Lease rate/Financing payments on MSP

[Grimace]

I asked in a different thread, which has since gone quiet, what kind of monthly lease/financing payments people are paying (or have agreed to pay once they get their MSP). I think someone mentioned they were selling crack to pay the car off, or pimping, or something along those lines... ;) Anyway, this time I'm looking for some serious responses. After driving Dpmmsp's Protege on Saturday, I've been bitten by the MSP bug badly.
The original plan I had was to buy an RX-8 next year, but the estimated Canadian MSRP is over $40k now, and that is getting to be too much money for me. Not that its not worth every penny, but I just can't spend that kind of money, with my girlfriend still in school and a OSAP loan to pay back.
So, now I need to figure out if I can swing a MSP in my budget. I'm going to call around this week to see what the dealers tell me for lease rates or financing plans, but I'd like to hear from everyone here first so I can get an idea of what I'm looking at first.
The MSP is my first choice, but if I can't take the payments, I may have to find myself in a Spec V or a Focus SVT. I don't care how broke I am, I want something special in the handling department! :)
Any info is appreciated!

[Limited Edition]

6.9% finacing from Mazda up to 60 months.
which is alot higher than regular protege's and protege 5 at 1.9% i believe it is.
Anyway, depending on how much you can afford each month, i suggest you put down a big down payment..
Putting at least 40 % of the car's value will definetely help.
I'm sure you're on a budget, because you can't afford a Rx-8 or what level of car...so just get what you can afford.
:)

[Grimace]

Doh! I appologize! Last I checked Mazda's website (not too long ago), they didn't have the lease rates posted for the MSP, but I just checked now, and there they are!
Has anyone tried to use the Graduate Program price break ($500-750 depending on the model) on the MSP? On the Canadian Mazda site, it says you can get it on the standard Protege, but doesn't mention anything specifically about the MSP. (See http://www.mazda.ca/english/157.htm )

[arkitek]

Or you can go on your own and try your hands at various banks and credit unions.

I'll be getting my financing loan from North York Credit Union at 5.5% for 60 months.

[dimic]

Lease of MSP in Toronto:
Price is 26995+Freight+PDi+AIRtax+gastax+admin fee?+15%.
Residual is 48% (regular mileage, up to 25K per year) after 4 years (off the MRSP, don't include freight/pdi), and you can get interest rate at mazda.ca, I believe it's 7.9

Here is a good lease calculator:
http://www.royalbank.com/cgi-bin/carloan/lvf.pl

Good luck.

[Newf]

does that thing actually work, the payments seem a lot lower then I was told.

[dafababa]

I will be buying mine(i think). 20500 less 2300 down payment. My interest rate should be in the low to mid 5's i have been told it will be about 350 a month.

[OrangeAppeal]

Getting 4.9% up to 60 months....zero down. (USA)

[Grimace]

Thanks for the info everyone.
Just to add - if you are a recent grad, it would appear the Graduate Rebate does indeed apply to the Mazdaspeed Protege too - just got a call from the dealer to confirm this.

[JonnyMiata]

Keep in mind too that if you finance through Mazda Credit you get your gap insurance paid for by them. Or at least that is what I read somewhere.

Jonny

[slug420]

Originally posted by OrangeAppeal
Getting 4.9% up to 60 months....zero down. (USA)

do you have like perfect credit?? How did you get this? I dont have any credit as far as i know so I just went through my family's credit union and got 6.7%....

[OrangeAppeal]

Originally posted by slug420


do you have like perfect credit?? How did you get this? I dont have any credit as far as i know so I just went through my family's credit union and got 6.7%....

I have really good credit...but I would suggest trying it through Mazda's financing. It only takes a couple minutes for them to check, and you might qualify for a cheaper rate than 6.7%...If not, then oh well, not much skin off your back.

[Grimace]

Guys and gals, I contacted Avante Mazda here in the Toronto area. In addition to giving me my $600 graduate discount, they are also having an offer where they pay the first 3 lease payments....
This is getting very tempting.... to think originally I wasn't going to buy a car until summer 03, and now I might end up with one next week!

[dpmmsp]

Grimace .... Good luck, you picked a good dealership .... Are you dealing with Eddie?:D

[Newf]

Grimace:

Do you know if this is a dealer specific offer? Mazda has offered this no payments for 3 months around xmas time in the past. I'm wondering if this is the same thing, or is it just Avante Doing something?

[Grimace]

Dpmmsp - I didn't get to speak to Eddie actually, I spoke to Gaspare. He gave me the lease quote of $394/mo + tax with $2000 down (but I'd put down more than $2000 to lower the payments) for 48 months, at 7.9% (I believe). They are actually getting 8 cars unspoken for between Avante and the other dealership they own.
At any rate, they were extremely polite, and didn't try to pressure me into anything. Just gave me the facts, and promised to give me a call when they got the cars in (if I don't call them first to let them know I've made up my mind.)
It was funny though when I mentioned I test drove a MSP and fell in love. They were wondering how I managed to drive one, and I said "Well, its one of 2 you sold..." :) They thought it was extremely cool that you did the parking lot thing, and even more so that it may result in a sale for them.
Newf - I believe all Mazda dealers are offering this deal - I heard it on the radio this morning - but the radio ad said the deal was on until Dec. 31, while the dealer said it was good until Jan 3?? I'll have to verify with them.

[dmitrik4]

the dealer might back date your paperwork in order to get you the deal. i think that is up to them to do that, but cool for you.

[Newf]

the lease deferal program is at all dealers, and it is only until Jan 3rd.

At least that's what I'm told.

[jroof]

Out of curiosity...I graduated from college in May of 2000. Do you think I still qualify for the graduate program? I'm within two calendar years but not within 24 months. Of course, by the time I get the car it will probably be 2003, so this is really a moot point.

[Grimace]

Yeah, that might be pushing it a bit jroof. Maybe if you got the car now, but I doubt waiting will improve your chances.

[Newf]

I was just over 1 month beyond the 2 year when I bought the mp3, and they still let me have it. I basically said....either you give it to me, and i buy the car......or I don't.