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.00001 MF and 52% residual. $450 lease support from Mazda
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MSRP=$30,325 (no tech package, added roof rails)
Asking=$28,706
No $ down, no Mazda loyalty $ b/c I'm turning in a Nissan Rogue (end of lease)
Unfortunately, we don't have the Illinois money factor for this model. But, if I had to guess, it's pretty low at around .00030.
Residual is 54%. Also, $450 lease support from Mazda on this model.
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.00114 is the tier 5 MF for 48 months. Has the dealer provided you with the score they are using to determine what tier you are in?
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I live in the LA area of CA. I have this offer on the table. Should I keep pushing or are we in the ballpark? Thanks all.
Year:2015
Make: Mazda
Model: CX-5 Touring AWD
Options: Bose/Moonroof Pkg, Tech Package, Crystal White Pearl
MSRP: $29,860
Offer: $27,808
This is a business transaction - try to keep the emotion out of it. Dealers want you to take the car home today, grow to love it, then do anything to keep it, even if it isn't in your best interest financially.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I guess we just have to ensure there are no "conditional approval" docs that they have us sign, but aren't those standard?
You are approved when you have the documents from the finance company. Dealers will 'spot deliver' to you - tell you that you are approved but you aren't, really.
That's why I recommend you don't take delivery - that way, any 'conditional approval' docs won't be necessary.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
We don't have the program that's valid for Indiana, to give money factors.. They should be very low, though (in the .00030-.00040 range).
Residuals: 53%/52% for 36 months..
61%/60% for 24 months (MF will be slightly higher for 24 months)
$450 lease support from Mazda
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Mazda CX5 AWD Touring
Here are our numbers for the itemization of gross capitalized cost:
Agreed upon value: 28770 (invoice +300)
Acquisition fee: 595
Options (cargo cover, net): 249.90
"Other": in the blank, the computer wrote "L185.1" and the numbers $1273.00
Gross capitalized cost: 30887.90
Our lease was for 36 months, 10,000 miles, $0 down. She quoted me a 56% residual and money factor of 0.00053.
So for our monthly payment, we have:
Gross capitalized cost: 30887.90
Residual: 16326.74
Depreciation: 14561.16
Rent charge: 900.84
Total base of monthly payments: 15462
Base monthly payment: 429.50
Tax: 26.84
Monthly payment: 456.34
So my two questions are as follows:
1. What is "L185.1", and why did it cost $1273?
2. The monthly payment of $456.34 just seems high. And I don't know how we got such a high payment. The negotiated sale price was $300 above invoice, which I thought was pretty good.
Any help anyone can provide I would greatly appreciate it...
You don't say where you live, so I'm going to guess that the $1273 is sales tax. You certainly shouldn't have signed a document with a charge for that amount of money without knowing what it's for.
Assuming the MSRP is around $29,155, then the math checks out. (I did a reverse calculation on the MSRP from the residual information). Also, not knowing where you live, I can't tell you if the money factor is good, or if they have marked it up for extra profit (Mazda lease programs are regional).
Why is the payment high? If I'm correct about the MSRP, you only received a $400 discount from MSRP, when Mazda is giving the dealer $450 on leases of this model. Plus, you bought $249 in accessories that don't get residualized. Plus, the CX-5 lease program is just average. It's not a real cheap vehicle to lease.
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The base MF for MA is .00001, so your money factor is being marked up for extra profit. It looks like sales tax is paid monthly, so I'm at a loss as to what the $1273 is for. Some kind of maintenance or insurance plan?
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We've already signed. But we haven't yet taken possession of the vehicle. Do we have any recourse?
If you haven't given them any money, then the contract is not complete.
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I am looking to strike a deal by next week.
No.. there is a document that shows residuals and money factors on the same page.. Good catch on the maintenance plan.. Wow, $35/mo. for scheduled maintenance on a Mazda... pretty pricy. (not to mention underhanded and sneaky).
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.00001 MF and 53% residual. $925 lease cash.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
$30105 MSRP
$28427 sales price
36 month term
15000 miles per year
NJ
The sales price doesn't factor in owner loyalty and/or lease support. What are the MF and residual value from Mazda for November 2014? Are there any other lease incentives?
Using your MSRP and sales price, I get a pre-tax payment of $346.87.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
CX-5 2wd Touring 36mo/12 & 15k miles:
CX-5 Awd Touring 36mo/12 & 15k miles:
CX-5 2wd Grand Touring 36mo/12 & 15k miles:
CX-5 Awd Grand Touring 36mo/12 & 15k miles:
(San Francisco, Bay Area)
I would be trading in a Honda (end of lease) so no Mazda loyalty. Any there any cash incentives for using Mazda leasing?
Thanks!!
CX-5 Awd Touring 36mo/15k miles: 51%
CX-5 2wd Grand Touring 36mo/15k miles: 52%
CX-5 Awd Grand Touring 36mo/15k miles: 53%
.00001 MF for all.
Add 1% to all residuals for 12K.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
CX-5 2wd Touring 36mo/12 & 15k miles: 50%/49% residual
CX-5 Awd Touring 36mo/12 & 15k miles: 52%/51% residual
CX-5 2wd Grand Touring 36mo/12 & 15k miles: 53%/52% residual
CX-5 Awd Grand Touring 36mo/12 & 15k miles: 54%/53% residual
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MSRP: 30505
Selling: 29879
-925 lease cash
-750 mazda loyalty
Money factor 0.00001
36m/15K
zero out of pocket at signing (all fees, registration, etc/first payment rolled into lease given lease charge with this money factor is about $4 a month)
Monthly payment is $395.66 (actually 35 payments of this)
Thoughts on the deal? This is in CT, dealer charges $385 to process documents and tax (included in above payment) is 6.35% It looks like selling price is right at invoice.
What is the final cap cost once all fees are rolled in? If I use the MSRP of $30505, and the current cap cost of $28,204, I get a pre-tax payment of $334.79. If the tax is applied directly to the payment, then the payment goes to $356.05. So, there must be around $1400 of fees added in.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Looking at a GT AWD CX-5 with Tech package, Red
MSRP is right around 31775
I am trading in a car with negative equity.
Payoff is 27.5
Buyout offer is 22.5
Negative equity is 5 (several factors that are forcing me to do this)
I am bringing 3.5 out the door, rolling in 2k
Figure on acquisition/fees of 5-700
No tax (Active Military out of state)
The lease is negotiated in VA, car will be registered in NY
Top tier credit.
Based on lease cash and military rebates, I figure a # in the low 4s.
I was just hit with 530/m
Am I off on the calculations, or is the dealer taking me for a ride?
What is the selling price of the CX-5? If we can establish a "clean" lease payment, that gives us a starting point.
Also, what lease term and miles per year are you looking at?
Otherwise, too many numbers for the dealer to manipulate to get to the payment they've quoted.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thank you
Every $1000 of negative equity will add about $28/mo to the payment. Add tax you are over $400/mo.
Dealer needs to sharpen their pencil if they are offering $530/mo
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I am kind of blown away by the Mazda dealer antics. I have leased multiple Nissans, and 3 VWs in the past few years, and never got so much variability.
Given the same scenario (-5500 equity but a 3500 cap cost reduction, 12K, 36M, no tax-military benefit) I got
(the trade assessment was virtually the same everywhere so that factor is negated)
497/39m
450/48m - dealer said 36m was "mid fives" but would not share. I didn't pursue
480/39m
530/39m - he genuinely thought it was a good deal, at least sold it well
479/36m - MF was padded
First 2 in Long Island, NY. Third in north NJ. Last two in Richmond VA area. Not sure if I should continue pursuing Mazda.
Lease numbers are different in NY/NJ, too, which may account for the difference in payment.
You may also ask the dealers how they're using the $3500 cash - if they are using it to handle the up front fees and taxes, then more of the negative equity is being rolled into the lease, thus increasing the payment.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Only the last dealer was willing to show me the math. They are using the 3500 for acq fee (ok, expected although the MF was 0.00064 and I would expect the acq to be reduced or gone), 480 in dealer "fees" (not too willing to budge on this #) and some other "mandatory" (???) $300 fees, and 200 doc fee (also not negotiable according to them)
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Mazda dealerships don't seem to be willing to come off their fees at least in my experience with the last quotes. Every one of them claimed poverty and said that the only money they make with Mazda is through their sales commission of $100. When I pointed at 480+300+200 in fees, they only said that it's "mandatory"
Speaking of Mazda financial, is there such an entity? I was told that it's underwritten by Chase
Mazda does not allow for a higher MF in order to waive the acquisition fee. There is also a $300 disposition fee and a $50 purchase option fee depending on what you decide to do at lease end.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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(2) What motivation could the dealer have for wanting to redo the contract? They are saying that the money factor has gone down (which I am not inclined to take at face value), so what other considerations are there? For example, could it benefit the dealer for the lease/sale to be counted towards November instead of October? Thanks again for your help.
(2) It's not often that we hear of a dealer asking to redo a contract with terms that are more favorable to the customer - it's usually the other way around, and usually due to credit-worthiness on the part of the customer.
If you have the time, head down to the dealer with your original contract in hand and compare the numbers, line by line, with the new one they want you to sign. While the MF may have been reduced, there may be other fees added into the contract that benefit only the dealer.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
If available, please could you post the December residual and MF for a 36 month / 12K lease on a 2015 GT AWD in RI.
Thanks in advance.
.00034 MF and 54% residual. $925 lease cash.
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CX-5 Awd Touring 36mo/12 & 15k miles:
CX-5 2wd Grand Touring 36mo/12 & 15k miles:
CX-5 Awd Grand Touring 36mo/12 & 15k miles:
(San Francisco, Northern CA, Bay Area)
Any cash incentives for using Mazda leasing?
Also, when comparing OTD sales price to the dealer invoice, is the destination charge included in the dealer invoice? I' have been reading through several of the forums where buyers for example have stated they purchased the car for $1,000 under invoice , so i was curious if destination charge is included in the invoice price.
thanks!!