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# Mazda3 Lease Questions

CarMan@Edmunds
Member Posts:

**38,514**
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Mazda3. Thanks.

*Car_man*

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## Comments

2I posted this in the general lease forum, but perhaps it would be better here...

I'm looking to lease a 2005 Mazda 3 (manual transmission, 5 door hatch/wagon) for 24 months. What type of deal on a lease should I work towards or expect? I'm located in the SF area of California if that helps.

Thanks.

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1,986I know that some very high end cars - Ferrari & Porsche - will be leased for 24 or even 12 months - but that is normally the super rich who just want the latest toy.

Its been close to 20 years since I was in the leasing business - so I am sure my numbers are not 100% accurate - but on a $20K MSRP car your payment on a 48 month lease will run close to $350 a month - take that down to 24 months and the payment will be at least $500 a month. They will also try and squeeze the number of miles allowed per year down to 10,000 - many longer term leases will be offered at 12-15,000 miles per year - but like everything else its negotiable.

14Just getting into the 3 pricing and whatnot, but I've been looking to lease. We only have one local Mazda dealership around here, and the salesman quoted me around $339 a month for a 3S Touring 06 model. That seemed REALLY off to me for a 48 month lease, considering for a Cobalt, which was just around $1000 less the monthly payment for the same term was less than $230.

I wanted to see if I could find the Money Factor and residual so I could compute the lease price myself but I'm having no luck. Any suggestions on the next course of action here would be very appreciated.

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8How would these numbers, the residual and money factor, change for the same car - an '06 Mazda 3s - for a 36month/12k/yr. lease?

Thanks in advance!

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1Could you please help me find out the latest residual and money factor numbers for a Mazda3s Touring 5-door automatic, for 12K/yr and 36, 39 and 42 months? Trying to help my sister decide what she can afford to lease ...

Thanks,

David

36I have an offer from a dealer for the subject car of $17484 (base car with Auto and ABS), MSRP is $19365. With that in mind what should I be looking at for a 39 month lease with $0 down and 12K miles?

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10I have read so much good about the MAzda3

yet my emails to dealers asking for lease deals have gone unanswered.

Is there any way to get a good lease deal on a MAzda3 (like the ones offered on jetta/passat, even saab 3 and audi4)

should i wait until after jan 3 (when all the current manufacturer deals end) for better deals in jan...does history show greater incentives in january?

thanx

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10Thnaks very much for your frank appraisal of the MAzda lease program. I will watch for developments this month...but won't be holding my breath!

Cheers

144I don't see a forum for Mazda5 lease questions, so please pardon me for posting this here. Thank you so much for your help, and pointing me on to some good leasing resources on Edmunds.

Charlotte

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2I'm hoping someone can help me out: I am considering a 2006 Mazda 3i 4door sedan w/ touring (white/tan gut :shades: ). The local Mazda dealership (Partyka Mazda in Hamden, CT) told me about Mazda's AVP Plan (Assured Value Plan). Evidently, it's somewhat like a lease agreement but I will own the car -- it is in my name.

Does anyone know anything about this plan? What are the pros and cons?

Thanks!!

-CarCutieCT

3,159The way you pay for the vehicle, it sounds like a lease, but it is not a lease. It is a finance. Your monthly payment is like a lease, and you do have mileage restrictions. i.e. 12K or 15k per year.

Pro's are you do not have to pay a bank fee, security deposit, acquisition fee. Also, the vehicle is registered in your name, so you may get an insurance break. You may trade this vehicle in at any time, unlike a lease, where you may have to go over your contract to see if you can do so. At the end, you can pay the "balloon" payment if you choose to own the car out right, or finance that balance, or just turn the car in. If you are over miles, I believe it is 18 cents a mile.

Con's are not that significant. You do pay more over time as opposed to a general finance. You also pay sales tax on the full amount of the car, as opposed to just a portion like a lease.

I think I about covered it, I may have left a few out, but, I believe I listed the major ones. I hope I have helped you.

3,138Why not just buy the car? If the answer is "thats the only way I can afford the payments" you need to review closely what your doing and get a complete understanding of the contract your about to sign.

284$270/month for years 4 & 5 = $6480

Additional $65/month for years 1 - 3 = $2340

According to Edmunds "True Cost to Own" estimations, your $19,200 car would be worth $8256 at the end of the 5 year term if you buy.

So, essentially, if you lease @ $205/month for 36 months you will have invested a total of $11,880 and have $0 in equity once you turn the car in.

If you buy at $270/month for 60 months you will have invested a total of $20,700 and have around $8200 in equity in your car remaining. However, the price of that $8,200 in equity has been the additional $8,820 you've paid over years 1 - 5. So, you've basically got $0 (or, really -$620) in equity at the end of the buying period as well.

What it really boils down to is how long you want to be tied to a particular car and, especially, if 12k/year is going to be enough for you. I always buy my cars because I don't want the mileage restrictions and, mostly, because I tend to keep cars for 8 - 9 years.

3,159If you feel the need to have a new car every few years, lease, or else you stand the chance of being in an inescapable negative equity situation if you finance, and get a new car every few years.

25011I was wondering if you knew what the current residual/money factor is on the 2006 Mazda 3 Grand Touring - 4 door. I am in the Maryland/DC area and am looking to do a 36 or 39 month lease at 12K miles/year. The MSRP of the model I'm interested in is 22,010 + destination charge of 550. The invoice is 20,620.

Thanks,

Ben

33,125I'm specifically interested in a Touring 5-speed with moonroof package and leather, which is also different from the advertised deal (Touring automatic).

I'd like a Grand Touring, but edmunds doesn't list that as having a lease deal. Is it true that there are no special offers on the GT?

'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

33,12524month 15K miles

Touring...64%

GT...62%

add 2 points for 12K miles year

add 3 points for 10.500 miles year

deduct 2 points for manual trans.

Money factor is .00102 for both. This is tier 0 or 1 which is the best rates.

$595 acquisition fee....can be built in or paid upfront.

program runs thru 5/31/06.

'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

1,986Sounds like a very good rate -

Mazda also wants a $2,000 down payment PLUS a $250 security deposit.

I worked (as the CFO) for a leasing company for 3 years - So I have looked at leasing a car many times -if I bought the car at the end it always ended up costing more - but that was back when interest rates were more like 12% - also back then most leases just required the first and last months payment and a security deposit - no $600 fees or $2K down payments. I always thought it was one of the advantages of a lease - no money down - but so many companies got burned by people walking away after only a year that the leasing company added a down payment. They always say its to lower your monthly payment - even when they are telling the truth they can also lie!

BTW = by costing more I don't mean just the monthly payment amount VS a loan - because if that is all you are looking at then the lease will (almost always) have a lower payment.

3,138Mazda also wants a $2,000 down paymentNot true. They don't require any down payment unless the buyers credit is lousy or the buyer wants to 'buy' a lower monthly payment. They often run ad's with down payments but its to hit a specific payment....not because it's required to get a lease.

1,986I have seen a 24 month lease with no money down and no payments for 23 months - leaving one payment in month 24 - but it was more common to have a one payment lease - all paid up front - this was used by people who had nice cars that were paid off so they had a bunch of equity - they could trade their 2 year old car in - lease a new car and pay next to nothing (sometimes they even got a check).

I have nothing against leasing - it can work out great - but you need to be very careful - educate yourself a little so you understand what the true cost will be - and if you don't understand everything then ask someone you trust that does. It is another chance for the dealership to do what they do best - which is - take more of your money.

833,125how many months is that? why are you trying to get out of your current lease? I ask this last question because it would seem to me that, if one lease did not work out for you, most likely another won't, either. (unless you've simply realized you need 4 doors or something like that)

'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

8May I ask a question? Taking into consideration the popularity of the car, what is a decent monthly payment I can expect to make with no down payment? (Taking my current lease out of the equation?)

33,125qbrozen, "Mazda3: Lease Questions" #34, 12 May 2006 11:14 am

you'll see the numbers for the 3 hatch (i'm not sure if this applies to the sedan, but I would not be surprised if it does since mazda is offering deals on those, too).

So let's say your MSRP is $22,810 and invoice is $21,148. I'd say $150 over invoice is doable, giving you a cap cost of $21,300. let's say you are looking for 15k miles per year, a stickshift, and we already know about the nav. Given all of this, I'm going to assign a residual value of 58% ($13,230).

I come up with $441.72 with zero down and including 6% tax.

This is about as bad as it gets. If you go with an automatic, that ups your residual. If you go with 12k miles per year, that ups your residual. If you go without NAV, that ups your residual.

So, here we have almost the $450 you were quoted, BUT its ONLY FOR 24 MONTHS. And, of course, ZERO DOWN. so paying $450 for 3 years with money down is pretty bad when compared to this 2 year deal.

8Perhaps the reason why my monthly was so high is because they were going to pay off the rest of the my lease. It's looking like they rolled the payoff amount into the lease (which does not depreciate), and I was basically paying that plus interest over the 3-year leasing period.

Thank you again for your time.

33,125Well, sure, they are rolling in the negative. That's the killer part, though. If you think about it, you are adding a year to the Mazda3 lease just to escape 6-7 months of your current lease. Not really worth it, IMHO. But, of course, you may feel differently.

Good luck.

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9Do you have any information on the money factor & residual for leasing a 2007 Mazda3 Grand Touring Hatchback? Specifically, I'm looking for information on a 24- or 36-month lease with 15,000 miles a year. I'm in Los Angeles. Thank you for your time.

201I'm trying to decide between the Mazda3 and a Chevy Cobalt. I test drove a Corolla but it was the worst car I have ever driven.

592I go in and the sales manager at the terminal say they have a Galaxy Gray with ABS and the price would be $300 over invoice. I ask out the door and he says about 18,700 something. So maybe around 18,800 with CA and 8.25% sales tax as out the door price for purchase.

For lease, he says it would be 70% residual for 2-year, 10.5k miles/year lease with .0033 MF. He figures on a drive off of $900 and 23 remaining payments of around $347 including tax. Disposition would be $350 or $375.

I didn't get the exact MSRP or selling price but I did get a printout. But looking at Carsdirect, the MSRP with just the ABS as option would be:

18,045

On the printout, the "GRS CAP COST" is $17658.

If that's the selling price, I don't see how the OTD price on a purchase would be $18,800.

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91Here's the deal I offered them:

2007 Mazda3 S Touring Manual

36 month lease @ 12,000/year

Cap Cost: $18,509 (invoice price)

Taxes & Fees: $2295

Due at signing: $3092.75

Money Factor: .004 (due to credit score of 630)

Residual: $11,513 (58%)

Monthly Payment: $200

When I calculate this out, that's the payment I come up with using a financial calculator. Am I doing the math wrong? Certainly I've tried to cut their profit as much as possible, but the dealership called me and told me they'd sell me the car at or below invoice, so there shouldn't be any problem using that invoice price as the cap cost. Unfortunately, they originally came out with some astronomical figure like $429 per month (this, after telling me that the pencils are sharp because it's the end of the month). Finally they let me walk out with their "best offer" on the table of $5000 down and $220 a month. Are they simply crazy or am I not adding something up right?

Basically I took the cap cost, added the fees of $2295, and came up with a total cost of $20,804. Subtract out the money due at signing (3092.75) and we're left with $17,712. Subtract the residual, and we have $6199, total amount financed. Amortize that over 36 months, at 10% interest (.004 money factor) and we're at exactly $200 per month. So why did these guys let me walk out the door while trying to take an extra $2000 out of my pocket at signing plus another $720 over the course of the lease?

Whose math is wrong, theirs, or mine?

Thanks in advance.

Chris Perosi