Leasing a new Car - Mazda Forum
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post #1 of 18 (permalink) Old 01-26-2004, 02:44 PM Thread Starter
 
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My dealer told me that because i plan to lease a 2004 Mazda, the MSRP CANNOT budge. "That's just the way it is with leases." he says, "And besides, the MSRP doesn't effect you anyway you are only leasing". I was under the impression that one should work out a deal for the price of the car in writing and only then should the buyer let his payment methods be known. If this is true, then the fact that i am going to lease should have no bearing on the price to pay. Is this correct?

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post #2 of 18 (permalink) Old 01-26-2004, 03:51 PM
 
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dude don't lease. you get assraped on payments and after your lease is up you STILL have to pay a huge amount if you want to own the car. You're better off buying and making payments, generally they're lower than lease payments and in the end the car is yours, not the dealer's. My roommate's sister leased and when she graduates nursing school she won't have a car... she can't afford to buy it off and won't even get anything for 'trading it in' since it was leased. Rip off... don't bother. Just buy.
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post #3 of 18 (permalink) Old 01-27-2004, 08:30 AM
 
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in canada dealers have the same flexiabilty on a lease or a finance. someone lying to you. lease is the best way to go you dont have to worry about depriciation and you get a new car every 3-4 years, how can you beat that plus you can drive the **** out of it and not worry!!!
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post #4 of 18 (permalink) Old 01-27-2004, 10:17 PM
 
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Quote:
Originally posted by 3ird@Jan 26 2004, 03:44 PM
My dealer told me that because i plan to lease a 2004 Mazda, the MSRP CANNOT budge. "That's just the way it is with leases." he says, "And besides, the MSRP doesn't effect you anyway you are only leasing". I was under the impression that one should work out a deal for the price of the car in writing and only then should the buyer let his payment methods be known. If this is true, then the fact that i am going to lease should have no bearing on the price to pay. Is this correct?
that's bullshit. you don't walk into a dealership telling them you wanna lease! you pursue as though you're gonna purchase, and negotiate a purchase price, then you tell them you wanna lease at that price. at this point you'll want to negotiate your mileage allowance, lease type (open/closed end) money factor, inception fee, and lease term (don't go beyond 36 months).............there's quite a bit more to it. i suggest reading up on how to lease. the paperwork involved is more complicated than financing, and it's easier to get ******.

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post #5 of 18 (permalink) Old 01-28-2004, 10:17 PM Thread Starter
 
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thanks for the replies
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post #6 of 18 (permalink) Old 01-29-2004, 01:25 PM
 
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Leasing isn't bad, because it lets you drive more car for less money. But the mileage restriction downfall is the biggest problem IMO. I suggest carefully reviewing your driving/ownership habits before leasing. Becauses, terminating a lease early can be costly! whatever you do, DO NOT SIGN A LEASE LONGER THAN 36 MONTHS!!! Some lenders are offering leases up to 5years!!! (it may be time to face the facts that you can afford the car *lol*)

Anyhow, goodluck with what ever you decide to do.

BTW, Edmunds.com offers give info regarding leasing and buying.


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post #7 of 18 (permalink) Old 01-29-2004, 02:54 PM
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Some truths on leasing....Please disregard length and read it anyway......

The benefits of leasing are lower insurance, larger write off, lower payments, less liability, lower intrest rate, paying less overall for the vehicle. Let me go in to detail.

-Leasing payments are typically 10% - 15% LESS than finance payments when the lease is written from 24-48 months with a mileage allowance of 12K-15K.

-Because the manufacture's financial group is the true owner of the vehicle, they must insure it as well. This typicaly means that your personal auto insurance will be 5%-10% less than a owned/financed car.

-You can write-off a larger percentage of your payment on a lease rather than a buy. This is because a lease is seen as a "rental" or business expense. The only other way to write off a larger amount is if you pay for the vehicle with 100% cash, and its over 6K GVW.

-Because the manufacture makes money when they sell or lease the vehicle to you and they make a return when you are done with the lease, they offer lower intrest rates. A great rate on a purchase is 4.9, a bad rate on a lease is 3.9 (as examples).

- If you were to add up your payments (with intrest incured) and add your residual (the amount the car is valued when your lease is finished....if you were to buy the car), the total would be less than if you had orignally purchased the car. This is only true unless you had a terrible lease rate (say 3.9+), rolled some negative equity, or bought a car with a very low resale/residual value (typically cars that don't sell as well as expected when they are released).

There are other benefits as well and some drawbacks too. However, if your the type of person who gets a new car every 2, 3, 4 years, and doesn't drive like 20K miles per year.....leasing almost always be a smarter way to go.

BTW, I'm a sales manager at a Porsche, Audi, BMW, VW dealership and I finance deals all the time, so this information is fairly first hand.

-2004 Audi A4 1.8TQ Ultrasport....jet black

-2005 BMW X5 4.4i Sport Package....jet black

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post #8 of 18 (permalink) Old 01-29-2004, 03:55 PM
 
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Click Here for a more objective stance at leasing vs buying.
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post #9 of 18 (permalink) Old 01-30-2004, 02:18 AM
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Quote:
Originally posted by seldomseen@Jan 29 2004, 01:55 PM
Click Here for a more objective stance at leasing vs buying.
What, you don't think Ski is objective?

Anyway, as you can obviously see, there are good points in favor of both methods. It depends mainly on whether or not you're concerned about keeping the car in the long run - if you'd like it to be yours, you're probably better off financing it as a purchase. But if you think you'll want something else in a few years, a lease is usually better.

I tend to believe that simply purchasing a car is less of a hassle overall, but that's just me. Do what makes sense for you...


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post #10 of 18 (permalink) Old 04-19-2004, 05:10 PM
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That article that Seldom posted should have just included one lease instead of 2 lease terms. I think the numbers would have been different if that was the case.
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