How did i do on my lease? feedback please...
 

2005 RX-8 Grand Touring
Black - with black / red leather

Total out of pocket - $1000 (includes first month payment)
Lease payments - $248/month (including taxes)

Lease term: 24 months - with 1000 miles per month allowance.

Buy back $17,995 at the end of 2 years...

Feedback... comments?

thanks,
rg

Sounds almost impossibly good to me. Leasecompare.com gives a monthly payment of >$650 for a two-year lease, with a residual of $17,116, assuming a purchase price of $29,000 with $1000 down. I used an MSRP of $32,995, upon which the residual is based.

Using an MSRP of $33,895 gives a residual of $17,964, close to what you got. To get to your monthly payment, the purchase price would have needed to be $20,500.

And total payments including down out of pocket for 2 years is only $6952

Add add that to the buyback of $17995 is $24947. I bet you couldn't even make that deal on a Mazda3 let alone 8. That is damn cheap if it works out for you.

Damn cheap is right. Another great deal.

fred and czr are correct.

Thanks for the feedback!!!
 

That makes me feel alot better... i just wanted to make sure that the dealer didnt take me for a ride (no pun intended)...

So based on what you are saying, even if i buy back the car after the two years, i still end up with a great deal!

Thanks guys...!!!

-rg

p.s. czr: by the way, i already got this deal and i have the car with me now... :)

It really sounded too good to be true to me. I figured there had to be a catch. Guess it was legit. Congrats on one of the best deals I have heard about.

I got a 30 month lease w/ 15K per year for $274/month w/ same out of pocket. I feel we both did good. :)

Congrats!!! thats a great deal too - this is what i would have had to pay if i wanted 15k per year... but i decided to pass!

Surely you had a trade-in to get that rate. I'm paying 410 for a base model, and that was the rock bottom deal you could get for one at invoice. That's a $27,000 car.

My lease is 36mo./36k for 399/mo. <MT GT Velocity Red w/options up to 32.5k sticker> the residual is about 16k. I think I overpaid, but got the exact car I wanted. I have heard so many good and bad stories about rotaries, that I had to protect myself with a warranty and the ability to throw it back after 3 years. After driving it 2 months, I don't think throwing it back will be an option...wow, what a car.

Most seem to be paying close to $400/mo with little or nothing down for 36- to 48-month leases, so you are not too far off, Torchmonkey.