Just signed this on Monday. My GC-L lease was ending in 2 months…
2024 Mazda CX90 PHEV Proffered $52400
Sale Price: $48400
Incentives: $8220 (7500+720)
MF: .00228
Due at signing: $457 (First Mo)
Trade-in equity:1580 (Somehow my GCL lease I signed back in 2021 at $525/mo had positive equity ) thus effective payment maybe 505, however best i was getting from other dealers was -$500 instead +$1500 so not sure what is up with these guys.
Note this is a TX lease so there is $2600 in taxes baked into the payment
Now to the question: The lease was through USBank which is notoriously difficult to get out of. I overheard the call the sales person made about the payoff, and the bank clearly stated that while customer payoff is $31500 the dealer payoff is $34500 (US bank still does this shit), in the deal they wrote up $31500. So, obviously the bank will demand $34500 from them, but my question who is on the hook for extra 3k? Is it possible that I might be liable for the difference, or since they agreed to buy my car its on them now? Thanks
Its not quite right, in TX there is a provision for immediate resale. Also, because it was a lease i didnt get a tax credit in a first place. Also, they already took possession of the car… if they dont pay it off, they will not get a title and will not be able to resell it.
Unwinding is almost zero cost except for time wasted. They always wait up to 14 days to submit paperwork, but I bet they will negotiate for the lower price
There are 3 payoff amounts with US Bank as I recently learned: 1)yours, 2)theirs if you get another US Bank loan/lease, and 3)theirs if you don’t get into another US Bank.loan/lease. In my Wrangler’s case, #2 is only about $1500 more than #1.
Also, if they unvind the deal after a couple of weeks, then they get the Mazda back with several hundred miles and potential wear/damage. Would a dealer realistically want to do that?
Final update, hope this helps someone. Dealership is paying off the US Bank, they will be loosing money on it, as they listed the car for sale for less than their payoff was, so I assume its on sales manager for not catching this or perhaps they knew it all along and just needed that sale to be structured that way
Bottom line is that ~$450/mo range with zero down is is a doable deal, even in TX; If you find a dealer who is willing to offer a tax credit this could be a real hacker deal at less than $400/mo. The car is VERY nice, probably the best driving SUV this side of BMW/Porsche. In retrospect I would go for a next level up for a bit extra, somehow this 50k car doesnt have memory seats and wireless carplay. Second issue can be solved with a $30 dongle but no memory seats is somewhat annoying if you have more than one driver…
Do you have one of these you recommend? I wouldn’t mind having this in my current car that is wired only. I imagine they don’t work great (IMO they need to auto connect to be solid) but maybe one of them does work nicely.
Its OS dependent. Search amazon for carplay wireless adaptor. I even have one in my Alfa from 3 years ago and it works great, connects automatically every time. It crashes maybe once a month at most, but all u have to do is unplug it and plug back in. Way better than connecting the wire every time you get in the car
) thus effective payment maybe 505, however best i was getting from other dealers was -$500 instead +$1500 so not sure what is up with these guys.