Who intends to keep their CX-5 long term?

My plan is to buy it at the end of the lease and keep it for close to ten years. I kept my old car for almost twelve years.

breiland said:

My plan is to buy it at the end of the lease and keep it for close to ten years. I kept my old car for almost twelve years.

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Curious why you didn't just buy it outright then? Did leasing really make better financial sense? It almost never does.

bxpretzel said:

Curious why you didn't just buy it outright then? Did leasing really make better financial sense? It almost never does.

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I was able to get a good lease deal ($330/month with no down payment, 10,000 miles/year.) It's like getting the first three years interest free. After financing the residual $17,300 at the end of the lease, I'll be saving around $1000 in interest (depending on what rates are at the time) over the course of the lease and later financing vs. buying it outright on a 60-month loan.

Depends on your definition of long term. I drive 60,000km a year (37000 miles) and I plan on keeping my new (as of Friday) CX-5 for probably 6 years -- so somewhere between 360,000 and 400,000 km (225000 - 250000 miles). Mazda Canada is offering unlimited KM 3 year bumper to bumper, 5 year powertrain warranty on all '15s. I opted for the extended service plan to bump it to 5 years bumper to bumper unlimited km... I'll easily put on 300,000km (188,000 miles) while under that warranty. I'll then just have one year out of warranty to keep her going before I hopefully can get a few thousand residual out of it at trade in time (for whatever vehicle comes along for the 2021 or 2022 model year... Maybe that new 3rd gen "affordable" Tesla will be out by then.).

breiland said:

I was able to get a good lease deal ($330/month with no down payment, 10,000 miles/year.) It's like getting the first three years interest free. After financing the residual $17,300 at the end of the lease, I'll be saving around $1000 in interest (depending on what rates are at the time) over the course of the lease and later financing vs. buying it outright on a 60-month loan.

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This is a decent deal from what I can tell. Not sure what the interest rates or taxes are on the lease but $330 a month is $11,880 in 3 years. As you stated on one of the other pages, the dealer stated the car is worth $29,000. Take that price minus what he will pay over the three years($11,880) and it comes to $17,120. Buy out price is $17,300 a loss of $180 to the dealer. Anyone with the math skills and finance/lease knowledge out there, am I figuring this out right?

FYI, if you use 5-20w in a Sky Active Engine you will destroy it. I was in the Mazda shop the other day and the mechanic and I was talking about different brands of oil. He pointed to a Mazda 3 with SkyActive and said it had been leased by a fleet company who serviced it with 5-20w. He said because of that it had ruined the engine. Not trying to mind your business, but thought you might want to know that fact.

breiland said:

I was able to get a good lease deal ($330/month with no down payment, 10,000 miles/year.) It's like getting the first three years interest free. After financing the residual $17,300 at the end of the lease, I'll be saving around $1000 in interest (depending on what rates are at the time) over the course of the lease and later financing vs. buying it outright on a 60-month loan.

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*shrug* my payment is $315/mo and I have 0% interest. I bought new.