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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
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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They're remodeling but claim to have inventory in the back. After telling me that they ask for $2k markup over sticker, the salesman says he could do about $500 below sticker for Costco price. I go in and the sales manager at the terminal say they have a Galaxy Gray with ABS and the price would be $300 over invoice. I ask out the door and he says about 18,700 something. So maybe around 18,800 with CA and 8.25% sales tax as out the door price for purchase. For lease, he says it would be 70% residual for 2-year, 10.5k miles/year lease with .0033 MF. He figures on a drive off of $900 and 23 remaining payments of around $347 including tax. Disposition would be $350 or $375. I didn't get the exact MSRP or selling price but I did get a printout. But looking at Carsdirect, the MSRP with just the ABS as option would be: 18,045 On the printout, the "GRS CAP COST" is $17658. If that's the selling price, I don't see how the OTD price on a purchase would be $18,800.
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