2016 Mazda CX-5 lease quote

colinka333

Hello. I just got a least quote for a 2016 Mazda CX-5 Grand Touring with AWD MSRP $30,350 $29,111 internet price. $500 incentive. Equity from lease + $1500 = $259/month

I would appreciate if you could look at the screen shot of figures the dealer sent me and tell me if it looks legit. We turned in a 2012 Subuaru Forester with 21,000 miles on it after a 36 month 12k lease. Obvious equity. Dealer danced around the question of exactly how much they were giving us in equity. We put an additional $1500 down to cover 1st payment and fees. We live in NY so taxes must be paid up front and not rolled into payment. The numbers are not making sense to me. Is this a good deal?? Thank you in advance

kyfdx

colinka333 said:

Hello. I just got a least quote for a 2016 Mazda CX-5 Grand Touring with AWD MSRP $30,350 $29,111 internet price. $500 incentive. Equity from lease + $1500 = $259/month

I would appreciate if you could look at the screen shot of figures the dealer sent me and tell me if it looks legit. We turned in a 2012 Subuaru Forester with 21,000 miles on it after a 36 month 12k lease. Obvious equity. Dealer danced around the question of exactly how much they were giving us in equity. We put an additional $1500 down to cover 1st payment and fees. We live in NY so taxes must be paid up front and not rolled into payment. The numbers are not making sense to me. Is this a good deal?? Thank you in advance

I can't really see where they gave you any credit for equity in the lease... certainly not $1500 worth.

One note.. Even though tax is collected upfront in NYS, you can still roll that amount into the CAP cost. You don't have to use your upfront cash for it.

colinka333

Im so confused. I feel like Im not getting what we should and the numbers don't make sense AT ALL!! I was on the phone with the manager for over an hour and don't feel like I got any answers about where the money is allocated to. What is the difference between Cash down and Cash Cap Reduction?? And also, what is CapTax 1 Rt/Amt?? What can I do to make more sense of everything?? My mom is supposed to pick the car up on Monday but Im not feeling great about the deal.

kyfdx

colinka333 said:

Im so confused. I feel like Im not getting what we should and the numbers don't make sense AT ALL!! I was on the phone with the manager for over an hour and don't feel like I got any answers about where the money is allocated to. What is the difference between Cash down and Cash Cap Reduction?? And also, what is CapTax 1 Rt/Amt?? What can I do to make more sense of everything?? My mom is supposed to pick the car up on Monday but Im not feeling great about the deal.

The CAPtax is tax on the amount of money paid upfront, that isn't in the lease payment.

Cash down is the amount due at signing. Cash Cap reduction is the amount of that money that is allocated towards reducing the CAP cost.