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Mazda RX-8, Coupe
#671 of 903 $3k in lease help from Mazda for 05 RX-8s ?
Apr 21, 2005 (5:45 am)
car_man posted this in the lease forum:
I believe that Mazda's lease cash on the 2005 RX-8 is up to $3,000 in April, $1,000 customer lease cash, $1,000 dealer lease cash, and a $1,000 bonus for unsupported leases of this model through Mazda Credit. I have not seen what its unsupported lease money factors and residual values for this car are like recently though.
I am working on confirming it with a couple of Mazda dealers.
The 8 would still be a "bad" lease car, since the MAC money factor is pretty high and the residual (on a 36/36k lease) is less than 50%.
#672 of 903 Re: $3k in lease help from Mazda for 05 RX-8s ? [dwynne]
Apr 21, 2005 (6:31 am)
When I was shopping for a 05 RX8 in April, several dealers told me that leasing through Mazda credit was not a deal, i.e. higher payments than using non Mazda credit companies. Therefore, they quoted only non Mazda deals or if they quoted both, the Mazda deal was more expensive. In one case, I was looking over the manager's shoulder and checking all the inputs on his computer screen (and sometimes telling him what the inputs should be! ). So, I didn't hear anything about lease deals or lease cash in April. One dealer said that there were deals in March, but not everybody confirmed this.
#673 of 903 buffalo66...
Apr 21, 2005 (6:38 am)
the dealership is Lester Raines Imports. Their web site is lesterraines.com. The site has no real info, but you can get the phone numbers from there. Sorry, as the host said, I can't give you my salesman's name and that's a shame because he was great and I would love to send some business his way.
Host, can I post initials? I'm certainly not posting anything bad about him - I'd love for him to get credit for selling EVERY 8 they have.
As I said, it's been a couple of weeks since i was on the lot, but I'm guessing they still have a few. What color, what options are you looking for?
vroom7...If Dennis is right and the 26805 is invoice, it is a decent deal. I think you could hold for a little more. No offense to you and your likes, but my dealer said they had trouble selling the AT's and after the initial order of them, did not order more. Could be the area or it could be a pretty good bargaining tool for getting a better price? See what seems to be the case in your area before you try it. Could be completely untrue for your dealer!!
#674 of 903 Re: $3k in lease help from Mazda for 05 RX-8s ? [grantlu]
Apr 21, 2005 (7:03 am)
There was (confirmed to me by a dealer) $2k lease money in March. This made the MAC deal better than the 3rd party lease deal. IF there is $3k now, then it should be even better. Someone not afraid of reading the lease contract fine print might be OK to do the lease to get the discount and then buy it out later.
I hope to have the lease cash confirmed this week.
The 8 really does not lease well - the MAC and ALG residual is really low, which is too bad.
#675 of 903 Re: buffalo66... [lhess]
by Kirstie@Edmunds HOST
Apr 21, 2005 (7:19 am)
No, NO identifying information, please. If we allow one person to do it, we have to allow it for all. We don't want these boards to simply become a place for salespeople to promote themselves, or for members to solicit for referral fees. Even if you're not doing one of the above, as I said, if we allow it for one person, we have to allow it for all. Thanks for understanding.
Host, Future Vehicles & Smart Shopper discussions
#676 of 903 kirstie...
Apr 21, 2005 (7:35 am)
nothing listed above was my intent, but understand and will refrain.
I would avoid leasing the 8. When I started shopping, I looked at leases on the 2005. My dealer, point blank, told me to do myself a favor and not waste time trying to lease it. I just can't see the benefits - monthly payments seem to be about the same and I hate worrying about miles every time you drive it (leased once). My payment is roughly $358 (no money down, just paid my TTL). I budgeted $400 per month to actually pay on the car. My depreciation schedule (everyone should have one) shows at the end of 3 years (at this rate of paying) I will owe roughly $10K on the car. If the car is in good condition and mileage reasonable, this has to be safe for a trade at that point. May even be a small amount of equity in it?
#677 of 903 RX-8 Incentive info
Apr 21, 2005 (12:54 pm)
What I found (still waiting for confirmation and explanation) is that the 04 dealer cash is up to $4,500 from $4,000:
DEALER CASH INCENTIVE
ALL NEW 2004 RX-8'S QUALIFY FOR $4500.00 DEALER CASH
And there APPEARS to be 2 different 05 lease incentives, which may or may not be combined. If so, then $3k below invoice MIGHT make for a decent lease deal (even with the bad residual and MAC MF).
LEASE CASH + DEALER CASH
$1000.00 DEALER CASH PLUS $1000.00 MAC CUSTOMER LEASE CASH...SEE DEALER FOR MORE DETAILS
Rebate applies to: New 2005 Mazda RX-8
$1000.00 MAC LEASE CASH (See Dealer for Details)
Rebate applies to: New 2005 Mazda RX-8
#678 of 903 Re: RX-8 Incentive info [dwynne]
Apr 21, 2005 (1:59 pm)
It looks like the extra $1,000 is:
2005 Competitive Lease Conquest Direct Mail Program $1000 Customer Cash
So unless you get the direct mail coupon, then they are still stuck on $2k in lease money
#679 of 903 Re: Lease incentives on RX8 [dwynne]
Apr 22, 2005 (2:39 am)
My Bad. I should have said:
2004 Automatic with Touring Package
Invoice (not MSRP): $26805
Invoice date: Aug 2003
#680 of 903 Re: Lease incentives on RX8 [vroom7]
Apr 22, 2005 (6:25 am)
Mazda gave all the dealers $4,000 and now supposed to be $4,500 to move the remaining 04 RX-8s.
So $26,805 - $4,500 = $22,305. There is $500 of so of holdback on the car as well, so if the dealer is not sticking any other fees on top of your price they are making about $700 on the car. You should be able to do a little better on a car that will soon be 2 years old.
If they are going to stick a "doc" or "dealer" fee on top of the quote, then they need to do a good bit better.
04s are getting harder to find and a lot of the ones left are not desirable color and/or really loaded up (GT, NAV, etc) - so keep that in mind.
With the current dealer incentive you are NO LONGER required to go through MAC for financing. So see what your credit union, bank, or CapitalOne online will do for financing before talking to the dealer's finance folks. If they can't beat your rate, then use your own financing