Good lease deal on 2017 CX-5 Touring with Preferred Package?

Trying to work my first lease deal in more than 20 years. This is what I have so far, is this a solid deal or do I need to do more negotiating? Any tips?

MSRP: $29,715.00
Sales negotiated discount -1000
Rebate: -1620
Final Sales Price: $27,095.00
Money Factor: 0.000001
Residual Value 58%: $17,234.70
DMV Fees: 349.5
Acquisition Fee: 595
Cash Down: 2000
Term: 33
Miles: 15k/year

Sales Price to Value Difference $9,860.30

Monthly Payment: $306.72
Total Payments: $12,121.76 (Including down payment
Cost per mile: $0.29

Is the $2000 down total due at signing?

Salt Lake City, Utah. The $2k would be just my down payment, not including any drive-off payment.

Looks like a bad deal. Only 1K as a discount before rebates is laughable.
Not to mention your putting down 2K not including fees.
Negotiate further or look elsewhere

Roger that, I’ll work on negotiating the sales price.

As for the down payment, that won’t effect anything other than my monthly payment, right?

The down payment will simply make the capitalized cost of the car lower, only you would be doing it with your own money rather than a discount from the dealer or incentives/rebates.
Also keep in mind in most cases if a car is stolen you lose your down payment.

So in essence, I can reduce the CAP cost by adding more down payment (Unwise and risky if accident/stolen scenario) or by negotiating a lower sales price and more rebates, is this correct?


Yes, but try to do ZERO using your own money, paying only inception fees (Tax, License, etc.), or even roll the fees into the lease and just pay first months payment. You should be able to get that same price or close to it without putting 2K down. It looks like part of that $2k is covering those fees in a way, but it should be more like $800 to $1200 to cover those fees upfront.

That is a horrid deal. Just got a Grand Select for $280 with only first month on the drive off and that was including 9.25% tax.

Great feedback, thanks. Just got off the phone and am now at a 5% discount off of MSRP + the additional $1950 rebate. How much further should/can I push?

MSRP $29,135.00
Sales negotiated discount -1465
Rebate -1950
Final Sales Price $25,720.00
Money Factor 0.000001
Residual Value 55% $16,024.25
DMV Fees 398
Acquisition Fee 595
Cash Down 0
Term 33
Miles 15k

Price to Value Difference / CAP COST? $9,695.75

Monthly Payment $353.90
Total Payments $11,678.70
Cost per mile $0.28

I would try asking for better offers from different dealers

Still way off. See Ed’s post above $285 with just first month due. You should negotiate atleast another 2K discount.

Ed - that’s LA tax rate. I’m in the same market, looking for the same model. How did you score this deal? I’m getting these terms on a Touring and had to haggle for it. Mind sharing the dealership? I can pm you. TIA.

Ed, Can you provide more details on your deal? What was your final sales price and we’re you doing 10k miles a year?

10% is possible, 6%-7% should be very easy though. That is all before rebate. There are many posts about this car and I have posted up my deal in other threads.

9.5 tax, im pretty sure, they all went up

Yes, you are right! 9.5%