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Car Buying Advice - 2017 Mazda cx5 Lease GT AWD premium package

tarun168tarun168 Posts: 4
edited September 25 in Mazda
Hi all
I'm looking for leasing a 2017 Mazda cx5 GT AWD premium package. I got a deal for 1500down 350 per month payment in Charlotte NC on a 36 month 12k miles per year. The buy off price is 20300 after the lease end. 
Can anyone tell me if this is a good deal?
Thanks

Comments

  • MichaellMichaell ColoradoPosts: 63,458
    tarun168 said:

    Hi all
    I'm looking for leasing a 2017 Mazda cx5 GT AWD premium package. I got a deal for 1500down 350 per month payment in Charlotte NC on a 36 month 12k miles per year. The buy off price is 20300 after the lease end. 
    Can anyone tell me if this is a good deal?
    Thanks

    What is the MSRP and selling price?

    What does the $1500 down cover?

    .00001 and 59%

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  • tarun168tarun168 Posts: 4
    Thank you for the reply Michaell.
    MSRP is $34300.
    It covers the first payment.
  • MichaellMichaell ColoradoPosts: 63,458
    tarun168 said:

    Thank you for the reply Michaell.
    MSRP is $34300.
    It covers the first payment.

    The first payment, you said, is $350.

    What about the other $1150?

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  • tarun168tarun168 Posts: 4
    It goes towards the final car payment for the msrp!
  • MichaellMichaell ColoradoPosts: 63,458
    tarun168 said:

    It goes towards the final car payment for the msrp!

    I'm not sure I understand what you mean - is this considered a down payment to reduce the cap cost?

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  • MichaellMichaell ColoradoPosts: 63,458
    tarun168 said:

    Yes correct!

    what is the selling price?

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  • prk_ratprk_rat Posts: 4
    I am in CA. Looking for Mazda CX-5 Lease 2017 GT AWD.

    Got this Quote:
    MSRP: $ 33,465

    *$298.34 (Inc Tax)
    *$2,998 Down Payment
    *10,000 Miles Per Year

    Is this a good deal. Please advise.

    What could be the cost incurred for Wear and Tear Insurance ?

  • kyfdxkyfdx Posts: 68,398
    prk_rat said:

    I am in CA. Looking for Mazda CX-5 Lease 2017 GT AWD.

    Got this Quote:
    MSRP: $ 33,465

    *$298.34 (Inc Tax)
    *$2,998 Down Payment
    *10,000 Miles Per Year

    Is this a good deal. Please advise.

    What could be the cost incurred for Wear and Tear Insurance ?

    What is the term of the lease?
    What is the selling price and/or adjusted CAP cost?

    Wear and tear insurance is a high dealer profit item. The cost is whatever they say it is. We suggest avoiding it.

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  • prk_ratprk_rat Posts: 4
    Term is for 36 months - I dont have the adjusted cap cost - selling price is 30589
  • MichaellMichaell ColoradoPosts: 63,458
    prk_rat said:

    Term is for 36 months - I dont have the adjusted cap cost - selling price is 30589

    .00001 and 60% for 36/10

    With your prices, $292/mo before tax

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  • prk_ratprk_rat Posts: 4
    Thank you Michaell for the reply.
    Is this a good deal or should I need to take care of anything else? Please advise
  • MichaellMichaell ColoradoPosts: 63,458
    prk_rat said:

    Thank you Michaell for the reply.
    Is this a good deal or should I need to take care of anything else? Please advise

    If you're comfortable with the discount from sticker, all looks good. Make sure they don't spring any last minute charges or fees on you.

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  • prk_ratprk_rat Posts: 4
    Thank you Michaell for your inputs.
  • Hi, I am looking for Mazda CX5 Touring, 2.5L 4 cyls, FWD, automatic, 5 miles, Deep Crystal Blue Mica.
    Silk Beige w/Leatherette Seat Trim. This is the quote I got : 36 months , 12k miles per year, $322.23 inc tax.
    MSRP is $26,855 adjusted cap cost is $24,950.62 using only rebates to cover your drive off fees. There is $890 of customer lease cash and an additional $750 of loyalty applied as well as a $1669 dealer discount. This leaves a residual value of $15,038.80 and I'm using a lease money factor of 0.00051 to arrive at the payment.

    Zip code : 95054. Is this a good deal ? Could you please let me know what else I could be looking at ?
  • MichaellMichaell ColoradoPosts: 63,458

    Hi, I am looking for Mazda CX5 Touring, 2.5L 4 cyls, FWD, automatic, 5 miles, Deep Crystal Blue Mica.
    Silk Beige w/Leatherette Seat Trim. This is the quote I got : 36 months , 12k miles per year, $322.23 inc tax.
    MSRP is $26,855 adjusted cap cost is $24,950.62 using only rebates to cover your drive off fees. There is $890 of customer lease cash and an additional $750 of loyalty applied as well as a $1669 dealer discount. This leaves a residual value of $15,038.80 and I'm using a lease money factor of 0.00051 to arrive at the payment.

    Zip code : 95054. Is this a good deal ? Could you please let me know what else I could be looking at ?

    Not a good deal - the base MF is .00001, this month. The markup is adding over $20/mo to your payment.

    Politely tell them you won't sign a deal with an inflated MF.

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  • Thank you so much for your prompt response !! What is the residual value for the mazda cx5 touring ? Are you aware of any rebates year end discounts from the company ? Would I be eligible for both Customer Cash - Customer Bonus Cash for Retail 1250 and Customer Cash - Limited Term Bonus Cash 890
    ( From : https://www.edmunds.com/mazda/cx-5/2017/st-401707112/deals/ ).

    If they reduce the money factor, do the other figures look correct ?
  • MichaellMichaell ColoradoPosts: 63,458

    Thank you so much for your prompt response !! What is the residual value for the mazda cx5 touring ? Are you aware of any rebates year end discounts from the company ? Would I be eligible for both Customer Cash - Customer Bonus Cash for Retail 1250 and Customer Cash - Limited Term Bonus Cash 890
    ( From : https://www.edmunds.com/mazda/cx-5/2017/st-401707112/deals/ ).

    If they reduce the money factor, do the other figures look correct ?

    56% for 36/12

    Only the $890 is valid for the lease.

    Everything else looks good.

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  • Thanks a lot for your prompt response. I haven't gotten a final quote yet. I will update you once I finalise on one.
  • Focus11Focus11 Posts: 2
    Hi there
    Deal for CX5 GT AWD in Stroudsburg PA
    MSRP 33465
    Discount 2276
    Vehicle pr. 31189
    DMV 136.55
    Doc fee 138
    Tax 1777.34
    Due 33238.89
    Trade in 1600
    Out of poc. 1000
    Monthly 336
    Miles 12000
    Residual $18740.40
    Is this any good? No mention of any rebates!
  • MichaellMichaell ColoradoPosts: 63,458
    Focus11 said:

    Hi there
    Deal for CX5 GT AWD in Stroudsburg PA
    MSRP 33465
    Discount 2276
    Vehicle pr. 31189
    DMV 136.55
    Doc fee 138
    Tax 1777.34
    Due 33238.89
    Trade in 1600
    Out of poc. 1000
    Monthly 336
    Miles 12000
    Residual $18740.40
    Is this any good? No mention of any rebates!

    What lease term and how many miles per year?

    We suggest you not use trade equity as cap reduction - have the dealer cut you a check, instead.

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  • kyfdxkyfdx Posts: 68,398
    Focus11 said:

    Its for 36/12

    .00001 MF and 56% residual
    $890 lease cash

    Tax isn't added on to a lease in PA. They tax the payment monthly. Ask for the numbers that are specific to the lease quote, not a purchase. You want to know money factor and adjusted CAP cost, and how the adjusted CAP cost is calculated.

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