2016.5 Mazda CX-5 Sport - Lease Promotion - $279/mo, No Money Down - Newbie Needs Advice?

I’m a leasing newbie, but my lady really wants to lease a new Mazda.

Right now, Mazda USA is running a promotion for a 36 month lease.

“ZERO TO DRIVE LEASE-$279/Month, 36-Month Lease. $0 Down Payment, $0 Security Deposit, $0 1st Month’s Payment, $0 due at Lease Signing. Excludes taxes, title and fees. Monthly payment includes a $595 Acquisition Fee.”

This is based on the Sport model with an MSRP of $23,595. When using a promotion, Is there anything to negotiate? What can I do to get the price down? What do I need to ask for to get the best deal?

Any advice from you Hackers would be greatly appreciated. Obviously, I want to her to pay as little as possible.

Also interested in this car, it’s won a lot of awards :slight_smile:

A good deal is when you pay 1% or less of msrp for lease. So for this, target is 239. You should be able to get dealers to do better than the mational offer. Need to find out sales price and residual. Eg acura advertises 249 lease on tlx, some dealers afvertise 188. So definitely room for negotiation. Negotiate like a purchaser. Find out if anyone would sell for 20k. Tell then you are ahopping kia or hyundai and they have similar for 20k

The deal assumes a selling price of about $800 off MSRP. Depending on where you’re located, it might be possible to go lower. Use resources like Edmunds or TrueCar to see what the average price paid is.

Should I still expect to pay 1% or less of MSRP a month for a lease with No Money Down?

I looked at TruCar for pricing on this model, but most people are paying a few hundred more than MSRP for some reason.

That seemed strange to me.

That is a rule of thumb for knowing when you got a good deal with 1% MSRP with no money down. Obviously not applicable in all situations and if people want to pay above MSRP for a high demand car, then well, nothing we can do. Not all cars will lease for 1%.

Not to belabor the point. For example Volvo XC60 is leasing 289 a month, 2899 down, 10k/36 months. So total is around 389 a month and MSRP of car is 46.5k. So to me that is a good deal but obviously now a matter of personal taste whethe CX5 or XC60 is a car that fits your need.

Interesting. So what is the process that you’ve had success with? Do I negotiate the price before mentioning that I want to lease the vehicle? Do I ask up front if the dealership will do a No Money Down lease at 1% monthly?

Thanks for all the advice!

You got it. Negotiate the price first. The rest follows from there :slight_smile: And conversely, if there is not a big discount on the car, then there is not going to be a discount on the lease .

Hmmm…after negotiating the price, do you just ask for a No Money Down lease at 1% monthly?

Ask them the residual value, and money factor, then use the calculator on this site to calculate the payment. 1% is a just an estimate, not every car you can get this rate

After negotiating the price, you plug the numbers in the lease calculator and it calculates the payments. It is a mathematical formula :slight_smile:

any expert opinion on this deal and numbers?

Hi Guys, im coming up with this deal in SoCal
2016.5 Mazda CX-5 Sport Automatic

$0 Due at signing
Includes Orange County Tax
$279 w/tax
35 payments remaining

MSRP $24495
Price $23080

.00014 MF
61% Residual for 10k

This looks like the National Promotion. Has anyone been able to get a better deal than this?

well here is their national deal $269 plus tax. For SoCal its $293 w/ tax and thats if the tax, license doc fees are paid upfront. to keep it $0 due at signing all of that needs to be rolled into the payment which bumps it up another $20 per month.

And according to their website it doesn’t even include destination charge of $900.

That is for the 2016 version, the 2016.5 version is more expensive.

CX-5 is in demand right now, so that might explain the high average selling price. If I were to lease this car myself, I’d target a selling price of $1,400 off MSRP before any incentives. The national offer assumes $800 off.

So, assume I can get them to knock $1,400 off MSRP.

How much should I hope to pay for a No Money Down lease?

Hi Anthony_Lopez,

Which location and dealer is this in SoCal?