Lease $ on a fully loaded GT?

[bubu416]

I\'m leasing the M/3 5dr GT, fully loaded (moonroof, leather, 5MT).

Wanna know whats the average price range in T.O. would be, and where can you get the best deals.


Thanks!
bubu416

[thebone]

hi,

leased mazda 3 gt hatch, at, cloth, no moonroof. $3l5/mo, taxes in, $1300 down.

[bubu416]

Originally posted by thebone


hi,

leased mazda 3 gt hatch, at, cloth, no moonroof. $3l5/mo, taxes in, $1300 down.




How many month lease did you do? Where did you deal with?

I saw them dropped the ALR to 3.9%...quite attractive.

[Candyman]

I\'m waiting for a 4dr GT+GFX,auto, leather. $2000 down ($2500 OTR) + $337/month (tax in).

This is 48 month lease (1st payment in the $2500). Not sure if that\'s the best deal though. I feel I could have gotten better.:(

Candyman

[thebone]

Hi again,

leased for 48 mo 1300 + taxes = 1500. Payment on pick up will be 1481. 25000 km/yr.
We will be opting to have the undercoat done by dealer (Westowne Motors, Dundas st. w in Toronto)
This will cost an additional 523 dollars taxes in. We will be paying cash for that element. Our intentions are to buy out at the end of the 48 mos. We are also comtemplating the extra year bumper to bumper (almost) warranty. This will coast about 500. As I understand it at this point, should be chose to buy out we will be elegible to buy another 36 mo of bumper to bumper. Our thoughts are this would provide substantial protection against future repairs.

Any thoughts from you folks with regard to our plan would be much appreciated.

[TheProfessor]

Personally I don\'t understand the logic to lease a car with the intent on purchasing outright at the end. Why not just finance the car now since leasing will likely cost you more in the long run, plus you have the option to sell it whenever you want without penalty?

[Optimzer]

There are benefits to leasing with intent to buy:

Example: $26,000 OTR car (approximate numbers)

- the difference in cost b/t leasing and buying out vs. financing might not be so significant (say, $1,000)
- you don\'t pay any large amount for the car upfront. It is always the case that the longer you can hold on to your money the better off you are. You may be willing to put down $10,000 on a car upfront. Think of a buy-back as a delayed downpayment. The buyback may be more (say $12,000)
- your monthly payments are much lower when you lease
- you may be expecting your situation to change at the end of 3 or 4 years at which point with a lease you can simply \'walk-away\' at the end. For example, you may have plans to move, go back to school, work-related, family planning, etc..
- the car might be good in general, but you might get stuck with a lemon.. this will make it very difficult to sell if you financed the car. If you leased it, you can try out the product over a 3 - 4 year period to test it out. If you like it, then buy it with the money you intended to put down.
- you may get into a serious accident with the car. In this case, it would be best to get rid of the car but selling it would be difficult. Again, a lease lets you walk away at the end.
- you may / may not know if you will still want the car in 4 years. By leasing it, it becomes easy to change cars. However, you may have a situation where you may want to keep the car and transfer it to say a significant other, keep it in the family if it runs well, etc..
- whatever the extra cost of leasing is, it gives you quite a bit of luxury in terms of options. You just have to on an individual level figure out what options are important to you and figure out if the extra cost of leasing with possible intent to buy is justified.

:)

[TheProfessor]

Fair enough, but don\'t forget that many people get dinged with extra charges at the end of a lease, like excess km\'s, repair, etc. and then all of a sudden the $1K difference is now $2K or more. Plus, in your example of a $10K down-payment vs. a $12K buy out, the monthly payments are not that much different. I know if I were stuck with a lemon I would hate to be in a lease, I would sell the thing and buy something else, yet in a lease you\'re SOL. I\'m not saying leasing is bad, cause it serves its purpose for many people (espcially those who can write off the payments), however if your intention is to own the car, there is not doubt at all that it is cheaper to just finance the car. Don\'t also forget that rates are currently higher on the 3 for leasing than they are for financing.