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Mazda RX-8 Lease Questions

29 messages,  Last post on Dec 09, 2008 at 7:07 PM

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What is this discussion about? Mazda RX-8, Car Leasing, Coupe

Messages Page 2 of 4

#2 of 29 Mazda RX-8 lease question by mark74

Sep 02, 2005 (2:42 pm)

Looking to lease a 05 RX-8. Credit score is about 780. Can you tell me a reasonable cost for a three year lease. Looking to put about $ 1,000.00 in as cash.
 
Thanks for your help!

#3 of 29 Re: Mazda RX-8 lease question [mark74] by ramses

Sep 02, 2005 (10:58 pm)

Replying to: mark74 (Sep 02, 2005 2:42 pm)
Hey Mark74,
I was going to lease so I know alot more than I did before. Anyways what I was told is that you take the price of the car divide that by 2 minus your down then times it by 36 months and that should be your payment for your lease.
 
Ramses

#4 of 29 Re: Mazda RX-8 lease question [ramses] by mark74

Sep 03, 2005 (4:42 am)

Replying to: ramses (Sep 02, 2005 10:58 pm)
Thanks for the quick reply. If I understand you correctly and the car is valued at 26K, I take half of that, which equals 13K, minus 1K times 36. The number would be 432 a month. Did I get it?
 
Thanks again!

#5 of 29 Re: Mazda RX-8 lease question [mark74] by kyfdx HOST

Sep 03, 2005 (4:52 am)

Replying to: mark74 (Sep 03, 2005 4:42 am)
That would be a really rough rule of thumb...
 
Lease prices vary according to residuals, money factors, etc.. Sometimes lease prices are very cheap, relative to MSRP, because manufacturer's are incentivizing the purchase.. (Those are the leases you want!).
 
Another rough rule of thumb.. [$15 per thousand of MSRP = monthly payment]... will usually lease a car for 36 months, 15K miles/yr., taxes included... with only 1st payment and security deposit due at signing... Actually, this is a little on the high side, and I'd never lease a car that was more than that... The really good leases are $11-$12 per thousand of MSRP..
 
Anyway... the month just started, and it takes Car-man a few days to get the information on all of the new lease programs.. He will be here before too long to answer your specific questions regarding leasing an RX-8.
 
regards,
kyfdx

#6 of 29 Re: Mazda RX-8 lease question by Car_man HOST

Sep 08, 2005 (4:24 am)

Hi mark74. The following article describes the actual formula that is used to calculate lease payments: Calculate Your Own Lease Payment. I would be more than happy to use this formula and Mazda's actual lease program to estimate what sort of lease payment you can expect on this car for you, however it would be a big help if you were able to provide me with the full MSRP 9including the destination charge) and an approximate selling price for the exact car that you are interested in.
 
Car_man
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#7 of 29 2006 RX 8 by wantmb

Apr 12, 2006 (8:03 am)

CarMan,
  
Can you please let me know what the April residual and Money factor is for the 2006 RX 8 manual transmission in Maryland. I understand they have a $500 cash rebate and $1000 Dealer cash as well as a lease special. I am in the market to lease 24 or 36 mos 15k. The vehicle MSRP i'm interested in is $32,135. What would be my payment pre tax and post tax (5% in MD)with $0. Thanks for you help in advance, I've been following your advice which has served to be very helpful with our MB 350 several months ago.
Thanks Again!

#8 of 29 Re: 2006 RX 8 Lease question by kg6c

Jun 19, 2006 (8:09 am)

Replying to: wantmb (Apr 12, 2006 8:03 am)
I had a quick question, I am not sure if this is the right place to post it, so I apologize if this is the wrong place.
I have a RX8 lease that is coming up next month, and my questions were:
If my RX8 needs new tires will Mazda charge me for them.
Also, the same goes for the brakes.
 
Thanks
K

#9 of 29 Re: 2006 RX 8 Lease question [kg6c] by Car_man HOST

Jun 20, 2006 (2:43 am)

Replying to: kg6c (Jun 19, 2006 8:09 am)
Hello kg6c. This is a good place for this sort of question. I assume that your lease is through Mazda Credit. Whether you will be charged for excess wear and tear for your car's tires depends upon how worn they are. Specifically, Mazda Credit charges consumers a penalty for tires that have less than 1/8" tread depth in all grooves except the outer grooves, or that have outer treads that have no wear remaining, or have internal belts or casings that are showing. You can find out more information about Mazda's lease-end inspection process and what it considers to be excess wear and tear by visiting the following site: Mazda American Credit - Excess Wear and Use.
 
Car_man
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#10 of 29 New Lease Coming Up by mgbaumann

Jul 19, 2006 (3:30 pm)

Car Man,
 
I would like a little assistance as I just can't wrap some numbers around for a new lease.
 
Currently, I am driving an '04 RX-8 Manual Touring with a couple of other minor add-ons. The retail price of the car was $31,409. I leased with $1800 Cash/$1800 Trade In, plus $2500 in rebates, S-Plan discount, for a total Cap Cost of $23k and change. My monthly payment for 30 Months/30,000 Miles is $217 (Including Mazda's Tire Care Package)
 
Now, here's my dilemma. The mileage for the lease was plenty early on but I have since relocated and my monthly mileage will exceed the allottment within the next four weeks. My lease is due in April, but the way I figure it, if I roll the remaining payments into a new lease, it will be cheaper than paying the extra mileage. I have about $1700 remaining in payments, plus am estimating $1800 in excess mileage if I ride out the lease.
 
What I'd like to know is any advice you may have on my options plus the money factor and residuals for a new '06 Manual RX-8 for 24/30/36 Months at both 12,000 and 15,000 Miles for all three durations.
 
Thank you very much.

#11 of 29 Re: New Lease Coming Up [mgbaumann] by Car_man HOST

Aug 02, 2006 (4:25 am)

Replying to: mgbaumann (Jul 19, 2006 3:30 pm)
Hi mgbaumann. You are right that you the cost of your remaining payments and your excess mileage charge that you would have to pay if you continued driving it are about the same. However, you are not taking the fact that you are going to have to pay for those miles anyhow into account. If you don't put them on your old car, you will have to pay a higher monthly payment on your new one because of its higher mileage allowance AND still pay for your old car.
 
Anyhow, Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2006 RX-8 with a manual transmission and 15,000 miles per year are .00172 and 59%, respectively. The numbers for an otherwise identical 36 month lease of this car are .00267 and 50%. If you were to lease it with only 12,000 miles per year, its residual values would be 2% higher. When negotiating your lease on this car, make sure to take the $2,000 lease cash that is currently available on it into account. It will help you to negotiate an attractive capitalized cost.
 
Car_man
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