Hi folks, I’ve been trying to work a deal from Oregon and messaged around 20-25 dealers in OR and WA. The best offer I got was 3 hours away, which I’m ok with if it’s a good deal. The biggest issue I see is that the first offer I got had one MF rate (4.5 percent) and the second offer on a different car had a much better MF (1.39) as the financing company changed the rate in January, but the monthly sign and drive is almost the same (426 from 430). Here are the numbers on the second deal:
$426.08 monthly, first month free, 35 payments, zero down.
Including disposition fee, total payments = $15,762
Cap cost reduction: $73
Gross cap cost: $35,350
Residual: $21,114
Rent charge: $1177
The other shenanigan was that the first offer was for 12k miles, the second they changed it to 10k. I countered with saying since the money factor went from 4.5 percent to 1.58 percent, they should have taken more off the MSRP, as well as putting the miles back to 12k. She pretty much said take it or leave it.
I would really appreciate help on this, thank you!
Post your best attempt to replicate the deal in the LH Calculator, separating out dealer discount from any incentives/rebates from the manufacturer. It will be much easier for folks to evaluate the deal.
just confirming: Have you already signed this or otherwise came to an agreement?
Edit: Based on your story thus far, I am guessing you had an agreement for last months incentives, incentives improved (MF), but the dealer adjusted the discount down more or less keeping the payment the same as last month (with worse incentives). Does that sound right?
That’s right. I have not signed anything. The other offers I got were about $100 month more, but that was a few weeks ago with the worse MF.
$426 still seems a bit high but maybe it’s because the hybrid is brand new?
I based it off what the salesperson told me as it just changed.
" 2- Great news is the money factor has been reduced by Mazda in Jan 2025 to .0005800, around 1.39%, vs the .00188, 4.5% in December 2024!!!
3- The residual set by Toyota Lease Trust (the lender) in Jan 2025 has changed to 58%, vs the 61% in December 2024."
Based on the contract’s stated residual value, I think the MSRP used in your calc must be wrong. Is MSRP 36,405? I’m not sure which zip you’re/the dealer in, but based on Ratefindr, i’m seeing .00137 MF and 59% RV (for 10k miles) or 58% RV (12k).
In any case, I’m not familiar with the market for this vehicle to know what to expect, so you’d have to compare to signed / broker section to compare. My guess is (and reinforced by what the market is telling you if you’ve talked to over 20 dealers) that this simply doesn’t lease great right now, which wouldn’t be a total surprise given how new it is and (presumably) decent demand.
You may not need/want the size, but IIRC, the CX70/90s were leasing for better than this in recent months, so may want to check out Jan programs.
