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Mazda RX-8 Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,515
edited April 10 in Mazda
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Mazda RX-8. Thanks.

Car_man
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  • Looking to lease a 05 RX-8. Credit score is about 780. Can you tell me a reasonable cost for a three year lease. Looking to put about $ 1,000.00 in as cash.

    Thanks for your help!
  • Hey Mark74,
    I was going to lease so I know alot more than I did before. Anyways what I was told is that you take the price of the car divide that by 2 minus your down then times it by 36 months and that should be your payment for your lease.

    Ramses
  • Thanks for the quick reply. If I understand you correctly and the car is valued at 26K, I take half of that, which equals 13K, minus 1K times 36. The number would be 432 a month. Did I get it?

    Thanks again!
  • kyfdxkyfdx Posts: 30,497
    That would be a really rough rule of thumb...

    Lease prices vary according to residuals, money factors, etc.. Sometimes lease prices are very cheap, relative to MSRP, because manufacturer's are incentivizing the purchase.. (Those are the leases you want!).

    Another rough rule of thumb.. [$15 per thousand of MSRP = monthly payment]... will usually lease a car for 36 months, 15K miles/yr., taxes included... with only 1st payment and security deposit due at signing... Actually, this is a little on the high side, and I'd never lease a car that was more than that... The really good leases are $11-$12 per thousand of MSRP..

    Anyway... the month just started, and it takes Car-man a few days to get the information on all of the new lease programs.. He will be here before too long to answer your specific questions regarding leasing an RX-8.

    regards,
    kyfdx

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  • Hi mark74. The following article describes the actual formula that is used to calculate lease payments: Calculate Your Own Lease Payment. I would be more than happy to use this formula and Mazda's actual lease program to estimate what sort of lease payment you can expect on this car for you, however it would be a big help if you were able to provide me with the full MSRP 9including the destination charge) and an approximate selling price for the exact car that you are interested in.

    Car_man
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  • wantmbwantmb Posts: 15
    CarMan,

    Can you please let me know what the April residual and Money factor is for the 2006 RX 8 manual transmission in Maryland. I understand they have a $500 cash rebate and $1000 Dealer cash as well as a lease special. I am in the market to lease 24 or 36 mos 15k. The vehicle MSRP i'm interested in is $32,135. What would be my payment pre tax and post tax (5% in MD)with $0. Thanks for you help in advance, I've been following your advice which has served to be very helpful with our MB 350 several months ago.
    Thanks Again!
  • kg6ckg6c Posts: 18
    I had a quick question, I am not sure if this is the right place to post it, so I apologize if this is the wrong place.
    I have a RX8 lease that is coming up next month, and my questions were:
    If my RX8 needs new tires will Mazda charge me for them.
    Also, the same goes for the brakes.

    Thanks
    K
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello kg6c. This is a good place for this sort of question. I assume that your lease is through Mazda Credit. Whether you will be charged for excess wear and tear for your car's tires depends upon how worn they are. Specifically, Mazda Credit charges consumers a penalty for tires that have less than 1/8" tread depth in all grooves except the outer grooves, or that have outer treads that have no wear remaining, or have internal belts or casings that are showing. You can find out more information about Mazda's lease-end inspection process and what it considers to be excess wear and tear by visiting the following site: Mazda American Credit - Excess Wear and Use.

    Car_man
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  • mgbaumannmgbaumann Posts: 1
    Car Man,

    I would like a little assistance as I just can't wrap some numbers around for a new lease.

    Currently, I am driving an '04 RX-8 Manual Touring with a couple of other minor add-ons. The retail price of the car was $31,409. I leased with $1800 Cash/$1800 Trade In, plus $2500 in rebates, S-Plan discount, for a total Cap Cost of $23k and change. My monthly payment for 30 Months/30,000 Miles is $217 (Including Mazda's Tire Care Package)

    Now, here's my dilemma. The mileage for the lease was plenty early on but I have since relocated and my monthly mileage will exceed the allottment within the next four weeks. My lease is due in April, but the way I figure it, if I roll the remaining payments into a new lease, it will be cheaper than paying the extra mileage. I have about $1700 remaining in payments, plus am estimating $1800 in excess mileage if I ride out the lease.

    What I'd like to know is any advice you may have on my options plus the money factor and residuals for a new '06 Manual RX-8 for 24/30/36 Months at both 12,000 and 15,000 Miles for all three durations.

    Thank you very much.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mgbaumann. You are right that you the cost of your remaining payments and your excess mileage charge that you would have to pay if you continued driving it are about the same. However, you are not taking the fact that you are going to have to pay for those miles anyhow into account. If you don't put them on your old car, you will have to pay a higher monthly payment on your new one because of its higher mileage allowance AND still pay for your old car.

    Anyhow, Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2006 RX-8 with a manual transmission and 15,000 miles per year are .00172 and 59%, respectively. The numbers for an otherwise identical 36 month lease of this car are .00267 and 50%. If you were to lease it with only 12,000 miles per year, its residual values would be 2% higher. When negotiating your lease on this car, make sure to take the $2,000 lease cash that is currently available on it into account. It will help you to negotiate an attractive capitalized cost.

    Car_man
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  • car_man

    i am looking at leasing an 06 rx8, either a manual or auto.

    24 month, 15k/or 18k do you have the available residual values and factors for this month?
    what does mazda typically require for "a" program for credit?

    thank you for your help
  • Here's the information that you're looking for, ashsproperty. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2006 Mazda RX-8 with an automatic transmission and 15,000 miles per year are .00172 and 55%, respectively. The numbers for an otherwise identical lease of an '06 RX-8 with a manual transmission are .00172 and 59%. I'm not sure exactly what credit rating Mazda Credit requires for consumers to qualify for its top credit tier.

    Car_man
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  • Can anyone post the residual value and money factor for 48 months for an RX-8?
  • Hi anijhaw. This car's residual values vary by trim level and by mileage allowance. For now I will assume that you are interested in the 2007 RX-8 Touring with 15,000 miles per year. Let me know if you want something different. Mazda Credit's current buy rate lease money factor and residual value for a 48 month lease of a 2007 Mazda RX-8 Touring with 15,000 miles per year are .00244 and 43%, respectively.

    Car_man
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  • p996p996 Posts: 56
    Hi carman and everyone else!

    I am looking to lease an 07 touring auto for 24 months with 10k miles a year.

    Is it possible to get the current rates?

    Also, did anyone manage to get an 07 touring for around 27k or so? Looking to get as much off MSRP as possible.
  • janmicjanmic Posts: 1
    Anyone know the terms of the current Mazda lease promotion?

    Specifically, I'm looking to determine the residual % (for 15k) and the money factor to negotiate my own deal. If I knew either the capitalized cost for Mazda advertised deal below I can calculate the money factor.

    2007 RX-8 Sport MT $329/Month, 36-Month Lease, $2,329 due at Lease Signing after $1,500 cash back. Includes 1st Month's Payment. Excludes taxes, title and fees. Lessee responsible for excess wear and mileage over 36,000 at $0.15/mile. Total payments of $11,844. Purchase option at lease end for $13,785.

    Thanks for any help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, p996. Mazda Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Mazda RX-8 with 10,500 miles per year are .00129 and 60%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi janmic. Mazda Credit's current 36 month, 12,000 mile per year buy rate lease money factor and residual value for a 36 month lease of a 2007 RX-8 Sport MT with 12,000 miles per year are .00189 and 51%, respectively. When negotiating your lease on this car, make sure to take the $1,500 lease cash that Mazda is providing on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

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  • 23109vc23109vc Posts: 218
    FYI

    anyone considering an RX8 might also be interested in the S2000. if you have to have the rear seats, then it won't work, but if you want a small light fun car with a high revving powerplant (and you don't HAVE to have a rotary) then the S2000 will also satisfy your "need for speed".

    i have been cross shopping both. i noticed that since April, Honda has $2000 dealer cash. so the incentives on the Honda are now BETTER than the Mazda..and the RX8 will depreciate like a brick...

    so if you are looking to buy or especially if you are thinking of leasing...you can probably lease an S2000 for less..which really is a better car.
  • whitdogwhitdog Posts: 5
    Car_man (or others): Can you give me the lease factors from Mazda Finance for a 2007 RX-8 Grand Touring trim, 12K miles/yr. Looking for 36 or 39 months, but if there's a better term option I'm open. This would be in the Baltimore MD area if that matters. Dealer is offering $3000 below invoice, which I'm assuming includes part of his holdback since the customer cash from Mazda seems to be $2250.

    Thanks!
  • Does anyone have the August program?

    MF's
    Residual's
    Rebates?

    Im looking for an 07 Sport, 6sp man, 36/15k
  • 23109vc23109vc Posts: 218
    I went to my local mazda dealer. test drove a loaded GT 6 speed RX8.

    loved it. i really really liked the car. MSRP was around 33k. they said they'd sell at invoice. problem is the lease figures.

    residual for a 36 month lease with 12k is 50%.
    MF was .00176
    if you put down 2500 up front. you pay $450/month with tax.

    on an S2000 - which comes standared with about what the fullyl oaded RX8 does, you put downt he same 2500, buy at invoice and you're about a full $100 LESS.

    i like the RX8 but for $100/month.. i think i'd rather have a convertible.

    c;'mon mazda. you need to do something to move these things. if price were the same i might go rx8. not for 100 MORE a month though.
  • neomckneomck Posts: 1
    What are current lease programs on 2008 rx-8?
    Can the dealer use $3000 incentive to bring down the cap cost?
    What is current MF?
    What is residual value of 2008 rx-8 40th Anniversary?

    I'm looking for:
    $26,000 cap cost
    .00176 MF
    51% or better on the residual value since it is a 40th Anni version.
    = $390 per month with no money down.

    Most dealers still have 2007 rx-8s and 2009s are due in a month or two. I'm thinking they want to get these out as soon as possible.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi neomck. Mazda's lease program for this car varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Mazda's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Mazda RX-8 (I don't believe that Mazda is providing lease support on the '08 model any longer) with 15,000 miles per year are .00140 and 50%, respectively. Mazda is providing a $1,000 cash incentive on leases of the '09 RX-8.

    You would probably still be able to lease an '08 RX-8, but given Mazda's lack of lease support you would probably have to do so through an independent bank. If you do lease this car through a bank other than Mazda Finance, you would be able to use the $3,000 cash incentive that is currently available on it to reduce its capitalized cost.

    Car_man
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  • Hi CarMan,

    WHats the Res. and MF for a 36 month, 15k miles lease?

    Any additional money or incentives on the lease?

    Thank you so much, most useful place on the NET! ;)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here I am to save the day, coast2coast :). Mazda Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2009 RX-8 with 15,000 miles per year are .00160 and 48%, respectively. Mazda is currently providing a $1,750 cash incentive on leases of this model.

    Car_man
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  • slockoslocko Posts: 107
    Hi. It's slow around here in lots of these forums. What is the latest on the RX? Any lease incentives? I'm assuming I should be able to get invoice on these right?

    Does anyone know of any 2 door 5 seaters besides the Saturn Astra?

    Thxs.
  • Hi slocko. Mazda is currently running a special lease on the 2009 RX-8. Its 36 month buy rate lease money factor for this car is .00149 right now. That's equivalent to an interest rate of slightly over 3.5%. In addition to this special lease rate, Mazda is providing a $1,500 cash incentive on leases of this car.

    I am not personally all that familiar with what the market is like for the RX-8 right now, but given the current auto market I would not be surprised if you were able to get one for dealer invoice.

    Car_man
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