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Prices Paid: Buying & Leasing Experiences Mazda3 Lease Questions
445 messages, Last post on Nov 23, 2009 at 6:54 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: proe (Jul 24, 2007 6:13 am) 3,000 down. $356.45 a month lease for 36 months? On a $17,000 car? I remember back in 1995 when I bought a used 1995 Nissan Altima GLE, loaded to the gills. The total selling price was under $17,000 and after financing it for 60 months, and that was to purchase, not to lease, my monthly payment was only $339.00 a month. And even after my purchase, I still didn't think I got such a great deal back then. I would keep looking if I was you. I would think you should be betting under $300 a month payments based on this price.
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Replying to: maximafan (Jul 28, 2007 5:00 pm) |
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Just got home from the dealer: 2008 mazda 3 5 door, no options, manual transmission, 3yr. lease, 12000 miles per year. msrp= 18520 cap cost= 17500 residual= 56% money factor, unsure but around = to 6% interest rate was quoted 311 per month, 670 down (1st month, doc fee, registration) 311 includes 5 % massachusetts sales tax, and excise taxes for 3 years, gap insurance. Still seems a little high, what do you think? |
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Replying to: merrydinnc (Jul 07, 2007 7:21 am) Once you have a selling price that you are comfortable with, have the dealer calculate your lease payment using its buy rate lease money factor. Vehicles' money factors vary by trim level and term. If you tell me exactly which Mazda3 you are interested in and how long you want to lease it for, I can tell you what its current money factor should be. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: gf2020 (Jul 08, 2007 4:36 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: phx08 (Jul 18, 2007 11:41 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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I'm completely new to leasing and trying to figure out if this is a good deal to go with. Mazda 3 5 door Grand Touring w/Moonroof + Bose package and other additions MSRP: $23,300 Selling Price: $21,600 36 month lease, 15,000 miles a year No money down Monthly lease payments of $362 ($392 total with local usage tax). Not sure of the residual value/money factor but input would be appreciated. |
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I am trying to decide between leasing a 2007 s sport or touring, and identical 2008 s sport or touring. The only options on the cars would be moonroof 6cd pkg, and side curtain airbags on the 2007 s sport. I believe the only difference for 2008 is on the s sport, the side curtain airbags are now standard. The prices on these models for 2007 vs. 2008 are the same, and I have the benefit of S Plan pricing. I need to know what are the residuals and money factors for the 2008 s sport or touring models for 12k and 15k miles. I have, from Carman's post on Aug 1st, the numbers for the 2007 models. I am thinking that the residuals for the 2008 should be higher, but will that make for a better lease deal than on a 2007 with a lower selling price / cap cost? Lastly, the current dealer i am talking with has said there is a 500 rebate on the 2007 Mazda3, but I can't seem to find or confirm that anywhere on the net. I suspect they are just knocking 500 of my s plan price, which may not even be that great of a deal at this point in August. The MSRP on the 2007 s sport with delivery is 19870, and the s plan price with delivery is 18,550...so with the 500 "rebate" its 18,050. I can do the lease payment calculations and find any hidden profit, but I first need to pin them down on the selling price for this 2007 model, otherwise I think leasing the 2008 becomes more attractive. Any info would be greatly appreciated, thanks. |
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Replying to: tracermag (Aug 23, 2007 9:42 am) The $500 sounds like a dealer discount. Anyway, here's a little math that can help you... P = F (A + R) + (A - R)/T This is the money factor formula that solves for the payment (P). Simply plug in the known values for Money Factor (F), Adj. Cap (A), Residual Value (R), and Term (T) in months. You can use the following identity... (V + C) - D = A to obtain... V = A - C + D where... V = Agreed Upon Value (Sell Price) A = Adj. Cap. C = Amount(s) Capitalized (i.e., financed) which may include taxes D = Cap Reduction(s) Now you have found "V", the Agreed Upon Value or sell price, which is what you want. The BEST way to proceed is for YOU to determine the sell price and NOT THE DEALER... BAD IDEA! Check edmunds or kbb for MSRP/Invoice pricing. Examine my posts in the Infiniti forums to get an idea of how to construct a one page lease proposal that you can FAX/email to the dealer. It's designed to save time, money, and aggravation. I suggest that you DO NOT put cash down as a car is a depreciating asset and, if you have a total loss, it's not likely you'll recover your down payment (cap reduction). Hope this helps. John |
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Replying to: delta737h (Aug 24, 2007 4:46 am) Since I would be a ford A plan customer, and hence a Mazda S plan customer, i already know the discounted selling price / cap cost of the vehicle, except for any undisclosed dealer incentives or other discount for end of model year, which is really what I would like to find out. The dealer is "saying" the price is S plan, which is invoice price, and then less another 500 "rebate." So, my question is, would 500 below invoice be a good price on this 2007 model at this point in August, or should one expect a larger discount? I have no intention of paying doc fees, wear care, ad fees, etc., or any other hidden profit - i give them 100 to add to the selling price to get adjusted cap cost for title and registration fees and that's it - that covers the 60 dollars or so in true costs from the state and gives the dealer more than fair amount to have a runner get the papers filed, and more dealers are doing it electronically now in Ohio anyway. And tax is added to the monthly payment. I think you and I are saying the same thing, i just want to pin down the best selling price BEFORE i show them why their math is bad. Here is a tip which is a variation of your one page lease proposal: I put the formulas into an Excel spreadsheet on my laptop. On buying day, the laptop comes to the dealer with me, but stays in the car until i know what the proper selling price of the car is. Then after i get the dealer's payment, which never seems to add up based on the agreed selling price, then the lappy comes in and i let them try to explain why their math skills are so bad.  Thanks again for taking the time to respond.
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