Automotive

2018 CX5 Lease - Questions

  • Last Updated:
  • Aug 14th, 2018 3:21 pm
[OP]
Newbie
Dec 18, 2015
22 posts
19 upvotes
Port Coquitlam, BC

2018 CX5 Lease - Questions

Never done a lease before, usually finance but then trade in right at end of term. Thinking about doing 36mth lease on CX5 GT, looks around $600/month. When I go to sign the paperwork are there gonna be any surprises, added fees? And is there any other similar vehicles I should be looking at? Ways to get a better deal?
3 replies
Deal Addict
Jan 15, 2017
1740 posts
1184 upvotes
Any added fees depend upon the particular dealer and business manager. Have you started negotiating the price of the vehicle yet? Leasing is not much different than buying. You negotiate the purchase price of the vehicle and the lower the purchase price, the lower your lease payment.

There are all kinds of extra services that you can add to the price. Things like interior protection, security etching, lease return protection, life insurance... Find out what these are and whether any are needed in your particular circumstances.
Member
Oct 4, 2010
355 posts
98 upvotes
Surrey
Get the quotes from Mazda first. just play around with the terms to see how much you need to pay per month. Then compare with what the dealership offers you and you'll know what they added on top of your internet quote.

Don't get sucked into the 'weekly/biweekly' payment amounts. They sound less, but end up being more monthly. If you are determined to pay monthly, then just stick to monthly amounts for comparison.

- Don't lease car past the warranty term
- Don't put down a down payment to reduce your monthly fees
- If you total loss your car, you lose your down payment
- the buyout amount at the end of the term is fixed by Mazda and is non negotiable.

Once you settle on the monthly payment offer, be sure it's the all in price. Otherwise, they will sneak in fees afterwards. The business manager tried to do that by adding in a '$300 lease service fee' when I leased. We called the salesman in, and he confirmed all fees are included in the monthly lease payment so nothing more should be added.
Deal Fanatic
User avatar
Jul 12, 2003
9267 posts
1835 upvotes
Markham
My sales advisor email me the final deal with all the fee and such shown on the sales quote (after the first visit to the dealership). If I agree to it, I just go sign the deal in person base on what's show on that sales quote.
Read that paper carefully and ask if you are not sure the fee is for.

Generally, Freight & PDI, AC tax, and License fee is a must on a brand new car.
Some dealer charge for admin fee....fuel charge, wheel locks. etc.....it varies dealer by dealer rather they will waive it or not.

The protection plan or such, it is up to the leasee rather you want to buy it or not. It is a lease, so you don't need the rust proof, extended warranty on it, the only thing worth considering is the Lease protection plan that cover the dents, light scratches. windshield dent, rims scratches, etc. It is basically a peace of mind that you don't have to worry about if you returning the lease and has dent and scratches on it. Otherwise, you may have to fix it before returning or they can charge you a penalty. All those are written on the lease agreement that you will have to sign and initial it.
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