What should I be paying for a lease amount per month? 2015 Mazda CX-5.

blt3463

2015 CX-5 Grand Touring. 36 month, 15,000 miles a year.
MSRP: 30505
INVOICE: 29,581
SELLING: 30,005
RESIDUAL: 16,167 (If I calculated correctly that would be 53%).
MONEY FACTOR: .00001 = .024
NO SECURITY
MONEY DOWN DUE AT SIGNING: 2,000 I was told this would include 1st month payment,
tax (8% - NY State), DMV fees & bank fees.
I was told my payment with all the above would be $408 per month.
Seems high to me?!
I have tried doing all kinds of research for 3 days now and I'm getting a ton of different amounts.
Can anyone please help me as my current lease is running out soon and I want to lease the CX-5.
Thank you in advance for your replies.

kyfdx

blt3463 said:

2015 CX-5 Grand Touring. 36 month, 15,000 miles a year.
MSRP: 30505
INVOICE: 29,581
SELLING: 30,005
RESIDUAL: 16,167 (If I calculated correctly that would be 53%).
MONEY FACTOR: .00001 = .024
NO SECURITY
MONEY DOWN DUE AT SIGNING: 2,000 I was told this would include 1st month payment,
tax (8% - NY State), DMV fees & bank fees.
I was told my payment with all the above would be $408 per month.
Seems high to me?!
I have tried doing all kinds of research for 3 days now and I'm getting a ton of different amounts.
Can anyone please help me as my current lease is running out soon and I want to lease the CX-5.
Thank you in advance for your replies.

I get a payment of about $399/mo., using your parameters. The money factor and residual are correct. You are paying full MSRP? A lower selling price will lower your payment.

blt3463

Thanks for your reply. MSRP shows 30,505. Selling price is 30,005. A $500 deduction. I am getting ready to contact the salesman and say all is well except selling price and ask if they will come down some. What if they say no? What does one do then?

Michaell

blt3463 said:

Thanks for your reply. MSRP shows 30,505. Selling price is 30,005. A $500 deduction. I am getting ready to contact the salesman and say all is well except selling price and ask if they will come down some. What if they say no? What does one do then?

That's up to you .. you can either accept the offered price by the dealer or walk away and try again with a difference Mazda dealer.

Mr_Shiftright

Remember---you cannot successfully negotiate if you aren't totally prepared to walk out of the showroom. If you're done playing those games and are determined to walk out of there with a car, then maybe you won't get the BEST price, but sometimes one's time is worth more than a few hundred dollars. However, there's no harm in spending a day shopping around before you sign anything.