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Prices Paid: Buying & Leasing Experiences Mazda CX-9 Lease Questions
494 messages, Last post on Jul 21, 2008 at 3:51 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Here's a proposal from a dealer today. MSRP: $40,215 Negotiated price: $35,315 27 month lease, 12K miles per year $2,000 TOTAL out of pocket Payment including sales tax is $449.59 Additional Excise monthly amount is $39.85 Cost and monthly payment increase if I added Sirius and remote start is $698 for Sirius and $399.95 for remote start for a payment increase of $44.32. Vehicle did not have Sirius or Remote Start. I was told that all vehicles have these items installed at the port in NJ. I don't know if the whole amount can be residualized even know they are installed exactly as if they were done factory. Any input on this deal would be appreciated. |
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I'm not sure if this is the correct forum for this, but I'll give it a shot. I'm new to the leasing game and want to calculate the payments myself in a spreadsheet so I can see if the dealer's numbers make sense. We're looking at a CX-9 Touring AWD with Bose/Moonroof option MSRP: 35,835 Residual: 59% Base Cap: 33,694 Trade-in: 4,500 Term: 27 months Miles: 12k/year Money factor: .00028 Quoted monthly payment: 397 I think I am getting screwed on the fees, but it's hard for me to calculate. As far as I know, tax is paid up front in NJ based on the monthly lease cost. So the total tax would be 397 * .07 * 27 = 750.33. The inception fees also include the first month's payment of 397. So those combined are ~1147. Doing some calculations shows me that my net cap must be 31,649 (2,225 cap cost reduction) in order for the payments to come out to 397. Which means that my total inception fees must be 2,275. Which finally means there are 1,128 in "other fees" (not tax or first month's payment). That seems very high to me. That being said, how is it possible to change parameters, such as the base cap, and calculate new monthly payments? I need to calculate the monthly payments in order to calculate the tax and the first payment into the inception fees. The total inception fees adjust my cap cost reductions (subtracted out of my down payment), which are needed to calculate my monthly payments. I am seeing some circular logic here. Can anyone shed some light on this?
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Replying to: manonstreet (May 12, 2008 1:11 pm) here is a good site to help figure your monthly payments: http://leaseguide.com/calc.htm |
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Cx-9 AWD Grand Touring 2008 GT Assist package Blind spot, compass auto mirror, roof rails, remote engine start, moonroof Bose-6DC, Towing package, Serius Sat radio. $3000 down (includes trade-in) Nothing due at signing or delivery 36 mos, 12,000 miles Gross capitalized cost 39,170 residual value 21,000 $510 per month (first month included in $3,000 down pymt/trade in) Thanks for any comments. T |
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Replying to: jetfan (May 07, 2008 9:40 am) |
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Replying to: r000 (May 07, 2008 5:14 am)
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Does anyone happen to know the minimum FICO score required by Mazda American Credit in order to receive their top-tier leasing rates? This information would be greatly appreciated. Thanks! |
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Hello: I offered: 2008 Mazda CX-9 FWD 4dr Grand Touring Invoice MSRP Base $30,842.00 $33,355.00 Options $5004.00 $5,860.00 Destination $635.00 $635.00 _______________________________ Total $36,481.00 $39,850.00 Options: Invoice MSRP BS1 Blind Spot Monitoring System $172.00 $200.00 1EP Rear Entertainment System WBose Audio PKG $2,202.00 $2,560.00 2PA Grand Touring Assistance Pkg $2150.00 $2500.00 RCK Roof Rails $$200.00 $250.00 RSE Remote Engine Start $280.00 $350.00 Mazda only requires the first payment at signing. I will also pay Sales Tax (6.25%), title and License at signing. I have top tier credit (over 700). Here is my offer: MSRP: $39850.00 Cap Cost: $34981 ($1500 below invoice) Miles/Year: 15K Residual Value: 54% Money Factor: .00088 (2.112%) Term: 36 months Depreciation Fee + Finance Fee = Lease Payment Depreciation Fee = [34981 - (.54)(39850)] / 36 = 373.94 Finance Fee = [34981 + (.54)(39850)]* .00088 = 49.72 Lease Payment = 373.94 + 49.72 = 423.66 Response from Dealer: MSRP: $39850.00 Cap Cost: $35846 Miles/Year: 12K Residual Value: 47% Money Factor: .00150 (3.6%) Term: 36 months I pay Tax, Title, License and First Payment at signing = approx $3000 Any thoughts? I thought the residual was a bit low, but every dealer in the Dallas Fort Worth Metroplex has it at 47%. Thanks for your replies! |
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| Local dealership in NE Ohio has basic model at $26,988. $988 due at signing - 10.5K/year 24 month lease. $268/month. Seems too good. Is it? | |
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Replying to: shark_shirt (May 20, 2008 2:03 pm)
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