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Mazda6 Lease Questions

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  • dolsey01dolsey01 Member Posts: 92
    I was in a Boston area Mazda dealer today and they had no problem getting in the higher threes 380-390 for a S Grand Touring with a MSRP over 31K with only drive off fees down (1K) or a 36M12K lease. Nice car but BAD dealership. Anyhow, you should be able to do a bit better.
  • stoopystoopy Member Posts: 105
    $1,000 of fees paid upfront are going to lower your payment by $25+ a month. The offer mentioned was ZERO down. I don't think it's possible to get better than $390 a month with out putting money out of pocket.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jvost. Mazda's new February buy rate lease money factor for a 36 month lease of any 2009 Mazda6i is .00013. This is about as close to zero percent interest as one can get on a lease. I believe that the residual value that you posted is correct.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chuck68516. I don't believe that the $850 lease cash is available on the '09 Mazda6 any longer anyhow. Mazda's current buy rate lease money factor for a 36 month lease of any '09 Mazda6i is an amazingly low .00013.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Mazda6, jodony1. Thanks for taking the time to break down your deal for everyone. If you have the time, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com as well to share your thoughts on your dealer experience. Enjoy your new ride :) !

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  • jodony1jodony1 Member Posts: 19
    I just want to clarify my $2300 payment I made on signing (see post 204). It was NOT a down payment but a collection of taxes and fees, as follows:

    First month $334.37
    DMV plus doc fee $125
    Acquisition fee $595
    NY tire tax $12.50
    NYS Inspection $10.00
    Cap reduction tax = taxes on rebate and loyalty = 7.375% of $1850 = $136
    Monthly use tax = 36*334.37*7.375% = 887.50
    Taxes on bank fee $44.00

    Like others I would advise against a down payment on a lease. The car is a blast. :D
  • indianajohnsindianajohns Member Posts: 89
    It doesn't matter if you paid a $2300 security deposit. The point is you put money down on a lease. No matter what that money went towards you are still out $2300. If your vehicle is stolen or totalled in an accident you will never see a dime of that money. Not to mention that putting down money on a lease completely defeats the purpose of leasing. If you are putting down over $2K you might as well just buy it.

    PS: If you are paying cap reduction tax you made a cash down payment or traded in a car. The dealer just confused you, hiding it in the lease contract. You don't pay taxes on rebates, ask any dealer, (except the dealer you leased through).
  • jodony1jodony1 Member Posts: 19
    Hi indianjohns, you must be a tough cookie to sell (or lease) a car to... :-) I take your point about the money upfront - of course you can put all your cash into the monthly payments but that's a matter of choice too. I for one do not want to put everything into higher monthly payments.

    Now as for your cap reduction tax: either I was dumb to pay the $136 tax or the dealer has acted against the law - claiming to charge a tax in writing to me while according to your claim it is not a tax. That would be illegal. Moreover a cursory search at these forums reveals there are many others who have paid this tax in the past..... car_man, can you advise? or do I call a lawyer? :confuse:
  • chuck68516chuck68516 Member Posts: 195
    My thoughts are if you paid your acquisition fee and taxes that could definitely be considered Cap Cost Reduction since they are normally included in the lease. Not 100% on that though. I hope you figure it out. I also would not recommend putting down any money on a lease. Sign and drive. At most pay 1st payment at signing.

    I did have a Ford lease where they pulled a fast one on me and added in WearCare (security deposti) without telling me it was optional. As soon as I got home and reviewed the paperwork I called the General Manager and told him I wanted my money back or I was going to complain to Ford. They sent me a check in the mail the next day. I hope you find a similar outcome.
  • soupconsoupcon Member Posts: 25
    i'm wondering if anyone knows what the march lease rates (residual/money factor) on the mazda 6 grand touring model is (36mo/15k).

    thanks in advance....
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi soupcon. Here's the information that you're looking for. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Mazda6 Grand Touring Sedan with 15,000 miles per year are .00033 and 43%, respectively. This program varies by region. Since you never mentioned what state you are in, I provided you with the info for what I believe is the most widely available program.

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  • deegedeege Member Posts: 54
    Car_man,

    Could you please advise the residuals and money factors for a Mazda6 i Touring for both 24 and 36 months and 15k miles in the Northeast/NY area? Also, would auto vs. shift it yourself have any impact on the R/MF? Thanks much for your help.
  • soupconsoupcon Member Posts: 25
    hey car man!
    thanks so much. i'm in CA, so let me know if that changes anything. much appreciated!!!

    oh and i assume 12k/year would be a bump of 2% on the residual like so many others?
  • manosteelemanosteele Member Posts: 1
    indianajohns is correct to a point. However, rebate money is ALWAYS taxed by every manufacturer. Customer cash or dealer cash isn't taxed. It all depends on how the incentive is worded. If it says rebate, it's taxed. There's nothing wrong with covering your taxes in a lease. Cap cost reductions, on the other hand, make no financial sense
  • deegedeege Member Posts: 54
    Hey Car_man,

    Could you please advise the residuals and money factors for a Mazda6 i Touring for both 24 and 36 months and 15k miles in the Northeast/NY area for the month of April? Also, would auto vs. stick have any impact on the R/MF?

    Thanks,
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi deege. Mazda's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Mazda6i Touring with an automatic transmission and 15,000 miles per year are .00083 and 53%, respectively. The numbers for an otherwise identical 36 month lease are .00033 and 47%.

    Going with a manual transmission would not have any impact upon this car's money factors, but it would drop its residual values by 1%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, soupcon, the 12,000 mile per year residual values are 2% higher than the 15,000 mile per year residuals.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi deege. I just replied to your earlier request for this information in post #223. Good luck and make sure to let us know how everything turns out or if you have any other questions.

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  • slonobusslonobus Member Posts: 1
    does anybody know the residual value and money factor
    for this model in NJ
    36 months, 10K miles per year
  • brerjeffbrerjeff Member Posts: 6
    ">I have a relative with access to the S-Plan, he said there is info on the site mazdausa.com/splan about a 24 month lease for $189/mo on a Mazda 6 but I don;t see it probably because I don't have a login. Anyone have the scoop on what model that is and all the other details about this offer? I live in Orlando, FL. Thanks! :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi slonobus. Here's the info that you're looking for. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Mazda6i Sport Sedan with an automatic transmission and 10,000 miles per year are .00033 and 50%, respectively.

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  • ineed2knowineed2know Member Posts: 4
    Hello Carman,

    I need to know the MF and residual for 48 months lease for both 12k and 15k. I am looking to lease the car asap. And is there any cash rebate or any rebate of such kind. I am in NYC area but willing to travel into parts of NJ.

    Thanks.
  • drdjdesidrdjdesi Member Posts: 1
    Im glad I found this forum, lots of great info!!

    I need the MF and residual value, 36 months, 12 miles per year. Im located in Tampa Fl. Any extra advice regarding incentives are appreciated. Lastly, is putting money down an absolute no no?
    Last deal I was "quoted" was 450 a month, 2500 down. Is that any good?
  • icy507icy507 Member Posts: 1
    Hi Car_man;
    Whats the money factor and residual on 6i Sport for 24 and 36 mths with 15k miles?
    How can I calculate the monthly payments on a zero down lease with that info?
    I got an internet quote for $17584 which seems pretty good.
    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ineed2know. Mazda's current buy rate lease money factor and residual value for a 48 month lease of a 2009 Mazda6i Grand Touring Sedan with 15,000 miles per year are .00250 and an atrocious 35%, respectively. If you were to lease with only 12,000 miles per year this car's residual value would be 2% higher.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome drdjdesi. I'm glad that you find the information that's available here so helpful. Here's the info that you're looking for. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Mazda6 i Grand Touring Sedan with 12,000 miles per year are .00034 and 45%, respectively.

    Mazda is currently providing an $850 cash incentive on leases of this car in select regions.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, icy507. Mazda's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Mazda61 Sport Sedan with 15,000 miles per year are .00083 and 53%, respectively. The numbers for an otherwise identical 36 month lease are .00034 and 47%.

    You can use the forumla that is outlined in the following article to calculate a lease payment using the above information, this car's MSRP, and its selling price: Calculate Your Own Lease Payment.

    Car_man
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  • billsbuddiebillsbuddie Member Posts: 41
    Hi, I am looking at an 09 Mazda 6i Touring with the Convenience Pkg and a total sticker of $25030. I currently own a Mazda and am eligible for an additional $1000 discount. I offered $20,500 and was countered with a price of $21,000.
    I want to use the lease special that Mazda is offering on the 6 but I do not know the numbers for Money Factor and Residual. I live in the Midwest Region. Please share the appropriate numbers so that I can make sure I get the best deal, thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi billsbuddie. Here's the information on this car's current lease program that you're looking for. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Mazda6 i Touring with 15,000 miles per year are .00034 and 46%, respectively.

    You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

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  • billsbuddiebillsbuddie Member Posts: 41
    You made the correct assumptions, Car_man, thanks for your help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hooray, I win. You're very welcome billsbuddie.

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  • gauravgarggauravgarg Member Posts: 3
    I am looking to lease a 6i Auto w/ moonroof package. Please let me know the Gross Capitalized Cost and Money Factor for a 36 month, 10K miles/year lease.
  • gauravgarggauravgarg Member Posts: 3
    car_man, do you know the residual value and money factor for this lease?
  • gauravgarggauravgarg Member Posts: 3
    I leased a 6i Automatic Grand Touring with Moonroof/Bose package (black on black leather) for 36 months, 10,000 miles/year. Monthly payment $289 and a trade-in valued at $2750. I was also eligible for Owner Loyalty discount. The dealer is in central NJ. Any idea how the deal is? It's a little too late now but just wanted to check. :-)

    During the signing of the papers, the dealer sneaked in a $300 fee from Chase to be paid at the end of the lease. I think it was called 'disposition fee'. Is this legit?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow that was quick, gauravgarg. I was about to fill you in on the information that were looking for and you pulled the trigger. Congrats on getting your new Mazda6. Disposition fees are an annoying, yet legitimate part of leasing. Most banks charge them on leased vehicles and $300 is an average fee. Few things are more annoying than having to pay money to give your car back :sick: , but that's how leasing works.

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  • rocketman27rocketman27 Member Posts: 7
    Car_man, what are the current numbers for a 6 i GTA w/moonroof; 15K/yr; for 24mo & 36mo?

    I'm in the midwest and have numbers from a dealer leased thru Chase:
    MSRP: $28,240
    Dealer discount: $520 (terrible)
    Mazda Cash rebate: $2,500 (great!)
    MF: .00112 (24) .00051 (36)
    Residual: 47% (24) 42% (36) (these aren't very good)
    Acq Fee: $595 + Disp Fee $150 if paid up front; or $300 on back end

    Are the Mazda numbers better than these?
    Thx!
  • mystamimystami Member Posts: 3
    Hi, I am trying to lease a 2009 Mazda6 i touring with convenience package and remote engine start. I'm looking to put down $3750 and pay no more than $229/month. I want to lease for 36 months with 10,000 miles per year. I live in PA. I'm currently in negotiations with a local dealership for an i sport with remote engine start with the exact same pricing. My question is, do you think it's possible for me to get the i touring I want at this price?

    Thanks in advance!
  • mystamimystami Member Posts: 3
    I also should add that I'm looking to lease within the next 2 weeks and the $1,500 rebate I'm getting is over on Friday. Do you think next month's deals will be better since the 2010s are finally hitting the lots? Is it worth it for me to wait? Also, my credit is decent but not great, about 650-660. This is part of the reason I'm putting so much down, that and significant student loan debt.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings rocketman27. Mazda no longer operates its own captive finance company. It runs all of its special leases through Chase.

    Chase's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Mazda6i GT with an automatic transmission and 15,000 miles per year are .00112 and 49%, respectively. The numbers for an otherwise identical 36 month lease are .00051 and 44%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mystami. I see that you are considering putting $3,750 down on your lease. I personally always advise consumers to put as little money as possible down when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your car's monthly payment will be a little higher, it is much safer to go with a zero down lease.

    It is difficult for me to say off of the top of my head whether the payment that you want is attainable. I would be happy to work up a sample lease payment on the exact model that you are considering for you if you provide me with its full MSRP and its dealer invoice price. You can find both of these numbers over in the New Vehicle Pricing section of this site. Let me know what they are and I'll crunch some numbers for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey mystami. Mazda's special lease program for this model varies by region. It did increase the cash incentives that it is providing on this car for the month of August in certain regions, such as the Northeast and Western. If you let me know what state you are in, I should be able to provide you with an accurate picture of what this vehicle's incentives are like in your area right now.

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  • mystamimystami Member Posts: 3
    Hi Car man, thanks for your response. I ended up getting a 2009 i GT with the moonroof/Bose package. I put down the $3750 and am paying $259/mo for 42 months. The dealer got new incentives 3 days before I got it.MSRP was $28,480 with $3210 in incentives. It hurt to do the large down payment, but I'm in love with this car, so I'm not going to complain about it. Plus, once my student loans kick in, the lower monthly payment will work better for me. Thanks again!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, mystami. Thanks for letting us all know how everything turned out. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to tell everyone about your recent dealer experience as well.

    Enjoy your new ride!

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  • raghavrraghavr Member Posts: 2
    Do we have to replace the tire with the exact same brand when returning the car back to the dealer?

    For eg: My car has the Michelin pilot tires on them and i need to replace one of them. Should I buy a new michelin tire or can buy bridgestone etc?
  • rj123456rj123456 Member Posts: 140
    Bay Area mazda dealers are offering $7,000 MSRP on the remaining 2009 Mazda6 inventory...can they refuse to provide this for a lease?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi raghavr. You'll have to check with Mazda Credit (I assume that's who you leased your 6 through) to see what their exact policy is on this matter. Many banks that lease vehicles do not require that they be returned with the same brand of tires, but that the tires at least match. If you're only replacing one then you might want to match it to the others. Perhaps you can find a used matching tire that still has enough tread left on it to appease the bank.

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  • rj123456rj123456 Member Posts: 140
    Car Man:

    Saw this promo on Mazda's site, any idea what the money factor and residuals they are assuming here?

    Any one know what the promo would be for a Grand Touring if at all it is applicable?
  • ajpbf7ajpbf7 Member Posts: 91
    Hello Carman,

    Can you please post the MF and Residual for the 2010 Mazda 6i Touring Automatic? This would be for 10k per yr and 36 months. Thank You.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rj123456. I am familiar with the advertised lease payment that you mentioned. I believe that Mazda is using a money factor of .00123 and a residual value of 57% to arrive at it.

    Mazda is providing lease support on the Grand Touring model as well. Its money factor would be exactly the same, but its 36 month, 12,000 mile per year residual value would be 54%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello ajpbf7. Mazda's October buy rate lease money factor and residual value for a 36 month lease of a 2010 Mazda6i Touring with an automatic transmission and 10,000 miles per year are .00123 and 59%, respectively.

    When negotiating your lease on this car, make sure to take advantage of the $500 cash incentive that is available on leases of it.

    Car_man
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