Last post on Dec 07, 2013 at 2:30 AM
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Mazda MAZDA6, Car Leasing, Hatchback, Sedan, Wagon
#138 of 552 Re: Is This a Good Offer? Mazda6 [rokkford]
Jan 31, 2008 (4:05 am)
Hi rokkford. Did someone say that this car's 36 month residual value is 64%?! I hope that it wasn't me. If it was, I apologize. Mazda Credit's current 36 month, 10,500 mile per year residual value for a 2008 Mazda6i Sports Sedan is only 52%. Its money factor for this term is .00129. Make sure that the dealer uses these numbers to calculate your car's lease payment. Also, make sure that they use an attractive capitalized cost. If I was in the market for this car right now, I personally would want a discount of around $3,000 (including the $1,500 lease cash).
Prices Paid: Buying & Leasing Experiences Forum
#139 of 552 Re: Is This a Good Offer? Mazda6 [Car_man]
Feb 05, 2008 (6:25 pm)
OK, I'm looking at the Mazda 6i SVE with automatic that Mazda is currently running a 24 month, 24000 mile lease special of 199 a month with 2199 down.
But, if I just go by Edmunds figures for one with just a rear spoiler added, the MSRP is 21610 and TMV is 18260 with a 2000 rebate. But I'm guessing if I lease one, I only get to use the 1250 lease cash listed on Mazda's website. However, if I use that, roughly a 1200 trade-in and first-month payment down only, wouldn't it be possible to get a lower payment than that? I know you suggest not putting a lot down on a lease, but I'm not sure even with the available lease cash and first-months payment that I could come up with near the 199 a month. Plus, I don't need four cars in the driveway (well, three as my postal truck stays at the office)
I really don't want to go 36 months, since I will likely have the money to upgrade to a BMW 330i convertible after this lease runs out.
#140 of 552 2007 Mazda6 wagon
Feb 21, 2008 (9:59 am)
What should I expect to get one of these for? I managed to find one,
loaded, msrp is 28,818, dealer says $600 over invoice, and that includes
the cost of getting it here. Purchase is $21,888 with 4K rebate, I would
want to lease it.
#141 of 552 Re: 2007 Mazda6 wagon [scottinky]
Mar 07, 2008 (3:13 am)
Hi scottinky. Mazda is not providing lease support on 2007 models any longer. I don't even through that you could lease an '07 model through its captive finance company if you wanted to. As a result, you would have to go through an independent bank to lease this car if you could even find one that is still leasing 2007 models. I suspect that you will be better off going with a 2008 Mazda6 if you really want to lease.
Prices Paid: Buying & Leasing Experiences Forum
#142 of 552 2008 Mazda6 lease
Mar 12, 2008 (4:57 pm)
Hello. I'm currently interested in leasing a 2008 Mazda6 i SVE. I've done a lot of research worked numbers over repeatedly as well as used Mazda's lease payment calculator to verify my work. However, I'd like to know if this is a possibility and not a flight of fancy. I have come to find that my wife is eligible for the s-plan and am working from that price. Currently the Mazda6 i SVE at s-plan is $18,248, before tax and fees. From that I added handling charges, tax, etc. The final sale price comes out at $20,015.98. I then applied a down payment of $1000 and the current lease cash of $1250 offered by Mazda. At 24 months and 12,000 miles my complete monthly payment comes out to $176 per month. I double checked my work on their website calculator as well and came up with the same price. My question is, will a dealer allow me to use s-plan pricing and lease cash combined? Although it's clearly stated this is a possibility, I find some dealers unwilling to participate. What should I do?
#143 of 552 Re: 2008 Mazda6 lease [adreas]
Mar 13, 2008 (4:38 am)
Yes, the dealer will allow you to use S-plan and lease cash. However, the calculator on the Mazda website automatically factors in the lease cash, so if you put in your "purchase" price of $20,015.98 and down payment of $1000, you'll get the correct lease payment of $228. It looks like you added the $1250 lease cash in with the $1000 down payment for a total $2250, which is how you arrived at the incorrect $176 payment.
#144 of 552 Re: 2008 Mazda6 lease [krwest1]
Mar 13, 2008 (6:16 am)
Thank you for your help! I was wondering how the payments came out so low. It just didn't seem right to me. Should I be able to get a better deal with S-plan and lease cash than with lease cash alone? Say if I were to use s-plan pricing and lease cash with $1500 down, would I be able to net payments closer to $200/mo?
#145 of 552 Re: 2008 Mazda6 lease [adreas]
Mar 13, 2008 (7:36 am)
You're welcome. I think the S plan price is right around invoice, so that's a very good price without having to do any negotiating. You may be able to get below that by negotiating on your own, but it's up to you if it's worth the hassle.
Your payment will go down about $4 per month for each additional $100 you put down. However, the money factor on this lease is so low (around 1%), that you would be better off not putting any money down except the first month's payment. Put the money into an online savings account and earn 3 or 4%, and take money out each money if you need it to help make the payment.
#146 of 552 Re: 2008 Mazda6 lease [krwest1]
Mar 13, 2008 (8:03 am)
Thank you again for your help. I've worked everything out on my own instead of using Mazda's online calculator, but I still am getting incredibly low numbers. I've been quoted on a Mazda3 this time for a residual value of $11,647 after 24 months. Using the S-plan pricing of the trim I'm looking at, which comes to $15,539 before tax and fees, I added $635 destination charges and $300 in fees. The price comes to $16,474. I then applied 6% sales tax and used a money factor of 2% (0.00048). I also used the $500 lease cash currently offered on the Mazda3 as down payment. After working everything through several times to ensure mistakes were not made I came up with a monthly payment of $205.16. This is without placing a down payment of my own and at 12,000 miles a year.
After adjusting my last work to compensate for the lease cash, I also came up with $228/mo for the Mazda6. So I know I'm working this out right on the Mazda3. That is, unless, the lease on the Mazda3 is not at a similar money factor as the Mazda6. Any advice? My dealer is trying to get me to lease a Mazda3 at $216/mo with $1500 down. I'm also aware he did not include the $500 lease cash in his calculations. He also used a money factor of 11.95% (0.002868)!
What should I do? Thanks.
#147 of 552 Re: 2008 Mazda6 lease [adreas]
Mar 13, 2008 (9:36 am)
What is the MSRP of the Mazda3 that you are looking at? What trim level (i Sport Sedan, i Touring Wagon, etc.)? I can tell you that the money factor on the Mazda3 is substantially higher than the Mazda6. It's somewhere around .00225 (5.5%) for the i Touring. By the way, money factor X 2400 equals interest rate. Your calculations were backwards. For example, if the money factor on the Mazda6 is .00048, the effective interest rate is .00048 X 2400, or 1.152%.