All those "other costs" - what are they?

T

turner

Member

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None yet!

• Dec 26, 2012

• #1

Hi again everyone -

The more I look into the more questions I've got

Ok - so, like the title suggests - aside from "MSRP" - what are the other "legitimate" costs I'm going to have added on at the time of purchase?

I'm assuming at least a destination charge and a documentation fee, but beyond that I'm not so sure...

Any help appreciated.

thanks.

 

Z

zoomzoom1587

Member

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Mazda CX5 Touring AWD

• Dec 27, 2012

• #2

You will have to consider the following when purchasing a vehicle: Taxes, Title, and Registration for your state of ownership. There will also be a DMV fee and Tire fee which are usually between $50-100 and $10-15 respectively. Also take into consideration any rebates that may be available to subtract from the purchase price (price before taxes title and all the other extras I mentioned). For example I got a $500 rebate for Hurricane Sandy relief.

Do you plan on leasing, financing or buying? This will determine how much you will pay over time. They have 0.9% financing for 36 months currently.

 

T

turner

Member

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None yet!

• Dec 27, 2012

• #3

Thanks!

Mainly thinking about leasing right now. I'll look the others up for NJ. Just to make the math easier I'm using a round 30K for crunching numbers.

cheers

 

Z

zoomzoom1587

Member

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Mazda CX5 Touring AWD

• Dec 27, 2012

• #4

No problem.

Be aware that leasing is the most expensive in the long run, but whatever you can afford at the moment is what really matters. I would consider financing at 0.9% while they still have it.

I outright bought mine with the cash I got from my totaled Ford from Geico and some of my own money.

Good luck, it is a great vehicle!

 

T

turner

Member

:

None yet!

• Dec 27, 2012

• #5

Thanks again-

Even with financing at .9, a 72-month buy comes out to about 360/month... I'm getting about $320 per month on the lease, but I may be doing the calculation wrong. Last night we were doing some numbers and it seemed to make sense to lease, even with a good down payment, if you think you'd replace your car in 9 years (we figured 3 360-month lease periods). Also full warranty for those 9 years during a lease.

Thoughts?

 

G

Gio26NJ

Member

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2013 CX-5 GT AWD Tech Package, 2014 Mazda 6 Touring

• Dec 27, 2012

• #6

How much do you plan on putting down and do you have a trade-in or no? even with a large downpayment and 1.9% 6 year loan I'm still paying at close to $400 a month (This based on my OTD price of $32,758 + 1,100 for 6 year Extended warranty for a total of $33,858)

I plan to make extra $2,000 payment (tax season lol) every year to pay it off way before that 6 years though, I can't stand paying interest.

 

P

PhoenixINX

Member

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2013 Mazda CX-5 GT

• Dec 27, 2012

• #7

Without this turning into a buy versus lease discussion, here's a decent article discussing the pros and cons to each.

http://www.smartmoney.com/calculator/autos/buy-or-lease-a-car-1302833645461/

One thing to point out, EVEN if you lease, you can still negotiate your principle price down from MSRP.

As for what you're suggesting, am I understanding you would lease the vehicle, then "re" lease it through two more leasing cycles? I've heard of people leasing used vehicles, but it's incredibly rare, and you would be surprised that your payment would increase in the second cycle due to the depreciation being less. If you goal is to own the vehicle for the long term, you're best to buy it outright.

 

T

turner

Member

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None yet!

• Dec 27, 2012

• #8

Hey guys - thanks for your help!

Gio - no trade in, and between 5 and 10k, depending on what makes sense. At a 2.2% lease rate I'm inclined to keep my deposit smaller. No trade-in.

Phoenix - sorry, I meant lease 3 new vehicles, not the same one 3 times... lol.

 

G

Gio26NJ

Member

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2013 CX-5 GT AWD Tech Package, 2014 Mazda 6 Touring

• Dec 27, 2012

• #9

Ok let's do this

Will assume you're getting the GT AWD with Tech Package and no extras

MSRP - $30,715 (includes Tech Package and Destination fee)
7% NJ tax - $2,150
Tax, Title, Registration - in my opinion should not exceed $300, anything over that is ridiculous

Comes out to a total OTD price of $33,165

With $5000 down and a 6 year loan at 2.2% you're looking at $418 in monthly payments
With $10000 down and a 6 year loan at 2.2% you're looking at $344 in monthly payments

If you can do the $418 payments I'd say go for it, you're paying an extra $70 per month but saving yourself $5,000. You can make extra payments in one lump sum or during the year to make up for it.

 

Last edited: Dec 27, 2012