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2015 Mazda6 Lease Questions

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  • tr1plsc00ptr1plsc00p Member Posts: 23

    I saw on their website that they are still offering the sign and drive deal, so it still must be a low MF and depreciation.

  • MichaellMichaell Moderator Posts: 240,145
    edited August 2014

    @tr1plsc00p said:
    I saw on their website that they are still offering the sign and drive deal, so it still must be a low MF and depreciation.

    That wouldn't surprise me; everybody is trying to clear out the 2014's and get a jump start on selling the 2015's.

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  • kyfdxkyfdx Moderator Posts: 235,200

    @tr1plsc00p said:
    Do you have MF and depreciation for August for a 2015 Mazda6 Touring with moonroof option, 36 months, 15k miles? Thanks

    What state? We have partial numbers..

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  • tr1plsc00ptr1plsc00p Member Posts: 23
    California, Ventura County
  • kyfdxkyfdx Moderator Posts: 235,200

    Sorry... don't have the numbers for the region that includes California.. yet.

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  • tr1plsc00ptr1plsc00p Member Posts: 23
    Any numbers yet? When you have them, can you give me numbers for both i Touring and grand touring for CA?
  • MichaellMichaell Moderator Posts: 240,145

    @tr1plsc00p said:
    Any numbers yet? When you have them, can you give me numbers for both i Touring and grand touring for CA?

    Still no numbers for the group of states that includes CA.

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  • kyfdxkyfdx Moderator Posts: 235,200

    @tr1plsc00p said:
    Do you have MF and depreciation for August for a 2015 Mazda6 Touring with moonroof option, 36 months, 15k miles? California, Thanks

    .00001 MF and 57% residual for automatic. 55% for manual transmission.

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  • kyfdxkyfdx Moderator Posts: 235,200

    @tr1plsc00p said:
    Any numbers yet? When you have them, can you give me numbers for both i Touring and grand touring for CA?

    Grand Touring residuals are 55% for 36mo, 15K/yr

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  • tr1plsc00ptr1plsc00p Member Posts: 23

    So, I got a quote from the dealer. Seems they are trying to gouge me with the rental fee. They would not let me see the disclosure, even though I said I would not commit to anything until I saw the numbers. They quoted $333 a month for a 2015 iTouring, $24815 after rebates, residual of 57% and they were going to give me $2700 for my trade. MSRP $27315, sales tax is 7.5% and additional title & fees were around $250.

  • tr1plsc00ptr1plsc00p Member Posts: 23
    edited August 2014

    Sorry, left out that it was 36 month lease with15k per year. They wouldn't show me my credit score either and told me the rental fee was not negotiable.

  • MichaellMichaell Moderator Posts: 240,145

    @tr1plsc00p said:
    So, I got a quote from the dealer. Seems they are trying to gouge me with the rental fee. They would not let me see the disclosure, even though I said I would not commit to anything until I saw the numbers. They quoted $333 a month for a 2015 iTouring, $24815 after rebates, residual of 57% and they were going to give me $2700 for my trade. MSRP $27315, sales tax is 7.5% and additional title & fees were around $250.

    I would agree. Base MF is .00029 for 36 months; when I plug in all your numbers above, I get a pre-tax payment of $268.53 and a payment after tax of $288.67.

    Is the $2700 for your trade the actual trade value? Or the trade equity? How is that being factored into the deal?

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  • tr1plsc00ptr1plsc00p Member Posts: 23

    Sorry, it's $1700, not $2700. $4000 but i owed $2300. They only gave me the $500 graduate rebate although I told them I probably qualified for the $750 trade-in rebate (my trade is a Kia Optima).

  • MichaellMichaell Moderator Posts: 240,145

    @tr1plsc00p said:
    Sorry, it's $1700, not $2700. $4000 but i owed $2300. They only gave me the $500 graduate rebate although I told them I probably qualified for the $750 trade-in rebate (my trade is a Kia Optima).

    OK, thanks for the clarification .... how is that $1700 trade equity being used? Down payment? Up front taxes and fees?

    You should find the details for the conquest rebate on-line .. you should qualify for the $750.

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  • tr1plsc00ptr1plsc00p Member Posts: 23

    i believe it was used as a down payment. They didn't say it covered taxes and fees because I asked what the taxes and fees were and he said 10% of the MSRP! I quickly corrected him and told him that it would be calculated based on the depreciation fee. I asked because I proposed paying the tax upfront to lower the monthly pmnt. I headed for the exit fast!

  • tr1plsc00ptr1plsc00p Member Posts: 23

    Do dealers usually show the disclosure or do you have to make a commitment? They lost the deal because of the lack of transparency and I needed my husband's approval. They could have just let me leave unharmed, but kept pushing me to make a commitment and now I have a bad taste in my mouth.

  • MichaellMichaell Moderator Posts: 240,145

    @tr1plsc00p said:
    Do dealers usually show the disclosure or do you have to make a commitment? They lost the deal because of the lack of transparency and I needed my husband's approval. They could have just let me leave unharmed, but kept pushing me to make a commitment and now I have a bad taste in my mouth.

    It depends on the dealer .. some will push harder than others.

    Lots of Mazda dealers out there .. now that you have a better understanding of how the numbers work, you'll be in a better position the next time you sit down at a desk.

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  • tr1plsc00ptr1plsc00p Member Posts: 23

    Yeah, and I'll bring my husband! He is not such a pushover like me! Thanks for your help!

  • mac_attackmac_attack Member Posts: 87
    edited August 2014

    Looking at a 2015 Mazda 6 GT (fully loaded) - around 33K.
    In Charlotte, NC.
    36 month lease, 12K miles/yr
    What should I expect for:

    MF =
    Residual =
    Cap Price =
    Other discounts =

    Thank You!!

  • MichaellMichaell Moderator Posts: 240,145

    @mac_attack said:
    Looking at a 2015 Mazda 6 GT (fully loaded) - around 33K.
    In Charlotte, NC.
    36 month lease, 12K miles/yr
    What should I expect for:

    MF = .00029
    Residual = 56%
    Cap Price = use the shopping tools at the top of the page to determine the target price
    Other discounts = no lease cash

    Thank You!!

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  • tomh10tomh10 Member Posts: 4
    edited August 2014

    Hey guys, this is my first post on edmunds. I got a 2015 Mazda 6 iTouring with M/T yesterday. At first, I got quoted $280 with $500 down, and $600 fees. Even though I have a credit score of 756, I qualified for a Tier 3, so my rate went up to $310 per month. Dealer said it's because I only own 1 credit card and never had a lease before. I went ahead with the transaction. But I want to make sure that the numbers add up, they said at the dealership the MF was 0.00010 and Residual is 57%. The agreed MSRP was $23,865.
    Edit: I live in NY but got the car from NJ.

  • MichaellMichaell Moderator Posts: 240,145

    @tomh10 said:
    Hey guys, this is my first post on edmunds. I got a 2015 Mazda 6 iTouring with M/T yesterday. At first, I got quoted $280 with $500 down, and $600 fees. Even though I have a credit score of 756, I qualified for a Tier 3, so my rate went up to $310 per month. Dealer said it's because I only own 1 credit card and never had a lease before. I went ahead with the transaction. But I want to make sure that the numbers add up, they said at the dealership the MF was 0.00010 and Residual is 57%. The agreed MSRP was $23,865.
    Edit: I live in NY but got the car from NJ.

    What was the selling price?

    And, dealers can use a special credit scoring system specifically for automobile loans and leases.

    For what it's worth, for Mazda, tiers 1-3 all qualify for the best MF of .00001; the MF for tier 4 jumps to .00031. It's possible the dealer marked up the MF on you for a bit of extra profit.

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  • tomh10tomh10 Member Posts: 4

    @Michaell said:

    MSRP was $27524, the sale price $23,865, they said the car has a decor package, wheel protection etc, paintless dent repair etc.

  • MichaellMichaell Moderator Posts: 240,145

    @tomh10 said:
    MSRP was $27524, the sale price $23,865, they said the car has a decor package, wheel protection etc, paintless dent repair etc.

    When I plug in your MSRP and selling price with the residual of 57% and MF of .0001, I get a pre-tax payment of $231.08 for 36 months.

    Did you give them any cash up front for fees and taxes, or were they rolled into the cap cost? NY and NJ calculate all the sales tax for the lease term up front.

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  • tomh10tomh10 Member Posts: 4
    edited August 2014

    I did pay $500 down, 1st month payment $310 and a dmv fee of $300.

  • MichaellMichaell Moderator Posts: 240,145

    @tomh10 said:
    I did pay $500 down, 1st month payment $310 and a dmv fee of $300.

    OK, so the rest of the tax liability was added into the cap cost; that probably accounts for the higher payment you have.

    Enjoy the new car! I find the 6 to be one of the better looking mid-size sedans on the road.

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  • tomh10tomh10 Member Posts: 4

    Well, I'm not 100% sure how it all works. They gave me
    a sheet of paper with so many numbers on it :) little confused. But hey, the car is a blast, and like you said looks good! Thanks!

  • MichaellMichaell Moderator Posts: 240,145

    @tomh10 said:
    Well, I'm not 100% sure how it all works. They gave me
    a sheet of paper with so many numbers on it :) little confused. But hey, the car is a blast, and like you said looks good! Thanks!

    The joy of owning and driving a car you like will be with you long after the details of the deal have faded from your memory.

    Enjoy your new car - and when you're ready, click on the link in my signature block to write up a review.

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  • hornhuskerhornhusker Member Posts: 2

    Looking for the MF and residual for a 2015 Mazda 6 - both the grand touring and touring. Terms would be 36 months with 12K a year in Texas. Thanks!

  • kyfdxkyfdx Moderator Posts: 235,200

    @hornhusker said:
    Looking for the MF and residual for a 2015 Mazda 6 - both the grand touring and touring. Terms would be 36 months with 12K a year in Texas. Thanks!

    .00029 MF and 56%/58% residual for GT/T.

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  • rossmrrossmr Member Posts: 13

    Bought a 6 GT with tech package, wheel locks, cargo net, bumper guard, all weather floor mats MSRP $33120 paid $30549 + 299 doc fee = $30848. Ended up paying cash but dealer was pushing a lease that sounded good in the beginning but not so much when I ran the numbers. Residual 57%, money factor .00029 MF, 36 months 10K per year. I thought the MF * 2400 = APR, in this case .696. When I saw the payment it seemed way too high - $342.40.

    Sales price $30549

    Trade in 5000

    Rebate 375

    Advance Pmt 342

    Sales Tax 0 - Delaware

    Up front charge 392

    Total Cap Reduction 4635

    Due on Delivery 0

    35 Payments 342

    I calculated an IRR on the cash flows and it yielded around 8%.
    When I use an online lease calculator if I use the .00029 MF multiplied by 12 (months in a year), the payment was within a couple of bucks of $342. .00029x12x2400 =8.4% - close to my IRR calculation.

    Two questions -

    1. Is the money factor quoted on a monthly basis? Some appear to be based on an annual basis, some on a monthly basis.

    2. 57% Residual sounds good. 8% APR is terrible. My FICO is 810, would theyhave lowered the money factor if I negotiated?

    I am not a genius, but not financially illiterate and in my opinion leasing is pretty complicated to tell if you are getting a good deal.

  • MichaellMichaell Moderator Posts: 240,145

    @rossmr said:
    Bought a 6 GT with tech package, wheel locks, cargo net, bumper guard, all weather floor mats MSRP $33120 paid $30549 + 299 doc fee = $30848. Ended up paying cash but dealer was pushing a lease that sounded good in the beginning but not so much when I ran the numbers. Residual 57%, money factor .00029 MF, 36 months 10K per year. I thought the MF * 2400 = APR, in this case .696. When I saw the payment it seemed way too high - $342.40.


    Sales price $30549

    Trade in 5000

    Rebate 375

    Advance Pmt 342

    Sales Tax 0 - Delaware

    Up front charge 392

    Total Cap Reduction 4635

    Due on Delivery 0

    35 Payments 342

    I calculated an IRR on the cash flows and it yielded around 8%.
    When I use an online lease calculator if I use the .00029 MF multiplied by 12 (months in a year), the payment was within a couple of bucks of $342. .00029x12x2400 =8.4% - close to my IRR calculation.

    Two questions -

    1. Is the money factor quoted on a monthly basis? Some appear to be based on an annual basis, some on a monthly basis.

    The MF is used to calculate a monthly rent charge:

    (residual value + cap cost) * MF

    MF * 2400 = interest rate

    1. 57% Residual sounds good. 8% APR is terrible. My FICO is 810, would theyhave lowered the money factor if I negotiated?

    The "base" MF of .00029 can be increased by the dealer for extra profit, but cannot be reduced. It is also increased depending on credit score.

    I am not a genius, but not financially illiterate and in my opinion leasing is pretty complicated to tell if you are getting a good deal.

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  • trancelatortrancelator Member Posts: 9

    Hi, folks. First time posting on Edmunds. I'm planning to go to the dealership this weekend and wanted to know if MF and residual are available for the Sport and Touring in FL. Terms would be 36 months with 15K a year. Any help would be greatly appreciated. Thanks!

  • MichaellMichaell Moderator Posts: 240,145

    @trancelator said:
    Hi, folks. First time posting on Edmunds. I'm planning to go to the dealership this weekend and wanted to know if MF and residual are available for the Sport and Touring in FL. Terms would be 36 months with 15K a year. Any help would be greatly appreciated. Thanks!

    Sport - 58%

    Touring - 57% (AT) or 55% (MT)

    .00001 MF for both.

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  • trancelatortrancelator Member Posts: 9

    Thanks for your help!

  • mtjake97mtjake97 Member Posts: 6

    Hi. Wondering what the MF and residual would be in Colorado for the GT. Terms would be 36 months and either 12k or 15k per year. Thanks!

  • kyfdxkyfdx Moderator Posts: 235,200

    @mtjake97 said:
    Hi. Wondering what the MF and residual would be in Colorado for the GT. Terms would be 36 months and either 12k or 15k per year. Thanks!

    .00001 MF and 56%/55% residual

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  • autotime3autotime3 Member Posts: 5

    First time looking into a lease. Looking for the MF and residual for a 2015 Mazda 6 - both the grand touring and touring. Terms would be 36/15k or 36/12k in Georgia.

    Also, if you can point me in the right direction on learning to negotiate lease terms, that would be great!

    Thanks!

  • kyfdxkyfdx Moderator Posts: 235,200

    @autotime3 said:
    First time looking into a lease. Looking for the MF and residual for a 2015 Mazda 6 - both the grand touring and touring. Terms would be 36/15k or 36/12k in Georgia.

    Also, if you can point me in the right direction on learning to negotiate lease terms, that would be great!

    Thanks!

    .00029 MF and 54% residual for the Touring, 53% for the GT. Add 1% for 12K/yr. There is $800 dealer lease cash from Mazda on this model.

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  • autotime3autotime3 Member Posts: 5

    Thank you for the information kyfdx as I've learned quite a bit reading through this thread.

    Question - If a nearby state like South Carolina and/or Alabama has a lower MF does that mean that we can go there to take advantage of that lower rate? I guess the residual value would play into that as well?

  • MichaellMichaell Moderator Posts: 240,145

    @autotime3 said:
    Thank you for the information kyfdx as I've learned quite a bit reading through this thread.

    Question - If a nearby state like South Carolina and/or Alabama has a lower MF does that mean that we can go there to take advantage of that lower rate? I guess the residual value would play into that as well?

    I don't think it works that way ... I suspect the MF is computed on your home address, not where you sign the deal.

    Or, Mazda Finance will find out and have the deal re-written.

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  • ChrismaxChrismax Member Posts: 87
    Could I get the residual, mf and any lease cash for a 2015 Grand Touring in Illinois? Thanks
  • ChrismaxChrismax Member Posts: 87
    sorry, forgot the terms-36/12 and 36/15
  • MichaellMichaell Moderator Posts: 240,145
    ccorcoran said:

    Could I get the residual, mf and any lease cash for a 2015 Grand Touring in Illinois? Thanks

    ccorcoran said:

    sorry, forgot the terms-36/12 and 36/15

    36/15 - 53% and .00029. Add 1% for 12K. $800 lease cash.

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  • icherub1icherub1 Member Posts: 39
    edited September 2014
    Do you have present MF and residuals for Massachusetts for a 2015 i Touring auto 36/12 and 36/15?
  • MichaellMichaell Moderator Posts: 240,145
    icherub1 said:

    Do you have present MF and residuals for Massachusetts for a 2015 i Touring auto 36/12 and 36/15?

    36/15 - 54% and .00001

    Add 1% for 12K.

    $800 lease cash.

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  • arlvahooarlvahoo Member Posts: 23
    Does Mazda calculate things differently by state? If so, how about the numbers for 36mo/12k on a 2015 Touring and Grand Touring?
    Thanks.
  • MichaellMichaell Moderator Posts: 240,145
    arlvahoo said:

    Does Mazda calculate things differently by state? If so, how about the numbers for 36mo/12k on a 2015 Touring and Grand Touring?
    Thanks.

    Yes - Mazda has two regions that have different numbers. What state is this for?

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  • ali42ali42 Member Posts: 3
    Hello - I'm looking for the MF and residual in OH for the Touring, 36 mo / 12k year and 36 mo / 10k / year. Thanks!
  • kyfdxkyfdx Moderator Posts: 235,200
    ali42 said:

    Hello - I'm looking for the MF and residual in OH for the Touring, 36 mo / 12k year and 36 mo / 10k / year. Thanks!

    .00001 MF and 55%/56% residual. $800 lease support. (deduct 4% for manual transmission)

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