Has anyone done the Single Pay Lease?

[SABIO]

Just wondering if anyone one else has? Saved a ton of cash.

[SABIO]

ummm.. Do people know you can do a single pay lease through Mazda?

[TheProfessor]

I\'ve never heard of this, can you elaborate:)

[Optimzer]

I\'d guess that you pay an entire fee upfront which is less than the total lease obligation in a traditional lease, but yeah, definitely elaborate I\'d like to hear more

[billyfo]

I know others can have single lease payment, but don\'t know for Mazda. Although it has quite a huge amount if you do pay it single, but if I had that amount of money, I would buy the car instead or at least make a huge downpayment, and finance the remain amount.

[SABIO]

Mazda does do a single pay lease.

(forgot to add)

2004 Sport GT 5spd A/C[b]

[b]leased vehicle amount / includes freight and pdi $21,960.77
Residual amount of vehicle $13,835.29
Amount to be amortized $8125.48

Lease charges @ 5.07% $2039.34 (I have no idea how this figure works out)

Base monthly lease $282.36
total of all monthly payments X36 $10,164.82
GST and PST $1524.71


All the other good stuff Tax,Tax and another Tax !!! $474.18

Grand Total due at Signing $12,163.71

Which is the equivalent of paying $337 a month
If I want to buy it (at anytime from mazda), I pay the #13,835.29.

So in the end... I got a cheaper lease. It is like pay for half, drive it 3 years, pay the other half.

It might not be for everyone.....

[Jeff-TheBiz]

Actually the term is called \"Advanced Payment Lease\"

And how it works is this:
You pay all of your payments up front when you take the car, and Mazda Canada Credit rewards you by lowering the interest rate by 3% (on a 36 month term). So based on current program you could lease a M3 at 1.9%!!
Bad news... You can\'t have a trade or put money down. You can pay for your Freight, PDI and all that stuff up front if you choose..

Great idea, but I still thin Multiple Security Deposits are a better idea.
:)

[SABIO]

Actually, While I worked for Ford for 5 years it was called *Single Pay Lease*
I used that term at the Ford...err.. Mazda dealer and they knew what I was talking about

The money you put down, is the entire amount up front.:zzz

[Jeff-TheBiz]

Same thing... Mazda calls it an Advance Payment Lease.

Great advantages, if you have the up front..

[SABIO]

I guess if I didn\'t pay it all up front.... I would have had the cash for the Turbo! :D