2016 Mazda CX-5 GT AWD Lease Questions

tritus13tritus13 Member Posts: 14
edited August 2015 in Mazda
I am looking at leasing a new 2016 CX-5 GT AWD and was hoping to get an idea where the lease terms should fall.

Looking for 12k miles a year for 36 months In Columbus, OH.

First question is What is the MF and Residual for 2016 CX5 GT AWD, 36/10k and 36/12k. Located in Columbus, OH. I also never leased a vehicle before so not sure if I should be paying the MF that is quoted to me or negotiate on it.

I was in the dealership and got the following quote.

MSRP:30,605
Selling Price:29710
Trade allowance:6600
Doc fee:250
Sales Tax 510.73( Sales tax should be 7.5% in the area that we live in so not sure how they got to this number seems a little low since the trade difference is $23,110)


The sales person did not give me the MF that they used but the RV is $18,363. For a total purchase price of 23,919 and 6600 down. I am probably leaning towards a $1600 down deal but will need to go back to them. Mean time with the numbers mentioned above I tried to calculate the MF and got something around.0014 with %60 RV not sure if that is true since I ve been seeing .00013 or .00060 on the most recent posts.

If that is the case and they are quoting me a higher MF how easy is to negotiate those down with a Credit Score 780.

Thank you!

Comments

  • MichaellMichaell ColoradoModerator Posts: 207,840
    tritus13 said:

    I am looking at leasing a new 2016 CX-5 GT AWD and was hoping to get an idea where the lease terms should fall.

    Looking for 12k miles a year for 36 months In Columbus, OH.

    First question is What is the MF and Residual for 2016 CX5 GT AWD, 36/10k and 36/12k. Located in Columbus, OH. I also never leased a vehicle before so not sure if I should be paying the MF that is quoted to me or negotiate on it.

    I was in the dealership and got the following quote.

    MSRP:30,605
    Selling Price:29710
    Trade allowance:6600
    Doc fee:250
    Sales Tax 510.73( Sales tax should be 7.5% in the area that we live in so not sure how they got to this number seems a little low since the trade difference is $23,110)


    The sales person did not give me the MF that they used but the RV is $18,363. For a total purchase price of 23,919 and 6600 down. I am probably leaning towards a $1600 down deal but will need to go back to them. Mean time with the numbers mentioned above I tried to calculate the MF and got something around.0014 with %60 RV not sure if that is true since I ve been seeing .00013 or .00060 on the most recent posts.

    If that is the case and they are quoting me a higher MF how easy is to negotiate those down with a Credit Score 780.

    Thank you!

    .00013 and 60% / 61% for CX-5 GT AWD. Can't go any lower than that on the MF.

    We do not recommend putting money down on a lease - if the car is stolen or totaled, you lose that money.

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    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • tritus13tritus13 Member Posts: 14
    Thank you very much for the quick response!

    As I mentioned this would be my first time leasing a car so I am not sure what that .00013 number is. Is that what Mazda Financing provides the financing and if I pay anything higher than that it is basically profit for the dealer? If that is the case what are my chances of actually just paying .00013 which I believe is around .312% APR.
  • MichaellMichaell ColoradoModerator Posts: 207,840
    tritus13 said:

    Thank you very much for the quick response!

    As I mentioned this would be my first time leasing a car so I am not sure what that .00013 number is. Is that what Mazda Financing provides the financing and if I pay anything higher than that it is basically profit for the dealer? If that is the case what are my chances of actually just paying .00013 which I believe is around .312% APR.

    The dealer is allowed to mark up the MF for extra profit. You, of course, don't want that.

    Lots of Mazda dealers - it only takes one to make a deal with the terms you want.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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