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Mazda CX-9 Lease Questions

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Comments

  • chop2chop2 Member Posts: 3
    This deal was for cars in their inventory only.
  • tlynnr2tlynnr2 Member Posts: 1
    How's this look for a GT at Hixson Autoplex in Alexandria, LA?

    MSRP: 33270
    Negotiated Purchase Price: 31200
    MF: .00137
    Residual @12k miles: 52%; @15k miles: 50%
    Monthly Payment @12k miles: $483; @15k miles: $500
    Cash on signing: firt month's payment
  • southpaw75southpaw75 Member Posts: 33
    Anyone know anything about a $1k rebate on the CX-9? Does that include leases?
    I got a quote from a dealer for invoice with the normal money factor and residual that has been posted here. Just wondering if I can get it even cheaper. Thanks.
  • steve138steve138 Member Posts: 9
    I am in South Florida. My wife just got offerred a FWD Touring w/ sunroof. leather, Bose, heated seats....39 month/15K list is $33985. They would "sell" it for $31,800 with a .00137 MF and 54% residual. No money down.

    How much should this come to? Is it a fair deal?

    Thanks
  • southpaw75southpaw75 Member Posts: 33
    steve - MF and residual look about right. Selling price is $2k below sticker which is not bad. I got a quote for invoice pricing but that's an AWD model and I'm in Wis. not Florida so I don't know how demand is down there.
  • steve138steve138 Member Posts: 9
    What is this S-plan people are referring to?
  • pesl68pesl68 Member Posts: 1
    Please tell me (esp. car-man) this is a good deal or not?

    CX-9 Touring with rear entertainment,
    MSRP: 34530
    Negotiated price: 31795=invoice
    27 months
    15000 miles annually
    3500 total drive away
    Monthly payment: $349(Tax included)

    Regards
  • steevosteevo Member Posts: 389
    Car_Man..do you have the April MF and Residuals for 15,000 per year? 36 and 24.
    Thanks!
  • wfk21wfk21 Member Posts: 8
    Here is the deal I signed on 3/21/07 at John Scanlon Mazda in Fort Myers, FL (125 miles south of Tampa);

    CX-9 Grand Touring with NAV and RSES/Bose
    MSRP: $37,930
    S-Plan Price: $34,615
    39 months
    LF: .00230
    15,000 miles annually
    $0 out of pocket, they paid the 1st months payment, plus $188 in misc fees.
    Monthly payment: $521 (includes tax)

    I waited over a month for the Liquid Platinum Metallic/Sand Interior combo to arrive to port and then finally be delivered. They made me hold the vehicle with a $500 deposit. They did try to get me to throw the $500 towards the vehicle but I said NO and they promptly refunded my money.

    At lease signing they had thrown into the deal a tire/wheel guarantee for $299 that covers the vehicle for 3-years.

    One mistake I made was not to ask for the original proposal in writing (and I'm a banker) because when I went in the day before the vehicle was to arrive to run through the numbers again the sales manager didn't remember our exact discussion, but we worked through it.

    My Progressive auto policy increased about $120/year going from a 2003 Mazda 6 to the 2007 CX-9.

    So far, the CX-9 has exceeded all expectations. The LCD screen on the DVD player did not work and the dealer has ordered me a whole new RSES to replace it with.

    Gas mileage seems a little harsh but its most likely because I'm working through the first few hundred miles.

    Hope this helps

    Regards
  • creampuffcreampuff Member Posts: 2
    Am currently waiting on delivery of a galaxy gray Mazda CX 9 touring with Bose stereo/6 CD & moonroof, black leather. Apparently need to get local dealers to "trade" as they are so new and none are available at this dealership in this color combo. Quoted for $402/month/12,500miles, including $3000.00 down as well as payng off Mountaineer and still making another $3000.00 I walk away with. Does the monthly sound right? Never leased before...
  • remmibremmib Member Posts: 32
    Carman,
    Can you explain what does it mean by "Those who make a cpatialize cost reduction risk losing it if their vehicle is totaled in an accident or stolen and never recovered"?

    I am considering leasing a CX-9, and I thought larger down just mean lower monthly payment and less finance charge on the "borrowed" money.
    Do you mean if the car is totaled in the middle of the lease, the insurance will pay less? Isn't there gap insurance built into a lease and in case of total/stolen one could just walk away?
  • steevosteevo Member Posts: 389
    After the vehicle is stolen or totaled, the Insurance plus Gap will "pay off" the lease.
    So ALL money YOU paid up front is GONE.
    Essentially, if you rolled EVERYTHING into the lease and it was stolen after 1 month, you would only be out 1 months(larger!) payment. But you would still have that cash.
    I believe the same applies for the taxes.
  • jvostjvost Member Posts: 37
    Hi wfk21 -

    Was a lease acquisition fee and/or a dealer & handling fee added to your lease?
  • wfk21wfk21 Member Posts: 8
    no, neither were added
  • maradagmaradag Member Posts: 85
    Pesl68,

    How much money are you putting down to have a payment of $349?

    Additionally, what is the money factor and residual you were quoted in order to come to that payment. Seeing the quotes others are getting your payment seems really low (not knowing all other pertinent info).

    Let us know.
  • remmibremmib Member Posts: 32
    Arr... thanks Steevo.
  • remmibremmib Member Posts: 32
    Just received a quote, please comment.
    MSRP 39545 (GT-AWD, Moonroof/Bose+Assistance+Tow+Roofrack+lock)
    sell price: Sales guys claims he'll do $200 below invoice
    Down: $3450 ( Don't know what this include or not include)
    Residual: $26495 67% 12k miles/year
    Terms: 24 months
    MF: 0.0150 (seems high to me)

    Does it sound reasonable?
  • steevosteevo Member Posts: 389
    Whats the payment?
  • jvostjvost Member Posts: 37
    I just leased a new CX-9 in Denver.

    The vehicle was equipped as follows:

    GT AWD ($33,875), Roof Rack ($250), Remote Engine Start ($350), Splash Guards ($125), Moonroof/Bose Pkg. ($1760), Towing Package ($450), GT Navigation Package ($2100). The MSRP with delivery was $39,505. The dealer offered a price of $36,000 plus $399 Dealer & Handling for a total price of $36,399, which I accepted.

    According the dealer, Mazda's April lease terms for 10,500 miles per year were: 24 mos = 67% residual and .00075 Money Factor; 36 mos = 57% residual and .00138 Money Factor. This meant a 24 mo. lease was cheaper than a 36 mo. lease, so that's what I went with. The acquisition fee was $595, which I added to lease.

    To recap, the final capitalized cost was $36,994 ($36,000 + $399 + $595) $0 down, $0 security deposit, just the first months' payment, which worked out to be $486.17 before Denver sales tax is added.

    Overall, I guess $486/mo. for a $0 down lease is O.K., but I think the residual's a bit on the low side.

    I picked the galaxy gray paint with the sand interior, which I think is a particularly nice combination, at least with the leather interior. The gray trim in the sand upholstery matches the exterior paint nicely.
  • michelle312michelle312 Member Posts: 4
    Can someone please help? I am looking at a CX9 Sport - no real bells and whistles. I can take advantage of S plan if that helps. I've never leased before (am a single mom and am looking for a lower monthly payment) and have no idea if I'm being taken advantage of. I'm trading in a 2002 Nissan Altima 2.5 S in fair to good condition. I owe $2900 on the Nissan. Here is what the salesman offered:

    The MSRP is 31,180
    9,000 for my Nissan
    595 for destination
    1,400 cash back to me
    $0 down
    Pay off my Nissan for $2900
    36 month lease for $375 (12,000 miles)
    Buy at end of lease for 14,961

    Any help most appreciated!!!
  • steevosteevo Member Posts: 389
    I'll take a crack at this.
    You say you have s-plan so I'll assume that gets you the car at invoice. I'll use the April lease rates that jvost just posted.
    Invoice is 29343. If they are really giving you 9000 for your car and you owe 2900, then that gives you 6100 dollars to play with. Plus you say you get a 1400 cash back. So thats now 7500 dollars to take off. Thats your Capitilized Cost or cost to BUY the vehicle. Plus that 595. This is what they plug in to get the lease.
    So I get a monthly of about 185 WITHOUT tax. 200 with tax if you live in a state with 8.5 sales tax. Even if I'm wrong(likely) should still be no more than say 250 a mponth tops.
    So, if you ask me, you are being robbed. They are essentially stealing your Altima.
    Maybe they are taking your Altima money and applying it to reduce the buyback and pay some upfront fees. But if they say they are giving you 9000 for the car, you are being played.
  • michelle312michelle312 Member Posts: 4
    Thanks so much for taking a look at this. The $375 with no cash down sounded good at the time, but just didn't seem right when I remember hearing ads for a Cadillac Escalade lease at $399/mo. I actually said something to that effect but the salesman said 'well, the fine print there is to put $5,000 down.' And after thinking about the equity in my car I realized I was putting down more like $6,100 - so something just didn't sound right. I appreciate your help - I'm going to do some more homework on this.
  • michelle312michelle312 Member Posts: 4
    O.k. new angle i guess . He's saying that i can't remove the $6100 from the s-plan cost of 29,900. Because it would do something with the capitalized cost. He needs to get me back in there to show me on his computer. My question would be , Does putting down money change the capital cost
  • jg6jg6 Member Posts: 70
    http://www.carspace.com/guides/How-to-Calculate-Car-Lease-Payments
  • steevosteevo Member Posts: 389
    Then what did he do with the 6100? He needs to get you down there not to show you, but to put the screws to you and get you to sign into a deal.
    Residuals are based on the MSRP. The Money Factor is the bank rate.
    The Capitalized Cost is, essentially, the selling price of the Car. Any payments to bring that number down is a Capital Cost Reduction. This guy is trying to rob you. Go to a different dealer or get a new salesman.
    Just for kicks, ask for a deal using S-Plan WITHOUT your trade.
  • buffalo78buffalo78 Member Posts: 36
    Not sure where you are located, but there is a galaxy gray touring awd with the bose/moonroof, black leather at John Holtz Mazda in Rochester, NY.
  • greenteamgreenteam Member Posts: 27
    hi can anyone tell me the following or where I can get it??

    Residual values for the cx9, multiple models.

    Money factor for tier one credit..

    I am in so cal area and am looking to lease soon..

    thanks.
  • jvostjvost Member Posts: 37
    Hi Greenteam - this is the info I received from a dealer in Denver, I think it's accurate, but I'm advised that Mazda changes their deals frequently - sometimes more than once a month.

    CX-9 (15k/YR) 24 mos. 36 mos.

    FWD Sport - 63% 54%
    FWD Touring - 63% 54%
    FWD GT - 61% 52%
    AWD Sport - 65% 56%
    AWD Touring - 66% 57%
    AWD GT - 64% 55%

    Add for 12K 2% 2%
    Add for 10.5K 3% 3%

    Tier 1 Credit .00075 .00138

    Good luck.
  • southpaw75southpaw75 Member Posts: 33
    These numbers look better than last month by my count. MF is a little lower and residuals went up about 1%. My dealer is not being honest with me and he's fixing to know about this.
  • brickfrenzybrickfrenzy Member Posts: 38
    CX-9 (15k/YR) 24 mos. 36 mos.

    FWD Sport - 63% 54%
    FWD Touring - 63% 54%
    FWD GT - 61% 52%
    AWD Sport - 65% 56%
    AWD Touring - 66% 57%
    AWD GT - 64% 55%

    Add for 12K 2% 2%
    Add for 10.5K 3% 3%

    Tier 1 Credit .00075 .00138

    So these are the latest and greatest rates per the April/May incentives listed on the Mazda USA website? I don't suppose anybody in Ohio can corroborate these numbers? I don't like how the interest rate nearly doubles when going from 24 Mo. to 36 Mo. Is that common?
  • greenteamgreenteam Member Posts: 27
    thanks jvost.. i really appreciate it...
  • brickfrenzybrickfrenzy Member Posts: 38
    I answered my own question. Fred Vincent Mazda in northern Ohio corroborated those rates to me, so it looks like they are national rates right now.
  • steve138steve138 Member Posts: 9
    I'm looking for a CX-9 Touring. The place I'm finding a problem is with all the inceptions. Including 1st month, security deposit, bank and other fees,it comes to over $2400. They are selling me the car with a MSRP of $34,445 for $32150. For 36 months/15K with 6.5% tax the payment was over $600/month with $500 down.
    Are my expectations unrealistic? I'd like to be closer to $500 than $600!
  • creampuffcreampuff Member Posts: 2
    Hello. Thanks for responding. I am in the Philadelphia area. As a matter of fact, I still haven't heard a word from dealer. I find this a bit strange unless they are very hard to come by?
  • michelle312michelle312 Member Posts: 4
    Thanks again for the help. Did lots of homework and went to another dealer for an AWD Sport with moonroof/Bose and a few more options. Here's what he offered and I'm accepting:

    MSRP: 33355
    SPlan price: 31084
    Trade: 9400 - 2900 = 6500
    Monthly Pmt: 279

    Almost $100 less per month than the other dealer was offering - for a vehicle with an MSRP $2,000 higher!
    I still had to let him know from the getgo and then keep reminding him that I had done my homework. I was getting the 'well, I don't know what calculator you're using . . .' speech and we actually went on the web together and used the lease calculator to plug in the figures. Even so, he started off at $335/mo - still $40 less than the other guy before I even started trying so I feel better giving him my business anyway! Look like a decent deal to you?
  • jnorris765jnorris765 Member Posts: 6
    I'm looking to lease 2 vehicles at the same time.

    One CX-9 and the other a base mazda6 sport value.

    The 6 needs 15k miles, the 9 12k miles.

    These are the initial #'s I have, I'm looking to see how low I can go. Any advice would be greatly appreciated.

    2007 CX-9 Grand Touring AWD
    $34,470
    263-hp 3.5L DOHC 24-valve V6-cylinder
    Standard
    6-Spd Auto
    Standard
    Gt nav package
    Towing
    Moonroof/bose
    Cargomat
    Cargonet
    Moon deflector
    Res
    Sirrius
    Splash guards/wheel locks

    39767

    Mazda 6
    2007 MAZDA6 i Sports Sedan, Sport Value Edition
    $20,225
    156-hp 2.3L DOHC 16-valve inline 4-cylinder
    Standard
    5-Spd Manual
    Standard

    I'd prefer to do no money down, but I have some wiggle room with this -- i need the payments to be in the $600 combined range.

    thanks
  • brickfrenzybrickfrenzy Member Posts: 38
    I'm looking for a CX-9 Touring. The place I'm finding a problem is with all the inceptions. Including 1st month, security deposit, bank and other fees,it comes to over $2400. They are selling me the car with a MSRP of $34,445 for $32150. For 36 months/15K with 6.5% tax the payment was over $600/month with $500 down.
    Are my expectations unrealistic? I'd like to be closer to $500 than $600!

    I plugged those numbers into the calculation spreadsheet I developed to help me make my decision, and I don't think you're getting a very good Money Factor there. At the best MF, of .00138 @ 36 months, you should be under $500. What are the MF and residual that the dealer is quoting you?
  • brickfrenzybrickfrenzy Member Posts: 38
    I'd prefer to do no money down, but I have some wiggle room with this -- i need the payments to be in the $600 combined range.

    At an MSRP of almost $40k, the invoice of the CX-9 is going to be around $36k. With nothing down, you're looking at $600 for the CX-9 alone. There's no way you're going to get both cars for that much.
  • steve138steve138 Member Posts: 9
    Brickfrenzy...I'm being quoted a MF of .00138 and a 52% residual. I think where I'm getting burned is in the inceptions. Anybody?
  • audia8qaudia8q Member Posts: 3,138
    At an MSRP of almost $40k, the invoice of the CX-9 is going to be around $36k

    fyi...I'm looking at a invoice for a $40,235 msrp CX-9 and invoice is $37,264.
  • steevosteevo Member Posts: 389
    Looks decent to me. I think you did good, especially compared to the last dealer! The only way to REALLY know would have been if you got a price that didn't include the trade..THen add the trade to finalize the deal and apply the equity to the capital cost and the upfront fees,tax whatever.. But I wouldn't sweat it since you sound happy with the final deal and it seems to be pretty fair.
    Enjoy the new ride!
  • momsbmwmomsbmw Member Posts: 7
    I felt comfortable negotiating with the dealer today, based on the MF and residual information mentioned here. Tomorrow, I sign the paperwork for a GT AWD with GT assistance package, rear seat entertainment/bose, and remote start. MSRP is 39880, which I got down to 37875. Monthly payment for 36 mo/15K miles will be $525.
    I just need them to throw in the all weather floor mats and I should be ready to go!
    Thanks for the information and good luck to everyone!
  • mwiatrakmwiatrak Member Posts: 1
    How did it end up working out with Country Mazda? We are looking to lease the CX-9 in the next couple of weeks, but are just now researching prices and dealers. Any help would be great!
  • maradagmaradag Member Posts: 85
    Hey Car_Man,

    You mentioned an unexpected change in Mazda's lease program. Can you let us know what the lease rates (15k per year/ 24 or 36 months) are for the AWD Sport or Touring model? (I'm assuming the residual stays the same).

    Thanks!
  • buffalo78buffalo78 Member Posts: 36
    well i finally found the touring awd in crystal white that i've been looking for.
    went to the dealer and this is what he gave me for #'s. personally i feel i'm getting ripped off. i walked out and told him he was wasting my time. just looking for a little input as to what you guys think it should be

    msrp: 35,140
    res: 54%
    mf: .00157
    8.75 sales tax
    36/mos. 15k
    here's where things get interesting

    trade: 16,000
    i owe 8,539.30
    diff of 7,460.70
    take 3,000 and use as a down payment.
    4400 cash back.
    they are telling me 539/mos for 36 mos. 15k. am i missing something. then the guy tells me that it would be 359/mos with 0 cash back.
    and of course throughout the whole conversation he kept avoiding the question of what the selling price of the vehicle would be.
    needless to say i'm a little frustrated :mad:
    thanks for the help.
  • brickfrenzybrickfrenzy Member Posts: 38
    they are telling me 539/mos for 36 mos. 15k. am i missing something. then the guy tells me that it would be 359/mos with 0 cash back.

    From what I was figuring when doing lease calculations, a change in $500 down changes the payment by about $20/month. So the shift from 539 to 359 is spot on with adding the 4400 down.

    But that's all at MSRP. Forget about payments and negotiate the price of the car first. You can do better.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey steevo. Here's the information that you're looking for. 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
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new truck, wfk21. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride :) !

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome creampuff. 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.

    You never mentioned the selling price or MSRP of the CX-9 that you are interested in leasing. These are important numbers 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 this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be glad to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi remmib. If your leased vehicle is totaled in the middle of your lease, your insurance company will pay the bank that you are leasing it through what it believes its current market value is. If this amount is less than you still owe on your leased vehicle, gap insurance will cover the difference between what you owe and what the insurance company is willing to pay. Gap insurance does not reimburse lessees for any down payment that they made on their lease.

    Car_man
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