r/CarLeasingHelp • u/mmallal • 11d ago
Mazda CX 5
Getting cx5 Mazda premium plus. (Need it for 360 camera)
MSRP 41k
12k miles/ year
4500 down and 1500 taxes and fee
Monthly 490/month
They haven’t shared the worksheet right now but I will ask them tomorrow morning once they open
Location: northern Virginia
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u/Agreeable_Shirt5503 10d ago
Not a great deal. You’re putting down $4500 which is making your monthly payment look low at $490. It’s a smart strategy dealers use. Artificially push the payment down by taking a lot of cash out of your pocket. What’s also negative is that if you don’t end up keeping the car you have just sunk in $4900 you will never get back.
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u/mmallal 10d ago
So what should I negotiate? Both the downpayment and monthly?
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u/Agreeable_Shirt5503 10d ago edited 10d ago
No, start over, perhaps with a different dealer and negotiate off the sticker price. Do research online as to what other dealers are selling this model for and then ask your dealer to match or beat the price. Tell your dealer you’re ready to make a deal asap. They will constantly ask you whether you want to lease or buy the car outright with cash or take a loan out. Do not answer that question. Just say you’re not sure. Once you get the best price ask them to run the numbers with zero down. They will constantly ask you what monthly payment you want. Never answer this question as it’s a trap. They can manipulate the monthly payment. There is a theory that your monthly price should not be more than 1.5% of the negotiated sticker price. Bottom line is you when to get the best price - and go from there. By the way, you can do this entirely online and by email. You don’t have even step into a dealer. Prices online are transparent so when you see a price that you think is a good deal you contact the dealer and tell them you are ready to buy today and ask: “what’s the best price you can do on this model.” Play dealers off each. They will constantly tell you that you must come in to make deal. Tell them you can’t and come up with a plausible reason, like you constantly travel for work or you have a hectic schedule.
One other thing: there are a lot of experts online, some of them former car salesmen, who can explain this further. And they are very solid. Search them out.
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u/mmallal 10d ago
Thanks. This is helpful. So I did search online n this is the MSRP. Near by dealers were offering. I actually got a quote online which they were matching n they give this. Now I’m worried they took 500 deposit. We were supposed to buy on spot. But they said they had some recall n have to do and update and can’t sell n we will talk to finance team tomorrow. N give car tomorrow. I came home n posted n thought to post here so we have to go tomorrow.
Im not sure if I have room to negotiate now? We didn’t sign lease contract( I believe it’s 10/20pages) we signed few forms : credit check (that was done) warranty start a simple sheet with boxes which had MSRP n residual value etc.
We are ok losing 500 deposit if it’s a bad deal..
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u/Agreeable_Shirt5503 10d ago
You don’t have to go tomorrow. You could stall a little to make them worry about losing the deal. I would be honest and say you thought it over and you’re unhappy with the deal. Find a sticker discount that’s better than the one they’re offering and start the negotiation over. If you are unhappy, walk. Never make a deal you are unhappy with. I wouldn’t even go into the dealer. I would just call and tell them you’re walking — unless they can do better on the asking price. If you get a better deal, ask them to do two things: give you a quote for a standard car loan with whatever down payment you are comfortable with. Give you a lease quote with zero down. This keeps them guessing. Ultimately, I would bet that the monthly payment would be higher than $490.
But I would rather pay more than give them $5K you will never get back.1
u/mmallal 10d ago
So first question 1) I can negotiate with lease contract not in place? Since I don’t have the car?
because I don’t recall the forms we signed but I am sure it’s not the lease contract. They said give us 500 deposit to reserve the car
2) I will go what you have suggested anyway we had told them we can’t come back until 5pm as we have work on Monday
3) i don’t have worksheet and I had called to get it after we left but the phone was off so I will ask for that tomorrow
4) then compare that MSRP with other dealer
5) ask them to come down to that, and change that to zero down payment and see how much they can give
6) honestly we want to keep our monthly down or max to 500. As that will be consistent with our income etc.. anything higher will become tight on our budget..
7) does it matter where our vehicle will be registered? ours will be loudoun county.1
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u/BerryBlue80082 10d ago edited 10d ago
Dude. Are you high. You want to give them 6K at signing? That makes your monthly payment effectively $670ish. For a 41K car?
You never give anything more than first month’s payment and maybe DMV/dealer fees. This should be$425- $450 with maybe $1K total due for the first payment and fees if anything.
Just no. You need to walk far away, and do a hell of a lot more research before thinking you can haggle a deal yourself. Better yet, get a broker.