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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: tracermag (Aug 24, 2007 8:42 am) One other area that I forgot to mention and that is the reserve level associated with the cost of money (i.e., money factor, interest rate). When I'm in the data collection mode, I always ask the dealer for the rate with 0% reserves. That rate is called the base rate or buy rate. Reserves work in much the same way that points do on mortgage loans. It is a form of dealer participation ( hidden profit) where the fund provider compensates the dealer for writing the lease at a higher money factor or interest rate. And so, reserves is another potential profit center for the dealer. For example, a fund provider's tiered rate structure might look something like this... 0.00130 + 0% reserves 0.00150 + 1% reserves 0.00170 + 2% reserves A 2% reserve level means that the dealer receives 2% of the adjusted capitalized cost (excluding any acquisition/bank fee). The customer never sees the 2% because it's embedded in the money factor or interest rate. So, I suppose that would be classified as financing hidden profit. Aware of this "hidden profit", I always ask for the buy rate. If the dealer insists on 1% or 2% reserves, I simply deduct the dollar equivalent from the agreed upon value. Sort of like the Rob Peter to Pay Paul Principle. They can jack up the rate as much as they like and I just deduct it from the sell price and use the result as my new sell price. John |
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Replying to: Car_man (Aug 31, 2005 3:50 pm) |
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Hi Car man, I live in Maryland and I am in the middle of looking to lease a Mazda3 GT 5 door(hatchback) I visited the local Mazda dealer and they gave me the following price: Mazda 3 5 door Grand Touring w/Moonroof + Bose package and other additions MSRP: $22,875 Selling Price: $21,785 Could you work up a lease package for 24 months/15,000 a year. Also, what is the current money factor and residual? Thanks in advace.
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Replying to: pfje (Aug 31, 2007 11:00 am) I guesstimate your pyments for 24 months to be 350-360 a month.
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Replying to: steevo (Sep 01, 2007 5:13 am) thats a nice price..is that a 2008? |
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Hello all, Here is the currently proposed deal with no money down. 2007 Mazda3 GT 5 door with Bose/sunroof package and automatic transmission. MSRP $22,775 Selling price $21,805 Residual 64% Money factor .00154 Taxes $1,095 (taxes are 5% in Maryland) Acquisition fee $595 Processing fee $99 The monthly payment would be $443.27 What does everyone think? I have a few questions. Are taxes figured out on the total cost of the vehicle or on the monthly payment? Should I pay the taxes up front or put them into the monthly payment? Is the acquisition fee and processing fee negotiable? Any other comments would be greatly appreciated. Thank you. |
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Replying to: pfje (Sep 05, 2007 5:20 am)
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Replying to: qbrozen (Sep 05, 2007 6:46 am) I calculated the lease on my own came up with an an approximate payment of $375. I'm not sure how taxes are calculated in Maryland - up front on the total selling price or by the monthly payment price. Thanks in advance for any suggestions and/or advice.
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Replying to: pfje (Sep 05, 2007 7:52 am) But, at that monthly price, I'd buy the car.. You'd get the same payment over 60 months, more or less.. Unless you are upside-down on a trade, that price seems way out of line... 
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Replying to: pfje (Sep 05, 2007 5:20 am) What is the adjusted capcost? If your payment is correct, then the adjusted cap is substantially higher than the sell price of $21,805. Even if you cap the sales tax and acquisition fee, the total amounts to $23,495. Using this as an adjusted cap triggers a payment of $430.25 or about $13 less than your payment. Your payment suggests an adjusted cap of $23,796.24. Looks as though there is an additional $300 coming from somewhere. You're not providing enough information for me to respond intelligently. Something is missing. I have no clue how you arrived at the $443.27 payment. Taxes appear to be based on $21,900 ($1,095/0.05). Looks a little shakey to me. I need a break down of the adjusted cap. John Medina, Ohio
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