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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: aviboy97 (Apr 19, 2006 9:20 am) |
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| I was looking through the history of this thread, and I saw repeated references that Mazda does not have a good program for the 3. Within the past month or so, I have seen some of the Atlanta dealers offering what appear to be fairly aggressive deals. Have there been any recent changes? | |
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Hi Carman, I was wondering if you knew what the current residual/money factor is on the 2006 Mazda 3 Grand Touring - 4 door. I am in the Maryland/DC area and am looking to do a 36 or 39 month lease at 12K miles/year. The MSRP of the model I'm interested in is 22,010 + destination charge of 550. The invoice is 20,620. Thanks, Ben
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Does anyone know the MF and residual on the current 24 month deals Mazda is running on the 3s hatchback? The deal is for 12k miles, but I'd want 15k. How much does that change the deal? I'm specifically interested in a Touring 5-speed with moonroof package and leather, which is also different from the advertised deal (Touring automatic). I'd like a Grand Touring, but edmunds doesn't list that as having a lease deal. Is it true that there are no special offers on the GT? |
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Audia8q was kind enough to provide me with the following info on the 3 hatchback via email: 24month 15K miles Touring...64% GT...62% add 2 points for 12K miles year add 3 points for 10.500 miles year deduct 2 points for manual trans. Money factor is .00102 for both. This is tier 0 or 1 which is the best rates. $595 acquisition fee....can be built in or paid upfront. program runs thru 5/31/06. |
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A .00102 money factor is less than a 2.5% interest rate (money factor X 2400 = interest rate) Sounds like a very good rate - Mazda also wants a $2,000 down payment PLUS a $250 security deposit. I worked (as the CFO) for a leasing company for 3 years - So I have looked at leasing a car many times -if I bought the car at the end it always ended up costing more - but that was back when interest rates were more like 12% - also back then most leases just required the first and last months payment and a security deposit - no $600 fees or $2K down payments. I always thought it was one of the advantages of a lease - no money down - but so many companies got burned by people walking away after only a year that the leasing company added a down payment. They always say its to lower your monthly payment - even when they are telling the truth they can also lie! BTW = by costing more I don't mean just the monthly payment amount VS a loan - because if that is all you are looking at then the lease will (almost always) have a lower payment.
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Replying to: z71bill (May 13, 2006 7:10 am) Not true. They don't require any down payment unless the buyers credit is lousy or the buyer wants to 'buy' a lower monthly payment. They often run ad's with down payments but its to hit a specific payment....not because it's required to get a lease. |
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I am only going by what Edmunds has for the Mazda3 lease program - but like everything the terms can always be changed. I have seen a 24 month lease with no money down and no payments for 23 months - leaving one payment in month 24 - but it was more common to have a one payment lease - all paid up front - this was used by people who had nice cars that were paid off so they had a bunch of equity - they could trade their 2 year old car in - lease a new car and pay next to nothing (sometimes they even got a check). I have nothing against leasing - it can work out great - but you need to be very careful - educate yourself a little so you understand what the true cost will be - and if you don't understand everything then ask someone you trust that does. It is another chance for the dealership to do what they do best - which is - take more of your money. |
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Greetings! I spent some time at a dealer a week ago trying to get my bearings on the cost of leasing a Mazda3 Grand Touring trim (with navigation system & moonroof/Bose package). The very best I was offered was $450 per month w/ $1,500 drive-off (practically no down payment). Supposedly, this was already some sort of employee discounting. I currently have another lease I am trying to get out of, that they were willing to pay off for me, however, obviously, I am very much "upside down" going into the lease. How do these terms compare with what's out there? Thanks for your time.
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Replying to: ttintin (May 21, 2006 8:40 pm) how many months is that? why are you trying to get out of your current lease? I ask this last question because it would seem to me that, if one lease did not work out for you, most likely another won't, either. (unless you've simply realized you need 4 doors or something like that)
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