Mazda Miata Lease Questions

kyfdxkyfdx Moderator Posts: 191,702
edited January 2019 in Mazda
Please ask your Mazda Miata leasing questions here.

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  • sourboy0811sourboy0811 Member Posts: 1
    I am all new to Leasing. I was wondering if 999 down and 299 am onth + fees and taxes is a fair deal on an '06 mx-5 sport. Please help. What should i look closely at.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Welcome sourboy0811. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    As far as the specific deal that you mentioned goes, 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 give you my opinion on this deal if you let me know what these numbers are.

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  • honeybun1honeybun1 Member Posts: 2
    we are looking to lease a Miata Grand Touring.
    Dealer says the MF is .00295 for 39 mo./15K yr.
    Is he correct? Also, are they give rebates?
    thanks.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hey honeybun1. Yes, the dealer that you spoke with told you the truth. Mazda Credit's current buy rate lease money factor for a 39 month lease of a 2006 Miata is .00295.

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  • asleepyasleepy Member Posts: 70
    Does anyone know the current Mazda Credi'ts buy rate lease money factor for a Miata? The residual? And lastly, what is the allowable dealer buy rate mark up?

    thanks.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi asleepy. The lease program for this car varies depending upon how long you lease it for, how manu miles per year you are allowed to drive it, and the exact trim level that you get. For now, I am going to assume that you are interested in a 36 month, 15,000 mile per year lease of a Miata Sport. Let me know if you want something different. If you were to lease a 2006 Mazda Miata Sport through its captive finance company right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00197 and 56%, respectively. I don't know how much Mazda dealers are allowed to mark this factor up, but since you know what it should be you shouldn't let the dealer that you lease from mark yours up at all.

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  • topspin628topspin628 Member Posts: 373
    I am also shopping for a miata and was told that the residual on a 36 mo. lease is 52%.
    I was told that an invoice deal with the 500 dealer incentive given to me for a GT with Premium package 1, 10.5K miles per year and tax in payment (8.25) would cost me 391 per month. They said that they wouldn't waive the 300 advt fee, so I would have to pay that as part of price for car.
    (First and security due at pick up)

    Is that in line?
  • jnuzzijnuzzi Member Posts: 39
    Hey Car_man, could you tell me the buy rate lease money factor and residual value for a 2006 Miata Touring (Automatic) for 36 months and 12,000 miles per year?
  • fourustonefourustone Member Posts: 1
    I am shopping for a 2006 Miata GT (auto) with premium package, 36 month lease, 15,000 miles, 500 dealer incentive. Could you tell me what the lease money factor and residual value (%) is for this car? And is the residual value a percentage of the gross cost, gross cost+tax, cap cost, etc?
  • jnuzzijnuzzi Member Posts: 39
    Is there anybody out there?
  • epiechepiech Member Posts: 8
    Hello Car_Man; I would like to know the October money factor(s) and residuals for both the 2006 and 2007 Mazda MX-5 Miatas’(the dealers in Utah have a mixture of both). I am particularly interested in the numbers for 36 months and 12K miles.

    If possible, I would also like to know if the numbers for the new 2007 retractable hardtop are different from the 2007 soft top.

    Thank you Car_Man.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hello epiech. Mazda's current buy rate lease money factor and residual value for a 36 month lease 2007 MX-5 with 12,000 miles per year are .00197 and 62%, respectively regardless of what sort of top it has. Plus, Mazda is currently providing $500 lease cash on this car. Make sure to take this cash into account when negotiating its capitalized cost. Mazda is no longer leasing the 2006 MX-5 through its captive finance company.

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  • audia8qaudia8q Member Posts: 3,138
    Mazda's current buy rate lease money factor and residual value for a 36 month lease 2007 MX-5 with 12,000 miles per year are .00197 and 62%, respectively regardless of what sort of top it has.

    not so fast....what model Miata is this? the 62% is only correct for the sport and GT @ 12k. Others have different residuals. Also, I have a rate factor of .00251 for all models tier 0-1. The hardtop uses mazda's standard rates.
  • maddogmurphymaddogmurphy Member Posts: 3
    Car_man: What is the current (Dec. 06) money rate and residual for an 07 Miata Grand Touring on a 36 and a 39 month 12k miles/year lease?

    Thanks
  • maddogmurphymaddogmurphy Member Posts: 3
    Thought of something else I wanted to ask. Is there any difference going with the PRHT? If so what are those numbers?

    Thanks again.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Greetings maddogmurphy. Mazda Credit's current buy rate lease money factor and residual value for a 39 month lease of the 2007 Mazda Miata Grand Touring with 12,000 miles per year are .00212 and 57%, respectively. I do not believe that Mazda is offering a 36 month lease on this car at this time. When negotiating your lease on it, make sure to take the $500 lease cash that Mazda is currently providing on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi again maddogmurphy. I believe that the money factor for the PRHT version of this car is the same, but that its residual value is 1% lower.

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  • waydewayde Member Posts: 198
    do you have these for March (or April when it gets here)?
    thanks.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    I do have the April numbers, wayde, and I would be happy to share them with you. Mazda's lease program for the 2007 Miata varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease of this car 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 36 month lease of a 2007 Miata with 15,000 miles per year are .00165 and 55%, respectively for consumers who qualify for its top credit tier.

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  • ec99ec99 Member Posts: 4
    Hi Car_man, could you supply the money factor and residual value for an '07 PRHT for 24 months and 12k miles per year?

    Thanks :D
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi ec99. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a normal 2007 Mazda MX-5 with 12,000 miles per year are .00136 and 67%. Having said this, I do not believe that this special lease program is available on PRHT models. In fact, if I am not mistaken Mazda is not providing any support on the PRHT Miata. Sorry that I don't have better news for you. You definitely should check with a couple of dealers to make sure that this is the case.

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  • audia8qaudia8q Member Posts: 3,138
    Your correct...the std. lease rates apply to the hardtop. This makes the lease payments a bit lofty.
  • wsm1969wsm1969 Member Posts: 1
    I was hoping to find out money factors & residuals for

    Mx-5 touring for 24 through 36 months 12k

    &

    Mazda speed 3 sport model for 24 through 36 months 12k

    I did see Mazda had some specials on mx-5 sport model
    in my area (17055 zip) but none of the local dealers
    have any sport models to sell, just a few touring models
    left.

    any help would be great - Thanks
  • paulhuangpaulhuang Member Posts: 63
    Hello,
    I was wondering if someone might be able to give me some details on the MX-5 Miata lease deals available.

    I am interested in a manual transmission with the soft top. The trim level depends on the answers to my questions.

    Some of my specific questions are:
    1. What are money factor and residual % numbers. Are they the same for Sport, Touring, and Grand Touring? I noticed Edmunds has all three trims listed while Mazda's website only lists the Sport.

    2. What is the assumed purchase price? I have access to Ford's X-Plan (I think it's called S-Plan for Mazda). Would this further lower the payments?

    3. Do I have to put a down payment down on this lease? I am interested in doing this with 0 down and accept the higher payments.

    Thank you very much for your help!
    Paul
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Here's the info that you're looking for, wsm1969. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 MX-5 Touring with 12,000 miles per year are .00129 and 67%, respectively. The numbers for an otherwise identical 36 month lease are .00158 and 57%. For some reason, I haven't seen the lease program for the Mazdaspeed3 recently, so I can't help you out there. Sorry.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi paulhuang. The MX-5's lease program is the same for all of the trim levels that you mentioned. Its lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Mazda Credit's current 36 month, 15,000 mile per year buy rate lease money factor and residual value for the '07 MX-5 are .00158 and 55%, respectively.

    The fact that you qualify for Ford's X-Plan assures that you will be given an attractive selling price for this car. Chances are that your lease payment for an X-Plan deal will be lower than what you would have been able to negotiate if you had just walked in off of the street.

    Consumers can and should lease any vehicle that they want without making any sort of capitalized cost reduction. All you will have to pay at lease signing are your car's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, Mazda Credit's acquisition fee (I believe that this is $475), and any required state taxes or fees.

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  • paulhuangpaulhuang Member Posts: 63
    Thank you very much Car_man.
  • kestrellkestrell Member Posts: 1
    CAR-MAN, thanks for the information. I almost took what I thought was a good deal until I read your post. I had my sales guy talked down to $25,600 on an MX-5 GT w/prem pkg 2 & susp. pkg. My credit is very good so I should be good for a top tier rating, and the money factor I was getting was .002067. A far cry from .00158. With $2,965 down a 3yr 15k per year lease was around $350 at their rate. With the better rate it is $25 to $30 lower. I'm holding out for the better deal; or am I being unrealistic?
  • dilgerdilger Member Posts: 2
    where is the "s" sensor? i'm getting 4 flashes of the air bag light.

    dilger
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi dilger. I am sorry to hear about the problems that you have been having with your Miata. I don't think that you will have much luck finding an answer to your question here. This particular discussion is for community members to talk about leasing this car. You may have better luck getting an answer to your question by posting it in the "Mazda MX-5 Miata (2005 and earlier)" discussion. Also, try looking around in the "Mazda Miata Problems and Solutions" discussion. It is currently read only, but it has a lot of good information on the Miata in it.

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  • waydewayde Member Posts: 198
    Hey Car Man - Can you give some details on the new lease offer Mazda has out for the Miata? Thanks in advance. (MF, residuals, etc)
  • wilzapwilzap Member Posts: 107
    I think the offer is only available for the soft top, but don't hold me to that. I did talk to 1 guy who was going to do it but he waited to long and went to the dealer to find that they sold it that morning, and he was talking about a 27 month lease with about $1300. down plus all the other buying costs that you have with a lease, I would just call a dealer and ask for the details.. good luck
  • redesporedespo Member Posts: 1
    :) I visited my local Mazda dealer in NJ today and they quoted me the following lease terms for a 2008 Icy Blue Metallic Grand Touring Special Edition car.
    36 Month Lease, 12,000 miles a year.

    $1,800 down payment which included taxes and all security deposits etc.and he waived the first month payment.
    Then each month for the next 35 months I would have to pay $314.51 dollars.

    I have a 2004 Crossfire lease from this same dealership (Chrysler/Mazda) and I only have 14,800 miles on the '04. The lease is due June, 2007 and they said they would eat the last 3 payments.

    Is this a good deal?

    Thanks for everyones assistance.
    Red
  • wilzapwilzap Member Posts: 107
    Doesn't sound to bad if they are indeed going to eat the last 3 payments, I would make sure that they don't roll them into your new payments.. so I calculated your total cost that you listed and came up with $12,807.85 for 3 years then you can give it back or buy from the lease, the only problem I can see is only being able to put 12000 miles a year on it, I don't think I could drive it that little but I do drive mine year round.. am not a big fan of leasing but thats just me :)
  • pmrtpmrt Member Posts: 5
    I am new to this site so please bear with me. Looks like car-man is the "go-to" person on leases but I'll take anyone's advice. I have been offered the following deal on a new, 2008 MX-5 Miata SE convertible: $1K down (includes everything except excise tax) and $279/mo if I complete the deal before April 1, 2008 (that give me tomorrow only). My questions are: A) Is this a reasonable deal? B) Do you think if I offered to pay 12 months at a time (3 payments total) I could get it to $250/mo? C) My buddy negotiated oil changes in the lease price on a Ford. Is that reasonable on this car? and D) If I can chew down the 26,590 MSRP will that help the buyout price in the event I want to buy the car at the end of the lease?
  • robger99robger99 Member Posts: 42
    Just leased a 2008 mx5 miata touring 6 speed with appearance package. 27 months 15k miles/year total out of pocket $1070.00 for $289.00 month taxes in. Any thoughts on this deal would be appreciated.
  • pmrtpmrt Member Posts: 5
    I'm the guy with the question on leasing just before you. I got no answers but here is how my deal worked out. Mine was the special edition. List was 27,275. I got them down to 24500, then I leased. $279/mo + tax. $1k down. 12k/yr miles. I think I could have gotten them to 15K miles but I won't even put on 12K so it didn't matter. Also includes oil changes for the first year. No big deal. Lease + buyout price of 15,000 = 24,500. I'm satisfied. How it works out over 3 years really depends on how well the car performs/quality, etc.
  • robger99robger99 Member Posts: 42
    Sounds like a slightly better deal as the list on mine was approx 25,500. but it is only a 27 month with higher miles-which i will need. Enjoy your new car. Im in Michigan and it is 60 and sunny here today-it sure felt good to test drive it today with the top down!
  • pmrtpmrt Member Posts: 5
    I am a 30 yr veteran of sales negotiating and I'll bet there are still better deals. That said, obtaining the absolute lowest price is secondary to getting a reliable car through a dealer who services it correctly and efficiently, and looks forward to having you as a customer again. I picked up the car two days ago. It's been raining here in Boston since then. It's cold (roughly 40 degrees) and raw. The extended forcast? Rain, cold, windy, raw days through next week. I am driving my sedan. Hope you enjoy Miata, too.
  • howiebxhowiebx Member Posts: 20
    After much research, road tested Miata, 350Z and Accord Coupe. All are attractive, but I wanted to have some fun with the top down.
    I will be buying or leasing in about a week.
    It is a 3rd car, other is a suv and 4 door (wife & 2 teen drivers)
    I was offered this (did not negotiate yet)

    Grand Touring with Leather, soft top and limited slip package = $25,900
    Lease for 24 months at $295 with 2000 + tax down, 10,500 miles
    Lease for 36 months at $369 with 0 down, 10,500 miles

    Any recommendations on model choices?
    How do you like your car?
    Is the door cupholder annoying?
    THANKS FOR YOUR ADVICE
  • pmrtpmrt Member Posts: 5
    Howie:
    Perhaps you can seem my thread from a few days ago. I just closed a 35 month lease on a special edition. 24,500 was the final "price". The SE has everything you listed and then some. The lease was then $275/mo plus taxes. (I confirmed the tax costs myself)tions). $1000 down. 12K miles/yr. I am of the impression I could have pushed the dealer to 15K miles/yr without a problem but I'd never use it anyway.
    PMRT
  • howiebxhowiebx Member Posts: 20
    Thanks for the info,
    did the "SE" have leather and limited slip or any other
    "packages"

    I live in NY and was curious if your purchase was anywhere nearby that
    I could perhaps use the same dealer.
    Thanks again
  • pmrtpmrt Member Posts: 5
    The SE is the "top of the line" so-to-speak and has all the bells and whistles. Yes, it has leather interior, limited slip, 6-CD Bose system and other stuff unique to the SE. I'd have to check the sticker to see what else was unique to it. However it also has special wheels, zenon headlights (which I hate because they throw a beam with a cut-off like a razor) and comes in only icy blue with a chocolate brown ragtop and chocolate brown leather interior. I got it because that's the only color my wife liked. I am just north of Boston and doubt using this dealer would be worthwhile on a lease.

    I suggest trying a few dealers that are outside a 25 mile radius of you. Most dealers who know you are that far away view you as an opportunistic sale....one that they are not likely to make by drawing you in with advertising.....and therefore may be more willing to deal knowing if you walk you won't be back. The volume of cars a dealer moves also has something to do with it. Dealers many times get a rebate (also called "holdback") from the manuacturer refunded to them at the end of the year based on their annual volume. The dealer I used says they are 4th largest in the country. I tend to believe it. They own a half dozen dealerships on just the strip where I bought.

    So you will know, even this dealer started out at $480/mo (including taxes). Doing one's homework and letting the salesman know other makes like the Honda S2000 (better ratings) are on your list is important. Also, having a strong constitution for negotiating doesn't hurt. Lastly, I went in at the end of the day on the last day of the month and end of the sales quarter when sales goals are more important. Remember, to them you are just a sale. They need to know that to you, it's just a car and there's always another one somewhere else. Sorry to be long winded.
  • ny234ny234 Member Posts: 2
    I have a quote for a 2008 Touring softtop MSRP $23,630 (no extra options) but I think I can negotiate a better 24 month lease deal via a lower Cap Cost. Deal includes $1,000 rebate, no security deposit, Quote included .00100 money factor. Just pay tax, plus $645 delivery/destination, plus $652.50 fees. Dealer just took $500 off the MSRP toward the sale price / initial cap cost (sale to Mazda Credit). Question #1, should I offer to do the deal if they reduce the $23,630 to $22,900 or better, $22,800 (all other things stay the same)? Edmunds shows the invoice at $22,501 and the True Market Value at $23,201. How many hundred over invoice is appropriate?
    Question #2 is what should the acquisition fee be in New York for Mazda Credit? I am in upstate NY. Still too cold for a convertible.
  • adelgreenadelgreen Member Posts: 1
    If it helps to compare slightly, I was recently offered this - haven't decided what to do yet.

    I have searched for the Miata you are interested in and found a couple with the following options:
    2008 Miata Grand Touring 6spd manual transmission, Premium Package and Suspension Package, Stormy Blue.
    MSRP $27,275.00
    Sale Invoice $25,337.00
    Less -100.00
    Processing 99.00
    Temp Tag 15.00

    Total $25,351.00

    Now that you have moved to a soft top you may want to lease thru Mazda. You can receive a $1,000.00 rebate on soft tops when leasing with Mazda.
    There is no security deposit. There is a $595.00 acq. fee but the rebate absorbs that. Mazda money factor is .00101. The residual for 3yr 15k per year is 52%.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hey wayde. Mazda's lease program varies by term and mileage allowance. You never mentioned what any of these specific variables are, so for now I will assume that you are interested in a 36 month lease of a 2008 Mazda Miata with 15,000 miles per year. The buy rate lease money factor and residual value for such a lease are currently .00051 and 52%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of it through Mazda Credit.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Welcome pmrt. You never mentioned the selling price of the Miata that you are interested in leasing. This is an important number 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 the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I am sure that either myself or another community member will be happy to give you their opinion of this deal if you let us know what this number is.

    Mazda Credit won't provide you with any sort of discount for paying your lease a year at a time. It will provide you with a reduction in the money factor that is being used to calculate the interest portion of your lease payment if you pay for the entire thing in advance. The last time that I checked it provided a .00041 money factor reduction for 2 year leases that are paid for in advance, .00083 for 3 years, and .00125 for 4 years.

    You may be able to get the dealer to throw in a few oil changes for free. I personally would forget about the free oil changes and concentrate on getting the absolute lowest selling price that I could on the car.

    As I mentioned earlier, the lower your car's selling price is, the lower your lease payment will be. Unfortunately, your car's end-of-term selling price has nothing to do with the selling price that you negotiate. It is based upon a percentage of your car's full MSRP.

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  • hward1hward1 Member Posts: 2
    Hello - i was wondering what the money factor and residual is on a GT for May - can i negotiate on the residual or should i - if not how much is it now --- would the lease of a GT be better that on Touring --- i really want leather but thats it from the standard Touring --- thanks ;););)
  • hward1hward1 Member Posts: 2
    hello - that sounds like a great negotiation on your part Howdie--- i am interested in the same car --- how did you come up with that lease price --- money factor ect. --- i am having no luck --- thanks Heath
  • dmcgettigandmcgettigan Member Posts: 1
    Is the $1000 lease cash back from MAC still in affect, I can't seem to find anything about it. And is it only for certain trim levels?

    I am looking at an 08 sport w/automatic MSRP $25615 and I have access to S-plan. Is it unreasonable to think i could get away with around $250-275 a month payment? I am looking for a 24 month lease nothing down and 10.5 or 12k a year.

    Thanks
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