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Discussion Starter #1
Just got into a Speed6, traded in my 05 6S.
I had $2500 rolling in as negative equity, and only put $500 down for first month pay & out the door.
The vehicle is a sport, with the navigation system.
My lease is at $499/mo. Nothing I can do at this point, but am I paying too much?
Seems like everyone else here are getting blockbuster deals. Kinda makes me feel bad... :tear:
 

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So you traded your 6s and in the end, after your $500 down, $2000 went back into the overall price of the car. $500 is pretty low down payment on a lease, usually between 1500-2500. and on top of that they had to roll over the additional $2000 onto the price of the car. On a lease that is pretty steep for a dealer, but due to those i think it would be around $400/mo. Curious how much did they give you for your 6s and how many miles? Right now mazda dealers are fighting to get rid of their speeds which usually puts you in a good position to get around 6-7k off MSRP. Based on 6k off MSRP and your 2k roll over well say that you could have gotten 4k off MSRP which might put you around 20-24k based on options. at this point a $24,000 car financed for 5 years, well say at 5.9% (average loan rate) will pay $1416 interest per year making the actual price of the car $31,080 which would be $518/Mo. These numbers are all based on purchasing, not a lease, which is of course shorter term ect. also i dont know the sticker price of the speed6 your in or how much of a discount you fought for or trade in you got, and on top dont know the interest rate they got you in either. but perhaps it helped. if you can supply the other info i could throw you the numbers.
 

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So you traded your 6s and in the end, after your $500 down, $2000 went back into the overall price of the car. $500 is pretty low down payment on a lease, usually between 1500-2500. and on top of that they had to roll over the additional $2000 onto the price of the car. On a lease that is pretty steep for a dealer, but due to those i think it would be around $400/mo. Curious how much did they give you for your 6s and how many miles? Right now mazda dealers are fighting to get rid of their speeds which usually puts you in a good position to get around 6-7k off MSRP. Based on 6k off MSRP and your 2k roll over well say that you could have gotten 4k off MSRP which might put you around 20-24k based on options. at this point a $24,000 car financed for 5 years, well say at 5.9% (average loan rate) will pay $1416 interest per year making the actual price of the car $31,080 which would be $518/Mo. These numbers are all based on purchasing, not a lease, which is of course shorter term ect. also i dont know the sticker price of the speed6 your in or how much of a discount you fought for or trade in you got, and on top dont know the interest rate they got you in either. but perhaps it helped. if you can supply the other info i could throw you the numbers.
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ANd I vote you to be our Mazda6club financial advisor PLEASE!!!!! LOL....nice details!!!! Too bad I only graduated with Trig....

Anyways, you shoulda just put a bigger down payment then talked it down, I wouldn't say your getting ripped, because I know for a FACT not everyone on websites tells the truth about how much they got their car for....so....look at it this way, because you didn't give a large down payment like explained earlier, the 2k rolled over to your new price right?? Had you put down ohh say.....somewhere from 1500 to 3k, you could have EASILY talked the price down, making the rollover non-existant.... BUT, I take it you bought this car to your liking right? You did trade in a 6s for a Speed6 so it must have been to your liking....just think of it has all of your hard work will go towards making payments on your NEW car, and be proud of it overall.... IMO, you shoulda really gave them shit on the price....

When I asked about the 6 I have now, then, I talked them down from 21k to 17k because I put 2k down payment, and had a trade in....be an asshole to the dealers because in the long run, it's you who will pay, unless your cool with what they offer....

BUt overall, you got your new car, I'm sure your happy with it, so don't second guess yourself...HELL, YOU GOT A SPEED6!!!!
 

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You haven't given us any information. Your monthly payment means nothing without knowing how many years you will be paying it for. What was the final price of the car, what was the interest rate? :huh:
 

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You haven't given us any information. Your monthly payment means nothing without knowing how many years you will be paying it for. What was the final price of the car, what was the interest rate? :huh:
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Yep, I agree to the above...while rolling 2K into this probably didn't help, there's a difference between the price of a base sport and a loaded GT. Yet $500 does seem a little high for a lease though...
 

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Discussion Starter #6
Sorry everyone, the lease is for 36 months @ 15K miles/yr.
 

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You have to give us the buy-back details of the lease. It will define how much the dealer is expecting it to be worth when your lease ends. Since you are only paying the difference between purchase price and buyback amount, it doesn't matter if you paid full price, more-so how much the buyback is. Example: say you pay $32K, but buyback is $22K... Your lease is for $10K+interest, it would be the same payments if you paid $24K with a $14K buyback.

Also, you should never (check with your insurance co) put down money on a lease if you have state tax, or GST/PST. A friend of mine put $5000 down + $750 (GST/PST). His car was stolen in the first month and the insurance wouldn't pay for the future tax he paid, they would only cover the tax he paid on payments. Don't know if he was screwed over by the insurance company or it is a loophole.
 

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You should have just outright purchased the car, instead of leasing it....
 

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according to the pic isn't your payment $510 a month? looks like you got over $15,000 for your car which isn't bad but what condition and mileage did you have on your old car?
 

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Discussion Starter #11
according to the pic isn't your payment $510 a month? looks like you got over $15,000 for your car which isn't bad but what condition and mileage did you have on your old car?
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my car had 1 major scratch from grinding against a rock and a couple of other scratches all around the body. it wasn't in the best condition to be honest, and other dealers have only offered 14K. so i think i did pretty good there..

the extra 10 dollars comes from the extra insurance.. that covers up to $2500 worth of damages at the end of the lease. normally it is $600 but i negotiated that to about $300.
 
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