Hi all, am new to these forums and I hope this is not an inappropriate question. I live in central NJ and am considering leasing a 2018 Mazda3 hatchback, Touring model, automatic. I’d appreciate any expert feedback regarding this quote:
This is for a 36mo/15k lease
MSRP $23,085.
Offer price $21,088
Manufacturer lease incentives: $670
Loyalty incentive: $750
Net cost $19,668
plus $595 acquisition fee = $20,263 capitalized cost
Zero down payment
Residual 50%
Monthly payment $243
Doc fee $499 (seems excessive?)
Thanks in advance I am trying to educate myself and I appreciate your expertise!
This actually isn’t that bad for a Mazda3. $499 doc fee is about $100 higher than normal in NJ, but not a complete rip off.
If you are happy with it, I’d say go for it. The 3 doesn’t lease well at all, but this is one of the best deals I’ve ever seen on one especially considering its 15k miles
Will do. Currently trying to decide if purchase is better. They are offering $2k cash back here in NJ for purchase, vs. the $670 lease incentive. I had not intended to purchase but 21 percent below MSRP seems like a very attractive purchase option.
The redesigned Mazda 3 comes out in a few months so I think they are very eager to unload the remaining 2018s. The 2019 will offer AWD, but strictly based on appearance I prefer the 2018.
What did you decide? I’m in the process of negotiating the same and wondered if your monthly payment included taxes? The first quote I’ve gotten so far for a touring hatchbck with 12K miles is $285 with tax. I also got one for a sport for $291 for 36m/12K miles which seems high.
That seems very high. Have you looked up what the money factor and residual is in your area code? Also rebate incentives will help alot as well as negotiating the sale price.
He said the MF was .0001 and the invoice was around 20,300 plus over 3k in incentives bringing the cap cost to around 17500. The residual was 12k or 46%. Acquisition was 595 and fees are about 400. So isn’t it 17,000-12000= $5k divided by 36= $140 plus interest and tax?
You didn’t add in the acq and other fees, which would bring your adjusted cap cost closer to $18500. But are you sure the incentives are $3k? That sounds too high.
Money factor is excellent, RV sucks basically evening out the MF. $3000 isn’t unheard of if they really want these models gone, my local Hyundai dealer has the same incentives going on but they have a very high MF and a RV of 52% on the Sonatas.
You need to input all this info in the lease calculator. The $3000 in incentives are going towards the adjusted cap cost so you can leave the incentives fields blank. That low RV is really hurting this deal but that can’t be changed as well as the MF. Those figures change monthly and are set by the car manufacturer’s finincial institutions in your state.
Here are the actual #s :
Msrp 21290
Invoice 20403
End of year incentive 1703
Lease rebate 1560
MF: .00001
Res: 12k
Fees: 400 not including acquisition of 595
Hyundai has the same offers in Florida for the 2018 elantra’s and sonata’s. But they both have MFs of .002xx and RVs of 52%. OPs Mazda rv is even worst.
I got it for 231/month. Did not have to pay anything to drive off. Not even first payment. Mine was for 36/12k. I think is a good deal what you were getting.
