Last post on Apr 01, 2012 at 9:19 AM
You are in the Mazda RX-8
What is this discussion about?
Mazda RX-8, Coupe
#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.
#817 of 903 thel....i bought a leftover 04 just this past march...
Jul 21, 2005 (7:32 am)
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!!!!!!!!!!
Jul 21, 2005 (11:03 am)
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.
#819 of 903 thel....i was shopping for a used one, but....
Jul 21, 2005 (1:14 pm)
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!!
#820 of 903 OK folks, here in metro Boston dealers DON'T!
Jul 27, 2005 (3:48 pm)
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.
#821 of 903 trispec
Jul 27, 2005 (4:10 pm)
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).
#822 of 903 Re: OK folks, here in metro Boston dealers DON'T! [trispec]
Jul 27, 2005 (4:15 pm)
I went to carsdirect.com and put in ZIP code 02113 (should be somewhere in the Boston area) and the no haggle price price comes up $500 OVER invoice, which is about $1,600 under MSRP for an AT car with sports pack. That would be a good place to start. There MAY be a dealer doc fee on top of that, but other than taxes, tags, and license that should be it.
You can also put in the ZIP code of other areas close enough to drive, since $500 over invoice is a little high. Around me, the no haggle price is invoice or $100 under, but I paid $500 under last month (negotiating on my own).
Don't forget that there is a $1,000 Mazda credit incentive if you finance with MAC and a $2,000 incentive if you lease with MAC. So the $500 over invoice price turns into $500 or $1,500 UNDER invoice. The MAC lease is an attractive rate (2.x%) but the MAC loan may be a little higher than you can get from your bank or credit union - but you can always take the $1k and the MAC loan and refinance at a lower rate