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Prices Paid: Buying & Leasing Experiences Mazda6 Lease Questions
267 messages, Last post on Dec 03, 2009 at 8:28 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: jhandal (Nov 10, 2005 7:52 pm) Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Nov 13, 2005 8:21 am) Could you please post the money factor and residuals for the new Mazdaspeed 6 in both the Grand and Sport models? Thanks a lot!
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Replying to: Car_man (Nov 13, 2005 8:21 am) just FYI....the .00211 rate is based on the very best credit and not everyone will qualify. Also there is lease cash that varies per region. In the northeast it's $2000
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Replying to: rtadams (Dec 10, 2005 11:57 pm) Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: audia8q (Dec 12, 2005 9:15 am) Happy Holidays, Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: Car_man (Dec 18, 2005 11:39 am)
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Replying to: masscounsel (Jan 09, 2006 6:26 pm) In your post I notice that you mentioned you are making a $3,000 down payment on this car. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Mazda6 would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all. Car_man Host Smart Shopper / Prices Paid Forums |
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So I just finished a lease for a mazdaspeed6. I wished I head done more research on leasing, but since my mindset was to buy the car, I didn't bother. Going over the numbers, I noticed that the car was basically 1K over MSRP. In hind site, I was focused on getting a decent monthly payment that I didn't pay attention to the numbers before signing (didn't notice the extra $640 in doc fees as well). question for the future: My question: 1. Is the cap cost fixed when leasing, or is it a negotiable value. I was given the impression that I could not negotiate the cap cost (it was fixed). After reading this thread, I assume that is not the case. Is the residual based on the negotiated cap cost or is it a fixed rate? 2. If I buy out the lease, do I still have to pay the rent charge or do I only have to pay the residual at the time I buy it out? 3. Is there time period to wait before I buy the lease out? Thanks.
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The dealer just called me and said that I hadn't signed some contract regarding the mileage of the lease. Is this something I can use to try to get back my doc fees? I'm assuming we can't re-do the numbers of the car, but possibly some other concessions, like a lower price for my mp3 upgrade? |
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Replying to: duhfool (Jan 15, 2006 7:48 pm) I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive. You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to buy your car out or get a new one. Chalk this up as a learning experience. You will be much better prepared the net time you lease a new vehicle. Car_man Host Smart Shopper / Prices Paid Forums |
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