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Prices Paid: Buying & Leasing Experiences Mazda RX-8 Prices Paid and Buying Experience
901 messages, Last post on Jul 06, 2009 at 7:08 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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? Jake
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Replying to: jakebebber (Jul 18, 2005 11:28 am) A left over 04 should be $26k or for a NEW car, this is a used car so I would say $24k or so. Dennis
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Replying to: dwynne (Jul 18, 2005 9:14 am) Thanks for writing back. Could you explain why it's cheaper to lease an 05 than 04? Is it just because the car is a year old? Or does it relate to residuals, etc.? I got a quote for 2K down + 399/month (x35 payments) [taxes, etc included] for a 2005 Sport pkg/6CD/rotary accent/cargo net at 15K miles/year x 36 months. They used invoice (which includes a 150$ 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!
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Replying to: dwynne (Jul 18, 2005 11:38 am) 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. Thanks again, Jake
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Replying to: jakebebber (Jul 19, 2005 4:27 am) 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. 
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Replying to: pathos (Jul 18, 2005 12:55 pm) 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. Dennis |
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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. |
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mine stickered for $30,300. They priced the car from the get-go at $27,900 and then minus the $4000 Mazda rebate at the time. I asked for another 1K off the car which they showed as giving me on my trade so i ended up financing $21,4??. I never thought I could afford a new one either, but my payment actually went down. I would hold out for a slightly better deal considering the time of the year - 06's aren't that far away!! PS. I love my 8!!!!!!!!!! |
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That's almost $9k off of MSRP! Maybe $22k is in the realm of reason afterall?... Maybe I'll go fo a test drive afterall. I just don't want to waste the salesmans time if I can't afford one, you know? Then again, maybe they'd welcome someone driving a car that has been on the lot sooo long. |
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the leftover 04 prices were better than the used ones I found. Mine is a 6 mt with the sport package and navigation - no touring or g touring, but I've added the rotary accents, a cd changer and the rear wing spoiler for about another $500 or so. I financed for the longest term ( I usually make way more than the minimum payment, but with being single, I feel safer knowing that I can cut my car payment to the bare minimum if I need to) and my payment is $350 or so. Go check them out. I don't think $22k is out of line for a car that's about to be 2 model years old. I was in your shoes exactly and told my salesguy that I was possibly dreaming to even think I could buy one, but he was great about it and worked up the numbers long before I expressed a real interest in being able to buy one. Once you drive it, you'll have to have it!! |
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