rx8wannahave

Please let me know what you think...

IF you went the red sport package RX-8 with the CD changer (it also has the spare tire & 6spd) and you leased for 48 monhts and put $2300 down your payment will be$339 a month, on a 36 month lease your payment will be $379 a month and if you were to retail this car it will be $475 a month. I truly hope that one of these plans will work for you. They are all subject to final approval from Mazda. Please let me know if you would like to stop in and finalize the details."


What do you think?

Gomez

Don't let your wife use the internet!

rx8wannahave

Huh? LOL...but I remember...you almost KILLED the dream...LOL, just messing...I"ll always remember you as the rx8club member who almost killed the deal
LOL
LOL

Gomez

...and with that in mind, may I say that it's an incredibly good deal and you should go with the 36 month option. A shorter deal is a better deal, less interest. And save a few dollars, go without the spare wheel. You'll never use it, it takes up too much space, the car comes with a puncture repair kit and you have roadside assist anyway.

Oh, and don't believe what an Australian says when it comes to Floridian finances, they have no bloody idea what's going on up there... :D

truemagellen

haha :P

ZoomZoomH

iTrader: (1)

this for a new 8 or used 8?

rx8wannahave

New 04 Red 6spd, Sport Package, spare tire + CD changer

I don't want the spare or the CD changer (I could save $700) but I don't think they will take it out of the car...

Gomez

Sure they will. You're the customer. Plenty of other buyers will be interested in that stuff. Don't let them tell you what you can or can't have. On big purchases like this, you have to be assertive, even if it's not in your nature....

rx8wannahave

OK, so you think they will remove the CD changer & spare tire....Gomez, I"ll try...but I think I'm asking too much?

SDB

He said it was a lease not a purchase. There is no interest in a lease payment. You give the car back at the end of 3 years after paying 2300 plus 13644 (379 per month).

Make sure you understand your options at the end of the lease. You can purchase or you may have penalties for mileage or damage.

rx8wannahave

Yeah, I plan on leaseing it...this is just a SLOW down payment (in my opinion), so the purchase option is a MUST. I'm not worried about miliage since I've never put more than 11,000 miles on any car I have ever owned.

I'm going to try and nock some off the price considering that they have YET to tell me the total price which is VERY important. Especially since they are telling me that their "employee price" is better...so then that means the car has to be less than $26,665 (after $1,000 lease rebate that comes to $25,665) so employee price should be even better than that.

We will see...they are being sneaky about the total price so far, but I'll give them a shot. If anything...I'll wait, cause used 8's are going for pretty cheap!

Gomez

Of course there is interest in a lease payment. No-one gives you money for nothing.....

jsh1120

They'll never tell you the total price if they can avoid it. Negotiate the price first. Then discuss the leasing option. On the 36 month option you'll be paying nearly $16000 to drive someone else's car. If your lease buyout is anything much over $11,000, and I'm betting it is, you're being screwed compared to a purchase.

My guess is the buyout is around $15K to $16K making your purchase amount to over $30,000. That ain't a good deal if it's an '04.

Mazda does have some very attractive incentives for leases amounting to about $2500 plus $1500 on an '04. If you can get the car for invoice plus a few hundred minus $4000 on a 30 month lease, you'll be doing well. I'm guessing that is not what the dealer is offering.

rx8wannahave

Don't worry...I am in no rush now that I see the prices of used RX8's so I can wait. I aint buying NO car without the total price...PERIOD.

Thanks for your help...let's see what they say!

G8rboy

Leases can be tricky... easy to hide costs if they're not up-front with you... but those numbers look pretty good. However, you should put a premium on being able to getting a new one ('04) and taking advantages of all the great rebates, and being able to break in the rotary yourself, versus wondering what happened before you got your hands on a used one- especially asking yourself why would they be dumping it after a year or less of ownership... stuff like this:
https://www.rx8club.com/rx-8-multimedia-photo-gallery-6/so-uh-will-void-his-warranty-45662/

ZoomZoomH

iTrader: (1)

*ALWAYS* figure out a out-of-door sale price before negotiating payment options.

KaPGuN

This is the deal that I'm looking into:

2004 Velocity Red 6MT RX-8
GT package
spare tire
rear wing
MSRP: $31,950

$1000 down
$475 bank fee
$300 ref. sec. deposit

$289/mo @ 24 monthes.

residual: $19,490.

So, I'm sure you still have some wiggle room in your deal. Then again, this one is the absolute last '04 that this particular dealer has, so im sure their eager to get rid of it, especially before it starts to snow out here.

czr

iTrader: (3)

Kapgun, that's a damn good looking deal!

Gambit

One dealer was trying to talk me into a lease, and one thing I found out is that the more miles per year you say you'll be driving, the less you'll have to pay if you want to buy the car at the end of the lease (more miles = less value). But if you say higher mileage, then it will cost you more to lease...try to figure out whether you can save more money with higher miles/yr and lower buyout, or lower miles/yr and higher buyout

rx8wannahave

There latest offer...


The lease payments I sent you are the best possible deal. The closest we can get to your payment is $339 a month for 48 months (which is the length of the warranty) with your trade and $2,300 down. The price you would be leasing this RX8 for is less than what you could buy the same car for new. Again the Cap cost which is what takes the place of the price on a lease is $25,000 before any incentives, after incentives it is $21,500. This is a bottom line deal that I had to work really hard to get for you.


My response...

I had some additional questions to ask and I promise I’m almost done. In the original email you said:

$2,300 down = $339 @ 48 or $379 @36

I decided to put more down so now it’s:

$2,700 down + my trade in ($1,000) = $xx @ 48 or $xx @ 36

I need to know the new monthly payments for the 48 & 36 month lease.

Please confirm, I was a little confused, that the price of the RX8 (BEFORE rebates) is $25,000. That price beats the S-Plan so I think that’s a good price.

Please confirm that after my down, trade in, and lease rebate it will be $21,500 that I would be leasing.

Finally, what will be the residual value of the car? The price I would pay to buy the car after the lease.

Gambit

The prices you ought to get are something like 330/mo for the 48 month lease and 365 for the 36 month. Definietly get the value at the end of the lease (you can finance that too if you want), and also find out what the estimated mileage per year is, you can play with that to adjust your price

KaPGuN

thanks, caesar, that includes the $500 coll. grad rebate too, btw, forget to mention. I want to get it, but my issues are as follows: wanted winning blue or titanium not red [dont have a choice tho, thats their only 2004]; wanted touring package [b/c its cheaper, don't really care for leather, although this lease deal looks pretty good to me anyway]; finally, i have no clue how expensive insurance is, NJ insurance is killer...

other than that, the options are spot on.

fredw1

For a cap cost of $21,500, lease payments over four years should be in the neighborhood of $250 assuming a money rate of .0017 and a residual of $13,900. Since you know the cap cost, and the residual is fixed by the bank, the only thing that can be inflating the lease price is the money factor. For payments to be $339, the money factor would be a bit over .004, which is close to a 10% interest rate. Doesn't sound like they are doing you much of a favor.

Gambit

KaPGuN...Geico just came to NJ, try them out, as well as NJCURE for insurance, and btw, you'll like the red, trust me

dag

Kapgun - see if you can get NJ Manufacturer's. I pay <$900/year full coverage (500 coll/100 comp) and just got a >$200 dividend.

dag