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Mazda RX-8, Coupe
#807 of 903 Re: Available 2004 NEW RX-8s [pathos]
Jul 17, 2005 (5:28 pm)
You have to just call around and see, but others in CA have reported no 04s at dealers. Since Mazda removed them from the online search no well to tell except to visit the dealer, visit their web page (assuming it is up to date), or call them.
You should be able to do close to invoice now or under, then there is a $1,000 MAC finance rebate or a $2,000 MAC lease rebate going on now. The finance rate might be high, but you can always take the $1k off and refinance later. The lease rate is a quite a bit below the market rate and is a very good deal.
#808 of 903 Re: Available 2004 NEW RX-8s [pathos]
Jul 17, 2005 (8:48 pm)
The MazdaUSA site says "2005 RX8" for the lease, so I would assume it is only for the '05. They have totally different incentives on each of the models.
#809 of 903 Re: Available 2004 NEW RX-8s [dsmdriver]
Jul 18, 2005 (9:14 am)
Correct, the $4k money the dealers got for the 04s is it - no more help from Mazda.
If you run the numbers, the 05 lease deal through MAC is MUCH cheaper than getting a lease on an 04 (which would have to be leased as a used car at this point).
#810 of 903 Orlando FL - 2004 RX-8 GT w/ 8K miles
Jul 18, 2005 (11:28 am)
A local dealership has a titanium 2004 RX-8 with Nav, tinted, spoiler, ground effects package, red/black leather interior with 8,000 miles. I called and they said Kelly Blue book was $31,600 and they were selling at $28,900.
Does this seem high for a used RX-8?
#811 of 903 Re: Orlando FL - 2004 RX-8 GT w/ 8K miles [jakebebber]
Jul 18, 2005 (11:38 am)
That is about what I paid for a new 05 GT w/NAV and "0 miles" last month (counting the $2k in MAC rebate).
A left over 04 should be $26k or for a NEW car, this is a used car so I would say $24k or so.
#812 of 903 Re: Available 2004 NEW RX-8s [dwynne]
Jul 18, 2005 (12:55 pm)
Thanks for writing back.
Could you explain why it's cheaper to lease an 05 than 04? Is it just because the car is a year old? Or does it relate to residuals, etc.?
I got a quote for 2K down + 399/month (x35 payments) [taxes, etc included] for a 2005 Sport pkg/6CD/rotary accent/cargo net at 15K miles/year x 36 months.
They used invoice (which includes a 150$ LA transportation fee - ?BS) - holdback (538) + profit (200) - cash back (2000) to total at 24877. The residual is only 45% for 15K miles/year this month (I saw their paper). I believe it was 48% just last month, this makes me want to buy it at the end if the car isn't having problems (for 11-12K$, +tax I think). And MF was 0.00138 (about 3.3% APR).
The quote sounded high for these numbers, using a couple of lease calculators. It's always hard to tell if they're tacking something else in. There is a 475$ bank acq fee, 45-75$ doc fee, 425$ deposit, 8.75$ tire fee involved for sure. Any input?
Dennis, do you mind telling me what number you got for your lease? It seems like you of all people would have gotten a fair/good deal. Just want something to compare it to, so I don't feel I'm getting jipped. Thanks!
#813 of 903 Re: Orlando FL - 2004 RX-8 GT w/ 8K miles [dwynne]
Jul 19, 2005 (4:27 am)
Thanks so much Dennis - I spoke with the dealer last night and he's trying to impress upon me that because it has so many features they wanted to sell it so high. I was thinking no more than $25,000 myself, since I could get a new Shinka for $29,000 (according to Carsdirect.com)
Of course, he wants me to come and talk, which I'm not in much mood to do. I guess he thinks if I see the car, etc., I'll fall for it.
#814 of 903 Re: Orlando FL - 2004 RX-8 GT w/ 8K miles [jakebebber]
Jul 19, 2005 (6:49 am)
They had Phil Edmonston on local TV last night - I loved his comment "This industry (car sales) is one of the most dishonest in the world".
Of course he thinks you'll fall for it, or anything else he tries.
Resist, resist, resist. There is always a better deal around the corner. No hurry to buy or commit! Ever!
The more you look around, the more knowlegable you will get. You will know when you see a "good deal".
Car salesmen hate me. I don't play their game.
#815 of 903 Re: Available 2004 NEW RX-8s [pathos]
Jul 19, 2005 (8:11 am)
Well, once the model year has past then the 04s are considered used cars to the lease bank. Almost all of them use the ALG lease residual numbers and the number to lease an 04 that was NEW would be the same number that you would get for leasing a used 04. Looks like on a 3/36k lease right now the residual would be $12,600 for a base or sports pack car.
Your lease payment is based on the the difference between your negotiated low price and the residual with the money factor applies. If you found a left over new 04 with sports pack and paid $24k for it, the depreciation alone would be $11,400 over 36 months or $316.67 per month - and that does not include interest. The money factor is usually a good bit higher on used car leases as well.
Are you looking at an auto or 6mt? The auto residuals are 2-3% worse, I am told.
Also, you and the dealer are looking at the WRONG lease - the sweet spot in the MAC lease deal is the 24 month lease! The residual on a 24/24k is 56% and should have an even lower MF than the 36 month deal. For a 24/30k lease the residual will be 55% or 54%.
Mine was based on the June deal, which was 59% residual on a 24/24k lease and the MF was 0.00107 (2.5%) if you paid security or let them bump it up to 0.00122 (2.9%) and they waive security. I don't know the MF (but could work it out), but I was told the residual on the 24/24k lease dropped from 59% in June to 56% now. To keep the "$299 a month" payment for the base 6mt in the promo they reduced the MF even more. So you should be looking at 56% and 0.001 or less. 55-54% for a 24/30k lease.
#816 of 903 3 Leftover 04's here in Jefferson City
Jul 19, 2005 (3:36 pm)
The local dealer has 3 black RX8's. The chapest one has the GT package with the cool red and black leather seats. MSRP is $31.5k. I seriously doubt I can afford one, but how much should one of these leftovers go for? They have 3 04's on the lot so I hae a bad feeling that they are not too willing to let them go for a song but...
BTW, they had it in the paper last week for a sale price of $26,XXX.