Car Buying Advice - Lease Numbers on a 2017 Mazda 6

mazdanewbie2

I got an offer today and wanted to know if it was a good one. I've never leased before. This is for the 2017 Mazda 6 Touring trim with the bose/moonroof/xm satellite radio package. 

Gross capitalized cost (includes taxes,fees,servive contacts): $28,414.35
Capitalized cost reduction: $1145.00
Adjusted capitalized cost: $27,269.35
Residual: $13,702

MSRP: $27,405
Invoice: $25,889
Money Factor: .0001

39 months/15k miles
$0 down 

They told me my payments would be: $376.14/month 

Can someone explain how the payment was determined? What equation was used? AND if it's a good deal?

I was under the impression they were going to work negotiate at invoice, but it seems like they didn't.

I would greatly appreciate it if someone can explain this to me

Thank you!  

kyfdx

mazdanewbie2 said:

I got an offer today and wanted to know if it was a good one. I've never leased before. This is for the 2017 Mazda 6 Touring trim with the bose/moonroof/xm satellite radio package. 

Gross capitalized cost (includes taxes,fees,servive contacts): $28,414.35
Capitalized cost reduction: $1145.00
Adjusted capitalized cost: $27,269.35
Residual: $13,702

MSRP: $27,405
Invoice: $25,889
Money Factor: .0001

39 months/15k miles
$0 down 

They told me my payments would be: $376.14/month 

Can someone explain how the payment was determined? What equation was used? AND if it's a good deal?

I was under the impression they were going to work negotiate at invoice, but it seems like they didn't.

I would greatly appreciate it if someone can explain this to me

Thank you!  

.00001 MF (4 zeroes) and 50% residual.
$745 lease cash.

I see the Gross CAP, but do you know the breakdown of that number? Sale price? Tax? Fees?
How much is due from you at signing?

The calculation is correct for that MSRP and Net CAP, but how they came up with the $28,414 Gross CAP is the real question.

On a real world dollar term, that is not a low lease payment for a $27K MSRP vehicle.

kyfdx

mazdanewbie2 said:

Thanks for responding! The gross capitalized started at $27,034.00

These are the fees which were added on: I'm in CA, sales tax is 8%.

Sales/use tax (this was on the rebate of $1145 they offered): $91.60
Acquisition fee: $595.00
Dealer doc fee: $80
Electronic filing charge: $29.00
CA tire fee: 8.75
VLF fees (registration): $277.00
Theft shield: $299.00 

I paid $0 at signing, except for my 1st car payment, but on the contract, line 5 states: amout due at lease signing or delivery ($1521.14 which comes from my 1st monthly payment of $376.14 + rebate of $1145.00)

And I had a feeling the lease payment was a bit high. What needed to happen to lower that payment? And if I had financed instead, would that have cost me less in the long run? 

I guess I just want to know which option saved me money? For financing I qualified for 0.9% for 60 months, but was told my payments would be crazy high!

This is my very first car purchase so I greatly appreciate the help and advice

Your discount from MSRP is only $370. And, then $299 added for theftshield, which seems useless, and I don't even know what that is. So, basically, you paid full MSRP on the vehicle.

So, negotiating a lower selling price would have helped, a lot.

Would you have come out ahead by purchasing? Probably not, if you intended to trade in the car after 39 months.

mazdanewbie2

Thanks for responding! The gross capitalized started at $27,034.00

These are the fees which were added on: I'm in CA, sales tax is 8%.

Sales/use tax (this was on the rebate of $1145 they offered): $91.60
Acquisition fee: $595.00
Dealer doc fee: $80
Electronic filing charge: $29.00
CA tire fee: 8.75
VLF fees (registration): $277.00
Theft shield: $299.00 

I paid $0 at signing, except for my 1st car payment, but on the contract, line 5 states: amout due at lease signing or delivery ($1521.14 which comes from my 1st monthly payment of $376.14 + rebate of $1145.00)

And I had a feeling the lease payment was a bit high. What needed to happen to lower that payment? And if I had financed instead, would that have cost me less in the long run? 

I guess I just want to know which option saved me money? For financing I qualified for 0.9% for 60 months, but was told my payments would be crazy high!

This is my very first car purchase so I greatly appreciate the help and advice

mazdanewbie2

Thank you. That's what I figured...I did ask to start at invoice, but that didn't happen after all fees were added. 

I plan to purchase the car at the end of my lease. Knowing that, would financing have saved me more money in the end or not?

I do know when you finance, you pay about 11% on top of the car cost for fees, taxes, license, registration, etc? 

kyfdx

mazdanewbie2 said:

Thank you. That's what I figured...I did ask to start at invoice, but that didn't happen after all fees were added. 

I plan to purchase the car at the end of my lease. Knowing that, would financing have saved me more money in the end or not?

I do know when you finance, you pay about 11% on top of the car cost for fees, taxes, license, registration, etc? 

Finance:
Avoid $595 acquisition
Higher interest charges than lease
DMV fees other than tax are the same as lease

Lease to buy:
$595 acquisition fee
Lower finance for lease term, but uncertain interest charges when you purchase as used car, at end of term.
Lower sales tax at first, but still have to pay tax on purchase at lease end.
Ability to walk away from car at lease end, if you don't want to keep it.

adrian69

Please help, I'm planning to lease a Mazda 2017 touring in Missouri MSRP $26080, what would be the MF and the % of residual value?

thanks

adrian69

Btw I'm exploring 36/12 or 36/15

adrian69 said:

Please help, I'm planning to lease a Mazda 2017 touring in Missouri MSRP $26080, what would be the MF and the % of residual value?

thanks

kyfdx

adrian69 said:

Btw I'm exploring 36/12 or 36/15

adrian69 said:

Please help, I'm planning to lease a Mazda 2017 touring in Missouri MSRP $26080, what would be the MF and the % of residual value?

thanks

Assuming automatic:

.00001 MF and 52%/50% residual.
$1750 lease cash

39 month:
.00029 MF and 52%/50% residual
$1750 lease cash

matthaney

What is current MF and RV on Touring A/T?

36/12 & 36/10

Thank you

kyfdx

matthaney said:

What is current MF and RV on Touring A/T?

36/12 & 36/10

Thank you

.00002 MF and 53%/54% residual.
$1442 lease cash

klshopcar

Hi,
Im new to leasing, and get a quote of a 2017 Mazda 6 Sport. I dont have other info, how is deal?
209 per month
36 months 10000 miles per year
$2300 down ( is this Capitalized cost reduction: ?)

I dont have other info, how is deal? dealer is in NJ

Thanks
KL

kyfdx

klshopcar said:

Hi,
Im new to leasing, and get a quote of a 2017 Mazda 6 Sport. I dont have other info, how is deal?
209 per month
36 months 10000 miles per year
$2300 down ( is this Capitalized cost reduction: ?)

I dont have other info, how is deal? dealer is in NJ

Thanks
KL

Do you know the MSRP?

If it's $2300 due at signing, then it won't all be CAP cost reduction. Some (most?) of it will be to pay upfront fees and taxes.

klshopcar

kyfdx said:

klshopcar said:

Hi,
Im new to leasing, and get a quote of a 2017 Mazda 6 Sport. I dont have other info, how is deal?
209 per month
36 months 10000 miles per year
$2300 down ( is this Capitalized cost reduction: ?)

I dont have other info, how is deal? dealer is in NJ

Thanks
KL

Do you know the MSRP?

If it's $2300 due at signing, then it won't all be CAP cost reduction. Some (most?) of it will be to pay upfront fees and taxes.

Hi,
MSRP is 24185
Here i quote from the offer email.

Closed end lease for 2017 Mazda 6 Sedan Sport for $209 per month for 36 months on approved excellent credit. $2,509 total due at lease signing includes $2,300 down payment, first month payment, and $0 security deposit. Total cost to lessee is $9,824 over the lease term. 10,000 miles per year with an excess charge of $0.15 per mile thereafter.

Thanks
KL

Michaell

klshopcar said:

kyfdx said:

klshopcar said:

Hi,
Im new to leasing, and get a quote of a 2017 Mazda 6 Sport. I dont have other info, how is deal?
209 per month
36 months 10000 miles per year
$2300 down ( is this Capitalized cost reduction: ?)

I dont have other info, how is deal? dealer is in NJ

Thanks
KL

Do you know the MSRP?

If it's $2300 due at signing, then it won't all be CAP cost reduction. Some (most?) of it will be to pay upfront fees and taxes.

Hi,
MSRP is 24185
Here i quote from the offer email.

Closed end lease for 2017 Mazda 6 Sedan Sport for $209 per month for 36 months on approved excellent credit. $2,509 total due at lease signing includes $2,300 down payment, first month payment, and $0 security deposit. Total cost to lessee is $9,824 over the lease term. 10,000 miles per year with an excess charge of $0.15 per mile thereafter.

Thanks
KL

That isn't a quote; that is an ad. I'm sure in the fine print somewhere it talks about taxes and fees being extra.

You want to negotiate your selling price; I'm sure you can beat the price from the ad with decent skills.

You also don't want to make a down payment - your only up front cash should be for the first payment and the NJ DMV costs. Add the taxes and fees into your selling price.

If you do that, your payment will be higher than $209/mo.

brighouse

What is the May MF and RV on 6GT in NY or FL, 36/12 & 36/10? Is it better to lease in one state over the other? There seems to be tax treatment negatives in NY, however the dealers seem more competitive than on the space coast.

brighouse

Also, is there still lease cash or other incentives?

Michaell

brighouse said:

What is the May MF and RV on 6GT in NY or FL, 36/12 & 36/10? Is it better to lease in one state over the other? There seems to be tax treatment negatives in NY, however the dealers seem more competitive than on the space coast.

brighouse said:

Also, is there still lease cash or other incentives?

NY and FL share the same numbers:

.00010 and 52% / 53%

$490 lease cash

zachrcr

Hey there, I am in need of some help on whether the lease term quotes I received yesterday are good or bad.

I am looking at both the 2017 Mazda 6 GT and the Touring

For the GT they quoted me as follows:

MSRP - 31,885
Discount - 700
Sale price - 31,185
Fabric and paint protection plan - 699.00

sale price - 31,884
tax - 2550.72
tag and title - 22.50
doc fee - 75

Total - 34,532.22
Rebate - 1000
Balance - 33,532.22

36 month lease, 12k miles, $2420 lease cash
Residual - $16,899.05

Payment - $406.66

For the Touring they quoted me as follows:

MSRP - 27,453.00
Discount - 1000
Sale price - 26,453.00
Fabric and paint protection plan - 699.00

sale price - 27,152.00
tax - 2172.16
tag and title - 22.50
doc fee - 75

Total - 29,421.66
Rebate - 1000
Balance - 28,421.66

36 month lease, 15k miles, $2420 lease cash
Residual - $14,001.03

Payment - $348.25
Out of pocket - $445.75

Are these reasonable or should I work on getting the MSRP down to lower my monthly payment. For the GT I reviewed true car for my area in NY and saw a good price was more in line with $29.5k as opposed to $31-32k.

Thank you for any help you can provide!!

kyfdx

zachrcr said:

Hey there, I am in need of some help on whether the lease term quotes I received yesterday are good or bad.

I am looking at both the 2017 Mazda 6 GT and the Touring

For the GT they quoted me as follows:

MSRP - 31,885
Discount - 700
Sale price - 31,185
Fabric and paint protection plan - 699.00

sale price - 31,884
tax - 2550.72
tag and title - 22.50
doc fee - 75

Total - 34,532.22
Rebate - 1000
Balance - 33,532.22

36 month lease, 12k miles, $2420 lease cash
Residual - $16,899.05

Payment - $406.66

For the Touring they quoted me as follows:

MSRP - 27,453.00
Discount - 1000
Sale price - 26,453.00
Fabric and paint protection plan - 699.00

sale price - 27,152.00
tax - 2172.16
tag and title - 22.50
doc fee - 75

Total - 29,421.66
Rebate - 1000
Balance - 28,421.66

36 month lease, 15k miles, $2420 lease cash
Residual - $14,001.03

Payment - $348.25
Out of pocket - $445.75

Are these reasonable or should I work on getting the MSRP down to lower my monthly payment. For the GT I reviewed true car for my area in NY and saw a good price was more in line with $29.5k as opposed to $31-32k.

Thank you for any help you can provide!!

If you received the lease quote on May 31st, that program is over, and a new one started on June 1st.

Just for starters, those are terrible quotes. Charging $700 for useless paint and fabric protection basically takes away the discount, and results in you paying full MSRP.
Also, the sales tax numbers given are way too high for a lease. Those are purchase sales tax numbers, making the rest of the quoted numbers irrelevant.

.00001 MF and 51% residual for 36/15.
$1170 lease cash
For either model.

teefitz

Looking for mf residual and lease cash numbers on

2017 mazda 6 touring 36/15
and
2017 mazda 6 GT 36/15

33455 Florida

kyfdx

teefitz said:

Looking for mf residual and lease cash numbers on

2017 mazda 6 touring 36/15
and
2017 mazda 6 GT 36/15

33455 Florida

To avoid confusion, please post in this discussion, rather than this old Question/answer discussion.
https://forums.edmunds.com/discussion/42944/mazda/mazda6/2017-mazda6-lease-deals-and-prices#latest