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Mazda3 Lease Questions

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  • 100ofr100ofr Member Posts: 4
    Car_man,

    Would you know if the rates changed as of 11/1?
    I'm going shopping tomorrow for a 3sGT or 3sT
    (or maybe 6iVE):
    36 months
    17,500/year

    BTW, how much would I be paying to "pre-buy" the miles. I think I read somewhere on Edmunds.com that it should run about half as much as at lease end.

    Thanks,
    S.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, mazda3_fan.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Chris. I'm sorry to hear about your bad experience. Dealer invoice might be a slightly optimistic price for this car. Given the lack of cash incentives on it, I'm surprised that this dealer told you that they would sell you this car for below invoice. I would think that something like $500 over is more reasonable. If you can get such a low price with no strings attached, good for you :). Have you stopped by the following discussion yet: "Mazda3: Prices Paid & Buying Experience"? If not, make sure that you do. It contains tons of real world examples of deals that community members have gotten on this car. Checking it out should give you a good idea of how much you will have to pay for one.

    I would be happy to double check your calculations for you, however in order for me to do so I need you to provide me with this car's full MSRP, including the destination charge. Let me know and I'll crunch some numbers. In the meantime, check out the following informative article that is available here at Edmunds.com to see if you are using the correct formula: Calculate Your Own Lease Payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 100ofr. Here's the latest info. Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Mazda3 Sedan GT with 15,000 miles per year are .00324 and 55%, respectively. The money factor for an otherwise identical lease of a 2007 Mazda3 s would be the same, but the residual value would increase to 59%. 15,000 miles per year is the highest mileage allowance that Mazda publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty, but I am not sure exactly how much less.

    Car_man
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  • aviboy97aviboy97 Member Posts: 3,159
    15,000 miles per year is the highest mileage allowance that Mazda publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty, but I am not sure exactly how much less.

    Actually, you can do a 19,500mi/yr lease, however, the residual takes a big hit. If you want more miles then that, then you may purchase them at .10 cents/mile. Any unused miles over the 19,500 that you purchased will be refunded at the end of the lease. You cannot purchase additional miles with Mazda unless you do more then 19,500mi/yr.
  • fedriverfedriver Member Posts: 8
    Hi Car_man,
    Can you tell me what the lease rates are for December? I am looking at a 36 month, 12k per year lease on either the sedan or hatchback. Also, any rebates with leases being offered?
    Thanks,
    FeDriver
  • mbartels11mbartels11 Member Posts: 13
    Car_Man,

    Can you also provide residual & MF for 24 & 36 month, 12k per year for both "S" sedan and hatchback?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi FeDriver. I actually heard that Mazda just enhanced its lease program for the Mazda3 a day or two ago. Let me check around to see if I can find out the details of its new lease program for you. Please post a reminder in this forum for me in a day or two and I'll let you know what I have been able to find out.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello mbartels11. As I just mentioned, I actually heard that Mazda just enhanced its lease program for the Mazda3 a day or two ago. Let me check around to see if I can find out the details of its new lease program for you. Please post a reminder in this forum for me in a day or two and I'll let you know what I have been able to find out. Talk to you soon.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Don't worry about the reminder, fedriver. I called around and got the latest info for you. The Mazda3's lease program varies by trim level. For now I will assume that you are interested in the 2007 Mazda3 i Sedan. Let me know if you want a different model. Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Mazda3 i Sedan with 12,000 miles per year are .00285 and 62%, respectively. Mazda is not currently providing any cash incentives on leases of this car.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi again mbartels11. Don't worry about the reminder. I called around and got the latest info for you. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Mazda3 s Sedan with 12,000 miles per year are .00283 and 72%, respectively. The numbers for an otherwise identical 36 month lease are .00324 and 63%. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Mazda3 s Hatchback with 12,000 miles per year are .00218 and 69%, respectively. The numbers for an otherwise identical 36 month lease are .00292 and 61%. Mazda is not currently providing any cash incentives on leases of this car.

    Car_man
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  • fedriverfedriver Member Posts: 8
    Car_man,

    You are the best!! Your answer on #62 filled me in on the rest of my questions. We all appreciate your research.

    FeDriver
  • damianinpadamianinpa Member Posts: 22
    Carman..I am looking for 2007 S Grand Touring with Stick and Nav. Can you tell me the Residual and money factor for 15,000 miles 24 month lease. I plan on putting Zero down and am curious at to what a payment might be ball park.
    Thanks soo much.
    Damian
  • wompumwompum Member Posts: 1
    I am interested in making a 1 time payment for a 36 month lease. Dealer advises that Mazda may limit the amount I can put down and will not allow a 1 time payment. Mazda website lists a 1 time payment as an option. Do you have any insight?
  • questionmark3questionmark3 Member Posts: 1
    Hi Car Man,
    Do you know if the numbers you gave in December for residual value and money factors are still valid, or if there are new ones for the new year?
    Cheers,
    !Mark
  • jicbulkjicbulk Member Posts: 25
    Hi Car Man,

    Thanks in advance for your efforts. Can you tell me the residual and money factors for the new year? I'm looking at 2007 Touring with Man'l Tranny in both sedan and hatch versions. Figure 12k miles and 24 and 36 month terms. Thanks!

    -Jicbulk
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks FeDriver :blush: . I'm glad that I was able to answer your questions for you. Let me know if you need anything else.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Damian. Mazda is offering 27 month leases instead of 24 month leases in January. Mazda Credit's current buy rate lease money factor and residual value for a 27 month lease of a 2007 Mazda S GT Sedan with 15,000 miles per year are .00290 and 64%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi wompum. While I have never personally done one, I have heard that Mazda Credit does offer One Pay leases. Unfortunately, like most banks' advance pay leases, Mazda's one pay lease option is not interest free. It does provide a reduction in the money factor that is used to calculate the interest portion of the lease cost for consumers who pay for their entire lease in advance though. The last time that I looked into it, Mazda Credit's specific money factor reduction for advance pay leases was around .00041 for 27 month leases, .00083 for 39 month leases, and .00125 48 mo. money leases.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Mark. Mazda's January lease program is different than its December program was. You never mentioned exactly what model you want, how long you want to lease it for, or what mileage allowance you need so for now I am going to assume that you are interested in leasing a 2007 Mazda3 i Sedan through Mazda Credit for 39 months with 15,000 miles per year. Let me know if you want something different. The buy rate lease money factor and residual value for the aforementioned vehicle are .00296 and 58%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, jicbulk. Mazda Credit's current buy rate lease money factor and residual value for a 27 month (Mazda is running 27 month leases instead of 24 month ones this month) lease of a 2007 Mazda3 i Touring Sedan with 12,000 miles per year are .00290 and 70%, respectively. The numbers for an otherwise identical 39 month lease (Mazda is running 39 month leases instead of 36 month ones right now) are .00296 and 59%.

    Car_man
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  • jicbulkjicbulk Member Posts: 25
    Thanks Car_man,

    I meant to specify the "S" version of the car....how do the numbers change if I specify Mazda3 S Touring with Man'l Transmission in both Sedan and Hatch. Thanks!
    -Jicbulk
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, Jicbulk. Mazda Credit's current buy rate lease money factor and residual value for a 27 month lease of a 2007 Mazda3 s Touring Sedan with 12,000 miles per year are .00290 and 68%, respectively. The numbers for an otherwise identical 39 month lease are .00296 and 57%.

    Car_man
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  • jicbulkjicbulk Member Posts: 25
    Thanks Car_man.

    Any way to confirm the numbers? The Dealer (Tully Mazda in Nashua, NH) is quoting me a residual of 67% for the Touring S Sedan. Just want to know, since a % point or two could make a difference in my decision. Thanks.

    -Jicbulk
  • thecardriverthecardriver Member Posts: 1
    Hello, car_man,
    I read through this forum and I am just wondering. Do you think lease deal on this month is pretty good one? I am seriously lease the car from mazda for Mazda 3 sedan or hatchback. Can I deal on this special price against dealer?
    If so, how much do you think I can ask for? Please, answer with your best knowledge. Thank you. :surprise:
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Jicbulk. Mazda's February lease program for this car is different than its January program was. If you were to lease a 2007 Mazda3 S Sedan Touring through Mazda Credit right now for 27 months with 12,000 miles per year, its buy rate lease money factor and residual value would be .00270 and 66%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi thecardriver. The answer to your question is not really. Of course a "good" deal is a relative thing. The Mazda3's lease program is much better than it used to me a number of months ago, but compared to a lot of other cars out there it isn't great. This car's money factor and residual value are set by Mazda Credit, but its selling price is negotiable. Negotiate the lowest selling price that you can on the Mazda3 that you want and then have the dealer that give it to you calculate your car's monthly payment using its buy rate lease money factor. You can get an idea of what sort off price you should be able to get this car for by visiting the following discussion: "Mazda3: Prices Paid & Buying Experience".

    Car_man
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  • stoaviostoavio Member Posts: 15
    Hello Car_man. After reading all of your helpful posts above, I was hoping you might be able to assist me. I'm thoroughly considering leasing a Mazda 3i Touring but need some help in determining my monthly payments. I realize there are numerous lease calculators and instructional articles available on this subject, but would still appreciate the help of someone with as much experience and savvy as you have.

    My first question is, how accurate is the lease calculator provided on the Mazda website? Based on the information I entered, my estimated monthly payments for a MAZDA3 i Touring 4-Door Automatic should be $115.00 including destination and package/option charges after factoring in my cash down payment. The options I selected are: All Weather Floor Mats ($60) and Door Edge Guards ($100). The MSRP is $17,810. I want to put the maximum cash down payment, which in this case is $4452. I've selected a 27 month lease with 12,000 miles per year.

    This is my first new car and I'm working with a fixed income. I need to ensure enough money is available for other expenditures too (not including car related expenses) so I think leasing to own, although more costly in the long haul, is the best option for me.

    So, do you think the estimation provided by the Mazda lease calculator is accurate? If not, how much off is it by your calculations? If it helps any, I live in Muskegon Michigan.

    Thanks a lot!
  • stoaviostoavio Member Posts: 15
    I'd also like to know the lease-end residual and money factor on a 2007 Mazda 3 iTouring Automatic on a 27 month lease at 12k miles per year.

    Thanks
  • glevittglevitt Member Posts: 30
    Hi Car_man, Can you tell me the MF and residuals for a 27 and 36 month lease on a 3 S Grand Touring, 12k mi/year.

    Thank you.
  • what2get07what2get07 Member Posts: 9
    Hi Car Man / Host,

    Can you please provide the buy lease money factor and residual value for configuring a lease (I believe they vary according to length of lease terms, so I am open on length) for an '07 Mazda3 S 5-door Touring model?

    Thanks!
  • kbill07kbill07 Member Posts: 30
    What is the cheapest lease payment I can get for 36 months with 0 down. Looking to pay around $200 a month. Is this possible. What can expect to pay for zero down with 12000 miles
  • qbrozenqbrozen Member Posts: 32,889
    I'm curious about the current Mazda3i lease deals. Specifically, we'd be interested in a 3i touring automatic 4-door. The advertised deal is $203 with $2199 due for 27 mos at 12k per year. If I'm figuring correctly, it looks like a staggering 76% residual. Can that be right??

    What's the MF on this deal?

    Thanks.

    '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

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, stoavio. I'm not personally all that familiar with how accurate the specific lease calculator is on Mazda's web site, but in general I have found that for some reason the calculators that manufacturers sites are often not all that accurate.

    Let me begin by saying that it is not a good idea to make a large down payment on a leased vehicle. Consumers who make one risk losing it if their vehicle is totaled in an accident or stolen and never recovered. You can and should lease any car that you want without making any sort of capitalized cost reduction.

    I would be happy to use Mazda's current lease program to estimate what your monthly payment should be, but in order for me to do so I need you to provide me with the selling price of the car that you are interested in. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. For now I will assume that you will be able to negotiate a $500 discount. According to my calculations, if you were to lease a 2007 Mazda3 i Touring Sedan that has an MSRP of $17,810 and a selling price of $17,310 through Mazda Credit right now for 27 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $261.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stoavio. Mazda Credit's current buy rate lease money factor and residual value for a 27 month lease of a 2007 Mazda3 i Touring Sedan with 12,000 miles per year are .00231 and 68%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, glevitt. Mazda Credit's current buy rate lease money factor and residual value for a 27 month lease of a Mazda3 s Grand Touring Sedan with 12,000 miles per year are .00231 and 64%, respectively. The numbers for an otherwise identical 39 month lease of this car are .00229 and 54%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi what2get07. Mazda's lease program for this car varies by term and mileage allowance. For now I will assume that you are interested in a 39 month lease with 15,000 miles per year. Let me know if you want something different. Mazda Credit's current buy rate lease money factor and residual value for a 39 month lease of a 2007 Mazda3 s 5-Door Touring with 15,000 miles per year are .00184 and 55%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings kbill07. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey qbrozen. Mazda Credit's current buy rate lease money factor and residual value for a 27 month lease of a 2007 Mazda3 i Touring Sedan with 12,000 miles per year are .00231 and 68%. So this car's residual value is pretty good, but not quite as good as the one that you came up with.

    Car_man
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  • qbrozenqbrozen Member Posts: 32,889
    So, what am I missing when I look at the advertised deal on Mazda's site?

    2007 MAZDA3 i Sport 4-Door $179/Month, 27-Month Lease, $2,179 due at Lease Signing. Includes 1st Month's Payment. Excludes taxes, title and fees. (**)
    (*) The Amount due at Lease Signing is higher in the following states: Connecticut ($2,616); Massachusetts ($2,681); Rhode Island ($2,725); Virginia ($2,441); and West Virginia ($2,452). (**) Dealer participation required. Not all lessees will qualify for lowest payment through Mazda American Credit. Some payments higher, some lower based on residency and other factors. Lessee responsible for excess wear and mileage over 27,000 at $0.15/mile. Total payments of $4,833. Purchase option at lease end for $10,996. Take new retail delivery from dealer stock by 4/2/07. See participating dealer for qualifications.


    According to this, the residual on a mazda3i sport is $10,996. Unless there are hidden options they aren't giving details on, a Mazda3i sport is $14,390. $10,996 is 76.4% of $14,390.(???)

    '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

  • kyfdxkyfdx Moderator Posts: 235,175
    MSRP is $16,170 with automatic and air...

    I'm guessing that is the car in the ad..

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  • qbrozenqbrozen Member Posts: 32,889
    the numbers certainly work. i wonder why they wouldn't state that in their ad. Oh well.

    thanks.

    '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

  • kyfdxkyfdx Moderator Posts: 235,175
    Yeah... most ads give the MSRP of the vehicle the deal refers to... At least, Honda ads..

    On the positive side... they didn't quote a deal for a car that no one would want.. :)

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  • sdoo25sdoo25 Member Posts: 25
    I wanted to know what the residual was for a 5-dr touring and a 5-dr sport w/12k miles per year. I see from one of your earlier posts that the money factor for March is 0.00184. What would the money factor increase to if you had tier B or C credit?

    Thanks!
  • calvinccalvinc Member Posts: 11
    I see the deal for the sport model, does that mean there's no deal for the grand touring model? I'm pretty set on a grand touring.

    I posted this question on another the honda lease section also...should I negotiate the car price first, w/o mention of a lease? Then, after settling on the price, go for the lease negotiation? Is it even a negotiation or is it basically whatever they tell me? How can I shop around for the lease deal if I'm already set at one dealership for the pricing for the car? Thanks!
  • luke111luke111 Member Posts: 5
    Hi, I was wondering if anybody can comment on this deal:

    No added options
    MSRP $19,910
    Sale price $18,410
    Term 39 months
    Money factor 0.00184
    Redisual 55% - $10,950
    Monthly payment $231
    Upfont charges total $2446:
    - $500 cap reduction
    - $595 acquisition fee
    - $272 tags and registration
    - $231 first monthly payment
    - Paid taxed in advance $848
  • qbrozenqbrozen Member Posts: 32,889
    not too good.

    Just last weekend we picked up one for my brother-in-law. An S touring sedan with moonroof and automatic. MSRP was around $19,800.

    27 months, 69% residual. 595 acquisition, 285 DMV, the fees were high at $600, but they gave him $500 more for his trade than it was worth, so that was a wash.

    They gave him $3k for his jetta and he put down $200 cash. His payment is $211 with tax included.

    Yes, he put down $750 more than your deal, BUT his lease is 12 months shorter and he has a $20 cheaper payment. So your deal just doesn't seem to make sense. I think it mostly has to do with that residual. I mean, 69% after 27 months is better than 55% after 39. Maybe you should ask them to work up a 27 month deal. That is where mazda's incentives lie right now, after all.

    '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

  • steevosteevo Member Posts: 389
    Car_Man..do you have the April MF and Residuals for 15,000 per year?
    Thanks!
  • tucci314tucci314 Member Posts: 2
    I don't really know much about leasing cars, but I'd really like to find a way to get a 2-year lease for this model with the sunroof & 6-CD changer package for somewhere between 200 and 240 a month. Is that possible? What exactly would I have to do to pull it off? Any information people could share with me would be greatly appreciated. Thanks!
  • qbrozenqbrozen Member Posts: 32,889
    anything is possible with enough money down.

    That's the same vehicle my Brother-in-law is now driving for 27 mos at $211 and his down payment was the $3k they gave him for his trade-in.

    With zero down, it would be somewhere around $340, i think. If you want $240, you'd have to put down probably somewhere around $2500.

    '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

This discussion has been closed.