CX-90 PHEV incentive in the U.S.

[youri]

It looks like there might be a way for U.S. buyers to obtain an EV incentives on the CX-90 PHEV after all. Apparently leasing the vehicle instead of buying it might allow the incentives to apply.

Leasing an EV Is a Workaround That Could Get You That Tax Credit

Buyers can get federal tax credits for EV models not on the list allowed by the Inflation Reduction Act—if they lease them.

www.caranddriver.com

 

[Bigvic2000]

I’m hoping also to see more information on this incentive. If anyone has valid information, please post, it would be very appreciated.

 

[Silly Wabbit]

Assuming there's no "market adjustments" then yes consumers can take advantage of the incentives.

 

[General Klinger]

It looks like there might be a way for U.S. buyers to obtain an EV incentives on the CX-90 PHEV after all. Apparently leasing the vehicle instead of buying it might allow the incentives to apply.

Leasing an EV Is a Workaround That Could Get You That Tax Credit

Buyers can get federal tax credits for EV models not on the list allowed by the Inflation Reduction Act—if they lease them.

www.caranddriver.com

Only works if Mazda allows it, and so far, they don't. Plenty of manufacturers do that would not otherwise qualify.

 

[Tellulied]

I’m hoping also to see more information on this incentive. If anyone has valid information, please post, it would be very appreciated.

Credits for new clean vehicles purchased in 2023 or after | Internal Revenue Service

You may qualify for a clean vehicle tax credit up to $7,500 if you buy a new, qualified plug-in electric vehicle or fuel cell electric vehicle.

www.irs.gov

Federal Tax Credits for Plug-in Electric and Fuel Cell Electric Vehicles Purchased in 2023 or After

Save up to $7,500 on qualifying vehicles!

fueleconomy.gov

 

[hoodlum]

Only works if Mazda allows it, and so far, they don't. Plenty of manufacturers do that would not otherwise qualify.

Mazda has started passing through the $7500 credit.

🔥 Auto Ninjas August Mazda Deals! LH's #1 Mazda Source! $54k CX-90 PHEV - $369 - Home Delivery to NY, NJ, CT, PA

Is this 8-9% off on phevs as well?

forum.leasehackr.com

 

[hoodlum]

I see the $7,500 Lease cash back offer is mentioned on Mazda USA site now, so you can get this from any dealer when leasing. The build config hasn’t been updated to reflect this yet.

Current Mazda Incentives & Special Offers | Mazda USA

Find great deals and special offers in your local area, like Cash Back, Low APR financing, and Lease Deals on select Mazda cars, SUVs, and Crossovers.

www.mazdausa.com

 

[OpMazda]

How about for those who has leased prior June time frame are we excluded?

 

[heywardjr]

Yes, I received the $7500 off the lease immediately so no need to wait. They also had a $500 incentive for the Labor Day holiday and another $500 off. The $7500 reduces the interest rate and makes the payment much better.

 

[sm1ke]

I got an email from MazdaUSA with more details on the $7500 lease credit on the CX-90 PHEV, so I decided to look into it a bit more.

On top of the lease credit, you can also stack the $500 Loyalty Reward and the $500 Military Appreciation Bonus Cash (where applicable). And if you are upgrading from a leased CX-9, the Loyalty Reward is increased to $1500.

I was very conservative with the value of the trade-in, thinking a 2018 CX-9 Signature with 60k mi would be valued at more than $20k. This seems like an excellent deal to me, to be able to drive a leased CX-90 PHEV for 3 years at $100 a month. Am I missing something? I've never leased a vehicle before, and I'm not considering it any time soon. I'm just curious what you guys think.

 

[HyFlyer]

*** Edit to say I answered my own question... The $285/mo lease deal includes the $7500 incentive ***

@sm1ke I received the (likely) same email today. $7500 incentive on CX-90 PHEV. Stackable.

.... Disregard haha, I see my mistake.

 

[sm1ke]

I just checked Mazda Canada to see what they were offering. Only $1875 EV Rebate on a lease, and $2500 if you finance. Not nearly as good as what's being offered in the US, unfortunately.

 

[youri]

I just checked Mazda Canada to see what they were offering. Only $1875 EV Rebate on a lease, and $2500 if you finance. Not nearly as good as what's being offered in the US.

That is because the federal EV rebate in Canada is broken down between federal and provincial. Quebec offers the same total of $7500, a lot of the other provinces only have the federal rebate and no provincial rebate.

 

[youri]

I got an email from MazdaUSA with more details on the $7500 lease credit on the CX-90 PHEV, so I decided to look into it a bit more.

On top of the lease credit, you can also stack the $500 Loyalty Reward and the $500 Military Appreciation Bonus Cash (where applicable). And if you are upgrading from a leased CX-9, the Loyalty Reward is increased to $1500.

View attachment 322725

I was very conservative with the value of the trade-in, thinking a 2018 CX-9 Signature with 60k mi would be valued at more than $20k. This seems like an excellent deal to me, to be able to drive a leased CX-90 PHEV for 3 years at $100 a month. Am I missing something? I've never leased a vehicle before, and I'm not considering it any time soon. I'm just curious what you guys think.

Interesting analysis. I think the reason it is so cheap is that you are loosing the $20000 equity that you have in your current vehicle (at the end of the lease you have nothing in residual value).

Now the big question is: Is that better or worst than keeping your current CX-9 for another three year. I might dig into the numbers because I am also debating what to do with 2018 CX-9. Note that a dealer last month offered me about 22k CAD (about 26k once tax reduction is factored in) for my 2018 at 65 000 km. It sounded like that number was negotiable but did try because I wasn’t really serious a out trading in at the time.

Did the quote above include sales tax?

 

[sm1ke]

Interesting analysis. I think the reason it is so cheap is that you are loosing the $20000 equity that you have in your current vehicle (at the end of the lease you have nothing in residual value).

Now the big question is: Is that better or worst than keeping your current CX-9 for another three year. I might dig into the numbers because I am also debating what to do with 2018 CX-9. Note that a dealer last month offered me about 22k CAD (about 26k once tax reduction is factored in) for my 2018 at 65 000 km. It sounded like that number was negotiable but did try because I wasn’t really serious a out trading in at the time.

Did the quote above include sales tax?

Good points. I'm leaning more towards keeping the CX-9 and enjoying no car payments. The only reason I'd even consider a CX-90 is for the peace of mind in not having to deal with a potential coolant leak down the road, but because the CX-90 is so new, there's no way to know if it might develop an issue of similar risk. Even if we had a similar lease incentive in Canada, I'd probably still have a hard time committing because I just don't like the exterior as much as the CX-9, as superficial as that is.

 

[dunhillmc]

I got an email from MazdaUSA with more details on the $7500 lease credit on the CX-90 PHEV, so I decided to look into it a bit more.

On top of the lease credit, you can also stack the $500 Loyalty Reward and the $500 Military Appreciation Bonus Cash (where applicable). And if you are upgrading from a leased CX-9, the Loyalty Reward is increased to $1500.

View attachment 322725

I was very conservative with the value of the trade-in, thinking a 2018 CX-9 Signature with 60k mi would be valued at more than $20k. This seems like an excellent deal to me, to be able to drive a leased CX-90 PHEV for 3 years at $100 a month. Am I missing something? I've never leased a vehicle before, and I'm not considering it any time soon. I'm just curious what you guys think.

TT&L most likely

 

[hoodlum]

It looks like PHEV pricing is increasing next month.

Reddit - Dive into anything

www.reddit.com

The PHEV will be getting a price increase next month. $1500 for the Premium [Plus] and $2500 for the Preferred

It's accurate. I'm a sales manager for a Mazda store. Received this info today from Mazda corp.

 

[crikey]

It looks like PHEV pricing is increasing next month.

Hmmm…outside of Tesla, this would be the 1st time I’ve heard of an MSRP increase in the same model year for a manufacturer.

Since the source is a sales manager of a dealership, it maybe a dubious move to get potential buyers to buy now so the monthly sales quotas can be met. It is the end of the month, after all.

There is a 1st time for everything though.

 

[youri]

This seems like an excellent deal to me, to be able to drive a leased CX-90 PHEV for 3 years at $100 a month. Am I missing something? I've never leased a vehicle before, and I'm not considering it any time soon. I'm just curious what you guys think.

So ran a similar numbers calculation for the Canadian (quebec) market. The numbers for a Canadian CX-90 PHEV GT with Quebec and federal rebate (7500$) + Mazda loyalty and military rebate. 3 years loan with a trade in of $22000 for a 2018 CX-9 GT with approx 70 000 km.

The result are $187 monthly. Not too shabby, but looking at the number I realized that the reason it is so low is that the entire $22000 trade in value is applied on the 3 year lease payment amount (the total payable). The total payable is the total cost of the 3 year lease (which is then divided by months). So in this example, the total payable without the 22000$ trade in would be 28,748.56 instead 6,748.56 with the trade in value.

The issue with this (i.e. where this may not make economical value). Is that a 5 year old CX-9 (2018) in this example, is unlikely to lose all its value in 3 years. Let's assume the value of the 2018 at the end of the next 3 year has dropped to 15,000$. Then the vehicle lost 7,000$ over that period. If you trade it in to lease, you will loses 22,000$ over the three years, or $15,000 more than if you would have kept the vehicle.

So the total 3 year cost for this option is $28,748.56, vs the total 3 year cost of keeping your 2018 CX-9 for another 3 year is $7000k + 3 year worth of repair.

And, at the end of the three year lease, if you want to get into another 3 year lease, you won't have a car to trade in any more for the next lease. The same 3 year lease with no trade in value comes up to $909 per month.

 

[Tiggs]

I leased a PP PHEV and got the $7500 lease cash + $500 loyalty cash, + additional discounts to a net lease of about $47K. The MF isn't great (.00329 = 7.9%), where as my previous CX-9 lease was (.00111)