Last post on Nov 25, 2013 at 7:09 PM
You are in the Mazda3
What is this discussion about?
Mazda MAZDA3, Car Leasing, Hatchback, Sedan
#776 of 850 Re: Mazda3 i Touring auto [balthazar9]
Aug 15, 2012 (9:17 am)
The TMV? That's not the whole picture, I don't think. An uptick in mileage changes the residual value, and I can pretty much guarantee it is more than $207.
A salesperson once told me that 5k miles adds about $15 to the payment ... or about 10 cents per mile.
#777 of 850 Re: Mazda3 i Touring auto [qbrozen]
Aug 15, 2012 (10:32 am)
The reason I looked at the TMV was because the residuals try to predict the value of the car at the end of the lease, factoring mileage and age. The dealerships I went to had published residuals to 15k/yr. After that they charge a rate of 10 cents per mile. So I was using the TMV to get an estimate on the value of the car after the additional mileage.
For your example do you mean 5k/yr? Cause if that's the case, assuming 36mo lease, 15*36=540 540/15000=3.6 cents per mile.
Looking at car_man's posts where he provides rates for multiple mileages (735, 737, 750) he states the difference between 36mo 10k->12k at 1% and 12k->15k at 1% as well. 1% of a $20,000 car is $200 which equates to 3.3 cents and 2.2 cents respectively. Say we double the depreciation to 2%. That still puts us at 6.6 to 4.4 cents per mile. Working backwards from 10 cents, for an additional 3k miles per year for 36 months means the cars residual would have to drop 4.5%. That seems too high for an economy car.
#778 of 850 Re: Mazda3 i Touring auto [balthazar9]
Aug 15, 2012 (10:38 am)
I forgot a detail, the car I requested the info for is the 4-door sedan. Thanks!
#779 of 850 Re: Mazda3 i Touring auto [balthazar9]
Aug 15, 2012 (11:53 am)
oh, right. 5k/year.
i'm so tired today.
sorry about that.
I'm not sure why they just aren't using a different residual rather than charging per mile ... unless you are going above and beyond. In other words, I think most leases are available up to 18k/yr, but then they have to go per mile above that.
#780 of 850 Re: Mazda3 i Touring auto [qbrozen]
Aug 15, 2012 (4:04 pm)
It would be easier if they'd use a residual for 18k per year. But both the Subaru and Mazda dealer I visited would only quote 15k and then charge for the extra 3k miles. Arguing less than 10 cents shouldn't be too hard, I'm just worried they'll just say the leasing company charges that flat rate and they can't change it. I of course wouldn't be able to verify if that's really the truth.
#781 of 850 Re: Mazda3 i Touring auto [balthazar9]
by kyfdx@Edmunds HOST
Aug 15, 2012 (6:33 pm)
I'm just worried they'll just say the leasing company charges that flat rate and they can't change it.
They would be telling the truth...
#782 of 850 Re: Mazda3 i Touring auto [kyfdx]
Aug 15, 2012 (7:29 pm)
Thanks for the clarification! It's unfortunate it can't be negotiated, they charge way too much! Any chance you could provide the lease info I requested a few posts back?
#783 of 850 Re: Mazda3 i Touring auto [balthazar9]
Aug 19, 2012 (6:37 am)
Hi balthazar9. I've seen information about leasing this car for 39 months, but I haven't looked into a 42 month lease of ye before. I'll look into that for you.
In the meantime, Chase's August buy rate lease money factor and residual value for a 39-month lease of a 2012 Mazda3 i Touring Sedan in Philadelphia with 15,000 miles per year are .00084 and 56%, respectively for consumers who qualify for its top credit tier.
Actually $0.10 per mile sounds about right for excess mileage purchased in advance. $0.05 sounds a little low to me. I don't think that the dealer has the ability to mark-up excess mileage charges.
Prices Paid: Buying & Leasing Experiences Forum
#784 of 850 Re: Mazda3 i Touring auto [Car_man]
Aug 21, 2012 (7:31 pm)
Thanks for the info! My local dealer quoted me 54% for 42 months with a mf of .00091 but they use tier 2 by default. I got a quick quote for 36 and 39 too but didn't get the figures. Based off of some quick calculations, I think they came out to 58% and 56% respectively.
#785 of 850 Mazda3 i Touring 4-dr auto
Aug 26, 2012 (8:49 am)
Could you look up the top tier money factor for a 15k/yr 36 month lease for a Mazda3 i Touring sedan with an auto transmission in the Philadelphia area?
Does using Chase Financing exempt you from receiving dealer cash any incentives? The fine print on edmunds incentive page says I should be good but I had a dealer try to tell me otherwise.