Leasing a 2016 Mazda 3
hello everyone, this is my first time ever leasing a car and i really need help or any advice since i barely know anything. I've been trying to juggle around numbers, and also trying to find out if I can beat the subsidized lease (159/mo for 36 month with 1999 as down payment) price because I don't wanna pay over 4000 up front (1999 down + other fees)
North NJ
2016 Mazda 3 AT iSport Sedan
MSRP: 18895 (w.o. destination)
invoice: 18083 (w.o. destination)
Destination: 835
Acquisition Fee: 595
36000 mileage
What is the residual value, and the money factor if my credit score is ~720 (im assuming it's gonna be lower when they check since I have no history of auto loans)?
Here was my original plan
Gross Cap (what i offered): 17000 --> was it too low?
Net Cap: 17000 + 595 Acq Fee + 835 Dest Fee = 18430
RV (Assuming 54%) = 10203.3
MDF = 228.52
MFC = 35.79 (Assuming APR of 3% or MF of 0.00125)
Monthly payment of 264.31/mo with 0 down, Up front Fees with only include 1st month payment and dealer fees
Total Fee over lease term would be (with 7% NJ tax but excluding dealer fees) = 10181.22
is my calculation correct? is calling 17k too low? Also I noticed there's a "Mazda Customer Lease Support" of $915 as part of the subsidized lease promotion. Can I ask for that cashback or is it for exclusively that deal only?
Thank you!
North NJ
2016 Mazda 3 AT iSport Sedan
MSRP: 18895 (w.o. destination)
invoice: 18083 (w.o. destination)
Destination: 835
Acquisition Fee: 595
36000 mileage
What is the residual value, and the money factor if my credit score is ~720 (im assuming it's gonna be lower when they check since I have no history of auto loans)?
Here was my original plan
Gross Cap (what i offered): 17000 --> was it too low?
Net Cap: 17000 + 595 Acq Fee + 835 Dest Fee = 18430
RV (Assuming 54%) = 10203.3
MDF = 228.52
MFC = 35.79 (Assuming APR of 3% or MF of 0.00125)
Monthly payment of 264.31/mo with 0 down, Up front Fees with only include 1st month payment and dealer fees
Total Fee over lease term would be (with 7% NJ tax but excluding dealer fees) = 10181.22
is my calculation correct? is calling 17k too low? Also I noticed there's a "Mazda Customer Lease Support" of $915 as part of the subsidized lease promotion. Can I ask for that cashback or is it for exclusively that deal only?
Thank you!
0
Best Answer
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Michaell Moderator Posts: 251,601benz895 said:Thank you for your answer. I have few more questions though is the MF really that low? considering I don't have that great of a credit score, it seems more like a typo...since that means my interest would be only a few cents per month also, is there a way to find out if 915 lease cash only applies to the promotion deal, or can I ask to apply it to any lease? it is only mentioned in the promotion deal in fine print. my last question for now is, is there a way I can find out about dealer hold back for Mazda? thank you so much
The $915 of lease cash is a factory to dealer incentives. The dealer can choose to pass it along to the customer in any lease deal.
There is an article here at Edmunds about holdback, but the article is several years oldEdmunds Price Checker
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Answers
I don't track selling prices, so can't tell you if the $17,000 offer is reasonable or not.
Using $18,895 as the MSRP and $17,000 as the cap cost, I get a payment of about $179/mo plus tax. The $1999 down on the national offer represents about $55/mo on the payment, but the discount from sticker is probably smaller. We don't recommend making a down payment on a lease - that money would be lost if the car is stolen or totaled.
The up front costs - bank fee, dealer fee, sales tax - are, as noted, due up front, or can be rolled into the cap cost.
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is the MF really that low? considering I don't have that great of a credit score, it seems more like a typo...since that means my interest would be only a few cents per month
also, is there a way to find out if 915 lease cash only applies to the promotion deal, or can I ask to apply it to any lease? it is only mentioned in the promotion deal in fine print.
my last question for now is, is there a way I can find out about dealer hold back for Mazda?
thank you so much
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However, we don't recommend putting money down on a lease - if the car is stolen or totaled, you lose that money.
Be up front about your desire to lease. There are specific incentives for leasing vs. purchasing, and you don't want to get a selling price the dealer cannot honor when you 'spring' the comment about leasing on them.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Here is the current offer Mazda has running on a 2016 Mazda3 Lease.
ZERO TO DRIVE LEASE SPECIAL
$219/Month
36-Month Lease
36k Miles
$0 Down Payment
$0 Security Deposit
$0 1st Month's Payment
$0 Due at Lease Signing
Excludes taxes, title and fees. Monthly payment includes a $595 Acquisition Fee.
they said only document fee will be added to drive off payment, no advertising fee and floor plan fee.
is it a good deal to take or I still need to negotiate to lower MSRP and monthly lease? It's my first car, any comment will be appreciated!
My guess is that the advertised deal already assumes some sort of discount from MSRP.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
mazda 3 hatchback residuals of 4 trims and MF for a 36/10k lease please. i understand if it takes a day or so to get January numbers since its new month.
Thank you
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Sedan or hatch?
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
.00003 MF and $850 lease cash
55%/56%/57%/57% residual for:
Sport/Touring/2.5Touring/Grand Touring
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36/12 term for 93030 in SoCal
Manual or automatic?
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Could you provide me with the RV/MF for the 2017 Mazda 3 Sport 36 months/10k miles? In Arizona. Are there any incentives you're aware of?
https://forums.edmunds.com/discussion/43307/mazda/mazda3/2017-mazda-mazda3-lease-questions#latest
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