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buying Vs leasing.

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Old Jun 3, 2004 | 11:20 PM
  #1  
dungdori's Avatar
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buying Vs leasing.

I really love 8 which should be my next car.
But I usaually drive a car once or twice a week at most 100 miles.
And I have a plan to get married in two years. So I wil change 8 to bigger sedan in 3 years.
So I am wondering what is better choice between buying and leasing. Is leasing much depending on credit?

Plus if I will buy the used rx-8 w/ Touring package, is 23k possible in CA?
Thank you.
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Old Jun 4, 2004 | 03:10 PM
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* Leasing is dependent on credit. If you have bad credit, you can't get a lease.

* Just getting married doesn't require a bigger car. The 8 does seat 4, after all.
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Old Jun 7, 2004 | 03:36 PM
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How long can you lease a RX-8.
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Old Jun 9, 2004 | 04:28 PM
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I will lease

at most 3 years. maybe I would be 2 years.
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Old Jun 16, 2004 | 11:26 AM
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From: San Diego
Given the factors you have listed; short term ownership, limited driving mileage and state of CA, I would HIGHLY recommend leasing the RX-8 vs. buying outright.

The big reasons are state of CA and short term ownership. In California, as in most sales tax states, you pay taxes on the entire value of the vehicle when you purchase it. Where as when leasing the vehicle you pay taxes on your rent/monthly payment. With lease payments running around $325-350 a month for a 36 month term you are looking at taxes of about $1000. If you were to purchase a new or used 8 for 23-26k you are looking at about $2000 in taxes.

Another advantage to leasing is that Mazda is offering $1500 to dealerships for leases on the 8 not outright purchases. Factoring in the difference in taxes and discounting offered, you stand to lose a few thousand dollars right off the bat. Not to mention the financing charges as I am guessing you will not be paying for the vehicle outright.

See Edmunds for details on the discount.... http://www.edmunds.com/new/2004/mazd...ves.3.6.Mazda*
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