2004 to 2016 Mazda 3 Forum and Mazdaspeed 3 Forums banner

21 - 25 of 25 Posts

·
Registered
Joined
·
78 Posts
$27,151 with the tech package, AT, and $280 in options that I'm not interested in. I just got a quote back from Putnam Mazda in Burlingame for $25,698 with the tech package. It's the last one left in their inventory with those options which might explain the price drop to clear their inventory. From DGDG, I got a quote of $26,981.
What is the invoice price?
 

·
Registered
Joined
·
10 Posts
Discussion Starter #23 (Edited)
Before I started in the car business, I never understood the concept of leasing either. Until I started getting feedback from customers who have been doing it for years.

If you buy the car fully, you're on the hook for the market value. Imagine what would happen to that if Mazda made a serious boo-boo like VW and GM? How much value would your Mazda retain then after all that? What if you live in the Northeast like I do and you have an AWD CX-5 and suddenly no snow for 3 winters? What if you drive so much that you depreciate the car faster than the normal rate the car itself depreciates? Look at all the technology that these cars have and how fast technology now advances. In 3 years, our Mazdaconnect systems will be outdated. Think about it, why are cell phone contracts only last 2 years? Because in 2 years the capabilities of technology literally DOUBLES. There's plenty of arguments for a lease option.

This is why I lease my daily drivers. I've had 8 cars over the years and every one of them always had some sort of issue that got me taking the bus or left me stranded on the road. It's also cost as well. I realized that on a 5 or 6 year loan, eventually I'll be paying for maintenance and parts ON TOP of the monthly note. Even after paying it off, keeping a car running once it goes over 100k will pretty much cost the same as the note itself. At that point, why am I keeping a 100k mile car that at this point is not worth anything and still sinking money into keeping it running? Granted, I can keep leasing and always have a payment but on the buy option I have the same scenario...

So I came to the conclusion that if I'm always going to have some sort of money going into a car, I might as well put it into have a new, reliable car every 3 years. I have an 84 Trans Am that can feed my hot rodding habit anyway so I have no itch to do anything on the daily driver.

For the high mileage driver, it can also go either way. Buy, drive it into the ground, and accept the fact that your car won't be worth as much compared to what you paid for when it was new (and also consider the fact the ENTIRE time you never really owned the car while you are paying it off, because the bank has your title. Once you're done though, you own a 5 or 6 year old car with 80-100k miles). Lease, drive 20-30k a year, pay depreciation up front, and get out of it and into another car...rinse, wash, repeat.

The only way you have no choice but to finance a car is if you drive over 30k a year. A lease car can't have over 100k miles over 3 years.

Anyway, that's my .02. Pros and cons to both options, it all matters what works best and what you feel comfortable with. This ain't a pitch, just an honest observation and I get nothing out of it.
I don't think of a car as a house. It's a depreciating asset. I purchased a certified 2008 Toyota Yaris in 2010 from Enterprise for $10,600. It had 43k miles on it when I purchased it and I currently have over 183k miles on it. That's an average of over 25k miles a year. In one year when I had a longer commute, I drove 40k miles. I recently changed out the rear brakes after driving 137k miles on it. The front brakes still have 4.5mm of wear left and the tires have only been replaced once. My annual maintenance costs are under $700 and I would have roughly the same maintenance costs whether buying or leasing. I haven't compared leasing to owning costs on a Yaris but I would think in the long run leasing would cost more.
 

·
Registered
Joined
·
27 Posts
2500 down
337.77 * 48 = 16,212.96 + 12,564 = 28,776.96
273.20 * 60 = 16,392 + 12,564 = 28,956
A few things -

1. Make sure the advertised lease monthly payment is tax included (as it usually doesn't). Actual monthly will be higher if it's not the case.

2. You don't have to pay an acquisition fee on a finance like you do on a lease, which is usually $600-$800 depending on vehicle make.

3. You seem to have forgotten to add back the $2500 to get the total payment number above.

4. It's never a good idea to put any money down (besides the fees/taxes/1st month) on a lease as you will not get it back if the car is totaled.

5. The fact that you can get 0% finance makes leasing of the same vehicle and buying it out at the end a more expensive option, period.
 

·
Registered
Joined
·
1 Posts
Well, I was wondering could it be much worth to take a credit from a credit company to buy a car, rather than take a loan for a couple of years to pay for the car
 
21 - 25 of 25 Posts
Top