I am nearing the end of my lease (expires 5/30) on a 2020 Mazda CX-5 Touring (Preferred Package). The dealer has provided a lease option on a 2023 CX-5 Carbon Edition with the specs below (the dealer in in CT but I’m in NY).
36 months/12k
MSRP: $33,190
Sale Price: $32,129
MF: .00245
Res %: 62%
Rebate: $1,500
Net trade: $4,286 ($22k trade allowance less trade payoff of $17,715)
I’ve tried negotiating a bit on the net trade given the market value of my car is around $25k while the residual value is at $17,108.
They are quoting me a monthly fee of $316 and a upfront payment of $1,889. I’m having some trouble getting the calculator to those exact numbers, but here’s my best shot:
Any help on whether this is a “good deal” based on the market for CX-5’s or further negotiating tactics I can use to lower the payment would be appreciated!
The dealer is providing some good lease incentives to renew and I like the car. Any tips on ways to make the deal better or any comparable brands/models that would offer more favorable terms?
Thanks - still new to this whole thing and thought part of the $1,500 in incentives the dealer was offering was due to loyalty. Also thought that staying within the Mazda brand due to those incentives would give me the best deal among similar compact SUVs.
Mazda may be offering loyalty, but the dealer has nothing to do with it. Youd get that from any Mazda dealer.
Keep in mind here that the lease cost of this new cx5 over 3 years is almost the same as the buy out price on your current cx5. For not much more money, after 3 years you can own your cx5 currently and reap whatever value a 6 year old cx5 has or have nothing.
Then keep your current car. The dealer (and Mazda) are not doing you a favor. They are trying to keep you paying them $ indefinitely.
This * 1000. The 2023 model is not even that diff from the 2020 (and, if you read other forums, some owners of older models do not like the new front seats of the 2022+ models).
