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Mazda CX-9 Lease Questions
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Comments
i'm about to lease one for my wife. ejrn@hotmail.com
2950 DOWNPLUS FIRST MONTH 417 IN OHIO WE HAVE TO PAY TAXES UPFRONT .. AND I GOT IT AT A DEALER IN MEDINA OHIO.
Dealer: Wayne Mazda of NJ
Model: CX-9 Touring AWD
Options: Moonroof/Bose Package
MSRP: $35,360
Adjusted Cap Cost: $31,232
Residual Value: $22,630 (64%)
Money Factor: 0.00101
Term: 27 months
Sales Tax: 7%
Total Monthly Payment: $399
Total due at signing: $1,250
I don't have the breakdown of what's included in the $1,250 due at signing yet. I'll have that when I pick up the car. The dealer is also picking up the remaining two payments on my current lease @ $370 a month so in theory one could probably do a bit better than what I did (i.e. lower adjusted cap cost).
Thanks to everyone for posting their info.
I want to lease a cx9 touring awd as well..and could go to wayne.
how many miles month was your lease? 12,000, or 15,000?
did you get any other options beside moon roof/bose?
was that a 27 month lease?
thanks..
do you love the car?
did you take one off the lot?
LL
Forgot to mention that the lease is for 10,500 miles a year for 27 months. I didn't get any other options besides the moonroof package. The car is not on the lot but is "In Transit" and should arrive in a few days. They gave me a VIN # for the car.
I dealt with the internet department (it says not to post names of salespeople).
I went to Mazda of Lodi and Ramsey Mazda. Wayne Mazda was by far the best to deal with.
Hope that helps.
that sounds like a great deal but i need many more miles..18,000 per year..
i know i should probably buy it, butthen need to put out so much more money.
so 27 month lease was the best deal right now i guess right?
not a 36 month lease?
LL
It is my first time on this web site.My question is What will be a good purchase price and for 36 months lease price for Mazda CX-9 GT FWD with rearview camara
Ventura County California
Thanks :confuse:
My lease was for 36 months with 15K miles per years.
The cap cost was the final sales price negotiated from the MSRP and did not include any dealer installed items.
The car I purchased had all of the options when it arrived on the lot and I did not have the dealer put in anything else.
I learned the best way to negotiate the price of a car is to contact the dealer through the internet. I will never sit in a dealership ever again while they play the game.
I love this car. It's been two weeks and I'm still very happy.
It's the ONLY dealer in Irvine, CA. Posting guidelines prevent me from mentioning the name of the dealership or the sales person that assisted me. Just make sure to speak with a sales manager.
Most dealerships will give you the invoice price without much hassle. I was able to reduce the final negotiated price $1175 below invoice. Many people are able to get around $500-600 below invoice. This is definitely possible with the FWD.
My purchase price details were:
MSRP: 39300
Dealer's Invoice Price: 36175
I started to negotiate at 33000 and the dealer agreed to 35000.
Hope this helps.
Thanks
- 49% residual
- money factor of .00150 (3.6%)
- monthly payment = $518 + tax
Question:
1. Is it correct not to offer me the lowest interest rate (I was told that my credit score had to be 740 or above to receive what they offered), based on me not putting money down, or the fact that it is for 15k miles/year
2. Is the residual this low based on mileage and term? Seems low to me
Please help.
Some thoughts to your questions...
1. Be certain of which bank the dealership is quoting. Is it the captive financing through Mazda or is it another bank? When I went to the dealership, it seemed that the credit score determined the money factor. Again, it maybe how each bank appraises your creditworthiness. As an FYI, I used Mazda's captive financing.
2. I have a 3 year lease with a slightly higher residual (52%). Residuals could change month after month. With 15K, the residual on the CX-9 would have been 50% for me back in December 2007. Again, refer to the previous thought as to which bank is the dealer quoting. I didn't see high residuals for many other CUV/SUVs, unless if you go down to a 24/27 month lease obviously! Even the higher end vehicles like the Mercedes Benz GL had a residual of about 53-54% on a 3 year lease.
As always, know your credit score before you go to the dealership. You can also call ahead and find out what the money factors and residuals are for the CX9 for Tier 0, 1, and 2. This should help with your math!
Good luck!
I would like to that you for your great explanation it sure will help
Alex
MSRP 37,765
Negotiated Price: 34, 136
$2500 down cap cost reduction
$750 rebate
53% residual
Monthly payment with all sales and state excise tax $408.36 36 months 36000 miles
The MF was .00088
We're real happy with this deal.
You got a great deal, you have a 1 to $92 lease ratio which means that every dollar you pay a month = $92 of the MSRP. The higher this number is the better (although with all things being equal the ratio factor ignores money down so if you compare your lease to someone else's make sure you level the down payment) click on my user name and see my postings on Leasing Economics. Just a tip that dealers will never give you a $100 to 1 ratio or it is very unlikely assuming an average of 2500 out of pocket. A good rule of thumb is if you ration is 90+ you are in good statue.
dip007 -
The down payment is a huge factor. So far my lowest deal s $450 a month with no down payment. Thats on a AWD GT with Bose/Moonroof ,BSMS, Homelink and Cargo Cover.
MSRP = $37780
Monthly payment = $450
MSRP/Payment = 83.9
However when I factor the down payment in dino's deal, these deal is better. correct me if I'm wrong.
Also does anyone know exactly what dealer incentives Mazda currently offers? I was under the impression that all they have right now is the $1000 marketing incentive?
The down payment is a very huge factor in this ratio and must equal the variable being compared. If you are paying 0 down you must deduct your monthly payment by $13.50 per 500 down (for a 36 month lease) to match whomever price you are comparing too. For example, Dino put 2500 down to do a comparative analysis on the payment ratio we must make the variables equal: to compare let us say that you are putting 2500 down.
MSRP = $37780
Monthly payment = 450 (-$67) = $384 per month
Down = 2500
MSRP/Payment factor = 98
You are actually almost close to $100 per 1 dollar owed on this deal which would make a dealership (whom I've consulted with in the past on this analysis) very angry.
Both consumers (buyers) and suppliers (dealers) can use this ratio to leverage deals.
You would have gotten 385 a month compared to what he paid.
Is it possible to compare 2 leases with different lease lengths? Example 27 vs. 36 months.
That deal that I posted is for 27 months.
27 months = 64% Residual and 36 months 52% residual. So from my perspective doesn't it make sense to lease for 27 months?
36 month lease:
For every $500 down -/+ $13.50
27 month lease
For every $500 down -/+ $18.50
Your overall payment may also change based on the money factor between the 27 and 36 month lease. But is actually irrelevant once you have the final per month price. You get your ratio based on the bottom line.
after all is said and done with negotiation, try to get based on invoice and the rebate applied.When they spit the number at you per month divide it by the MSRP to see what your ratio is. My advise is that you want to be over a 90 to 1 ratio without putting over 2500 down (with all fees included).
So if your car is 39K try to get the monthly fee based on 36 or so and let them calculate all the mumbo jumbo. Just so you know a ratio of 92 is 424 a month with 2500 down.
msrp 39325
selling to me 36045
I have a trade a 2000 vw jetta vr6 giving me $3500.00
no other money down
payments 400.00 a month for 36 months with 12000 miles a year
i don't know what the residual is or the money factor
39325 MSRP
$2,500 down
400 per month (+27 taking 1000 off the down payment) = 427 pm
Ratio = 92
You have a pretty good ratio here on this lease payment (the dealer is most likely cringing). You may be able to improve the ratio a bit by getting competitors in the mix (say you were offered the same deal for the Highlander Hybrid or better) that always pisses dealers off.
08 GT FWD (Bose/MRoof / GT Assist / Blind Spot Mon)
MSRP 38925
Sell 36205 - 750 Rebate 35455
Res 49% 36 at 15K a year
MF .00066
Pre Tax Payment 539.44
Out of Pocket is 795 total
Any thoughts?
There are others on this post that have gotten the CX9 in the 90's. My advice is to take the time and shop around and get competitors in the mix - I would not get a lease on any vehicle unless you are in the 90+ per lease dollar ratio. To make it simple - for this car and 2500 out of pocket shoot for a 425 a month or 1500 out of pocket shoot for 455 a month.
MSRP: $40,085
Term : 27 mos
Residual: 63% @ 12k mi / yr
MF: .00101
Due At Signing: $1,425
Payment: $463/mo including tax
If I'm following dip007 I have a MSRP/PYMT ratio of 94.7 as follows:
$40,085 / ($463 - $40) where $40 deduction = (($2,500 - $1,425)/$500) x $18.50
Please confirm if this was as good a deal as I thought.
Thanks
is not factored in for the Upfront Cash.
So a value of 90 with a high upfront cost would seem to be diminished.
m
I was just quoted this cost for '08 Mazda CX-9 FWD, GT Assit Pkg.,
Rear Seat Ent./Bose & Blind Spot Mont. Sys.
MSRP- $39400.00
Cap. Cost- $36350.00
Drive Off- $1050.00 (includes 1st month payment)
Term-36 Mos., 12K Mi./Year
Payment-$562.00 (Includes Tax)
Residual-$20,082.00
Is this a good deal? I'm going through a auto broker. I live in So Cal.
Thank you very much, as I truly do not understand the formulas of what
determines a good deal.
A great deal is what "kscap" got :
MSRP: $40,085
Term : 27 mos
Residual: 63% 12k mi / yr
MF: .00101
Due At Signing: $1,425
Payment: $463/mo including tax
Thank you very much for your reply. I will have my broker "sharpen"
his pencil. If he says he can't do better, what does everybody recommend.
and you have to decide whether you are willing to pay him for his time
or if you have the time to do it yourself.
Email the all the local dealerships within a reasonable
driving distance and you can either wait to see what they give you,
or define the parameters that will win your business
(i.e. if you are please with what you saw in these forums,
you could suggest that (or slightly better) for your request)
m
Take the MSRP divide by 90 and then divide by 95 or use your band range however you see your high/low. In negotiation your High and Low bottom lines need to be strategical. Say the MSRP is 40,000 with a set variable of 2500 down:
95 ratio = 416 per month
90 ratio = 444 per month
This is your "good deal" range. Remember that a good deal is subjective when only your value for an object is known. Forums such as this show the shared sense of value for items thus revealing the comparisons between deals.
Dealers want their money and don't care how they get it and often do not consider the time value of money when finalizing sales (not firms). If tht were the case then dealers would want 5000 at minimum down on every deal. With that said, however you slice it; for every 1000 down = $27 less a month on a 36 month lease (Don't let them tell you otherwise with excel calculator tricks). For a 24 month lease every 1000 = $41 a month. Your ratio of 94 is very very good. Sleep well at night knowing that you got the best of the dealer and he is cursing you at this very second. Me as a sales manager would look at this ratio and say "and just how are we going to survive until Memorial Day selling cars like that"? In the end, a unit sold an empty space on the lot. Win-Win deals are always good.
08 GT FWD (GT Asst., Bose/MR, Blind Mon, Mirror)
Msrp 39825 ( White)
Sell 34705 - 750 = 33925
Res 49
MF 2.11 (.00088)
36M 15K
$795.00 Due at signing.
Pre Tax - 474.38
W/Tax 507.59
This 1K under invoice. I wanted 2K under. They say they can't do it. Should I hold out for maybe 1.5K or can I get 2K under with a little work?