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Mazda MAZDA6, Car Leasing, Hatchback, Sedan, Wagon
#141 of 551 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 551 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 551 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 551 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 551 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 551 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 551 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%.
#148 of 551 Re: 2008 Mazda6 lease [krwest1]
Mar 13, 2008 (10:21 am)
Ok, I notice where I went wrong now. I was told to use a different equation to figure for the money factor. I see that it's the wrong way. It's not the math that's hard, I take advanced math courses, but you'll screw up either way if you're using the wrong formula. I am looking at the Mazda3 i Touring (manual) and Mazda6 i SVE (manual). I reworked according to your equation and came up with $218.48/mo on the Mazda3 with $1,500 down including the lease cash. At $2000 down, including lease cash, I am at $195.21/mo. This is for a 24 month lease using 12,000 miles per year. Could you help me with the Mazda6's figures? Thanks in advance!
#149 of 551 MAZDA6 i Sport Value Edition 5-Spd Auto
Jul 02, 2008 (7:30 am)
Could someone please provide the current money factor and residual value on this model? The MSRP is roughly $21450.
Looking for numbers on 24 & 36 month leases - 12K miles per year.
#150 of 551 Re: MAZDA6 i Sport Value Edition 5-Spd Auto [brandj5]
Jul 09, 2008 (3:10 am)
Hi brandj5. Interestingly, it does not appear as though Mazda is providing lease support on the Mazda6 in July...at least not nationally. This means that you probably don't want to lease this car right now. If you really want to get a Mazda6, take advantage of its new aggressive special financing program and finance it at 0% for 5 years instead.
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