m82492

The offer I got is on a 2005 Black RX-8 with the Grand Touring Package. Sticker is just over $32,000. It's a 42 month lease at $300/month with $1000 for my crappy trade and $500 Gerber rebate. Nothing else out of pocket. The only things preventing me from doing this are:

1. Is the deal good? From everything I have read I will get no better offer?

2. So many negatives about the Bose I might just back down from that package.

3. I live in PA so snow could be a factor.

I really want this car but I'm looking for some opinions on thsi lease.

Thanks

Rhawb

Only problem I have with the Bose is lack of any low end...at all. I listen to rock and that didn't even have enough bass, so it's not like I'm expecting the thing to boom. If it's really a problem, just fix that up and I think you'll be fine (one 8 or 10 would probably do the trick and then some).

czr

iTrader: (3)

That is a great lease deal esp for a grand touring. I see lease deals in the 500s here and your down payment is cheap for only $300 a month. Check leascompare.com to compare prices. Just make sure you drive withing your mileage limits.

I've changed to all aftermarket systems in my other cars including a boston acoustics system in my other car and the Bose is decent. Just needs a sub and maybe change the rear speakers. The offer is way too cheap to pass up.

Snow will not be aproblem if you get a set of snow tires for winter use ~$800. Do a search-from what I hear it's excellent in the snow.

conedodger

I got my lease in late October of last year on an '04 base model manual w/ sport package that retailed for $28400. With $1500 out of pocket, I'm paying $274/month for 30 (yes 30) months w/ 15K per year. The first quote I got from the dealer was for around $350/month for 36 months. Forget that! I then saw an add from another dealer for a $199/month for 30 months. I think they were short their quota for the month or something. Anyway, after getting a written quote from them for what I wanted, I went back to the first dealer and showed them the figures. They petty much matched the other dealer's price. The paperwork shows lots of discounts through Mazda. The first quote I received from the dealer was through banks. My lease ended up being w/ Mazda and I'm quite happy! Now, why couldn't my dealer give me a better price at first? Because they were greedy, knew of all the discounts, but wanted the extra $$$ to keep. When they saw that I was serious (outstanding credit helps) and the paperwork from the other dealer, it was either match it or lose me. They chose to match it. I'd work several dealers against each other and do your homework. Your deal on a more expensive car doesn't sound too bad and it's a shorter term so you'd probably have warranty for the duration. I live in N/E Ohio but I'm driving my Camaro through the winter. Next year it will be snows for sure. Good luck!

m82492

Thanks for your input everyone. I plan to go do this deal tomorrow night as long as it doesn't snow!

DaGnome

Wait... did i read that right.. 32k MSRP, 42 Mazda lease, 1500 down (rebate + trade), and payments are only 300/mo??

Damn that is a NICE deal.

I was searching dealerships myself this weekend, and the best deal I could find here in S Fla, was this one:
2005 Pearl White, MT Touring, Appearance and Rear Spoiler,

42 month lease
418/mo
1st month, Tag& Title down ~ $650

And I thought I found a good deal

Wonder if the dealership would let me buy from up there and ship it down to Fl :P heh

conedodger

Don't forget GAP insurance!

dwynne

Did you do the deal? What is the money factor and residual on your lease? I assume it is through MAC?

Thanks
Dennis

b_r

I, too, would like to know what MAC's money factor is. Please ask the dealer to supply you with the residual (which is what they consider your car is worth at the end of the 42 months) and the money factor (pretty much the interest rate you are paying). The other very important numbers is how many miles you are limited (usually 12K or 15K) per year and the agreed upon value of the car (this may not be the MSRP and if it is, you're paying too much). It's also a good idea to get your drive-off cost which is the exact amount you're going to need to plunk down when you pick up the car; it usually includes the first month's payment, a security deposit, some taxes, license and registration fees, and any downpayment -- have them break it down.

If you can supply most of those number, I can even break your deal down to let you know how good (or bad) of a deal it is.

dwynne

He should not have to ask for these details, if he did the deal they are all in the lease contract that he signed. Sounds like to me a promo leave - either a high residual, cheap money factor, or both.

A 3rd party lease on this car (figuring $1500 cap cost reducttion and around $1500 off MSRP) is $488/mo for 36 or $458/39 (36k mile lease) w/$15.5k residual. A 48 month would be $428/mo with a $13k residual.

Dennis

cratica

Smart money does not lease. Leasing (no matter how you try to rationalize it) is a VERY poor consumer decision. It's a lose lose. You pay nearly as much every month and build ZERO equity. Of course you will see some people flame me and post that leasing is a good deal, and I will just sit back and shake my head.

Either pay cash or purchase the car with VERY low interest rate. If you can't do either, then buy a less expensive car until you can afford to pay cash or purchase with a very low interest rate (<4%). The best bet is to purchase a year old car in perfect condition and let someone else take the hit for the first year depreciation. Then you will most likely never be upside down. Never purchase a car that is more than you can afford which a lot of people do which is why they lease. It's just not worth it.

dwynne

Blah, blah, blah. Go back to your Dave Ramsey program and leave the rest of us in peace.

A bad lease, just like a bad purchase is a bad deal. A good lease can be a good deal.

Dennis

Rx-8Lover

hey everyone..i'm a newb here..real excited about joining this cool new community of RX-8 fans. i just read the threads above and i have to say i am shocked. i never imagined you could get a lease on the 8 for $300 or less a month with only $1500-2000 down. that's awesome!!!! i was really depressed cuz i have my heart set on getting the 8 but i thought there was no way in hell i could afford it. i went to a couple of dealers and even went online just to get an idea, and i came u with $460-580 a month. i live in nj and insurance is gonna be expensive as hell as is, could this really be true??? could i find an 8 for $300 a mo??cuz if that's the case i'm trading my car in tomorrow!!!! thanks in advance for your opinions and advice.

dwynne

I never have understood that deal either - an 8 w/gt for $300 a month does not compute. 8s do not lease real well, since the residual is 50% or less on a 3 year lease. Good leasing cars are much higher than that. You can probably get an 8 w/sports pack for $375 or so a month before tax. Unless Mazda has a promo lease deal - where they raise the residual or drop the money factor - it just does not lease out that cheap. They DO have $2k is dealer lease money to help out and dealers are quoting near invoice for new 05s - but even taking that in to account the payments will not be $300 for a GT.

Dennis