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Prices Paid: Buying & Leasing Experiences Mazda3 Lease Questions
437 messages, Last post on Nov 07, 2009 at 4:20 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Here is the offer I received via email - Grand Touring package with manual transmission listing for $23565 and selling for $22092. To lease this vehicle with minimum out of pocket for first payment and in fees ($750) is $367 to $371 per month, oac. With automatic transmission it sells for $22745 and leases for $371 to $375 per month. I don't think this is a good offer. What do you guys think?
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Replying to: ad79 (Jun 17, 2009 1:30 pm) Someone in the Lexus IS forums got the IS for $411 per month with nothing out of pocket... but they put down MSD which is sort of like a deposit... 375 is high for the Mazda IMO... sounds like you haven't negotiated yet...? |
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Replying to: amvb_nyc (Jun 15, 2009 7:34 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: dfwguy2 (Jun 15, 2009 1:52 pm) In short, the best way to negotiate a lease (at least in my opinion) is to negotiate the lowest possible selling price on the vehicle that you are interested in and then have the dealer calculate your monthly payment using its buy rate lease money factor. Mazda's July buy rate lease money factor and residual value for a 36 month lease of a 2009 Mazda3i Touring with 15,000 miles per year are .00039 and 50%, respectively. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Jul 07, 2009 2:39 am)
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Replying to: banshee24 (Jul 07, 2009 11:42 am) You do not want to put that much money ($3,500) down on a lease. Perfect explanation why from leasecompare.com: Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss. For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost. The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider: - Money down is taxable - Take the money you would have put down and invest it - Put your down payment in a savings account and use a portion each month to help make your lease payment |
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| I have a 2008 Nissan Sentra Spec V lease that is up in October. I am looking to terminate the lease this month to get into either a mazda 3 hatchback sport with moon and tech package or a gt base model. I have $1850 in excess milage on the sentra and 3 remaining payments at $350/payment. I am looking for the current money factor as well as residual so I can figure out which dealer is giving me the best deal. Also, I am looking to do this with just 300 down. Can you tell me if this is possible on either models and if so, what can I expect to be paying with the above criteria. Thanks! | |
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Replying to: tbrouillard (Jul 07, 2009 12:57 pm) Current Lease You're $1850 over in mileage on the Nissan and you have three months left on the lease  $350 per month. So if you turned the car in today, you'd end up paying $2900. Not a good thing! Do you know the residual value of the Nissan (established in the lease contract)? I'm just thinking that you might be better off buying the Nissan for that price rather than paying for the excess mileage. Residual values on leases are usually low-balled somewhat to bump the monthly lease payments up a bit. I would check the contract to see what the Residual Value figure is, then check on Edmunds (and KBB) to see how much the car is actually worth. Turning it in early- are you wanting to do this because the excess mileage cost for the next three months will be greater than the $1050 in payments? If not, you really should hang on to it until the lease is up. Current Mazda Lease Specials- the only lease special I currently see is on the 2010 Mazda3 s Sport 5-door Automatic (w/ no other options). It's a 42 month lease, $279 per month, $0 due at signing, 12k miles per year (42k over the term of the lease) and $0.15/mile overage. Buying vs. Leasing- are you sure that leasing your next vehicle is a better choice than buying it? Will you end up having excess mileage on the next car, too? If you drive more than the typical 12-15k per year allowed, buying is almost always the better choice! Mazda is currently offering 3.9% APR for 60 months on the Mazda3. $22k financed for 60 months at 3.9% would be $404 per month.
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Replying to: igozoomzoom (Jul 09, 2009 12:52 am)
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Replying to: tbrouillard (Jul 09, 2009 4:38 am) |
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