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

tarun168

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

Michaell

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%

tarun168

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

Michaell

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?

tarun168

It goes towards the final car payment for the msrp!

Michaell

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?

tarun168

Yes correct!

Michaell

tarun168 said:

Yes correct!

what is the selling price?

prk_rat

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 ?

kyfdx

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.

prk_rat

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

Michaell

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

prk_rat

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

Michaell

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.

prk_rat

Thank you Michaell for your inputs.

mazdaquery

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 ?

Michaell

mazdaquery said:

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.

mazdaquery

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 ?

Michaell

mazdaquery said:

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.

mazdaquery

Thanks a lot for your prompt response. I haven't gotten a final quote yet. I will update you once I finalise on one.

Focus11

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!

Michaell

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.

Focus11

Its for 36/12

kyfdx

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.