Negative Equity Strategy (mazda phev)

Ask the Hackrs
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1

Hey Leasehackr community,

I’m approaching the end of my 24-month lease on a 2025 Mazda CX-70 PHEV Premium Plus this September in Michigan.

Here are the current specs and numbers:

Maturity Date: September 27, 2026

Current Mileage: ~13,200 miles (against a 20,000-mile contract allowance)

Contract Payoff Balance: $41,209.94

Carvana / Market Value Offer: ~$33,000

Estimated Negative Equity: ~$8,200

Since Mazda Financial won’t negotiate the buyout, purchasing it means taking an $8,000+ paper loss from heavy PHEV depreciation.

My plan is to turn it in cleanly at maturity and shift focus toward purchasing a used/CPO vehicle—likely targeting a 2025 Honda CR-V Hybrid Sport-L where the heavy early depreciation has already been absorbed by someone else.

Has anyone successfully dealt with this level of captive negative equity on a Mazda PHEV lately, or is walking away at maturity with zero penalties the absolute cleanest path forward? Any feedback or alternative exit strategies would be appreciated!

@AutoNinjas @AutoCompanion

2

The model that wrote this for you could have easily answered this question. Whats the point of this post? But yes returning a car you leased is the cleanest path.

3

That’s expected with most evs and plug in hybrids

Just turn it in at the end and you’re fine

4

Lol that’s why I posted here. Models give textbook answers but I wanted to hear from what actual hackers are doing and make sure I am not missing any equity hacking trick or loophole. Appreciate the validation on walking away clean.

5

This sounds great in theory and may work on a CX5/50, Tucson or Sportage etc.

But that doesn’t work on CRV or RAV4, they are priced absurdly in the used car market and you’re not benefiting from someone else’s depreciation.

6

We have a CX-70 PHEV that is also maturing soon. My wife wants something with a plug, EV or PHEV. It’s not worth buying the Mazda, since the residual is higher than the market value. Still looking for alternatives. We were in this for a little over $200 a month effective and are having trouble finding anything decent for even twice that.

One strategy I have considered when I like a lease and am in this situation is to return it and then track it and buy it back from wherever it ends up. Would probably need to be in my wife’s name or something, but has anyone tried that?

7

Your expectations for this place are too high

8

Yea there is no magic :slight_smile:

9

Most vehicles this far underwater go to auction and are not held on the dealers lot for sale. I guess you could wait to see where it ends up and try to buy it back.

10

The Mazda PHEV powertrain is proving to be rather unreliable.

You’re better off looking at buying used EVs.

11

I was considering the strategy with my Rubi X actually, but point taken. It seems like I may be well under on the miles and it has been good to me so far, but they are not known to be pillars of reliability either.