Lease Inquiry for 2015 MAZDA 3

bees_knees · July 2015

Hello, I'm obviously new to the forum and new to leasing as well. I have never bought/leased a car before and as a matter of fact I have never had to deal with a dealership and salesmen in my life.

I am currently looking to lease a new car and I have fallen MADLY IN LOVE with Mazda. I am looking to get the 2015 Mazda 3 iTouring with the moon-roof package or just going straight to the i Grand Touring. I also really love the 2016 Mazda 6 Touring and would have liked to lease it, but I doubt I could afford it.

I am looking for extremely low payments no higher than $250, but prefer high 100's to low 200's. I am willing to put down 2-3k to help keep the monthly in a low range. I want to lease for 36 months and my credit score is within the 700-750 range, so I should qualify for a competitive rate. (I have heard that new lessees do NOT get the best rates due to the lack of lease experience. Is this true? )

I am trying to do as much research and gain as much leasing knowledge as possible in order to not be taken advantage of and to make sure I don't get in over my head as a first-timer. As I said before, I have never been through this experience before and want to be prepared. I have already spent many late nights researching and learning new things that I have never even heard of before such as: residuals, money factors, leasing calculations, net cap cost, depreciation fee, MSRP/invoice, capitalized deductions, etc.

I have to admit that it is a little overwhelming and stressful, but I would rather put in the hard work now instead of being swindled into a bad/sub-par contract later.

Okay. Time for my question! I have noticed that you guys help each other out a lot on here when it comes to finding out the things that are not readily available. So I was hoping someone can give me a little bit of pointers, advice, and information to help me lease a new Mazda. I wanted to specifically know things like the residuals, money factor, and anything else that will help me make my own calculations, walk in with confidence, and walk out with the best deal possible for my situation.

I am a single female in my mid 20's who can afford a down payment of 2-3k, up to 250 monthly (although I would rather keep it at $200.00 and below in order to not overextend myself), and will need the lease for 36 months (I most likely will turn it in at the end of the lease). I'm looking to lease within the next month or two.

I appreciate any responses! I would also like to hear any similar experiences that any of you have had with Mazda!
Thank you so much!

kyfdx · July 2015

bees_knees said:
I figured it would help... Kinda of going out on a limb that I wont total/severely damage the car, but of course I can't predict the future. I am DEFINITELY thinking about NOT putting a down payment and just lowering my expectations as far as trim and upgrade packages. I am mainly concerned with low monthly payments, but would like a nice trim such as the iTouring (which I was told would require a down payment for my monthly budget range). I understand that I may have to lower down to the iSport, base, or get rid of the upgrades for a lower payments. It depends on how I calculate my finances and if I feel as though the car is worth losing a down payment if something happens. Trying to weigh my options and choose with my brain, instead of my heart (which is saying "Gimme, gimme, gimme!). I truly want a new Mazda so badly, but I may just chuck this whole brand new car idea and just buy a used cheap car until I graduate college and have a more stable career. =/

Thank you for your advice.

Does anyone know the money factor rates and residuals? I was trying to search but can't find any. I am trying to calculate on my own and would like number that are more accurate than my guesses.

i Touring Sedan automatic: .00001 MF and 57% residual for 36mo, 15K/yr.. $800 lease cash.
i GT sedan automatic: .00001 MF and 53% residual.

Michaell · July 2015

bees_knees said:
Hello, I'm obviously new to the forum and new to leasing as well. I have never bought/leased a car before and as a matter of fact I have never had to deal with a dealership and salesmen in my life.

I am currently looking to lease a new car and I have fallen MADLY IN LOVE with Mazda. I am looking to get the 2015 Mazda 3 iTouring with the moon-roof package or just going straight to the i Grand Touring. I also really love the 2016 Mazda 6 Touring and would have liked to lease it, but I doubt I could afford it.

I am looking for extremely low payments no higher than $250, but prefer high 100's to low 200's. I am willing to put down 2-3k to help keep the monthly in a low range. I want to lease for 36 months and my credit score is within the 700-750 range, so I should qualify for a competitive rate. (I have heard that new lessees do NOT get the best rates due to the lack of lease experience. Is this true? )

I am trying to do as much research and gain as much leasing knowledge as possible in order to not be taken advantage of and to make sure I don't get in over my head as a first-timer. As I said before, I have never been through this experience before and want to be prepared. I have already spent many late nights researching and learning new things that I have never even heard of before such as: residuals, money factors, leasing calculations, net cap cost, depreciation fee, MSRP/invoice, capitalized deductions, etc.

I have to admit that it is a little overwhelming and stressful, but I would rather put in the hard work now instead of being swindled into a bad/sub-par contract later.

Okay. Time for my question! I have noticed that you guys help each other out a lot on here when it comes to finding out the things that are not readily available. So I was hoping someone can give me a little bit of pointers, advice, and information to help me lease a new Mazda. I wanted to specifically know things like the residuals, money factor, and anything else that will help me make my own calculations, walk in with confidence, and walk out with the best deal possible for my situation.

I am a single female in my mid 20's who can afford a down payment of 2-3k, up to 250 monthly (although I would rather keep it at $200.00 and below in order to not overextend myself), and will need the lease for 36 months (I most likely will turn it in at the end of the lease). I'm looking to lease within the next month or two.

I appreciate any responses! I would also like to hear any similar experiences that any of you have had with Mazda!
Thank you so much!

For the Mazda 3, are you looking at the sedan or hatchback? And, how many miles per year do you expect to drive?

Negotiate the best price you can - use the pricing tools here at Edmunds to help (make / model / year pulldowns at the top of the page to get started).

We do not recommend making a down payment on a lease - if the car is stolen or totaled, you lose that money.

bees_knees · July 2015

Thank you! I am interested in the sedan! The only reason I was going to put down money is to lower my monthly payments. I was also going to get the gap insurance to help if I ever get into an accident.

Michaell · July 2015

bees_knees said:
Thank you! I am interested in the sedan! The only reason I was going to put down money is to lower my monthly payments. I was also going to get the gap insurance to help if I ever get into an accident.

GAP won't recover the down payment

bees_knees · July 2015

I figured it would help... Kinda of going out on a limb that I wont total/severely damage the car, but of course I can't predict the future. I am DEFINITELY thinking about NOT putting a down payment and just lowering my expectations as far as trim and upgrade packages. I am mainly concerned with low monthly payments, but would like a nice trim such as the iTouring (which I was told would require a down payment for my monthly budget range). I understand that I may have to lower down to the iSport, base, or get rid of the upgrades for a lower payments. It depends on how I calculate my finances and if I feel as though the car is worth losing a down payment if something happens. Trying to weigh my options and choose with my brain, instead of my heart (which is saying "Gimme, gimme, gimme!). I truly want a new Mazda so badly, but I may just chuck this whole brand new car idea and just buy a used cheap car until I graduate college and have a more stable career. =/

Thank you for your advice.

Does anyone know the money factor rates and residuals? I was trying to search but can't find any. I am trying to calculate on my own and would like number that are more accurate than my guesses.

bees_knees · July 2015

Thank you guys so much! You have no idea how much it means to me! This is a big deal for me and I have been going back and forth on what to do. I've realize now how much it will really cost to have this car and I can't afford it. Or at least not this trim. Thanks for the down payment advice too. I think I will hold onto it or use to just buy cheap used car so that I don't lose it on a lease. One day though I'll get my dream Mazda!

kyfdx · July 2015

bees_knees said:

Thank you guys so much! You have no idea how much it means to me! This is a big deal for me and I have been going back and forth on what to do. I've realize now how much it will really cost to have this car and I can't afford it. Or at least not this trim. Thanks for the down payment advice too. I think I will hold onto it or use to just buy cheap used car so that I don't lose it on a lease. One day though I'll get my dream Mazda!

It's always good to have a budget and stick to it.

bees_knees · July 2015

kyfdx said:

bees_knees said:

Thank you guys so much! You have no idea how much it means to me! This is a big deal for me and I have been going back and forth on what to do. I've realize now how much it will really cost to have this car and I can't afford it. Or at least not this trim. Thanks for the down payment advice too. I think I will hold onto it or use to just buy cheap used car so that I don't lose it on a lease. One day though I'll get my dream Mazda!

It's always good to have a budget and stick to it.

Yes! I've been doing research to finance the base model now. I am taking time out to learn how to budget and reading guides on purchasing from dealerships. I have already chucked the upgrades and packages to stay within my budget. I find myself trying to compare trims and trying to convince myself to budge on my budget.
For example, I would compare the $25-$30 monthly increase from the sport to the iTouring and try to convince myself it's worth it. But then later, I compare the iTouring without upgrades to the one with the tech package and convince myself its worth the extra $20 too! Next thing I know I'm $50-$60 over my budget by trying to compromise to a better trim and package. I need to stop being so stubborn and stick to my budget and deal with a basic model. Mazda is still amazing at the base model and worth buying either way!

Michaell · July 2015

bees_knees said:

kyfdx said:

bees_knees said:

Thank you guys so much! You have no idea how much it means to me! This is a big deal for me and I have been going back and forth on what to do. I've realize now how much it will really cost to have this car and I can't afford it. Or at least not this trim. Thanks for the down payment advice too. I think I will hold onto it or use to just buy cheap used car so that I don't lose it on a lease. One day though I'll get my dream Mazda!
It's always good to have a budget and stick to it.

Yes! I've been doing research to finance the base model now. I am taking time out to learn how to budget and reading guides on purchasing from dealerships. I have already chucked the upgrades and packages to stay within my budget. I find myself trying to compare trims and trying to convince myself to budge on my budget.
For example, I would compare the $25-$30 monthly increase from the sport to the iTouring and try to convince myself it's worth it. But then later, I compare the iTouring without upgrades to the one with the tech package and convince myself its worth the extra $20 too! Next thing I know I'm $50-$60 over my budget by trying to compromise to a better trim and package. I need to stop being so stubborn and stick to my budget and deal with a basic model. Mazda is still amazing at the base model and worth buying either way!

A slightly different take on it ... $25-30/mo is what, one Starbucks drink per week and one or two on the weekend. How much time will you spend in your car? If spending the extra money per month to get the features you want will make every time you hop behind the wheel more enjoyable, then skip the drinks (or whatever your vice is) and do it.

Otherwise, you'll hate every minute you drive the car, thinking "I wish I had done it differently". Three years is a long time to regret not spending a little bit of extra money to get exactly what you want in your car.

bees_knees · July 2015

Michaell said:

A slightly different take on it ... $25-30/mo is what, one Starbucks drink per week and one or two on the weekend. How much time will you spend in your car? If spending the extra money per month to get the features you want will make every time you hop behind the wheel more enjoyable, then skip the drinks (or whatever your vice is) and do it.

Otherwise, you'll hate every minute you drive the car, thinking "I wish I had done it differently". Three years is a long time to regret not spending a little bit of extra money to get exactly what you want in your car.

Exactly!! Thank you! I am using that analogy to go from the Sport to the iTouring!! But my hesitation is because I am already on a crunch since I am taking on a much larger school load than I expected. This has caused me to severely cut my work hours and therefore my income. So, I can't compromise too much as I am already on a restricted financial budget. I want to be able to save any disposable income (including the money spent on Starbucks drinks!) that I get in order to compensate the cut from my work related income. I could go up to $250, but it would be wiser to stay in a range no higher than $200. So I am willing to chuck the upgrades and increase my down payment in order to get the Touring (if I get a good enough deal off the MSRP, otherwise I will stick with the Sport) and stay within a reasonable monthly range... I am a college student and I don't need the fancy thrills and spills right now (even though I am drooling over the awesome upgrades like the iELOOP, iActivsence, heads-up display, etc). There is always time down the line to upgrade after graduation and after I secure a great paying career.

Thank you!!!

aloizi98 · August 2015

MF and residual for 2015 s Grand Touring sedan with tech package in NY state?

Michaell · August 2015

aloizi98 said:
MF and residual for 2015 s Grand Touring sedan with tech package in NY state?

Lease term and miles per year?

aloizi98 · August 2015

36 months and 10 k.
24 months and 10 k

Michaell · August 2015

aloizi98 said:
MF and residual for 2015 s Grand Touring sedan with tech package in NY state?

aloizi98 said:
36 months and 10 k.
24 months and 10 k

24/10 - 62% and .00020
36/10 - 55% and .00001

Assuming automatic - subtract 1% for manual transmission.

aloizi98 · August 2015

THANKS!!!!!!!!!

Lease Inquiry for 2015 MAZDA 3

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