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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: rctennis3811 (Mar 31, 2008 12:39 am) 2. negative equity is the difference between the value of the car and what you owe. Leases can be terminated in 1 of 2 ways. Paying all the payments NOW and getting out of it ... so 12 payments in your case, I presume. OR a dealer you trade it to actually buys it from Mazda at your current buyout and gives you credit for its trade value. This is the preferred method only when the current trade value exceeds the end-lease buyout. So, for instance, if your buyout a year from now will be $10k, but the car is CURRENTLY worth $12k on a trade, then they but it from Mazda for, say $16k, and you have to roll the $4k negative into your next car. 3. Yes, if you decide to buy the car at the end of the lease, I'm sure Mazda credit will work with you on a finance contract .... or you just go to a bank. 4. Whether you pay at the end or not depends on your contract, miles driven, and excess wear and tear. Some contracts have a fee at the end for turning it in, which would be added to the fee for your excess miles and/or excess wear and tear. You have a lease allowing 36k total miles. You've driven 30k and have a year to go. That means, at your current rate, you will go over by 9k miles. If I assume a 15 cents per mile charge, you would owe $1350 at lease end in excess mileage charges. If I were in your shoes, I would try to wait as long as possible and see where you are at at that time. Once you get to ... say 35k miles ... then weigh your options again. It may be worth it just to pay the excess miles and finish the lease rather than roll too much negative equity into another vehicle. Without knowing your payments or buyout, its very difficult to give you any advice other than that. |
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Replying to: azbriank (Mar 28, 2008 6:42 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Apr 24, 2008 1:14 am) What is a good monthly payment for a 36 month lease on a mazda 3 auto touring value edition with a small $1500 or $0 down payment? THX |
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Dear Car Man, The time is near for me to make a decision to buy or lease. I am looking for a Mazda 3i touring value edition with automatic. The lease should be a minimum of 36 months longer is also good. I can live with 10,000 to 15,000 miles per year with no or a minimum amount of cash down. What monthly fee should I be looking at? What would be the buy out at the end of the lease? THX for your advice.
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Replying to: mazdabuyer08 (May 18, 2008 12:18 pm) For now I can tell you that Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Mazda 3i touring value edition with 15,000 miles per year are .00165 and 54%, respectively. The residual value for a lease with only 12,000 miles per year would be 2% higher. The residual value for a lease with 10,500 miles per year is 3% higher. You can use this lease program, along with the prices that I mentioned to calculate a lease payment using the formula that is outlined in this article: Calculate Your Own Lease Payment. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (May 19, 2008 1:59 am) I would estimate a selling price of $17,500, MSRP of $18,200. The destination charge is an additional $635. I would also be ok with 10,500 miles per year. Does Mazda do a 4 year lease as well as three years? |
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Man am I glad I stumbled on to this website. Ok I'll post the numbers and if you can Help Car Man that would be great. Is this a good deal? .........on a Mazda 3 i touring with a msrp of $17,790.00 plus a $1,000 discount bring the price to $16,790.00 on a 15K mile lease with 0 down 24 month = $336.00 mo 27 month= $317.00 mo 36 month = $297.00 mo Same 15K miles a year with $1,000.00 down 24 month = $293.00 mo 27 month = $279.00 mo 36 month = $268.00 mo Same as before but with $2,000.00 down 24 month = $250.00 mo 27 month = $242.00 mo 36 month = $239.00 mo THANKS A BUNCH
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Replying to: marcostorres (May 23, 2008 6:25 am) I Just leased 2008.5 touring value edition. My lease is 236 (tax inclusive...222 w/o tax) for 27 months with 15,000 miles and NO MONEY OUT OF POCKET except for first month and tags (~210). I originally agreed to 39/15k at 209 (w/o tax) with zero out of pocket but realized at time of signing that I would have an extra 12 months and might be out from under warranty at 36k miles with a 39/15k. They offered to make it 27 months which worked out to $14 more a month. I didnt have the RV's or MF's for 27 months but had to trust their Numbers (61% and .00196) but I figured for an extra 14 dollars total I was out of lease one year earlier and always under warranty. So I bit. THoughts? Dan
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Replying to: docmri (May 26, 2008 8:06 am)
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Replying to: marcostorres (May 26, 2008 11:13 am) It may be worthwhile to send out number requests to several dealerships over the internet. One pointer....Even if you are inquiring over the web at local dealerships it would seem beneficial to say over the web that you are a few hours drive away. They tend to be more aggressive with buyers who live further away as these are customers outside their normal catchment area and can be considered "bonus" costumers. Car was for my wife...we drove it home today.
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