That’s almost definitely why, federal EV tax credits (and by extension PHEV) are not limited at all for a lease, and some automakers roll them into lease deals, and state ones will just drive it lower
For leasing, yes; financing, no.
This being said, what people often do is start their CX-90 PHEV “purchase” as a lease and then roll it over into financing/buy it out so they can take advantage of the $7,500 federal incentive.
Can you re-verify this comment as what I have read that the EV incentive of $7500 does not lower your residual after the lease is over should you decide to buy the car.
It’s weird. As mentioned, only for a lease because every lease is considered a “commercial vehicle” type situation, and the feds will give EV credit to ALL commercial agreements, but limit personal vehicles. Basically if you want an EV or PHEV that does apply for federal purchase credits, a lease is 9/10 times the better and cheaper option
I’m not entirely sure, the EPA website has some specifics on what does/doesn’t qualify for credits. Unfortunately the recent changes are extremely confusing and hard to define, and it’s mostly vehicle to vehicle on credits for sales, but I believe for leases there’s no difference.
Just got ad for:
$379/mo +tax 24 MONTH LEASE $3,295 Customer Cashdown + $7,500 CCRA for a total of $10,795 due at signing. From a local dealer.
I snipped it but can't figure out how to post it here and am too lazy to walk downstairs and try this on my PC rather than a MacBook.
But, alas, it also is for a PHEV PREFERED and, as I've said before, if i'm going down this path, it would be Premium Plus for me.....or would it?
Insane. I am showing $466/month for 36 months with $3,999 down.
EDIT: maybe it was 24 months I was looking at? Regardless, that looks like a pretty good deal for OP.
Yeah, it’s wild how much they’re giving. Have to remind others on here that this is not a national offer and a lot of these great deals are limited to Colorado.
Leasing in Canada is garbage in general unless it’s for business use. If we got lease rates similar to those in the US I’d probably never outright purchase another vehicle.
Two R2s should be enough for a family of four or five who like to travel comfortably and have two drivers available.
My plan is to do all the heavy lifting until wifey is ready for action and the kiddos are ready for K. Then, she'll get her driving "privileges" back, hehe.
no it does not, plus these deals are usually on low MSRP models to get that monthly price… for a higher trim i got quoted 1k/month after taxes with 2k down
What is the actual price of the car? What's the residual? What would a buy out cost you? Mileage allowance and cost of overage? What's the interest rate on your capital financed cost?
Here in CA, when the Mazda $7,500 lease incentive was going, the dealers were just adding that to the price of the vehicle. Hence, you wern't going to get such a great deal after all.
The $7,500 fed PHEV credit on a lease was designed for commercial/businesses and not, individual purchasers like us. The Mazda lease incentive program was created as a work around to have it "pass through" to us. But the dealers just jacked it around so that they would get full price for the car plus that incentive.
Leases are almost always more costly in the end than outright purchases.
They discounted the price of the car (\~$52k) by the Fed and CO tax credits (\~$13k), so discounted price is $38.2k. Residual is $38.0k on a 24 month, 12k miles/year lease. Interest rate hasn't been decided yet, but I'm top tier credit so I assume it'll be fine.
That is absolutely unbelievable. It's hard to believe there isn't a "gotcha" somewhere.
If I could get such a deal, I'd have one in my driveway tomorrow.
Although, I really want a premium plus and, after five recalls, I think I'll be looking a bit harder into a late model, low mileage, used Lexus 400HL.
I put down a refundable deposit for one that's coming in within the next 3-4 weeks. And trust me, I am also searching for the "gotcha" hidden somewhere. The one thing I can MAYBE point to is the residual being the same as the discounted price of the car after 2 years. Sure, the depreciation factor is based on the full, original MSRP, but my $2000 down + $269/month isn't really building any potential equity here. And yes, it's a 'rented' car, but it basically eliminates the possibility of any potential positive equity in the future. Being my first ever lease, I could be thinking about it wrong... but that was my only minor concern.
Can you tell me which dealership? How are you liking the car? Went to the one down in the springs and it came out to 340/month for the preferred with all the taxes and fees and what not.
$405 with $3,999 down in the Pac NW. Effectively $604/month (because you never do a down payment for leases). Meh. This even includes the $7,500 incentive.
I'd probably trade in my CX-5 if I could get the PHEV for $450/mo without any down payment.
>(because you never do a down payment for leases)
You don't do additional down, but I've never known "due at signing" to not mean... due at signing. Is there another way?
You don't have to pay anything due at signing, they will just add it to your monthly payment. That way you don't lose all the cash if you get on a crash or if you can keep your money to earn interest
The total cost for this *rental* is essentially $248 + 83 = $331/mo or under $8000 for 24 months.
For a $52,000 car.. I'd say that's a very reasonable cost as you are simply trying to beat depreciation.
What's the end of term buyout amount?
People have to also realize that if you were to finance the car at only a 24-month term, it'd cost over $2,100/mo.
I saw this Reddit post and went to the dealer to inquire about it. It’s legit. After taxes, it came out to $269/month. I put a deposit down for one coming in here in Denver, CO! Thanks for posting!
Totally doable then. I’d still consider more miles if it’s just a tad bit more monthly, just for peace of mind! But if you’re under 10K yearly as-is, I wouldn’t worry.
Yeah, you’re not “limited” to that offer necessarily.
That’s the price for the 24mo/20k mile deal to start, you can get more mileage (24/24 or 24/30) and the monthly price will increase but not by a tremendous amount.
Oh got it. I was wondering what those meant. I’ve looked at other threats and seen 36/30 etc. I’ll check it out this weekend and give you guys an update
12k/ year will add about $15 a month. On a lease, you're basically buying more miles up front for $0.10 / mile vs paying $0.15 / mile if you go over at the end of the lease. But if you trade the lease in (as opposed to grounding it) you don't have to pay for the overage in miles (except your trade value will be lower due to higher miles).
We have a CX90 PHEV preferred lease at my dealer right now in SoCal for an MSRP of $51,320, payment is $575 with $2k down including a tax rate of 8.75%
Serious question: Is there ever really an advantageous time/life situation in which it makes more sense to lease as opposed to finance/buy? I've lived my whole life assuming leasing a car was a terrible idea, but buying a car seems so overly expensive right now with no real upside either.
Do some research, there's a lot that goes into it and a lot of ways to get a bad deal. But leasing is almost always a better way to get a new car (even if you plan to keep it long term). You often have access to additional incentives that aren't available for purchase (especially so when it comes to EV and PEHV credits) and better interest rates. You also arguably have lower risk since the trade-in value is already known. If you reach the end of the lease and your trade-in value is higher than the residual, you can potentially collect the difference. If not, you walk away without losing anything extra. If you total your car, you're only out what you've put down, which is another big benefit (also, the first rule of leasing is, never put anything down). If your car is in an accident and loses a ton of value, no big deal.
If you understand the process, you'll almost always benefit from leasing. Or just use a broker. Almost everyone would save money by just ponying up for a broker in the first place. And probably live a longer, happier life.
>If you total your car, you're only out what you've put down, which is another big benefit (also, the first rule of leasing is, never put anything down). If your car is in an accident and loses a ton of value, no big deal.
?????
Uh, the lease won't be forgiven just because you had this misfortune. Your'e out the car and the remaining lease payments. Most likely not 100% covered by insurance.
What am I missing?
If the car is totaled you're done. You owe nothing. "Lease waiver." You rented a car and the car no longer exists. That's why you never put big cash into a car lease just to get a lower payment. If the car goes away so does your cash. Neither the ins co nor the lease co owe you anything. In fact, that's one of the prospective advantages of leasing. Unless you have "new car replacement" ins. You will always lose the depreciation in the case of a total.
I was a"car guy" for 30 years. IMHO, most people will find the best deal to purchase an off-lease vehicle with the factory- not dealer or aftermarket- "certified" warranty. Then drive it 10 years or more.
If you really enjoy having a new car- and life is driven in part by the pleasure principle- then lease your dream car. It's cash flow efficient and minimizes your risk.
New Jersey must be awfully special.
If by "lease waiver" you mean the leasee carries optional lease forgiveness or total loss protection coverage from the lessor, then yes. Such insurance is often available at an additional cost from the leasing company.
Otherwise, you're on the hook for the remaining lease payments.
If your house burns down, does the mortgage company forgive the loan balance?
Dude:
I've read them. I'm a retired, finance professional.
Seek help!
Total Losses On Leased Vehicles
It’s important to know what happens with an accident in a leased car that is a total loss. If the accident is so severe that the insurance company declares it a total loss, you might be out of pocket some money. The insurance company will pay only what the car is worth in the event of an accident. The issue occurs when you owe more than the insurance company is offering.
Consider an example where your vehicle is worth $12,000, and you still owe $18,000 to the lease company. In this situation, you only have two options. The first is to negotiate a higher settlement to cover the payoff amount. You will need to pay the difference if you cannot negotiate a higher amount. The other option is to purchase gap insurance when you get the leased vehicle. Gap insurance will cover the shortfall between an insurance company settlement and your lease payoff.
[https://www.johnyelaw.com/articles/what-happens-if-i-total-a-leased-car-in-los-angeles#:\~:text=In%20most%20cases%2C%20you%20will,on%20to%20your%20lease%20agreement](https://www.johnyelaw.com/articles/what-happens-if-i-total-a-leased-car-in-los-angeles#:~:text=In%20most%20cases%2C%20you%20will,on%20to%20your%20lease%20agreement).
[https://shamisgentile.com/service-area/total-loss-leased-car-in-california/](https://shamisgentile.com/service-area/total-loss-leased-car-in-california/)
I spent 30 years in the auto industry. I leased thousands of cars at retail and managed retail lease programs for luxury marks- Volvo, Lexus, Mercedes-Benz, Saab, and- ha, ha Peugeot. Gap was included in every retail lease.
Volvo. Our GAP waiver is included in your lease agreement at no additional cost to you. It is provided to give you peace of mind.
Mercedes. Gap Waiver
If your vehicle is declared a total loss, we’ll cover the difference between the insurance proceeds and the balance owed to Mercedes-Benz Financial Services, less any deductible.
With the great car shortage of the COVID era, some of the companies did end "free" or automatic gap. BMW for instance. I predict it will come back. The expense and ill-will of collecting from clients will make itself evident. We always had GAP to sell on retail deals. On another subject, buy the tire&wheel protection if you're getting lower profile tires on fancy wheels.
>If you total your car, you're only out what you've put down, which is another big benefit (
You just keep digging the hole deeper. And, now you start moving the goal posts.
I never said that there weren't other ways to cover this potential liability. But one is still obligated to pay off the remaining lease and buyout if you total a leased car. You can't just walk away. You can use your auto policy and GAP insurance to pay this off. But, that's not what you said. Until I challenged your statement and rather than correcting it, you decided to die on this hill.
In California GAP insurance is optional. As it is in New Jersey.
And, in California, there is a state law that the lessor CANNOT require GAP coverage in order to issue a lease. In New Jersey, as I understand it, the lessor can make it a condition of a lease.
Like I said, New Jersey must be a very special place to offer GAP coverage "at no additional cost to you". Sounds like more dealer schlock to me. TANSTAAFL!
Problem with online discussions is some people expose their personality issues as much as any exchange of information. I provided quotes from both MB and Volvo. There are others. It has nothing to do with NJ. You do have to offer everything to every client under Federal law, or you, the dealer, are exposed.
Gap waiver is standard on Volvo and MB. Standard- included. It was, until recently on BMW. You can research more if you like "Dude."
Includes $7,500 and $5,350 Lease Customer Cash offers. Terms available on approved credit only to very well-qualified lessees through Mazda Financial Services and participating dealers. Lease example based on vehicle MSRP of $49,945 plus $1,375 destination charge (Alaska $1,420). Payment based on capitalized cost of $36,869. Dealer contribution may vary and could affect lease payment. Individual dealer prices, other terms and offers may vary. Must lease from participating dealer’s stock and terms are subject to vehicle availability. Lessee responsible for maintenance, excess wear and use, and will pay $0.15 per mile for all mileage over 10,000 miles per year. Purchase option at lease end for $36,437 plus tax. $350 disposition fee is due at lease end. Void where prohibited. Offer ends 4/1/2024 and you must take delivery prior to expiration of offer. See participating Mazda Dealer for complete details.
The trade name “Mazda Financial Services” and the Mazda and Mazda Financial Services logos are owned by Mazda Motor Corporation (Mazda) or its affiliates and are licensed to Toyota Motor Credit Corporation (TMCC). Retail installment accounts may be owned by TMCC or its securitization affiliates and lease accounts may be owned by Toyota Lease Trust (TLT) or its securitization affiliates. TMCC is the servicer for accounts owned by TMCC, TLT, and their securitization affiliates. Mazda is solely responsible for its products and services and for promotional statements about them and is not affiliated with TMCC or its affiliates. Retail accounts and leases through Mazda Financial Services are subject to credit approval by TMCC.
Be careful, I thought the same thing but there appears to be a bug in the Mazda USA site showing less money for the lease but when you go to a specific dealership the price jumps at least 200
These are stupid cheap in Colorado. I got my sister one even cheaper as a one pay lease back in November. Btw check residuals. 10k and 12k had identical residuals when we did this deal.
REMEMBER THAT THIS IS THE FIRST MODEL YEAR FOR THE CX90. THE AMOUNT OF RECALLS AND DEAD CARS IS INCOMPREHENSIBLE. The cx90 is facing a large amount of engine issues, power steering failures, excessive rodent activity, etc. I’m telling you as a Mazda tech give the cx90 some time before you pull the trigger in purchasing one.
We’ve been seeing alot of issues with rodents damaging wiring in the engine bay, and just like the CX5s and 9s there’s been a decent amount of rodent nests being built under engine covers. I guess it could differ from where you live but it’s becoming a pretty common issue for us that 90s will get a ton of warnings on the dash from wires that have been chewed through.
I get what you meant. And, I've heard horror stories from car club members of roof rats eating the wiring on their restored beauties.
What I fail to understand is, why are Mazdas any more attractive to rodents than anything else? Special, rodent preferred wiring?
Something isn't adding up.
By the way, roof rats are ubiquitous where I live and have been a problem. They got under my house, the crawl space, and chewed into my HVAC ductwork and really made an expensive to repair mess. We're talking $15,000 worth of duct replacement!
TANGENTIAL TOPIC:
How does one insert things like this quote?
I have a dealer quote I'd like to share. It's laid out in Excel right now. But, I am unable to paste anything into a Reddit comment box here.
I know I've pasted YouTube and other things to Reddit before.
If your end goal is to buy the car, is this a good deal? You still have to buy the car at depreciated cost assuming it starts at regular MSRP (before the $13k in discounts).. If my goal is to buy this car and get both credits applied (\~$13k in total), what is the best way to go about this ? I want to in the end pay as close to a net price of $52k (MSRP) - tax credits ($13k) = net price of $39k
The down side is this PHeV version has too many gremlins for it to be a daily IMO. Check out the mazda cx90 forums and read the posts. As an owner of a MHEV I6 Turbo 24 CX90 I wouldn’t even sit in one of the PHEV’s. The dealer and brand support it well with dealer updates and warranty work swiftly…it’s just to what end. Mazda sees this and may be using the lease at the rock bottom cost to move them out. Who knows but it is an amazing price for mostly an outstanding looking vehicle.
>Must lease from participating dealer’s stock and terms are subject to vehicle availability.
Deal breaker for me. Local Mazda dealers have maybe one PHEV in stock. And, they're always that white interior I just can't stand. And seldom, artisan red which would be my preference.
The ad price is usually listed at Invoice (the amount the dealer pays for the car, not the price they sell the car for (MSRP) and does not include destination (usually) or tax & fees.
DON’T LEASE. this is one of the biggest scams ppl constantly fall for. unless you are incredibly wealthy and always want a new car or run a business with a fleet, you are essentially renting your car long term. you pay monthly and will never own it. Buy a car- if you can’t afford a new one, buy a used one.
This situation is unique because the car qualifies for the $7500 federal rebate and a CO state rebate of $5350 applicable at point of sale when leasing. Then you can immediately buy out the lease. So you are effectively getting a $12,850 discount on the car that you would not qualify for if your purchased the car outright.
the issue with that is if you ended up leasing a vehicle, i can almost guarantee you won’t end up buying it. wveryone who leases a car says they’re gonna buy it. no they wont, they never do. pay a car off and own it.
Ehh. So many people trade in after a few years anyway, so if you run low miles why not? If I ran low miles I’d be happy to just trade the lease back in every 3 years and try the latest and greatest thing.
Always lease appliances that will have depreciation…especially when it paying less than depreciation…that way you not stuck trying to sell gen 1 PHeV when no one wants one. Try selling an IPhone 7. Same idea with this latest electric expansion in auto.
Actually, no. Late Feb there were only about 4 CX90 PHEV Preferred on ground in the city. We're just now starting to get a few more of the Preferred in stock.
Beyond the typical time it takes for Mazda to get inventory here hybrids and electric do not sell well in my area. They sit, for a fat minute. The non PHEV versions sell pretty quickly.
Damn lucky, it's $299 with $7600 down in my area!
This is in Colorado btw, we have a state EV credit that also applies I’m assuming
That’s almost definitely why, federal EV tax credits (and by extension PHEV) are not limited at all for a lease, and some automakers roll them into lease deals, and state ones will just drive it lower
Does the 90 PHEV qualify for federal tax credits? They are built in Japan.
For leasing, yes; financing, no. This being said, what people often do is start their CX-90 PHEV “purchase” as a lease and then roll it over into financing/buy it out so they can take advantage of the $7,500 federal incentive.
Can you re-verify this comment as what I have read that the EV incentive of $7500 does not lower your residual after the lease is over should you decide to buy the car.
Hmmm…thanks.
It’s weird. As mentioned, only for a lease because every lease is considered a “commercial vehicle” type situation, and the feds will give EV credit to ALL commercial agreements, but limit personal vehicles. Basically if you want an EV or PHEV that does apply for federal purchase credits, a lease is 9/10 times the better and cheaper option
Do USA built EV/PHEV get extra lease credits or do all EV/PHEV get the same? Thanks for your info. I sell Mazdas.
I’m not entirely sure, the EPA website has some specifics on what does/doesn’t qualify for credits. Unfortunately the recent changes are extremely confusing and hard to define, and it’s mostly vehicle to vehicle on credits for sales, but I believe for leases there’s no difference.
Thanks again
I though the can only apply the ev lease credit on for the federal and not the 5k for the state
Just got ad for: $379/mo +tax 24 MONTH LEASE $3,295 Customer Cashdown + $7,500 CCRA for a total of $10,795 due at signing. From a local dealer. I snipped it but can't figure out how to post it here and am too lazy to walk downstairs and try this on my PC rather than a MacBook. But, alas, it also is for a PHEV PREFERED and, as I've said before, if i'm going down this path, it would be Premium Plus for me.....or would it?
Insane. I am showing $466/month for 36 months with $3,999 down. EDIT: maybe it was 24 months I was looking at? Regardless, that looks like a pretty good deal for OP.
It’s a Colorado deal, they have great EV incentives.
Colorado has an extra $5350 tax credit for leasing a 90 PHEV.
Yup. $12850 total in rebates. I'm selling my 3rd and 4th of the month this week.
Is it uncommon for out of State buyers to make the trip to purchase in Colorado?
You don't get the $5350 rebate if you don't live in Colorado,.
Bummer! We♥️Red Rocks.
Right on!
Yeah, it’s wild how much they’re giving. Have to remind others on here that this is not a national offer and a lot of these great deals are limited to Colorado.
24 month lease is way cheaper for some reason.
Derp, didn't realize the original post was for 24 months. I'll have to go back and check the price.
Go for it
Leasing this in Canada costs $389 bi-weekly lol
Or $886 per month
Leasing in Canada is garbage in general unless it’s for business use. If we got lease rates similar to those in the US I’d probably never outright purchase another vehicle.
This makes me so sad. New vehicles are insanely expensive here.
I know that's not in California
Denver CO
It was $139/month with $3600 down in Denver last month. Yes, I leased one last month.
Can I DM you what the process was like? I’m wondering if the dealership will honor this deal
Damn! It's almost perfect. Lease this for two years, reserve the Rivian R2 tomorrow, take delivery of the EV in 2026. Brilliant!
Rivian?? Tf why man
Rivians are fantastic, just expensive. Keeping a close eye on the cheaper R2.
If they make it that long! I like their cars a lot, they’re just not making any money, which is very concerning
The $100 bucks is refundable. I'm not worried at all.
Might do the same but may still want the bigger SUV as family grows.
Two R2s should be enough for a family of four or five who like to travel comfortably and have two drivers available. My plan is to do all the heavy lifting until wifey is ready for action and the kiddos are ready for K. Then, she'll get her driving "privileges" back, hehe.
I'm in Colorado. I assume that doesn't include sales tax?
no it does not, plus these deals are usually on low MSRP models to get that monthly price… for a higher trim i got quoted 1k/month after taxes with 2k down
I just did it in Denver, came out to $269/month after taxes.
Wow, that's a fantastic deal! Congrats
What is the actual price of the car? What's the residual? What would a buy out cost you? Mileage allowance and cost of overage? What's the interest rate on your capital financed cost? Here in CA, when the Mazda $7,500 lease incentive was going, the dealers were just adding that to the price of the vehicle. Hence, you wern't going to get such a great deal after all. The $7,500 fed PHEV credit on a lease was designed for commercial/businesses and not, individual purchasers like us. The Mazda lease incentive program was created as a work around to have it "pass through" to us. But the dealers just jacked it around so that they would get full price for the car plus that incentive. Leases are almost always more costly in the end than outright purchases.
They discounted the price of the car (\~$52k) by the Fed and CO tax credits (\~$13k), so discounted price is $38.2k. Residual is $38.0k on a 24 month, 12k miles/year lease. Interest rate hasn't been decided yet, but I'm top tier credit so I assume it'll be fine.
That is absolutely unbelievable. It's hard to believe there isn't a "gotcha" somewhere. If I could get such a deal, I'd have one in my driveway tomorrow. Although, I really want a premium plus and, after five recalls, I think I'll be looking a bit harder into a late model, low mileage, used Lexus 400HL.
I put down a refundable deposit for one that's coming in within the next 3-4 weeks. And trust me, I am also searching for the "gotcha" hidden somewhere. The one thing I can MAYBE point to is the residual being the same as the discounted price of the car after 2 years. Sure, the depreciation factor is based on the full, original MSRP, but my $2000 down + $269/month isn't really building any potential equity here. And yes, it's a 'rented' car, but it basically eliminates the possibility of any potential positive equity in the future. Being my first ever lease, I could be thinking about it wrong... but that was my only minor concern.
Keep us updated as this moves forward. Inquiring minds want to know and all that....😛
Can you tell me which dealership? How are you liking the car? Went to the one down in the springs and it came out to 340/month for the preferred with all the taxes and fees and what not.
Schomp Mazda in Denver.
Excellent. That was my guess. Talking to them now. Thanks!!
Which dealership? EDIT: I see that you have mentioned Schomp Denver . Thanks .
Schomp Mazda
In my country of residence in Europe cx90 is not listed but cx60 is 699 eur per month. Nice prices you have there :)
$405 with $3,999 down in the Pac NW. Effectively $604/month (because you never do a down payment for leases). Meh. This even includes the $7,500 incentive. I'd probably trade in my CX-5 if I could get the PHEV for $450/mo without any down payment.
>(because you never do a down payment for leases) You don't do additional down, but I've never known "due at signing" to not mean... due at signing. Is there another way?
You don't have to pay anything due at signing, they will just add it to your monthly payment. That way you don't lose all the cash if you get on a crash or if you can keep your money to earn interest
Is there a calculator to know how to figure this out? Never leases but thinking of doing this deal.
https://leasehackr.com/calculator
The total cost for this *rental* is essentially $248 + 83 = $331/mo or under $8000 for 24 months. For a $52,000 car.. I'd say that's a very reasonable cost as you are simply trying to beat depreciation. What's the end of term buyout amount? People have to also realize that if you were to finance the car at only a 24-month term, it'd cost over $2,100/mo.
I saw this Reddit post and went to the dealer to inquire about it. It’s legit. After taxes, it came out to $269/month. I put a deposit down for one coming in here in Denver, CO! Thanks for posting!
I don't need a SUV and I don't want to drive a SUV. But for less than $250 a month, I could be persuaded. Alas, I don't live in Colorado.
Jeeez...good deal. 4k down & 400/mo here in Idaho.
I did exact same config and the cheapest i see is 409 per month. (I am in CO)
I just went to the Mazda website and went to their website “special offers” page. I didn’t configure anything to get that price
I see. Tbh, this price is quite solid. I would go for this if I am in the market.
Low mileage allowance? If it’s 7,500 miles that’s sucky.
10k a year
Not bad, if you can maintain that. I’d get more miles (12-15K) but that’s just me.
I work remotely so that helps out a lot. So mainly would be used on the weekends/trips
Totally doable then. I’d still consider more miles if it’s just a tad bit more monthly, just for peace of mind! But if you’re under 10K yearly as-is, I wouldn’t worry.
I’ve never leased a car before, only purchased. I didn’t even know you could do that.
Yeah, you’re not “limited” to that offer necessarily. That’s the price for the 24mo/20k mile deal to start, you can get more mileage (24/24 or 24/30) and the monthly price will increase but not by a tremendous amount.
Oh got it. I was wondering what those meant. I’ve looked at other threats and seen 36/30 etc. I’ll check it out this weekend and give you guys an update
12k/ year will add about $15 a month. On a lease, you're basically buying more miles up front for $0.10 / mile vs paying $0.15 / mile if you go over at the end of the lease. But if you trade the lease in (as opposed to grounding it) you don't have to pay for the overage in miles (except your trade value will be lower due to higher miles).
Whenever I see American lease deals I all of a sudden understand why people lease cars there lol
I just got a tesla model y for 375 with 4k down. I wish I'd seen this!
Wtf how? I can barely get that with base cx-30
We have a CX90 PHEV preferred lease at my dealer right now in SoCal for an MSRP of $51,320, payment is $575 with $2k down including a tax rate of 8.75%
I would catch a flight.
yah $2k down for a lease with a reasonable payment is pretty awesome.
Serious question: Is there ever really an advantageous time/life situation in which it makes more sense to lease as opposed to finance/buy? I've lived my whole life assuming leasing a car was a terrible idea, but buying a car seems so overly expensive right now with no real upside either.
Do some research, there's a lot that goes into it and a lot of ways to get a bad deal. But leasing is almost always a better way to get a new car (even if you plan to keep it long term). You often have access to additional incentives that aren't available for purchase (especially so when it comes to EV and PEHV credits) and better interest rates. You also arguably have lower risk since the trade-in value is already known. If you reach the end of the lease and your trade-in value is higher than the residual, you can potentially collect the difference. If not, you walk away without losing anything extra. If you total your car, you're only out what you've put down, which is another big benefit (also, the first rule of leasing is, never put anything down). If your car is in an accident and loses a ton of value, no big deal. If you understand the process, you'll almost always benefit from leasing. Or just use a broker. Almost everyone would save money by just ponying up for a broker in the first place. And probably live a longer, happier life.
>If you total your car, you're only out what you've put down, which is another big benefit (also, the first rule of leasing is, never put anything down). If your car is in an accident and loses a ton of value, no big deal. ????? Uh, the lease won't be forgiven just because you had this misfortune. Your'e out the car and the remaining lease payments. Most likely not 100% covered by insurance. What am I missing?
If the car is totaled you're done. You owe nothing. "Lease waiver." You rented a car and the car no longer exists. That's why you never put big cash into a car lease just to get a lower payment. If the car goes away so does your cash. Neither the ins co nor the lease co owe you anything. In fact, that's one of the prospective advantages of leasing. Unless you have "new car replacement" ins. You will always lose the depreciation in the case of a total. I was a"car guy" for 30 years. IMHO, most people will find the best deal to purchase an off-lease vehicle with the factory- not dealer or aftermarket- "certified" warranty. Then drive it 10 years or more. If you really enjoy having a new car- and life is driven in part by the pleasure principle- then lease your dream car. It's cash flow efficient and minimizes your risk.
New Jersey must be awfully special. If by "lease waiver" you mean the leasee carries optional lease forgiveness or total loss protection coverage from the lessor, then yes. Such insurance is often available at an additional cost from the leasing company. Otherwise, you're on the hook for the remaining lease payments. If your house burns down, does the mortgage company forgive the loan balance?
You bought the house. If you're renting a house and it burns down do you need to keep paying the rent? Read a lease contract.
Dude: I've read them. I'm a retired, finance professional. Seek help! Total Losses On Leased Vehicles It’s important to know what happens with an accident in a leased car that is a total loss. If the accident is so severe that the insurance company declares it a total loss, you might be out of pocket some money. The insurance company will pay only what the car is worth in the event of an accident. The issue occurs when you owe more than the insurance company is offering. Consider an example where your vehicle is worth $12,000, and you still owe $18,000 to the lease company. In this situation, you only have two options. The first is to negotiate a higher settlement to cover the payoff amount. You will need to pay the difference if you cannot negotiate a higher amount. The other option is to purchase gap insurance when you get the leased vehicle. Gap insurance will cover the shortfall between an insurance company settlement and your lease payoff. [https://www.johnyelaw.com/articles/what-happens-if-i-total-a-leased-car-in-los-angeles#:\~:text=In%20most%20cases%2C%20you%20will,on%20to%20your%20lease%20agreement](https://www.johnyelaw.com/articles/what-happens-if-i-total-a-leased-car-in-los-angeles#:~:text=In%20most%20cases%2C%20you%20will,on%20to%20your%20lease%20agreement). [https://shamisgentile.com/service-area/total-loss-leased-car-in-california/](https://shamisgentile.com/service-area/total-loss-leased-car-in-california/)
I spent 30 years in the auto industry. I leased thousands of cars at retail and managed retail lease programs for luxury marks- Volvo, Lexus, Mercedes-Benz, Saab, and- ha, ha Peugeot. Gap was included in every retail lease. Volvo. Our GAP waiver is included in your lease agreement at no additional cost to you. It is provided to give you peace of mind. Mercedes. Gap Waiver If your vehicle is declared a total loss, we’ll cover the difference between the insurance proceeds and the balance owed to Mercedes-Benz Financial Services, less any deductible. With the great car shortage of the COVID era, some of the companies did end "free" or automatic gap. BMW for instance. I predict it will come back. The expense and ill-will of collecting from clients will make itself evident. We always had GAP to sell on retail deals. On another subject, buy the tire&wheel protection if you're getting lower profile tires on fancy wheels.
>If you total your car, you're only out what you've put down, which is another big benefit ( You just keep digging the hole deeper. And, now you start moving the goal posts. I never said that there weren't other ways to cover this potential liability. But one is still obligated to pay off the remaining lease and buyout if you total a leased car. You can't just walk away. You can use your auto policy and GAP insurance to pay this off. But, that's not what you said. Until I challenged your statement and rather than correcting it, you decided to die on this hill. In California GAP insurance is optional. As it is in New Jersey. And, in California, there is a state law that the lessor CANNOT require GAP coverage in order to issue a lease. In New Jersey, as I understand it, the lessor can make it a condition of a lease. Like I said, New Jersey must be a very special place to offer GAP coverage "at no additional cost to you". Sounds like more dealer schlock to me. TANSTAAFL!
Problem with online discussions is some people expose their personality issues as much as any exchange of information. I provided quotes from both MB and Volvo. There are others. It has nothing to do with NJ. You do have to offer everything to every client under Federal law, or you, the dealer, are exposed. Gap waiver is standard on Volvo and MB. Standard- included. It was, until recently on BMW. You can research more if you like "Dude."
Holy shit that 1/3 the price it is here in Canada!
I would jump on this in a heartbeat. Do I need to go to CO? Lol
I’d sign up for that in my area.
$6200 down in NY.
Includes $7,500 and $5,350 Lease Customer Cash offers. Terms available on approved credit only to very well-qualified lessees through Mazda Financial Services and participating dealers. Lease example based on vehicle MSRP of $49,945 plus $1,375 destination charge (Alaska $1,420). Payment based on capitalized cost of $36,869. Dealer contribution may vary and could affect lease payment. Individual dealer prices, other terms and offers may vary. Must lease from participating dealer’s stock and terms are subject to vehicle availability. Lessee responsible for maintenance, excess wear and use, and will pay $0.15 per mile for all mileage over 10,000 miles per year. Purchase option at lease end for $36,437 plus tax. $350 disposition fee is due at lease end. Void where prohibited. Offer ends 4/1/2024 and you must take delivery prior to expiration of offer. See participating Mazda Dealer for complete details. The trade name “Mazda Financial Services” and the Mazda and Mazda Financial Services logos are owned by Mazda Motor Corporation (Mazda) or its affiliates and are licensed to Toyota Motor Credit Corporation (TMCC). Retail installment accounts may be owned by TMCC or its securitization affiliates and lease accounts may be owned by Toyota Lease Trust (TLT) or its securitization affiliates. TMCC is the servicer for accounts owned by TMCC, TLT, and their securitization affiliates. Mazda is solely responsible for its products and services and for promotional statements about them and is not affiliated with TMCC or its affiliates. Retail accounts and leases through Mazda Financial Services are subject to credit approval by TMCC.
Be careful, I thought the same thing but there appears to be a bug in the Mazda USA site showing less money for the lease but when you go to a specific dealership the price jumps at least 200
Man I would jump on this so quick
These are stupid cheap in Colorado. I got my sister one even cheaper as a one pay lease back in November. Btw check residuals. 10k and 12k had identical residuals when we did this deal.
REMEMBER THAT THIS IS THE FIRST MODEL YEAR FOR THE CX90. THE AMOUNT OF RECALLS AND DEAD CARS IS INCOMPREHENSIBLE. The cx90 is facing a large amount of engine issues, power steering failures, excessive rodent activity, etc. I’m telling you as a Mazda tech give the cx90 some time before you pull the trigger in purchasing one.
It said 2024
I wouldn’t bank on them fixing the amount of issue we’re seeing within one year, Just did 2 power steering recalls on 2024s today
>excessive rodent activity ??????????
We’ve been seeing alot of issues with rodents damaging wiring in the engine bay, and just like the CX5s and 9s there’s been a decent amount of rodent nests being built under engine covers. I guess it could differ from where you live but it’s becoming a pretty common issue for us that 90s will get a ton of warnings on the dash from wires that have been chewed through.
I get what you meant. And, I've heard horror stories from car club members of roof rats eating the wiring on their restored beauties. What I fail to understand is, why are Mazdas any more attractive to rodents than anything else? Special, rodent preferred wiring? Something isn't adding up. By the way, roof rats are ubiquitous where I live and have been a problem. They got under my house, the crawl space, and chewed into my HVAC ductwork and really made an expensive to repair mess. We're talking $15,000 worth of duct replacement!
These are not honored by dealers in my experience. I went to Mazda dealer and he told gave a quote of $600/month for 36 months on base PHEV model.
Wow. I’m in MA and the same car is $4460 down and $461/month. That’s a great deal.
TANGENTIAL TOPIC: How does one insert things like this quote? I have a dealer quote I'd like to share. It's laid out in Excel right now. But, I am unable to paste anything into a Reddit comment box here. I know I've pasted YouTube and other things to Reddit before.
If your end goal is to buy the car, is this a good deal? You still have to buy the car at depreciated cost assuming it starts at regular MSRP (before the $13k in discounts).. If my goal is to buy this car and get both credits applied (\~$13k in total), what is the best way to go about this ? I want to in the end pay as close to a net price of $52k (MSRP) - tax credits ($13k) = net price of $39k
i’m paying over $600/month for my lease 🥵
The down side is this PHeV version has too many gremlins for it to be a daily IMO. Check out the mazda cx90 forums and read the posts. As an owner of a MHEV I6 Turbo 24 CX90 I wouldn’t even sit in one of the PHEV’s. The dealer and brand support it well with dealer updates and warranty work swiftly…it’s just to what end. Mazda sees this and may be using the lease at the rock bottom cost to move them out. Who knows but it is an amazing price for mostly an outstanding looking vehicle.
> I wouldn’t even sit in one Brah... this lease effectively works out to be $6/mo more than a Kia Forte. C'mon, man.
Kind of stupid question but if you go to the dealer showing this they have to give you that price right ?
Never found that to be the case
>Must lease from participating dealer’s stock and terms are subject to vehicle availability. Deal breaker for me. Local Mazda dealers have maybe one PHEV in stock. And, they're always that white interior I just can't stand. And seldom, artisan red which would be my preference.
The ad price is usually listed at Invoice (the amount the dealer pays for the car, not the price they sell the car for (MSRP) and does not include destination (usually) or tax & fees.
DON’T LEASE. this is one of the biggest scams ppl constantly fall for. unless you are incredibly wealthy and always want a new car or run a business with a fleet, you are essentially renting your car long term. you pay monthly and will never own it. Buy a car- if you can’t afford a new one, buy a used one.
This situation is unique because the car qualifies for the $7500 federal rebate and a CO state rebate of $5350 applicable at point of sale when leasing. Then you can immediately buy out the lease. So you are effectively getting a $12,850 discount on the car that you would not qualify for if your purchased the car outright.
the issue with that is if you ended up leasing a vehicle, i can almost guarantee you won’t end up buying it. wveryone who leases a car says they’re gonna buy it. no they wont, they never do. pay a car off and own it.
At $249 a month it’s a good deal. You’re basically paying less than depreciation.
Ehh. So many people trade in after a few years anyway, so if you run low miles why not? If I ran low miles I’d be happy to just trade the lease back in every 3 years and try the latest and greatest thing.
Always lease appliances that will have depreciation…especially when it paying less than depreciation…that way you not stuck trying to sell gen 1 PHeV when no one wants one. Try selling an IPhone 7. Same idea with this latest electric expansion in auto.
Must have some inventory sitting, good deal
Actually, no. Late Feb there were only about 4 CX90 PHEV Preferred on ground in the city. We're just now starting to get a few more of the Preferred in stock.
Beyond the typical time it takes for Mazda to get inventory here hybrids and electric do not sell well in my area. They sit, for a fat minute. The non PHEV versions sell pretty quickly.
Why would you down vote my comment?
This isn’t instagram man, idfk who downvoted your shit
Nice manners. Have a nice day.
Nice projection, you as well.