MazdaRich

Has anyone gotten any wind on an incentive on the RX-8 in June? I'm sort of holding out for at least some rebate, but maybe dealers will be wanting to get rid of cars so bad at the end of the month they'll deal on them.

Jedi54

iTrader: (7)

Rich, I'm in the same boat as you are...

Some people on the forum were saying that we should be hearing from MNAO around the 2nd week of June. *crossing fingers*

You holding out for an '05 also?

MI_FamilyMan

Don't waste the entire summer without your 8, just go out and get it!

MazdaRich

Yeah I want an '05. Don't they usually start rebates at the beginning of the month?

Jedi54

iTrader: (7)

No, not really at the beginning of months...

Pretty random when they release them. Just based on when they finalize their product line for the following year and on supply on hand.

I'm lucky that my car won't arrive until approx July (ordered a few weeks ago) so I have until then for Mazda to release some stinkin' rebates.

Kawika

Can you still order 05 cars?

Strat

I ordered a 05 on the 12th of May. According to my dealer this was the last day to order a 05. They told me this about a week earlier, so I have no reason to think they were telling tales.

I went in yesterday and saw an email/ VIN/ build status from Japan about the 8 I ordered - I can't wait!

To top it off, I had them agree, in writing, that if I want to wait for a 06 because of a feature or a change in model year roll, I could – even when the 05 is delivered.

Tremor

2005 RX-8 6-Speed $299/Month, 24-Month Lease, $2,598 due at Lease Signing. Includes 1st Month’s Payment and Security Deposit. Excludes taxes, title and fees.*

* The Amount due at Lease Signing is higher in the following states: North Carolina ($2,993); Virginia ($2,993); and West Virginia ($3,010).

** Dealer participation required. Not all lessees will qualify for lowest payment through Mazda American Credit. Some payments higher, some lower based on residency and other factors. Not available for NY residents. Lessee responsible for excess wear and mileage over 24,000 at $0.15/mile. Total payments of $7,176. Purchase option at lease end for $16,187. Take new retail delivery from dealer stock by 7/05/05. See participating dealer for qualifications.

XerEagle

I for one, waited to buy an RX-8 with incentives. Saved me money and I got the car I wanted while paying a lot less by being patient. I agree with Jedi54 about incentives being random.

I advise using the Mazda site and looking a different areas (zip codes) for different incentives. In our area the 6’s had $3000 incentives while 100 miles north, they only had a $1000 incentive. You can also use the Internet – I had one dealer who would deliver the car I wanted (no charge) for the sale. That then enticed the local dealers to start dealing for my business. Remember – have the patience to walk away. Let them call you back…

Jedi54

iTrader: (7)

I'm checking mazda's website DAILY but still no rebates on purchasing an '05.

They better hurry up with these rebates because my RX8 is scheduled to be delivered some time next month :D

MazdaRich

The current lease deal runs through July 5, so there might be something on purchases after that. I might wait a few weeks if leasing doesn't work out.

Razz1

You can always continue your payments and end your lease when you want to.

You have all the time in the world.

cLLcLe

San Diego doesn't have any incentives....
Well! Who cares! I can't wait any longer! I GOTTA GO GET IT RIGHT NOW! (No, I'm seriously really going to go get it right now ) SUPER HAPPPYYY

Jedi54

iTrader: (7)

Don't forget: Mazda lease deal expires after this weekend!!

I'm REALLY hoping to see some purchase incentives after that. *crossing fingers*

MazdaRich

Couldn't wait... I went with the lease deal.

dwynne

Keep in mind that in addition to the low money factor on the lease (around 2.5%) they have $2k in MAC lease money as well. So if you negotiate a price of invoice, then take away $2k from that - and $500 more if you can use the Gerber, then lease for 24 months with a pretty low payment.

If you like the car and want to keep it, the residual is 59% of MSRP which will make it under $20k for even a well equipped GT. And I am betting the MAC will have to deal down off of that when all these 8s start showing up back at dealers lots in 2 years. You may be able to work a deal like BMW owners have done - return the car to the dealership and then buy it back as a CPO car - or just at a discount. The lease banks will often offer the car at a discount to the turn in dealer to save on shipping costs and to prevent the car from going to auction (where no one will pay much for a car). So if you make arrangements with a friendly dealer you MAY can save more.

Of course, if the Mazdaspeed twin turbo is out in two years then while everyone else is struggling to find a buyer for their used 8s, you will just turn yours in and lease a new MS 8 :-)

Dennis

Sigma

The lease rates you see always mention significant downpayments. Does anyone know if you HAVE to make those downpayments to get those rates or if those downpayments are made XXXX dollars so that they get the payment price down to a nice number like $299/month?

I don't want to pay anything (or very little) down on the car, but I might just take advantage of the $2000 rebate deal on the leases to get a car if purchase rebates don't kick in after Monday and just lease it with the intent to finance the residual at the end of the lease term.

vortarian

Some dealors (http://www.freewaymazda.com) are high volume & get the incentives/rebates for leases for either cash or finance. Check the dealers, it does change. Bought mine there not long ago & I was able to get the leasing incentives on a finance.

Sigma

It's not the volume that matters, it's the region. Some regions have more of a glut than others and started the rebates on purchases a bit earlier. Some regions don't even have the lease offer.

dwynne

"With approved credit" you can pay as little as $0 at signing (a sign and drive lease), or just pay the first month's payment, or pay a lot. There is normally a security deposit with MAC (one payment rounded up to the nearest $50 - so if your payment is $426 then the security would be $450). If you pay a slightly higher money factor (0.00015 higher) then they waive the security deposit. You can also roll the $475 lease acquisition fee and deposit into the cap cost of the lease. It works out (in this case) to pay the higher MF and waive the deposit than to add that into the cap cost of the lease.

When they work out the numbers for those promo deals, they strive for some nice sounding payment. To get $299 a month for 24 months on a base 6mt you have to put some money down. In the real world, you negotiate the price lower than they have in the deal, get more options, and can pay less at signing.

I like to waive the deposit and roll the acq fee into the lease, but pay first month's payment and tags/taxes at signing. The more you pay, the cheaper the payment. The more you roll in, the higher the payment. I would NOT pay a lot down to get a low payment. In the even the car is stolen or totalled you insurance would pay off the lease bank and could leave you with nothing for the money you sunk into it on the front end. Keep the extra money in the bank and use it as needed is a safer way to go.

Let me work up some numbers and post them.

Dennis

dwynne

A couple of lease examples. We will assume MAC "0 tier" credit (the top rating). With the tier system, someone could still qualify for a lease but at a higher rate. For the 24 month, 24k mile lease the residual is 59% of MSRP and the money factor (with waived security deposit) is 0.00122 (2.928%) for "0" customer. The residual would be the same for everyone, but a higher MF depending on credit.

2005 6mt w/sports pack. $28,735 MSRP, $26,756 invoice, $26,756 negotiated price - $2,000 in MAC rebates. Residual is $16,953.65.

If you roll the $475 acq fee into the lease and just pay the dealer fee (if any), title, tags, and first month's payment at signing the payment would be $396.35 a month plus tax.


2005 6mt w/GT pack $31,685 MSRP, $29,294 invoice, $29,294 negotiated price - $2k in MAC rebates. Residual is $18,694.15.

Rolling in the acq fee and just paying first month and various tag, etc fees at signing your payment would be $434.80 a month plus tax.


Taxes vary from state to state. The most popular way to tax leases (it seems) is just to tax the payment. In other states, they tax the total of the payments but it is due up front (or you can roll this into the lease). In a FEW states they charge tax on the WHOLE CAR, not just the depreciation (most folks don't lease in these states). Some charge tax on the depreciation up front (your price - residual).

Where full tax is not paid up front, generally you will owe sales tax if you buy your car at the end of the lease.

Also, in most states rebates are TAXABLE - so if you get $2,000 in MAC rebates and your tax rate is 7%, then $140 in tax is due - or just figure the rebates are worth $1,860.

If the car you select has more options, then the payment will be higher. Keep in mind you are only paying for the differnce betwee 59% of the option's MSRP and your price (should be priced at invoice). So a rear wing spoiler is $285 on the invoice and adds $355 to the MSRP. 59% of the $355 is $209.45. So you are paying for $285 - 209.45 for the spoiler divided by 24 payments = $3.15 a month plus interest. NAV is $1,721 on the invoice, $2,000 on the MSRP. So you pay for the difference between $1,721 and (0.59 x $2,000) = $541 / 24 = $22.54 per month plus interest.

Let me know if you have any questions. The current promo expires at close of business Tuesday, July 5.

You can build a car at MazdaUSA and then apply for the lease online and get instant (or there abouts) approval online. You DO have to pick a dealer first - so you might want to find the car you want and negotiate the price (should be near invoice or less including dealer fees for most parts of the country) before applying.

Dennis

Sigma

Wow, that's a lot of information Dennis, and much appreciated. It may come very much in handy if Mazda doesn't put the rebates on purchases next week.

dwynne

The new specials are posted - continues the 24 month lease special and they now show $1k in MAC money. They had $2k for leases and bet they still do, now they have $1k if you do a MAC loan.

Dennis

Sigma

Yeah, I've been checking all day. Something happened with their database or something because it's saying a bunch of Texas zipcodes are invalid. Glad to see they brought over some money, but leasing with the i intent of financing the residual in 2 years might be the best route.

Unfortunately my wife was laid off today. So the RX-8 has been pushed back until she gets a job again, which hopefully won't take long.

dwynne

Sorry to hear about that. Look on the bright side, you could have signed the lease contract last month and THEN found out about her job

I am doing the 2yr lease myself. If no problems and I still love the car in 24 months (and nothing else catches my eye) then I will buy it off the end of lease. My dealer confided that if I turn it back in I should be able to get a "nice discount" off the residual to buy it back. Mazda can't sell the new ones now, there are not going to be able to sell all the used ones in 24 months - not without marking down the price (I hope).

Dennis