Lease check on 2021 Mazda CX-30 Premium/Sticker $31275/$2000 down/36 mo/$448

Hi all,

I am a resident of Louisiana and got a quote for a 2021 Mazda CX-30 Premium. I have recently moved to the US and do not have sufficient credit history (low 600s) to get the lease approved by myself. I will be using a co-signer. Here is the information I received from a local dealer. Please check this. What items from the quote do you think are negotiable? How bad/good a deal is this under current market conditions?

36 months/ 30,000 miles
MSRP - 31,275
Sale Price - 31,275
RV - 61%
MF - 0.00088
Acquisition - 650
Total taxes - 1572 (don’t know how these are calculated)
Down payment - 2,000
Cap cost reduction - 1120
Capitalized costs - 32,130
Disposition - 350
Gap insurance - 680

Total capped costs - 1,295 (don’t know what this means)
Total initial fees - 313 (don’t know what this means)
Tax rate - 9.95%
No rebates or incentives.
Base monthly rental - 408
Monthly payment - 448

Thank you!

You can almost get a cx5 gt reserve for that money so no definitely not good value

Assuming your quote is based on tier one credit and so is your co-signer

Thanks for your reply. My credit history is short and the score is in low 600s. So, I am not sure if I fall under tier 1.

The dealer said that having a co-signer will only help with securing a lease, but doesn’t significantly reduce the rate.

Considering that the MF is 0.00088, what do you think about the other numbers?

As someone who just moved into US, you probably are super unfamiliar with US process. And now being far from normal times is even more confusing.

Unfortunately, I can’t really make sense of the math on your deal. Your sell is at MSRP, and you have a downpayment of 2000, it says you have a cap cost reduction, yet cap cost is higher than msrp. Perhaps you rolled taxes and fees into cap cost? If so, it just makes things super murky.

I recommend trying to get as clean lease math as possible for the deal evaluation - once you decide this is the best deal you can get, you can roll the taxes in, if it makes sense financially.

As for rv and mf, according to Edmunds, current values for best credit are .00046 and 61%. RV checks out (as it should, it is a universal value), and your mf rate seems to be almost double (which is credit in low 600 is somewhat expected)


Thank you for your post. The numbers do look murky to me as well. I did not ask them to roll taxes and fees into cap cost. They put 1,572 under taxes and they also have 313 in “initial fees”, 1,295 in “capped fees” and $40/month in taxes at 9.95%. Please see attached for a detailed quote. I will be meeting them again this afternoon and just wanted to see that these numbers make sense to the more experienced folks in the forum.

I am planning on leasing a 2021 Mazda and the dealer is adding an extra $680 for gap insurance. Can you please share your thoughts on this and should I ask the dealer to take it off. Thanks.

A year or two back, Mazda stopped using Chase as their leasing bank and switched to Toyota financial. Toyota financial does not include gap coverage in their leases. With that said, it’s often much cheaper to get gap coverage through your auto insurance, so be sure to check that first.


Thank you for your reply. Will check with my insurance company.

Not all insurance companies will offer it, but generally when they do, it’s much cheaper.

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May be new way for a dealer to make money.
I am leasing cars for last 20 yrs never seen that item on my lease Contract.
Recently I financed a leased car after the lease was over my CU offer me Gap insurance which I took it since it’s only adding $4 per month but was told it will cover my deductible if I got involved in small accident and my original insurance will pay for repair minus deductible.
I think it also covers if car is totaled and car value is less then the loan amount so gap insurance covers that.
OP should reject that and look outside if needed to sign the contract.

Nearly every brand includes gap coverage (well, technically a gap waiver, but same idea) in the lease, except for Toyota and a few non-captive banks.


Below is the original quote from the dealership with $680 included as gap insurance.

Can someone explain Item# 14, 25 and 26.
I never understand what Cap Cost Reduction do, higher the number is good or bad and how they come up with that #.

Hope they not adding Disposition fee now its actually due at time of return.

Cap cost reduction is a down payment. You’re paying off some of the lease amount up front.

Disposition fee is listed because it gets itemized in the contract.

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Formally, it’s a combination of ypur down AND any fees / taxes you roll into the lease. Can be below 0, which makes it a cap cost increase.

Well, if we’re going to be formal, let’s be correct.

A cap cost reduction is an amount that is being applied, either directly in the form of a cash payment from the lessee or an applied incentive, to reduce the gross capitalized cost and establish the adjusted capitalized cost. The gross capitalized cost is the sum of the agreed upon value (selling price) of the vehicle and any capitalized fees/taxes.

The cap cost reduction, when made up of cash due by the lessee, is often referred to as a down payment, with non-capitalized fees/taxes being referred to as drive offs. The sum of the drive offs and the down payment would establish the amount due at sale. Sometimes “down payment” is used instead to describe the amount due at sale, conflating these terms. It’s not unusual for the dealer or lessee to establish a specific due at sale amount and the cap cost reduction to be back calculated from that value by subtracting out all of the drive offs.

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When I plug in the quoted numbers into the lease calculator, the monthly payments are off by $70. It shows only 379 (post-tax amount) as opposed to 448 in the quote. Am I missing something?

Post your filled out calculator and we can help diagnose.

Please see the calculated numbers - I didn’t find comparable fields for total capped fees and total initial fees in the calculator. So, I put them under dealer and government fees, respectively.

Your calculator shows a due at sale amount of $4315. The dealer offer shows a due at sale amount of $2000. You always need to make sure you’re matching due at sale amounts when trying to match monthly payments. You can’t have one without the other.

This goes back to the discussion a minute ago regarding “down payment” vs “due at sale”. You entered $2000 in as the “down payment”, which the calculator treats as a cap cost reduction. The dealer sheet has $2000 listed as the “due at sale”, which is the sum of any cap cost reduction and drive offs.

If we take your calculator and make the due at sale amount math, the monthly comes out to $448.

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