topaz88

1. I've been reading over the S-Plan documentation and I'm unclear if the dealership is allowed to charge the Doc Fee or Customer Fee (whatever they want to call it) on an S-Plan sale. Anyone know?

2. Also, I'm doing a trade-in on my car. They want to charge me sales tax on the car (I live in Georgia). I would expect the dealership to pay this. The trade-in is only $2500 so the tax is less than $200. Is the dealership pulling a fast one or is this legit?

3. Lastly, I'm doing a lease and they want to charge me $795 for the "Bank Acquisition Fee". Does this seem to high or right on?

Thanks in advance,
Topaz88

b_r

This is OK. You're making a sale and you are being taxed on the sale.

Those fees are anywhere from $400 to almost $1000 and are OK. The things you really want to focus on negotiating is the price fo the car and the money factor.

Something I found when dealing with dealers is that they quote you Mazda American Credit first which has an money factor APR of like 7%. After negotiating, I got dealers then to look at other banks for financing which dropped it down to 4%. I'm not sure if the S-Plan allows you to use other finance companies.)

Lastly, before you sign, have them fax you the entire lease agreement including a breakdown of all fees, and have them explain to you what makes up the drive-off amount that you have to pay when you pick up the car.

Aseras

never trade a car in if you can avoid it, if you owe money on it have them pay it off and then sell your car yourself. the dealer can just add the amount onto the bill if it's not too costly, I'm assuming that since you are only getting 2500 for it it's youer already. I'd just sell it myself. You'll make more money.

Brice-RX8

I would have the sales tax calculated into the trade value because you are going to be double taxed, once for the trade and then for the sale of the new car to you, at least this way you are only paying tax one time and the dealer is eatting the other tax

topaz88

Aseras,

If I sold the car myself I would be lucky to get $3000. Not to mention advertising it, waiting for someone else to buy it, and time for them to get their financing. The extra $500, if I would even get that, isn't worth the trouble. I need the trade-in to lower my payment (it lowers it by $80). I may post the car at work and see if anyone bites, but I doubt I’ll have much luck. Sure I could take the $3000, put it in an interest barring account and pull out $80/month to pay the difference each month, but just don’t think I want the trouble of trying to sell it.

Brice-RX8,
I’m paying the sales tax outside of the lease. Here are the numbers for a 2005 RX-8 AT w/Spoiler. Lease is through Chase with a term of 36 months, residual of 48% and money factor of .00240. Keep in mind they have not agreed to the final montly amount (were still off by a few bucks, but were close):

MSRP: 26290
S-Plan: 24282
Rebates: -1500
Trade In: -2500
Residual: 48%
Money Factor: .00240
Months: 36
Adjusted Cap Cost: 20282
Payment: 291.82 + Tax = 312.25

Money Down at Signing:

1st Month’s Pymnt: 312.25
Doc Fee: 339
Taxes on Trade-In: 175
Title Fee: 19
Bank Acquisition Fee: 795

Total Due at Signing: 1640.25

What do you think?

clmantis21

all I can say is owning an 8 at only 312.25 a month... you're one lucky guy! DO IT!!! hehe

MikeMaj82

my friend just traded in his car for a new one and he didn't have to pay any sales tax on it.

Mike

valpac

iTrader: (2)

I've used S-plan twice now and both times the dealer had a doc fee. I called Mazda Corporate on it and asked if dealers were allowed to add these fees. The S-plan paper work from Mazda says that Holdback, Doc Fees and Admin fees are INCLUDED in the S-Plan price. However, Mazda said the dealers are allowed to add "reasonable" fees on top of the S-Plan price.

Kinda stinks but thats the way it is. I know, everyone will tell you everything is negotiable. And that is correct. But I have tried unsuccesfully to get them to waive those fees on S-Plan purchases and they simply would not budge. I am 0 for 2.

You have to ask yourself are you willing to walk out because of the doc fee? I really wanted the car(s) and paid it. Knowing I was getting a killer deal certainly helped.