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Prices Paid: Buying & Leasing Experiences Mazda CX-7 Lease Questions
268 messages, Last post on Nov 18, 2009 at 3:15 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I checked out the CX-7 today and was pleasantly suprised. I've been looking at the murano, but considering the price I'm becoming a CX-7 fan. I requested a quote for a 0 down, 36 month lease on the GT package. The numbers seemed fair, Cap Cost, resid., except for the money factor. When I was shopping the murano, I was getting a money factor of .00058 through Nissan, Mazda financing was offering .00278, a considerable difference. I asked the sales guy why the rate was so high and he said it had to do with the CX-7's high resid. (60 %) This drove the price of the lease above the quote I was getting for the murano, which had a cap cost of about 4k more. How can nissan offer such a low money factor? Does the resid. have anything to do with the rate? Are there 3rd party lease finance companies that can offer a better rate? Any help would be appreciated. Thanks, Wil
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Replying to: wilg (Sep 06, 2006 8:18 pm) The Murano is currently being heavily discounted...so Nissan is 'buying down' the money factor. Its an around about rebate essentially. The CX-7 is brand new and hasnt been around like the Murano so like most new models there arent any special incentives/buy-downs yet. The residual may or may not have something to do with the rate....the residuals are set by ALG and each mfg may opt to enhance the residual....sometimes they enhance the residual side but not the rate...some mfg may not enhance the residual but might buy down the rate....
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Replying to: audia8q (Sep 07, 2006 9:27 am) Do you think nissan is discounting it because the new year model will be out soon? Any thoughts?
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Replying to: wilg (Sep 07, 2006 9:40 am) year end usually plays a role. If it was the first year for the Murano they wouldn't be offering those kind of deals. The waters are getting deep..It seems everyone has a new 'crossover' this year.. so the Nissan is the old maid of the bunch...To counter everyone elses new products they offer strong lease deals to make their vehicle more attractive. When a new vehicle hits the market, the mfg's like to sell the product...as the product ages and the design gets a little dated they start to sell the deal. |
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been looking at getting into a cx-7. I am new to leaseing but it seems to be the way to go for me. I went to the mazda dealer here in Madison WI and looked at the grand touring. The "special" they a running is a 299.00 lease 36 months. The downside 10500 miles and 2900 down. Can i do better, and can I negotiate better mileage without increasing the price to much.
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Replying to: noleaf (Sep 12, 2006 5:24 pm) You never mentioned the selling price or MSRP of the CX-7 that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this vehicle's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are. You definitely can increase this vehicle's annual mileage allowance to 12,000 or 15,000 miles per year. Doing so will lower its residual value and cause its monthly payment to increase slightly. Car_man Host Prices Paid Forum |
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I am shopping around for a lease deal for a CX-7 Touring or Grand Touring in Central Florida. This is what I got so far: Lease terms: 24 months, 10,500 miles/year (enough for my wife): Residual: 70% Money Factor: 0.00204 (with top tier credit score) The dealers seem to be ready to take a lot off the MSRP. More than $2000. That's below invoice! I still have to pay $595 in aquisition fees. Beware of other hidden dealer fees!!! The only other fees I am willing to pay are tag and registration. I will keep you posted on how it goes and what the final monthly payment will be.
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Replying to: gene66 (Oct 13, 2006 9:29 am) msrp: $30,765.02 24 months---pre-pay entire lease upfront. 15,000 miles/yr. acquisition fee: $595.00 refundable security:$350.00 MN. license/registration: $389.75 MN. sales tax: $514.70 money factor: .00094 selling price: $27,765.00 residual price: $20,920.20 68% $27,765 - $20,920.20 divided 24 = $285.20--depreciation fee $27,765 + $20,920.20 x .00094 = $45.76 --finance fee ---------- $330.96 x 24= $7943.04 $7943.04 + $595.00 + $350.00 + $389.75 + $514.70 ---------- total fees for 2 years leasing: $9792.49 Figures out to: $408.02/mo., just payable upfront! |
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Replying to: gene66 (Oct 13, 2006 9:29 am) |
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I have just leased a 2007 Mazda CX-7 Grand Touring. 24 month lease, 10,500 miles/year. MSRP $26,895 Cap cost $24,616 Residual $18,826 (70%) Money Factor 0.00204 (4.9 %) Payments $329/mo + tax ONLY $150 due at signing (which included first month payment, tag and registration). My understanding is that Mazda Financial is offering $1000 lease cash support. So there was probably room to bring down my payments to $315-$319/month. But I was pretty happy with the excellent service at the dealership, so I did not feel like haggling to the last penny. I hope this helps someone else, although Mazda might change their lease programs in Nov. They may offer a better deal, who knows...
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