Mazda CX-5 lease deal - Expert Help Needed

Ask the Hackrs
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1

Hello,
I would need expert inputs on the quote I received on CX-5 Grand Touring w/ Preferred Package option (FWD). I have gone through many discussions on this forum, checked MF/RV at edmunds.com. Collected quotes from more than 4 dealerships. The best (based on the monthly payment), sharing below. Is this a good deal? Is there a room for further negotiation?

MSRP - $33,035
Selling price - $30,179 (before incentive)
Incentive - $720
DAS - $614
Initial down payment - $0
MSD - $0
Monthly Payment - $381 (including tax)
first month payment - waived off (mazda offer)
Term - 36 months
Miles - 12K/year
MF - 0.00027
RV - 57%

Thanks,
Kris

2

So how does the deal compare with your research?

3

I am unable to make out if mine is better or worse compared to others. This is my first time leasing so, need guidance.

4

To compare deals across dealers for cars with similar MSRPs, just compare total lease cost over 3 year period: (Monthly payment x 36) + DAS.

The critical variable to any good Mazda deal centers around a well negotiated pre-incentive discount.

$33,035 MSRP
$30,179 SP before Incentives
$ 2,856 Dealer Discount
8.7% Pre-Incentive Discount

You have a good deal for this market where the dealers have been dealt the better hand (low inventory = less discounting). You could stop now and start driving your new CX-5.

If you must have a great deal - 10% pre-incentive is your target. It maybe tough to get in this market. To be honest, you are in no-mans land. You are $450 away from a great deal - that’s all that separates an 8.7 and 10% pre-incentive. So you need to decide if you want to gun for 10% or spend your time doing something more enjoyable.

If you can’t resist the pursuit of 10%, politely email each of the 4 dealers you have engaged and let them know that you are ready to sign a deal and pick up the car tomorrow if the deal is right. You want a $29,750 selling price at a 0.00027 MF and the $720 Mazda lease cash plus 1st month waived. Take the best deal and enjoy. You have done your homework. You fought the good fight.

5

FYI. CX-5 GT 10.9% pre-incentive is the best deal I have seen in this current market. They are giving away CX-5s in Ohio. Deal was done last month.

6

Thank you for the inputs and guidance, I will try once for 10% and will update.

7

31 posts were split to a new topic: Mazda CX-5 advise needed

39

Hi, My hunt continued and received a new quote from another dealer

$33,580 MSRP
$30,584 SP before Incentives
$3,056 Dealer Discount
9.1% Pre-Incentive Discount
720 Rebate, 1st month payment waived.
$500 DAS
Monthly payment - $361 (including tax)

As you suggested, I will stop now. However, please comment if the above deal is good for a car that has been in the lot for 170+ days. I found this from the difference in stock # in dealer inventory.The dealer is not ready to do anything further $361 (e.g. waive off disposition fee in the lease or adding Tire damage cover).

Is there anything else I should ensure if 170+ days is too old for a car to be leased?

Appreciate your hep!

Thanks
Kris.

40

9.1% Pre-Incentive at HOPEFULLY the buy rate MF is plenty good in this market.

I don’t have much experience with new cars sitting on the lot for an extended time -actually surprised you found one this old in this market. Others will need to chime in on this point. Make sure the battery is good.

41

Thank you. I just received the lease sheet. Please help me if it is conveying everything they told me over the phone.

Lease Sheet
Lease Sheet1152×918 145 KB
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42

I don’t see where they are waiving the 1st month; it’s being rolled into your cap cost. Make sure your salesman tells you how you are getting credit for the 1st month waiver.

You noted your Pre-Incentive Selling Price is $30,584, Gross Cap Cost shows a lower $30,329 - $255 difference in your favor shhh.

43

FYI: Always a good idea to build a calculator of your deal - just to double check everything is working as you expect.

44

Thank you. I tried to translate it into the calculator. Could you please check and confirm if it’s correct?

45

Calculator: You don’t have a zero drive off, you are putting $500 down.

46

Thank you. I was thinking they will consider $500 against fees/charges. By adding $500 as down, my Drive Off amount has increased as first month payment and tax are also getting added. I tried to go through the calculator tips, but I am still unable to get it right.

Since I won’t be paying the first month payment, calculator should show only $500, which I am unable to arrive at.

I’ve added all other components as well now into the calculator (e.g. Fees on Acquisition, Dealer, Gov)

Please see if the attached calculator makes sense.

47

Have you looked at what others are sharing for similar cars such as the Honda CRV?

48

I have not as I was not planning for a CRV. Thanks for the trigger, I will check.

49

Update: I went ahead with @824 's advice and ended my hunt for a better deal :slight_smile: There were lot of drama in the last 4 days. I couldn’t get the initial car and finally ended up with a different one.

Attached is the extract, not sure if it is even a good deal. If experts can comment, that would be a good learning.

MSRP - $33,985
DAS - $1,150 (last minute surprise - had to pump in addl. $650)
Term/mileage - 36 months/ 12K per year

Thanks
Kris.

cx5
cx51068×660 202 KB

50

So you spent 4 days hunting and ended up with a worse deal than before? A vehicle with just a $405 higher MSRP should not cost you $790 more overall.

51

Yeah, it’s quite frustrating. The other three dealers said no further changes. I left with this dealer who said TFS increased the money factor, stating my FICO Auto Score2 is below the required one! However, in Mazda Roadster website it is still an “Excellent” score. I gave up as I wanted to close and move on.

I would like to thank all the experts in this forum for their valued and timely inputs. This is my first time leasing. I learnt a lot and while I know it’s not a great deal, I did it myself :slight_smile: