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Mazda CX-7 Lease Questions

CarMan@Edmunds[email protected] Posts: 38,514
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Mazda CX-7. Thanks.

Smart Shopper / Prices Paid Forums


  • Car_man,

    Do you know the current money factor and residual on this special "First Choice Buyer’s program" for the CX7?

  • Hi invaliduser. I have seen this vehicle's lease program, but I have not seen any information on its "First Choice Buyer's program." I'd be happy to provide you with the details of its current lease promotion if you tell me exactly which CX-7 model you want, how long you want to lease it for, and how many miles per year you need to be able to drive it.

    Prices Paid Forums
  • zoom49zoom49 Posts: 76
    special "First Choice Buyer’s program" for the CX7?
    First Choice Buyer's program was the ability to "pre-order"
    the CX-7 before they went on sale and were deliivered to the dealer. We purchased our CX-7 in October 05 and it was in our Dealers first delivery. They provided us with e-mails to keep you up to date on your order and some other pre order gifts along the way. :)
  • s2kpilots2kpilot Posts: 2
    Hi Car man, we are looking for a FWD Grand Touring with the tech package.

    24month lease

    We're having a hard time finding FWD GT combos in the color we are looking for, Copper Red / Sand. Maybe other's are looking for the same combo too. If you happen to know of any in the North East please feel free to post a quick reply here.

    Thanks -- tom
  • Hi Tom. I have not been to any Mazda dealers in a while so I don't know of any specific dealers that have the CX-7 as you want it equipped, but you should ne able to find the one that you want if it exists by searching dealer inventory at the following site:">Mazda Search Inventory. You also may be able tito find another community member who has seen the vehicle that you are interested in by asking around in this discussion: "Mazda CX-7".

    Prices Paid Forums
  • dhager1dhager1 Posts: 1

    I got some numbers on a cx7 awd GT with tech do they compare?
    selling price $31,331, 24 month lease 12k mi/ yr residual 72% .00286 MF
    $0 $425 month however i have $4000 in equity on my acura TL trade and would put down the $4000 making my monthly $231. the car had tech pkg, auto dimming mirror/homelink and rear bumper guard pkgs.
    I would appreciate some feedback asap as i'm ready to deal!

  • tinycadontinycadon Posts: 287
    One of the things I discovered about leasing that they never tell you is if you get into a accident and the car is totalled you do not get back the book value, only what you owe on the car. If you put that $4,000 towards your lease and you total the car the next day, you will completely lose that $4,000!!! The idea is to put AS LITTLE DOWN as possible, pocket that $4,000 and use it to pay the monthly lease payments while collecting interest on it in a savings account. There are some online savings accounts paying 5% interest right now. Don't try to lower the payment, it could end up costing you dearly if something happens. Good Luck.
  • maximafanmaximafan Posts: 592
    I've been wondering how that works when
    you lease a car and the car gets totalled.
    It just happened to me yesterday evening at
    around 6:15 p.m. My 2002 Maxima go T-boned
    near the right front side from a young college
    kid running through a stop sign. The impact
    caused me to veer into the oncoming lane and
    veer into the grass toward a large building.
    I ended up running into three four-foot cement
    poles that smashed in the front grill, buckled
    the hood, cracked the entire windshield and
    making both air bags go off. I would imagine
    the car will be a total loss, although you
    never know.
    So if I'm understanding you, I've got 10
    payments left on my Max @ $369.28 on my lease. So what happens then? Would I get paid $3,692.80 or does something else get added in there to completely pay off the lease and end up paying it off early? Any thoughts on this would be appreciated, since I'm not sure how this is going to work out and this is the first car I've ever leased.
  • vbbuiltvbbuilt Posts: 498
    OMG, I hope you're OK? So sorry to hear about this! :sick:

    Within the last two years, I've been in two severe accidents that totalled two new cars...luckily walked away with only a broken collar bone (impact was severe enough for the shoulder belt to snap the collar bone) in the 1st and 6 months later, happened again to another new car. Walked away with no injuries on that one. Both accidents caused by hit n' run a**holes. In both instances, I had purchased those cars with GAP insurance. Saved my butt financially.

    In your case, I'm assuming your insurance will cover up to the blue book value of the car, less your deductible. Not sure about your deposit, though. I wouldn't think you'd be liable for your remaining 10 payments on the lease, since the value of your insurance should cover the loss.

    I'm sure you've already checked with your insurance and the lease company?

    Here's a silver you can get the CX7? Yes? ;)

  • tinycadontinycadon Posts: 287
    Your lease will get paid off with the insurance, as long as the book value is greater than what you owe. But if the book value on your vehicle is say 20k and you only owe 17k, you do not get the 3k difference as if you owned it, just the 17k to pay it off. That's why you should never try to put $cash$ towards a lease to lower the payment, you would lose that down payment in the event of a total loss accident.
  • maximafanmaximafan Posts: 592
    Thanks, guys for your concern, and thanks for
    the info. I've spent most of today on the
    phone with my insurance company, the other
    driver's insurance company, and I called Nissan
    Motor Acceptance Corp. to let them know and to
    try to understand how this might work.
    Luckily, when I leased the Max, I got cash back. I was supposed to get $1200 cash back
    and they held onto $600, I assume, for the
    security deposit. So, thank God, no money
    was put down on this lease.
    I was also told by the person I spoke to on the phone with Nissan that all leases that are done through NMAC have gap insurance automatically built in. So I would imagine if the car is totalled out, I'll probably be able to walk away as if I had completed the entire terms of my lease, possibly less a $500 deductible.

    Now, on the other hand, the adjuster may tell
    me that the car is repairable. I don't know.
    I can't imagine how things might go if I end
    up driving a car that may have possibly had over $12,000 in accident repair and live with
    it for the next six or seven months.

    I am getting more and more sore as the day
    passes. I had to get a prescription for some
    of that stronger Motrin stuff.
    I will keep everyone posted on the progression
    of all this. Thanks
  • Hi Car_Man.....if you could supply MF & Residual on:

    CX-7 Touring
    MSRP: 31,030
    36 Month Lease / 12,000 mile


    CX-7 Grand Touring
    MSRP: 28,045
    36 Month Lease / 12,000 mile

    Thanks in advance!
  • cx7byercx7byer Posts: 9
    After much negotiation, I managed fifteen hundred off my grand touring copper red with tech and preferred packs and AWD. Now, I'm wondering, should I lease instead? What would you do? How are the lease rates?
  • Here you go, theomegaman. If you were to lease a 2007 Mazda CX-7 Touring AWD through Mazda Credit right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00286 and 60%, respectively. The numbers for an otherwise identical lease of a 2007 CX-7 Grand Touring AWD should be .00286 and 59%.

    Prices Paid Forum
  • I am looking at leasing the CX-7 Sport FWD with the Moonroof/Bose package. I get the S-plan price and was quoted:

    MSRP: $26,245
    S-Plan price: $24,678
    2 year lease - $479.89
    12,000 miles/year
    zero [email protected]
    Residual: 72% = $18,896.40
    Money factor: 0.00283 = 6.7% APR
    Mazda American Credit

    I have never done a lease and am new at this, but I found a site that seemed to have a lot of good information. I used their formula on this page:

    When I do the calculations with those numbers I get $364.22.

    I wonder if those formulas are correct and if so, where is the extra $115.67/month coming from?

    Can anyone give me any advice, opionions, guidance?

    Thanks in advance! :shades:
  • wjbushsrwjbushsr Posts: 135
    As a fellow S Plan buyer, I say "Welcome Aboard!"

    But here's the thing; from experience I say, DROP THE MOONROOF / BOSE option and get the GT W/ TECHNOLOGY PACKAGE!!!

    On the S-Plan you're looking at a 29K invoice/ buying price, that's only 3 grand more. The Tech Package GT however adds HID headlights, Climate Control AC, backup camera and the DVD Navigational, Bose & Moonroof combo with a MUCH better display than the other Bose headunit PLUS it not only plays MP3s, but it shows you the artist, album and song info! There's more to it, but I think if you read around the site, you'll get the jist of it.

    For the money; go a little bit further and get the GT!

    Trust me on this, the Tech Package has ALL of the bells and whistles! ;)

    On the lease deal; if you are SURE you will only stick to 12000 a year or less, then jump on it!
    BUT find out what the penalty miles are {miles over the contract limit are charged to you, some agents charge up to 20 cents a mile!}
    Also there may be hidden costs to look at, such as the upkeep, maint. records {some agents require proof of oil changes}, making sure the paint and body have only "normal wear and tear", but the biggest thing to remember that unlike a purchase, if your credit should fall on hard times, the leaser can deny you a great APR at the end of the lease if you want to purchase.
    Leasing is great if you can stay within the perimeters, but there are horror stories of people getting fleeced on a lease because they didn't read all of the contract. Do a search for yourself before you commit!

    Good luck!
  • adam0010, thank you for that link. It is very informative. I also have S Plan and considering a CX-7. I've never lease a vehicle, but am interest in find out how it works. But based on the info in that webiste, I think
    your calculation of $364.22
    (((24678-18896.4)/24) + ((24678+1889604)*.00283))) assumes the Net Cap Cost is just your S-Plan price. Based on the information on that website, the Net Cap Cost would include any fees, taxes and gap insurance. And if you live in TX or IL, you need to pay tax for the whole amount of the vehicle. Without knowing exactly what fees and taxes are charged, it is impossible to know how they come up with the $479.89 monthly payment or rather it is a good deal or not.
    For those who lease before, please share your experience and knowledge.
  • Greetings adam0010. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    I just calculated a 24 month lease on this vehicle based upon the information that you provided in your post, an MSRP of $26,245, a selling price of $24,678, a money factor of .00283, and a residual value of 72%, and I came up with a zero down, pre-tax payment of around $364.22. As you can see, this is the exact payment that you came up with. It is difficult to say why the payment the dealer that you are working with quoted you is higher. Perhaps it includes sales tax. The dealer may have also rolled Mazda Credit's acquisition fee into your vehicle's capitalized cost. I would ask the dealer to explain why the payment they quoted you is so high or get a quoted on an identical lease form a different dealer to see if it is the same.

    Prices Paid Forum
  • wilgwilg Posts: 3
    I checked out the CX-7 today and was pleasantly suprised. I've been looking at the murano, but considering the price I'm becoming a CX-7 fan.

    I requested a quote for a 0 down, 36 month lease on the GT package. The numbers seemed fair, Cap Cost, resid., except for the money factor.

    When I was shopping the murano, I was getting a money factor of .00058 through Nissan, Mazda financing was offering .00278, a considerable difference. I asked the sales guy why the rate was so high and he said it had to do with the CX-7's high resid. (60 %) This drove the price of the lease above the quote I was getting for the murano, which had a cap cost of about 4k more.

    How can nissan offer such a low money factor? Does the resid. have anything to do with the rate? Are there 3rd party lease finance companies that can offer a better rate?

    Any help would be appreciated.
  • audia8qaudia8q Posts: 3,138
    How can nissan offer such a low money factor?

    The Murano is currently being heavily Nissan is 'buying down' the money factor. Its an around about rebate essentially. The CX-7 is brand new and hasnt been around like the Murano so like most new models there arent any special incentives/buy-downs yet.

    The residual may or may not have something to do with the rate....the residuals are set by ALG and each mfg may opt to enhance the residual....sometimes they enhance the residual side but not the rate...some mfg may not enhance the residual but might buy down the rate....
  • wilgwilg Posts: 3
    Thanks for the info audia8q. That makes sense.
    Do you think nissan is discounting it because the new year model will be out soon? Any thoughts?
  • audia8qaudia8q Posts: 3,138
    Do you think nissan is discounting it because the new year model will be out soon? Any thoughts?

    year end usually plays a role. If it was the first year for the Murano they wouldn't be offering those kind of deals. The waters are getting deep..It seems everyone has a new 'crossover' this year.. so the Nissan is the old maid of the bunch...To counter everyone elses new products they offer strong lease deals to make their vehicle more attractive.

    When a new vehicle hits the market, the mfg's like to sell the the product ages and the design gets a little dated they start to sell the deal.
  • been looking at getting into a cx-7. I am new to leaseing but it seems to be the way to go for me. I went to the mazda dealer here in Madison WI and looked at the grand touring. The "special" they a running is a 299.00 lease 36 months. The downside 10500 miles and 2900 down. Can i do better, and can I negotiate better mileage without increasing the price to much.
  • Greetings noleaf. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. It is important to understand exactly how leasing works so that you can get the best possible deal on your new vehicle.

    You never mentioned the selling price or MSRP of the CX-7 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 vehicle'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 of this deal if you let me know what these numbers are.

    You definitely can increase this vehicle's annual mileage allowance to 12,000 or 15,000 miles per year. Doing so will lower its residual value and cause its monthly payment to increase slightly.

    Prices Paid Forum
  • gene66gene66 Posts: 13
    I am shopping around for a lease deal for a CX-7 Touring or Grand Touring in Central Florida.
    This is what I got so far:
    Lease terms: 24 months, 10,500 miles/year (enough for my wife):
    Residual: 70%
    Money Factor: 0.00204 (with top tier credit score)

    The dealers seem to be ready to take a lot off the MSRP. More than $2000. That's below invoice! I still have to pay $595 in aquisition fees. Beware of other hidden dealer fees!!! The only other fees I am willing to pay are tag and registration.

    I will keep you posted on how it goes and what the final monthly payment will be.
  • fonefixerfonefixer Posts: 247
    Just got a quote from a "one price" Mazda dealer:

    msrp: $30,765.02
    24 months---pre-pay entire lease upfront. 15,000 miles/yr.

    acquisition fee: $595.00
    refundable security:$350.00
    MN. license/registration: $389.75
    MN. sales tax: $514.70
    money factor: .00094

    selling price: $27,765.00
    residual price: $20,920.20 68%
    $27,765 - $20,920.20 divided 24 = $285.20--depreciation fee
    $27,765 + $20,920.20 x .00094 = $45.76 --finance fee
    $330.96 x 24= $7943.04
    $7943.04 +
    $595.00 +
    $350.00 +
    $389.75 +
    total fees for 2 years leasing: $9792.49
    Figures out to: $408.02/mo., just payable upfront!
  • fonefixerfonefixer Posts: 247
    Your money factor rate of .00204 matches what I found. Best 24 month lease on a grand touring Cx-7 msrp of $30,340.00 is $10,170.00 including all fees/taxes. Comes out to 0 down, $423.75/ mo. for 24 months.
  • gene66gene66 Posts: 13
    I have just leased a 2007 Mazda CX-7 Grand Touring.
    24 month lease, 10,500 miles/year.
    MSRP $26,895
    Cap cost $24,616
    Residual $18,826 (70%)
    Money Factor 0.00204 (4.9 %)
    Payments $329/mo + tax
    ONLY $150 due at signing (which included first month payment, tag and registration).
    My understanding is that Mazda Financial is offering $1000 lease cash support. So there was probably room to bring down my payments to $315-$319/month. But I was pretty happy with the excellent service at the dealership, so I did not feel like haggling to the last penny.
    I hope this helps someone else, although Mazda might change their lease programs in Nov. They may offer a better deal, who knows...
  • vbbuiltvbbuilt Posts: 498
    Only 10K miles a year?

    You must only drive to the neighborhood grocer. :P

    I've had mine since July (4 months of driving) and have nearly 10K miles on mine and that's predominantly commuting 30 miles daily, plus chores and weekly trips to DC (average 90 miles round trip).

    It'll be interesting to see if you can keep your milage that low.

    How much do you have to pay if you exceed your milage?

  • I was just offered the following lease deal on a GT AWD model with Tech package and couple other goodies:

    The breakdown was 24/mo , 12K/ year, MSRP $33,000, Selling price $30,000. With $1000 drive-off the monthly payment was $450. Good or bad deal?
  • wjbushsrwjbushsr Posts: 135
    12K a year is a critical mileage. If you go over that amount you wind up in the "pay through the nose" category on mileage.

    I would find out what the excess mileage cost is, sometimes they can be pretty steep, as much as .20 a mile over the allotted mileage.

    Read the contract carefully, and make note of the mileage penalty... 12K is not nearly enough miles for the average driver.
  • I'm not worried about the mileage. I have been averaging 10k-11k a year and that won't change. I am more interested in what you guys think about the monthly payment and the sales price.
  • franzfranz Posts: 16
    Not a good deal, at least compared to mine. I got my CX-7, GT, AWD, Tech Package, Wheel locks, 12k miles/yr, 24 month lease for $397/month with no money down except title, plates and first month pymt . Money factor was 0.00196. Residual was 70%. Cap cost of $30299 (invoice) + $595 aquisition fee = $30894 total financed on lease.
  • That's a great deal but your numbers don't make sense. If your adjusted cap cost was $30894 and the money factor is .00196 the monthly payment comes to $463. I used this calculator which I know to be accurate,
    My numbers were very similar except for the money factor, I was quoted .00177 and the residual, I was quoted 69%. My $1000 was also going towards title, plates and first month's payment. The remaining $212 was cap reduction. When did you get your deal?
  • franzfranz Posts: 16
    Oops. I gave you the wrong money factor. It should have been 0.00116. Of course residual is based off the MSRP which was $32,640. Does that make more sense? I leased it on Oct 29 form Herzog-Meier Mazda in Portland, OR.
  • Yes, that's more like it. I come up with $397/mo before taxes. You guys don't pay sales tax in Portland so a similar deal in Socal would be $428/mo.
  • bkssdbkssd Posts: 1
    Is this a good deal? From a San Diego dealer:

    rice: 22490
    Bank Fee: 595
    Total cap cost: 23085
    security deposit: none
    rebate: none
    terms:24 months
    mileage per year:10500

    Payment: 275.32
  • You can do better than that if your credit is decent. Try to get the same payment with only $750 down. Shop around there are a lot good deals on the CX-7 right now, expecially for the base model that you are interested in.
    If the San Diego dealers are not willing to go lower call some Orange County dealers.
  • acp18acp18 Posts: 2
    First time posting and leasing - have read the edmunds 10 steps to leasing and this sounds like a good deal, but please give input! Received the following quote from a dealer in Arlington, VA for a sport FWD with moonroof, Bose 6 CD and Driver Power Seat:

    Price: 24,600 (MSRP is $26,245 and TMV is $26,054)
    Acq fee: 595
    Doc Fee: 299 (I tried to get them to waive this, but they don't seem to be budging)
    Tags: 53.50
    Gross Cap Cost: 25,547.50
    Security Dep. 0
    Cash down: 2,000
    Residual: $15,484
    No trade-ins or rebates
    36 months/12K
    Payment: $278.41 (plus $15 for VA property tax)

    Final question - I know Edmunds recommends the gap insurance and I understand the basics of it.... how much extra does it generally cost and do the majority of people who lease get it?

    Thanks for your time!
  • Welcome, acp18. Reading the 10 Steps to Leasing article is a very smart place for someone who has never leased before to start. The more you understand leasing before visiting any dealers, the less likely it is that you will be taken advantage of. It makes sense to get gap insurance on a leased vehicle. Mazda Credit, like many other banks, already automatically includes gap insurance on all of its leases at no additional charge. So you are already covered. Make sure not to pay for it twice.

    Prices Paid Forum
  • acp18acp18 Posts: 2
    Thanks Car Man. Good to know. How about the lease deal - sound OK to you?
  • jdwksujdwksu Posts: 27
    Some dealers are having specials right now on CX-7. Not sure if your is or not. I will post the dealership webpage so you can take a look yourself. I thought the purchase price of yours seemed to me a little high. CX-7?open- - document

    2007 MAZDA CX-7:


    2.9 % APR (12-48 MTHS), 3.9% APR (49-60 MTHS), 5.9% APR (61-72 MTHS)


    FWD SPORT $189/MTH!

  • You're welcome, acp18. The selling price that you were quoted appears to be right around dealer invoice, which is a good deal even when the irritating $299 doc fee is added in. Is the $2,000 that you are putting down on this vehicle just to cover things like its first month's payment, security deposit, and acquisition fee or is some of it being used as a cap cost reduction? I ask because I always advise consumers against making down payments on leased vehicles. Those who make them risk losing them if their leased vehicle is totaled in an accident or stolen and never recovered. Without the down payment, your monthly payment will be higher but you will be better off. You can calculate what this vehicle's monthly payment should be without any down payment by using Mazda Credit's current 36 month, 12,000 mile per year lease program of .00225 and 61% (for the '07 CX7 Sport AWD).

    Prices Paid Forum
  • I thought the "Rules of the Road" for this forum said posting dealer website links was not allowed???

    Anyway, acp18 appears to be in VA, not TX.
  • jdwksujdwksu Posts: 27
    If those are the rules of the road i was not aware of it... Sorry if it is not.

    Was just trying to provide more information for a more informed purchase.
  • Carman what do you think about this offer??

    It is a 2007 Mazda CX-7 Touring AWD SUV in Galaxy Gray with the Moonroof/Bose Audio package. If you lease this vehicle for 48 Months at 12,000 miles per year, your payment comes to $430 a month with just your 1st payment due at lease signing and the residual is $14,672.50. If you go to 15,000 miles per year, the payment is $441 and the residual goes to $14,085.60 .
  • not a good deal at all. I bought the same vehicle for $28350.00 plus TT+L. You will have spent $20,650.00 on a lease plus not even be under the bumper to bumper warranty. Also, did that include taxes? Atleast at the end of the 48 months, can sell the Cx-7 and get something back. I don't think the vehicle will have a market value of 14,000 after 4 years, probably more in the 11 to 12 range.
  • thx for your response fonefixer. mazda dealers are so greedy around here (nova) eating up all of the mazdausa incentives. still waiting to hear a better deal from them.
  • kcittikcitti Posts: 10
    I have never leased a car before, and was looking at the cx-7 grand touring, 2wd, with tech package. The MSRP was $30,100. What sort of quotes should I expect for a 36 mo lease, 12k miles, have a trade in blue book value at $4500?

    What should I be able to negotiate the price down to?

    Thanks for your help!

    -First time leasor/buyer
  • cxrabbitcxrabbit Posts: 134
    If you can afford to, sell your car privately. You'll make more money than on a trade-in. For example, dealer only wanted to give me about $9,500 on my trade-in... I expect to sell it privately for anywhere from $13K-$15K.

    As for price, in NY I was able to get my price down to $29,924 for Grand Touring w/Tech Package, Sirius Satellite Radio, Remote Start and Preferred Equipment.
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