New at this… So I just started fishing around for a price on a '20 CX-5. The first “deal” sent to me is the following (pardon the mess but I wanted to show everything sent to me):
'20 BASE MODEL AWD
$31,610
PLUS
GT Premium Package
$1,625
Registration & Fees include $235
DMV fee, $75 documentation fee, $12.50 tire fee and $10 inspection fee.
Security deposit waived. The capitalized cost of your lease is the Dealer Price plus $595 lease acquisition fee.
So I asked Edmunds and the residual is 58% which matches. The MF on Edmunds is .00001 but the dealer left that out.
I want to learn from this one so the other quotes I start getting back will be faster and more efficient. I’m sure you all will say the quote is way too and I agree.
The better I get at this the more I can help friends that I suspect have been totally hosed on leases for many years. Thanks!
By researching I believe you are referring to the grand touring trim with the gt premium package.
I’m not too familiar with Mazda but is it typical to get 0 discount off the msrp? Also what is the tax % in your area
That’s a terrible deal. Typically if you want to play hard ball, they can get the car about $1,000 below the invoice price. You can probably get to <$330 before tax with some negotiation.
Getting down to $330 plus tax would be amazing! I tried to do the calculator but the fact that they haven’t replied yet to my question of what MF they used clouds up the math. I used Edmunds rate of .00001 for now. Is there a reliable way to find invoice price? And other than the MF question, does it look like I did the calc correctly?
This is a terrible deal! Were not being hard on you, just the dealer. There is more room, for sure. The Mazda’s aren’t the best leases — but if you research the Marketplace spreadsheets and broker deals, you should have a good idea what percent off MSRP to offer the dealer.
I appreciate the kind words! I figure with a very low MF and decently high residual, this would be a good choice of vehicle but I guess the last part of the equation is to get a sufficiently low agreed-upon price. Lease cash of $360 seems like a joke. Maybe Mazda doesn’t need buyers… I assume getting $330 pre-tax would assume a heavy discount.
I would echo all the other recommendations on this site. The CX5 is very popular, and Mazda’s best selling vehicle. Try and look for one on CarGurus that’s been on the lot for the longest, or has weird color/option combos? Patience and determination will be your best friends.
I’d suggest a broker. IMHO you’ll have to spend less time working the deal, and have better final amount paid. It seems like most brokers are around $400, for that car. (just my guess, based on what I’ve read) Some dealers may have the fee worked into the monthly payment. I think the broker would help you save more than their fee. Some dealers are easier to negotiate than others, though, and perhaps you are in an area with several dealers. As noted, look at cargurus or a similar site, might help. I’d guess a discount of 8-10 percent should be available for that combination. The GTR are sometimes tougher to get a deal, depending on stock. Good luck!
I’ve seen several CX5s in the 8-9% off range here. Mine was in that range and it wasn’t difficult to find a dealer to do that. My payment is ~300/mo including 9.25% tax with drive-offs only on a Touring w/ preferred (29k MSRP).
It is a fun car and there were no other incentives available so we think we did fine. Also the 0.9% APR saved us a bunch in finance cost compared to traditional financing or lease MF.
