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I have two questions. (1) Is this is a good deal?
Year/Make/Model: 2024 Mazda CX-90 PHEV
Trim: Preferred, AWD
Term: 24/12K
DAS: $3,443
Monthly Payment: $409
Zip Code: CT
Rebates: $7,500 Lease Support
Service Fee: $399
(2) The calculations link says that the “effective monthly payment” is $566. What does that mean exactly? Why is the monthly payment given as $409, but the effective monthly payment is given as $566? I just need to know what I am actually going to pay before I sign off on this deal. Is it $409 or $566?
Thank you so much!
I received this deal from a broker on this site. It seems like a remarkably good deal for a Mazda CX-90 PHEV, but I just wanted to check with you more experienced guys. Thank you for your reply.
Well, the price is lower because of the $7500 lease support incentive Mazda is offering in March. Of course, I would prefer doing better if at all possible. Can you recommend a broker that might offer a better deal?
Thank you again!
Then I will have to forget aboutt this deal. I do not want to spend $566/month on a lease, and I will need to look elsewhere, and at a different model and trim. Thank you for the clarification.
Your total cost will be the same as if you paid $566/mo with only first month due at signing.
By putting a large amount down, you’re lowering your monthly payment. Your effective monthly payment is what you would pay if you amortized out your upfront payment.
Now that is a relief. While I was mulling this deal over, I checked with the Mazda website. They quote $417/month with $3917 due at signing for a CX-90 but this is for a 36-month lease w/10,000 miles/year. Which do you think is the better deal in the long term, the CX-90 PHEV for 24 months’12,000 miles/year for $409/month with $3443 due at signing or the one on the Mazda website for the CX-90 turbo?
To be honest if you don’t put the time in and learn how to lease and use the LH calc (look in Wiki) just hire a broker who will save you thousands…look on Marketplace.
The experts here can’t answer this question for you because this is largely a question on your driving needs. How many miles do You Currently drive per year? How many miles do you anticipate needing to drive in the next two or three years? Pick the lease deal that best fits your specific needs.
A vast majority of leases are structured at 10, 12, or 15,000 miles per year. The more miles you sign up for the higher your cost will be due to the residual value (rv) being lower. If you need more miles, that’s fine, you just pay a higher payment. Most times a 36 month lease is more cost effective than a 24 month lease.
I don’t really need 12,000 miles/year; it is what the broker offered and she said that a 10,000 miles/year would not reduce the cost of this deal on the 24-month lease. Her quote for the 36-month lease at 10,000 miles was actually higher, i.e., $469/month with $3953 DAS.
