Saving Strategies in the Mazda CX-5: Expert Tips for 2024

Published on August 27, 2024By Laura M. (Contributor)

Mazda CX-5: The Mazda CX-5 is long a top-rated compact SUV owing to its handsome styling, fun-to-drive spirit and decent interior quality. The 2024 lands in showrooms, and reversal customers are waiting for ways to achieve this already budget-friendly automobile. If you are in the market for new, perhaps considering a lease or want to explore financing options there are quite a few strategies that can already be employed to maximize your savings when it comes time buy Mazda CX-5. Now, here is a look at professional guidance on the best potential costs of 2024 Mazda CX-5.

1. Timing Your Purchase

When you buy a new car, timing can make all the difference in how much you have to pay for it and the Mazda CX-5 is no exception.

Year-End Sales: Around New Year's, dealerships are usually trying to hit year-end sales goals or clear off their lots. Dealerships will be running big year-end promotions and incentives — December is one of the best times to buy.
New Model Year — When a new model year comes out, dealerships want to sell as much of the old inventory as possible. If you can wait, the 2024 CX-5 is worth considering since it remains in showrooms next year and buy a 2023 model -- being less fussy about having access to all of this tech. The outgoing model often comes with huge savings
There are holiday sales events such as Memorial Day, Labor day, Black Friday Or 4th of July promotional sale. These tend to include extra savings and low-interest financing deals that will make your CX-5 even more affordable.

2. Use Factory Incentives

Mazda often throws in a ton of incentives to keep inventory on the move, particularly with hot-selling vehicles like the CX-5.

Cash Rebates: Mazda frequently offers cash rebates on new models. These rebates are able to reduce the cost of purchasing a vehicle drastically. Make sure to ask the dealer about any available rebates or special offers.
Low-Interest Financing: Mazda might offer interest rate as low 0% APR for special qualified buyers during a specified period. You will also save money on interest over the life of such a long loan if you choose to finance through Mazda's official channels rather than traditional bank loans.
Loyalty or conquest bonuses—If you are a repeat Mazda customer, for example. On the flip-side, coming from a competing brand may make you eligible for what is known as a conquest bonus that are made to entice new buyers. These bonuses can lower the purchase price or monthly lease payments.

3. Choose Suitable Certified Pre-Owned (CPO)

This is a great way to save money in lump sum if you can't quite afford something brand new but still want it to feel that way or, better yet, for your business-side of expenses when renting(offering) out vehicles.

A lower purchase price: CPO vehicles generally cost much less than new cars, but they include many of the same advantages — including a manufacturer-backed warranty and thorough inspection. So a CPO CX-5 is the best of both worlds: big savings corrected by peace of mind.
Extended Warranty: Mazda dealers have a 7-year/100,000-mile limited powertrain warranty and offer you the option of two different CPO bumper-to-bumper warranties. While this extra coverage would likely cost more if you were to buy it separately, having the original warranty extended over a CPO vehicle can save money down the road for potential repairs.
Depreciation Savings: New cars eat a ton of loss within the first few years, but this happens rarely with CPO vehicles. Which also translates to more, for less and a vehicle that holds its value really well over time.

4. Optimize Your Trade-In

Use any vehicle trade-in you have, for an even greater discount on the price of your new Mazda CX-5.

Know the Value of Your Trade-In: You should know how much your trade-in is worth to begin with by looking at current fair market prices on sites like Kelley Blue Book or Edmunds. When you know what your vehicle is actually worth, it allows room for leverage in sales discussions.
Separate Negotiation — To get as much of a discount on your new CX-5, you should negotiate the two things (trade-in + purchase price) separately. By doing this, you are guaranteed to receive the lowest price on both exchanges.
Trade-In Bonuses: Many dealerships are also offering additional trade-in bonuses based on factors such as trading in an older car or switching brands. This financial incentive makes it easier for you to buy something new, so read on.

5. Explore Lease Deals

Leasing a Mazda CX-5 is an appealing alternative if you like to change cars relatively frequently and would prefer having lower monthly payments.

Find Lease Specials: Mazda dealerships may feature lease specials with reduced monthly payments, lower down payment amounts or no money up front costs at all. With these, leasing might actually be cheaper than buying new.
Background Note: You can negotiate the Lease Terms Unlike when you buy — with a lease, terms are negotiable. Look at the capitalized cost (the vehicle price when you lease), money factor (analogous to an interest rate) and residual value (what the car will be worth after your lease mischief is over). The most significant way to lower your monthly lease payments is by lowering the capitalized cost and money factor while making sure that residual value remains high.
Think About Mileage Limits: Regular leases also come with a mileage limit, generally 10k or12k miles each year. If you drive less than that, even lower payments may be available if a mileage limit of an appropriate amount can be negotiated. Alternatively, if you drive more than average request for a higher mileage limit so that there are overage fees.

6. Negotiate the Purchase Price

All Mazda CX-5s are negotiable when it comes to the purchase price, so if you're committed and drive a hard enough bargain (starting from manufacturer or dealer recommended savings), why not nip your 2.0 diesel CX-3 in favour of something at least sourced from Japan? How to make sure you get the best deal:

Utilize if Possible Pricing Tools:- You can utilize online tools by the likes of TrueCar, Edmunds or Cars. com>): This can provide you with some idea on what buyers in your area are paying for the same model. Also, this type of information provides you with a solid foundation for negotiation.
Multi-shop: do not shop at one dealership. If you can, get quotes from other dealerships and leverage that with your local dealership for a better deal. Share the quotes you have with different dealers and they might match or beat an offer from a competitor.
As the name implies, low monthly payments are attractive but be wary of spreading out a loan over too many months which will lead to higher interest. Get the price of your entire vehicle negotiated before you talk about dirty tips and tricks, take figure.

7. Get your bank or credit union involved

Dealer financing can be handy, but you may want to check your bank or credit union for a loan that offers better rates.

Pre-Approval – This means you need to have pre-applied for a loan before heading towards the dealership. This not only provides you with a figure in mind for your outlay but also puts you in a better negotiating position, as effectively cash buyer.
Compare Rates — Compare the interest rates and terms available from your bank or credit union to those offered by dealerships. You can save a lot of money in life differences from loan to loan.

Conclusion

2024 Mazda CX-5 is a stylish, performance-oriented and range-topping crossover. With careful purchasing timing, manufacturer incentives, CPO availability and smart negotiation tactics you can take full advantage of potential savings for this top-selling SUV. These expert tips will help you get the best deal possible on your Mazda CX-5, whether it's new or used, leased or a certified pre-owned vehicle—as well as make sure that confidently strolling off into even more money in your pocket.