Buy payment vs Lease
- Thread starter MI MSP
- Start date
Hey
I worked with the finance guy at the dealership who found me 4.6% for a payment of $400.30 per month (after $500 deposit). I also had a check from Fifth-Third Bank (53.com) with me at 5.15% which would have been $409 with nothing down. I went with the 4.6% obviously! I do have great credit but by having the Fifth-Third offer in hand I got the finance guy to try harder than just Mazda Credit.
I think the residual value is going to be bad so leasing might not be a great option.
Also, on the subject of 'money' the Extended Servvice Plan for the MSP is the same price as the standard Protege, takes you to 6-years, 100,000 miles. Not a bad idea and is useable by the next owner of my car - unless I decide to void my own wrrenty
Also, Progressive does not have the MSP listed any differently than the regular Protege so I picked up a price break there too.
Andrew
I worked with the finance guy at the dealership who found me 4.6% for a payment of $400.30 per month (after $500 deposit). I also had a check from Fifth-Third Bank (53.com) with me at 5.15% which would have been $409 with nothing down. I went with the 4.6% obviously! I do have great credit but by having the Fifth-Third offer in hand I got the finance guy to try harder than just Mazda Credit.
I think the residual value is going to be bad so leasing might not be a great option.
Also, on the subject of 'money' the Extended Servvice Plan for the MSP is the same price as the standard Protege, takes you to 6-years, 100,000 miles. Not a bad idea and is useable by the next owner of my car - unless I decide to void my own wrrenty
Also, Progressive does not have the MSP listed any differently than the regular Protege so I picked up a price break there too.
Andrew
Albert and MI MSP - for sure we have to get together.
YellowMP5 - I am going from memory here... I got the car for MSRP of $20,500 + $168.00 doc/title/reg + 6% tax = $21,919. Take off my $500 (deposit) = $21,419, 60 months at 4.6% from Chevy Chase bank, $400.30 per month. I do have very good credit, homeowner, no late payments etc.
I signed up for the Mazda Extended Protection Plan which pumped the payment up to $422 per month. I have 60 days to decide if I want to keep the MEPP, I said yes up front because the MEPP for the MSP is the same as a regular Protege (approx $1800 to take you to 6 years, 100,000 miles. I rationalized it based on past experiences with my last three cars needing work right after the warrenty period ran out and the fact that my interest was so low I could go for it. I may decline it when the paperwork comes since 4 years, 50,000 is pretty good. What do you think?
Andrew
YellowMP5 - I am going from memory here... I got the car for MSRP of $20,500 + $168.00 doc/title/reg + 6% tax = $21,919. Take off my $500 (deposit) = $21,419, 60 months at 4.6% from Chevy Chase bank, $400.30 per month. I do have very good credit, homeowner, no late payments etc.
I signed up for the Mazda Extended Protection Plan which pumped the payment up to $422 per month. I have 60 days to decide if I want to keep the MEPP, I said yes up front because the MEPP for the MSP is the same as a regular Protege (approx $1800 to take you to 6 years, 100,000 miles. I rationalized it based on past experiences with my last three cars needing work right after the warrenty period ran out and the fact that my interest was so low I could go for it. I may decline it when the paperwork comes since 4 years, 50,000 is pretty good. What do you think?
Andrew
