budaman2

Mazda just announced a $1500 lease cash program for the RX-8 on leases of 48 months or less. The customer has to sign a form that the dealer must send to Program Headquarters to get reimbursed so the dealers won't be able to hide the money. The residuals and money factors stayed the same, but the extra money should reduce the payment $40 - $50 per month if all the other factors are the same as the previous lease program.

boothguy

budaman: know whether Mazda restricts it to personal leases versus corporate? I haven't signed docs yet for my car's lease 'cause it's STILL on the truck, so I've got time to react. Thanks!

budaman2

It doesn't specifically state that, but it does say that it is good on any lease 48 months and less that is consumated through Mazda American Credit or any other qualified lender. I take this as meaning if you can get a better residual and money factor thru another source ie: Chase, Bank One, Wells etc. you can still get the money. I don't think it would apply though going to a secondary leasing company such as Apple or the like since those companies buy the car directly from the dealer and are not the end customer.

boothguy

budaman: can't find a word about this program on either Mazda USA's site or on Mazda American Credit's - and they're shut down for the holidays. Can you point me in the right direction here?

budaman2

There probably will not be anything up on the National sites until after the holidays. We were informed of this program last night and its up on the dealers Dealerlink under applicable programs for the RX-8. The forms for the customer to sign were put out over the dealers Email system.

Speed_racer

Hi Budaman,
could you please explain in a little more detail what you meant about the $1500? Is it a rebate? Thanks a lot.

budaman2

It's not a rebate per say, in that it only applies to leases and not to a conventional purchase. It can be shown as cash down so you wouldn't have to make the first payment and would help offset your taxes so you would need less money out of pocket when you originate the lease.

sniper

Just leased a new RX8 through Huntington National Bank - Rate was cheaper than Mazda. The lease program began Dec 23 and runs thru February.

fernando

To get the $1500 you have to lease from mazda. There is much to weigh here, like how much extra does leasing cost you in the long run versus today's low interest rates for a buy. Leasing only works in most long runs if you can legally write off each payment and/or you do not intend to keep a car beyond the lease period. As long as good credit gets you 4-5% at 60 mos. leases look less inviting except for a complete business write-off.

bon911

They take 1500 off of cap cost to start with... then however much you negociate the price down from there.

fernando

Always negotiate your best price, lease or buy, that's a given. The 1500 is lagniappe as we say in LA, but it is only on the leases.

RX-jimenez

2004 MAZDA RX8

$2,500 OFF MSRP

NO DEALER AD-ONS! TRUE DISCOUNT
THIS IS ON DALLAS TEXAS.......

fernando

You could get a deal like that in Louisiana within a month of RX8 arrival. I had a friend from the Dallas area fly in and buy a red GT in Sept. In the past, Dallas area dealers have used dealer add ons in the advertised discount. Dealers in general are loose about the term MSRP which is suppose to be the original sticker from the factory. Besides, let's face it.....most advertised prices are hooks to snag a person to the lot.

boothguy

Uh, my dealer claims that the $1,500 is a dealer incentive and does not affect the price or is deducted from the total cap cost. In other words, the dealer gets it - not the customer. Can anyone give me an authoratative comeback or contact at MAC/MNAO to get the real facts?

budaman2

In order for the dealership to get reimbursed for the $1500, the customer has to sign the RX-8 Statement of lease form that MNAO sent out to the dealers. The $1500 has to be used to either reduce the cap cost or shown as down payment. The dealer cannot ethically( I like that word) take the money without disclosing it to the customer. I just did one on my wife's RX-8, so I know how the program is supposed to work.

boothguy

Hey Budaman:

Called my dealer on New year's Eve and read him the content of your post verbatim. He promised to call me back "within 30 minutes" with an answer, promising, "..if you're owed any money, you'll certainly get it..". Hell, I can't even get a return phone call for seven calendar days.

Any idea who I can contact at Mazda to find out the authoratative facts?

budaman2

There are a couple of things you need to make sure are done: You need to sign the lease cash back form, the contract needs to be dated Dec 23rd or later and the dealer needs to report the lease under the 'K' financial code in the RDR screen. You could probably call Mazda Program Headquarters to get any further questions answered. If your dealer can't seem to find the form you need to sign, PM me and I can fax you the form if you have access to a fax machine. MPH # is (248)848-7300

boothguy

Just got off the phone with Mazda Program Headquarters. For the record, Mazda's position is that it is in fact "dealer cash". It can be used as a selling tool by the dealership (reducing the selling price, to be applied to the down payment or whatever), but it does not have to be. In my case, the dealership pocketed the money, even though I never signed the subject form, and that's within the guidelines of the program.

Bottom line, I could have gotten a better deal with this program, but the price was negotiated before the program came into being, so my $500 over invoice deal was a good one at the time. The dealership simply stumbled onto $1,500 in "found money" that they didn't have to share with me.

Potential lease customers should, however, be aware that this $1,500 carrot is hanging out there and should be used in negotiating the sell price (total cap cost) of your new RX8.

budaman2

One thing on top of Boothguy's response is, in order for the dealer to get paid the $1500, they would have to send in the customer statement form. If they don't disclose this to you, they would have to forge your signature on the document. This form has to be mailed to Mazda Program Headquarters for the dealer to be paid.

Rambling Man

Does anybody know when in February this offer expires?