I honestly don’t even feel good about sharing this, because it doesn’t feel like a great deal. But I talked to a bunch of dealers all over the state (perhaps not all of them), and they were all in the mid-high $700s (or higher!) with $0 down. Which is weird, because there’s inventory all over the state, and it ain’t moving.
So, this one was about as low as they went, and it’s the equivalent of about $703 with $0 down.
I’ll include a calculator link, but the numbers in the actual deal may end up being different; I didn’t know exactly where they were putting dealer discounts vs. tax credits to get to where we were trying to be. I was hoping for one more round of negotiations among 2 dealers I was working with, but then I had to abandon my search when my intended trade-in vehicle was damaged in a hit-and-run (as you may have read).
So, for now, all I can say is there’s a car available at this price. If you’re in Texas and looking for this car, then it might be the right deal for you.
2024 Mazda CX-90 PHEV Premium
33 months, 15k per year
MSRP $54,870 (plus $399 “tint”)
Rebates $8000 (EV + Loyalty)
$3000 down (what was to be the equity in my lease trade-in)
$603/mo, Texas 6.25% sales tax & fees included
Let me know if you’re interested, and I’ll share the contact at the Houston-area dealer I was working with. There are probably a couple of Premium models with a slightly lower MSRP that would save a couple of bucks, and then of course the Preferred trim is a bit better deal if you’re into that.
And if you live in the NE or somewhere with better discounts and incentives on these things, well…
That’s tough. Did you check the 24 month term? It should work out better FYI (even with our crap taxes/no tax credits on this car this month). Here’s what I was able to work out after some extensive dealings in DFW. Not my best hack, but given the market, not bad. I chose to look at it with MSD’s (and my dealer had to actually check with his MFS rep b/c he had never used the program before ) Probably going to lock it in tomorrow. CALCULATOR | LEASEHACKR
Yeah, the 24 month term didn’t really help me at my 15k mileage (70% MF vs 62% at 33 months).
I hadn’t gotten to the point of introducing the MSDS, but that should get me a little lower; will just have to compare what it gets me to the interest I can get on the same amount elsewhere over that time.
It looks like we’re getting close to the same deals in the end, though. I was figuring on having them take off the $399 tint, at which point it’s around a 4.5% dealer discount. 33 vs 24 months doesn’t make much of a difference. Add the MSDs and I get to an effectively monthly of about $653.
Then I just need to do some math around the mileage. Mazda only charges $0.15 per mile, so if my wife drives 14,000 per year (which is a pretty accurate average), it’ll cost me an extra $25 per month at the 12k rate. But it’s paid at the end, so no interest.
That’s compared to the $31 per month it’ll cost me to bake in a full 15,000 miles per year. So we’re definitely getting down to the pedantic details at that point. We’ll, here’s hoping the rebates hold and the discounts increase by the time I’m able to sort out this trade in and get back to a deal here.
Yeah you’re not wrong. It’s a perfectly reasonable deal, especially considering it’s a brand new model that one would think would be in fairly high demand (once people realize it exists).
It’s the newness of it and the fact that my last car deals were done in the rose-colored days of 2020 that are making it more difficult for me to accept only 4-4.5% discount from the dealer.
Not to mention the interest. My Mazda lease that’s ending next month was only about 5% discount, but the MF for 36/15 was 0.00001 with no MSDs, and I still got $2000 equity on my previous CX-5 turn-in. But those days are gone now, of course.
Yeah, sales tax can get pretty obnoxious, and Mazda is only offering tax credits to the dealer on CX-90 gas models, not the PHEV. Nothing I can do about it, though. I don’t really want to own the thing long-term, and it wouldn’t make sense without the $7500 EV credit, which is only available through a lease. I would just get the gas turbo if the price worked out better, but it really doesn’t because of the incentives. Dealer would have to be at 6% discount themselves to get me to the same lease payment as they’ve offered on the PHEV. Factor in an extra couple of tanks of gas a month, more oil changes, etc., and it’s not worth it.
Despite what feels like a high price, I invite you to point me to another 6-passenger PHEV (or anything delivering 28+ MPG city driving) that offers a more affordable lease in Texas. I can’t afford the Volvo, they don’t make a 3-row GC 4XE, Kia isn’t offering the passthrough EV rebate, Tesla MY costs more, and everything else is likewise too expensive or not available.
) Probably going to lock it in tomorrow.