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Prices Paid: Buying & Leasing Experiences Mazda5 Lease Questions
40 messages, Last post on Nov 05, 2009 at 10:13 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: kev604 (Mar 07, 2006 8:37 am) I understand your rationale, but unfortunately, its incorrect. In a flat or depreciating real estate market, believe it or not in some cases it is actually more cost effective to rent than to buy! Like I said earlier- you have to take each choice on a case by case basis. Blanket statements like "buying is always more economical than leasing" is completely and utterly false. Whether you decide buy or lease a new car, its a losing proposition. The question is, which way do you lose the least? If you pay $25k for a car and after 3 years you have $15k in equity "to show" for it, you claim that is better than shelling out $275/mo over 3 years for the same car and having nothing to show at the end. Simple math tells us that we are in the exact same boat- $10k in the red. Which brings us to the specifics at hand. Mr. Spyder has proven (with numbers!) that buying a 5 right now is more cost effective than leasing. Like I said in my previous post, I think anyone looking at a 5 right now should consider buying over leasing. There are some excellent lease deals out there right now, just not with Mazda.
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Replying to: appcom (Mar 07, 2006 11:45 am) I would like to ad my 2 cents. I currently lease a vehicle that Im planning to return in 8 months from now. I have leased the car for three years, and I have been trouble free for all this time.........and that for me is very important. "having nothing to show for" is an old tradition and not completely true. Lease could be good for everyone, for example I don't have a businees to write off any of the interest or cost. However, this is what I see as the benefits: * Want to keep the car for a long time, but don't know how good the car is going to be. If car = good keep, if not good = return. * I pay for what I use. My payments are based on the portion that I use and that is true for the taxes as well. Finally, when leasing you MUST know the final price of the car, otherwise the payments can be based on WHATEVER THEY WANT TO. Also, do not let them change the amount that you decide and can afford to pay per month. People don't realize but an increase of $30-$50 dollars extra p/month is a big difference at the end. Try doing $50 x 36 or 48 and that's how much more profit they can make from someone that doesn't deal based on the final car price. The dealer will always try to talk to you in monthly payments. Monthly payments that are affordable and people lose perception of the actual total cost. You will say "I can pay that".
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Replying to: pisulino (Mar 08, 2006 9:57 am)
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Replying to: bob118 (Mar 11, 2006 5:03 pm) you put 4,000 down and will pay about 290 per month for 36 months. That is = to $14,500. What is the buy back amount at the end? is it only $ 5 or $6K? Im just thinking that you are paying a lot for the lease payments considering you put $4k down. But my calculations are only based on what you have provided.
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Replying to: pisulino (Mar 12, 2006 11:17 am)
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Replying to: bob118 (Mar 14, 2006 7:38 pm) If you pay 290 x 36 = $14,500 + 9 = $23,500. Is that the car's price today? - 23,500 or less?...then you will know if you are paying too much. good luck
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Replying to: Car_man (Feb 19, 2006 7:07 am) MSRP 18,935 24 months 12 k per year lease end value 12,118 initial cap cost 17,900 bank fee 595 down payment 2000 mo. payment 270.00 This is thru mazda lease program. What say you, good deal or bad? Thanks, Casey |
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Replying to: pisulino (Mar 20, 2006 5:14 pm) I have never leased but when I did look into it, the dealer said the only way to lower the residual was to 'buy more KM's for the car'. I guess this would theoretically increase the KM number at the end of the lease, thereby depreciating the car more. For an extra $100 a month, you can probably finance the car and own it after the lease/finance term. That is what I did. I keep my cars for a long time. John John
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Replying to: bobw3 (Jan 31, 2006 9:50 am) Also, watch the residual value - it should not change during the negotiation. This is set by Mazda, not the dealer. I don't know about Mazda's USA website, but the Mazda.ca shows you what the residual is. Lastly, if you have a trade-in, wait to the last minute to factor this into the deal. Get the best price - layout the monthly payments - then factor-in the trade-in. And know what your trade-in is worth before you go do the deal so you can be assured you are getting a fair value offered to you for it. The best thing you can do is educate yourself before going to write the deal. Know your numbers and ask questions if you are not sure where their figures are coming from. You are in control, not them. I did my whole deal via email before stepping into the dealer. Had my numbers down pat in my head and walked in with a paper laying out the deal I wanted and asked if they could do it. If the dealer won't work with you over email - find another that will! Good Luck |
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Replying to: partsguy1 (May 26, 2006 12:39 pm) I did this on my Mazda 5 - bought 10  $400 each and got the rate lower 1.5%. Lowered my month payment by $27! Sure, if I would have put the $4000 down as a down-payment, it would have lowered the monthly payment a lot more (like $120 a month) but I would had to spend $4000 to save $4320 over the 36 months - netting my only a $320 savings! The other way I am saving $972 (27x36) at no cost to me! Keep in mind that these is based on Canadian dollars. Cheers
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