2016.5 Mazda CX-5 GT lease offer - 2nd opinion

akca777akca777 Member Posts: 3
edited May 2016 in Mazda
New to leasing, and a bit confused. Looking at a 2016.5 Mazda CX-5 Grand Touring in CA and was offered this. (I'm in contact with this dealership through a TrueCar estimate I had pulled online)-

MSRP: $29470
PRICE AFTER DISCOUNT: $28221 true car price.
DOWN PAYMENT: $1000
LEASE: 36 MONTHS
RESIDUAL: $17387.30
TAXES: $1172.45
GOVT FEES: $312.75
MONTHLY PAYMENT: $365.87 including tax.

15k miles, license registration doc fees are included in you down payment, and yes theres $300 disposition fee.

Can I pull money factor from this info as well?

Comments

  • kyfdxkyfdx Moderator Posts: 187,579
    akca777 said:

    New to leasing, and a bit confused. Looking at a 2016.5 Mazda CX-5 Grand Touring in CA and was offered this. (I'm in contact with this dealership through a TrueCar estimate I had pulled online)-

    MSRP: $29470
    PRICE AFTER DISCOUNT: $28221 true car price.
    DOWN PAYMENT: $1000
    LEASE: 36 MONTHS
    RESIDUAL: $17387.30
    TAXES: $1172.45
    GOVT FEES: $312.75
    MONTHLY PAYMENT: $365.87 including tax.

    15k miles, license registration doc fees are included in you down payment, and yes theres $300 disposition fee.

    Can I pull money factor from this info as well?

    You need the adjusted CAP cost. Which probably includes the acquisition fee, and whatever else they've added.
    It looks like $1000 is the total amount due at signing?
    The tax number is just informational, as CA taxes the monthly payment. The only upfront tax would be on CAP reduction amount from the $1000.

    .00049 MF and 59% residual for FWD.

    Just using rough figures, it doesn't look like the MF is marked up, but I'd ask them to disclose it.

    What is your tax rate?

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  • akca777akca777 Member Posts: 3
    Yes, $1000 due at signing. I also have a car I'd trade in.

    Tax rate 25%
  • kyfdxkyfdx Moderator Posts: 187,579
    akca777 said:

    Yes, $1000 due at signing. I also have a car I'd trade in.

    Tax rate 25%

    Not your tax rate... your state's sales tax rate.. lol

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  • akca777akca777 Member Posts: 3
    edited May 2016
    Hah! Los Angeles, CA 9%
  • kyfdxkyfdx Moderator Posts: 187,579
    akca777 said:

    Hah! Los Angeles, CA 9%

    The base MF is .00049. If the selling price is the same as the adjusted CAP cost, then $323/mo.+tax, or about $352/mo. I'd guess you still have to add the acquisition fee on to that number, which would put you just about on their number.

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