Last post on May 23, 2013 at 3:53 PM
You are in the Mazda CX-5
What is this discussion about?
Mazda CX-5, Car Buying, Car Leasing, SUV
#15 of 100 Re: Cap Cost / Residual / Money Factor ??? [supertoyz]
Apr 28, 2012 (9:03 am)
I have leased cars in the past and always found the dealer's residual price at the end of the lease to be on the high side. (if I was so inclined to purchase at the end of the lease.) Since most cars lose 50% of the MSRP after 3 years-my experience was that the residual buyout price was usually 3 ~ 4000 more than the 3 year 50% "off" so called "ACV" price would be set at. In the end- the price of merchandise is whatever the customer is willing to pay-and the dealer can set any price they want. The question is--can they receive that price?
#16 of 100 Re: Cap Cost / Residual / Money Factor ??? [fonefixer]
Apr 28, 2012 (12:24 pm)
That's the beauty of a lease, you have that option in the end. Put it up for sale a month before the lease end and see what happens. If it sells great, pocket the money and go get something else, if it doesn't sell turn it in a walk away. You don't have that luxury if you buy. If you can't sell it for what you still owe well then you still owe it. If the market value of your lease is less than you paid you can just walk away from it. Don't get me wrong, buying and leasing are both expensive, leasing just gives you a nice option to buy or walk away three years down the road. Like I said before I've got two leases that are up right now, ones on a CX-9, my dealer has called me several times on this one wondering what I'm going to do with it. Apparantly they have a list of people waiting for CX-9's to come in off from lease. My buyout is $19k and they are offering me $25k as a straight out buy. However I really like the CX-9 so I think for $19k I'll keep it. Our other car is an '09 Outback, kind of the same story here, dealer is offering $21K to buy it, they are popular around here so I'm pretty sure I could get $23k easilly, the buyout is just over $15k. On this one I think I'm going to sell it and get a CX-5. I've only had 1 lease that I didn't sell for a nice profit at lease end. It was a '97 F150 which was when the new style at the time had just come out. Ford had the residual at 70% for three years which made the payment insanely cheap. At the end the truck wasn't worth anywhere near what they had projected, I turned in my keys and got something else. I didn't even try to sell that one.
#17 of 100 May Residual/MF
May 03, 2012 (8:46 pm)
I've ordered a 2013 CX-5 GT AWD w/ tech package, which will arrive either at the very end of May or early June. Would you mind sharing MMC/Chase residual and money factor for 24 and 36 months at 12k and 15k miles per year? Are there any incentives besides $500 owner loyalty? I turned in a 2010 Mazda3 lease at the end of April.
#18 of 100 Re: Cap Cost / Residual / Money Factor ??? [tinycadon]
May 04, 2012 (6:28 am)
I believe a statement "don't lease, ever!!!' is overly simplistic. Leasing can be a great way to go for many people. Particularly people who enjoy driving a new vehicle.
Anyone with a decent credit score can lease virtually any vehicle with nothing down. I, for example, have leased five vehicles over the past few years and I have never put a single dollar down.
The better leases, Acura for example, have GAP insurance built into the lease. The better leases, Acura again for example, also have money built in for routine wear and tear type issues at the end of the lease. For my current Acura lease, it is $1,500.
The key to achieving a good lease is to (1) lease at a time when the manufacturer is providing support for the lease, often in the form of a low money factor, (2) lease a vehicle with a solid resale value to get a higher residual value, and (3) negotiate the selling price of the leased vehicle just as you would negotiate the selling price on a purchased vehicle.
As an illustration, I currently lease a vehicle for about $450 a month. I achieved this monthly price as described above. The finance monthly payment for that vehicle, at 1.9%, with the same discount for both the leased and purchased price is $686. Clearly a significant difference and I did make any sort of down payment. I simply signed on the dotted line and drove off.
When disposing of a leased vehicle a person can do about anything. The leased vehicle can be bought, sold, traded or (can't do this with a purchased vehicle) just given back when the lease is over.
The simple fact is, people who reject leasing outright do not fully understand the value of leasing. Leasing may not be for everyone but for some, like me, leasing is the only way to go.
#19 of 100 Re: May Residual/MF [jeisensc1]
May 18, 2012 (12:49 pm)
My CX-5 arrived yesterday, and I'm picking it up tomorrow. I would be helpful to get the buy rate residual and money factor if you could please.
#20 of 100 Latest Current MF and Residuals?
May 19, 2012 (6:55 am)
Looking for mf and residual for Grand Touring FWD and AWD (if they differ) 15k 36 months. Thanks in advance!!!
#21 of 100 Re: May Residual/MF [jeisensc1]
by Car_man HOST
May 20, 2012 (12:14 pm)
Hi John. Chase's May buy rate lease money factor and residual value for a 24-month lease of a 2013 CX-5 GT AWD with Tech and 15,000 miles per year are .00212 and 63%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical 36-month lease are .00123 and 54%.
If you were to lease with only 12,000 miles per year, this vehicle's residual values would be I believe 1% higher.
The $500 loyalty cash that you mentioned is the only cash incentive on this vehicle right now.
Prices Paid: Buying & Leasing Experiences Forum
#22 of 100 Re: Latest Current MF and Residuals? [tonystarks22]
by Car_man HOST
May 20, 2012 (12:20 pm)
Hey tonystarks22. Chase's May buy rate lease money factor and residual value for a 36-month lease of a 2012 CX-5 Grand Touring AWD with 15,000 miles per year are .00123 and 54%, respectively for consumers who qualify for its top credit tier.
The money factor for a GT FWD model would be the same, but the residual value would be 2% lower.
Prices Paid: Buying & Leasing Experiences Forum
#23 of 100 Re: Latest Current MF and Residuals? [Car_man]
Jun 01, 2012 (9:51 am)
Any new programs/changes to lease program for June? Are they still the same for May?
#24 of 100 Re: Cap Cost / Residual / Money Factor ??? [supertoyz]
Jun 02, 2012 (7:48 am)
Help me out. I am still not convinced that you have equity in your lease and still contend that you have 0 equity during the lease. Is a leased vehicle included in net worth calculations? Don't you have to own something to have equity in it? You cannot modify the leased car by contract because you don't own it.
The lease end scenario that you describe is a flip. You are buying the car from the leasing company for 1 value and selling it for a higher value. During the lease you do not own any part otherwise you could liquify. If your buyout is $10k which you give to leasing company and sell it for an ACV of $12k, you acquired (not recovered) equity at the point of the buyout and liquified it at the point of sale.