Buyout my CX5?

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2019 CX5 Touring/Preferred Pkg
Hi all,

It’s that time again and my lease is almost over. Judging by the lack of cars on the lots and almost every dealer charging over MSRP - I’ve been thinking should I just buy out my CX5?

It’s a 2019 model, touring with the preferred package. I love the car, the color and everything however I’m just at a point where I want a new car just because the past 3 cars have all been lease and also because I’ve been kicking myself for the past 3 years for not getting the turbo model.

The buyout price is $18.3k and I have approximately 30.5k miles on it. I’ve had the condenser replaced under warranty a few months back. The vehicle is in pristine condition, the soul red still shines like the day I picked it up. All regular Maintenance has been done (oil change every 7.5k miles).

I’ve extended my lease for another 6 months in May set to expire in November but by then I don’t think cars will be selling at or below MSRP again.

At this point, what would you do?
 
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20 CX5 Sig
Heck ya, buy it out...then sell it or trade it in if you really want to change vehicles. Check out Carvana for a quote...my guess is they'd give you 22-24k for it. (I love Soul Red!)
 
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Southwest Ohio
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'19 CX-5 diesel
Probably lots of 2019 coming off of three year leases these days. Bought before the world fell apart with pre-crazy buyout terms. Cash in on that.

Another nice thing besides the math of the numbers is that if you own it then you're not gonna be pressured by some arbitrary "lease end" time constraint. You can pick and choose the deal you want to upgrade to a turbo model at just the right time.
 
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2019 CX-5 Signature
You should have bought it out instead of wasting more money on extending the lease. I hope they didn't change any terms on you after the extension. You're probably several grand on the plus side right now.
 
Hi all,

It’s that time again and my lease is almost over. Judging by the lack of cars on the lots and almost every dealer charging over MSRP - I’ve been thinking should I just buy out my CX5?

It’s a 2019 model, touring with the preferred package. I love the car, the color and everything however I’m just at a point where I want a new car just because the past 3 cars have all been lease and also because I’ve been kicking myself for the past 3 years for not getting the turbo model.

The buyout price is $18.3k and I have approximately 30.5k miles on it. I’ve had the condenser replaced under warranty a few months back. The vehicle is in pristine condition, the soul red still shines like the day I picked it up. All regular Maintenance has been done (oil change every 7.5k miles).

I’ve extended my lease for another 6 months in May set to expire in November but by then I don’t think cars will be selling at or below MSRP again.

At this point, what would you do?
I purchased a 2021.5 year cx5 turbo Soul Red. The paint quality sucks, but turbo is the way to go. Trade in for a turbo. Prices are not going to change much in my opinion. Be careful if you buy a used turbo. Users are supposed to run engine for a few more seconds before turning engine off, so oil cools turbo, else coking can occur inside turbo. Ie. The oil cooks at high heat inside turbo burning it into what looks like 'coke coal'. Watch utube video on turbo problems.
 
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2019 CX5 Reserve AWD
I purchased a 2022.5 year cx5 turbo Soul Red. The paint quality sucks, but turbo is the way to go. Trade in for a turbo. Prices are not going to change much in my opinion. Be careful if you buy a used turbo. Users are supposed to run engine for a few more seconds before turning engine off, so oil cools turbo, else coking can occur inside turbo. Ie. The oil cooks at high heat inside turbo burning it into what looks like 'coke coal'. Watch utube video on turbo problems.
Don't think you need to idle engine before shutdown anymore unless the vehicle was driven extermely hard. This advise was for older or aftermarket turbos.
In fact I don't remember seeing anything in the owners manual.
If it was a problem I'd expect Mazda to put it somewhere in the manual where it stands out or a label on the dash.
 
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N. California
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2022 CX-5 SG
What changes did Mazda make to the 2022 CX-5 for yours to have a .5 designation?
 
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Phoenix
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2021 signature
While you'd probably make more money buying it out and selling it yourself, for ease, the dealers now are also buying it out from you and writing you a big check too. They'd rather have teh car back themselves to resell
 
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18 Mazda CX5 AW
If you want a CX5, buy out the lease.

If you want a completly different vehicle like a Toyota or bmw, then probably better to buy it out then trade/sell it.

Dont let the dealer profit off them twice.

Unless you get them lined up to get you another 3 year old cpo with an extended 7yr/100,000 mile warranty at a good price for your trade.

Or a New 2022 at less than msrp for your trade. Do the math and see if its better to buy out the lease then give it back. It most likely is.

However, they always try to maximize profit. Either give you alot for trade but sell at more than msrp. Or sell New car at slight discount but lowball your trade.

Most of the dealerships profit was built in upfront on the lease... They get it back and then resell it at a nice profit. Win win for them. If you keep and buyout at this point it is better for you then them.
 
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N. California
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2022 CX-5 SG
You can download the user manual. Reverse auto braking, bigger 10.5" screen and few minor software etc upgrades. Android auto etc
Bigger screen came in 2021 in the N. American market. What country are you from?
 
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N. California
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2022 CX-5 SG
Understood, I was confused when you initially stated that yours was a 2022.5 before you edited it to a 2021.5 model. Mazda Canada does market their models differently than Mazda USA, although all our 2022 CX-5s received the biggest upgrades.
 

Bird-Dog

2017 CX-5 Touring 2020 CX-5 GTR
You can trade it any time, while the lease is still running, just like you can with traditional financing that you're still making monthly payments on. A lease is essentially just a way of financing with a balloon note on the end (the residual), though with the option of giving them the car at the end instead of paying off the remaining value.

If a leased car has been taken good care of, in most cases, especially right now, even the trade value will exceed the buyout as you approach the end of the lease. And just as with a car with finance payments still remaining, the dealer taking the trade will handle the buyout/payoff. Residual values are set up to ensure there's profit left in the vehicle for them if you turn it in and walk away at the end instead of trading it or buying out the lease. That's equity for you, if you handle it properly.

OTOH, if a leased vehicle isn't in great condition they're going to ding you with additional charges (read your lease!). Whereas, if you're trading it, you can negotiate the trade value without concern for the lease penalties, even on a clunker.

I've leased cars regularly since the 1980's and never, not once, have I ever just turned in the key instead of either trading it or buying it out, often 2 or 3 months before the end of the lease. Otherwise, you're leaving money on the table and having to go out-of-pocket with money down on the subsequent lease/purchase.

My own current story is: We leased a new GTR for my wife June of 2020, in the midst of the pandemic when dealers were really struggling to sell cars. Got a heckuva deal because of the timing. They even had the car shipped in from out-of-state to get the color and trim she wanted. That lease is coming due next year, and we plan to buy it out.

As it turned out, my wife began working from home"temporarily" and that's worked out so well her company has made it permanent for her and some others who handled WFH productively. No more commuting! And when we go out it's usually in my car. So, that 2+ year old CX-5 has all of 2,500 miles on it, and should have no more than 5,000 at the end of the lease even if we do some vacation traveling in it. So you can bet we plan on keeping it!

But the rest of the story is: She had a 2017 CX-5 before this one, coming off-lease around that time. We decided to give it to my son as a graduation gift. So, we arranged financing to buy out the lease through a credit union she keeps an account at, putting $100 a month in, just to build up a down-payment fund for future car purchases/leases. And we did that just before signing the lease on the new one in order to clear it off Mazda's books.

As it turned out, I learned something I did not know, even after decades of buying out leases. That hidden gem is this: When we sat down with our salesman on the new Mazda and told him about that buyout, by way of explaining why we weren't trading-in the 2017, he told us he could have handled the re-fi and gotten us at least $1,000 off the buyout, if not more, for running the financing on it through Mazda (actually Toyota Financial Services now).

So, the plan for next year is to meet with him again as the lease is coming due to arrange financing and negotiate a reduction on the buyout figure. I suppose, if they want to make us an offer we can't refuse, maybe we'll look at a new CX-5 or CX-50 instead. But it seems a shame not to take advantage of the low mileage, comparatively low residual remaining at that point, and (presumably) tremendous amount of equity in the CX-5 she has that she absolutely loves just the way it is.

TL;DR - Never simply turn in a leased car. There are better options.
 
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Phoenix
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2021 signature
Not on a lease, unless you buy from a different manufacture.
Yes on a lease. When I was buying my 2021, the F&I manager had a current lease customer on the phone, her lease was not yet over and he was buying back the car and writing her a check for $4,000
 
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2019 CX-5 Signature
Yes on a lease. When I was buying my 2021, the F&I manager had a current lease customer on the phone, her lease was not yet over and he was buying back the car and writing her a check for $4,000
Well, I know actual people that were denied a higher buyout than what's in the contract. I didn't just overhear a conversation. :)

What they are doing though, is taking the car and selling it back to the person after they "certify" it for $1k+.
 
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South Carolina
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12 MZ5 13 CX-5
What they are doing though, is taking the car and selling it back to the person after they "certify" it for $1k+.

That's illegal in almost every state. People don't generally know this though, so nobody calls them on it, and so they get away with it, a lot. It's bulls***, but so is the entire dealership franchise model here in the 21st century.

There was a news report that a local station in Florida that I watched that got a dealer in a ton of hot water, and they were forced to refund tens of thousands of dollars to unsuspecting victims.