Hi! I am planning to lease a Mazda Cx 30 carbon edition for my first car. Up until this last week, I did not know anything about cars. But after heading into 2 dealerships, I realize I have to familiarize myself with this before trying to negotiate. I have read so many articles and watched youtube videos, however I am still confused about some things and am reaching out to see if anyone can help.
I was told to use the lease calculator on this website, print it, and show it to the dealership to ensure the best deal however I am stuck. The MSRP for this car where I live (north jersey, bergen county) is $29815 according to edmunds. The sales tax here is 6.625%. However, I am unsure of where to find the selling price to finish the calculation? Is this something a dealer would know? If anyone has any information on this and can help me out, I would appreciate it a lot. I want to get the best lease deal possible considering the market right now. Thank you
You won’t know the ‘selling price’ until the dealer gives you numbers.
Then you know if you are getting ADM, or Crap Addons.
The calculator’s job is to tell you the price you would pay if you bought it at MSRP(or MSRP - Incentives if any) with the proper RV and Money Factor. You put $0 down (or 2k or 3k) to get a monthly total.
Then you go to the dealer and have him give you his monthly / down requirements and you see just how bad it is.
OR
You find a broker in the marketplace and they give you all that numbers without going into a dealer.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video to brush up on how to most efficiently use the resources here.
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from the LH Calculator - Lease Program Lookup or Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator, and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
