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Discussion Starter #1
I’ve seen other forums start lease deal threads and wanted to start one here. It’ll be interesting & helpful to share info.

I’m waiting on written (email) quotes and will share when I get them. I asked the dealers to share the Final Cap Cost showing discounts / incentives, money factor, and residual values.

So far the verbal offers have ranged from $2K down / $500 monthly to $0 down / $420 monthly for a GT Reserve with accessories (tint, net, pedals~ $700).

Any new or portential 2018 lease owners want to share?
 

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Discussion Starter #2
Just received one back...

2018 GT Reserve / Machine Gray upcharge

Term: 36 months
Down Payment: $0 upfront, no walk away costs
Cap Cost: $30,200 (ok discount for a new model, this includes *no accessories*)
Money Factor: 0079 ( Owch... 18%?!!? My credit score is almost 800 not sure whats up with that. This is my first least. Are they typically high?? )
Res Value: 55% - $18,090
Monthly payment: $386

Thoughts?
 

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Just received one back...

2018 GT Reserve / Machine Gray upcharge

Term: 36 months
Down Payment: $0 upfront, no walk away costs
Cap Cost: $30,200 (ok discount for a new model, this includes *no accessories*)
Money Factor: 0079 ( Owch... 18%?!!? My credit score is almost 800 not sure whats up with that. This is my first least. Are they typically high?? )
Res Value: 55% - $18,090
Monthly payment: $386

Thoughts?
Do they know your credit situation? who are terms through?, Mazda credit uses chase, and when I worked in the Auto industry some 16 years ago as an F&I mgr they had some of the best rates for those with great credit. I do know that when providing phone/internet quotes that some dealers will error on the side of caution when quoting. No way I would pay 19 percent, even on a lease. Poor use of money IMO. Not sure what your pain point for a pmt is though, so that might be an issue.

I would ask who the bank is, is the rate tiered based on credit, and what their buy rate is.
 

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Sorry guys, but can you guys explain what Some of those terms mean? Cap cost, money factor, Res value?
I have always purchased, but I am interested in how leases work.
I have never leased as I commute 60 miles a day and would blow away the ususal 12,000 /year miles, but I hear you buy the car after?

EDIT: OK, so google works LOL

So Cap cost is basically the cost of the car, money factor is basically your interest rate? Residual value is what it will cost to buy at the end of the lease?

If you buy the car at the end of the lease, do you just pay taxes on the residual value?
 

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Discussion Starter #6
Sorry guys, but can you guys explain what Some of those terms mean? Cap cost, money factor, Res value?
I have always purchased, but I am interested in how leases work.
I have never leased as I commute 60 miles a day and would blow away the ususal 12,000 /year miles, but I hear you buy the car after?

EDIT: OK, so google works LOL

So Cap cost is basically the cost of the car, money factor is basically your interest rate? Residual value is what it will cost to buy at the end of the lease?

If you buy the car at the end of the lease, do you just pay taxes on the residual value?
You got it.

With a lease, you finance the depreciation of the vehicle essentially. But, there are things you can do to help improve the numbers.

Cap cost - starting price. This does NOT have to be MSRP. Negotiate it like you would a new car.

Money Factor - interest rate. Just like with a new car loan, a better MF will cost u less. Better credit > better MF but be aware of it because shady dealers might let a higher rate go unnoticed because they get a kick back from the bank for it.

Residual Value - the ESTIMATED value of the car at the end of your term. Depreciation might be estimated to be 55% and the value is say $20,000 after 3 years. But maybe there’s high demand for your vehicle in 3 years and $22,000 is more accurate. You can sell the car on your own, pay off the lease and pocket the equity. Likewise, if the value is only $18,000, you lucked out and the back eats the difference.

If you opt to buy the car at the end of the lease, it’s like buying a used car. You pay taxes, fees, etc....
 

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How many miles does this lease get you? 12k a year? If so that's 38.6 cents a mile? Thats insane, I can't believe any car should cost that much just to drive around.
 

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Thanks for the explanation Trippp! I plan on leasing the 2018 Mazda 6 Signature later this year. This will be my first lease so I'm a little nervous on what to look at when looking at the papers and the right questions to ask. So thanks for starting this thread!
 

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My sales guy was going out of town so just got quick lease pricing, still need MF, cap cost and residual used.

12,000K/36 months $0 Down

Mazda 6 2018 Touring $349 a month
Mazda 6 2018 GT $426 a month
 

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Term: 36 months
Down Payment: $0 upfront, no walk away costs
Cap Cost: $30,200 (ok discount for a new model, this includes no accessories)
Money Factor: 0079 ( Owch... 18%?!!? My credit score is almost 800 not sure whats up with that. This is my first least. Are they typically high?? )
Res Value: 55% - $18,090
Monthly payment: $386

Thoughts?
This looks like $32,890 MSRP to get a 55% RV of $18,090.
The MF is definitely not .0079, but it's close enough to be .00079 -- which is very good; about 1.9%.

Yes, I know this post is a year old, but I think the subject is still relevant.
 
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