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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: delta737h (Sep 06, 2007 1:39 am) Thanks for your response. This is the response I received from the dealership: New 2007 Mazda3s 5-door Grand Touring Auto Moonroof and Bose 6cd in-dash changer. - MSRP $22,775.00 Your Special Internet Price is $21,805.00* TAGS $202.00 RESIDUAL 64% MONEY FACTOR 0.00154 TAXES $1,095.20 PROCESSING CHARGE $99.00 ACQUISITION FEE $595.00 PAYMENTS ON 24 MONTHS WITH JUST 1ST PAYMENT UPFRONT IS $ 443.27 I have not met with the dealership in person. Correspondence has been using email. Therefore, I have not seen their payment formula. Before I respond I was hoping for helpful comments (like yours) from the members of this forum. Any comment would be greatly appreciated.
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Replying to: pfje (Sep 07, 2007 5:01 am) Using edmunds calculator, I've gotten close to their figures. Since you have to pay all the tax on the car, that makes a big difference. If I use the calculator and roll in the processing fee and taxes into the cap cost (total of $22,999), I come up with $453. However, the edmunds calculator insists on a security deposit, so that may be why its coming up a bit high. Based on all of this, I would be looking to finance for 5 years if I were you. It would be almost exactly the same price, but you'd avoid the acquisition fee and any mileage restrictions. |
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Replying to: delta737h (Aug 24, 2007 4:46 am) Would you mind e-mailing me your excel spread sheet- there are few numbers on Deltas Acura proposal I am not coming to- thanks jjmurray14  yahoo.com
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Replying to: jerseyguy7 (Sep 08, 2007 8:43 am) |
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I am in the market for a Mazda 3 Grand Touring with a nav system. The Westchester, NY dealer I spoke with said that the money factor for the 2008 edition was DOUBLE what the 2007 edition was, but the residual was higher. In other words, the 2008 editions had a money factor of .00278 (was .00139 for an'07) and the residual was 61% (was 57% for an '07). Is this guy yanking my chain? How can the money factor be so high for the next year's model? Or is this the norm? THANKS.
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Question on your formulas- In determining P (Payment) you need: F(Money factor)check R(Residual value) check T(Term) check and... A(adjusted cap cost).....but to determine A(adjusted cap cost) you need C(Amounts Capitalized/financed) in which you includes 1st month's payment Your formula for A....A=(V+C)-D.....V and D are known, but what about C...you know security and acquisition fees, but C also includes 1st month payment ...but P can only be calculated when A(adjusted Cap Cost) is determined? I feel like this is the chicken/egg condodrum??? What am I missing?
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Replying to: jerseyguy7 (Sep 08, 2007 9:42 pm) Yup, the first payment is being capitalized. There is a little algebra involved but if you send me an email at... diffeq zoominternet.net I'll be happy to send you a paper I wrote that explains how to compute payments when the first is capitalized. Also, let me know how NJ computes sales tax. My guess is that they levy tax on the payment streams. John Medina, Ohio |
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