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Mazda3 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Tim. Chase's July buy rate lease money factor and residual value for a 36-month lease of a 2012 Mazda3 i Sport 4-Door with auto and 10,000 miles per year are .00066 and 58%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • sentientsentient Member Posts: 4
    edited July 2012
    I wanted to report back on my experience for the potential benefit of others. I think I got a decent deal, although I'm sure someone out there has pushed even harder. It seems like a good deal to me though and I was happy to sign.

    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.
  • tonesterttonestert Member Posts: 3
    Hi,
    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.
  • autonomousautonomous Member Posts: 1,769
    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.
    Agreed!
  • balthazar9balthazar9 Member Posts: 19
    Hi car_man,

    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?
  • qbrozenqbrozen Member Posts: 32,863
    edited August 2012
    The TMV? That's not the whole picture, I don't think. An uptick in mileage changes the residual value, and I can pretty much guarantee it is more than $207.

    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

  • balthazar9balthazar9 Member Posts: 19
    The reason I looked at the TMV was because the residuals try to predict the value of the car at the end of the lease, factoring mileage and age. The dealerships I went to had published residuals to 15k/yr. After that they charge a rate of 10 cents per mile. So I was using the TMV to get an estimate on the value of the car after the additional mileage.

    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.
  • balthazar9balthazar9 Member Posts: 19
    @ car_man

    I forgot a detail, the car I requested the info for is the 4-door sedan. Thanks!
  • qbrozenqbrozen Member Posts: 32,863
    oh, right. 5k/year.
    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

  • balthazar9balthazar9 Member Posts: 19
    It would be easier if they'd use a residual for 18k per year. But both the Subaru and Mazda dealer I visited would only quote 15k and then charge for the extra 3k miles. Arguing less than 10 cents shouldn't be too hard, I'm just worried they'll just say the leasing company charges that flat rate and they can't change it. I of course wouldn't be able to verify if that's really the truth.
  • kyfdxkyfdx Moderator Posts: 234,725
    I'm just worried they'll just say the leasing company charges that flat rate and they can't change it.

    They would be telling the truth...

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  • balthazar9balthazar9 Member Posts: 19
    kyfdx,

    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?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi balthazar9. I've seen information about leasing this car for 39 months, but I haven't looked into a 42 month lease of ye before. I'll look into that for you.

    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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  • balthazar9balthazar9 Member Posts: 19
    Car_man

    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.
  • balthazar9balthazar9 Member Posts: 19
    Hi Car_man,

    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! :)
  • ixis14ixis14 Member Posts: 4
    edited September 2012
    Hello Car_man,

    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome balthazar9.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey balthazar9. Chase's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Mazda3 i Touring Sedan with an automatic transmission and 15,000 miles per year are .00066 and 58%.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Ixis14. Mazda's August lease program is scheduled to run through September 4th, so its new Sept. numbers won't be available until some time on the 5th at the earliest.

    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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  • ixis14ixis14 Member Posts: 4
    Thank you for the August lease rates Car_man.

    I'm getting close to finalizing a deal, so when available please post the September lease rates.

    Thanks,

    Ixis14
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Mazda's September 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 .00118 and 66%.

    The numbers for an otherwise identical 36-month lease are .00048 and 57%.

    Car_man
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  • 100ofr100ofr Member Posts: 4
    Car_man,

    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 100OFR. Banks typically don't allow consumers to negotiate lower residual values on vehicles (before anyone corrects me, I know that there have been exceptions to this rule in the past...but they are few and far between :) ). What you need to do is to purchase additional miles on a per-mile basis. You should be able to purchase a ton of additional miles at lease signing at a discount to what you would have to pay for them at lease-end.

    Purchasing additional miles would not have any impact upon the money factor.

    Car_man
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  • dolphin5dolphin5 Member Posts: 80
    edited October 2012
    Hi Car_man,

    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dolphin5. Chase's October buy rate lease money factor and residual value for a 24-month lease of a 2012 Mazda3 Sedan i Sport with 12,000 miles per year are .00075 and 65%, respectively for consumers who qualify for its top credit tier.

    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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  • nearyednearyed Member Posts: 11
    Hey Car_man,

    I haven't seen any information about a speed3 lease. Can you post what you can find? THANKS in advance...

    Ed
  • banshee24banshee24 Member Posts: 5
    Wanting to get the Money Factor and Residual for a 2012 Mazda 3 i Grand Touring for 36 Months and also 42 months please if anyone can help?
  • banshee24banshee24 Member Posts: 5
    I'm in Arizona BTW
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings banshee24. Chase's November buy rate lease money factor and residual value for a 36-month lease of a 2012 Mazda3 i Grand Touring Sedan with an automatic transmission and 15,000 miles per year are .00025 and 57% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 39-month lease are .00045 and 55%.

    Car_man
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  • supraner1supraner1 Member Posts: 1
    What is the significance of buy rate lease money factor and residual value? I understand what the RV is but can I use these to calculate how good their lease offer is?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi supraner1. The money factor is important to know because it is used to calculate the interest portion of lease payments. Dealers are sometimes allowed to mark vehicles' money factors up to add additional, hidden back-end profit to deals. That's why one should always check to make sure that the dealer is using the correct money factor to calculate their lease payment. Not to mention the fact that it enables consumers to calculate payments on their own if they want to.

    Car_man
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  • randy50randy50 Member Posts: 15
    edited January 2013
    Car_man,
    I am shopping for 2013/2012- Mazda3 Hatchback Grand Touring,can you please provide money factor for a 15k/yr 36 for Jan2013.
  • davidmbrucedavidmbruce Member Posts: 9
    Could you provide the money factor and residual for the 2013 mazda3 i touring? If my math is right from the mazda web site, it appears to be 66%, which is quite high, but do not have the money factor to prepare an offer. thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Certainly randy50. Chase's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Mazda3 i Hatchback Grand Touring with 15,000 miles per year are .00135 and 58% for consumers who qualify for its top credit tier.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi davidmbruce. Chase's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Mazda3 i Sedan Touring with an automatic transmission and 15,000 miles per year are .00011 and 57% for consumers who qualify for its top credit tier.

    Car_man
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  • berliner5000berliner5000 Member Posts: 4
    Hey!

    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!
  • frozzenarmfrozzenarm Member Posts: 1
    Hi Car_man,

    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!
  • carvasdcarvasd Member Posts: 3
    Hey Carman!

    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!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Sure berliner5000. Chase's March buy rate lease money factor and residual value for a 36-month lease of a 2013 Mazda3 i Grand Touring Hatchback with a manual transmission and 12,000 miles per year are .00012 and 61% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2013 Grand Touring Sedan manual are .00007 and 60%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi frozzenarm. Chase's March buy rate lease money factor and residual value for a 36-month lease of a 2013 Mazda3 i Touring with an automatic transmission and 15,000 miles per year are .00007 and 58% for consumers who qualify for its top credit tier.

    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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  • will_ksuwill_ksu Member Posts: 8
    edited April 2013
    Hi Car_man,

    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!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings will_ksu. I'd be happy to help you out. Chase's April buy rate lease money factor and residual value for a 36-month lease of a 2013 Mazda3 i Touring Hatchback automatic with 12,000 miles per year are .00012 and 59% for consumers who qualify for its top credit tier.

    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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  • samalisamali Member Posts: 12
    edited April 2013
    Hello,

    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?
  • chadecoenchadecoen Member Posts: 13
    Hello everyone, I am looking at leasing a 2013 mazda3 hatchback. Am on a lease calc site trying to figure out payments based on car price, money factor (.00012), and residual (59%). The lease deal they are advertising isn't on the hatchback so it is a moot point anyway but seems awfully affordable. Advertisement is on mazda site for the sedan is $2K dn and 149./mth. Seems reasonable. But I want the hatchback.

    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.
  • michaellnomichaellno Member Posts: 4,120
    Not a lease expert but I believe the $149/mo special is for the i SV sedan, which doesn't have the SkyActiv engine.

    Would expect the lease rates on the hatchback to be higher.

    Good luck!
  • chadecoenchadecoen Member Posts: 13
    Ah ha, should have considered that. Skyactive is one of the main reasons I am looking at a gas vehicle instead of a little diesel. Really like the look of the hatch and skyactive MPG is a bonus! I think I am just going to go in to my local dealer guns blazing demanding a 170ish/mth lease on the hatch. Either they will figure out a way to get me there or I can go elsewhere. I only want to give them a grand up front though. They may want a little more than that to get me there. We will see.
  • mb116mb116 Member Posts: 1
    Hi CarMan'
    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!
  • michaellnomichaellno Member Posts: 4,120
    Ah ha, should have considered that. Skyactive is one of the main reasons I am looking at a gas vehicle instead of a little diesel. Really like the look of the hatch and skyactive MPG is a bonus! I think I am just going to go in to my local dealer guns blazing demanding a 170ish/mth lease on the hatch. Either they will figure out a way to get me there or I can go elsewhere. I only want to give them a grand up front though. They may want a little more than that to get me there. We will see.

    How did it go? Did you get the payment you wanted?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello mb116. Mazda isn't providing lease support on leftover 2012 Mazda3 Sedan models any longer. This is pretty typical this late in the model year.

    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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  • xian5681xian5681 Member Posts: 13
    Just got a quote from San Diego dealer.... Someone please tell me how I should proceed.

    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
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