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Mazda3 Lease Questions
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Thanks!!
Here you go...
58% for a manual
59% for an automatic
0.00185 money factor (dealer can mark up 0.0005)
You need to be a 660 FICO or higher to be approved for lease special.
Thanks for the data! Are there any lease rebates in addition to this? I know last month there were some incentives. Like Lola225, I'm interested in a 3s GT sedan
Thanks again!,
Yes, there is a $1,550 lease rebate. There is also a $500 owner loyalty rebate if you, or someone in your household currently owns a Mazda.
I'm not sure where you are located, but, in the North East the GT sedans are starting to run out, especially ones with a manual transmission. As a matter of fact, out of my 45 Mazda3's, I have no GT sedans right now.
I suggest if you can get a really good deal to jump on it. I have seen deals negotiated under invoice in my area with regularity. Good luck!
Going today so wish me well. If you are near Philadelphia, and could trade for a specific car, let me know. Haven't yet decided where to shop.
If my state does not offer the $1,550 customer lease incentive but a neighboring state does, can I lease the vehicle there and be eligible for the rebate? The details of the special lease listed on Mazda's site says "Residency Restrictions Apply" which has me worried.
If so, upon lease termination, can I return the vehicle to a local Mazda dealership or am I required to bring it back to the dealership where the lease was initiated?
Thanks!
2010 Mazda3 s Sport AT
10K residual: 63%
12K residual: 62%
Money Factor: 0.00185 (dealer can mark up 0.0005)
Good luck with your purchase. Unfortunately, I am in Connecticut and I have no GT sedans available at the moment. I don't swap with Philly area dealers.
Incentives vary by region. What state do you live in? I will see if I can look up the specific incentives for your area.
If I lease a vehicle in either of those states, am I eligible to receive the $1,550 incentive?
The fine print on Mazda's website listing the "Residency Restrictions Apply" confuse me because I'm not sure what exactly the residency restriction applies to, the $1,550 incentive or something else?
I don't think so. I looked up the incentives, and it may have something to do with the State of Illinois. I have no clue why, you should probably contact an Illinois dealer and ask them why. Sorry I could not help.
The numbers for an otherwise identical 39 month lease are 00195 and 58%.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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Prices Paid: Buying & Leasing Experiences Forum
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Prices Paid: Buying & Leasing Experiences Forum
The numbers for an otherwise identical lease of the Hatchback version of this car are 00181 and 58%.
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Prices Paid: Buying & Leasing Experiences Forum
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I originally went to see a Mazda 3i sport, one of those 0000 leases. It was supposed to be $199 a month for 42 months 12,000 miles a year.
I decided to get the 3i Touring instead which was the same deal except it was $219 a month (no money due at signing.
I had a $500 Mazda Loyalty credit & here's where things got confusing. I decided to add the taxes into the monthly payment, so I really would only need to pay $300 today for tags & registration.
The guy subtracted the 500 ($11.90 a month) AFTER he added the taxes. I'm thinking he should have subtracted first & then done the tax on the lower amount. Also he insists there is a $300 charge at the END of the lease. I'm pretty sure that's not supposed to be.
I signed the lease orger but not the lease agreement yet because the car was not on the lot. Did I get ripped off? He now says the payment with the taxes included is $240 a month. I'm pretty sure somethings wrong. And he was the AAA rep so he was supposed to be honest.
The dealer is correct. The $500 is taxed because it is considered "cash back".
Also he insists there is a $300 charge at the END of the lease. I'm pretty sure that's not supposed to be.
The $300 is a disposition fee, or lease turn in fee that Chase charges. If you decide to buy out your lease, then the fee is $150.
Buying/leasing my first car and hence need your help badly. Could you please let me know the MF and residual for a Mazda3 i Touring Sedan Automatic?
Also, I am being offered 19500 with the moon roof, 6CD and Bose package, all taxes and fees inclusive. Is that a good price?
I am located in Durham, NC, Zip: 27703. I also read about some $ 1550 cash incentive for leases, is that still available and if yes, is it available where I am located?
Someone please help!!
Factory invoice for this vehicle is $19,743, including $207 in regional advertising fees applicable for your area. I am unsure as to the vehicle use tax rate in your area so please either post that information or ask the dealer to give you the actual selling price of the vehicle before any fees and taxes.
It appears as though the zip code you provided is not eligible for the $1,550 Mazda Customer Lease Support. You can find this out by going to Mazda's website and at the top of the page, clicking on Shopping Tools -> Special Offers. Enter you zip code then click on the More Details link on any of the Lease Offers. If the zip code you entered is eligible for the lease support, the fine print will say, "Lease payment based on capitalized cost of $xx,xxx after $1,550 Mazda Customer Lease Support."
Without the lease support, the number you are aiming for should be no less than $500 under invoice. Personally, I would aim for a deal where the selling price of the vehicle is under $19,000 ($743 under invoice) since it is so late in the model year. Obviously you would decrease these prices by $1,550 if you are leasing from a dealer that is eligible for the support.
The dealer quoted 18500 + 555 (tax) + 444 (doc) + 74 (title) = $19573 to be exact.
MSRP is $20,920 with options.
What is the MF and residual value for such a vehicle?
The $500 loyalty credit may not be taxable depending upon the state in which you reside. For instance, Minnesota does not tax rebates or manufacturer incentives. To wit...
http://www.taxes.state.mn.us/taxes/sales/publications/fact_sheets_by_name/conten- - t/CM2_009387.pdf
It states:
Rebate is any manufacturer rebate, or any incentive, cou-pon, discount, check, or credit, regardless of origin. Re-bates are not taxable.
aviboy97 is correct to the extent that the overwhelming majority of states do tax rebates and incentives. I'm sure he assumed that you are from one of those states which is a reasonable assumption.
John
I will disagree with your statement. The deal you got is out of this world, and keep in mind, leasing changes from month to month. This customer is not being ripped off, so, before you go and make a statement like that, I would have all the facts first.
What was the MF and resid. on your lease? Selling price? MSRP?
It was my first time EVER leasing a car & I went in stupid. I only found this board AFTER & next time I will come here first & ask the appropriate questions. I probably shouldn't have been leasing because in the back of my mind I was thinking I would buy the car at lease end, I just didn't want to have a real high loan payment right now in this economy.
I really laid out no money except for $300 so somehow I felt that might be a good deal, not looking at the larger picture. When I said to the guy at the end that the buyout price seemed high (I think it was 10,500) he said and I quote.... "a good lease deal is always a bad buyout deal"
Live and Learn I guess, I'll be smarter next time. Oh!! and get this, they called me up & told me I signed on the wrong line. They want me to come back & sign on the right line. You would think that's HIS job to make sure I signed on the right line before I left. Oh, and I am in NY for whoever asked.
I doubt you were ripped off. All you need to look at is the selling price vs the MSRP. It is disclosed on your lease contract. The manufacturer sets the residual, which is the buyout price. The money factor on the Mazda3 is pretty low as well.
What was the actual sale price of the car? The deal you got sounded pretty fair to me.
What your salesman told you about a good lease deal being a bad buyout deal is right. Because the car is worth more in the end, the buyout is higher. You pay the depreciation on the car, which happens to be low, hence the low lease payment. A high lease payment will lead to a low buy out because the car does not hold value well, like the GMC Acadia.
thanks
I'm a potential first time Mazda buyer. If you have a chance, could you let me know the MF and RV for a 36 month lease of a 2010 Mazda3 iSport Automatic with 12,000 miles? Please let me know if I left out any info.
Thanks for your great work with this forum. I've read all 60 pages and have found them VERY helpful.
bmack11
I'm a potential first time Mazda buyer. If you have a chance, could you let me know the MF and RV for a 36 month lease of a 2010 Mazda3 iSport Automatic with 12,000 miles? Please let me know if I left out any info.
I was also wondering how a $1550 Mazda Customer Lease Support is factored into the price. In other words, if the MSRP is $17,855 and the invoice is $16,778 what is a good price taking into account the $1550?
Thanks for your time.
Can you give some details on your final negotiated price, discounts and money factor? My lease ends next month and I'm thinking about getting the same car as yours. What state are you in?
For the record, I completely HATE the entire car buying/leasing process. There HAS to be a better way.
Unfortunately, the car buying process can be very difficult, but, it does not have to be.
Did you buy from an NJ dealer? They are terrible. Always have been.
Since it is getting tougher for dealers to profit from new car auto sales with the dawn of the Internet and pricing being available and many units being sold well below invoice, dealers are forced to find other ways to make money, like adding VIN etching or raising doc fees. I'm a dealer and I am not saying I agree with this philosophy, but, in some cases it is a necessity.
I haven't encountered any problems when I've negotiated with dealers. The reason is that I've educated myself to the extent where I know as much about leasing as anyone in the industry (at least the math part). The education process doesn't take long and it's a great investment particularly for those that lease vehicles often. Understanding the mathematics, however, is an absolute necessity. And, it can be a bit complicated depending upon how your state computes sales tax and how you want to structure your lease. The math can be a little tricky especially in those rare instances where the 1st payment is capped in the lease and in those states that compute tax based on the sum of the taxable payments (e.g., NJ, NY, OH). I haven't found one Ohio dealer that does it correctly and I blame the software provider and, to some extent, the dealer.
At any rate and, for whatever it's worth, this is what I do...
1st. I do research regarding residual factors, money factor ( always use the buy rate), learn applicable incentives, examine promo ads, and establish a competitive selling price using edmunds, KBB (Kelley Blue Book), and overstock at zag.com.
2nd. I create a one-page lease proposal with all pertinent data including a description of the vehicle, MSRP, adjusted MSRP (if necessary), sell price, amounts capitalized (e.g., taxes, acq. fee, doc fee, etc), cap reductions (e.g., trade credit, cash down, etc), money factor, residual factor, residual value, term, taxable payment, lease payment, amounts due up front (itemized), contract provisions (gap insurance, excess mileage charge, applicable disposition/purchase option fees). All numbers in the proposal must be dead on accurate. Ball park numbers don't cut it.
3rd. I Fax/email the proposal to the dealer and negotiate via phone/email from the comfort of my home/office with my laptop excel spreadsheet (actually Mathematica) lease program fired up and ready to rumble! The only thing I'm likely to negotiate is the sell price and that only requires a few keystrokes on my laptop. And, bing-bang-boom, I'm done!
The key (no pun intended) is that you must do your homework and control the deal. Never allow a dealer to control the deal by allowing them to ":run the numbers". Trying to figure out the dealer's numbers is often a pointless exercise and, frankly, a waste of time that will only cost you more money in most instances unless, of course, you have a copy of their LEASE WORKSHEET. This is a computer generated document that provides all relevant details of the dealer's deal. The advantage of having one is that it eliminates confusion and guess work provided you know what you're doing..
A one-page lease proposal speaks volumes about you... it sends the message that you know and understand leasing. This quickly serves notice to the dealer, and so; they're not inclined to play games. The biggest advantage of a lease proposal is that it saves time, money, and aggravation.
If you would like samples of my lease propsals, send me an email at
diffeq@zoominternet.net
and I'll be delighted to provide them.
All the Best,
John
My dealer tried near the end of the negotiation to show me that he was losing $1,000+ on my car. Please. I looked him in the face and laughed.
I hate the process too, but I know that when I did the negotiating over the internet, it made things a lot easier.
When I got my Mazda 3i touring, the salesman set up the bluetooth. I loved it!! Now my phone died & I had to get a new phone, it's the same brand (samsung) but a different model & the bluetooth no longer works.
Can someone explain step by step (explain like I'm in kindergarten) how to re program the new phone into the car? Thanks so much.....
Do you have the money factor and residual values for a base Mazda 3 i Touring? My credit rating is above 800, so I'll qualify for the best rate available. Cap cost is roughly $300 above invoice, but the Money Factor seems high (4.656).
Only money due at signing is $262.
Here is what the internet salesman offered me:
1) Money Factor - .00194
2) Residual Value of car- 59%
3) Cap Cost of Car= $17,889
4) Monthly cost= $262
5) Total dollars due at closing= $262
Anyone, have issues with Chase leasing?
Regards,
Fishboy
I just got a mazda 3 i touring. To give you an idea of what i got on a 42 month lease:
1) MF- .00205 (4.92)
2) RV- 53%
3) Cost- $17,889
4)Monthly cost- $253 (w $1500 down)
And I'm a tier 4 credit, around 680 (which is not that good). If your credit is that good you should be getting MF of .00185. It'll only be a difference of like $15/ month, but that's your money, not there's.
BTW, Chase stinks but that's who Mazda works with. My husband and I have 2 cars through them and a mortgage, but they purely go by credit score. Your rates however are purely the dealership tacking on extra percentage to make their money back since you got the car for such a low price. But don't despair, it's a bad economy... the NEED your business. Don't forget that's your best bargaining chip. :-) Good luck!
Mazda doesn't work with Chase. Mazda isn't married to any bank. Mazda's finance captive is Mazda American Credit (MAC). Perhaps your dealer has an agency agreement with Chase to finance/lease vehicles.
John
Subaru Finance is now all run through Chase Bank. They've been pretty aggressive about taking over the financing for smaller manufacturers. It wouldn't be out of the realm of possibilities..
regards,
kyfdx
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You could very well be 100% correct and so I could be mistaken. I was told by a local Mazda F&I guy, who I've come to trust, that MAC does all of its own financing but that was some time ago.
Best,
John
Whoa there, killer. Mazda American Credit does not exist anymore. They are strictly customer service for existing accounts as of October 2008.
Mazda uses Chase as their captive. All loans and leases are subvented by Chase.