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Mazda3 Lease Questions
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Car_man
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Here are some of the relevant numbers:
Mazda3 iTouring Automatic
MSRP: $20,345
Agreed value of car: $18,833
Term: 42 months
Miles: 12K per year
Residual: 56%
MF/Interest Rate: 0.00091 or 2.18%
Here are all the other fees I ended up paying. Some are of course nonsense.
Acquisition: 750
Sales/Use Tax: 280
Title/Reg Fees: 250
That should be all the info anyone needs to calculate it out.
Notes:
-The Acquisition fee is marked up from 595 to 750. I questioned them about it and they fed me a total lie about money down vs no money down leases. They didn't charge me a "dealer doc fee" though, which I'd been expecting. So it's a wash.
-I don't know where the 280 tax comes from. It seems too low to be the sales tax on the car and too high to be for any of the random fees. This is still a total mystery to me, but I am happy with the end result so I suppose it doesn't matter.
-My sale price is $18,833 and TMV is $19355. But you should tack onto the agreed price the $150 they bumped the acquisition. So in the end I guess I picked it up for $19K with no other dealer fees.
I let them get away with the Acquisition fee b/c I was happy with the end result and the payment they gave me. I have no idea if they would have gone lower, but this seemed aggressive to me already.
I plan on babying this car and then potentially buying it out and flipping it to clawback some value if it is significantly higher than residual value at lease end. I'll see what is smartest once I get near lease end. I'll probably start investigating a buyout ~32 months in when a few months are still left on the warranty for any potential buyer. If not, I am thrilled to drive it for the 42 months total.
I don't post much at all on here but I just wanted to give potential leaser's my experience with my leased Mazda.
At around 20,000 miles and just a little over 2 years on my lease for my 2010 Mazda 3 hatch and had to replace the tires and this was after rotating them every 5000 miles. Mazda seems to put crappy tires on thier cars.
It really sucks to have to pay $500.00 on tires that I will only use for a short time then turn the car in. Bad thing is my previous lease was a VW GTI and I had to replace the tires on that too. Now I thought that was my fault as I did not rotate the tires enough but it seems at Mazda and VW do not put very good tires on thier new vehicles.
This is the last lease for me as I can't afford to keep wasting money on tires on cars I'm not keeping.
Agreed!
Can you tell me the residual value and money factor for a 2012 Mazda3 i Touring automatic in the Philadelphia area for 42 months/15000k per year?
Also, I may purchase up to an additional 3000 miles upfront. Every dealer I talked to (Mazda, Subaru, Honda, etc) is charging me 10 cents a mile if I buy them upfront. It's 15 cents a mile at the end of contract. 10 cents seems high to me. I read in an article here on edmunds that it should average 5 cents and that's what edmunds lease calculator seems to uses. Considering leases correlate with the used market, I checked the TMV of an '09 mazda3 with 45k and 54k miles. The mileage adjustment came to $207. Divide by 9000 miles and it comes out to 2.3 cents a mile. I think 5 cents is reasonable for both parties. Does anybody have any experience on this matter?
A salesperson once told me that 5k miles adds about $15 to the payment ... or about 10 cents per mile.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
For your example do you mean 5k/yr? Cause if that's the case, assuming 36mo lease, 15*36=540 540/15000=3.6 cents per mile.
Looking at car_man's posts where he provides rates for multiple mileages (735, 737, 750) he states the difference between 36mo 10k->12k at 1% and 12k->15k at 1% as well. 1% of a $20,000 car is $200 which equates to 3.3 cents and 2.2 cents respectively. Say we double the depreciation to 2%. That still puts us at 6.6 to 4.4 cents per mile. Working backwards from 10 cents, for an additional 3k miles per year for 36 months means the cars residual would have to drop 4.5%. That seems too high for an economy car.
I forgot a detail, the car I requested the info for is the 4-door sedan. Thanks!
i'm so tired today.
sorry about that.
I'm not sure why they just aren't using a different residual rather than charging per mile ... unless you are going above and beyond. In other words, I think most leases are available up to 18k/yr, but then they have to go per mile above that.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
They would be telling the truth...
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Thanks for the clarification! It's unfortunate it can't be negotiated, they charge way too much! Any chance you could provide the lease info I requested a few posts back?
In the meantime, Chase's August buy rate lease money factor and residual value for a 39-month lease of a 2012 Mazda3 i Touring Sedan in Philadelphia with 15,000 miles per year are .00084 and 56%, respectively for consumers who qualify for its top credit tier.
Actually $0.10 per mile sounds about right for excess mileage purchased in advance. $0.05 sounds a little low to me. I don't think that the dealer has the ability to mark-up excess mileage charges.
Car_man
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Thanks for the info! My local dealer quoted me 54% for 42 months with a mf of .00091 but they use tier 2 by default. I got a quick quote for 36 and 39 too but didn't get the figures. Based off of some quick calculations, I think they came out to 58% and 56% respectively.
Could you look up the top tier money factor for a 15k/yr 36 month lease for a Mazda3 i Touring sedan with an auto transmission in the Philadelphia area?
Does using Chase Financing exempt you from receiving dealer cash any incentives? The fine print on edmunds incentive page says I should be good but I had a dealer try to tell me otherwise.
Thanks!
I'm interested in leasing a 2012 Mazda3 iTouring with Skyactiv-G. I'm not sure about the lease length right now. I'd appreciate it if you can provide me with the September residual and money factor for a 24 month and a 36 month lease. I'm only interested in the lease rates for 15k per year. I'm planning on leasing the car in California if that makes any difference.
Also, I think I qualify for the top tear lease rates, but I might be right on the edge. What is the minimum credit score for the top tier lease rates?
Thank you for your help,
Ixis14
Car_man
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The $1,500 dealer cash that Mazda is currently providing on '12 Mazda3 Sedans is not compatible with the aforementioned lease program.
Car_man
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Here's the August information for you for now to at least give you an idea of what you will be looking at.
Mazda's current buy rate lease money factor and residual value for a 24-month lease of a 2012 Mazda3 Sedan i Touring with 15,000 miles per year are .00146 and 69%.
The numbers for an otherwise identical 36-month lease are .00066 and 58%.
I'm not sure what credit score is the cut-off for Chase's top credit tier, but I can look into that and see what I am able to find out.
Car_man
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I'm getting close to finalizing a deal, so when available please post the September lease rates.
Thanks,
Ixis14
The numbers for an otherwise identical 36-month lease are .00048 and 57%.
Car_man
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Is it possible to negotiate with a dealer to lower the residual value of a 2012 Mazda 3 (or any car) down to a nominal amount, say $2000 or less? Because of the way my company's car allowance is structured, I can only use it towards a lease payment, not a loan. Due to how much I drive and how long I tend to keep cars, a standard lease doesn't really work for me. I'd like to structure a lease with a high monthly payment (~$500) and a low residual value at the end of the 3 years (~$2000). And what impact, if any, would this have on the money factor?
Thanks,
100OFR
Purchasing additional miles would not have any impact upon the money factor.
Car_man
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Can you please provide the lease numbers (mf & resid) on 24 and 36 month, 12K mi/year leases on the 2012 Mazda 3 Sedan I-Sport and I-Touring models. Also, is there any lease support (i.e., lease cash) being provided?
Thanks
The numbers for an otherwise identical 36-month lease are .00016 and 56%.
The money factors for the '12 Mazda3 Sedan i Touring are the same, but its residuals are 2% higher.
Mazda is not currently providing any cash incentives on leases of this car that I am aware of.
Car_man
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I haven't seen any information about a speed3 lease. Can you post what you can find? THANKS in advance...
Ed
The numbers for an otherwise identical 39-month lease are .00045 and 55%.
Car_man
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Car_man
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I am shopping for 2013/2012- Mazda3 Hatchback Grand Touring,can you please provide money factor for a 15k/yr 36 for Jan2013.
There is a $500 dealer cash incentive on leases of this car right now. Make sure to take it into account during your negotiations.
Mazda is not providing lease support on the Mazda3 any longer.
Car_man
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Car_man
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Could you provide me with the residual value and money factor for a 36-month lease of the 2013 mazda 3 i grand touring hatchback with a manual transmission and 12,000 miles per year? As well as for the mazda 3 is grand touring sedan?
Thanks a bunch!
Could you please provide me with the money factor and residual value for an automatic 2013 Mazda 3 iTouring (zip code 92807). Also if possible (not to change the topic) the same information for a Kia Rio EX 2013 as well?
Thank you very much!
I'm also looking for the residual value and money factor for a 36-month lease of the 2013 mazda 3 i Sport Sedan with automatic transmission and 10,000 miles per year? ... I got a quote today and it looked "interesting", but I just want to be sure.
Thanks a lot!
The numbers for an otherwise identical lease of a 2013 Grand Touring Sedan manual are .00007 and 60%.
Car_man
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Please post any questions that you have about leasing a Kia Rio in the following discussion:
http://townhall-talk.edmunds.com/WebX/.f0dde75/7
Car_man
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Would you please post the lease rates (residual and money factor) for a 12,000 mile/year lease for 36 months beginning in April for zip 66502 (Kansas) for both a
2013 Mazda3 i Touring Hatchback automatic
2013 Mazda3 i Grand Touring Hatchback automatic
as well as any incentives the dealer may get. For all I know, they're exactly the same, but I just wanted to be sure.
Thanks!
The numbers for an otherwise identical lease of a 2013 Mazda3 i Grand Touring automatic would be the same, other than the fact that the residual value would be 1% higher.
There's a small cash incentive on the Mazda3 Sedan, but nothing on the Hatchback model.
Car_man
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Appreciate these forums-
I was quoted on the i-Touring Black Mica Hatchback Mazda m3 15k miles for 36months. Quoted 19800 + fees. And 175+tax=$191 month for 36 months w/ 1500 downpayment and used trade values bout 500 $. Is this worth considering? Any other information I should attain?
Anyway, so if I work out a good sales price on the touring auto one then hit them with lease payments what should I be looking at? Maybe I can talk them out of one for $18,500 all in or out the door. Total cash walk out price I mean. If money factor is .00012 and residual is 59% I am figuring $217/mth. Did I do this correct? The advertised car is $149. might have to go with ad? What do the experts think?
Thank you so much everyone.
Would expect the lease rates on the hatchback to be higher.
Good luck!
Looking for Money Factor and Residiual % for 2012 Mazda3 I-Touring Automatic and the rates for the 2012 I Grand Touring Automatic. While reading previous posts money factor seems to be .00012 Is that correct? Looking at sale prices of $17645 & $18476 respectively, these include the military & loyalty that I don't qualify for. How much can I expect to deal down after adding the $1000 back in. The cars dropped $500 since we were in on Saturday. Is there any more movement on price?
Thanks!
How did it go? Did you get the payment you wanted?
If you really want this car, you will have to either pay cash for it, taking advantage of the $2,250 cash incentive or finance it using the special financing program at 0% for 5 years / 1.9% for 6 years plus a $1,000 cash incentive.
Car_man
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36 months
12000 miles
301.22 pmt
21809.00 price
595 bank fee
No deposit
Cash 664.37
Residual 13078.65
2013 Mazda 3 I touring convenience pack
Sunroof
Bose
Side light signal