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Hatchbacks Mazda3 Mazda3 Canada
730 messages, Last post on May 27, 2009 at 1:27 PM
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Replying to: autonomous (Sep 19, 2006 12:13 pm)
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Replying to: bodble2 (Sep 19, 2006 4:29 pm)
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Replying to: nifty56 (Sep 20, 2006 6:20 pm) |
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I just signed the lease for a 2007 GS auto base option in a Montreal dealership: MSRP: 19,995 Auto: 1,000 Freight: 1,225 Extra color: 105 Total: 22,325 Discount: -925 Grad discount: -500 (tax incl) Free option: nothing.  5.9% for 48 months lease with 0% down for $327/m (tax incl). I have to pay the air tax, tire tax, processing fee = $180, and the first month payment 327 on the delivery day. I am completely new to car leasing, so here are my questions: 1) The buyback value of the car is 10,995 for the 25K km limit per year. Do I have to pay tax on it if I want to keep the car after 4 years? (yea I know, a dumb question) 2) I drive 50KM (round) to work everyday, do I need the extra 5K per year for $10/m? 3) Do I need the extended warranty for $10/m, or the wear-care for $18/m? 4) The dealer didn't agree to guarantee the mileage <50 km on the delivery. Is it reasonable? The last question, is it a good deal? Thanks.
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Replying to: luco (Sep 28, 2006 8:12 pm) Yes, if you buy the car after the lease, you pay sales tax and GST on the buyout price. 2) You already have a 25K km lease. Your work mileage is around 14K km. How much do you drive for pleasure. Only you would know whether you need to buy extra km allowance. 3) No and No. I wouldn't anyway. 4) If the mileage is less than 50km upon delivery, then I wouldn't fret too much. If it is more, don't take delivery. So check it before signing on the dotted line. (Where is he getting the car from? Another dealer?) Overall, I think it's a decent lease deal. The lease rate could be lower, but....it is what it is! BTW, which model are you looking at? The sedan or the hatch? I think the hatch has better lease deals. Also, I think their shorter term leases offer lower lease rates. Check it out on their website.
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Replying to: bodble2 (Sep 28, 2006 10:03 pm) I prefer purchasing rather than leasing. Mazda Canada has had some very interesting purchase financing options, like 0% for 24 months. I bought my Protege5 at 1.9% for 36 months; the cost of borrowing (COB) was under $500. In effect, the interest paid is part of the final price of the car and so it's worthwhile getting the lowest rate possible.
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Replying to: autonomous (Sep 29, 2006 8:39 am) 
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It is a 4dr sedan. Yes, I agree that financing makes more money sense. However, this will be my first long term owned car and I guess I might get some scratches or dents... and I have been a bit unsure of the quality of Mazda, being told by some friends of sad stories of Mazda owners. I have a question about the payment. The total payment should be: Price: 21,400- 438(500 grad discount)= 20,962 buy back value: 10,955 so the lease cost should be (20,962-10,955)= 10,007 Should the lease payment be 10,007*1.15/ 48 and factored the 5.9% in. I know it's more complicated than this due to the interest and monthly payment. However, should it be like that? The final price for the car if I use the buyout later: 327*48=15,696 10,955*1.15=12,598 sum: 28,294 If I buy now: 24,106. It's 4,000 difference...
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Replying to: luco (Sep 29, 2006 3:41 pm) |
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Replying to: luco (Sep 29, 2006 3:41 pm) |
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