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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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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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It may be hard to imagine, but Boston Mazda dealers don't seem to care about selling cars. I can't get ANY offers. I've expressed great interest in an RX 8 AT with a Sports package to a local dealer after a really long test drive. I brought my six year son on the test drive so he could enthusiastically endorse the car, which he did. I was sent away to find my own price on Edmunds.com by the manager himself. Then I sent e-mail requests for quotes on the specific RX 8 model and package to all four metro dealer. They all sent back "Call Us" boiler plate email with really wacked nonsense statements like "Now that we answered you email... call us for a test drive" I've been a Saturn guy for a decade now so I don't have a clue what the magic words are to get the typical rabid dog dealer to come barking at my door. I made the first moves by test driving, telling them I really love that Black RX, giving my home number, work number, cell number, and e-mail address. I told them my wife had given permission to visit dealers and my car budget was look'n pretty healthy. The only thing I politely pushed back on was the idea that I didn't think I needed to pay full retail.
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It's quite simple really, you simply need to walk into the dealer of your choice and make an offer on the car you want. Usde Edmunds, Carsdirect.com, magic 8-ball, or whatever to decide how much you're willing to pay for the car and then start going to dealers and making offers. If none of them accept your offer, you simply need to raise it until it is accepted. It should not take very long, a few minutes at most. Do not get caught up in the :...wait here while I go check with my manager (for an interminable amount of time)" nonsense. Just offer them $XX,XXX and let them accept or reject in a reasonable amount of time. If you wait for the dealer to call you up with an offer you will most likely be wainting a looong time, that simply isn't how most dealerships work. It sounds to me like maybe you're dropping your number hoping a dealer will call you up with a discounted price without you having to "work" for it and most dealers just don't work that way (some do, but not around here anyway). Good luck!
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