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Discussion Starter #1
hi all, just got back from the local mazda dealership after test driving an '07mazda 6 sedan
I was wondering if you all could give me your opinions on this for leasing:

2007 Mazda 6, cloth interior, automatic, v4
Lease term: 2 year
Cash putting down: $5,375.00 <-- (without the cash down it would've been ~$600 per month)
Total Monthly Payment: $303.39

I only really wanted a short term lease, but I also got the prices for the 3 year lease which is

--> $281.28

Anyway please let me know what you guys think about the car. I haven't gotten it yet, but I wanted to know what you guys thought for the price for a v4 but '07.
Thanks in advance (and please be as brutally honest as you'd like)
 

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5 grand down on a lease?? This is a Mazda not a BMW. Forget all of that and just look for a advertised lease special somewhere else. Honda has a 2k down and 199 a month plus tax on Accord LXs.

Those numbers are a total rip off.
 

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Please tell me that's Canadian dollars. Hell, even then that'd be a rip-off.

$600/month? No way in hell. You could buy a MazdaSpeed6 at full sticker price and not be $600/month. At nominal interest rates of 5.9%, that's a note of over $30,000 -- more than 50% more than an '07 6i ATX.

Hell, you can get an RX-8 for $2,500 down and $299 a month.
 

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Discussion Starter #4
argh! I KNEW I was getting ripped off, they seemed really intent on selling it to me, maybe I just looked like a sucker... or my credit wasn't that great..


I don't know much about leasing, but I would rather not spend the 5k down to get 299 a month. Like someone else said here, I could rather spend 2500, and spend 299 a month for an RX8. So did they give me these prices because it was a NEW 07 mazda 6 sedan? I asked them about the 06's, but they kept saying that they just cleared up space on their lot for the 07's a month ago.

I just don't understand how they could give me prices like these?? and for a v4..? My friend is leasing a new cadillac for 300$'s a month, and that's a cadillac!.

I'll be going to the dealership on Monday, but please help me out on how much should i demand for this car? Should i look for certified reseller cars?
 

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Well, just do the numbers. Think of it logically.

You pay the $5,375. You then pay $303 for 24 months. You just paid $12,647 to essentially borrow that car for 2 years.

You could probably go to Enterprise rental and get them to rent you a car for 2 years and pay less than that.

For an idea on what you should be paying just look at all the lease offers that are available right now from Mazda:

A 2006 RX-8, a car that's $8,000 more than the one you're looking at, is only $299 after $2,600 down. A 2006 MX-5, a car a couple grand more than the one you're looking at, is $249 after $2,500 down. A 2006 MazdaSpeed6, a car that's 9,000 more than one you're looking at, is only $269 a month after $2400 down.

Compare your deal of $12,500 over 2 years to those others:

RX-8: $9,500
MX-5: $8,500
MS6: $9,000

You can pick up a MazdaSpeed6 on lease. A car that's almost $10,000 more than one you're looking at, for $2,500 less down, $100 less per month, for a total cost over 2 years of some 25% less.

It's possible that your credit sucks. But it would have to suck deplorably bad to get a lease price like yours The interest rate would have to be somewhere north of 25%. That's unheard of.

Only advice I can offer is to RUN from that dealer as fast as you can. Go look at some other dealer and see what they say. Only then will you know if it's the dealer or you. That and pull a copy of your credit report and see just how bad it is.
 

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Discussion Starter #6
Jeez.. I might as well get the 06' rx8...
And i'm pretty sure it will come with a lot more features than the 6 i was originally looking at..

As for my credit score, I really don't think it sucks THAT bad to the extent that they gave me SUCH a shitty deal.

The good thing is there are 2 more mazda dealerships about 10 miles from here, so maybe I can give them a call before going there and ask about the lease offers that I see on mazdausa.com (that is where you were getting the info for the current incentives right?). The rx8, for half the amount I'm paying cash down would be great... And the state I'm in (Texas zip 75060) isn't listed for higher prices.

Here's a link to the copy of the lease they were giving me:
http://img181.imageshack.us/img181/5435/img002ps1.jpg
 

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Man, that is absolutely ridiculous. You need to do some research before you go into a dealership. I just went to mazdausa.com and estimated payments on a 2006 6i (4 cylinder), with the exact same "Selling Price" that is on the scanned image you gave above and the payments were $343 WITH NO DOWNPAYMENT!!!

With an MSRP of $20k, you should be able to talk them down to $18-$19k (not sure how negiotable they are with 2007's, but that is reasonable), and then have them give you payments. Take those payments on paper, and walk out and go to another dealership and see what they say. Play them against each other. You don't owe the dealerships anything, dont be afraid to play hard ball with them!!

Here are some lease payments i pulled directly off of mazdausa.com

MSRP
$21,000... $396
$20,000... $352
$19,000... $308
$18,000... $264

This is on a 2006 6i on a 15,000 mile/yr lease with $0 down payment.

Good luck.
 

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Discussion Starter #8
Thanks everyone for the posts. It was completely stupid of me to walk into a dealership with doing minimal research. It was however the first time entering a dealership to discuss my very first car. Also I guess they could smell how new I was by the fact that my father didn't support my decision (or at least didn't have the time) to come with me to look at a car. It's ok though.

He talked to some of his friends and one of them recommended I get a Honda Civic because they have more of a resale value than Mazda (which he said was horrible). So I think I will be buying an '06 civic pretty soon. My father wants the budget to be a max of 15,000 but I don't think I can talk him up 4k more for the mazda 6i.

His friends also told him that me using it for personal and school reasons will not be worth the lease we'll be paying every month. Guys, please tell me if it is true what they say about the resale value being higher for the civic than the 6?

That is my father's only defense, the resale value. Don't get me wrong though! I respect my father and realize where he's coming from. I don't mind getting the civic at all, it's better than nothing right? But I just want to prevent a rash decision on his part just because he took the advice of his friend. This has happened before with a mercedes he prematurely bought (friends + himself) and the payment was killing us so we had to give it away.

I guess I just wanted to know if there was any validity in the higher civic resale value and if the 4k more toward the mazda 6 would be worth it when comparing to the 15k civic.

Thanks in advance everyone and I hope you don't mind me asking these immature questions. I just want to hear some advice before rashley rushing into another dealership like I did with the mazda originally. Thanks again, waiting to hear from you :)
 

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Thanks everyone for the posts. It was completely stupid of me to walk into a dealership with doing minimal research. It was however the first time entering a dealership to discuss my very first car. Also I guess they could smell how new I was by the fact that my father didn't support my decision (or at least didn't have the time) to come with me to look at a car. It's ok though.

He talked to some of his friends and one of them recommended I get a Honda Civic because they have more of a resale value than Mazda (which he said was horrible). So I think I will be buying an '06 civic pretty soon. My father wants the budget to be a max of 15,000 but I don't think I can talk him up 4k more for the mazda 6i.

His friends also told him that me using it for personal and school reasons will not be worth the lease we'll be paying every month. Guys, please tell me if it is true what they say about the resale value being higher for the civic than the 6?

That is my father's only defense, the resale value. Don't get me wrong though! I respect my father and realize where he's coming from. I don't mind getting the civic at all, it's better than nothing right? But I just want to prevent a rash decision on his part just because he took the advice of his friend. This has happened before with a mercedes he prematurely bought (friends + himself) and the payment was killing us so we had to give it away.

I guess I just wanted to know if there was any validity in the higher civic resale value and if the 4k more toward the mazda 6 would be worth it when comparing to the 15k civic.

Thanks in advance everyone and I hope you don't mind me asking these immature questions. I just want to hear some advice before rashley rushing into another dealership like I did with the mazda originally. Thanks again, waiting to hear from you :)
[/b]

Your Old Man is right. The resale on a Civic is going to be better. Hondas/Toyotas are known for their high resale value.

I pulled these off of Cars.com
Residual Values for a 2006 Honda Civic EX Sedan
24 months - 68%
36 months - 56%
48 months - 46%
60 months - 38%

Residual Values for a 2006 Mazda 6i
24 months - 55%
36 months - 46%
48 months - 38%
60 months - 31%

The difference is very noticable early on. After the first 24 months, they are going to be worth almost the the same, yet you paid $4,000 more intially for the 6... see below.

$15,000 x .68 = $10,200
$19,000 x .55 = $10,450

I am using your numbers, the Civic price could be different.

But, comparing the Civic to the 6 isn't easy. You are talking about two completely different cars. The Civic is an economy car, built for value for the $ and longevity. It's marketed to the younger crowd that is looking for affordable transportation. The 6 is a family sedan. Its bigger and and appeals to the family. The Mazda 3 is a direct competitor to the Civic, to put it in those terms. What are you going to be using the car for?

Sounds like you are a pretty young buck. The Civic is a great car. I leased one in college and you couldnt ask for a more reliable, cheaper car to drive. I would get 32mpg in the city and 40mpg on the hwy. Insurance is low since it is considered a compact economy car. I put two Honda dealerships against each other and walked out of there leasing a 2002 Honda Civic EX for invoice price, and that was in May. Who knows how you could do now so late in the model year. I suggest getting an EX model... but that is my own opinion.

Assuming you arent putting any money down on a purchase, you are always going to pay less for a leased car.

Maybe I am alittle biased. I am on my 4th Honda. I have had an 88 Accord, 02 Civic, 94 Accord, and my current 98 Prelude. I have car A.D.D. :drive:
 

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The Mazda 3 is a direct competitor to the Civic, to put it in those terms. What are you going to be using the car for?
[/b]
Except the civic has no torque. ;)

My wife bought an 06 RSX (civic with a different body) thinking that since it had 160 hp it would be comparable to the Probe GT she used to have. That car is such a disappointment. And now at 10,000 miles the front end is making grumbling noises and has to go in. Funny thing is we paid the $110 for the 10,000 mile maintenance which is nothing more than oil change and a thorough inspection of suspension, brakes and other stuff and the stupid front end starts making the noises the next day. Admittedly this is the only Honda product we have bought (have test drove numerous others though), but it will likely be the last. On a positive note, the interior quality is very good and mileage is decent (around 30), but the fact that you can now get an MS6 for around 22-23K and I am able to get almost as good on mileage (27-29mpg regularly) with TONS more power makes my wife rather angry.

They are different cars though - the hatchback on the RSX is very handy for hauling stuff.

Sorry if I wandered off topic, just trying to share some info.
 

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$5K down on any lease is crazy. You should only put first payment & security deposit. Anymore & you're wasting your money.

Its hard to compare leases since different cars have different residual values...not to mention manufacturers subsidizing the leases to move the cars off the lot.

Hondas & Toyotas, in general, will lease better than say Mazda, Subaru, Nissan, etc. due to their strong resale (residual) values.

If you're in school...why go with such a short term lease? Go to the other Mazda dealers & find a left-over '06 & lease it for 4 years (the same as the warranty term...'07 Mazdas get 3yr bumper to bumper).
 

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My advice is the same for anyone considering a lease. NEVER put money down on a lease. If you wreck the car in the first month that $5k is GONE. Take whatever you were going to put down on it, put it in an interest bearing account and withdraw the amount it was going to reduce your payment by every month to help offset the payment.

$5,000 / 24 = $208.33 a month

This way your money is making you money, your risk is $0 if the car gets totaled and your cash flow is unchanged.

PLEASE do not let them take you!
 
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