shahram72

Wow, while I am also surprised, I have to admit I am a bit happy about this. Beacuse I do not own one. This means that I should have no problem picking up a nice used one for $15K in a couple years. Right now theres a nice red one on ebay with 27K miles for $15.7K buy it now. Wish I had it now. Hope this recall fixes all the problems.

msrecant

Leasing companies do not take risks. The deals are always structured to guarantee a solid return, hence they never rely on the "resale value" for their profit. They assume they can wholesale the car at the end and if you do the "payoff" it's gravey to them.

What you list above shows over 30 months you pay $9,870 ($1,500 down and $279 for 30 months). You don't say above what the final sale price plus all taxes and fees for the car was (what the leasing company had to pay to the dealership) which would give us the info to see the whole deal.

I was suprised that your lease pays you back for low mileage. Sounds too-good-to-be-true, but its been a really long time since I have looked at a lease.

bascho

This is how I think a monthly lease pmt is calculated behind the scenes. It is basically paying the first portion of an entire loan and then walking away. Say your lease is for 36 months and the sale price was $28K (not including tax/title/plates). The monthly pmt will typically be based on a 72 month purchase term but you only pay the first 36 months.

example (not based on actual interest rate):
sale price $28,000
actual cost over 72 month period $34,000 (including sales tax, title fees, initial registration fee and of course the interest.

monthly pmt for 72 month financing would = $472 ($34,000/72)

most likely your lease pmt is very close to $472 on your 36 month lease. Let's say you put $1000 down....your monthly pmt would probably = $458 ($33,000/72)


I may be completely off on this and if someone has insider knowledge of how the monthly pmt is determined, please correct me.

kartweb

Any brand, any model, the number 1 rule is caveat emptor.

If resale value is an important consideration then before you buy take a look at what the final bid is on Ebay for the same car. Most sports cars (not all) take a beating in the first year. The RX8 is not immune, especially a Shinka.

No doubt the RX8 is a cool car that fits the needs of some people. Mazda is smart enough to know how to price them - and they are priced at the limit of what the market will pay, like most German cars in the US are. That means they are priced well above the production cost and have more margin in them then you would expect.

New car buyers seem to pivot around the "invoice" price. At the end of the month, invoice price has little relevence on what the dealer really pays. Dealers get rebates that aren't publicized. Take the end of model year 05 models last spring - Mine stickered at $32K & change. Invoice was something in the high $29K range. My price was $25K even before tax, title, & tags. Not bad for a GS model. The same day a guy bought a nearly identical GS (within $400 sticker) 06 for $29K & change. Technically the same car for $4000 more.

The first time I considered the RX8 was about a year ago. Befoire I even drove one I looked at the "invoice" on a new one and compared it to the Ebay price of a 1 year old model. That took the RX8 off the table at the time - although I did consider looking at a used one. In fact my son is currently considering a sport model something with under 20,000 miles in the $15,000 (clean carfax) range. He's in no rush and one will probably come along.

When I bought my CX7 there were no used ones on Ebay so I took a gamble based on similar models. So far it's turned out to have been a great choice. An AWD model including NAV with a sticker of just over $30K I got it for $27.5K before TTL. Now they're selling pretty fast so they tend to sell well above invoice and thats likely to continue for a while. Comparing the RX8 to the CX7 on a manufacturing cost basis (I do some of that for a living with Mining Trucks) hands down the CX7 costs a LOT more to produce then the RX8, in the range of about 24-27% more, yet the pricing is similar. Profit margin baby, as in the RX8 has a ton in it. Good for Mazda. That assures they will keep on building and developing the RX8 despite the chicken littles who worry about production numbers.

Bottom line; If you're buying an RX8 either wait until the fire sale at the end of model year or buy a used one - plenty of good clean ones out there.

DaveCM203

I am a car salesman and I can tell you, never lease unless it absolutely benefits you. And you realy need to keep it until the lease is up and live by the lease rules. Anytime someone in a lease and tries to come out of a lease is always in a bad situation. The lease payoff will always be more unless you put a TON of money down (in which case you will lose a lot anyway). You would have been better off buying the car and trading it than leasing and now trying to get out of the lease. Leasing benefits few customers in the long run. You are better off keeping the car until the lease is over. You will NEVER have positive equity in a lease. Keep it until the lease is up, don't go over your miles, get all your service performed, and don't wreck it, dent it, or anything that would require you to have something panted. (Paint work will lower the value of the car and you WILL have to pay the difference out of your pocket.) You would be in the same situation no matter what you leased. I speak from experiance. I have seen it a hundred times from Ford and Mazda to Mercedes and BMW.

That is my 2 cent. Good luck.

bascho

I appreciate the advise.....especially considering your current employment. I didn't expect to not have to have some negative equity....but I thought $6K in the first year was a lot. I have come to terms with the fact that I will be keeping the car through the lease term and then turning it in.

Dave, what has your experience been with lease-end buy-outs? Can a person negotiate a lower buy-out price if the market value is significantly lower than the residual?

DOMINION

This is sad. Just think of the people that have been in a werck!

bascho

Hey guys......sold my car tonight. I got $25K for it which is less than I owe but not that bad considering. Not sure yet what I'm gonna get.....either a GTO or a Mustang GT.

DaveCM203

Sorry I did not check this sooner. I am glad that you got the car sold. As for negotiating the buyout, it realy depends on the leasing company. Some will, some won't.

salituro64

Because leasing keeps your payments lower for 2 1/2 years and then you throw some more down and refinance what's left. Still keeping your payments lower than a traditional 48 or 60 month loan from the start. Yeah it costs a bit more in the long run, but at least you can have reasonable payments.

beachdog

Wow, I just read this thread from the beginning and didn't see that coming. Congrats.

I'm guessing you WON'T be leasing the stang.

Japan8

Congrats!

If you had to do it over again... RX-8, Mustang GT, or Mazdaspeed3... or used GTO?

BunnyGirl

Ha, ha. Me too!!! I love Egyptian history and stuff. I also have several pieces of jewelry that are Egyptian hieroglyphics and other such symbols.

bascho

Nope......bought it under the 0% for 72-months plan. I think I am done leasing after this experience.

bascho

Well, I am a Mustang guy (this is my 5th Mustang).....however, the RX8 was a great car. Had it not been for the horrible resale I would have bought it out of the lease. Ford offering the 0% for 72 months doesn't come around very often......so I had to jump on it. Now that I have my Mustang I am going to start collecting all the components needed for the Cervini C500 conversion

Some people don't like the looks of that kit.......but it is my favorite. I am a huge Gone in 60 Seconds junkie and can't wait to have my Eleanor look-a-like.

Japan8

Oh no... I understand that. My father is big Mustang guy... 79, 83, 87 and now my old 90 is his project car. Runs strong as hell with over 150,000mi on it. Looking for an engine swap since it'd need a rebuild for FI or even any major internal mods. Considering a stroker crate engine.

The new Mustang is definitely something I'll have to test drive... I just wonder if it's what I want in a car now (want more of a luxury sports car).

I'm somewhat surprised that you liked the RX-8 that much... considering the Mustang is a muscle car and the RX-8 isn't known for torque. Interesting...

The Cervini C500 kit is a popular one. Nothing wrong with the Elenaor look... it's hot. Not my personal cup of tea, but it is a hot kit.

Congrats on the new ride!

bascho

Had to......the deal was too good to pass up. I got the 2006 GT in Tungsten Grey with a Glassback roof for $29K OTD....(including GAP insurance!). The glass roof is amazing and I have not run across a single person yet that had seen one on any other Mustangs in my area.

I wanted to detail the car this weekend and take a bunch of pics but the weather was not cooperating......hopefully one night this week.

Modding the Mustang is considerably different than the RX8......and most other cars for that matter. The aftermarket is packed with unlimited potential. The supercharger kits are not as cheap as they are for the older SN95 Stangs. But for $5K you can have a reliable 450rwhp!!! Gotta love that

I'm thinking a CAI and Predator EMS in the immediate future. It adds like 30hp for $650......can't do that with an RX8. I am gonna hold off on exhaust until I can afford to get the Cervini side exhaust to go with the kit.

bascho

I knew you would understand the Mustang bug I've had a '66 Coupe 289, '90 GT, '93 Cobra, '98 Cobra and now my 2006 GT. Out of those past Mustangs I wish I could have the '93 Cobra back....they are really holding value now :\

The crate engine I was going to put into my '90 was a 427ci/SBWindsor 'Stroker' engine. With a 750 Holley they were rated at 450hp n/a!!! Pretty reasonable cost too.

If your looking at sport luxury then I wouldn't look at the new Mustang. Coming out of the RX8, I was disappointed in so many ways with Mustangs interior. The reason I got the RX8 is because I thought I wanted sport luxury.....I was wrong. Sure I loved having the RX8.....but it was never 'me', you know what I'm talking about? As a car enthusiast I can appreciate everything automotive. I liked the looks of the RX8 so much that I thought I could make it mine......but it never really felt that way.

When I get into the Mustang it feels like home.......it's 'me' in automotive form. For those that get that feeling from the RX8.....more power to you, it's a great car.

It just wasn't me.

Japan8

I think I'd also do the FRPP handing pack too.

Personally... the 18" rims would have to go... they look so small on that big body. Needs at least 19" and many aftermarket companies (Saleen, Steeda, Shelby) go with 20".

You are right... there is such a huge aftermarket for the Mustang. The S-197 already has so much out there for it, but it doesn't even compare to what's out there for the Fox and pushrod V8. In some ways it's dangerous... to your bank account.

Japan8

Yep... we're seeing eye to eye (sorry about the other day... ).

You had a '93 Cobra... daaamn. I like those. I saw a guy in a Mustang mag mod his GT up with a lot of those bodyparts, but instead ran sidepipes like the Eleanor kit (coming out the side skirt). It looked hot.

A 427ci/SBWindsor 'Stroker'?! 450hp N/A... that's a serious beast. Especially since the Fox platorm was so light... like 2,800 lbs... I can only imagine what it'd be like driving it.

Oh... about the glassback roof... that's aftermarket right? I remember seeing on some site. Anyway... it's a cool idea. I wondered how it looked and whatnot.

I understand what you mean about finding the car that fits you. I too love the RX-8's looks... inside and out, but... after two mild test drives (one in Japan and one in the US)... unfortunately with 3 people in the car (driver included)... it just didn't quite feel right. I've thought maybe it'll be different with just me or two people in the car. However... it may just be that it's not the right fit for me.

After driving the '90 LX 5.0 in college, I felt like I wanted more luxury. I had test driven the Contour SVT... nice car. Too bad it didn't do so well. I also did a charity drive for BMW and got to run all the models in 1999 around a course. I definitely loved the luxury. After driving the 540, the 328 didn't impress me though. Anyway... I guess that's one reason why I consider the G35 Coupe and 330Ci as possible choices. I want the "umph"... the great torque like the Mustang with packaging that's more luxurious I guess... But I still do love my Ford V8's... so I figure I gotta at least test drive the Mustang before discounting it.

As an enthusiast... I can appreciate what different cars have to bring to the table... it's just finding the right car that fits you that's the hard part.

bascho

It takes two......I also apologize

That body style will always be one of my favorites......mainly because it came out during my highly impressionable high school years. It's on my list of cars to get when I have money for a collection I was sooooo close to getting that 427W but decided to trade for the '93 Cobra. I don't regret that choice at all.

It's really cool.....I hope the pics do it justice. I wouldn't have paid $3K for it.....but I am happy they threw it in.



It's funny you mention the Contour SVT, I sold my 2000 Contour SVT to get the RX8. That's another deal I wish I could take back :\ I had invested about $4K into brake and suspension mods into that car and it was completely paid for. I can honestly say that car would out-corner and out-accelerate my stock RX8.

I can see what you mean about the G35C and 330Ci though....both are nice sport luxury cars. Never driven either......but I do like what they have to offer. I also love the 540.....that is an amazing sport luxury sedan. A friend of mine had one for a year and we put a lot of miles on that baby.

TKE Tails

iTrader: (1)

Good thing I am logged onto ................... muskratclub.com/all_my_stangs/all_their_body_kits/other_pointless_stuff_to_this_thread.html

Back to the issue at hand. Anyone ACTUALLY hack down the residual value when the lease is done?

- Sarcasm

salituro64

Seems ironic that the same people that will complain about resale and buying out a lease, will think nothing of dumping $5-10K on mods which they will never recoup.

My 2004 buyout is about $21K after 30 month lease on a 6SP/GT loaded including 6 CD, NAV, appearance package, rotary accents, etc. Almost every TSB has been performed on it. I have 16K miles on the car, never driven in snow, only 4-5 times in rain, covered in winter & is immaculate. It has never seen a car wash and is as show room new as when I took it home. I will think nothing of buying my lease out.

bascho

You'll think twice when you are paying $10K more than every other available "2004 6MT loaded including 6 CD, NAV, appearance package, rotary accents, etc. Almost every TSB has been performed on it, never driven in snow, only 4-5 times in rain, covered in winter & is immaculate, has never seen a car wash and is as show room new condition."

That is the reason I got out when I did......my buy-out in 2 years was $18K which is all the dealer was currently willing to offer me on trade-in after only 1 year into my 3-year lease. I don't mind spending $10K on mods that actually have a positive effect on performance........ and I am going to keep this car forever. I never intended on keeping the RX8 forever.......now an RX7 is a different story.

bascho

I didn't have anyone reply that they had, so I'm guessing it probably doesn't happen very often.