Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!

Mazda CX-9 Lease Questions

13567…23

Comments

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello remmib. You're right, the money factor that you were quoted for this truck is too high. Mazda's current buy rate lease money factor for a 24 month lease of a 2007 CX-9 AWD is only .00075 for consumers who qualify for its top credit tier. Either your credit is not in great shape of the dealer that you are working with is trying to mark your vehicle's money factor up to add additional hidden profit to your deal.

    $200 under invoice is an outstanding selling price, but it is not as good as it looks at first glance if the dealer is marking up your money factor.

    I see that you are being asked to make a $3,450 down payment on your lease. That is too much money to pay at lease signing. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Consumers who make them risk losing hem if their vehicle is totaled in an accident or stolen and never recovered. All you have to pay at lease signing are your vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, Mazda Credit's $475 acquisition fee, and any required state taxes or fees.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new CX-9, jvost. Thanks for taking the time to share the details of your deal with everyone. Real world examples of leases like yours are always very helpful for consumers who are in the market for similar vehicles. Enjoy your new ride!

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi michelle312. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Since you are eligible for Mazda's S-Plan, you should be able to get a great selling price on this truck without having to haggle. Just make sure that the dealer you are working with uses Mazda's current 36 month buy rate lease money factor of .00138 to calculate your monthly payment and you're in business.

    I see that you are considering trading in your current car when you lease your new CX-9. There's nothing wrong with trading a vehicle in when leasing, but it would be in your best interest to have the dealer that you are working with cut you a check for any equity that you have in your trade rather than using the proceeds from it as a capitalized cost reduction for your lease. I always advise consumers against making large down payments when leasing. Those who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi greenteam. Mazda's special lease money factors for the 2007 CX-9 are the same for all variants of it. They do vary by term through. If you were to lease any CX-9 through Mazda Credit right now for 36 months, its buy rate lease money factor should be .00138. Its 36 month, 15,000 mile per year residual values for the CX-9 are 54% for the AWD and 52% for the 2WD model. They are 2% higher for leases with only 12,000 miles per year.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jnorris765. Are the prices that you mentioned in your post these vehicles' MSRPs or their selling prices? It is important to know both of these numbers for any vehicle that you want to lease. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what these vehicle's prices are, you don't know how much of a discount you are being given on them. Let me know what they are and I'll gladly give you my opinion on these deals.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey maradag. The unscheduled enhancement that Mazda made to its April lease program was only on the CX-7. The CX-9's program is still the same as they were when they were introduced at the beginning of the month. Mazda's current buy rate lease money factor and residual value for a 24 month lease of a 2007 CX-9 AWD with 15,000 miles per year are .00075 and 64%, respectively. The numbers for an otherwise identical 36 month lease are .00138 and 54%.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello buffalo78. Mazda's current buy rate lease money factor for a 36 month lease of a 2007 Mazda CX-9 is .00138 for consumers who qualify for its top credit tier. Make sure that the dealer you are working with uses this factor to calculate your monthly payment.

    You never mentioned the selling price of the CX-9 that you are interested in leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be glad to give you my opinion of this deal if you let me know what its selling price is.

    For now I can tell you that you would be better off having the dealer that you are working with cut you a check for all of the equity that you have in your trade rather than using part of it as a capitalized cost reduction for your lease. Consumers who make large down payments on leased vehicles risk losing them if their car or truck is totaled in an accident or stolen and never recovered.

    Car_man
    Host
    Prices Paid Forum
  • jnorris765jnorris765 Member Posts: 6
    The MSRP that I'm looking at is 39000, I believe I can this down to approx 36000.

    Since I am looking to do 2 deals at the same time, I believe this should get some better leverage?

    What do you think?
  • mikezoomzoommikezoomzoom Member Posts: 69
    FYI...

    Every Mazda Dealer has the right to charge up to .00104 over the "Buy Rate" money factor per the guidelines of Mazda American Credit's subvented lease programs.

    The "Buy Rate" money factor used is determined on approval using Mazda's tier system (deal has to be submitted).

    The .00104 mark-up allows a dealership to possibly make a finance reserve profit. "Buy Rate" vs "Sold Rate".

    I hope this explains to all why there might be differences in the money factors being discussed. A dealership doesn't have to give the "Buy Rate" to anyone, however it's just one more item to be negotiated if need be.

    The dealer's are entitled to make their profits in some aspect of a deal. It may be in the margin of a price, allowance of a trade, profit from financial reserve, or revenue from offered products.

    Yes... I'm a dealer. I do see scenarios from both sides. :)

    ZOOM-ZOOM
  • maradagmaradag Member Posts: 85
    Mike,

    Thanks for the insight. Its always nice to have a dealer visit the sights to sort of balance the discussions.

    Maybe you can also offer tips on how to get the best deal!!

    Thanks again,
    Mare
  • maradagmaradag Member Posts: 85
    I meant sites. Sorry.
  • buffalo78buffalo78 Member Posts: 36
    Car_man,
    Thank you for the response. The problem I had when getting #'s was that the dealer would not give me the price they were selling me the vehicle for (one of the main reasons I told him I was leaving), he tried giving me the "we'll give you more for your trade" line and still using msrp.
    I understand your point about not putting much if any $ down on a lease. Unfortunately I need a lower payment. So putting 0 down isn't an option at this time.
    It is kind of funny though, because I emailed the dealership that has the actual vehicle, and they told me it was already sold. So the dealer I was working #'s with couldn't even get me the vehicle anyways.
    Thanks again for the response.
  • brickfrenzybrickfrenzy Member Posts: 38
    I picked up my lovely Stormy Blue CX-9 GT AWD last night. Sand interior, with Navi, moonroof, homelink, and wheel locks. I got it for the S-Plan price. From the lease paperwork:

    Gross Capitalized Cost: $37454.04
    Capitalized Cost Reduction: $2911.94 (trade-in value of my Passat)
    Adjusted Capitalized Cost: $34542.10
    Residual Value: $24691.20
    Monthly Payment: $454.87

    24 month lease, 15k miles per. I received the .00075 MF, and 64% residual, the best rates currently available.

    My only money out of pocket up front was the trade-in value, and first month's payment.

    I'd like to thank this forum for all its help. I went into this deal knowing so much more about leasing than I ever would've expected, and it helped me avoid any potential pitfalls. I know I got the best deal I could given the circumstances, and I'm very very happy with this car.
  • magoo99magoo99 Member Posts: 13
    The last Mazda dealer I visited indicated that they were not willing to significantly discount the CX-9 because it is a hot selling car. In the mean time for the last month I've been searching the inventories of three dealers in my vicinity waiting for them to get a car equipped close to the way I want it. From what I can see, all three dealers have all been sitting with the same inventory of CX-9's for over a month. They are more than willing to get the car I want from dealers 300 miles away but since I'm in no hurry I am willing to wait. Has anyone else had this experience or am I missing something!!
  • maradagmaradag Member Posts: 85
    Ok... funny you bring this up because I had the same experience with a different car dealer though.

    I emailed about that and basically, the response that I got when I inquired is that they've sold those vehicles except they haven't taken them off the website inventory list (which I think is hogwash).

    If you're in no rush, then hang in there... Some dealers expect us to believe every word they say even after we've shown them some of our cards. Some find a way to work themselves out of a whole they've created. Example:

    I requested several quotes for a CX9 touring. After receiving the initial email response back from a Mazda dealer in Connecticut, I replied with "I see your quoting me MSRP".

    Dealer comes back and slyly avoids answering directly. Instead he says "We sold 6 of these and they all go for sticker price. I gave you our internet discount which is $250.00"

    Mind you, he did quote me the MSRP even with a whopping $250 discount (woooohoooo).

    Needless to say, I said "Thanks for your time. Dealers in NY are quoting me prices that are just a few hundred dollars from invoice, so I'll stick to dealing with them".

    Well, he suddenly changed his tune and offered a bigger discount, but still not significant enough.

    Haven't bought yet; I'm waiting to see if Mazda improves its leasing program within the next few months.
  • remmibremmib Member Posts: 32
    I guess it depends on your area. In the SF Bay area I've been getting quotes from invoice to a few hundreds below invoice. Dealers' first quotes are always high - close to MSRP or maybe $1000 off. As soon as I said there is a dealer quoting me below invoice, they all asked how much below and wondered if I would go in if they can beat the quote... Not all dealers do that, but a few do. I don't think they are selling a lot of CX-9s, I still get dealer calls every week after more than 1 month of initial contact. I'm just waiting to sell my car first...
  • audia8qaudia8q Member Posts: 3,138
    I hope this explains to all why there might be differences in the money factors being discussed. A dealership doesn't have to give the "Buy Rate" to anyone, however it's just one more item to be negotiated if need be.

    There is another reason why the money factors may be different...Only the top tier credit qualifies for the best rates. The dealer has no control over the tier rating, mazda credit makes that determination based on the customers credit and the deal structure. Mazda has 5 different tiers....for example the tier 3 MF is .00219 for 24 months and much higher for tier 4 & 5.
  • sellstar1sellstar1 Member Posts: 19
    I've been quoted from $2500 below MSRP to $1000 below invoice at different dealers in Atlanta area. I've only seen three or four of these on the road (ironically one in our parking garage at work) and am wondering if they're really selling these things. I see nationally Mazda sold about 4,000 in March and made about the same number. That's up from a little over 3K in February as I remember.

    Anybody else seeing a bunch of these on the road?
  • maradagmaradag Member Posts: 85
    Haven't seen one yet. As a matter of fact, I've only seen 1 CX7.

    Makes you wonder where the people who the dealers claim they've sold "several of these vehicles" to are.
  • magoo99magoo99 Member Posts: 13
    As I mentioned in an earlier post, an inventory search in my area of three dealers indicates they have been carrying the same CX-9's for over a month. I have re-visited one of these dealers and have confirmed that the inventory search on mazdausa.com was accurate. I have not seen a single CX-9 on the road. These cars are not as hot as dealers are telling us. Of all the cars I've looked at and test drove the CX-9 is at the top of my list. The fact that they are not moving all that well should allow for negotiating leverage. I would not consider buying one of these unless I could get it at or close to dealer invoice. I can't wait to see what incentives they may offer as we get into May.
  • brickfrenzybrickfrenzy Member Posts: 38
    I've only seen one on the road in the Cleveland area, and a handful of CX-7's as well.
  • unixxusunixxus Member Posts: 97
    I've seen five CX-9s on the road in the Washington DC area this month.
  • steve138steve138 Member Posts: 9
    Does anyone know the new numbers in the Limited 2WD w/RES?
  • maradagmaradag Member Posts: 85
    I was told by the dealer that May's programs would be the same as April. Someone correct me (or the dealer) if we're wrong.
  • 96gator96gator Member Posts: 10
    Can anyone tell me if this is a good deal? it is a Touring with rear Nav system

    MSRP $34,290.00
    Base CAp $30635.79
    adjusted cap $31,725.00
    residual 54%
    money factor .00159

    Invoice is $31862.00
    Only inceptions due.

    36 month 12K mile lease price $462.00 plus sales tax..
  • maradagmaradag Member Posts: 85
    Using $31,725 as the negotiated price, I get $446.78 per month (w/o tax obviously).
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, jnorris765. Let's work up a sample lease payment and see what we come up with. According to my calculations if you were to lease a 2007 Mazda CX-9 AWD that has an MSRP of $39,000 and a selling price of $36,000 through Mazda Credit right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $494, assuming that you qualify for its top credit tier.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, buffalo78.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that you found this forum so helpful, brickfrenzy. Thanks for taking the time to share the details of your lease with everyone. I'm sure that others will find this information very useful. Enjoy your new ride :) .

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi steve138. Mazda's lease program for this vehicle varies by term and mileage allowance. You never mentioned what either of these variables are so for now I will assume that you're interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Mazda CX-9 Limited 2WD with 15,000 miles per year are .00138 and 52%, respectively.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 96gator. The selling price that you were quoted for this truck looks very attractive to me. The money factor is slightly high though. Mazda Credit's current 36 month buy rate lease money factor for this model for consumers who qualify for its top credit tier is .00138. Make sure that you insist that the dealer uses this factor to calculate your monthly payment.

    Car_man
    Host
    Prices Paid Forum
  • dbor131dbor131 Member Posts: 3
    I appreciate all of the great info on this forum...

    From what I have read, MF * 2400 = Int rate. But why is the MF applied to the Adjusted Cap Cost plus the Residual? If I buy a car with zero down and take out a loan, I am charged interest on the amount of the loan.

    Assuming residual is ~50%, the MF is being applied to roughly 150% of invoice (adj cap cost+ 50%residual). So, MF of .00138 * 2400 = 3.312% * 1.5 = 5% real interest rate.

    Do I have this right? Thanks.
  • just_philjust_phil Member Posts: 86
    No, the reason that you add instead of subtracting is because you want to get the average of the two numbers. For example, to get the average of a and b, you would do (a + b) / 2. So where is 'divide by 2' you ask? It's there in '2400'. What's 2400? It's 12 months / 0.01 (to convert from percentage to fraction) * 2.

    In other words: take you 3% interest rate. Convert it to a monthly fraction: 3%/100/12. Now multiply that number to the average of the loan balance (a+b)/2. You will get 3% * (a+b) / 2400. This gives you the portion of monthly payment spent on financing.

    So the final answer is - it's 3.312%, and not 5%.

    Sorry for the clumsy explation - I tried :-)
  • dbor131dbor131 Member Posts: 3
    Brilliant! I was wondering where the 2400 came from.

    I got the .01 and the 12 months to get 1200, but was missing the extra 2. Averaging the beginning and ending figures accounts for the missing 2.

    Thanks.

    Now I just need to find the model (T, maybe GT) in the color combo (? with Sand Lthr int) we want with the options (RSES + misc dealer inst) we want. ;)
  • lukesdaddylukesdaddy Member Posts: 12
    Hey Car_Man,

    I plugged the numbers in to the Edmunds lease calculator and based on the numbers in this thread come up with a payment closer to $600 a month. How did you get $494? Would like to know as I plan on starting my negotiations soon.
  • dm13850dm13850 Member Posts: 14
    Does anyone know the MF and residual for a CX-9 GT AWD for 36 months with 10k miles per year?

    Thanks in advance.
  • edmundskbedmundskb Member Posts: 3
    I went to my local Mazda dealer looking for a CX-9 Touring AWD without any extra options. They didn't have any in stock but said they could get one for me. SO.... I did some negotiating and put a $500 deposit on the vehicle.

    Here's the deal = CX-9 Touring AWD, 24 month lease, $380 per month, $2,900 Total out of pocket at signing. He assured me that the only thing I would give him at signing was a check for $2,900.

    Is this deal too good to be true?

    I called him a week later for a status on the vehicle and he said to give him a few more days to find out exactly when its coming in. I spoke to two other Mazda dealers and both said "You're not getting that vehicle for that price".

    What do you guys think?

    -Kevin-
  • audia8qaudia8q Member Posts: 3,138
    How many miles per year and what is your tax rate? Also does your state have property tax on the lease? I'm assuming the MSRP is apx $32,930

    Depending on the miles and taxes it looks possible to me..but there isnt alot of fat left.
  • edmundskbedmundskb Member Posts: 3
    12k Miles. Tax rate is 8.625. Not sure about MSRP.

    I know he said that I am getting the vehicle at invoice which is a little over $30,000.
  • baxterdownbaxterdown Member Posts: 36
    Hi everyone,

    I know that when you trade in a car you have a sales tax advantage, as you only pay sales tax on the difference between the trade-in and the new car.

    Is that the case on a lease too? (I am trying to determine if I am better off selling my car outright and making a couple of grand or trading it in and save myself a couple of grand on taxes)

    Thanks in advance for your help!

    Jose
  • dm13850dm13850 Member Posts: 14
    Would appreciate any info on the MF and residual for a CX-9 GT AWD for 36 or 24 months with 10,500 miles per year.

    Thanks!
  • bodidbodid Member Posts: 88
    Hi Car_Man,

    It's been a long time. How have you been? Back in the lease groove again, maybe. Way back in 03', I was looking for an Audi Allroad. long story short, it was a lemon and Audi bought it back from me only after I threatened Lemon Law proceedings on them. Interesting how fast a company can move when presented with the potential of losing 40K+. Oh well, live and learn.

    This time, I'm looking for either a Mazda CX-9 AWD Grand Tourer or an MDX AWD with Sport Trim, for either 24 or 36 months, and 15-18K miles per year. I'll need mf's and residuals if you please.

    Could you also give me and idea if mf's are going down as we go into the summer? I'm up in the air on leasing this time around because I'm at the 'cusp', approaching 18k miles per year and I'm not sure if leasing is still attractive for me, but I like having a car on warranty, and I like the idea of a new car every 3 years. If I buy and sell after 3 years, will I be losing more money because of depreciation?

    Your thoughs my good man, and thanks again for all your good work you do here.

    Bo
  • 0314kms0314kms Member Posts: 2
    I received a quote for a lease on a CX-9 Grand Touring w/nav, moonroof and Bose, w15K miles, 36 mo ,$1500.00 down and $569/mo. inc all taxes. MSRP was 39,012. "sale price" was 36,520. Should I take it or is there a better offer I should negotiate.

    Mich
  • bodidbodid Member Posts: 88
    Car_man,

    Do you have lease numbers for the CX-9 for June yet?

    -24 months/36 months
    -15K/18K

    Thanks,
    Bo
  • carrieb3carrieb3 Member Posts: 4
    Hi there!

    I have been dealing with a fleet manager on a GT FWD with navi, rear DVD, dimming mirror w/Homelink, roof rack and satellite radio (and wheel locks, but not sure what that means). MSRP is $39,100.

    Her offer is $36,266
    Invoice is $35,680 (from my research through KBB, Edmunds and MSN)
    She says it is $500 over invoice, I find it is $586
    With a 2% dealer holdback on the invoice, the dealer stands to make $713 plus my $586 over invoice = $1300 profit.

    She worked out lease terms for me: 36 months, with 12K, $900 drive-off and payments of $580.

    I have asked for my money factor and residual, but she has not provided that yet. She says it is quoted at "tier 1 credit".

    I need to go back to her and negotiate a better deal. I want to go back to her and offer $200 below invoice and increase my mileage to 15K yearly.

    Do I stand a chance?
  • bodidbodid Member Posts: 88
    Go back and give her your offer and stand firm. She'll have to get the mgr. and then give him/her your offer. I'd only soften to invoice, but walk away if they don't budge. They'll come after you. I'd wait till after 6/4 because I believe June's MF's will continue to go down (summer lull and gas prices). Also consider this, why not wait till the end of the summer when they'll be pushing the 07's out the door to make room for the 08's? Personally, I'd wait until July/August, providing you don't have to rush into this immediately.

    Bo
  • carrieb3carrieb3 Member Posts: 4
    Great advice Bo. Thank you.

    She called me at 8:30am to tell me she came into work early prepared to drive to Bakersfield to pick up the car on dealer trade. Bakersfield had called her and said that they had it sold (between yesterday afternoon and this morning) so she can't have the car.

    I think this works in my favor, as the factors you mentioned will help me negotiate better in a few months. Besides, I plan to take my three kids to the beach a lot this summer and I wouldn't want all of that sand in my new CX-9!

    I'll be spending more time here over the next few months! Thanks for your help!

    Carrie
  • jodonyjodony Member Posts: 4
    end of the month special at a NYC area dealer: $200 over invoice for a CX-9 GT AWD with moonroof/bose and a few small options. great deal! so the CX-9s are becoming more affordable. had the car for a few hours now and its fabolous. the 20-inch wheels make the car drive hard, we love it.
  • carrieb3carrieb3 Member Posts: 4
    I spent a lot of time on the phone all day long and am now the proud owner of a Grand Touring! My only concession was to go with the black leather interior, which I think will be great!

    My GT has everything I mentioned in an earlier post (navi, rear assistance, BOSE, rear entertainment DVD) and bottom line was $200 over invoice with a MF of .00115 and a residual of $21K.

    I am very, very happy with my deal and the car is beautiful! Love the white pearl mica.

    If you are in the southern CA market, I cannot praise Norco Mazda enough. They were wonderful and I have to say this is my best car buying experience ever.
  • bodidbodid Member Posts: 88
    Is the .00115 the MF for May or June? how many months, miles per year? Also, what was the MSRP, and the price negotiated?

    Thanks,
    Bo
This discussion has been closed.

Helpful Tools

Most popular vehicles