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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: 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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I concur with paulb5. Other than a security deposit, it does not make any sense to put additional money down on a lease, unless you know at the beginning of the lease that you will be purchasing the vehicle at the end of the leasing term. Not many lessees I know of are that certain of the future. That's one of the benefits of a lease... an option to walk away when the term is up. I think it's similar to renting an apartment. When signing a lease, would you give the leasing manager extra money on top of the security deposit, just to lower your rent? Probably not. If the rent is too high, I believe most people (myself included, as a renter, and a vehicle lessee) will try to find a different place to live. Similarly, if you must lease and the payments are too high, try to find a different vehicle. Putting money down on a lease is like throwing it away. Why pay any more than you have to, for something you don't own? For lower payments? To those of you who say yes, I have a bridge to sell you. |
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It's Tuesday, time for our weekly Mazda Club Chat. All the Mazda news, and anything else automotive is fair game. Stop in to meet and greet your fellow forums enthusiasts! The Mazda Club Chat is on tonight. The chat room opens at 8:45PM ET Hope to see YOU there! Check out the schedule |
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Just got back from Millenium Mazda in Durham, NC and here's what I got from them on an M5 sport lease: Price: $18,710 27mo $2000 down $294/mo Included in their lease structure was the following: $379 DOC Fee $595 Acq Fee $379 DMV Misc Fee $36 Title Fee $26 License Fee $28 Elec Filing Fee They claimed the Acq Fee was from Mazda and they couldn't do anything about it, as well as saying the DOC Fee was a dealer fee. Seems like a lot of bogus fees when you consider that's 8% of the total value of the car!! They did offer to throw in leather interior (a $1300 value), but I'm still not sold on paying for a bunch of fees that are 100% margin. Anyone have any advice or experience anything similar? |
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Hi Would anyone care to share the current money factor and residuals for a Mazda 5 Grand Touring for 2/3yr 12/15K? Thanks.
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Replying to: storrnyc (Jul 19, 2008 10:51 pm) If they can't find a bank that is willing to lease you this car, you will have to either finance or pay cash for it. I believe that Mazda is currently offering 0% financing for 3 years on the '08 Mazda5. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Hi Car_man, Do you have the 2009 lease factors on this yet? Price is $22,781.00 Southern Cali. Looking for lease factors for 3 and 4 years. Thanks, DV8Tor
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Replying to: dv8tor (Aug 12, 2008 6:34 pm) Thanks DV8Tor |
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