!
  • I don't mean to be naive, but how and where do you get these figures? I'm trying to price a GT FWD now, but dealers will only give me the lease price, no specs.
    Also, where do you live? I"m in South Florida and the car loaded with what you have is being priced at well over $700/month. I told them they were crazy!
    I need true price figures to try to negotiate this.
    THANKS FOR THE HELP!!!
  • jrldrivejrldrive Posts: 9
    Go to Edmunds.com They will show you the invoice and MSRP. When negoiating the lease, you have to first negotiate the price (the difference between MSRP and the negotiated price is the cap cost reduction). If you walk into a dealer and just ask for a lease price, they will calculate it based on the MSRP.
  • amcdadamcdad Posts: 61
    Any reputable dealer should be willing to share the residual and money factor with you- I confirmed from posts on this website.

    When talking with sales, focus ONLY on the sales price. Edmunds has good information on how leasing works, but basically you are paying for the difference between the sales price and residual value, plus tax and interest and fees. The residual value and interest rate (money factor X 2400) are set by the bank/financial arm of the manufacturer. They are not negotiable, except that a dealer attempt to pad profit by offering different residual/interest rate values from the actual program should be rejected.

    Once you are getting the proper residual/MF, your focus on the sales price brings down the total amount of your lease. Never accept MSRP, and look at the leasing and Prices Paid Boards to figure out what a fair sales price will be (these boards also list incentives, as does Consumer Reports new Car Buying Kit- some dealer incentives can be used on leases, some cannot).

    For the CX-9, because it is new and "hot" (especially the GT with Nav)I have heard of dealers selling only at MSRP, and some willing to deal a few hundred over invoice. Shopping around helps a lot- I'd shoot for close to invoice, if you can get it (every market is different). There is currently a holdback on the CX-9 about 2%, I think), which means technically the dealer can sell under invoice and still make money. Few are willing to dip into the holdback right now- although you never know.

    Anyways, once you decide you want the car, know what model/options, and have agreed on the right residual/MF- negotiate the sales price as if you were buying, then use the Edmunds or LeaseGuide calculator and determine where the payment should be. Find out what ALL the fees and taxes are also. Don't get sucked into a "monthly payment"discussion- you can impact payments by varying your up front money and lowering the sales price.

    Hope this isn't too much info- not sure how experienced a leaser you are, but I hope tthis helps. BTW, if a dealer won't break down the lease and give you specs, you may want to go elsewhere.

    Good luck.
  • luv2nou2luv2nou2 Posts: 1
    We just leased a GT AWD with Navigation/towing/bose audio and homelink rearview mirrow (msrp $39310) with 15,000 miles/year for $478.12 per month for 39 months. We traded in our 2005 Chrysler 300C (hemi) and had about $4000 equity in to throw our lease price down to $35000 and change. We thought we got a good deal? Anyone else have better luck?

    This was with no money out of our pocket at lease signing. Also our security deposit and first month's payment was included in the agreement. Our dealership did not break our numbers down with us, so we were curious to see if we really did make a good deal?
  • Do the residuals/MF vary by the region you are in?
  • amcdadamcdad Posts: 61
    They can, but the numbers I was quoted in CT seem consistent with what others in other states have posted. I suspect it is a national program...maybe this board's Host can help?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi jrldrive. Mazda Credit's current buy rate lease money factor and residual value for a 39 month lease of a 2007 Mazda CX-9 Grand Touring FWD with 15,000 miles per year are .00137 and 50%, respectively.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, suomi8. Mazda Credit's current buy rate lease money factor and residual value for a 39 month lease of a 2007 Mazda CX-9 GT AWD with 15,000 miles per year are .00088 and 62%, respectively. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but its residual value would be 2% higher.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi Maria. The selling price that you were quoted for the CX-9 that you are interested in looks very attractive to me. The only problem that I have with this deal is the large down payment that you are being asked to make. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. Those who make one risk losing it if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello matthewjohns. The money factor and residual value that you were quoted for the CX-9 that you are interested in are right in line with Mazda Credit's current lease program for it. So there is no money factor mark up going on in your deal. This truck's selling price is very good as well (it's nice to be able to purchase through the S-Plan isn't it :) ). This looks like a good deal to me. If you like the truck, go for it.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Greetings wishman68. $175 over dealer invoice is a very good price for a 2007 Mazda CX-9. Furthermore, the money factor and residual value that you were quoted are right in line with Mazda Credit's current lease program for this model. This is about as good as it is going to get on a CX-9 right now. If you like it, go for it.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey smartshopper9. Here's the information that you're looking for. Mazda Credit's current buy rate lease money factor and residual value for a 27 month lease of a 2007 Mazda CX-9 GT FWD with 15,000 miles per year are .00088 and 59%, respectively. Good luck in your negotiations and let me know if you have any other questions.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Congratulations on your new CX-9, amcdad. Thanks for taking the time to share the details of your lease with everyone. Enjoy your new ride!

    Car_man
    Host
    Prices Paid Forum
This discussion has been closed.