zelig2

So I had a quick question about buying an 8 with the lease incentives (assuming it's still going on). I could buy the car with cash but I like the idea of getting quite a bit knocked off the top right at the begining. Say I get the dealership to give me the car for $29k. Could I get the 24 month lease and then pay it all off the next month including buying the car outright? With all the fees and whatnot would this end up working out in my benifit? I've never leased or financed a car before so I'm doing my best to read up on all the strings, normally I just buy a car outright.

xxMax Powerxx

Why would you do that when there is a $3k cash back incentive for buying it outright? You would have to pay all the leasing fees. This isn't a loan, you are contracted for rental fees as well as interest. Loans have no payoff penalties, Leases do.

Selesti

Wtf 3k cash back incentive for buying outright? Where do you see that? Is that only with their financing? o.O

xxMax Powerxx

The dealership told me about it. I ended up getting $2,500 cashback on the lease, but could have had $3k on the purchase instead. 0% interest on financed deals.

gt1

WOW!!! Did they say anymore about the incentive, like manufacturer to dealer incentive etc?
I am also trying to figure out which way to go, lease or finance from the point of saving money.. I know I won't be able to complete a lease because I drive way more than 15k miles...
Any suggestions/advice welcome!

rumatt

Hmmmm. Can anyone confirm this? My understanding is that the incentives did NOT apply to purchases.

zelig2

Yes, please tell us more about this $3k cash back on a purchase. I'd love to have that as an option. It would easily seal the deal for me getting the RX8 in the next few days. They've got the exact model I'm looking for so all I need now is to get the right deal on the car.

xxMax Powerxx

I can tell you this... I sent an Edmunds request to 7 dealerships asking for a blue, sport package (to tall for sun roofs), manual. 3 responded with prices, I then asked each one if there were incentives, along with other questions about the cars being quoted (one had spare wheel etc...). They all said there were incentives, two told me about 0% and $3k cash back. One told me that the lease incentives could get the lease below $300 (not including tax, based on base model of course). Sales reps rarely give you good lease info. This is partially due to their complete ignorance of how financing works and partially due to them wanting you to sit down and talk to them about it. I negotiated -$523 below invoice BEFORE I even stepped into the dealership (having test driven the car before and decided on what I wanted) using Edmunds and email. I went in and filled the credit app and then they told me about the $2,500 on leasing. I picked up the car the next day (Wednesday night). I basically got $6k off sticker. If you don't believe me, send out for an Edmunds request, then follow up their offer with a question about incentives on the 8.

zelig2

Cool, I'll try it but so far everyone tells me "there are no incentives for buying or financing". Maybe I'll just work them over to get the price down $2k below invoice but I doubt they'll move on it. I wish they could just be honest about it all.

xxMax Powerxx

I know for a fact that it is a Mazda incentive (you have to fill out a form to have it applied to the lease). Why would Mazda incent leasing but not purchase of financing? Mazda doesn't care about the lease because, ultimately, all they end up doing with a lease is sell the car to the leasing company for the price you negotiate. The leasing company ends up owning the car during and after the lease, not Mazda. Mazda does not care about the terms of the lease beyond them being another way to get you into their car.

rumatt

It doesn't matter if we understand why. Sometimes it happens.

A dealer told me that the $2500 applies to leasing only. A few people here said they've been told the same thing.

zelig2

They care because they make the most money off a lease, less money on a finance and even less on a cash purchase. Most places I talk to will give an additional discount if I finance through them as opposed to my bank.

gt1

I called a Sales Manager (atleast thats what a very friendly receptionist told me) and he stated there is no finance incentive other than the 0% for 24 month and college grad. discount. He did reveal the 24 month lease incentive + regular lease incentive ($3500)

rumatt

Bummer. I want $4K under invoice and 0 down on my purchase, dammit! :D

gt1

Well this is only $3500 under invoice and is a lease not purchase deal... still pretty good

I may just be picking up my car before the end of month... I don't think I can wait another week...lol