2016 Mazda 6 Touring lease question- Help!

burger12burger12 Member Posts: 4
edited May 2016 in Mazda
I was quoted at my local dealer for a 2016 Mazda 6 Touring (located in Pennsylvania)

$2,000 down, 36 months lease. Per month was $267 (including taxes & fees)

Residual was: $13,288.05
MSRP: $26,860
-5472.00 discounts and rebates
=$21,388 total

This is my first time leasing a car so i'm worried if this is a good deal or not....Please let me know your thoughts!

Comments

  • kyfdxkyfdx Moderator Posts: 207,893
    burger12 said:

    I was quoted at my local dealer for a 2016 Mazda 6 Touring (located in Pennsylvania)

    $2,000 down, 36 months lease. Per month was $267 (including taxes & fees)

    Residual was: $13,288.05
    MSRP: $26,860
    -5472.00 discounts and rebates
    =$21,388 total

    This is my first time leasing a car so i'm worried if this is a good deal or not....Please let me know your thoughts!

    What mileage allowance? If it's 10K/yr, then .00001 MF and 51% residual. $2340 lease cash.
    Also, if that's the case, the actual MSRP is $26,055 (I got that working backwards from your residual amount).

    Given those numbers and my assumptions, it seems a little high. Especially with $2000 upfront.

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  • burger12burger12 Member Posts: 4
    Its actually a 12k/year mileage allowance. I thought it was a little high too...But maybe its not too high considering a 12k mileage allowance?
  • kyfdxkyfdx Moderator Posts: 207,893
    burger12 said:

    Its actually a 12k/year mileage allowance. I thought it was a little high too...But maybe its not too high considering a 12k mileage allowance?

    That would make up a little bit of it..

    But, the numbers still don't mesh. Residuals are always a round number percentage of MSRP. The only round number you can come up with, with the residual amoun you listed is 51%, but then it doesn't match the MSRP you gave. It's hard to give solid advice on the numbers, when there is a problem with the information.

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  • burger12burger12 Member Posts: 4
    kyfdx said:

    burger12 said:

    Its actually a 12k/year mileage allowance. I thought it was a little high too...But maybe its not too high considering a 12k mileage allowance?

    That would make up a little bit of it..

    But, the numbers still don't mesh. Residuals are always a round number percentage of MSRP. The only round number you can come up with, with the residual amoun you listed is 51%, but then it doesn't match the MSRP you gave. It's hard to give solid advice on the numbers, when there is a problem with the information.


    I am located in PA. What should be the residual percentage for the Touring for a 36month/12k lease with an MSRP price given to me of $26,860?

  • MichaellMichaell ColoradoModerator Posts: 206,343
    burger12 said:

    kyfdx said:

    burger12 said:

    Its actually a 12k/year mileage allowance. I thought it was a little high too...But maybe its not too high considering a 12k mileage allowance?

    That would make up a little bit of it..

    But, the numbers still don't mesh. Residuals are always a round number percentage of MSRP. The only round number you can come up with, with the residual amoun you listed is 51%, but then it doesn't match the MSRP you gave. It's hard to give solid advice on the numbers, when there is a problem with the information.


    I am located in PA. What should be the residual percentage for the Touring for a 36month/12k lease with an MSRP price given to me of $26,860?

    50% for 36/12

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  • burger12burger12 Member Posts: 4
    Michaell said:

    burger12 said:

    kyfdx said:

    burger12 said:

    Its actually a 12k/year mileage allowance. I thought it was a little high too...But maybe its not too high considering a 12k mileage allowance?

    That would make up a little bit of it..

    But, the numbers still don't mesh. Residuals are always a round number percentage of MSRP. The only round number you can come up with, with the residual amoun you listed is 51%, but then it doesn't match the MSRP you gave. It's hard to give solid advice on the numbers, when there is a problem with the information.


    I am located in PA. What should be the residual percentage for the Touring for a 36month/12k lease with an MSRP price given to me of $26,860?

    50% for 36/12

    Where does that 50% come from? Is that an industry standard for this car?
  • MichaellMichaell ColoradoModerator Posts: 206,343
    burger12 said:

    Michaell said:

    burger12 said:

    kyfdx said:

    burger12 said:

    Its actually a 12k/year mileage allowance. I thought it was a little high too...But maybe its not too high considering a 12k mileage allowance?

    That would make up a little bit of it..

    But, the numbers still don't mesh. Residuals are always a round number percentage of MSRP. The only round number you can come up with, with the residual amoun you listed is 51%, but then it doesn't match the MSRP you gave. It's hard to give solid advice on the numbers, when there is a problem with the information.


    I am located in PA. What should be the residual percentage for the Touring for a 36month/12k lease with an MSRP price given to me of $26,860?

    50% for 36/12

    Where does that 50% come from? Is that an industry standard for this car?
    It is set by the bank financing the lease. Mazda Capital Services, a division of Chase.

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  • mazda334mazda334 Member Posts: 3
    edited June 2016
    Thanks!
  • pete9999pete9999 Member Posts: 1
    Was given $395 a month for a lease , taxes included, no cash down , 15,000 miles a year for a Mazda 6 2016 Touring/Tech Package. Does it sound right ?
  • kyfdxkyfdx Moderator Posts: 207,893
    pete9999 said:

    Was given $395 a month for a lease , taxes included, no cash down , 15,000 miles a year for a Mazda 6 2016 Touring/Tech Package. Does it sound right ?

    .00005 MF and 47% residual for 36/15. $2275 lease cash

    What is the MSRP and selling price?

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  • tarantultarantul Member Posts: 1
    edited July 2016
    I got pretty similar quote in MD, Mazda 6 2016 Touring + tech package: MSRP 28 830 - 2 408(discount) - 2 275(rebate) = 24 147 total purchase.
    Total purchase 24 147 + 299 (processig) + 1603,26 (tax) + 331(non tax fees) = 26 380.26 (net price).

    No downpayment, 15 000 mileage, got the following monthly payments:
    36 m - 386 $ (MF: 0.00005; RV: 47%)
    39 m - 380 $ (MF: 0.00027; RV: 45%)
    48 m - 332 $ (MF: 0.00038; RV: 42%)

    I wonder can they go down further? And what could be my arguments?

    Thank you in advance.
  • MichaellMichaell ColoradoModerator Posts: 206,343
    tarantul said:

    I got pretty similar quote in MD, Mazda 6 2016 Touring + tech package: MSRP 28 830 - 2 408(discount) - 2 275(rebate) = 24 147 total purchase.
    Total purchase 24 147 + 299 (processig) + 1603,26 (tax) + 331(non tax fees) = 26 380.26 (net price).

    No downpayment, 15 000 mileage, got the following monthly payments:
    36 m - 386 $ (MF: 0.00005; RV: 47%)
    39 m - 380 $ (MF: 0.00027; RV: 45%)
    48 m - 332 $ (MF: 0.00038; RV: 42%)

    I wonder can they go down further? And what could be my arguments?

    Thank you in advance.

    Hmmm, with those prices and numbers, I get the following payments:

    36 - $358/mo
    39 - $354/mo
    48 - $312/mo

    I would confirm the net price with the dealer ..

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