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Mazda MAZDA6, Car Leasing, Hatchback, Sedan, Wagon
#15 of 550 Re: [mittbb]
Feb 13, 2006 (5:45 pm)
Let me try to answer one part of your question. The remote engine starter is a dealer installed option. It can be added to any automatic transmission equipped Mazda6 on the lot. You may special order a Mazda6 with the remote start option, but it would be installed at the dealer anyway. It's an OEM dealer installed Mazda accessory. I have one on my 2006 6s Grand Sport 5-door. Since the 2006 has a "switchblade" style key with built-in transmitter, the remote engine starter option adds a second single-button transmitter (unlike prior model years). If you were inclined to build a Mazda6 from scratch and special order it, expect to wait anywhere from two to three months for delivery (I've been there). Good luck with your lease negotiations.
Feb 19, 2006 (7:24 am)
Greetings mittbb. If you were to lease a 2006 Mazda6i Grand Sport Sedan through Mazda Credit right now for 39 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00223 and 47%, respectively. Mazda's 12,000 mile per year residual value would be 2% higher. I don't believe that it is currently offering 36 month leases on this car, so if you want one for close to 3 years you will have to go with the 39 month term.
The lease cash that I have mentioned, specifically $2,000 on the car that you are interested in, works just like normal customer cash would but it is compatible with Mazda's special lease program. Make sure to negotiate the lowest possible selling price that you can for this car, taking into account this lease cash into account.
Edmunds.com's True Market Value supposedly represents the selling price that consumers are paying on average for this car. If you are a savvy consumer and shop around you should be able to get the Mazda6 that you are interested in for less than its TMV price. The price that you negotiate will be your car's capitalized cost. If this car's TMV is less than dealer invoice it means that the cash incentives that are currently available on it are being taken into account.
Dealers are always more anxious to sell vehicles that they already have in stock than ones that they have to order. This is because they can provide immediate delivery of an in stock vehicle, but they risk having deals on ordered vehicles fall apart between the time that the deal is agreed to and when the car arrives. Furthermore, dealers have to pay "floorplan" interest on the vehicles that they have in inventory. The sooner they sell the cars that they have, the sooner they can stop paying interest on them.
Many banks automatically include gap insurance in their leases. There is a good chance that Mazda Credit does, but I do not know for sure that this is the case.
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#17 of 550 Thanks, and a couple of clarifications
Feb 19, 2006 (10:35 am)
Thank you for your replies, gmcjoe and Car_man. That helps clarify some things.
Just a couple more clarifications if you don't mind. I've seen conflicting information regarding how the residual value is calculated. Most sites state that it based on MSRP. A few other sites, including alg.com say it's based on the adjusted (net) cap cost. Which is the norm? If the dealer claims that the leasing company normally uses the adjusted cap cost, should I call him/her out on it? In the event that I have no intentions of buying the car after the lease expires, I would therefore want the residual value to be based on MSRP so that I can have lower monthly payments.
So that $2,000 lease cash you mentioned is the unadvertised manufacturer-to-dealer rebate? This does not include any advertised manufacturer-to-consumer rebates, right?
Thanks again for your time!
#18 of 550 Re: Thanks, and a couple of clarifications [mittbb]
Feb 21, 2006 (3:40 am)
You're very welcome, mittbb. I'm surprised that ALG.com would say that vehicle's residual values are based upon their adjusted capitalized cost. Vehicles' residual values are always based upon a percentage of their full MSRPs, including destination charges and any options that can be residualized.
I don't believe that Mazda advertises the lease cash that I mentioned, but given the fact that you are aware of it you should be able to get the dealer that you are working with to take it into account on your deal.
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#19 of 550 Mazda6GTA NEW 2005 and New 2006
Feb 23, 2006 (4:42 pm)
My girlfriend is looking at a NEW Mazda 6gta 2005 MSRP $2800 and A Mazda 2006 GTA MSRP $28430.
I got the dealer down to $23,500 on the NEW 2005 and when I mentioned Lease he clamed up. I know that Mazda is offering $3000 cash back on the New 2005 Mazda 6's I was think with dealer customer loyalty cash of $2,000 I could get this car for $20,000-$21,000 am I out of line. Also, I was wondering what a risidual would be on a new 2005 and the current money factor on a 36 month lease and a 39 month lease.
She is also turning in a 2003 Mazda Tribute with 30,000 miles on it.
#20 of 550 Current Money factor and Residual
Mar 02, 2006 (1:10 pm)
Does anyone know the current money factor and residual for a 2006 Mazda6S GT Automatic MSRP 27,820 cap reduction around $25,280 (not including current rebates) for a person with good a credit score 780?
Also are there new rebates for March and if so what are they?
Mar 09, 2006 (4:11 pm)
Iíve been keeping an eye on the local dealer inventories, and Iíll be requesting price quotes very soon. With the change of month, Iím guessing that there will be different residual values, money factor and rebates (I live in the northeast) for the lease Iím considering. So if you donít mind, can you tell me what they are this month for the same car and conditions?:
2006 Mazda6i automatic with the Grand Sport package.
39 month lease with 12,000 and 15,000 miles per year allowance.
My credit score is very good.
Another thing I had forgotten to consider is this ďdestination chargeĒ. From what Iíve read, you have about zero chance in negotiating it out of the total cost. Is the destination charge already included in the sticker price, or will the final MSRP be the MSRP stated on Edmunds + the destination charge. If it is the latter, will the residual value be based on sum of the two figures or on the ďbaseĒ MSRP?
Mar 15, 2006 (5:51 am)
Iíve received a quote from one of the internet managers so far, Car_man. I would still like your thoughts on the destination charge issue from my previous post, and also if you can still let me know what the residual and money factor you come up with for March so that I can compareÖ Here are some of the details of the quote:
For 12k miles/year:
Residual calculated to 49.65% of MSRP. Money factor quoted as .002530
For 15k miles/year:
It wasnít broken down for me as it was for 12k miles, but based on the monthly payments, I was able to calculate a residual of roughly 2% less (47.65%).
And among some the other things I want to bring up:
$3000 in lease rebates
$595 acquisition fee
$220 DMV / registration fee
According to the dealer, the $3000 in lease rebates is taxable, therefore my total tax is being calculated by my net cap cost + the 3000. Is this fair practice? I live in NY, and I donít know if it is. Also, the dealer wants me to pay the entire tax for the 39 months up front. Again, is this some law in NY? Iíd rather not have to pay that up front in the event that the car gets stolen or totaled.
Iím not thrilled about the $595 acquisition fee. Seems like an extremely excessive charge for processing paperwork. Can you tell me what the base acquisition fee is? And another $220 for the DMV / registration fee Ė is it reasonable? Shouldnít this be included in the cost of the acquisition fee?
I donít know if I should be satisfied with the quoted money factor. The dealer said that anyone with a credit rating of at least 700 gets the same money factor from MAC. With the average credit rating in America is somewhere in the 720ís, Iím not feeling so special anymore .
And as you may recall, I wanted some options added onto the car. The options would amount to another $400.00 MSRP. I was given the VIN to look up on the Mazda web site, and I noticed that the sticker price that I was quoted did not include this $400.00. This is because the options are not yet installed, and they will need to add the options on at the dealership. But I can see that they are still charging me that $400 in my quote; The quoted sell price (before the $3000 rebate), appears to be what the invoice price would be (exactly) if it was based on the quoted sticker price + $400ÖPLUS another $500 which Iím assuming is just simply additional profit for the dealer. So by not increasing the final MSRP by $400 in the first place before figuring out the residual value, Iím losing out on over $150. May not seem like a whole lot, but once you figure theyíre making money with that extra $500.00 over invoice, the ridiculous 595.00 acquisition fee, a questionable $220 DMV / registration fee, the commission paid to the dealer by the lease company, and an eventual 500.00 or so on dealer hold back, I think I still have bargaining room despite a taxed $3000 rebate.
Iíve found out that adding the options that I want would take 24 hours to install. I really donít want to have to sign any contract until those options are installed, so am I going to have to make some sort of a ďgood faithĒ deposit on the lease until the options are installed? Is that the way it usually works? If so, whatís considered a fair deposit? Thanks!
#23 of 550 lease residual value difference mazda 6
Mar 15, 2006 (10:04 am)
Dear car ma,
I recently leased a Mazda 6 grande sport from a local dealer. They had to locate a car for me and we hit the end of a timelimit for a carshow rebate of $1000.
When I went to sign papers and asked to review the lease the dealer said they had to make some changes. When they gave me the lease to read the payment was $20. more a month then what I was expecting and also had been written up for 48 months instead of the agreed 36 months and 10,500 miles instead of 12,000 miles. I got the response of sorry I made a mistake but when the mileage and length were straightened out i felt the lease was still higher then what I expected. The sales manager told me the residual value of a mazda grande sport 5 door hatchback was 2% lower then the grande sport sedan.
I felt I was being lied too. Is there a difference in these
two almost exact cars or was it a trick to take my money?
#24 of 550 Re: Current Money factor and Residual [javamonkey]
Mar 16, 2006 (5:47 pm)
Hi javamonkey. The person who you are speaking about certainly has a good credit score. This car's exact lease program will vary depending upon how long this person leases it for and how many miles per year they are allowed to drive it. For now I will assume that they are interested in a 36 month lease with 15,000 miles per year. Mazda Credit's current 39 month, 15,000 mile per year buy rate lease money factor and residual value for a 2006 Mazda6S GT are .00223 and 47%, respectively. Mazda is currently providing $1,500 lease cash on this car. Make sure that your friend takes it into account when negotiating its capitalized cost.
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