2024 CX-90 PHEV Lease Ending – Return vs Buyout vs Pull-Ahead/New Lease?

Ask the Hackrs Used Cars
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1

Hi everyone — looking for some advice on my upcoming lease end and what you’d recommend as the best next move.

Current lease:

  • 2024 Mazda CX-90 PHEV Preferred
  • NJ
  • Maturity: 11/27/26
  • 33 months / 33k miles
  • Current mileage: ~30k
  • Payment: $530/month
  • 2 payments remaining
  • Current contract balance shown: ~$37,729
  • Excess mileage: $0.15/mile

From what I’m seeing, comparable used CX-90 PHEV Preferreds with ~25–35k miles seem to be worth materially less than my current balance, so I assume I have significant negative equity and buying it out probably doesn’t make sense.

Would appreciate recommendations on:

  1. Return vs buyout: Any reason I should consider buying this one instead of simply returning it?
  2. Pull-ahead: Has anyone recently used Mazda/MFS pull-ahead with 2–3 payments remaining? What were they willing to cover?
  3. New lease: What are the best current deals in NJ/NY/PA for another CX-90 PHEV or comparable SUV or if I want to switch to any luxury car? Ideally 10k–12k miles/year, minimal DAS, ~$500/month effective or better.
  4. Any particularly strong alternatives right now ?
  5. Is there any way to extract value from the current CX-90 before returning it, or is the market value too far below the MFS payoff?

Open to Mazda or another brand. Mainly looking for the best overall economics rather than just the lowest advertised monthly payment

nj mazda suv luxury nj usa-nationwide

2

You can get a “real” quote for your car from Carvana, etc., to get a better sense of what your car is worth. I don’t think PHEVs generally have high real-world resale value, so I assume that it is not a good idea to buyout yourlease.

Does Mazda currently have a pull-ahead program? I don’t recall seeing one discussed here.

You can check the Marketplace and Signed Deals & Tips to see what might be leasing well. I don’t think you’re going to find a comparable SUV for ≤ $500/mo effective (the Infiniti QX60 might be the closest, if you’re okay w/ a non-PHEV).

3

Thanks, that’s what I felt like…i dont see any other option to pull up. I might have to just give up my lease..

Any suggestions on how I should show up to Mazda to let them waive off any deposit fee and how do I negotiate if there is any option to do other lease

4

There isn’t any need to discuss or negotiate disposition fee at lease-end:

If you lease a new Mazda within 30 days of grounding the current one, MFS waive disposition on the old lease. If you applied security deposits those will be returned after your lease grounding is processed.

What doesn’t make sense from your question (if I understood right) is rolling up to the dealer to lease a new Mazda without the new Mazda lease already negotiated and agreed-upon. The last thing I might do in that shopping process is informing the new lease dealer I’m also grounding an upside-down CX90 lease would they prefer I ground it with them or take my trash to a different dealer?

5

Yeas..the new math for CX-90 premium (almost same as PHEV) am getting is really around with ~ 5k rebate on lease comes to net $670 per month with zero down..which I feel is pretty high to PHEV preferred which I was paying $530.. and same features.

The dealer said, they didn’t want to assess as they would send this to Mazda directly..

Question -

  1. When should I get new lease ?
  2. What similar options do I consider with similar monthly payout?
6

You’re comparing payments on a three-year-old lease to a current one, different market. Based on current discounts and programs, what should it cost? What are CX90s going for here in the Marketplace? What else can you lease that meets your needs in the range of old-to-new CX90 lease payment?