jgoldstein2000

Just got into a new rx-8 (MT, GT package, 5 disc, spare tire, rotary accent). I did a 4-year lease deal and went in thinking I would get 3500 cap cost reduction...

I could have gottent $3500 if I used Mazda credit financing but I since have great credit I was able to get a much better money factor through a different lender (US bank through the dealer) and only got the $2500 cap cost reduction.

0 down
100 over invoice (possible I could have done better)
366 a month (including 8.5% tax in San Fran and $899 bank fee to get good money factor)
money factor = .00153
first month and title walk-off
46% residual

curious what terms others got for a similar lease deal on a similar package

Mazdax605

I just got back from a local dealer.They quoted me $309 a month on a base 6 speed in Nordic green.The price was 254xx which is just sligthly($250)over invoice.With the $4250 cash incentive from mazda and then a $475 aquisition fee.That fee could be paid up front or in the lease.The thing that gets me is the Money factor is quite high.It is .00305 which is equal to 7.4% i think.That is the best mazda will do in my region I guess.The manager showed me the figure in a book on leases he had.The other thing is the state of Mass has excise tax ($25 for every $1000 of worth)which is either paid in one lump sum for the year if you buy(or through some leaseing companies)or by the month.In this case it is per month.The figure is $30.xx a month.On top of that $15.00 for 5% sales tax.The figure with out the two taxes is $265 a month.The thing is I looked into another lease company they use to get a lower money factor but the other one they use was even higher.I have great credit so getting the best MF should not be too bad.Also the residual is 65% on the 2 year lease with a 6 speed(62% on autos). so it worked out to $17680 i think.The excise tax is base on MSRP.

All in all $309 a month is not bad I don't think.I have never leased before though so maybe I am missing something.I also asked about gap insurance.They told me it was included in the lease price.I have applied for the credit app,but have not made up my mind on it yet.Oh yeah i was thinking of paying the acqusition fee up front($475) plus they require first($309),security($325),and plate fee.It all worked out to around $1200 bucks and out the door.I suppose I am only really paying the acqisition fee and plates because the 1st payment counts towards the lease and the security I should get back right?Let me know what you guys think.

Jdunsh

Just got mine about a week ago, couldn't be happier.
Two year lease
3000 down
375 a month which includes tax from my town.
At the end of my two years if I want to buy it out it will cost me 19,700.

pktrckt

Mazda x605: Gap insurance can only be factored into the lease if it is part of the overall cost and broken out seperate from the rental charge and taxes. I just recently leased a Subaru WRX and was able to get them to remove the gap insurance(about $500) after repeatedly trying to put it in there. Now there may be some lenders that require it, but I was able to get Chase Auto to remove.

Mazdax605

Thanks pktrckt,I am heading off to the dealer this evening to start all the paper work.I will look over everything with a fine toothed comb.That beingsaid I don't know everything about leases.I have never done it before.I have though read alot on this board and on edmunds.com so I have a pretty good idea of what to expect.I think the deal I am getting is pretty good.$309 a month 24 months 12k a yaer.that includes all taxes.This is based on a base 6 speed.I suppose I should drive it tonight as well.I have driven the RX-8 a few times just not this particular one.I am still a bit nervous about the whole lease thing but I figure I can get out of it if I want.Mind you I will have to pay but thats what I would expect.Wish me luck.I am bringing the TSB on the "m" flash so I can be sure it is done before picking it up.

Mazdax605

Hey jdunsh,what model is that lease for,and what options does it have?

Jdunsh

x605,
I leased the 6spd, black no moonrook, cloth interior, 6cd changer, rotary accents package and the sport package which comes with the xenon lights, the fog lights and the running boards I think below the rear doors, and the spoiler. I think thats it overall I could not be happier.

RotaMotion

Black Base 6-Speed w/spare and wheel locks
$1,500 Down--including $897 Cap Reduction, license, first payment, and acquisition fee
$298 total monthly payment including Tax

15,000 Miles per year
5 year term

$23K Gross Cap Cost
$11,000 residual
$395 Back-end fee if I turn it in instead of doing a buy-out.

I'm happy with this deal and don't see how I could have done any better. So what do the RotorHead leasing experts say about this deal :o ?