Typical lease deals?

I have been planning on buying, but out of curiosity, what are the lease deals you guys have gotten? I see deals on Mazda's website for the base Sport, but no other trims. I'm particularly interested what a low mileage lease would be for the Signature. Assuming $3K down.

Didn't see anything in the "pricing" thread.

Thanks

There was another member here who got a quote on the signature, with the same terms as the Sport Lease special.
If I recall it was around ~ $240 a month more for the Sig over the Sport.

mazdadude said:

There was another member here who got a quote on the signature, with the same terms as the Sport Lease special.
If I recall it was around ~ $240 a month more for the Sig over the Sport.

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Right now, Mazda's site offer is $369/mo for 36 months / $2799 down for the Sport.

$240 more a month seems too high. That equals $8,640 more over 36 months when the total payment for the Sport is about $16,000. Possible but just seems high.

JPL said:

Right now, Mazda's site offer is $369/mo for 36 months / $2799 down for the Sport.

$240 more a month seems too high. That equals $8,640 more over 36 months when the total payment for the Sport is about $16,000. Possible but just seems high.

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It seemed like a lot to me also. But the price difference between the Sport and Sig is $13,000..

Residual value of the SIG at 36 k and 36 mos is 56%
Residual value of the SPORT 2wd at 36 mos is 58%

taken from this site: http://residuals.cula.com/vehicleresidualcalculator/consumerlease.aspx

Dealers love leasing because it's so easy to slip in extra fees without the buyer (lessee) noticing. I'd recommend checking out leasehackr.com for the basics on calculating lease prices.

With interest rates close to zero, lease payments are essentially just a monthly payment that covers the difference between the cost of the new car and the value of the car at the end of 39 months (known as the residual value). Mazda CX-9's have a relatively low residual value (non-negotiable, set by Mazda) creating a bigger difference between the new and used values of the car, which results in larger lease payments than you'd find in cars with higher residual values.

Besides making sure that the dealer isn't adding in a bunch of junk fees or expensive accessories, the easiest way to insure you're getting an acceptable lease deal is to start by negotiating a good price on the car. (Make sure that you're comparing prices before rebates and taxes, but including all other fees.)

If you work out a lease properly (or a loan for that matter) the net cash flow for the period you own the car should be close to the same whether you lease, borrow, or pay cash. For example, my lease deal looks like this:

MSRP $43,170
Negotiated Price (before rebate) $39,836
Residual Value (57%) $24,607
So my lease is paying for the difference between $39,836 and $24,607 (plus some interest and fees) divided over 39 months.

With leasing fees (non-negotiable), a $735 rebate, and a $500 down payment, my Base Payment is $429.34 ($467.98 with tax.)

If I buy the car at the end of 39 months, I'll have paid $43,358 total, versus $43,183 if I had paid cash for it.

I have never considered leasing a car before, but with all the new technology I thought it would be nice to have 39 months before I have to decide whether to commit to ownership or not. I plan on keeping the car, but like having the option to just hand it back if I want.

If my goal had been to find a great lease deal, I would have looked at cars with the largest discount off of MSRP and the highest residual value. Those two factors, combined, can significantly lower the difference between sales price and buy-out price, and that's what the lease payments are paying for - that difference.

Koert said:

.....For example, my lease deal looks like this:

MSRP $43,170
Negotiated Price (before rebate) $39,836
Residual Value (57%) $24,607
So my lease is paying for the difference between $39,836 and $24,607 (plus some interest and fees) divided over 39 months.

With leasing fees (non-negotiable), a $735 rebate, and a $500 down payment, my Base Payment is $429.34 ($467.98 with tax.)

If I buy the car at the end of 39 months, I'll have paid $43,358 total, versus $43,183 if I had paid cash for it.

I have never considered leasing a car before, but with all the new technology I thought it would be nice to have 39 months before I have to decide whether to commit to ownership or not. I plan on keeping the car, but like having the option to just hand it back if I want.

If my goal had been to find a great lease deal, I would have looked at cars with the largest discount off of MSRP and the highest residual value. Those two factors, combined, can significantly lower the difference between sales price and buy-out price, and that's what the lease payments are paying for - that difference.

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good info, thx so does makes sense if you're not planning to buy it at the end of lease, also is there a mileage limit at the end of your lease, and also they check for any scratches or dents at the end if you don't plan to keep right ....

your lease seems more different than what Mazda advertises on their commercials $279/month,
yours is based on Residual Value (57%) $24,607 at the end of 39 months and you pay the difference until then.

mazdadude said:

It seemed like a lot to me also. But the price difference between the Sport and Sig is $13,000..

Residual value of the SIG at 36 k and 36 mos is 56%
Residual value of the SPORT 2wd at 36 mos is 58%

taken from this site: http://residuals.cula.com/vehicleresidualcalculator/consumerlease.aspx

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By my math then, a 36 month lease on a Signature would be based on about $20K depreciation. After $3K down, you're looking at $475/mo before any fees/taxes...

JPL said:

By my math then, a 36 month lease on a Signature would be based on about $20K depreciation. After $3K down, you're looking at $475/mo before any fees/taxes...

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I used the link I included earlier and used their calculator. Here are the number based on MSRP, $3k down, 36 mo, 36k miles, and an 8% tax

Term -- Adjusted Cap -- Cost Residual -- Base Payment -- Sales Tax % -- Sales Tax Amount -- Total Payment

-- 36 -- $43,595.00 --- $25,648.00 ----- $567.77 ---------- 8.00 ------------ $45.42 ------------ $613.19

1--Don't tell the salesman you want to lease. Keep him guessing.
2--Negotiate hard to get the sales price down. If he starts talking about monthly payments and draws the 4-square on a paper, ignore that or walk out. https://consumerist.com/2007/03/30/...ff-with-the-four-square-heres-how-to-beat-it/
3--If there's a trade in, negotiate hard to get the value up. The trade in is a separate deal from the purchase or lease. The real value of your trade is shown on the Mannheim Market Report, what that model is actually selling for at the wholesale auction, not Kelly or NADA.
4--Now tell them that you want to lease.
5--Negotiate the lowest possible money factor. That's like the interest rate you'll pay.
6--As mentioned, there are some fees that are non-negotiable and some that might get packed on just to juice the dealer's profit. Antennas up! Don't pay a down payment, but expect to pay a security deposit.

http://www.fightingchance.com/auto_leasing.php

blackcx5 said:

... so does makes sense if you're not planning to buy it at the end of lease, also is there a mileage limit at the end of your lease, and also they check for any scratches or dents at the end if you don't plan to keep right ....

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Theoretically, the cost is the same whether I buy it or turn it in. But theory deviates from reality in a couple of ways. First, the residual payment isn't cast in stone - at the end of the lease it's possible to negotiate the price down to market value of the used car. Second, saying that you have a car that's worth $10,000 more than what you paid for it is great. But the actual process of buying it and then selling it at the market price is tougher than it sounds.

I don't drive much, so I went with a low mileage lease; I think 10,000 miles a year or so. The salesperson told me that any body damage that could be covered up by a credit card wouldn't be exempt from repair charges. I'm planning on buying the car at the end of the lease, but I like the fact that I can change my mind if I want.

I leased because first, money is tight, second.. long term reliability and fuel economy are unproven as of yet on this model. And who knows, a great plug in 3rd row cross may be available in 3 years that will get my fuel cost down to zero. Maybe not, but fingers crossed. The current local sport FWD deal is $2k down $399 a month before taxes/fees. We're paying less than $399 including all taxes/fees on 12k/yr miles. If it works out that this car is as good as I think it is, we will probably hit a credit union after 36 months and keep it much longer.

amthanhpro said:

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That's a pretty good deal!

If you can score a lease deal at $375 or less on a sport.. and assuming you will save $50 to $100 a month on gas costs versus a v6 or v8 3row.. CX9 sport lease starts looking real good! Anyway this is how I talked myself into choosing a CX9. Maybe it will work for some of the other folks out there. The increase in reg/insurance cost is the big negative coming from an older vehicle however, something to remember.

I am just about to sign a lease on a 2017 CX-9 Grand Touring in Machine Grey. MSRP on the car is $43,510 but the dealer is doing about $1000 under invoice after some haggling. By True Car and Edmunds that's a very very good deal on the invoice.

I have good credit so the money factor is .00095 and the residual on the car is 58%

I'm paying $480 a month with NOTHING DOWN apart from "inception fees" of $2213 which includes NY State sales tax (8.875%, first month's lease, inspection and plate fees). The lease acquisition/bank fee of $595 is baked into the monthly.

It's a pretty good deal....I wanted to get down under $480 but at this point I'm done with the process and want the car.

We sold a 2006 X3 and it will cover the up front money and the first 10.5 months, so. I want the freedom of being able to switch cars every 3 years and the mindless aspect of worrying just a bit less about the car. Obviously we will take good care of it and I'll even get bumper guards for parking (b/c we live in NYC) but city living is tough on a car, and this is just easier.

The strategies outlined above do work....you have to negotiate the car as if you're buying then do the lease. Typically though the money factor and residual are hard to negotiate as they are set by the bank. It's like trying to negotiate a mortgage rate....it mostly depends on your credit score. The "better' the car is the better the residual will be....CX-9 do well. 58% is pretty high.

All in all I'm happy.

dulanypeters said:

I am just about to sign a lease on a 2017 CX-9 Grand Touring in Machine Grey. MSRP on the car is $43,510 but the dealer is doing about $1000 under invoice after some haggling. By True Car and Edmunds that's a very very good deal on the invoice.

I have good credit so the money factor is .00095 and the residual on the car is 58%

I'm paying $480 a month with NOTHING DOWN apart from "inception fees" of $2213 which includes NY State sales tax (8.875%, first month's lease, inspection and plate fees). The lease acquisition/bank fee of $595 is baked into the monthly.

It's a pretty good deal....I wanted to get down under $480 but at this point I'm done with the process and want the car.

We sold a 2006 X3 and it will cover the up front money and the first 10.5 months, so. I want the freedom of being able to switch cars every 3 years and the mindless aspect of worrying just a bit less about the car. Obviously we will take good care of it and I'll even get bumper guards for parking (b/c we live in NYC) but city living is tough on a car, and this is just easier.

The strategies outlined above do work....you have to negotiate the car as if you're buying then do the lease. Typically though the money factor and residual are hard to negotiate as they are set by the bank. It's like trying to negotiate a mortgage rate....it mostly depends on your credit score. The "better' the car is the better the residual will be....CX-9 do well. 58% is pretty high.

All in all I'm happy.

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Good info, thanks. Congrats on the deal.

Thanks. To be honest you could go on forever. With the internet, the tools now available to do research and forums like these, you could spend months and months down a rabbit hole. I did my due diligence and was deciding between a few cars....and once I settled on one I did what I could to get a great deal. But I've heard guys who chase cars out of state etc etc. Just not worth THAT much time or effort to save $7 a month on a lease.

My concern whenever car shopping is avoiding the feeling that I've just been fleeced. And I don't think that happened. I'm sure there are still people out there who pay MSRP, which is just silly given the tools available (True Car, Edmunds, etc).....but if you think about it's only been a few years that this level of transparency was opened up. When I bought my last car, in 2006, you could do internet research but pretty much the price was the price (or so it felt).

Dealers really don't make that much money on each car (these days), and the salesman make even less. I guess if they move enough of them each month it adds up. But the mark ups are in service and accessories.