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Prices Paid: Buying & Leasing Experiences Mazda6 Lease Questions
151 messages, Last post on Sep 03, 2008 at 10:38 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: Car_man (Nov 13, 2005 9:21 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 9:21 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 11, 2005 12:57 am) Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: audia8q (Dec 12, 2005 10:15 am) Happy Holidays, Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: Car_man (Dec 18, 2005 12:39 pm)
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Replying to: masscounsel (Jan 09, 2006 7:26 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 8:48 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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Hello Car_man, I’m seriously looking into leasing a 2006 Mazda6i automatic with the Grand Sport package. Before last week I hardly knew a thing about leasing. I’ve been doing research, but I still have quite a few questions that I’m sure others out there might benefit from. I would like to understand some things more clearly before I go price quote hunting and negotiating. Any help would be greatly appreciated. For the 2006 6i Grand Sport with automatic transmission, do you have numbers on the money factor (my credit score is on the high side) and the residual value for a 36 month lease and both 1,200 and 1,500 miles per year? Are they offering 36 month leases, or do I have to go with a 39 month term? What’s this “lease cash” you’ve been mentioning from time to time? Is it cap cost reduction off the sticker price? If so, does this mean we have a chance to negotiate beginning with a price that equals invoice price minus the "lease cash" amount? How is this different than cash-to-customer and cash-to-dealer rebates? About the True Market Value (TMV) price, what exactly is it, or close to, among the following?: 1.Gross Cap Cost (the selling price you negotiate with the dealer) 2. Gross Cap Cost plus any add-on fees and taxes 3.“Net Capitalized Cost” aka “Adjusted Cap Cost”, where Net Cap Cost = the Gross Cap Cost plus any add-on fees and taxes, minus any Cap Cost Reductions (down payment, trade-in, or rebates) What I’m finding out to be really tricky is that (at least from what I understand) sometimes these miscellaneous add-on fees are already included in the Gross Cap Cost, and sometimes they’re not, so I would hope the answer is at least #2. #3 would be more useful if it involved only rebates since we consumers have no control on other consumers’ downpayments and trade-ins. Since monthly payments are going to be based on the Net Cap Cost, and not the Gross Cap Cost, our goal when negotiating is to focus on the Net Cap Cost. The TMV can be helpful, but the Cap Cost Reductions will have to be considered when negotiating if they’re not already factored into the TMV. Now according to Edmunds, the TMV for the car with the options I chose is about $900.00 less than invoice price. Does this mean that when negotiating I can reasonably set my first offer to something like $1,500 to $2,000 below invoice? From the articles I’ve read, it seems that if you’re leasing, you have to settle for what is already in the lots. I’m satisfied with all the bells and whistles that the 6i Grand Sport comes with, except that I also want to add the remote engine starter option. Is this a big deal to add to a car that’s already in the lot… in other words, would I be losing negotiating leverage if this I want this added? Would I also therefore have to wait a month or so for my ordered car to arrive? It would seem to me that the task itself of adding the remote starter is no big deal, but the repercussions of doing that may be a big deal. Do Mazda leases include gap insurance, and is it part of the Gross Cap Cost? What’s the best site to use to go look for quotes? (if you’re allowed to answer this one  ). Thanks!
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