Looking at Mazda CX-5 - Leasing Questions

[bdaoust]

Hello everyone:

Looking at a 2015 Mazda CX5. I wish the infotainment center on this car was better - that is the only thing that is making me wonder if I should wait for 2016 models. I'm a techy guy and that category was lacking with this car.

Anyway, I was asked to consider a lease. Never leased and I understand the basics. I'm renting the car essentially. They told me they make money on the car by selling it used.

Can anyone tell me what to be careful of when it comes to a lease in terms of fine print and specifically, Mazada's terms? I mean, I know I need to stay within the miles, but are there any gotchas? For instance, if I don't do maintenance at their locations? What maintenance do I need to do regularly? Just oil changes?

With my car (2009 Hyundai Elantra Touring 75,000 miles) they are offering me to lease a 2015 Touring for $188 a month for three years.


Thanks
-B

 

[paris1]

Call me old school, but you're giving up whatever equity you have in your trade plus $6768 in payments over 3 years at the end of which you'll have absolutely nothing to show for. I would never lease a car unless I could write the whole thing off for business.

 

[erhayes]

When I ran the numbers, a lease never worked for me. ed

 

[socalcx-5]

Don't let them talk you into a lease just because the monthly payments are lower. Everyone's situation is different, but generally leases are good for people who:

a) as someone mentioned above, own their own business and can write it off on their taxes
b) have very little cash on hand and/or
c) have a life/financial situation that is going to change drastically in the near future
d) really just have to have a new car every 2-3 years and don't mind ALWAYS having a car payment

if you're at all in the d category, I would advise against it.

 

[Dr_Watson]

I leased my cx5, never done it before on my previous cars.

Interest rate was much lower than any bank or finance company.

After 3 years the final payment to allow me to own the car is very low (double the month payment) so there are no many negatives doing it that way.