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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: 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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Replying to: wco81 (Oct 14, 2006 8:39 pm) |
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Replying to: mazda3_fan (Oct 07, 2006 5:05 pm) Car_man Host Prices Paid Forum |
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Replying to: Car_man (Oct 18, 2006 2:05 am)
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Replying to: Car_man (Oct 18, 2006 2:05 am) Here's the deal I offered them: 2007 Mazda3 S Touring Manual 36 month lease  12,000/year Cap Cost: $18,509 (invoice price) Taxes & Fees: $2295 Due at signing: $3092.75 Money Factor: .004 (due to credit score of 630) Residual: $11,513 (58%) Monthly Payment: $200 When I calculate this out, that's the payment I come up with using a financial calculator. Am I doing the math wrong? Certainly I've tried to cut their profit as much as possible, but the dealership called me and told me they'd sell me the car at or below invoice, so there shouldn't be any problem using that invoice price as the cap cost. Unfortunately, they originally came out with some astronomical figure like $429 per month (this, after telling me that the pencils are sharp because it's the end of the month). Finally they let me walk out with their "best offer" on the table of $5000 down and $220 a month. Are they simply crazy or am I not adding something up right? Basically I took the cap cost, added the fees of $2295, and came up with a total cost of $20,804. Subtract out the money due at signing (3092.75) and we're left with $17,712. Subtract the residual, and we have $6199, total amount financed. Amortize that over 36 months, at 10% interest (.004 money factor) and we're at exactly $200 per month. So why did these guys let me walk out the door while trying to take an extra $2000 out of my pocket at signing plus another $720 over the course of the lease? Whose math is wrong, theirs, or mine? Thanks in advance. Chris Perosi
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Replying to: Car_man (Oct 18, 2006 2:05 am) Would you know if the rates changed as of 11/1? I'm going shopping tomorrow for a 3sGT or 3sT (or maybe 6iVE): 36 months 17,500/year BTW, how much would I be paying to "pre-buy" the miles. I think I read somewhere on Edmunds.com that it should run about half as much as at lease end. Thanks, S.
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Replying to: mazda3_fan (Oct 18, 2006 7:38 am) Car_man Host Prices Paid Forum |
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