Looking to turn in my 2021 Mazda CX-9 Touring Premium Package in. Residual value on original lease states $25,342.50 but recently called Mazda Financial and they provided vehicle purchase price of $27,849.64. Does this mean we have equity on the car? The car only has 20,514 miles and no significant damage, minor scuffs n scratches, according to pre-inspection nothing will be owed for excessive wear and tear.
RV and Purchase price are from the bank.
Equity comes from shopping your car around to Carvana / Carmax and dealers to see if they will buy it out for more than $25342. (Assuming $27849 includes taxes and fees)
Also really depends who is your bank.
Ignore the residual value. If you want to know if you currently have equity, you need to compare what your current buyout is and what you can currently sell it for.
So would that current buyout be the $27,849.64 provided be Mazda Financial? I appreciate the help!
Youll need to find out if that is your personal buyout or the dealer buyout amount. Often they will provide you your personal buyout, which may be higher due to taxes that don’t apply on a dealer buyout.
Based on their language, it looks like they dont include taxes in their personal buyout numbers, so it should be the same price for a dealer buyout. So yes, compare any buyout quotes to that number to see where youre at equity wise.
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How many months do you have left on the lease?
Due in next week
You should see why there is a $2000 delta if it is due next week.
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Thank you! Looks like no equity a few coming in a few hundred-thousand short of the $27,849. 
Not sure what the delta means?
Delta= Difference. But if you just want to return it, then all you owe is your Disposition Fee ($500?)
That’s what I was wondering. This close to the lease termination date, the RV and buyout (minus taxes and fees) should be identical, right?
That’s why you need a detail payoff. I can see $500 and maybe $1500 for Tax? Dunno.
Yea that’s what I thought the original residual that’s on the lease agreement would be what everything was based off of at the end Disposition fee is $350, but if I lease another Mazda they’ll wave it, currently trying to work out a deal on the CX-90 phev preferrred
Except the screenshot says it doesn’t include tax.
OP, make sure to speak to someone at Mazda Financial to determine why there’s such a big difference btw RV and buyout. That might not affect whether you have equity or not, but it’s good info to know.
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