flnsx

Who here has leased an 07 touring?

Is it possible to get this car for well under invoice?

It seems RX8's have horrible resale and I don't want to get stuck with an upside-down loan 3 years later.

Any info on your deals would be appreciated.

7andan8

Well under invoice? No, not on a lease.

Horrible resale. Yes, for a little while it does.

Upside down loan? The beauty of a lease is you can walk away from it. Nothing upside down.

If you like a new car every 2 or 3 years .... lease.
If you want to keep this car for a long time .... don't lease!

nycgps

iTrader: (1)

Under invoice? Dont listen to ^^^ Oh yes you can get it well under invoice, even its a lease

You ALWAYS, ALWAYS talk about the price before you tell them rather you want to buy or lease.

resale value ? well , its not as good because, due to the wonderful america market love the horsepower game. and this car does not look good on *paper* to them. and this is what is happening. resale value is fine on most markets. just not NA

This car is for someone who knows excatly what driving pleasure is about. Not for *I just want something to push me in the seat* kind of person. well its possible to make this car push you in the seat but if thats what you're looking for, go get another car.

7andan8

Good luck with that. You can talk price all you want, when you say "I want to lease", they'll take you in the finance room and give you a payment. You won't have any idea what the working price is. Unless you have the program that figures out lease rates, with the lease term and the ending value of the car, you'll be lost I'll bet. With leasing the whole game is payment. You want to be at $350/month the only thing that changes is the amount of your downpayment to get there.

flnsx

7andan8,

Are you new to buying cars and leasing?

If you know the MF and the Residual you are fine.

It's VERY easy to negotiate a lease if you are a knowledgeable person.

I have access to the current rates set forth by manufacturers on a monthly basis.

The Residual on an RX8 is bad but the auto’s are even worse. I don't think these cars lease out well at all.

Mazda needs to inflate the residual to get people into these cars. Infiniti and Jeep do it all the time.


I just wanted to know if someone that knows what they’re doing has a good lease story with numbers that back it up to tell.

7andan8

Am I new to it? If only you knew.

I'm not sure why you have the same question over and over again though. You've answered it yourself, the RX8 has a low residual value! Therefore you have to pay more for it in the first two or three years (lease). Mazda can't just waive a magic wand and raise the residual, it's based on what the car is expected to be worth at lease end.

What are you trying to do anyway? Do you want to keep this car for a long time? If so, leasing will only cost you more. But you seem to know better.

nycgps

iTrader: (1)

You always talk about the price before u let them know rather you're buying or least. Its going to be different, I've been thru that before trust me.

the *how much do you want to pay every month* thing is a trick that dealerships use to try to get you to pay more interest. Just read edmund report on that one.

wishboneracing

Should clarify... someone above said you can walk away from a lease. Well, that's true when the lease is over. But getting out of a lease early can be expensive.

Also, FWIW, low residual on these cars means high depreciation, which increases the cost of ownership whether you lease or buy or whatever. Over a given period.

smithsonga

Where can I find the latest lease rates for the RX8?

I can calculate the payment on my own, but need the residual and MF.

thx

smithsonga

Holy cow...I just found them. MF is CRAZY!

http://forums.roadfly.com/forums/fin...8313334-1.html

2007 Mazda RX-8 Grand Touring Coupe / Compare Bank Lease Programs HERE

24 mo/15k mi – Residual Value 60% of MSRP – .00348 Base Money Factor Rate
36 mo/15k mi – Residual Value 51% of MSRP – .00340 Base Money Factor Rate
48 mo/15k mi – Residual Value 43% of MSRP – .00244 Base Money Factor Rate

flnsx

With that MF It would be VERY important to get the lowest price on the car as possible.

What price should I go for on a car that has a $32,365 sticker? It's an 07 auto.

fray

iTrader: (1)

Since the 07 is the same car as the 06.. figure out what the 06's are going for.. then add a grand since it's an 07. I suspect you'll end up at about $29k. But that's just a WAG.

RX26b

If there was only a $1000 difference between an '06 and '07 it would be a no-brainer to take the newer car everytime. On a $32,000 MSRP I'd look for at least $8000 off on '06s and for '07s I'd look up the invoice minus holdback minus any rebates as my offer. Either they take it, or you move on till you find a dealer that accepts it. You will be able to buy for that. Guaranteed.

Werdie

if you guys think that there is $8000 gross in vehicles your highly mistaken. 90% of the new vehicles on a lot have between $2000 and $3000 of gross. (MSRP above invoice)

There are many things to consider of course... '06 vehicles usually have some kind of dealer rebate to get them off the lot....however '07's usually just have good interest rates depending on brand and model. Most dealers don't tell you about the dealer rebate, so that way they can sell to some people at full MSRP and make a good profit. Some dealers/salespeople decide to sell full discolsure and tell you up front what the incentives are.

The one thing that really iritates me about people negotiating price (which is why I don't try and rape the salesmen) is that your essentially making the salesman live off ramen noodles. Chances are they would only make $300 CAD out of selling anything but a Ford Super Duty or Dodge diesel truck for full MSRP. Once you get rid of all their gross all they make is a flat.....and how would you like to work 40 hours one week, make one sale...and only get $150 out of it?

RX26b

That's mighty noble of you to put the car salesman before yourself, Werdie. Thing is, his pay scale is not my concern- if his boss only gives out "minis" while counting the millions in profit his store makes, tough luck, find another job at another dealer or in another industry altogether.

Invoices are fake these days anyway. Due, in part, to the fact that they're accessible by anyone with an internet connection. Do you really think the public is gonna know how much (to the dollar) they truly make on a car?

7andan8

I don't know if I'd say dealer invoices are fake. They are what they are. On a popular vehicle that sells well, they don't have to go under invoice. On a slow seller, they advertise money off of invoice. It's still the common price for a vehicle used by ever dealer. Now the dealers "holdback" is the extra money your local dealership owner gets. Usually $600 - $1000 below invoice. Often the employee price for companies like Ford is the same amount as dealer holdback. Rebates come from the manufactor (not the dealer). If one dealer tries to hide rebates, he soon would be out of business. Unless he has a dealership on an Island with no other competition.

I doubt that the invoice on an '07 is much higher than the invoice on an '06, but the rebates will be on the '06. $2500 - $3000 off sticker to the invoice, and then whatever rebate applies. If you get it lower than that, you're into dealer holdback.

RX26b

Sure, they are what they are. I guess what I really meant was that the true cost of whatever car from the factory to the dealer is a lot more unknown than it used to be. Case in point: I bought a brand new '95 Integra that MSRP'd for $20,770, that had an invoice of around 17,800 IIRC. Now take a base '06 RX-8 of 26,995 of which the invoice is a tick over 25,000 (according to KBB). So not only have you got significantly less money right off the bat on a more expensive good, but you didn't even take into account the fact that $3000 in '94/'95 is over $4000 in today's money, yet the "official invoice" (that everyone and their brother can find in less than 10 keystrokes) only shows 1/2 the gross margin that there used to be before every buyer discovered what an invoice is.

Ever seen the invoice on a Ford Focus? Or better yet, check out the Hyundai Elantra. $15,000 base car and there's a $400 markup from invoice to sticker? What incentive would that be for someone to want to own a Hyundai franchise- so he can supposedly make the same profit on a $15K car as the appliance guy down the street makes on a tv that's less than 1/10th the cost?

The "invoice" merely exists as a fake bargaining tool. Yeah, lots of salesmen will bitch and moan about having to do one of those deals. But, the thing that they don't know is that the holdbacks the owner receives (some like Kia and Hyundai stores receive tens of thousands back each month) aren't just money to pay the light bill, but rather massive profit on the back end; and the commissions paid out don't dip into that money. So can you blame the consumer for wanting a better than invoice deal? Hell no. The only one to blame is the head chief sittin' pretty who signs all his employees paychecks.

23109VC

I'm also looking at leasing an 07.

best deal i've found so far is roughly 500 over invoice... minus the $1500 incentive.

you can get a lower selling price on left over 06s.... but the residuals/etc will make the lease not worth it...

if you are buying...get a left over 06.
leasing - just go new.