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Prices Paid: Buying & Leasing Experiences Mazda3 Lease Questions
445 messages, Last post on Nov 23, 2009 at 6:54 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: carcutiect (Apr 17, 2006 9:48 am) The way you pay for the vehicle, it sounds like a lease, but it is not a lease. It is a finance. Your monthly payment is like a lease, and you do have mileage restrictions. i.e. 12K or 15k per year. Pro's are you do not have to pay a bank fee, security deposit, acquisition fee. Also, the vehicle is registered in your name, so you may get an insurance break. You may trade this vehicle in at any time, unlike a lease, where you may have to go over your contract to see if you can do so. At the end, you can pay the "balloon" payment if you choose to own the car out right, or finance that balance, or just turn the car in. If you are over miles, I believe it is 18 cents a mile. Con's are not that significant. You do pay more over time as opposed to a general finance. You also pay sales tax on the full amount of the car, as opposed to just a portion like a lease. I think I about covered it, I may have left a few out, but, I believe I listed the major ones. I hope I have helped you. |
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Replying to: carcutiect (Apr 17, 2006 9:48 am) Why not just buy the car? If the answer is "thats the only way I can afford the payments" you need to review closely what your doing and get a complete understanding of the contract your about to sign. |
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Hey, Here's what's on the table for me. I can lease a Mazda3i(touring) for $174/month for 24months/12k per year or $205 for 36 months/12k per year. Buying the car would be around $270/month. I would like advice on buying vs. leasing and if leasing, which term ?? Here's some info, MSRP of the car is $19,200. I am using my S-Plan pricing so that brings the car down to around $18k. I will be putting down $4500. What do you think??
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Replying to: gambo384 (Apr 18, 2006 11:02 pm) $270/month for years 4 & 5 = $6480 Additional $65/month for years 1 - 3 = $2340 According to Edmunds "True Cost to Own" estimations, your $19,200 car would be worth $8256 at the end of the 5 year term if you buy. So, essentially, if you lease  $205/month for 36 months you will have invested a total of $11,880 and have $0 in equity once you turn the car in. If you buy at $270/month for 60 months you will have invested a total of $20,700 and have around $8200 in equity in your car remaining. However, the price of that $8,200 in equity has been the additional $8,820 you've paid over years 1 - 5. So, you've basically got $0 (or, really -$620) in equity at the end of the buying period as well. What it really boils down to is how long you want to be tied to a particular car and, especially, if 12k/year is going to be enough for you. I always buy my cars because I don't want the mileage restrictions and, mostly, because I tend to keep cars for 8 - 9 years. |
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Replying to: gambo384 (Apr 18, 2006 11:02 pm) If you feel the need to have a new car every few years, lease, or else you stand the chance of being in an inescapable negative equity situation if you finance, and get a new car every few years.
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Replying to: aviboy97 (Apr 19, 2006 9:20 am) |
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| I was looking through the history of this thread, and I saw repeated references that Mazda does not have a good program for the 3. Within the past month or so, I have seen some of the Atlanta dealers offering what appear to be fairly aggressive deals. Have there been any recent changes? | |
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Hi Carman, I was wondering if you knew what the current residual/money factor is on the 2006 Mazda 3 Grand Touring - 4 door. I am in the Maryland/DC area and am looking to do a 36 or 39 month lease at 12K miles/year. The MSRP of the model I'm interested in is 22,010 + destination charge of 550. The invoice is 20,620. Thanks, Ben
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Does anyone know the MF and residual on the current 24 month deals Mazda is running on the 3s hatchback? The deal is for 12k miles, but I'd want 15k. How much does that change the deal? I'm specifically interested in a Touring 5-speed with moonroof package and leather, which is also different from the advertised deal (Touring automatic). I'd like a Grand Touring, but edmunds doesn't list that as having a lease deal. Is it true that there are no special offers on the GT? |
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Audia8q was kind enough to provide me with the following info on the 3 hatchback via email: 24month 15K miles Touring...64% GT...62% add 2 points for 12K miles year add 3 points for 10.500 miles year deduct 2 points for manual trans. Money factor is .00102 for both. This is tier 0 or 1 which is the best rates. $595 acquisition fee....can be built in or paid upfront. program runs thru 5/31/06. |
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