Lease Deal

[GasSaver14]

4th email trying to get the details, anyone else have this problem?

My last email out.

In a lease, the devil is in the details.
I'm not going to do this in person, there are 10 x more shenanigans in a lease than a loan.
Please email me the details.


Dealer returns this to me.

Okay Mike there is no devil in a lease, it is actually the best way to buy a vehicle ! When you lease your paying almost no intrest and your residual at the end of the lease does not change. At the end of the lease you have four options keep it ,sell it and make a profit because its a mazda 3 number one on alg guide for holding its value the best, trade it anywhere in the united states your not obligated to go back to the same dealer or you can walk away from it and not many people are walking away from them anymore. The car that you are looking at has the latest technology best in class fuel economy most dependable in it's class and lowest cost of maintenance.I have been doing this 19 years I don't play shenanigans!

I'm beginning to think this car dealer is the devil!!

 

[Reacher]

I used to sell and lease cars for a living. What he says is true as far as the options.

1. You can turn it in and walk away - if there are any imperfections in the car that are considered to be beyond normal wear & tear, you will be on the hook for the repairs. If you are over on the mileage, you will have to pay a penalty per mile. (this is not that different from a purchase because part of the value of your trade-in is based on mileage)
2. You can trade it in - if the trade in value is worth more than your payoff value, then you keep the difference. (just like a conventional purchase)
3. You can sell it outright to a private buyer - also the same as a purchase.
4. You can refinance the vehicle on another lease or a purchase and keep the vehicle. (this is by far the most costly thing to do even though you might end up with the lowest payments)

If you have resigned yourself to owning a new car and eating the depreciation every two years and have just decided that you are willing to put up with payments forever, then leasing is a way to keep the payments low in that situation. If, however, you would like to actually own your vehicle someday and be without payments, leasing is the worst thing you can do. You might pay higher payments with a purchase, but you will say tons of money in the long run.

 

[Poco Askew]

I've never seen a lease that makes sense (for me). Pay more / own nothing.

 

[nitsuj]

Mazdas do hold their value well.
I paid ~$17,000 for my 2010 iTouring in Nov 2009. 2.5 years later I traded it in for $14,000, + $1330 in tax savings on the new car (in WA you don't pay tax on the trade in value) + $500 loyalty for getting another Mazda. I basically was out $1200 on a 2.5 year use of a car. Much better than a lease.

I didn't do as well on my trade in of my 2012 as the 2014s killed the trade in value fast on the Gen 2's

 

[GasSaver14]

I agree he gave me the options.

My problem is, he would not give me the purchase price, any cost of fees or the balance at the end of the lease.

As far as my leasing decision.

I have never paid credit card interest in over 15 years.
I have a 10 year home loan i plan to pay off early.
And i have some other toys i'm paying A 0% loan for.
This is my splurge.

 

[Ki||ian]

Could be that some of that information can only really be provided if he knows your financial specifics? Things could fluctuate depending on your credit.

I'm a freelance photographer/videographer and I don't like giving prices until I know the specifics on a job cause then I'm kinda locked into a quote if things are more complicated. It's kinda like that.

 

[Rocket]

Concerning the lease, that's a personal decision based on your situation. There's some strong pluses, i.e. low monthly payment, which make sense assuming you can put the saved money to good use elsewhere. On the other hand, there are strong minuses, especially if circumstances require you to get out early.

As far at "the devil" goes, I think what you need to remember is the finance guy does this 20 times a day, you do this once every 4-7 years. So your best defense is knowledge of the process. Be upfront with your finances, see what he says, double check the math, and then decide if he's trying to "screw" you. Always remember, you can simply stand up and walk out. That's the strongest hand in the whole negotiation. If it doesn't feel right, walk away. They will be happy to start over right where you left off tomorrow, next week, or next month. Make sure you're good with the deal before you drive off.

Good luck!

 

[GasSaver14]

Thanks Rocket
Half the dealers are screwing with me full retail if i lease it or some other kind of screwed up BS.

This is what i'm currently working on.
Last email sent

Would you be interested in competing with a competetive offer?
2014 MAZDA3 s Grand Touring 4-Door + LIQUID SILVER METALLIC + GT technology
package with Radar cruise control?
MY price $26,800 + $795 destination fee. Tax is what tax is, 7% in my state.
To be a lease purchased
$595 Acquisition Fee
$000 Desposition Fee
$000 Purchase option Fee
I can sign today, or wait for a special order.
Thanks MIKE

If they can get one of these in Washington State, or New Jersey i will be flying out first avialible flight. I have more free plane tickets than i can use in 10 years.
The road trip back will turn into a vacation.