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Prices Paid: Buying & Leasing Experiences Mazda5 Lease Questions
43 messages, Last post on Nov 18, 2009 at 2:34 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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Replying to: paulb5 (May 29, 2006 11:25 am) until the last payment is made, you own nothing. lease or purchase. the bank or financing company owns it. every lease has a payoff - just like a purchase. If i wanted - i could buy my leased vehicle just like i could buy my purchased vehicle. not all leases are alike  i have leased vehicles and though i dont 'own' them, i always have a car that is covered under a warranty. i also get the latest and greatest every couple of years. (this does not apply to the longer term leases obviously) mazda isnt like honda/toyota in that they dont subsidize their leases to the point where the lease rates/money factors (think APR) are low. Honda would rather get a bunch of accords on the road for $200/mo to be able to say they sold more than ford/toyota and everyone else. a mazda tends to depreciate more than other cars in their class (like a honda/toyota). though i love my protege5, a comperable civic will likely be worth more. this has an effect on the residual value. though i think this is a great car, with a residual of ~9k - or about 50% of the selling price - many people buying would have paid this much off in that period of time to compensate for the losses. the last thing i liked about leasing was that as the car my wife would be driving, and not knowing the family situation in coming years, she was easily (and quite cheaply) able to move from a civic to an accord to another accord with very minimal money out of pocket (maybe 2k) and payments no more than 225/month. pretty darn good if you ask me. leases are great for people who take care of their cars - like to get a new and/or different car every couple of years - people that generally drive <15k miles/yr - those that are shopping payment and may not have a decent downpayment. leases are not great for people like me who can put 25k miles/yr on a car - even though my pr5 doesnt at all look like it has over 111k miles on it. |
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