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Mazda3 Lease Questions
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"The best lease that Mazda has to offer to you is the 24 month lease, the money factor is 1.46 and the residual is 63% at 15,000 miles per year. With 0 out of pocket the payment is $333 plus tax."
Thanks in advance.
I am not personally all that familiar with what the market is like for the Mazda3 right now, but you are in a competitive market. If I was trying to lease this car in your area, I personally would probably shoot for a selling price of a couple hundred dollars over dealer invoice and see what happens. You may be able to get an idea of how much you will have to pay by checking out how much other community members have paid for similar cars over in the "Mazda3 Prices Paid and Buying Experience" discussion.
Car_man
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Car_man
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Say 36/39/42 (whichever is most advantageous) on a 4door S GT?
Thanks!
I have a 2006 MAZDA3s GT fully-loaded hatch that my mom got for me as an early 17th birthday in April 2006. It is currently a lease with Mazda Credit 12,000 miles/year for 3 years. As of RIGHT NOW, I have only 6,000 miles left for the whole year (remember, my lease expires April 2009.) Now I do not want to keep this car as my car for the rest of college because both my mom and I want my next car to have stability control after witnessing its usefulness in both her 2004 Acura MDX and 2008 Infiniti G35. So here's my dilemma: Can I do an early lease termination, and if so how and should I do it?
-I've gone to a couple of dealerships (including another Mazda dealership where I did not get this 3 from) and they have all said that they can assist me in my early lease termination. Is this true? The Mazda dealership where I got the 3 from said that I had to return the car to THEM and nobody else.
-I was told that by doing an early lease return somewhere this summer would put me in negative equity. Can somebody else elaborate? How do I calculate how much negative equity would have to be rolled into a new car?
-On Mazda Credit's website, they talk about lease-end procedure and how I can purchase the car outright at the end. Does that mean that whatever the agreed-upon price of the vehicle when we signed the lease can be split up into monthly payments as they are now?
-Is it true that at the end of my lease that if I just leave the car with them and not pick up a new car that I have to pay?
PLEASE HELP GUYS!! I'm really confused as to what to do with my situation. Any advice is appreciated!!
2. negative equity is the difference between the value of the car and what you owe. Leases can be terminated in 1 of 2 ways. Paying all the payments NOW and getting out of it ... so 12 payments in your case, I presume. OR a dealer you trade it to actually buys it from Mazda at your current buyout and gives you credit for its trade value. This is the preferred method only when the current trade value exceeds the end-lease buyout. So, for instance, if your buyout a year from now will be $10k, but the car is CURRENTLY worth $12k on a trade, then they but it from Mazda for, say $16k, and you have to roll the $4k negative into your next car.
3. Yes, if you decide to buy the car at the end of the lease, I'm sure Mazda credit will work with you on a finance contract .... or you just go to a bank.
4. Whether you pay at the end or not depends on your contract, miles driven, and excess wear and tear. Some contracts have a fee at the end for turning it in, which would be added to the fee for your excess miles and/or excess wear and tear.
You have a lease allowing 36k total miles. You've driven 30k and have a year to go. That means, at your current rate, you will go over by 9k miles. If I assume a 15 cents per mile charge, you would owe $1350 at lease end in excess mileage charges.
If I were in your shoes, I would try to wait as long as possible and see where you are at at that time. Once you get to ... say 35k miles ... then weigh your options again. It may be worth it just to pay the excess miles and finish the lease rather than roll too much negative equity into another vehicle.
Without knowing your payments or buyout, its very difficult to give you any advice other than 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
Car_man
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What is a good monthly payment for a 36 month lease on a mazda 3 auto touring value edition with a small $1500 or $0 down payment?
THX
The time is near for me to make a decision to buy or lease. I am looking for a Mazda 3i touring value edition with automatic. The lease should be a minimum of 36 months longer is also good. I can live with 10,000 to 15,000 miles per year with no or a minimum amount of cash down. What monthly fee should I be looking at? What would be the buy out at the end of the lease?
THX for your advice.
For now I can tell you that Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Mazda 3i touring value edition with 15,000 miles per year are .00165 and 54%, respectively. The residual value for a lease with only 12,000 miles per year would be 2% higher. The residual value for a lease with 10,500 miles per year is 3% higher. You can use this lease program, along with the prices that I mentioned to calculate a lease payment using the formula that is outlined in this article: Calculate Your Own Lease Payment.
Car_man
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I would estimate a selling price of $17,500, MSRP of $18,200. The destination charge is an additional $635. I would also be ok with 10,500 miles per year. Does Mazda do a 4 year lease as well as three years?
.........on a Mazda 3 i touring with a msrp of $17,790.00 plus a $1,000 discount bring the price to $16,790.00
on a 15K mile lease with 0 down
24 month = $336.00 mo 27 month= $317.00 mo 36 month = $297.00 mo
Same 15K miles a year with $1,000.00 down
24 month = $293.00 mo 27 month = $279.00 mo 36 month = $268.00 mo
Same as before but with $2,000.00 down
24 month = $250.00 mo 27 month = $242.00 mo 36 month = $239.00 mo
THANKS A BUNCH
I Just leased 2008.5 touring value edition.
My lease is 236 (tax inclusive...222 w/o tax) for 27 months with 15,000 miles and NO MONEY OUT OF POCKET except for first month and tags (~210).
I originally agreed to 39/15k at 209 (w/o tax) with zero out of pocket but realized at time of signing that I would have an extra 12 months and might be out from under warranty at 36k miles with a 39/15k. They offered to make it 27 months which worked out to $14 more a month. I didnt have the RV's or MF's for 27 months but had to trust their Numbers (61% and .00196) but I figured for an extra 14 dollars total I was out of lease one year earlier and always under warranty. So I bit.
THoughts?
Dan
It may be worthwhile to send out number requests to several dealerships over the internet. One pointer....Even if you are inquiring over the web at local dealerships it would seem beneficial to say over the web that you are a few hours drive away. They tend to be more aggressive with buyers who live further away as these are customers outside their normal catchment area and can be considered "bonus" costumers.
Car was for my wife...we drove it home today.
I can tell you that the agreed upon price was roughly 14,400. THey figured in the acq fees etc (roll into price) so the final cap cost price used for calcualtion was somthing like 15,600.
THis is a large dealership with a big inventory of these cars.
THis was for the touring value edition. I did not opt for the moonroof. but comes with power locks,windows, A/C and fog light etc. I essentially took the value edition (2008.5 ) without any add on options.
Here is how I went about getting car....
Origially via email they offered me "Your Mazda 3i sport comes standard with a 2.0 liter engine, a 4-speed automatic transmission, a tire pressure monitoring system, cd, electronic asst. steering, steering wheel mounted audio controls, and much more.
39 Months/10,500 Miles Per Year/$1,200 Total Out of Pocket..(oop)
$211.29+Tax"
I went to dealership to look (wasnt buying...nothing they offered me was going to sell me a car until I had a chance to familiarize myself with RV's and MF"s and expected sales price of car. I also wanted to look at competeing dealerships, brands and models). Instead of letting me leave they offered me this car for 209/month with nothing down or oop for 39months. I said no and went home to crunch numbers and came across residuals from this site and MF's for 39 months. I punched them in and utilized a a 2500 discount that was being offered from dealership on all the cars. I figured that I should be in the touring value edtion for the same offer.
I called the next day and offered to come in after workk (if they agreed to same lease offered me but for the touring instead of the iSport. They got back to me that they couldnt do it but would for 229/month (39 months). I said I would think about it . THey emailed me on saturday that they might be able to do something.
I called on Sunday and spoke to manager and told him I would come right in if they could do the 209 deal on the value touring. THey called me back 15 minutes later and said they could but I needed to come in TODAY. no problem..I was there an hour later.
At the financing they changed gears on me and wanted to make it 27 months (to do me a favor..of course, having a shorter lease means they get a potential customer back sooner as well and a car in better condition to sell)...Iike I said above I was hesistant to do this because I didnt really know the RV's or MF for 27 months but figured that for an extra $14 dollars a month i can shorten my lease by a year and make sure that I am always under the 3/36 month warranty (I was concerned that we would have about 45K mile on this car after 3years so I did it after punching in #'s into my palm phone lease calculator program and satisfied myself that no other parameters are being changed and no monkey business was occuring.
Seemed like a good deal
If the dealer is not willing or able to frop the price signficantly then consider having the car shipped from elsewhere.
I had my wife's Odyessy Touring edition shipped down from North east a few years ago for about $500 since the folks here were asking at or above MSRP when it first came out. I found discounts up in the NY, PA and CT area from larger dealerships and the 500 shipping fee was more than covered by the difference in price in the first year of the lease.
Of course, with gas prices up I imagine the cost to ship is also increased.
I will be home later tonight and will try to see the actual invoice price and let you know
Dan
I am not sure why the price was so good...They were offering $2500 discount on almost all Mazda's on lot so they must be getting some bulk discount or the dealers have a larger behind the scenes rebate than we are aware.
I
Thanks in advance,
Michelle
I went with Delray Mazda and Bret was the sales person
Dan
This is the car that I would like to lease. I wanted to see what the money factor and residual value for this car was lately. I really want this car with the navigation and 6 CD changer with Bose upgraded sound system. I have $1000 to put and I am looking for primarily a 24 month/24K mile lease. If you could post what the 36 month/36K mile lease figures are as well I would appreciate it too. I did email a dealer and was quoted $414 + tax. He said the MSRP was $24,525. It doesn't sound like he gave me a break. I would like to try to see where he got that number from.
If you have the residual value and money factor for the 5 door sTouring for 24 month/24K mile, I would like those as well. I am thinking I might have to settle for this model.
Any help is definitely much appreciated.
Car_man
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Car_man
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Delray (FL) Mazda:
2008 Mazda3i Touring VE (5-speed manual)
MSRP $17,230
27 months
12,000 miles
$850 down out of pocket
$191.50 (+tax) per month
Any feedback - good, bad or indifferent - would be useful. Thank you in advance.
Can you give me an opinion on this lease payment for a Mazda3 s touring with the moonroof package MSRP 21015
Quote: 19216
$2000 down, 24-month lease, 12k miles/year
$241/ month including tax.
Thanks,
mmenard
5 door Grand Touring with the bose/sunroof
3yr, 15k/yr
and i want to write a check for 3000
23425 is what the sticker says.
he calls me back and quotes 395-415/month
that just sounds wrong. that's lexus is territory.
I saw on the Mazda6 forum that they are no longer leasing the '08 Mazda6.
It's getting difficult to find a decent price on the i Touring Value right now because of the popularity of the car due to fuel prices.
$2000 drive-off
12000 miles, 36 months
$241/month tax included.
Car_man
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Could you please let me know if the money factor and residual value has changed for July on the Mazda3 i Touring Value Auto? I'm specifically looking for 36 mo / 12K miles per year. The MSRP on the base model is about $18145.
Thanks for your help!
On the Mazda3 i series, the current July money factor for a 36 month / 12000 mi per year lease is .00185. The residual value is 55% of MSRP (deduct 2% for a 15000 mi per year lease).
Did you happen to come across July MF and residuals for the s Touring?
Car_man, can you confirm if these have changed since you posted them for woods in June? With a second child on the way, we've decided on a 5-door 3 instead on an SUV. I'm excited!
Looking for MF and residuals for 24 and 36 month lease on s Touring hatch.
I was just quoted. MF=0.00224, and 50% residual for 36 month lease. the MF seems high.
Car_man
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I'm considering leasing a Mazdaspeed 3 as the local dealers have a number of 08's on their lots - lease info seems hard to find though, and expensive.
Does anyone have recent figures?
Thanks in advance.
I know that I could always purchase the car, or roll it into a new lease, but I love the car and it is Phantom Blue Mica - a great color that is no longer available.
-Jicbulk
live in San Diego, but have noticed outrageously drastic differences in advertised prices between san diego and neighbors to the north (orange county, LA)....
I am looking to lease a Mazda 3, trim irregardless except that I want power everythign and the 2.3 L engine (the 2.0 is just not enough for me..)
i am looking for a 3 year lease - i actually plan on buying the car at the end, so I don't know if its worth getting the 15k or or the 12k, but im wondering what i should expect in terms of lease offers. I have approximately 1500 to 2k to put down.
also - what are the fees that dealers normally include that can actually be waived and or lowered? I am willing to put down money but would prefer that money be SIMPLY a down payment and not a million fees. Please help me somebody...i am trying to do the right thing here.
Car_man
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In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible and then have the dealer calculate your monthly payment using its buy rate lease money factor. On a Mazda3 in an area that has a decent level of competition, I would not be surprised if you were able to negotiate a selling price that's pretty close to dealer invoice. You can find the invoice price of the exact model that you want by visiting the New Vehicle Pricing section of Edmunds.com. The buy rate lease money factor for a 36 month lease of an '08 Mazda3 i is .00182.
In your post you mentioned that you have $1,500 to $2,000 to use as a down payment on your lease. It actually would be in your best interest not to make any capitalized cost reduction when leasing. Consumers who make large down payments on leases risk losing them if their vehicle is totaled. You would be better off only paying your car's first month's payment, acquisition fee, and security deposit at signing.
Car_man
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16620 MSRP
36 month lease 15k miles
2500 down
8.375 tax here in rockland county ny
239/month?
Car_man
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I'm looking at a 2008 s Touring with Moonroof/6CD/autodim mirror/rear spolier... I'm looking to see what the residual value is on it, as well as the money factor... could you help me out...
Thanks,
-Jason
2009 Mazda3 sedan
Grand Touring
Black
Manual
Sunroof/Bose Package
ZERO down, 12k/36 months
$20,500
Residual value is .55 and interest rate is 5.7%
$380 per month
Any thoughts? I've test driven the car 2x (also driven the Saab 93, Volvo S40, Jetta Wolfsburg & SportWagon, WRX, Audi A3, Mini Clubman) and love it, just all around great car. Reviews don't hurt, everyone seems to rank them at or near the top...
Thanks.
Car_man
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