I want to get out of my lease with mazda and I am just wondering is there any way possible to get rid of it? I want a car that I actually own and can modify without Mazda gettin p*ssed! Well this is another lesson in life learned: Do not lease cars!

 

what's your problem with the lease/car? and as far as i know...no.. but i'm no lawyer.

 

Leases are like loans - there is a payoff amount. Call your leasing company, and find out.

 

Buy it out

 

exactly then mod to your delight

but seriously were u suprised u couldn't mod a leased car? I mean really u can just u will have to yank it all out when the lease is up...buy it out...make it like your child :D

 

Call and get a buyout amount, then buy it out.

Or, go ahead and mod away and then wait and buy it out at lease end.

No problem, and no need to 'diss leasing :D

Dennis

 

you have to either find someone to purchase it and buy it out or someone to take over the lease and reassign it to them (if your lease allows this), or you can buy it out yourself with a loan and the resell it, you might be able to find a dealership who will take it on trade but you'll likely be upside down financially in a major way

your obligated to pay it off though, you can't just bail without damaging your credit and probably being taken to court

 

If you plan on buying the car when your lease is up then they are going to care less about what you do to it. If worse comes to worse, throw your stock parts that you replaced up in the attick and put them back on when you are done with the car.

Here's a couple things you can do to get out of your lease:

1. Buy the car
2. Refinance for what your buy-off is.
3. Sell it
4. Trade it.

With number 3 it's hard because your buy-out is based on the value of the car and in most cases because of depriciation (sp?) nobody is gonna want to pay the price for a used leased car when they can probably get a new one for less. Number 4 option is okay as long as you aren't in a negative equity sort of situation.

 

Mod it all you want and then buy it at the end of your lease. No problem!

 

I have the cash
could I sing up for the lease
get the $1000 mac rebate
and then pay it off and still come out ahead?
Anyone with a lease know how long you have to
keep it?

 

You can also try to find someone to assume the lease, find a dealer that will take some cash down and flip you to a new 8 financed (not the best way to do it), or simply do as stated above...mod all you want and pay the residual at the termination and keep the car. If the mods you are doing will not leave any lasting "wear/damage" when removed then they will never know or care.

The big thing here is whether you intend to leave the mods on at termination. If it will increase the resale value of the car they will not argue unless you expect to either be compensated (never happen) for the improvements or plan to remove them and not fix any issues (paint rubs, scratches, residue, stains, tears, the list goes on and on) that arise due to the modifications. I say don't sweat it and mod away, just have an idea what you want to do at termination before you make any major mods.

 

The lease acquisition fee will eat up over half of your $1k. Most leases also have early terminattion penalties (admin fees, they may call them). I have done a MAC lease, but others I have done have them.

I was told today, but have not yet confirmed, that there is now $3k is lease help for 05 RX-8s. If this is the case, and you get the car down near invoice then you may can make a case for lease and early term.

Dennis

 

you'll get it below invoice if your savvy, the $3k would come off whatever price you first negotiate with the dealership and you should be able to negotiate well below MSRP

I still wouldn't recommend leasing through MAC, their residuals are in the toilet, it's just not a good deal even with $3k off on top of the dealership discount, don't play the fool and only focus on affording the payment amount, you have to assess the whole deal to understand it's value, they have the leases oriented excessively in their favor

 

I would have to see what the MAC numbers are right now - and what the MAC early buyout penalties are - but it might not be a bad deal.

You should be able to get an 05 RX-8 for about INVOICE (dealer cost) now - then take off $3k lease incentives. Even with a 49% residual for a 36/36k lease this might be "decent". If the buy out penalties are not severe and the MF is high, you could buy the car out down the down with cheaper financing money - but you still got the $3k off the front end.

Always look at the whole deal and all the numbers before deciding, as you said - but this might end up an OK deal. The good thing about the bad residual, makes for a cheap buy out price :D

Dennis

 

It looks like for most folks, only $2k in Mazda lease help money on 05 8s. This is probably not enough to make it a good deal and is not better than last month.

It looks like the extra $1,000 is:

2005 Competitive Lease Conquest Direct Mail Program $1000 Customer Cash

So unless you get the direct mail coupon, then they are still stuck on $2k in lease money

Dennis