How is this deal for a 2024 Mazda CX-5?

Ask the Hackrs
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1

My lease is over on our current CX-5 so have been going month-to-month for awhile looking for better deals. After checking all the places to sell there’s really no equity. I also looked at Marketplace and this deal seems comparable.

I’m not sure how much longer I can go month-to-month and obviously who knows what the future will be so if it seems like a good deal, then I’d rather be done looking.

2024 Maza CX-5 Preferred
Msrp: $32,100
Discount: 11.5%
Selling Price: $28,409
Due at signing: $1,231
Loyalty: $500
36/10K
Bank Fee: 650
Doc Fee: 699
DMV Fee: 525
Residual: 64%
Residual Value: 20,544
Money Factor: .00193
Monthly Payment $359

2

How are you benefiting from this cycle of repetitive leases?

Over just two leases you’ll make ~$27k in payments for a car selling for 28 plus TTL— and have no equity at the end.

How much equity would have you over the same time span if you’d financed the 2021 instead?

3

I’m benefiting in that I have a predictable budget monthly payment and a reliable vehicle as this is the primary vehicle that my wife drives and have done so for the past 30 years. Oil changes and tires are the only things I’ve had to pay for. I have 3 other vehicles that I own outright so having one that I have to lease works for us and our budget.

Appreciate the comments but that aside, is the deal a good one.

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4

If the deal is comparable to what you’re seeing in the Marketplace, it’s probably at least solid.

5

Looks like a great deal. 11.5% off MSRP at buy rate (i.e., no money factor markup) is solid! You might want to consider Multiple Security Deposits, which is pretty good with Mazda Financial Services:

https://www.instagram.com/p/C38dJHYyW4A/

As for lease vs. buy, the Leasehackr Calculator has a feature for that. In your scenario, the total cost of a two 3-year leases isn’t that much more than financing one and keeping it for 6 years, especially if you factor in opportunity cost of capital, wear and tear items, etc.

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