I'm planning to lease a 2008 Mazda CX9 Touring with no extras (naviagtion, bose system, moonroof, etc).
The prices that I have are:
MSRP: $32,550 which includes $635 for destination charge or transport charge
The negotiated price is $30,386 (the dealer told me it is invoice price)
I'm looking for a lease with 10,500 miles per year. Can you please give me the Money Factor and Residual Value for 24 and 36 months? with $0 down, which would be the monthly payments?
Is the negotiated price good?
Can you please assist me with some numbers and advise?
Folks I got the deal of $37,600 for the care with following specs 2008 CX9 GT AWD GT Assit Package Moonroof/Bose Towing Package BLind Spot Monitoring Compass/Auto Dim Mirror With Homelink Roof Rails Remote Engine Start All Weather Carpet Mats
Retail MSRP was 41325 Invoice was $38,237 Selling to me for $37,600 which is $637 below invoice and I getting the 0% APR for 36 months on the CAR in Danbury, CT.
I'm in the market for a 2008 CX-9 AWD (2 year lease with 15,000 miles/year) and am very flexible as to options and colors. The only option I really want is a sunroof. Being in northern Ohio, I need the AWD. I qualify for Ford/Mazda's supplier discuount. Here's 2 offers they made to me. From the other postings, this seems to be at best average deals. Do you agree and do you have any other words of wisdom?
All taxes are included. In both cases the total out-of-pocket cash required is $725. This is apparently called "first and fees" so it includes the first lease payment.
Vehicle #1 2008 Mazda CX-9 Touring AWD Galaxy Gray / Black Leather MSRP $35960 S-Plan Selling Price (Invoice) $33422 Optional equipment: All weather mats, Moonroof/Bose, and Towing package $489 per month
Vehicle #2 2008 Mazda CX-9 Grand Touring AWD Liquid Platinum / Black Leather MSRP $37585 S-Plan Selling Price (Invoice) $34912 Optional equipment: Compass/autodim mirror w/homelink, Moonroof/Bose, wheel locks, and roof rails $515 per month
Hi. I am looking for a CX-9 in NJ, but have not yet talked price with anyone. Those numbers seem high to me. Based on info I've seen, the residual should be 62% and the money factor should be .00079 or 1.896%. Including 7% sales tax your lease should be around $320 a month. Also keep in mind that Mazda is offering $750 lease cash. Looking at vehicle 1, a lease rate of $489 equals a selling price of over $36,400.
Let us know how you make out. Like I said, I am in the market and hope to pull the trigger in about a month.
I'm also looking but akcijas's lease pymt numbers are more consistent with what I've been quoted for a similar package. 62% Residual seems high as well. Is that accurate?
Your alternate calc of $320/mth seems very low. Are you assuming any money down?
I have an offer on a CX-9 GT AWD and any feedback is greatly appreciated.
MSRP 38,645 OTD 37,009.90 (including 655.00 down, 1245.98 taxes and 195.50 Government fee) Initial payment is 1,405( -750.00 rebate=655.00 down, included the 655.00 in the 37,009.90.)
Hi. Would you mind posting the latest money factor and residual for a Mazda CX-9 AWD Touring 24 month 10,500 k and 12k per year lease. I plan on leasing within a month. Thanks for your help!
There's probably a few things missing in your calculations which is why the dealer quote for piloti_sti is higher - namely D&H fee and lease acquisition fee, which together are probably close to $1k. These fees make a big impact on lease payment as they are not residualized.
The price of $28566 was after all rebates and discounts according to the e-mail, do you really think I could get it for $27816? That is several thousand under invoice I believe. Would be great though. I will e-mail and ask why there is such a huge difference in payments.
I thought the 28566 was before the lease cash. The rule of thumb that I have been using is getting the car about $3000 below msrp minus the $750 lease cash. I think your price is really good. I recalced the numbers using 28566 and came up with $371.03. If the dealer is including other costs (bank fees, registration, etc) that could explain the price differential that I am calculating.
I just received a call from the salesman. He said that the the S plan is the lowest they can go for non-employees, and he already included the $ 750 discount in my total discount/rebate is $ 1,750.
So he's holding firm - for now. The good news is that there is another Mazda dealer not far, and I'm not opposed to getting an Acadia either.
I also asked about Sirrius radio. He thought that would add about $ 25 a month to the lease, which sounds high. He was unaware of any problems/conflicts between Sirrius and Bluetooth, which is in another thread.
Guess it depends - can you afford $30+k at 36 months? I can't, mine would have been $880 a month, vs $440 for the lease. The current lease rate of .00132 is about 3.17%, much better rate than say a 60 month purchase.
I am days from buying a CX-9 and the best rebates on an S plan I can get is $500+$750=$1,250. Can you tell me what you rebates are for so that I can see if I can track them down and get them as well.
I just signed the lease for a Platinum 2008 CX-9 AWD, 15,000 miles/yr, with the moonroof/Bose, compass/autodimming mirror/Homelink, Blindspot monitor, and the i-Pod kit. I also received $ 2,500 on a trade, which applies towards the price and the first payment. I received a 27 month lease (no, that's not a typo. For no apparent reason, the 27 month lease is less than either a 24 or 36 month lease.) The lease payment is $457.02 and starts with the 2nd payment. MSRP is $ 37,525 not including the i-Pod kit.
I just leased a 2008 CX-9 Grand Touring in NJ today and this is the deal I got.
Paid $500.58 per month for 36 mos with 12,000 miles per year.
Total out of pocket $2000.00 (includes 1st month lease, etc.
MSRP $40,560.00
Options included are: 2PA Grand Touring Assistance Package 1MC Moonroof and Bose Audio Package 1RV Back Up Camera w/Auto-Dimming Mirror Display 1TP Towing Package RCK Roof Rails
I am also in Northern Ohio and working on a deal with an 'S' plan. Feel free to email me directly. I would love to know who you are dealing with and rates and other detail. Car #2 is identical to my request except I wanted the Blind Spot. We should work together to push the dealers to a better deal.
Below is the info off the lease agreement. The Money factor is not identified in the lease.
It’s my understanding that I cannot post the dealer’s name or the salesman’s name. If you let me know your e-mail address, I’ll be glad to forward that info to you.
MSRP is $ 37,525 not including the i-Pod kit.
Amount due at lease signing 3,250.00 (2,500 trade in + 750 rebate)
Agreed upon value 34,654.78 Sales Tax 724.34 Acquisition Fee 595.00 Gross capitalized cost 35,974.12
Capitalized cost reduction 2,394.97 First month payment 457.02 Title Fees 85.50 Doc Fee 250.00 Tax on Doc Fee 15.63 Cap Reduct Tax New 46.88 Total 3,250.00
Net Trade In allowance 2,500.00 Rebates 750.00 Total 3,250.00
Do you guys know if mazda includes dealer added options, like sirius and homelink into the residualization calculation? They were left out of the msrp price and residual price of my lease. Thanks
I was quoted on a Mazda CX9 AWD Sport 12K with a back-up camera in the rear-view mirror, remote start, keyless entry and power driver seat $445 per month with tax paid up front, but no actual down payment. Does that sound like a good deal?
Any dealer installed option is not residualized. The residual value of the car after a certain period is detemined by it's VIN number and considers only the factory installed options that were on the sticker.
Basically, I am paying upfront on the following items: Acquisition Fee: 595 Chrome Wheels: 550
Inception Fees: 1st Month: 488.55 License: 295 CA Tire Fee: 8.75 Electronic Filing Fee: 28.00 Cap Reduction Tax: 153.51 Total = 973.81
+ Customer Cash as Cap Reduction = 1230.72 = Total Drive Off = 2204.72
Credits as: Customer Cash as Drive Off: 973.81 Customer Cash as Cap Reduction: 1230.72 (chrome wheels and acquisition fee are included in this number and additional 85.72 is here due to refactoring the my previous deal and funds that had already been cashed in by the dealer in my previous "botched" contract) Rebate as Cap Reduction: 750.00
Hi, I'm looking to lease a cx9 touring awd in the wayne,morristown,union New Jersey area and anywhere close to these towns. i drive alot and probably would be better off buying but don't really want to put money down..so hence the lease. anyone know a dealer that gives a great deal and what can I expect to pay for a lease for 18k year and just inception fees..(by the way what are the extra fees I should be asking about?) i'm shopping on my own and don't know alot about getting the best deal.. i always feel like i'm being ripped off. i know they had a good deal on a 27 month lease but i think that is gone since jan.2. also does it make sense to turn in my car a month early (I'm over by 15,000 miles yikes!) I know..i should probably buy...talk me into buying and maybe i will... though if i buy. i'm thinking i should go for a hybrid..who knows where gas will be in 5 years! LL HELP! thanks
A few things I did was use the lease versus buy calculators to help you better understand the two scenarios. Here's one.
Also call a few dealers around and ask to speak with the finance manager and ask what money factors and residuals values they can offer at their dealership (typically two scenarios - the captive bank (Mazda Acceptance Corporation) or one of their "local" banks lease plans)
It's also a good idea to know your credit score and report EVEN if you think you have paid all of your bills on time. There are times when the lenders will mistakenly report negatively.
Lastly, all the "invoice" prices have some buffer. So let's think this through...
MSRP - never pay this even if the car is considered "hot and awesome" or SUV of the Year...
Invoice - I consider this a no-go as well. There are always some manufacturer-to-dealer funds that you can tap into.
Consumer Report's Bottom Line or Edmunds TMV - these numbers are slightly inflated as well.
My Price - I know I have hit a nerve when the dealer doesn't care to see me leave. Or if they call security to show the "crazy person with an unreasonable number" the door. That's where I like to start from. DON'T BE AFRAID TO WALK AWAY. The car will be there tomorrow.
Setting the lowest price versus the MSRP impacts the bottom line lease payment. And always ask them to throw in things for free... I am getting cargo mat, cargo net, and all-weather mats for $0.
For example, in addition to the freebies - the offer I am looking at for leasing started with MSRP at 39300, the dealer's invoice was 36175, and we ultimately are looking at a negotiated price of 35000.
Moral of the story - if you NEVER ASK, the answer is ALWAYS NO.
sdecelle, I have a few questions: 1. How many miles and for how many months is the lease contract? 2. Were the roof rails, wheel locks, and backup camera package installed by the manufacturer - in other words, are those items found on the manufacturer's sticker price printout? 3. Does the CAP COST reflect the FINAL sales price that you negotiated from the MSRP? Or are there other items in the CAP COST (ie. dealer installed items like all-weather mats)
Car shopping can be fun - it's the negotiations that can be intimidating.
By the sounds of it, you already took delivery of the vehicle - correct? As for the black cherry/sand interior, excellent taste! That's what we acquired as well!
mw4, 1. Have you already taken delivery of the vehicle? 2. How many miles have you negotiated for the lease? 3. What is the residual value and the money factor you were offered? 4. Is the 1403.02 simply upfront sales tax, or does it include the registration fee, as well as the acquisition fee (typically, $595 with Mazda Acceptance Corp.)? Maybe a good idea what makes up that 1403.02 cost. 5. Can you itemize your cap cost reduction items?
Can't render any thoughts without these answers. That's if you were soliciting my opinion.
Where did you get this deal? I'm interested in pretty much the same exact model just different color. Any contact information you can give so I can give them a jingle myself?
Thank you for the education. I have a couple other questions. what is the cap cost reduction? Do dealers offer rebates always which I saw with yours? Do i always have to pay an acquisition fee even if the car is on the lot? or is that the destination charge? where do i find the invoice number for the car i want ? Do i go in and say i'm buying it vs. leasing first so we decide on a price first? invoice or below? Then say i want to lease? what are hidden costs? thanks so much! LL
lexus350, I went to the only dealership in Irvine. I would recommend that you speak with the sales manager. Like many other dealerships, the best time to buy is towards the end of the month. Hope this helps.
It's always good to ask about what rebates are available in either a lease or purchase.
The acquisition fee is typically the fee for the leasing/finance bank to "acquire" the vehicle from the dealership. You are typically obligated to pay for this or have it calculated into the cap cost. Heck, I suppose you can always ask to see if they would be willing to pay the acquisition fee. Most of the time the dealer may say "no"; then you can ask if they would be willing to pay for a portion of the acquisition fee and again you MAY get a "No" answer. Again the point is to always ask. This goes for any other fees, yes, even the license fee that you pay to the state. Same philosophy goes for the "destination charge".
You can find the "invoice price" on Edmunds or Consumer Reports (new car buying guide/report, typically $12/car). I found the CR numbers to be pretty close to the dealer invoice (maybe a difference within a $100). I would negotiate below the bottom line prices that either of these resources give as a starting point.
Setting the price should be set regardless of lease or purchase. I go in saying that I would consider all options and that setting the price has nothing to do with whether I buy all-cash, finance to own, or lease to borrow. Typically, setting the price with the dealer FIRST. Once the best price is set, then you start to talk numbers regarding financing or leasing.
For either leasing or financing, you can ask up front BEFORE they run your credit, for tier-0 (best credit), tier-1 (good credit), tier-2 (some blemishes on your credit). You can even ask this information over the phone BEFORE you even go to any dealer. - different dealers MAY have different rates. Just ask to speak with the finance manager and they should be able to give you all the pertinent data points. What are those data points???
For financing, "What are the interest rates for tier-0, 1 and 2?" and "Any additional incentives for purchasing a FWD CX-9???"
For leasing, "What are your money factors (lease equivalent of an interest rate) for tier-0, 1, and 2?" and "Any additional incentives in leasing a FWD CX-9?"
Heck, if you ask these questions and set your bottom line price, you can determine whether or not you can afford the vehicle BEFORE you even set foot into the dealership...
Hidden costs can vary. Some hidden costs I find are the over-priced dealer add-ons. I really like chrome wheels on the CX-9. They were asking $1250 for chrome, they came down to $550. On their computerized deal sheet, have them explain to you each and every line item so you know exactly where each dollar you are giving them is truly going towards. I spent about 20 minutes just walking down the deal sheet so that I don't leave not feeling like I spent money on some line item that I have no idea of what it truly is.
wow, thats a great deal!!! i yust came back from a mazda dealer in tustin california and the lowest they would go was $455 plus tax, 15000 miles, 36 months, total cash down was $3000.00!!! msrp was $39,500.00 Could you email me the location of were you deal was. i might try to get this dealer to match it.... my email is ejrn@hotmail.com thank erick
Comments
The prices that I have are:
MSRP: $32,550 which includes $635 for destination charge or transport charge
The negotiated price is $30,386 (the dealer told me it is invoice price)
I'm looking for a lease with 10,500 miles per year. Can you please give me the Money Factor and Residual Value for 24 and 36 months? with $0 down, which would be the monthly payments?
Is the negotiated price good?
Can you please assist me with some numbers and advise?
Await your news. Thanks and best regards.
2008 CX9 GT AWD
GT Assit Package
Moonroof/Bose
Towing Package
BLind Spot Monitoring
Compass/Auto Dim Mirror With Homelink
Roof Rails
Remote Engine Start
All Weather Carpet Mats
Retail MSRP was 41325
Invoice was $38,237
Selling to me for $37,600 which is $637 below invoice and I getting the 0% APR for 36 months on the CAR in Danbury, CT.
Is this a good deal, please get back.
thx
sanjay
MSRP $33,800
Purchase price $30,732
12k miles a year
$0 down, 36 payments of $440 + tax
All taxes are included. In both cases the total out-of-pocket cash required is $725. This is apparently called "first and fees" so it includes the first lease payment.
Vehicle #1
2008 Mazda CX-9 Touring AWD
Galaxy Gray / Black Leather
MSRP $35960
S-Plan Selling Price (Invoice) $33422
Optional equipment: All weather mats, Moonroof/Bose, and Towing package
$489 per month
Vehicle #2
2008 Mazda CX-9 Grand Touring AWD
Liquid Platinum / Black Leather
MSRP $37585
S-Plan Selling Price (Invoice) $34912
Optional equipment: Compass/autodim mirror w/homelink, Moonroof/Bose,
wheel locks, and roof rails
$515 per month
Thanks for any thoughts and comments.
Let us know how you make out. Like I said, I am in the market and hope to pull the trigger in about a month.
Your alternate calc of $320/mth seems very low. Are you assuming any money down?
MSRP 38,645
OTD 37,009.90 (including 655.00 down, 1245.98 taxes and 195.50 Government fee)
Initial payment is 1,405( -750.00 rebate=655.00 down, included the 655.00 in the 37,009.90.)
GT AWD, moon roof & bose package, remote starter, cargo cover, wheel locks, all-weather mats and bsm system.
15,000 36 month lease
.00132 money factor
52% residual
Monthly payment 527.60
CX-9 Sport Options-Crystal White, Bose/moonroof/Power Seats
MSRP:$32,355.00
Selling Price: $28,566.00
MF-.00132
Residual- 52%
$705 Down
$445.94 per month + tax 7%= 477.15
Thanks
MSRP 35,960
Selling Price 32,672 (33422-750 MAC cash)
Residual 62% 15kmiles/year (35960x.62=$22,295.20)
Tax 7% 726.38
money factor .00079
Depreciation 32,672+726.38-22,295.20=11,103.18/24=$462.63
Interest (32672+726.38+22295.20)x.00079=$44
Total=$506.63
These were the latest rates I could find, which were Oct '07. I'll ask Carman for the Dec '07 rates.
Sorry for the confusion.
Hi. Would you mind posting the latest money factor and residual for a Mazda CX-9 AWD Touring 24 month 10,500 k and 12k per year lease. I plan on leasing within a month. Thanks for your help!
MSRP 32,355
Selling Price 27,816 (28566-750 MAC cash)
Residual 54% 12kmiles/year (32355x.54=$17,471.70)
Tax 7% 724.10
money factor .00132
Depreciation 27816+724.10-705-17471.70=10,363.40/36=$287.87
Interest (27816+724.10-705+17471.70)x.00132=$59.81
Total=$347.68
These were the latest rates I could find, which were Nov '07. You can update once you get the Dec rates.
If anyone notices a formula error, please let us know. Thanks.
The price of $28566 was after all rebates and discounts according to the e-mail, do you really think I could get it for $27816? That is several thousand under invoice I believe. Would be great though. I will e-mail and ask why there is such a huge difference in payments.
Thanks
So he's holding firm - for now. The good news is that there is another Mazda dealer not far, and I'm not opposed to getting an Acadia either.
I also asked about Sirrius radio. He thought that would add about $ 25 a month to the lease, which sounds high. He was unaware of any problems/conflicts between Sirrius and Bluetooth, which is in another thread.
Thanks for all the comments.
Howard
Paid $500.58 per month for 36 mos with 12,000 miles per year.
Total out of pocket $2000.00 (includes 1st month lease, etc.
MSRP $40,560.00
Options included are:
2PA Grand Touring Assistance Package
1MC Moonroof and Bose Audio Package
1RV Back Up Camera w/Auto-Dimming Mirror Display
1TP Towing Package
RCK Roof Rails
Thanks,
Howard
It’s my understanding that I cannot post the dealer’s name or the salesman’s name. If you let me know your e-mail address, I’ll be glad to forward that info to you.
MSRP is $ 37,525 not including the i-Pod kit.
Amount due at lease signing 3,250.00 (2,500 trade in + 750 rebate)
Total payments 15,132.52 = (457.02 * 26 payments) + 2,500 trade + 750 rebate
Agreed upon value 34,654.78
Sales Tax 724.34
Acquisition Fee 595.00
Gross capitalized cost 35,974.12
Capitalized cost reduction 2,394.97
First month payment 457.02
Title Fees 85.50
Doc Fee 250.00
Tax on Doc Fee 15.63
Cap Reduct Tax New 46.88
Total 3,250.00
Net Trade In allowance 2,500.00
Rebates 750.00
Total 3,250.00
Capitalized cost reduction 2,394.97
Adjusted capitalized cost 33,579.15
Residual value 23,265.50
Depreciation 10, 313.65
Rent charge 2,025.89
Lease payments 27
Base payment 457.02
Thanks
Here are are details:
08 CX-9 GT Black Cherry
Bose/MoonRf/AutoDimm Homelink/RoofRack/SplashGuards.
MSRP:40,240
Net Cap: 36833.00
Lease cash rebate: 750+500=$1200
MF: 0.00132
Lease term: 3Yrs/36K
DownPMT: 5000.00 (Includes Ist month, Acq.Fee, Doc.Fee, Tax&Regn for 3 years and CAP reduction)
Monthly Pmt: $401.24
Dealer threw in Remote Start after I complained that this one doesn't have it.
I am very satisfied with the deal. Thank you all once again.
Setting the Price:
2008 CX-9, Black Cherry Mica/Sand Leather
GT Assistance Package
Moonroof/Bose/6 CD Package
Blind Spot Monitoring
Compass/Homelink Mirror
Tow Package
Wheel Locks
MSRP: $39,300
Negotiated: $35,000
Additional Items:
20" Chrome Wheels: $550
All Weather Mats: $0
Cargo Mat: $0
Cargo Net: $0
Additional Items Total: $550
Lease Data:
MSRP: 39300
Cap Cost: 35000
Cap Cost Reduction: 750 (lease credit rebate)
Residual Factor: 52%
Term: 36 months for 12K miles/year
Money Factor: 0.00132
Acquisition Fee: $595
Base: 453.41
Tax: 35.14 (California Sales Tax of 7.75%)
Monthly Payment: 488.55
Any thoughts???
Basically, I am paying upfront on the following items:
Acquisition Fee: 595
Chrome Wheels: 550
Inception Fees:
1st Month: 488.55
License: 295
CA Tire Fee: 8.75
Electronic Filing Fee: 28.00
Cap Reduction Tax: 153.51
Total = 973.81
+ Customer Cash as Cap Reduction = 1230.72
= Total Drive Off = 2204.72
Credits as:
Customer Cash as Drive Off: 973.81
Customer Cash as Cap Reduction: 1230.72 (chrome wheels and acquisition fee are included in this number and additional 85.72 is here due to refactoring the my previous deal and funds that had already been cashed in by the dealer in my previous "botched" contract)
Rebate as Cap Reduction: 750.00
Hope this helps better evaluate my deal.
I'm looking to lease a cx9 touring awd in the wayne,morristown,union New Jersey area and anywhere close to these towns.
i drive alot and probably would be better off buying but don't really want to put money down..so hence the lease.
anyone know a dealer that gives a great deal and what can I expect to pay for a lease for 18k year and just inception fees..(by the way what are the extra fees I should be asking about?)
i'm shopping on my own and don't know alot about getting the best deal..
i always feel like i'm being ripped off.
i know they had a good deal on a 27 month lease but i think that is gone since jan.2.
also does it make sense to turn in my car a month early (I'm over by 15,000 miles yikes!) I know..i should probably buy...talk me into buying and maybe i will...
though if i buy. i'm thinking i should go for a hybrid..who knows where gas will be in 5 years!
LL
HELP!
thanks
Also call a few dealers around and ask to speak with the finance manager and ask what money factors and residuals values they can offer at their dealership (typically two scenarios - the captive bank (Mazda Acceptance Corporation) or one of their "local" banks lease plans)
It's also a good idea to know your credit score and report EVEN if you think you have paid all of your bills on time. There are times when the lenders will mistakenly report negatively.
Lastly, all the "invoice" prices have some buffer. So let's think this through...
MSRP - never pay this even if the car is considered "hot and awesome" or SUV of the Year...
Invoice - I consider this a no-go as well. There are always some manufacturer-to-dealer funds that you can tap into.
Consumer Report's Bottom Line or Edmunds TMV - these numbers are slightly inflated as well.
My Price - I know I have hit a nerve when the dealer doesn't care to see me leave. Or if they call security to show the "crazy person with an unreasonable number" the door. That's where I like to start from. DON'T BE AFRAID TO WALK AWAY. The car will be there tomorrow.
Setting the lowest price versus the MSRP impacts the bottom line lease payment. And always ask them to throw in things for free... I am getting cargo mat, cargo net, and all-weather mats for $0.
For example, in addition to the freebies - the offer I am looking at for leasing started with MSRP at 39300, the dealer's invoice was 36175, and we ultimately are looking at a negotiated price of 35000.
Moral of the story - if you NEVER ASK, the answer is ALWAYS NO.
MSRP $38,015
Cap Cost 34627
Base Payment $478
Sales Tax $26
Excise Tax $40
Residual 51%
Money Factor .00101
Upfront Cost $1546-$600 rebate+ $946.00
Got this deal in Quincy, MA - do you think I did alright??? Hate car shopping.
Thanks
CAP COST REDUCTION 2954.15 + FIRST MONTH 417.90 = 3371.05
DOES THIS SOUND LIKE A GOOD DEAL. THANKS FOR THE HELP .
I have a few questions:
1. How many miles and for how many months is the lease contract?
2. Were the roof rails, wheel locks, and backup camera package installed by the manufacturer - in other words, are those items found on the manufacturer's sticker price printout?
3. Does the CAP COST reflect the FINAL sales price that you negotiated from the MSRP? Or are there other items in the CAP COST (ie. dealer installed items like all-weather mats)
Car shopping can be fun - it's the negotiations that can be intimidating.
By the sounds of it, you already took delivery of the vehicle - correct? As for the black cherry/sand interior, excellent taste!
1. Have you already taken delivery of the vehicle?
2. How many miles have you negotiated for the lease?
3. What is the residual value and the money factor you were offered?
4. Is the 1403.02 simply upfront sales tax, or does it include the registration fee, as well as the acquisition fee (typically, $595 with Mazda Acceptance Corp.)? Maybe a good idea what makes up that 1403.02 cost.
5. Can you itemize your cap cost reduction items?
Can't render any thoughts without these answers.
2 . 10500 WHICH IS PLEANTY FOR THE WIFE
3 . RESIDUAL VALUE IS 25718.40 DID NOT GET THE MONEY FATOR
4. 1403.02 IS UP FRONT TAXES 808.02 AND 595. IS ACQUISITION FEE
5 ITEMIZED CAP COST IS . 36861.50 AGREED VALUE 808.02 TAX AND 595. AQUISITION FEE.
MSRP WAS 40185 AWD GRAND TOURING THANKS FOR THE HELP.
Where did you get this deal? I'm interested in pretty much the same exact model just different color. Any contact information you can give so I can give them a jingle myself?
Thanks!
I have a couple other questions.
what is the cap cost reduction?
Do dealers offer rebates always which I saw with yours?
Do i always have to pay an acquisition fee even if the car is on the lot? or is that the destination charge?
where do i find the invoice number for the car i want ?
Do i go in and say i'm buying it vs. leasing first so we decide on a price first?
invoice or below? Then say i want to lease?
what are hidden costs?
thanks so much!
LL
I went to the only dealership in Irvine. I would recommend that you speak with the sales manager. Like many other dealerships, the best time to buy is towards the end of the month. Hope this helps.
Definition of Cap Cost and Cap Cost Reduction - Read this first
It's always good to ask about what rebates are available in either a lease or purchase.
The acquisition fee is typically the fee for the leasing/finance bank to "acquire" the vehicle from the dealership. You are typically obligated to pay for this or have it calculated into the cap cost. Heck, I suppose you can always ask to see if they would be willing to pay the acquisition fee. Most of the time the dealer may say "no"; then you can ask if they would be willing to pay for a portion of the acquisition fee and again you MAY get a "No" answer. Again the point is to always ask. This goes for any other fees, yes, even the license fee that you pay to the state. Same philosophy goes for the "destination charge".
You can find the "invoice price" on Edmunds or Consumer Reports (new car buying guide/report, typically $12/car). I found the CR numbers to be pretty close to the dealer invoice (maybe a difference within a $100). I would negotiate below the bottom line prices that either of these resources give as a starting point.
Setting the price should be set regardless of lease or purchase. I go in saying that I would consider all options and that setting the price has nothing to do with whether I buy all-cash, finance to own, or lease to borrow. Typically, setting the price with the dealer FIRST. Once the best price is set, then you start to talk numbers regarding financing or leasing.
For either leasing or financing, you can ask up front BEFORE they run your credit, for tier-0 (best credit), tier-1 (good credit), tier-2 (some blemishes on your credit). You can even ask this information over the phone BEFORE you even go to any dealer. - different dealers MAY have different rates. Just ask to speak with the finance manager and they should be able to give you all the pertinent data points. What are those data points???
For financing, "What are the interest rates for tier-0, 1 and 2?" and "Any additional incentives for purchasing a FWD CX-9???"
For leasing, "What are your money factors (lease equivalent of an interest rate) for tier-0, 1, and 2?" and "Any additional incentives in leasing a FWD CX-9?"
Heck, if you ask these questions and set your bottom line price, you can determine whether or not you can afford the vehicle BEFORE you even set foot into the dealership...
Hidden costs can vary. Some hidden costs I find are the over-priced dealer add-ons. I really like chrome wheels on the CX-9. They were asking $1250 for chrome, they came down to $550. On their computerized deal sheet, have them explain to you each and every line item so you know exactly where each dollar you are giving them is truly going towards. I spent about 20 minutes just walking down the deal sheet so that I don't leave not feeling like I spent money on some line item that I have no idea of what it truly is.
Hope this helps.
MSRP 40185
BASE CAP COST
COST ADDED TO LEASE 1403 = 808 TAX + 595 BANK FEE
CAP COST REDUCTIONS 2954 + FIRST MONTHS PAYMENT 416.29
ADJUSTED CAP COST 35310
RESIDUAL VALUE 25718 = 64%
MONEY FACTOR .001 = 2.4% THIS MAY BE A LITTLE HIGH
TERM 27 MONTHS
MONTHLY PAYMENTS 416.29
DEPRECTION 9592
RENT CHARGE 1648
TOTAL PAYMENTS 11240
TOTAL LEASE COST 14194
10500 MILE PER YEAR WHICH IS PLEANTY FOR MY WIFE . DID I DO OK?
Thanks erick
thank erick