Hyperborea

Has anybody bought out their RX-8 at the end of the lease? What was the process like? Were there any fees? This is my first lease and I just want to know wha to expect.

Thanks

SC-ed

https://www.rx8club.com/purchasing-financing-insurance-56/anyone-done-end-lease-buy-out-mac-111015/

Hyperborea

Thanks for the thread reference but I was already aware of that thread (I participated in it). It discussed negotation of the buy out price but no mention was made in that thread of any dealer fees or the interaction with the dealer. As I said in the first post in this thread, that's the information I'm looking for.

Thanks

Razz1

I have leased several cars. The mfg. lets you continue payments. You don't have to turn in the vehicle just continue payments.

Of course you can always buy it.

Just wanted to let you know you have another option.

SC-ed

If you buy out from the original dealer you pay the dealers doc fees, license and sales tax. If you buy out from another dealer (my case) you pay acquisition fee again on top of that.

Hyperborea

Ok, I bought the car on Saturday at the dealer where I originated the lease. They were good about the whole buy-out procedure, the original leasing, and any maintenance / recall work I've had done there - Oak Tree Mazda in San Jose, CA.

The total fees were: $125 for inspection (legally required); $45 paperwork; $8 smog exemption certificate; and $15 DMV registration transfer fee.

One oddity of this whole process is due to the MAC procedure - you don't buy the car from MAC. The car ends up being bought by the dealer and you buy the car from the dealer. My RX-8 was owned by the dealer for about 40 seconds between signatures on documents. This is the reason for the $125 inspection fee - the dealer is selling me a 2 year old used car and must inspect it first.

Also interesting was that before we started the paperwork for the dealer to "buy" the car and then "sell" it to me there was a bit of paperwork on ending the lease on which I signed and guaranteed that I was going to buy the car. I guess that's so that I don't stop signing documents half-way through the process and leave the dealership on the hook for the car (after they've "bought" it and before the "sell" it to me).

Mugatu

iTrader: (1)

if you didn't decide to buy at the end of the lease, would you have had to pay a disposition fee? i have that fee right now for a leased 8 that I turned in, and was wondering if there is any way around paying that fee - i know it's in the fine print of the paperwork, but is it even possible to negotiate it?

Hyperborea

Yeah, there was a $395 IIRC (I don't have the docs here at work) disposition fee.

Will they negotiate it? I'm not sure since I didn't plan on just turning the car in - I was either going to buy it or use it as a trade on another car. If I had to guess I would say no. Why would they? What reason would they have for giving up this money? Maybe if you were going to buy or lease another Mazda they might. It can't hurt to ask though.

Razz1

You can't trade your lease in on another car. You don't own it.

There is no residule value. You have no investment.

Hyperborea

Any positive difference between the trade-in value and the buyout price of your leased car can be captured by you if you want. From my discussions with others this can often be done by having the dealer that you are trading the car to buying it out from your leasing company. However, because of the way that MAC has the car pass through the hands of a Mazda dealer (just for a fleeting moment) as it's bought out may mean that you would have to buy it out yourself and then trade it in. Still effectively trading the RX-8 in even if it took a few more steps.