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Mazda CX-9 Lease Questions

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  • carrieb3carrieb3 Posts: 4
    MSRP is $38,535
    Negotiated price: $36,000
    36 months, 12K miles per year

    I was quoted a MF of .00114 earlier in the day, but later they said the new MF's were released 6/1 and they were now .00116. I said I need it to be .00114 or they need to rework whatever they have to to make sure my payment stays at $540. I paid a total drive off of $906. My residual is $21K.
  • rose33rose33 Posts: 10
    I've never leased before and am hoping for some advice on whether this offer is a good deal or not. It's a CX-9 Touring AWD with rear entertainment package. The lease is 36 mos. with 15K miles/year and $1K down. I'm eligible for S-Plan pricing too:

    MSRP=$35,490
    S-Plan Price=$32,697
    Residual=$19,165
    Money Factor=.00151 (3.624%)
    $492/month (tax, title included)

    Also, I live in southeastern MI and haven't seen many of these on the road. Can I expect to use that to my advantage when negotiating? If this isn't a good deal, how do I negotiate from here? Any help would be appreciated. Thanks!

    Rosemary
  • dadofdadof Posts: 8
    What's the name of this dealer? Thanks in advance.
  • jmailjmail Posts: 19
    I was just quoted the following for an AWD Touring

    MSRP: 32930
    sale price: 30,995
    Residual: 57%
    MF: 2.3%

    469 month for 36 months(tax included) with $2000 down (including first months payment). I figure that total payments over the life of the lease come to $18,415

    36 months at 12k MI per year.

    It sounded ok to me at first look, but then he quoted me 495 for the remote start - acc. to edmunds it should be more like 300, so I'd like to check the numbers.

    Does this sound good? :confuse:

    Thanks!!!!
  • imamgimamg Posts: 136
    Congrats on the car...and the deal.. the best part to me (other than the car itself... ) is the 21K residual... If you're thinking of purchasing it after the lease... imagine what you're getting at that price!

    We recently picked up our GTAWD also... same set up as yours... and TOTALY love it! Is it not the most increadible sound system in a car you've heard?
  • ront75ront75 Posts: 1
    i'm set to look at some numbers this Friday for a possible lease of a CX-9. It has an MSRP of $32,795. Sport FWD model with DVD entertainment, Power seats, cargo cover and wheel locks as the only options.

    I want to have an idea as to what kind of numbers they might throw at me along with the best numbers i can get at this time. I'm looking at 0 to minimal down, maximum 24 months lease and 12k or 15k miles allowance. Last time I checked (1 week ago) my Credit Score was at 780.

    Whay kinda Cap Costs, Money Factor, Residual Value, etc. can I expect this time of the year? Hopefully I can get some info befor i walk in this Friday ;)

    thanks in advance.
  • bragotbragot Posts: 3
    I have to admit, I still don't completely understand the whole concept of leasing. I've read the different posts and the guides, but having difficulty understanding what a good deal would look like.

    At any rate, I noticed that dealers post special leasing rates. In particular, Mazda has one on the CX-9 currently:

    http://www.edmunds.com/new/2007/mazda/cx9/100810108/incentives.html?vdp=off&setzip=92688&state=CA#leasing

    Are these kind of rates generally a good deal already or is it better that I don't even mention this and just focus on negotiating the selling price?

    Thanks all and thanks for your patience as well.
  • satwarsatwar Posts: 6
    I'm no expert, but since this deal is already offered, it should be very easy to total up how much the advertised lease will cost you (24x$337 per month + $2500 down) and compare to the best total payments you can negotiate yourself. :)
  • Carman or anyone, what is a good lease deal on a $40k MSRP Grand Touring AWD CX9, looking at discounting from other purchases should I even bother using my S/X plan, it seems like there are better deals had without a plan.

    I'd be looking at the best lease deal 27-36 mos 10,500 miles/year top credit tier. Is $36k possible, if so, where should the lease payment be for 27 or 36 mos. I live in CT, but typically get cars from NJ, the deals are always better there.

    Thanks
  • Hi
    I need to know if this is a good deal or not.

    I'm looking at a touring cx-9 FWD with moon roof, bose, and navi package(navigation, back-up camera, advanced keyless entry)
    I was quoted the following:

    MSRP 36,407 Invoice 33,412
    said he'd sell for 500 over invoice +300.00 for dealer trade
    selling price= 34212

    money factor .00115 residual @ 54% = 19659.78 (should residual be based on MSRP or agreed upon price?)
    36 month lease 12,000 miles
    483.40 plus tax per month with 1095.69 up front

    Is this good? or can I do better?
    thanks for anyones help
    kathy
  • sedmundsedmund Posts: 93
    For the lease on CX-9 this is being offered for $485 - usually I would not consider buying such protection policies. But since this is my first lease attempt, I would like to know: Is it usually a done thing to buy this when you lease a vehicle?
  • baxterdownbaxterdown Posts: 36
    Wear and Tear protection is nothing other than money in the dealer's pocket. Don't buy it. All you need to worry about is the MSRP of the car (to calculate residual), the price you negotiate and the money factor (mf X 2400 to get interest rate). This will give you your monthly payment.

    Since this is your first time leasing, go to www.leaseguide.com. There is a ton of very useful information over there.

    jose
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey lukesdaddy. On-line lease calculators are not very accurate unless you plug the actual money factor and residual value that the bank is using to calculate your monthly payment into them. The calculators that do not ask for this information use an average interest rate and ALG's residual values. As a result, the lease payments that they come up with are usually way too high. Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 CX-9 AWD with 15,000 miles per year are .00115 and 54%, respectively. If you use these numbers you should come up with the same payment that I did.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, dm13850. Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Mazda CX-9 AWD with 10,500 miles per year are .00115 and 57%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Jose. As sales tax rules often do, the exact policy on this matter may vary from state to state. Having said that the answer to your question is probably yes. In the states that offer tax credits for trades that I am familiar with this credit would reduce the sales tax on a leased vehicle. I have actually done this myself. Just make sure to have the dealer that you're working with cut you a check for your trade rather than using the proceeds from it as a down payment for your lease.

    You may be able to find out more information on the specific sales tax rules that your state has by visiting the following sites: Florida Department of Motor Vehicles and Florida Department of Revenue.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, dm13850. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Mazda CX-9 AWD with 10,500 miles per year are .00053 and 67%, respectively. The numbers for an otherwise identical 36 month lease are .00115 and 57%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Bo. I'm doing well. Thanks for asking. Here's information on the latest lease programs for the vehicles that you're interested in.

    Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Mazda CX-9 AWD with 15,000 miles per year are .00053 and 64%, respectively. The numbers for an otherwise identical 36 month lease would be .00115 and 54%.

    Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Acura MDX with the Sport package but without the entertainment package with 15,000 miles per year should be a terrible .00365 and 61%, respectively. Its 36 month numbers are a more reasonable .00270 and 55%.

    All of the aforementioned numbers assume that you qualify for these banks' top credit tiers and pay a security deposit at lease signing. 15,000 miles per year is the highest mileage allowance that they publish residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty.

    It's difficult to say what these trucks' July and August lease programs will look like.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Mich. The CX-9 that you described probably has a spread of around $3,100 between its full MSRP and its dealer invoice price. That puts the $2,500 discount that you are being given on the model that you are interested in at right around $500 to $600 over invoice, which is pretty good. Just make sure that the dealer you are working with uses Mazda Credit's buy rate lease money factor of .00115 to calculate your monthly payment and you're in business.

    Car_man
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  • dm13850dm13850 Posts: 11
    Thanks, Car_man. I ended up doing the 24 month lease under S-plan. For the CX-9 GT AWD with Nav and Moonroof/Bose, my zero down, pre-tax is $475 per month.
  • dm13850, what state did you buy in? How many miles in your lease and what was the MSRP and negotiated sales price?

    Was it easy to find the color and features you were looking for?

    Thanks...I need to make a deal in the next few weeks.
  • ocalaocala Posts: 11
    I just leased a Black Cherry Mica, sand interior, FWD Touring CX-9 in Florida.
    The dealer even brought it from out of state. It had the options I wanted, RSES, assist package, homelink mirror, roof rack.

    I got him to $400 under invoice, $34300; MSRP $37932; got the MF of 0.00115, 36 months and 15k miles. No money down.
    Monthly $528 with tax.

    My wife is very happy, and I want to thank everyone on this forum for their great advice. Last time I leased a car I was totally ripped off.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, Bo. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Mazda CX-9 AWD with 15,000 miles per year are .00053 and 64%, respectively. The numbers for an otherwise identical 36 month lease are .00115 and 54%. I believe that 15,000 miles per year is the highest mileage allowance that Mazda Credit publishes residual values for. If so and you need to drive more than this you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi carrieb3. You might be able to shave another hundred or two off if you are in an area that has a decent level of competition, but $500 over dealer invoice (or $586 for that matter) is a very good selling price for a 2007 Mazda CX-9. Just make sure that the dealer that you are working with uses Mazda Credit's current 36 month buy rate lease money factor, .00115, to calculate your monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Rosemary. The selling price that you were quoted for the CX-9 that you are interested in is very attractive. For some reason though, the money factor that you were quoted is a little high. Mazda Credit's current buy rate lease money factor for a 36 month lease of an '07 CX-9 AWD is .00115. Just make sure that the dealer uses this money factor to calculate your monthly payment and you're good to go.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jmail. The vehicle that you are interested in has a spread of around $2,500 between its full MSRP and its dealer invoice price. That probably puts the selling price that you were quoted at around $500 to $600 over invoice, which is a good deal. You can look up this vehicle's exact dealer invoice price in the following section of this site to confirm that is the case: Edmunds.com - New Vehicle Pricing. Mazda Credit's current buy rate lease money factor for a 36 month lease of this model is .00115. Make sure that the dealer that you are working with uses this factor to calculate your monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ront75. A number of community members have been reporting getting selling prices of $500 or so over dealer invoice on the CX-9 right now. If I was in the market for one that's the price that I would shoot for. As far as this vehicle's lease program goes, Mazda Credit's current 24 month, 15,000 mile per year buy rate lease money factor and residual value for the '07 CX-9 Sport FWD are .00053 and 62%, respectively. If you were tot lease with only 12,000 miles per year, the residual value would be 2% higher.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bragot. Generally speaking manufacturers' advertised lease payments are usually decent deals. Having said this, consumers who are in an area that has a decent level of competition and who shop around are usually able to beat manufacturers' advertised deals by negotiating a lower selling price than they are based upon. Comparison shop with a few dealers for the CX-9 that you want and then have the dealer that you are working with use Mazda's buy rate lease money factor (which I have mentioned in previous posts) to calculate your monthly payment. Leasing can be confusing, so keep it simple and focus on the selling price and money factor and you'll be fine.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi readyformyrl. If I was in the market for a CX-9 and I had access to Ford's X-Plan I definitely would use it. It will guarantee that you will get an excellent price on this vehicle without having to haggle. Let me know what the X-Plan price is for the CX-9 that you want and I'll run a few sample lease payments on it for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello Kathy. $500 over dealer invoice is a good deal on the CX-9 right now. Furthermore, the .00115 money factor that you were quoted is right in line with Mazda Credit's buy rate for this model. If you like it, I personally don't see any reason not to go for it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, dm13850. Thanks for sharing the details of your lease. Enjoy your new ride :) .

    Car_man
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