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Prices Paid: Buying & Leasing Experiences Mazda6 Prices Paid and Buying Experience
1753 messages, Last post on Aug 27, 2008 at 9:48 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I actually leased it last night from Montgomery Mazda in Charlotte, NC. Great, super easy buying process (I had called ahead for their best price). Here's the details: Mazda6i Sport Value Edition Auto MSRP $21,125 Negotiated price $15,988 Total cap cost $17,291 Residual $11,618 Base monthly payment $209.35 + $6.28 (tax) = $215.63 This is a 36-month, 12,000 miles per year lease with $0 down and $0 security deposit. I love my 6 so far! Best of luck to everyone here and thanks for all the tips and advice I received!!! |
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According to my calculations, that's the amount it'll cost for the 36 month lease. Being totally unfamiliar with leases, is the residual figure what you'd need to pay the dealer after the term is up to purchase the car? Don't quite understand why most people lease in the first place. The only advantages I can see is a car always under warranty and the ability to just walk away at terms end. What am I missing here? By the way, liked the seating better in the 6 than the 3s that the wife ended up buying in '05. The Sandman 
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Replying to: sandman46 (Jun 21, 2007 3:35 pm) The only advantages I can see is a car always under warranty and the ability to just walk away at terms end. Plus, if you consider that residual as unrealistically high, then you are even farther ahead..
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Replying to: kyfdx (Jun 21, 2007 4:11 pm) There is a tax advantage (which is touted to the max by salesmen) to the lease if you use the car for business, but this may be (largely?) negated with the average mediocre lease deals. I'm not saying there aren't deals to be had, but you have to do it the right way. --jjf You just answered your own question... The only advantages I can see is a car always under warranty and the ability to just walk away at terms end. Plus, if you consider that residual as unrealistically high, then you are even farther ahead |
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Replying to: sandman46 (Jun 21, 2007 3:35 pm) . If I add the monthly payments (excluding tax) and the residual, and then figure out the approximate effective interest rate based on the $16K price, I get about 7.5%. That seems like it's in the range of the market rate for car loans. The difference is that you are spending more on interest because the interest is on a larger balance than with a purchase. If you end up buying, it is as if you had a loan with a large baloon payment at the end. Really the only advantages are a lower monthly payment and a guaranteed trade in value, because if you want your car to always be under warranty you can do that by buying a new one every 3 years/36K mi or by purchasing an extended warranty.
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Replying to: jeffyscott (Jun 22, 2007 5:31 am) The lease bank is taking all the risk on future value, not you. In the case of the 8, resale and trade values are in the toilet. If you had purchased the car and financed you would be upside down a long time on the car. With the lease, the car may not be worth the buyout at the end - so you just turn it in and walk away. The 8 may be the first car I have ever had to turn in, in all my other lease deals I managed to find someone to buy my car at or before the lease was up. I made anywhere from a few hundred to a few thousand depending on the market and the car. The key to any deal - lease, loan, or cash - is getting a good price at the start, then getting a good finance package (if not paying cash). If you get the car cheap with cheap money, you will usually come out OK. The other thing "lease haters" don't get is the freedom of no trade in. I go get my new cars at cheap prices with no trade worries or hassles. Folks that hate (don't understand) leases probably also get ripped on their trade each time. If you do not sell your old car yourself, you are losing money - and most folks do not. So even if the lease cost is MORE than buying, losing thousands on your trade later will make that up. Dennis |
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I know it's not the best deal in the world, but we purchased an 07 Mazda6 HB SVE auto 4cyl for $19k after rebates and negotiation. We might have been able to get less if we waited the dealer out a little longer, but we paid well under invoice, and it was the only one we saw in the color we wanted (Tungsten Gray). This dealer also gave us the best value for our trade. I have always found that if you go into the dealer knowing what you want intermsa of car and price, and you're patient, you will be satisfied at the end. We waited the dealer out for four weeks, and ended up very close to our goals for trade in value and price on a very good new car. Heritage Mazda in Owings Mills, MD |
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I am looking to buy the Mazda 6s with the Touring package..I was wondering what are the kind of deals that are been offered on this car. Responses are very much appreciated 
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Just picked up an 07 Mazda6 i Value Edition. Sticker price was $21,125 paid $17,988 plus tax & title. Best price I could get in the Pittsburgh Pa. area.
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