Results 1 to 14 of 14

Thread: Leasing

  1. #1
    Registered Member

    MX5

    Join Date
    Sep 2018
    Location
    Glendora
    Posts
    92

    Leasing

    Hi,

    Looking to lease a CX5 early next year and add a tow hitch/wiring myself. Have owned 10 cars since 2004 (all purchased) but never leased before. Been reading the variables of lease. I am also a current ND MX5 owner so looks like there is a customer loyal of $500.



    MSRP $24,150 plus $995 destination charge. Payment based on capitalized cost of $21,705 after $1,935 Mazda Customer Lease Support. Total payments of $7,888. Dealer participation required.

    1) On Mazda site, what is the "Mazda Customer Lease Support" means. Is that a credit to the customer?

    2) When returning a lease, does Mazda dealership inspect every little wear and tear? I was told by a friend owns BMW to have about $2k ready when returning a car.

    3) What is the current money factor now?

    Thanks,
    SVHO

  2. #2
    Registered Member CX-5um's Avatar

    13' CX-5 and 16' Mazda6 both Touring w/Tech/Bose

    Join Date
    Jul 2012
    Location
    Glendale, AZ
    Posts
    2,766
    My only experience with leasing was through VW and Honda. You could have small dings, scratches, ect and they don't charge you. Has to be something like 5-inches or so. There should be a lease FAQ somewhere. They will charge you if the tires are down to a certain point though. That said we paid $0 after returning 3-4 car leases.

  3. #3

  4. #4
    Registered Member

    CX5

    Join Date
    Jul 2018
    Location
    Georgia
    Posts
    43
    When entering into a lease, it's worth considering getting the lease protection insurance that covers you at lease turn in for anything that the manufacturer sees as beyond wear and tear. In most cases, I think that it covers you for about $5000 worth of excess. It's a judgement call between the cost of that insurance, and the cost that they may hit you with at the lease turn in if you don't have it. Most companies handle the lease turn in via a process that involves you meeting with an authorized inspector a few weeks before the turn in date. It's the inspector who decides what's wear and tear and what isn't. The other thing to consider is what incentives the dealership can offer on a sale versus a lease. It may make more sense to buy the vehicle and sell it after three years, rather than to lease it. Also, consider your mileage. If the car will be used A to B in a known pattern where you can pretty accurately calculate your mileage when returning the vehicle, then a lease is fine, but if you're going to be driving out of state and racking up the miles, don't go near a lease on that vehicle.......they'll kill you on the excess mileage.

  5. #5
    Registered Member

    2017 CX5 GT AWD Premium

    Join Date
    Dec 2017
    Location
    Ventura County, CA
    Posts
    208
    Quote Originally Posted by svhofxho View Post

    2) When returning a lease, does Mazda dealership inspect every little wear and tear? I was told by a friend owns BMW to have about $2k ready when returning a car.
    We've leased 2 BMW's, a 2013 X5 Diesel and a 2015 i3...as long as you take reasonable care of them, you will owe nothing as far as wear and tear. As CX-5um said, tires are a big thing, but more so on German cars than most Japanese cars due to their aggressive camber. Our CX5 tires are wearing great so far.

    We got out of the leasing cycle when we turned in our i3 about a month ago. We had to install new tires and we were bumped up against our allotted miles, so we parked it for the last month of the lease. On both of our previous leases, we were always restricted on the miles we could drive...it wasn't a comfortable feeling for me.

  6. #6
    Registered Member

    MX5

    Join Date
    Sep 2018
    Location
    Glendora
    Posts
    92
    Quote Originally Posted by wrxray View Post
    We've leased 2 BMW's, a 2013 X5 Diesel and a 2015 i3...as long as you take reasonable care of them, you will owe nothing as far as wear and tear. As CX-5um said, tires are a big thing, but more so on German cars than most Japanese cars due to their aggressive camber. Our CX5 tires are wearing great so far.

    We got out of the leasing cycle when we turned in our i3 about a month ago. We had to install new tires and we were bumped up against our allotted miles, so we parked it for the last month of the lease. On both of our previous leases, we were always restricted on the miles we could drive...it wasn't a comfortable feeling for me.
    Thanks. I usually avg about 15k miles. With the ND Miata as a second car, I should be able to manage it. Just have an itch to replace my old Tacoma truck. I am aware of the aggressive camber on German cars and their run flat tires are expensive.

  7. #7
    Registered Member

    2017 CX5 GT AWD Premium

    Join Date
    Dec 2017
    Location
    Ventura County, CA
    Posts
    208
    Quote Originally Posted by TDK1044 View Post
    When entering into a lease, it's worth considering getting the lease protection insurance that covers you at lease turn in for anything that the manufacturer sees as beyond wear and tear. In most cases, I think that it covers you for about $5000 worth of excess. It's a judgement call between the cost of that insurance, and the cost that they may hit you with at the lease turn in if you don't have it. Most companies handle the lease turn in via a process that involves you meeting with an authorized inspector a few weeks before the turn in date. It's the inspector who decides what's wear and tear and what isn't. The other thing to consider is what incentives the dealership can offer on a sale versus a lease. It may make more sense to buy the vehicle and sell it after three years, rather than to lease it. Also, consider your mileage. If the car will be used A to B in a known pattern where you can pretty accurately calculate your mileage when returning the vehicle, then a lease is fine, but if you're going to be driving out of state and racking up the miles, don't go near a lease on that vehicle.......they'll kill you on the excess mileage.
    This is spot on.

    Also, to add to it a bit, some cars lease very well (our old i3 for example - huge incentives and state/federal rebates). My last 2 cars, a 2016 Audi SQ5 and my current 2018 BMW M2 had horrible lease numbers, so we purchased both of these. Never checked on our CX5 as we knew we would be driving it excessively.

  8. #8
    Registered Member

    MX5

    Join Date
    Sep 2018
    Location
    Glendora
    Posts
    92
    Quote Originally Posted by wrxray View Post
    This is spot on.

    Also, to add to it a bit, some cars lease very well (our old i3 for example - huge incentives and state/federal rebates). My last 2 cars, a 2016 Audi SQ5 and my current 2018 BMW M2 had horrible lease numbers, so we purchased both of these. Never checked on our CX5 as we knew we would be driving it excessively.
    Do you go in person or deal with the internet dept to get the final quotes?

  9. #9
    Registered Member

    2017 CX5 GT AWD Premium

    Join Date
    Dec 2017
    Location
    Ventura County, CA
    Posts
    208
    Quote Originally Posted by svhofxho View Post
    Do you go in person or deal with the internet dept to get the final quotes?
    I don't set foot in a dealership until I have an online deal worked out. We just bought our M2 last weekend... I had about 12 dealers working on deals for me. I drove 150 miles to get the best deal and a car that had no test drive miles. I have done this for the last 5 cars we bought. I keep a spreadsheet of each car I'm interested in, equipment each car has, and the deal the dealership is offering. It quickly gets down to a couple of dealerships. In fact, with the M2, the dealership fed ex'd the contract to me so all the paperwork was done before my arrival to get the car.

  10. #10
    Registered Member

    2017 CX5 GT AWD Premium

    Join Date
    Dec 2017
    Location
    Ventura County, CA
    Posts
    208
    Just realized you are local to me... Look at Mazda of Orange, that's where we got our CX5 last December. I can get you in touch with our sales person there... She was great. Send me a PM if you are interested.

  11. #11
    Registered Member

    MX5

    Join Date
    Sep 2018
    Location
    Glendora
    Posts
    92
    Quote Originally Posted by wrxray View Post
    Just realized you are local to me... Look at Mazda of Orange, that's where we got our CX5 last December. I can get you in touch with our sales person there... She was great. Send me a PM if you are interested.
    Will do. Same with buying, don't want to be at their location and mercy (where they walk back and forth wasting time). I am also considering a BMW X3 (something that can tow a single jetski/trailer about 1300lbs), will have to see what the deals are come January.

    I just don't like visiting the dealership (with BMW, you have to go there for maintenance). I figure with the Mazda, I can just do it myself. When my Tacoma was new, I didn't even use the free maintenance once.

    Got to drop of my Miata for a top replacement tomorrow .
    Last edited by svhofxho; 09-12-2018 at 01:10 AM.

  12. #12
    Registered Member

    2017 CX5 GT AWD Premium

    Join Date
    Dec 2017
    Location
    Ventura County, CA
    Posts
    208
    Quote Originally Posted by svhofxho View Post
    Will do. Same with buying, don't want to be at their location and mercy (where they walk back and forth wasting time). I am also considering a BMW X3 (something that can tow a single jetski/trailer about 1300lbs), will have to see what the deals are come January.

    I just don't like visiting the dealership (with BMW, you have to go there for maintenance). I figure with the Mazda, I can just do it myself. When my Tacoma was new, I didn't even use the free maintenance once.

    Got to drop of my Miata for a top replacement tomorrow .
    Agree, not a fan of dealerships, specifically for the purchasing aspect. I have a great BMW dealer for service that I've had good luck with so far (Valencia BMW).

    If you are looking for an X3, wait for the X3M which is coming out soon. It's gonna be a monster (priced like one too I'm sure)! A major reason we chose the CX5 was because it drives and feels very German, except for the relatively low HP. We put lighter wheels and tires on it (about 8 lbs lighter per corner) and that helped with the off the line performance. As far as maintenance, the CX5 is extremely easy to do an oil change on (all the maintenance I've done so far).

    Good luck with your Miata top!!

  13. #13
    Registered Member

    MX5

    Join Date
    Sep 2018
    Location
    Glendora
    Posts
    92
    Quote Originally Posted by wrxray View Post
    Agree, not a fan of dealerships, specifically for the purchasing aspect. I have a great BMW dealer for service that I've had good luck with so far (Valencia BMW).

    If you are looking for an X3, wait for the X3M which is coming out soon. It's gonna be a monster (priced like one too I'm sure)! A major reason we chose the CX5 was because it drives and feels very German, except for the relatively low HP. We put lighter wheels and tires on it (about 8 lbs lighter per corner) and that helped with the off the line performance. As far as maintenance, the CX5 is extremely easy to do an oil change on (all the maintenance I've done so far).

    Good luck with your Miata top!!
    Thanks. I was reading on the Miata forum where several members have both the Miata and Cx5. They mentioned the Cx5 handling so I was curious and took a test drive. I also drove friends Lexus NX/RX of the current models.

  14. #14
    Registered Member 7eregrine's Avatar

    2016.5

    Join Date
    Jan 2017
    Location
    CLE
    Posts
    4,300
    Quote Originally Posted by wrxray View Post
    We had to install new tires and we were bumped up against our allotted miles, so we parked it for the last month of the lease. On both of our previous leases, we were always restricted on the miles we could drive...it wasn't a comfortable feeling for me.
    Leasing is far easier when you don't have to worry about this. Wife did less then 8K /year and we had a 12K lease so we never had to worry.

    Having a second car, OP, would be a big help. If you didn't have that I'd say HELL NO.

Similar Threads

  1. Question regarding leasing...
    By Jliao in forum Off Topic
    Replies: 11
    Last Post: 09-29-2006, 06:33 PM
  2. Leasing deals.....
    By No6thGear in forum Mazda6 Lounge
    Replies: 9
    Last Post: 09-10-2006, 06:46 PM
  3. Question about leasing
    By eMKay in forum Protege5
    Replies: 8
    Last Post: 08-27-2002, 04:55 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •