I am located in IL and am considering a CX-90 PHEV from an East Coast dealer (through a broker here). The 24 mo option has a MF of 0.0007 and an RV of 63% while the 36-mo option has the same MF and an RV of 54%. Accordingly, the monthly on the 36-mo option goes up by around $25 or so. However, in light of all the fixed costs ($899 doc fee, $650 bank fee, $500 DMV, broker fee, transportation fee), I am thinking that the 36-mo makes better sense than the 24-mo option. Am I wrong here?
You didn’t say how many miles but you need to consider any maintenance cost and tires over the lease life. Personally if it’s remotely close 24 months is a no brainer.
Have you run it through the calc yet? assuming this is 2025 prem plus with 24 month/12000miles per year terms??
33months seems to best for those vehicles right now
run it through the calc…your 25 dollar price difference is not mathing.
12000 miles per year. However, I expect to use only around 9k miles per year, and I am assuming therefore that there will not be any additional costs with the 36-mo option.
Is there not a 10k option? Taking the residual hit for miles you’re likely not going to use is silly. Also run both in the calculation with zero drive off and you’ll be able to better assess your true effective monthly payment.
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This is what the calc’s show, and hopefully I’m not making a mistake -
24 mo:
36 mo:
Your calculators above show total cost as
$20,843 for 36 months
$14,326 for 24 months
So the total cost difference is $6517. But in terms of monthly payments as you say 12x $25 = $300.
If you go with 24 months term and like to keep the car beyond 24 months, you can potentially extend your lease. I don’t know how lease extension work with Mazda.
If the monthly payment looks better for 10,000 miles a year, better to go with that option since you mentioned you will only drive for 9,000 miles a year. In case you want to more miles you can buy them at a predetermined price.
Your broker should be able to give that information.
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