Mazda 2021 CX-5 lease NM

Is this a good deal? Totally new to this and my numbers just aren’t matching up on the calculator. The dealer has been helpful in answering questions but I’m still not sure how the numbers add up. I’d like to figure out a lease that ideally is under $500/mo

I have a trade-in that’s way underwater. The loan on that is $11k and is valued at $6k by the Mazda dealership. Caravana had a higher trade value but they don’t do leases and I’m pretty sold on leasing so I don’t get myself underwater on a car again.

Any help/comments greatly appreciated!

2021 CX-5 Touring
3 year 12,000 miles $0 down

MSRP $29,845
Selling Price $28,992
Down Payment $0
Taxed Incentives N/A
Untaxed Incentives N/A
Acquisition Fee $650
Dealer FEs $388.16
Government FEes $65
Tax Rate N/A
Post-Sales Rebates $0
Disposition Fee $350

Taxes on a lease here in New Mexico are applied to the payment, so the incentives are not associated with the taxes. For this lease structure the taxes are $53 per payment, included in the payment amount listed below. The Dealer Fee listed above is our Dealer Transfer Service Charge. This is what we charge on a finance or lease deal to process the registration and title work through our MVD services. The Government Fee listed above is what the MVD charges for registration.

Some other important figures:

Monthly Payment: $731.77 ($0 down and 35 payments of $731.77)
Residual Value: 58% $17,310
Trade Value w/o inspection: $6,000

This lease cost is $25k+ Over 36 months on a sub $30k vehicle.

You could finance with a competitive APR for 72 months and be <=$500/month.

You can do way better than this.


If you post a link to your calculator, we can help identify any issues.


You list trade in value of $6000. Is this trade in way under water? The only way I can see you getting above $700 monthly is if you’re rolling in $1000s of negative equity.

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[Calculator link ] unsure about tax rate and MSD

Great point!! I should’ve mentioned that. Unfortunately, Yes. I owe $11k on a car that’s probably worth $6k. Totally know I have to bite the bullet on that mistake and have the $5k I’ll throw at that. Since that purchase was a HUGE mistake I’m really sold on how a lease is a much better option for me.

How much did carvana, carmax, and vroom offer for it?

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I got diff quotes from caravana over the pst 2months. First quote was $11k and quote a week ago was around $9.5k I’m assuming the change was the different timing since no other changes have occurred with the car.
Vroom was lowww $5k
I’ll check Carmax! Thank you!!

What is the trade?

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So you owe $11k on it and carvana offered $11k for it… why are you rolling $5000 in negative equity into this new lease?


2017 Mitsubishi Mirage w/27k miles
I’m embarrassed to say I got wrangled into this car while I was in a really tight spot of needing a car ASAP and being stranded at a car dealership with zero experience in car buying. The car has actually been really great- just tired of paying $350 a month on a rollerskate that most cars on the road don’t see. Lol! Went in there thinking I could pick a car with the worst credit. My credit has since improved drastically.

I think I missed my window with caravana but I will definitely re-explore that option. I think I was under the impression they wouldn’t buy it from me if I wasn’t buying a car from them.

You don’t have to buy from carvana to sell to them

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I’m going to look into selling to them rn! Before I assume… if I don’t roll that loan into a new lease the numbers will be better? Do you by chance know if there’s anything I should beware of for my credit when selling to caravana and paying off that loan immediately? I finally got my credit score to 750 but that’s a whole other thing I’m new to being aware of and on top of.

Well you’re not going to light $5000 on fire, so there’s that.

There are no credit issues with selling to carvana


I’d be much more embarrassed to be paying $731/mo for a CX-5 lease than paying the $350/mo for the financed Mirage which would be paid off in less than 32 months.

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Bwahhaha thanks! Solid point!

Bwahahha! Excellent point! Thank you!

Even backing the $5,000 negative equity out of this you’re still at ~$580/month for a $30k vehicle.

Something still isn’t adding up.

It might be how I’m putting in the numbers?… I don’t have the msd. I’m still trying to figure out exactly what msd actually is; so for the calculator I left that alone. I also didn’t touch the tax section bc again a little confused there too.
Sorry! I really appreciate all of the comments! I swear if I spend enough time reading all the posts I’ll get there. It’s all so new and there’s tons of info! Lol! I was barely trying to explain to a friend the little bit I’ve learned so far and their eyes instantly glossed over :rofl: