Is posted my adjusted deal via calculator below.
I’m not all that familiar with the Miata market, though I can’t imagine dealers discount them a ton. “Propack” is $500 of stuff I can’t imagine anyone actually needs.
I don’t think this is something that is ever going to lease all that well, seems like much more of a “buy”, assuming you can get a decent rate at 60/72 months.
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I truly appreciate your reply! I did get them to remove the propack fee, and worked numbers via the lease calculator in my post. You are absolutely right, Miata has very little discount and the lease is weak. They also offered me a purchase option with same sales price with 0% 48 months or 3% 72 months.
Thanks!
Miatas leased well for a brief period of time in 2018 when inventory of the ND1 was piling up ahead of the ND2 launch. People who leased in 2018 were able to buyout and sell in 2020-21 and ended up getting paid to drive the car for 2-3 years.
Since then it’s been better to buy than lease. Miatas hold their value well.
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I’d recommend removing the top part of the image to avoid sharing personal information, the VIN, or dealer.
Miata doesn’t lease well and is definitely more of a purchase. They tend to hold their value well.
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Oh yeah, I would absolutely finance at either of those options before leasing this. Post pics once you take delivery!
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That is what the dealer told me too lol. I will post a pic of the finance deal tonight. You imagine the Miata would meet all the criteria for an amazing lease, but that seems not to be the case anymore. Miata drivers usually keep miles low and resale is amazing (even on Cars and Bids). Perhaps Mazda does not want to flood the market. Even here in Vegas, I do not see many Miatas.
I hope someone grabs this gem. Not a Miata, but there are zero roadster threads on LH lol.
https://www.cherryautogroup.com/Inventory/Details/9f617c53-9e8b-4cd3-a9b9-c84484e44f8f
@z0lt3c - before franz von holzhausen was doing nasty appliance cybertrucks (like when franz had a soul) he did this Saturn.
Edit: ugh just realized they lied about the mileage on the above VIN. Lames. It’s way more than the shown 5,500 miles.
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Sweet Ride!
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Wow a $40k Miata! I loved my ND1 and it was a 6MT Club softtop that stickered under $30k. Not sure if it is worth buying an expensive Miata since it is just a lightweight roadster and there is no equipment/option that will meaningfully change your experience. Whether a softtop or hardtop or Club or Grand Touring, it will be loud and cramped but as pure of a driving experience as it gets in this day and age…
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I ageee 40K MSRP is steep for the same experince that a much older Miata or lower trim can give. You can definitely go soft top and manual and have the same or better experience than the RF GT, and still stay a touch under 30K. That being said, my wife and 16 year old need to work on their shifting. Once you check auto you "Automatically " have to get the top of line GT trim lol. If I was the only driver it would be the club trim with the Recaro seats, LSD, and Brembo brakes.
Update
Dealer willing to do 8.19% off lease.
MSRP: 40,520
Sale: 37,200
Months: 36
Miles: 10K
RV: 55
MF: .00102
Acq: 650
Doc Fee: 499
Tax: 28.50
Tax Rate: 8.375/Vegas
He gave me everything rolled in minus 1st payment $585? I get $551 on Lease Calculator? Is he hiding something? I’ll try and update my calculator on here as well.
Ryan-Paul Gross
The Miata is one of those cars where there’s almost no reason to lease it. Residuals of most cars can be somewhat risky to the extent having a guaranteed floor (the lease residual) is helpful.
But Miatas are extremely stable and the used market for them is fairly healthy relative to the supply of Miatas entering the secondary market.
Since Mazda’s APR rates are effectively matched to their lease money factor, the only real benefit you have leasing vs buying is the opportunity cost of the principal payments on a loan aren’t made in a lease. But this opportunity cost won’t be enough to override the lease origination fees. So this car is a great candidate to finance instead of lease.
PS, I forget if Mazda leases come with built in GAP insurance, but that’s worth considering if you buy vs lease.
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Looks like a solid discount for a Mazda though admittedly I have not shopped for a Miata in a long time so maybe check the Miata forum for the recent deals posted.
The disconnect in your numbers might be because of dealer marking up the MF. Also I would highly recommend doing a one-pay or the max 9 MSDs on any Mazda lease, pretty good ROI if you have the funds available.
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Do you see a better MF for 36/10 on Miata RF Auto (without MSDs) better than the one posted in my deal?
I have a trade worth about 20K, so I can definitely do max security deposits (if they let me)?
My bad, I did not realize the dealer shared their MF with you and you were plugging that into your calc. I would use your trade as a one-pay lease (effectively getting your MF close to 0) but like others said buying the Miata outright might make more sense since they tend to hold their value so well. Although I am not sure if a $40k one will hold its value as well as a lower trim Miata with the stick shift so leasing and putting the risk of depreciation on Mazda while effectively paying a lower interest than 2.99% makes sense to me…
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I don’t think any amount of discount makes this car more desirable to lease vs. buy. As @holeydonut said, resale on Miatas is generally strong and because they’ve got awesome finance rates available, I still think this is a no-doubter, especially considering the additional discount.
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I will probably purchase, and if I trade in at a local dealer I get a NV tax credit (on purchase option). The other issue with purchase is, I have been finding low mileage used 2024s for about 8 to 9k off MSRP. The interest rates are higher on used like 5 to 6%, but the savings off MSRP are HUGE.
All that being said, I just could not make my lease calculator match the dealer’s lease calculator. We were about $35 dollars apart, and I can not find out why? That being said, much easier to find them hiding fees in a finance deal lol. I appreciate everyone having amazing imput!
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