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How not to get burned on the lease ?

1wildcat1wildcat Member Posts: 1
edited February 2016 in Mazda
Have 2015 CX-5 leased with 30,000 miles (lease started in Aug. 2104) - wanting to get out of lease and buy 2016 CX-5. 2016 MSRP is $24,495. Balance on 2015 is $18,899. Estimate per recall is $15,000 for trade in plus tag,taxes, etc. gets the deal to $30,000. The average paid is $23,730 for the 2106. To get out of the lease, the dealership says they won't budge lower than $380 a month payment financed through Chase. Too many typical numbers to keep straight to determine what is a fair deal for me and dealer.
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Answers

  • brian125brian125 Member Posts: 5,244
    edited February 2016
    Try to get out of your leased vehicle at Swap lease.com. Otherwise you will pay for early upgrade.

    500 below your models dealers Invoice price plus any incentives / rebates that apply to you is a very good deal on a 2016 model.

    How you figure out a good deal is by knowing the correct leasing numbers on your model ( MF, Residual,etc. ) Then comparing to dealers leased numbers and there breakdown . Go to Edmunds Mazda lease forum to get correct numbers . Then you will be armed and ready to play hardball with all dealers.

    23 Telluride SX-P X-Line, 23 Camry XSE

  • MichaellMichaell Moderator Posts: 267,359
    1wildcat said:

    Have 2015 CX-5 leased with 30,000 miles (lease started in Aug. 2104) - wanting to get out of lease and buy 2016 CX-5. 2016 MSRP is $24,495. Balance on 2015 is $18,899. Estimate per recall is $15,000 for trade in plus tag,taxes, etc. gets the deal to $30,000. The average paid is $23,730 for the 2106. To get out of the lease, the dealership says they won't budge lower than $380 a month payment financed through Chase. Too many typical numbers to keep straight to determine what is a fair deal for me and dealer.

    Trying to exit a lease early is, more often than not, an expensive proposition. Is the $18,899 the payoff value from Mazda?

    If so, $3900 of negative equity is a lot to carry forward to a new loan.

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