Hi - I received the following quote in Maryland on a Mazda CX-5 GT AWD w/ Premium Package for a 36/15 lease. Can anyone confirm whether this looks like a good deal? Other dealers have stated they cannot match it, which makes me think it must be good, but it seems to be higher than what people are paying in other states so any insight is greatly appreciated! Thank you!! (And yes I know Maryland is not a great state to lease in due to the way they tax leases)
MSRP - $34,315
Selling Price - $28,722
Residual - 56% ($19,216)
MF - .00001
$ DAS - $3,000 (includes fees, taxes, titles, etc.)
Monthly rate - $339 and Mazda will pay the first month
That selling price seems to include your down payment as cap cost reduction, because there’s no way they’re discounting the car that much. Check out my post and scroll down to the deal I got for my cousin. He had loyalty, but even without it he would have been at an effective monthly payment of around $350 (including everything) for 12k. Add $20 for 15k and he would have been around $370. That’s your target. Right now your effective payment is $413/month. I would tell them you’ve never signed a lease without a 10% discount on MSRP before incentives. See how low you can get them. Here’s my post that I referenced:
Thanks @douglashowitzer for the reply! I ended up signing the lease since most other dealers in the area could not believe how low that offer was and felt there must be a catch that I would discover once going into the dealership. Maryland’s rates just seem to be less competitive than most other states. There was only $110 incentive and Maryland also taxes on the entire sales price rather than the lease price.
The one thing I wish I would have done differently is raise my monthly rate (and lower my $ DAS) so that I could have maximized the amount of money Mazda was paying that first month, but didn’t think to do this until the day after I signed.
All in all, I feel good about my deal even though it’s not the best…seems like it was the best for what I could get in Maryland.
One of the many rules of thumb is that you should pay as little as possible upfront. At most it should be first month and DMV (and MSDs if your state allows). If the car is totaled you lose everything you paid upfront.
I agree that your situation is unique with the Maryland tax laws. Considering that I think you did well, assuming that you didn’t have Loyalty. Hope you enjoy the car!
