LEASING

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MAZDA FINANCIAL SERVICES

Benefits of Leasing

  • A new car more often: With payments spread out over a shorter period of time, you can drive a new vehicle more often.
  • Low monthly payments: Lease payments are traditionally lower than retail finance payments on the same vehicle.
  • Only pay tax on the monthly payment (vs. paying taxes on the full purchase price of the vehicle when you finance).
  • Mazda Financial Services does not charge any vehicle disposal fees.
  • Flexible terms up to 60 months on select models.
  • Keep more cash to use or invest.

End of lease options

  • Lease or finance a new Mazda and qualify for our Owner Loyalty discount.
  • Finance a Certified Pre-Owned Mazda and qualify for our Owner Loyalty discount.
  • Purchase the vehicle for a predetermined price shown on your lease contract plus applicable taxes and fees.
  • Return your vehicle.

To lease or finance a new Mazda or finance a Certified Pre-Owned Mazda, you must first return your current vehicle and have an inspection completed.

 

Inspection

During the final 45 days of your lease, you will be contacted to arrange an inspection of the vehicle. The inspection will be performed by an independent inspection company at no cost to you. Following the inspection, you will receive a detailed condition report with the estimated charges for excess wear (if any). At this time, you have the opportunity to repair your Mazda prior to maturity. Should you repair your vehicle at your Mazda Dealer, no further inspection will be required. If you choose to have your vehicle repaired elsewhere, then a second inspection will be required at your expense. Please use our Wear and Tear Guide to help you assess any excess damage to your Mazda.

If you purchased Mazda Appearance Protection Insurance when you leased your Mazda, please familiarize yourself with your rights and obligations under that coverage. To ensure that you receive the full benefit of returns under the policy, we recommend that you contact your dealer to arrange for a preliminary visual inspection where any covered wear conditions can be corrected prior to the final vehicle inspection.

To purchase your Mazda

We can see how it would be difficult to part with your Mazda. If you decide to keep yours, you can purchase or refinance your current vehicle for the predetermined price shown on your lease contract plus any amount outstanding on the lease, applicable taxes, safety inspection costs, environment fees and ownership transfer fees. To purchase your Mazda, simply visit your Mazda dealer to arrange for payment through the dealership.

For additional information, please contact Mazda Financial Services at: 1-888-703-8857.

Frequently asked questions

  • WHAT ARE THE ADVANTAGES OF LEASING?

      • Lower monthly payments, because only the vehicle's depreciation plus interest charges are being paid for rather than the full purchase price.
      • Drive a new car more often.
      • Drive a more expensive vehicle for the same monthly payment as a loan.
      • Business owners can use part of the lease payments to deduct from their business income for tax purposes.
  • WHAT IS THE DIFFERENCE BETWEEN AN OPEN- AND CLOSED-END LEASE? WHICH ONE AM I SIGNING FOR?

    • Open-end leases: Residual values are determined at lease termination. The lessee takes all the financial risk because the lessee is responsible for paying any difference in the residual value and the actual value of the vehicle at the end of the lease.

      Closed-end leases: Residual values are known at lease inception. The Mazda Lease Program is only offered as a closed-end lease program. Therefore, other than returning the leased vehicle at the end of the lease, the lessee is responsible for excess damage or mileage charges.

  • WHAT KIND OF ADMINISTRATION FEES, IF ANY, DO I NEED TO PAY THROUGHOUT THE LEASE TERM?

    • If the Lessee decides to terminate the lease, there is no applicable Administration Fee should the Lessee decide to terminate the lease early. Please note that the minimum lease term is 12 months. Pro-rated excess mileage as well as any costs related to excess wear and care may apply.

      If the Lessee decides to extend the lease, the maximum term for extending a lease is 30 days, and a $200 Lease Extension Fee (plus applicable taxes) applies.

      If the Lessee decides to proceed with a Lease Assignment (also known as a Lease Takeover), a $350 (plus applicable taxes) Lease Assignment Administration Fee applies.

  • ARE TAXES INCLUDED IN MY MONTHLY PAYMENT?

    • Yes, taxes are applied on the monthly payment. Unlike loans, taxes on leases are applied on the usage portion (depreciation) of the vehicle during the term of the lease. However, for loans, taxes are applied on the entire price of the vehicle.

  • WHO IS RESPONSIBLE FOR INSURING THE VEHICLE?

    • The Lessee is responsible for insuring the vehicle. The insurance endorsements need to have Canadian Dealer Lease Services Inc. as the Lessor and The Bank of Nova Scotia as the Lien holder.

  • What are my options at lease maturity?
    • The lessee has an option to either: lease or purchase a New or Certified Pre-Owned Mazda vehicle, purchase the vehicle at the end of lease term residual value, or return the vehicle to the originating Dealer.

  • What must I do when I return my leased vehicle?
    • Someone from Autovin will conduct a vehicle inspection close to lease maturity. If neither reconditioning nor excess mileage charges are needed, the lessee will return the vehicle to the originating Dealer.

  • What is my mileage allowance?
      • Standard lease = 24,000 km/year.
      • Low kilometre lease = 20,000 km/year.
      • Ultra-low kilometer lease = 16,000 km/year

      Excess mileage can be purchased up front for standard leases (24,000 km/year) for all Mazdas for $0.08/km, except the CX-9, which is $0.12/km, plus all applicable taxes.

      Excess mileage will be assessed at the end of term for all leases (both standard and low kilometre leases), and is charged at $0.08/km for all Mazdas except the CX-9, which is $0.12/km, plus all applicable taxes.

  • What is the lease-end value? Would I ever have to pay anything above the lease-end value?
    • Lease-end value (residual value) is the value of the vehicle at the end of lease. The lessee has the option to purchase the vehicle at the end of the lease term at the residual value plus any amount outstanding on the lease, applicable taxes, safety inspection costs, environment fees and ownership transfer fees. To purchase your Mazda, simply visit your Mazda dealer to arrange for payment through the dealership.