I’m leasing a car for the first time, and I got this deal for a 2020 Mazda 3 select sedan, do you guys think it’s good or could I do better? And of course I still haven’t signed yet. Also this is in Texas, since I know they do car lease taxes differently here.
MSRP: $23,620
Sale Price: I don’t remember the exact price but I think it was around $22,420 or so.
Residual: 54%
MF: 0.00006
Yearly Miles: 10,000
DAS (out the door): $2,000
Monthly Payment (including taxes and fees): $245/mo
They were originally asking for $275/mo, but the leasehackr calculator was showing $215/mo (though I’m not sure I was using it correctly). I’m also going to be having a co-signer with an excellent credit score so I’m hoping to bring the monthly down even more. Assuming this deal is worth pursuing, of course.
Thanks in advance!
That looks like a pretty solid deal, but I think you can do slightly better. I was quoted $306/mo including taxes with 0 DAS and 12k a year, for an AWD Select with $25k MSRP. If you change your lease to 0 down, and add 12k miles per year for reference, your at about $310/mo for a car that is $2k+ less than the one I was quoted on… Again tax differences and incentives could affect this but I think it could still be lower.
Make sure you need a co-signer. A lot of F&I managers can bump you to tier 1. Credit Karma is a great app to have, and it’s free. Let them know your score and see what they think?
I’m fairly certain I do need a co-signer, assuming there aren’t any new grad/college student incentives or anything like that, since I don’t actually have a credit score yet. I’m going to have my parents co-sign since they have credit scores of 800+
