BlueSky

Anyway, bascho, why would you want to get that archaic pos mustange gt? Have you ever been inside one? I plopped into the drivers seat of one back when I was shopping for 8's and I felt like a had entered some tupperware nightmare.

DrDiaboloco

I tried to get out of a lease a few years ago to "trade up" to a more expensive vehicle, ironically a Mustang in specific. This was through Ford... And the short answer was that I was going to have to completely pay off the lease, which was still 14mos from being "up". I elected to not throw my money away.

I'd say your chances of talking them down on the buyout price is pretty much nil.

VikingDJ

I'm wondering that myself, since I'm in a similiar position with my MS6. The difference is I got such a great deal on the MS6, it's pretty much unlikely for me. (same $17000 buyout as you on a $29k msrp car but only $259 a month). Common sense does tell me that come time to hand that car in, if they don't want the car, the market value is below what is owed, or they feel that they can't recover the 17000 easily, I think they will offer you a deal on the buyout. It would be in their best interest to that's for sure, because I highly doubt that they want that car back. Of course who knows what the market will be like two years from now. Just be careful, as the fine print states that the dealership is allowed to determine what they consider to be excess wear. It's something I'm a bit weery of, and I'm sorry if I worry you at all on this.

Basically, they got us by the gonads when it comes to handing in this car, because it's a MAC lease that wants you to buyout the car. My guess is they will work with you and if you keep the condition of this car pristine, you will likely see a lowering in that buyout, but it probably won't be enough of a deal to make you want to buy it.

bascho

I wanted to get one while Ford was offering the 72 month for 0% plan......that dosen't happen very often. I agree that the Mustang is no where near the same class as the RX8. The interior was cheap and the fit and finish sucked.......but man what an engine I will eventually buy one and I'll take it to Cervini's to have the C500 conversion performed.

bascho

I'm sure they're lots of people in the same boat as us and Mazda is going to have to rethink the buy-out prices for us. Like you said I am sure they would rather sell to us at a revised figure than hope to get that figure at auction. I'm not worried about the condition of my car because it's garage kept and not really driven in the winter time.....plus I am meticulus in the care of my cars. If anyone wants to check out my ride they can at http://www.cars.com/go/search/detail...eadExists=true

RotoRocket

iTrader: (1)

I may buy a 2nd 8.

I'm going to go to the dealer and offer $21,000 for the new 6 speed GT they have sitting there.

I shall alternate driving my 8s, dependent upon weather and general mood.

BlueSky

$21,000 for a new 6-speed GT? Good luck.

msrecant

I think you will find that Mazda (or any leasing company) will simply execute the terms of the lease as stated in your existing agreement because I don't think they care. They have already made their money with your down payment and monthly payment and will not be looking to make any money on the resale of the used car.

JonsToy

In answer to the original question, leasing companies may lower the agreed-to buyout price at the end of the lease if they find that the value of the car at that time is less than the buyout price. Though I have no direct experience that MAC will do the same.

Looking at it from their perspective, they'd much rather sell to you for the same price they might get elsewhere, without going through all the paperwork, fix-up, etc...

When your lease is up, contact them and ask for a figure. If it seems high, make them a fair offer. The worst they can say is no, at which time you give them the car (which is why you decided to lease rather than buy) and walk away.

two rotors

A good plan----if you take care of the car it should easily last you 15 years(my former 1988 TII is still running strong)so your annual capital cost would be no more than$21000/15= $1400 per year!Fairly economical.

RotoRocket

iTrader: (1)

Since you said that, I shall now only offer $19,999.99.

BlueSky

^^^Oh so it was a joke then.

rodrigo67

I'm not so sure on the making money part there. I leased a new 04 touring MT with appearance and spoiler for $279 a month for 30 months which totals $8370. Interest was half at 4170 ( required going thru Mazda) and principle was 4200, for a total price of the car at 23,200 (payout and principle paid), and my down payment of 1500 is a final price of 24,700. Now If I give them the car back instead of the 19K, I'm way under miles and will get back 3K, they are out 22K (19K for the car and 3K payback) on a 3 year old rx8 with 15k miles that originally sold for under 25k which MSRP for 32K. I don't see how they made thier money on this...

I guess I will find out if they will lower the price in 6 months.

VikingDJ

You got me there. My MS6 is kept outside, and is essentially a winter/beater car. My S2000 is treated like your RX8, so I suppose I'd not worry about the condition either. I just know what the winter did to my STI, with all the highway driving, road rash, scratches ect ect from two harsh winters, so I'm a bit concerned. I have the same exact color MS6 as your RX8, and that color shows imperfections like a ****. it might as well be black. Inheinsight I should have gotten that TIT Grey, because every little rock chip and scratch is aparently visible on this color car. I have to look into if my comprensive will cover it if they get **** on me cosmetically, and try and force a buyout. There have been horror stories on leases that were not more then normally worn, but the dealerships played god, and made their own rules, and nitpicked at blemishes. It may never happen, but considering how I am using this car I have to really try and keep it in the best cosmetic shape I can, which is not easy when driving all highway in harsh weather.
I guess it's gonna come down to if the market value is less then the buyout. That's really the only shot at getting a nice reduction, but you really will not know until that time comes. The RX8 has a horrible resale value right now, but it could taper off when it reaches the $17000 mark, so you'll find out in two years. I hope everything works out for ya.

VikingDJ

They made money off you because of the incentives Mazda gives back to them. I got a great deal like you on an MS6 Sport ($29k msrp - 2 year 24k mile lease $259 a month), and they made money off me because Mazda has to give them $2500 back. Even though they gave me well over KBB for my STI ($23000), the demand is so high that the car sells for full retail, but in my case the guy that works at dealership wanted my STI, and ended up buying it, possibly for $23000, even though it only cost me $29000 brand new. That's their profit, and they may have charged him more then $23000 to increase their profit. In these incentive situations, everyone wins, and if anyone loses, it's Mazda. These incentives must mean nothing to them because of the profit the 3 and 6 have given them. That's my guess.

Ike

Just hold onto it, the RX-8 will be a collectors car someday

VikingDJ

Yeah, I can't wait to see those top of the line Imprezas and Lancers in that vintage collector status as well. I look forward to the day when my old 04 STI is sitting in a classic car showroom, being admired for it's utter beauty and refinement.

I could not resist that Ike, just as you couldn't resist.

Ike

Thing is, I don't see STI and Evo owners talking about how rare their cars are or when they will be collectors cars nearly as much as RX-8 owners.

The MS6 might become a collector after all the owners drive their cars off a cliff after they get tired of the weak *** Mazda tuning

jaguargod

This engine recall and the video about the customer service surveys must have really had an effect. I traded mine a month or so ago, and I got $19,000 for an '04 GT with 21K miles. If you are getting offered $20,000 for an '05 Shinka with only 12K miles, then that is a big difference. I feel for you, and I am sooooo glad I got out from under mine.

VikingDJ

You got that right about the MS6. I'm not a defensive fanboi to my cars like some people become. However, if you look at the car from a non enthusiast standpoint and realize you can buy one for $22k, that weak *** tuning doesn't mean a whole lot when looking for a nice affordable. luxurious, fully loaded daily driver that looks nice. The STI is not $9k faster then the MS6, let alone even 5k better looking to those who objectively look at cars with their eyes totally and impartially open. I understand that you are incapable of that, as are most, so I won't try.

I can speak for STi owners, not Evo owners. They have talked about the rarity of their car on the iwsti forums, and it possibly being a collector some day. However, the STI guys shut the fanbois down and point out to them that it's still a 4 door Impreza with lots of modifictions, and it's only real place in history will be from an affordable modified enthusiast standpoint, not a collector car standpoint. The RX8, although unlikely due to the mass production, has a much better shot at being a collectible because it's an original built sports car, and in the mass of population think it looks 10 times nicer both inside and out, placed more time in refinement and good looks, along with a unique engine, even if the car is failing in the market. Even if you don't believe it can ever be a collectible, you gotta at least acknowledge that at least it has a realistic shot, as compared to modified versions of base economy cars. It's still an Impreza vs an RX8 when all is said and done, and in the eyes of collector status, it's not even close, even if the RX8 can't become one either.

The EVO might become a collector car if enough people become tired of trying spending massive amounts of money to keep the car reliable and long lasting mileage wise, or swap out that nasty interior. A taste of your own medicine. Can you handle it? LOL

spork

Ok, I dunno if anyone else answered this the same way I'm going to answer it because I don't feel like reading through the 4 pages of responses.

I was in the exact situation as you. Well, close. I had a 2 year lease and the whole time I was thinking I was probably going to buy this car. At the signing the dealer told me that I could probably bargain the buy out price, which was 21,5 (as written on my contract). Anyways, after a negative experience with the local Mazda dealer for service, I was doubting whether I should buy or not. But after driving the car some more, I decided I'd call them up and see how low they would go. Mazda American Credit told me to talk to my dealer. My dealer called me back and said the buy out was "24,700", then backtracked and said he'd call me back after I said I knew what the buy out price was already. (He never called me back).

Anyways, I talked to my dealer's financial department and they flat out told me there is no haggling whatsoever for buy outs. So I decided I wouldn't keep it. I mentioned this to the guy who closed out my lease and he said the dealers didn't do buy outs and that it was all up to Mazda American Credit. Who as I said before, said it was done by the dealer. So I have no idea what the truth of it is.

I welcome them to try selling an '04 RX-8 which is rated below average in reliability with a possible engine recall, that's been in an accident with 22,000 miles on it. Good luck. Especially with that dealer video going around too.

sunilseru

would you mind sharing how you got so much on a trade. where and what kind of a car you traded it for? hope you did not get ripped-off on the purchase price.

CarAndDriver

I bought my 2005 GT with 11.5K miles from a private seller for 19K. The local dealership offered him 19K initially and when he hesitated and came back later they offered 18K.

bascho

I appreciate all the advise guys.....it's sounds like this is a common situation. It looks like I am most likely going to have to ride out the lease unless something drastically changes in the secondary market for the RX8. It's not that I haven't been happy with the car......it's just that I hate the fact that it makes no sense for me to buy the car out of the lease. My plan from the begining was to lease for 3 years and if I had no major issues I would buy out the lease. Now it appears buying out my lease would cost more than the vehicle is worth which is a really bad decision. I am definitely going to try to negotiate a different buy-out price and see how MAC responds.......like someone else said, the worst they can do is say "no".

jaguargod

I didn't do anything special really. I went to a few regular dealers first and the first offer was 18K and a couple of months later it went down to 16.5K. Then I took it to CarMax and got $19K. I live in the Dallas, TX area. I drive alot for work, so I wanted something that got decent mileage and I wanted to downgrade my monthly payment. I ended up getting a Scion tC. I know lots of people will probably thumb their noses at a Scion, but I really like it. I would like to get some aftermarket wheels and some suspension upgrades, but other than that I think it is a good quality car and it doesn't really have any of the issues that the RX8 had. The sticker says 22 mpg but I am getting around 27 mpg city and I have yet to see what the mileage will be on the highway. I originally purchased my 04 RX8 in 05 as a leftover. Sticker price was just about 32K and it had rebates that brought it down to 26K.