I'm committed to getting an RX-8. I'm almost certain I want a 2006. My question is should I lease or buy? I've never leased a car before, but my worry is that in 2-3 years Mazda going to do something big with the RX-8 like a MAZDASPEED FI model or even release a new model comparable to the RX-7.

Now, before you say that "there will always be something better in the future", I know. I'm just trying to determine whether or not it makes more sense given all the facts/rumors out there. If a MAZDASPEED FI RX-8 came out in 2007 (which I would buy immediately) it would be much better to have leased an 2006 model for 2 years. If nothing better comes out until 2010, it would be better to have bought a 2006. Right?

Please forgive my ignorance. I really don't know anything about the world of leasing and specifically with the RX-8. Do dealers given you good trade-in deals for a current car when you lease like they do when you buy a new car? Any info would be appreciated.

 

I heard they were skipping the 2006 and going right to the 2007 models...well at least it has been rumored at a few dealerships around here in Northern VA. I have been looking for a lease deal and apparently there aren't any available right now because there are only 05s left...I don't exactly understand why but no one around here will lease me an RX-8 right now...

Someone correct me if I am wrong.
Joe

 

The 2006's aren't supposed to come out until April or so due to plant manufacturing limitations. I don't know if this will affect the leasing aspect of things, but they certainly can't lease you a 2006 car that they don't have yet.

 

there is no such thing as good tradein value from a dealer
and lease is almost always a bad deal .. just buy

 

Never lease.

 

Buy - end of year. that way you do not eat all of the depreciation. At the end of two or three years of loan payment - you'll have some value in i - for the next RX-8.

Lease sounds good until the end when you own nothing and owe that the dealer says.

 

IMHO there is nothing to gain in getting a 2006 - over a 2005 or even a 2004 if there was a NOS one out there. Warranty is the same - and the car is the same. Especially if you are thinking of upgrading within three years.

Just my 2 cents.

PS The best car is one that is paid - just one payment away from owing my 01 SLK320.

 

Depends on what's important to you. I want a car with 0-5 miles on it, the color I want, the options I want, and the cool new keyless entry system. I agree that it's better to wait until closer to the end of year, but I doubt I will ever buy a used car ever again if I can afford it. Also, I may go for the AT (I know, you all shudder at the thought) which makes the 2006 the only option.

 

In my opinion, the only time a lease makes sense is if you can write off the lease payments on your taxes. So if you have a business where you can write off the lease costs it does make sense. That way, your out of pocket costs will only be two-thirds of the monthly lease costs (as Uncle Sam will be paying the other third).

But you still have to account for the personal use of the car and you can only write off the portion that corresponds to the business use of the car. The IRS requires you to keep a log, but you get to maintain the log (know what I mean wink wink)

I've kept my last two cars for 10+ years and expect to keep this one for that long as well. I never lease, I only buy.

 

I agree! Buy,never lease.

 

There is no single answer that works for everyone. In my case, I could have paid $12,000 and financed for 5 years at $400/mo, or leased for nothing down, had payments of $400/month for 48 months, with a residual of $14,000. So the queston was, did I want to pay big up front or at the end (assuming a lease/buy)? Did I want to pay a little more in the lump-sum amount or be able to own the car outright in four years instead of five? I decided to lease, having never leased before. I don't regret my decision. The $12,000 I did not put down was loaned to my son, but could have been invested in a mutual fund. Leasing also gives me the advantage that, if things change, and I decide I don't want to buy this car, I can walk away from it at the end, without having to worry about resale value.

If you want a new car every few years, then leasing has lots of advantages. If you plan to eep the car for a while (after apyments are over), then buying has advantages.

I provided all my calculations in an earlier post in this forum. PM me if you want to discuss more.

 

My last and only personal car lease was many years ago - but if I remember "Walk Away" is not always the reality. The dealer can assess that the wear and tear is abnormal - and charge back to the lessee what he decides.... then perhaps court. The end of a lease is not always pretty.

I agree - a business car loan can make a lot of sense - due to its simplicity - although the usage log for either bought or leased cars can be reviewed by the IRS. .... ugly

But to each his own.