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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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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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Replying to: qbrozen (May 23, 2006 6:58 am) May I ask a question? Taking into consideration the popularity of the car, what is a decent monthly payment I can expect to make with no down payment? (Taking my current lease out of the equation?)
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Replying to: ttintin (May 23, 2006 9:57 am) qbrozen, "Mazda3: Lease Questions" #34, 12 May 2006 11:14 am you'll see the numbers for the 3 hatch (i'm not sure if this applies to the sedan, but I would not be surprised if it does since mazda is offering deals on those, too). So let's say your MSRP is $22,810 and invoice is $21,148. I'd say $150 over invoice is doable, giving you a cap cost of $21,300. let's say you are looking for 15k miles per year, a stickshift, and we already know about the nav. Given all of this, I'm going to assign a residual value of 58% ($13,230). I come up with $441.72 with zero down and including 6% tax. This is about as bad as it gets. If you go with an automatic, that ups your residual. If you go with 12k miles per year, that ups your residual. If you go without NAV, that ups your residual. So, here we have almost the $450 you were quoted, BUT its ONLY FOR 24 MONTHS. And, of course, ZERO DOWN. so paying $450 for 3 years with money down is pretty bad when compared to this 2 year deal.
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Replying to: qbrozen (May 23, 2006 10:40 am) Perhaps the reason why my monthly was so high is because they were going to pay off the rest of the my lease. It's looking like they rolled the payoff amount into the lease (which does not depreciate), and I was basically paying that plus interest over the 3-year leasing period. Thank you again for your time.
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Replying to: ttintin (May 23, 2006 1:06 pm) Well, sure, they are rolling in the negative. That's the killer part, though. If you think about it, you are adding a year to the Mazda3 lease just to escape 6-7 months of your current lease. Not really worth it, IMHO. But, of course, you may feel differently. Good luck. |
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Replying to: bstein81 (Apr 29, 2006 8:01 am) Car_man Host Prices Paid Forums |
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Hi Car_man, Do you have any information on the money factor & residual for leasing a 2007 Mazda3 Grand Touring Hatchback? Specifically, I'm looking for information on a 24- or 36-month lease with 15,000 miles a year. I'm in Los Angeles. Thank you for your time. |
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Replying to: mazda3_fan (Oct 07, 2006 5:05 pm) I'm trying to decide between the Mazda3 and a Chevy Cobalt. I test drove a Corolla but it was the worst car I have ever driven. |
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