2004 to 2020 Mazda 3 Forum and Mazdaspeed 3 Forums banner

1 - 9 of 9 Posts

·
Registered
Joined
·
12 Posts
Discussion Starter #1
Hello! Within the next few days I hope to become a member of the community. I was curious about the deal I got and would welcome some input if you wouldn't mind!

I got them on a 2016 Mazda 3 i Touring hatchback in red with the popular equipment package at $239/mo, 36mo @ 12k miles a year. Leasing obviously.

Once you throw in the fact that I'm upside down on the car I'm driving now (2008 Infiniti g35x) $3k, it brings it up to $329/mo, 36mo, 12k miles a year.

They kept wanting to keep me above $350/mo, but I pushed to get more for my trade in. They agreed so long as I fixed some cosmetic issues that should only run me $80.

They said I'll be driving away day 1 only having paid $528, which was the first months payment and a $199 doc fee. After reading about leases on the internet, the fact that that's all I'm paying out the door seems like a really good deal. As well as the monthly payment. I'd still like to hear your guys's opinion on this deal however! I haven't signed any paperwork yet, they're still in the middle of acquiring the specific car so I could always say no.

My other question was the license plate... I found this alternative mounting kit online. Since I don't know a lot about leases do you guys think it will screw with my contract? I'm having them email me a copy of it today so I can read before I sign.

http://support.corksport.com/instructions/Axm-8-010-WEB.pdf

Thank you for taking the time to read this post!
 

·
Registered
Joined
·
290 Posts
Keep an eye on mileage fees. A 12,000 mi/year limit is somewhat low.
Depends on the person
I only drive 4 miles to work so I only end up putting 3-5k miles a year
So far this year I've only put 2k (and that's with me sometimes driving it all over town on weekends)
 

·
Registered
Joined
·
1,258 Posts
The reality is that isn't all that bad. Most leases for that model run around 215 with 2k up front. Just make sure they are paying off your car in the process. It's likely that you will be underwater on your mazda in 3 years anyways so it's worth it. I still owe 23k on mine 2014 S hatckback grand touring with aero kit and it's worth 18k on the trade and maybe 23k private buyer. I've yet to find a dealer that will pay it off for me which if I could be clean of payments since I have 4 cars i'd do it.
 

·
Registered
Joined
·
12 Posts
Discussion Starter #5
I did all the math and showed it to them, I go in today to review everything and put the first months payment down and doc fees and then they're going to work on getting the one I want since it's not in their stock. I'll be rolling the amount I still owe into my payment which is why it's a bit.

I've only put 14k miles on my G35 over the past two years of ownership. We got 12k miles because we don't know if we're moving AND I'm travelling from Nebraska to NY and back this summer so having a good allowance was kind of important to us.

What sort of modifications will I be able to do with a lease? I'm not really thinking performance mods, just visual. I figure the license plate mount is fine since I won't be drilling holes.
 

·
Registered
Joined
·
55 Posts
Similar situation here; I may be able to offer you some insight.

I recently leased a 2016 Mazda3 i Touring Hatchback (no Popular Equipment Package) with the same lease terms for $425/month. I may very well hold the record for highest lease payment on a Mazda3 i Touring! LoL

Here are my particulars:
*$425/month = $225 (Lease) + $200 carry-over to pay off trade-in
*I paid $2K out the door including 1st payment, all fees & approx. $1500 down payment (because I owed so much on trade-in)

Your deal seems decent, especially since you don't have to pay very much up front. I think the most important thing, however, is that it works for YOU.
$425/month may sound crazy to some people, but for my particular set of circumstances, it makes sense and works for me. Needless to say they wanted way more than that for a longer lease period when we first sat down (something like $550+ for 4 years! -LoL), but I'm good with where we landed.

BTW - My excessive mileage fee is $0.15/mile; I imagine yours will be similar. 12,000/year works for me, but just enough... won't be taking any long unnecessary road trips, that's for sure! It basically breaks down to 1,000 miles/month or 33 miles/day. My commute to/from work is anywhere from 25-30 miles total, so I have a little left over to add to the weekend days.

Here's a thought on the Corksport Plate Relocation Kit:
This is my first lease, so I figure that I shouldn't put anything on the car that I can't take off when it's time to give it back. That being said, theoretically you should be able to remove that kit and pop the little round cover back on the bumper when the time comes and maybe even transfer it to another car. I say "theoretically" because I had the older version of that exact Corksport relocation kit on my trade-in and that was my exact plan. When the time came though, I couldn't for the life of me get the part that screws into the frame of the old car off -it had rusted over and formed a serious bond with the car! Besides that, it was great and worked like a charm!
 

·
Registered
Joined
·
12 Posts
Discussion Starter #7
Similar situation here; I may be able to offer you some insight.

I recently leased a 2016 Mazda3 i Touring Hatchback (no Popular Equipment Package) with the same lease terms for $425/month. I may very well hold the record for highest lease payment on a Mazda3 i Touring! LoL

Here are my particulars:
*$425/month = $225 (Lease) + $200 carry-over to pay off trade-in
*I paid $2K out the door including 1st payment, all fees & approx. $1500 down payment (because I owed so much on trade-in)

Your deal seems decent, especially since you don't have to pay very much up front. I think the most important thing, however, is that it works for YOU.
$425/month may sound crazy to some people, but for my particular set of circumstances, it makes sense and works for me. Needless to say they wanted way more than that for a longer lease period when we first sat down (something like $550+ for 4 years! -LoL), but I'm good with where we landed.

BTW - My excessive mileage fee is $0.15/mile; I imagine yours will be similar. 12,000/year works for me, but just enough... won't be taking any long unnecessary road trips, that's for sure! It basically breaks down to 1,000 miles/month or 33 miles/day. My commute to/from work is anywhere from 25-30 miles total, so I have a little left over to add to the weekend days.

Here's a thought on the Corksport Plate Relocation Kit:
This is my first lease, so I figure that I shouldn't put anything on the car that I can't take off when it's time to give it back. That being said, theoretically you should be able to remove that kit and pop the little round cover back on the bumper when the time comes and maybe even transfer it to another car. I say "theoretically" because I had the older version of that exact Corksport relocation kit on my trade-in and that was my exact plan. When the time came though, I couldn't for the life of me get the part that screws into the frame of the old car off -it had rusted over and formed a serious bond with the car! Besides that, it was great and worked like a charm!
Yea, the money and everything does work for me. I'd prefer to finance but it's just not possible right now. That mileage fee seems high to me but then again I've never leased before. I didn't think about that with the kit, hopefully they improved the materials so they don't rust or I can apply something onto them. I plan on buying on lease end so I don't think it's a huge issue. But something to keep in mind if I don't end up purchasing.
 

·
Registered
Joined
·
19 Posts
Run the numbers yourself to make sure there's no funny business. Don't tell the dealer you're shopping monthly payments. Negotiate the best sales price, use TrueCar as a starting point. Ask the dealer for the rest of the details: residual value, money factor, acquisition fee, disposition fee, TTL, excess mileage. You can also ask the nice folks here for residual values and money factor (assuming you qualify)
http://forums.edmunds.com/discussion/36570/mazda/mazda3/2016-mazda3-lease-questions
Use a lease calculator and run the numbers.
http://www.edmunds.com/calculators/car-lease.html
Leasing certainly has it's benefits (lower payments, enjoy better equipped vehicle, newer vehicle more often, possibly cash in on equity rather than returning it).
My last vehicle (Prius - I drove a lot for work and gas was expensive at the time) was a lease and I couldn't wait to get another (more fun to drive) car. At the end, the residual value was $15,700 but market value was less than $12k. I consider myself lucky to be able to be able to walk away from it. On the other hand... I paid $340 a month for 36 months, had nothing to show for it (no equity to use as a down payment), mileage anxiety, anxiety about making sure it's in tip top shop when returned, modifying the car is out of the question (not that I ever would have with this particular vehicle). I'm financing my new 3 and it's $50 less per month than my previous leased vehicle. If I had purchased a Mazda 3 instead of my last vehicle, it'd be nearly paid off by now with good equity for a trade in.
Don't make a decision to lease with an assumption that you're definitely gonna buy it at the end. Be realistic about if you think you'd REALLY want the car after 36 months (and probably finance for another 3-5 years) or if you're gonna be tempted by the next gen Mazda 3. Are those options or trim level ABSOLUTELY a must have? You should be able to finance (72 months) an i Sport for less than the lease.
 

·
Registered
Joined
·
19 Posts
Keep in mind, states have different ways that tax is handled. In California, you pay taxes on the portion used (ie: $20k sales price - $12k residual value). Also, not everyone qualifies for the best rates. So comparing lease deals with forum members isn't always ideal.
Why isn't financing an option right now? If it's because of monthly payments and you're willing to settle on an i Sport...
I bought my i Sport 5 door MT for $18.5k OTD. Add about $1k if you're getting AT. Add $3k from trade-in deficit, you're at $21.5k or $22.5k. Assuming you've got good credit... You're looking at $317 or $332 a month for 72 months at 1.99% with zero down. If you must have Touring, make a down payment equal to the difference in price and you're still in the ballpark.
 
1 - 9 of 9 Posts
Top