Helping with numbers - Mazda Miata 2019 Club

Ask the Hackrs
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1

I’m new to leasing and this website but I thought I’d give it a try:

Using some videos and forum posts I emailed a nearby dealer for the numbers on a 2019 Club Miata and this is the Info I got:

Base Model: $30,190
Packages and options: $450
I-activsense club package: $450
Manufacturere destination Charge: $920
MSRP Sticker Price : $31,560
Dealer Discount: -$3,219
Dealer Price : $28,341
Term: $36 months
Annual Mileage 12,000
Residual Value (53%) $16,727

Total Due at signing :$0

First month payment: $602
Cap Cost Increase : $-2,042
Estimated Registration & Fees $1,439

Monthly Payment $602.22

I would like to know based on your experience:

  1. is it possible to bring down a Miata lease to around 250-300 / Month (even if it’s base model)?
  2. in this case, what would you do as far as negotiating that price which to me seems ridiculously high?
2

Not enough info to fully evaluate this deal, but keep this in mind. Your depreciation payments over the 36 months is around 322 a month. The other 280 portion of your payment is your rent charge plus tax and all your drive offs you rolled into the payment.

From the little information we have, that is atrocious. You likely won’t find a Miata lease for cheap now, they had very good deals in 2018s - if you search you will find them. Those likely were incentivized by Mazda due to the engine changes for 2019.

3

Seems like your best bet is to finance a 2017/2018 higher trim model with under 15k miles for around $22-23k

Atleast that’s what I’m seeing in nationwide searches on CarGurus

4

I was able to get the MF just now. It’s .00310 . What other information would I need ? So do you think I should stop looking into the Miata and go for something else? Is there any convertible out there I could get for 250-300 a month?

5

Considering I was able to lease a $60K Genesis sedan for 36/15K for $500/month incl tax with zero drive off and a free iPad thrown in, that’s a pretty terrible lease on that Miata.

6

Thanks for your reply. That is a good suggestion but I want to avoid financing, at least for a couple of years. My goal is to lease a convertible sports car for 250-300 a month. Don’t know if that’s possible though…

7

That’s incredible… and you’re right… it’s horrible

8

And someone was able to lease a 100k Jaguar for 500 a month so your lease is terrible too.

Why do people insist on making ridiculous comparisons? This doesn’t help the OP at all.

1 Like
9

Lol, I understand but atleast it’s cool to hear what others are paying just to know. I don’t mind the extra Info.

10

If you’re hoping for a new convertible in that range, the Miata (or fiat), isn’t in your price range.

Maybe that dying Buick convertible?

11

It does you no good to know what a 60k Hyundai leases for - you’re supposedly in the market for a convertible.

12

I guess i’ll keep researching. Thanks for you suggestions!

13

That’s Venezuela type interest. 7.44%?

14

I’m closing a similar deal but I am financing. 2019 soul red club no options. Sell price 28k, ~31kish OTD. With 0 down and 5% financing my payment is less than that. You might as well finance and sell in same time frame, just be sure to get competitive offers (vroom.com, carvana, carmax, etc) when you sell. I just sold my CT200h to vroom and got a great price and got out of that lease.

15

Look at the convertible mustang ecoboost, you could probably get a good deal on those if you dont mind an automatic.

1 Like
16

So you’re saying finance the car, then sell at the 3 year mark ?

Have you done this before ?

17

I’m saying if you’re hell bent this car, you’re better off financing it for sure UNLESS you negotiate MF down to around .002 (5% APR). Also, if you’re the type of person like me that takes very good care of your car, and shops around for best buy out offers, I think you can get close to the estimated residual without getting raped on that lease interest. If you get offers from vroom.com, carvana, carmax you can negotiate with dealers when you want to change the car. With vroom/carvana/carmax, basically they function as a dealer and they give you a value for the car, and then the difference (either positive or negative) between this number and the payoff amount is paid by you or they pay you.

If not, look at the convertible mustang ecoboost. I test drove the non-convertible. It is heavier but is pretty quick and for sure you can probably get a better lease deal around 3-4 hundred a month. I saw a fastback version listed for 5k off MSRP.

18

Have you considered the Miata’s sibling at the Fiat dealer? Stronger discounts there, and you can get the Recaros and Brembos and everything else, but the residual values aren’t as strong.