I got Splan pricing (invoice minus $500) without having to bring in a PIN. I bought a GT AWD Galax Grey, black interior, GT assist, Moon/Bose, Compass, roof rails (dealer installed) for $38,464 out the door. Here is the break down:
$36720 Invoice Minus $500 S plan discount $36220 price for car $2203 sales tax (pre $500 discount calculated) $40 license and title No doc fees (they wanted to charge $199) No ad or regional fees
I used the 1.9% financing over 36 months - I can earn 5% (3.5% after taxes) in a money market fund, so it made no sense to pay cash.
Grand Rapids Michigan - East Imports/Fox Motors. They looked up a list of companies eligible for the Splan, and mine was on it. Our HR department did not have any codes to give me though. Our fleet manager eventually gave me the name of our Ford fleet rep (even though Fords are no longer part of our fleet) to get a PIN. I had the price I wanted by then.
Enjoy. Thanks for the info. If you don't mind me asking, what did you put down and how much are the payments at 1.9% 36 mos. I usually just do a cash deal.
Looking for a 2008 GT AWD White (E)/Black (I)TowPkg/NAV/RSES/roofrails/CompassMirrorHomelink/Splashguards/BSMS
Has anybody obtained a good price on a vehicle (any color) with these options?
Here in West Palm Beach Florida is difficult to find an AWD which is useful here in the rainy season. Towing package is also difficult to find here but not in midtown Manhattan Mazda inventories. The “combo” Remote entry start, something not needed in this climate and many Florida dealer inventories are full of CX-9 with it. Sirius Satellite is Radio is another dubious “combo” since this may impair the operation of your iPod. The wheel locks “combo” can be bought in the Mazda dealer parts store or in the Internet at a lower price but many 2008 CX-9 have it. The roof rails look nice but I do not know if the will create much turbulence of air flow to increase road noise, besides they can only hold 100 pounds. White (E)/Black (I) is difficult to find everywhere in the U.S., painting a car white pearl is not more expensive than any other metallic paint but they charge $200 for it, go figure.
I put no money down and the payments are $1100 per month. I could have paid cash for the car, but that would not have made any financial sense. If you can borrow at a lower rate than you can earn after taxes (1.9% vs 3.4%), you should push off payments as long as possible. If they had given me a choice between cash back and the 1.9%, my breakeven point would be about $960. I.E. if the cash back is $1000, I take that and pay cash for the car. If the cash back is only $500, I take the 1.9% financing, make payments, and keep my cash in the Vanguard MMF.
The “combo” Remote entry start, something not needed in this climate and many Florida dealer inventories are full of CX-9 with it. "
I think many would find it useful to cool the car off before you get in it...
"White (E)/Black (I) is difficult to find everywhere in the U.S., painting a car white pearl is not more expensive than any other metallic paint but they charge $200 for it, go figure. "
Most car companies charge more for pearl paint. What makes you think it's not more expensive for that type of paint?
White pearl is a white metallic nothing else, is not more complex to accomplish than any other metallic color, but there is great demand for it, therefore profit. BMW charges more for their metallic colors, but most other companies do not. Remote entry start is marketed mostly for winter/snow season locations.
White pearl is a white metallic nothing else, is not more complex to accomplish than any other metallic color, but there is great demand for it, therefore profit. BMW charges more for their metallic colors, but most other companies do not. ""
If you don't think it is worth the $200, just choose another color. I have seen premium color charges at more than BMW. Toyota charges $220 for their white Pearl on some cars. Saab has 3 times as many premium colors as basic ($550 each). Like you said, supply and demand rules
Remote entry start is marketed mostly for winter/snow season locations. "
It doesn't have a use when the temparature is in the 90's and up half the year? I'd personally rather get in a freezing car than a boiling hot one.
The $500 discount for S plan is still going on - my guess is that dealers are not required to communicate that to buyers. If you have Splan, go to multiple dealers till they fess up about the $500.
I just bought one today and wanted to post as I found everyone's information very helpful. Here is what I got plus the options: 2008 AWD Touring CX-9 Touring/assist package (navigation with backup camera) Moonroof/Bose sound Roof rails autodim mirror all weather mats Stormy Blue w/ sand interior Total before taxes/tags $35,298. According to Edmunds and consumer reports pricing, this is $100 over dealer invoice and MSRP is $38,437. Went to Heritage Mazda in Baltimore, they were easy to work with and reasonable. Hope this helps anyone who is negotiating.
I want to turn in my Pilot lease 7 months early for a CX-9 ($1,890 in payments). I am looking to purchase CX-9 Sport and dealer offered to do deal for $465 a month with 5K down. Is dealer really eating nearly 2K or is he just going to buy out lease and sell vehicle as a trade? Is this a good deal? Finally, I recieved a $500 Mazda coupon in the mail. Is this something I can use above the incentives that the MFG has currently factored into the sale.
Is this for a purchase or a lease? What is the loan term for this purchase, additionally you shouldn't even be dealing with the dealer until you're ready to close the deal. The financial component should be secured before you ever physically set foot in the dealers showroom. I'm not a financial expert, but I would never go through the dealer for financing, I'm willing to take a bet that if the dealers keeping your attention on the monthly payments as opposed to the total purchase price that means that there are possibly a myriad of dealer assigned charges ie. pinstriping, factory this, and factory that. If I were you I would focus more on the purchase price.
This was for purchase. We were prepared to close the deal... at our price and with dealer taking over our lease. He wouldn't so we decided to see if anyone else would. Mazda financing is 4.9% which is way less than i can get on my own, so theres no reason to look elsewhere. The term is for 72 months.
Obviously, if the financing was $488 at 2% over invoice,and I'm trying to get the payments lowered to 400 per month, its a good deal. (invoice at that rate would be $424 a month.) Either way, the sticking point is the dealer wants to build the term left on my lease into the cost. I need to know if this is a real cost to him.
A few things. First, anyone who thinks that ANY dealer is going to take your upside-down current vehicle (upside-down meaning that you owe more on it than it is worth) and simple EAT the loss is crazy. NO dealer is going to do that, no matter what they advertise or tell you.
The other thing is that most people think that when you sign a lease, you're going to owe 100% of the payments, no matter what. This is rarely the case; MOST leases have an early termination clause. It can vary, but typically, you have to pay the difference between what you've already paid for in terms of depreciation versus what the vehicle is really worth plus a penalty which can be anywhere from a couple hundred bucks on up to maybe a grand.
Remember, with a lease, you're basically paying off the depreciation between what your car was worth when brand new and whatever they estimated it to be worth at the end of the lease (your residual) plus what amounts to interest (they DO have to make money on the financing, of course).
Now, if you've got a 3 year lease and it is now only 2-1/2 years into it, your car is probably worth somewhat more than what your residual is. So they basically look at what your car is worth now (compared to the residual) and how much you've already paid against it and then charge you the difference. So if your residual is $10,000, the car is now worth $12,000, it was $20,000 when new, and you've already paid off $7,000, in most cases, you basically have to pay off the difference between $13,000 ($20,000 new minus $7,000 paid off so far = $13,000) and what it is worth now ($12,000) so you'd have to pay $1,000 plus whatever early termination penalties there are (maybe $500). Then you can return the car and that's that.
That's a bit of an oversimplification (because it goes by the current buyout and not exactly "what it is worth") but gives the basic idea.
Another option of most leases is an early buyout. Sometimes, there's a penalty, sometimes there isn't. Basically, you can usually buy out your lease at any time and then own the car. You can either keep it or sell it and if it is truly worth more than the buyout amount, you can make a profit.
Chances that the dealer is going to do that are slim to none because the buyout is likely going to be more than the car is worth unless they REALLY got the residual wrong (way too low). In other words, the dealer would be buying your leased vehicle for more than it is worth and then trying to sell it. They'd never do that.
And as I said, most leases provide a less expensive way of terminating the lease early as compared to simply the total of the remaining payments.
So likely, the dealer has found out the current early termination amount from your current lease.
And then they're including THAT amount (probably plus some profit for their troubles) into the purchase price of your new vehicle. So effectively, you're paying some for your existing vehicle as part of your new one.
You can't just look at the "paying $x per month with $x down" as "the deal" because it isn't; it is the sucker's deal. The DEAL is the ENTIRE transaction... the purchase price, options and fees, the term, credit for any trade-in, and the interest rate. THAT'S the deal; the rest is just math. "$x a month" doesn't say anything about whether you're being had on the price of the car, whether they're stuffing extra charges in it, or whether you're getting had on the interest rate.
I'm wondering WHY you'd want to get out of an existing lease early when that basically means you're throwing away money. If you just can't afford that vehicle anymore and are getting into a cheaper one, then that may make sense. Or if you're getting a deal on a new car that you would NOT be able to get later on that justifies the extra cost (I did that once; got a new vehicle with 2 months left on an existing lease because in 2 months, I'd be in a new model year that would cost SIGNIFICANTLY more and would cost far more than the extra two months of lease payments).
Other than that, it just makes really poor financial sense. Even if you WANT a new car, unless the Pilot is just completely unusable for you, your best FINANCIALLY would probably be to WAIT until your lease is either up or close to up before buying a new vehicle.
First of all, I am not upside down on the lease. The buyout is 21K and the blue book value is 25K. So I was basically handing the dealer an additional 4k. Which makes me wonder why they wouldn't do the deal.
If you wait until your lease is up you have to pay wear and tear and excess milage charges. If you can find a dealer to take it off your hands as a trade, your much better off. Besides, if you wait until the lease is up, your in a desperate position to buy a car. I'd rather have the leverage of being able to walk out the door and still have a car. These are a few reasons why I'm not leasing my next car.
I'm looking at buying a 2008GT CX-9, and don't know much about Mazda. What is the relationship between Ford and Mazda? What major parts of the CX-9 are Ford parts? Do you think one could get as much wear out of a CX-9, and as little long term problems as you may with Pilot or Highlander?
I'm looking at 2008GT CX-9 with moonroof and Bose package. Any feedback on quotes or what you paid is greatly appreciated!
I've pretty much agreed with dealer on price and financing for purchase of CX-9 sport at invoice. The only holdback is that I am currently in a lease with 7 months to go on a Pilot. The dealer is trying to put the remaining payments into the purchase price. The buyout on the lease is 21K, the bluebook resale price on the Pilot is 25K. So, it looks like the dealer is trying to get $1800 from me for the remaining 7 months so he can sell my car for a double profit.
Put your truck in the paper and take it to CarMax. If you can get $21k for it, then you get to keep your $1800. I was surprised by what CarMax offered me on my BMW...
I found a dealer offering $28,700 for CX-9 sport w/ power seat and they are willing to take my leased vehicle off my hands. This is pretty much invoice price but does not include the $500 national rebate(which I assume the dealer is keeping for them self.) Pretty good deal?
WHICH Blue Book value? Very few dealers actually are willing to give anything NEAR even the TRADE-IN value at the condition the car is in (i.e., if the car is in "Good" condition, they likely won't give the "good" trade-in value).
If your buyout is $21K, chances are that the dealer isn't giving you anything beyond that and possibly even below that. Think about it... if the buyout on YOUR car is $21K, in most cases, the dealer can negotiate a slightly lower price from the leasing company. On ANY car. So why would they give YOU that or higher when they can just as easily get it elsewhere? They're only going to do it if it is profitable.
Dealers RARELY sell the cars that they take as trades (retail, that is). Most of the time, they'll simply put the car out to auction and some other dealer will buy it. About the only time they'll keep the car and put in the expense of fixing it up and selling it is if it is a very popular vehicle that they can easily sell, is in nearly perfect condition so it doesn't require much expense to put it into saleable condition, and if they got it for a great price and can sell it for a much higher price. So they're not going to be making as much as you might think on your vehicle because they're probably just selling it at auction.
By the way, I looked up the KBB Trade-In values on a 2004 Honda Pilot (I'm assuming that's the year) and it is about $19K on the HIGH side in EXCELLENT condition. Like I said, most dealers aren't going to give you any better than "poor" value no matter what (and on a Pilot, that's about $16K). KBB is just not an accurate indicator of pricing.
You have a point if there's excess wear and tear and excess mileage. You can probably calculate that and see how much it would cost you... it should be in your contract about excess mileage (and you can easily calculate how much mileage you'll expect to have at the end). You can also get an estimate from anyone on any damage to at least get an idea of what it might cost (and there's no law that says you can't FIX any "excess wear and tear" before turning in the car).
Like I said, sometimes there's a financial reason for getting a new car early.
As to leverage on a new vehicle and being able to shop around, how long is that REALLY going to take you? A month? Two? Surely not 7. So maybe you should hang onto your Pilot for another 5 months, have less of an overlap (money thrown out), and still have time to negotiate on a new vehicle and still be able to buy out your current lease to avoid excess mileage.
Thank you warever. Too many consumers make the mistakes of using a NADA guide (which I suspect here) and over-estimating the condition of their vehicle. NADA values are ALWAYS high. Using KBB is usually MUCH more accurate. Thank you for recommending it; and no, I'm not affiliated with them in any way...just a bank officer who has processed about 3,284,602 auto loan applications over the years...
While I agree that NADA always gives the highest trade value, KBB gives the highest retail value, the lowest non-auction trade-in value and the largest spread between the two. KBB is totally slanted in the dealer's favor. Of course, that doesn't stop the shameless thieves from offering you $2k under KBB trade for your spotless cream puff. A dealer will rarely show you KBB, but he knows you're looking at it on your own.
Please don't respond with: "Dealers offer you lower than KBB trade-in because those numbers include all the overallowances dealers make." Even if that's true, it also includes deals signed by all the poor bastards who give their cars away--you know, all those people who can barely write and believe that whatever car they're driving actually is "soft on the market right now". I was in a Honda dealer this weekend looking for another Odyssey and heard a sales manager tell the guy in the next cubicle: "Well you know, the Prius is a little soft on the market now because the tax credit is going away".
Vinnyny - I don't disagree. I think we're making the same point actually. If more consumers would convince themselves that KBB is a much more accurate value of what their trade is worth, there would be less animosity in the negotiation process.
"If more consumers would convince themselves that KBB is a much more accurate value of what their trade is worth, there would be less animosity in the negotiation process"
We'd also have less animosity if car buyers drank six martinis and downed a couple hits of valium before they started negotiating, then KBB would seem to make more sense.
When trading a car, KBB can only be used against you--the same goes for buying a used car. In either case, a dealer showing you KBB to support his price is trying to add false credibility to his low trade offer or high retail price. Consumers should NEVER rely on KBB values or they will lose every time.
I think Edmunds offers the most realistic values on used cars and have bought and sold several cars within $500 of the Edmunds retail/trade/private party values. (I'm not such a big fan of TMV, which tends to be too high).
If you're trying to make the point that KBB is always low, it's a weak argument. For the three cars I've owned within the last year, the KBB trade-in value was lower that Edmunds on only two of them, and then only by 1% and 4%, respectively. On the third car, KBB was higher than Edmunds by 2%.
Is 4% worth fighting for in a car deal? Sure. But my experience says that the "KBB is bad" theory is inconclusive, and that as a rule, KBB is a decent pricing guideline, just as Edmunds is.
I'm looking to make a purchase today on a CX-9 GT AWD. I'm looking to quickly make a transaction (received all Quotes) and getting the car for 200 under invoice. Is it wise to apply for Mazda credit prior to going into the dealership or should I wait? My credit score is excellent from all three companies. Please advise
Thanks for the reply. I do have another car loan approval in place but it's not as good as the 1.9% they are offering for 36 months. The other loan through my CU is around what they are offering for 60 Mterm Fin loan. I have read that sometimes the interest rate spread from what you apply online is diff from what F&I manager will give you. I guess I will go in there and see what happens.
Did anyone recieve the 1.9% financing terms and what FICO score does Mazda look for to get these rates? 725 800?
I was hoping to get some help on what a "good deal" would be for an '08 CX-9 GT with AWD, the Nav package and moonroof package. Mazda calls it "2PA Grand Touring Assistance Package" and "1MC Moonroof and Bose Audio Package"
Put it this way, 39k is not what I'm looking to spend on my next vehicle. I was looking to go 36 tops and preferably 34ish. I'm guessing I'll have to take off the Nav package to get in that range, but am I looking to get the car for about 500 over invoice? TMV is so high it's kind of throwing me. I could use some advice.
Unless you must have a car today, I would wait a few months. All economic indicators are pointing down, so it is possible the environment may be better in a few months. Waiting will also let the SUV of the year hype fade some.
While you are waiting, shop your price around and let the dealers call you if they want to make a deal. Check out the auto mall prices.
Based on recent purchases, I would make the invoice price my goal. If there are rebates then invoice minus the rebates.
The dealers are padding these cars with a number of extra fees, port fee, prep fee, doc fee, ad fee, etc.... next, they will have a test drive fee (just kidding).
I dont have unlimited time but I'm not exactly in a rush either. I've still got to look at the Highlander too and possibly a Ford Escape. I'm ok with 500 over invoice if it will get the deal done before the bad weather gets here in force. I'm gonna ignore the TMV I think.
Anyway I had my test drive yesterday, convinced us we wanted the CX-9 over the CX-7. Had the dealer "work up some numbers" just to get an initial feel for them. I was amused when the finance guy came back with "450 per month" for 60 months including our trade in which I know to be worth about 11k. I asked what the price of the car was and he said "i dont know". Seriously
Anyway I left it there because I wasnt going to make a deal then, but thought I'd share that little story.
$450 per month for 60 months is $27,000 plus your trade, which you say is worth $11,000. You will lay out $38,000 for this vehicle. Subract from that $300 for title, plates, etc. (I'm using figures for my area, yours could be different) and you're left with $37,700. Divide by 1.07 to account for an average sales tax percentage (7%) and you're left with $35,234.
If the invoice on this vehicle as equipped is $36,300, you're at about $1066 UNDER invoice for a damn fine vehicle, but we're not done yet!
Consider that the finance guy probably didn't quote you a deal at 0% APR, so let's assume a reasonable rate for that term -- say 5.9%. The $450 per month for 60 months at 5.9% will let us figure an "amount financed" of $23,332.
So in the end, the sales price is $23,332 plus your $11,000 trade for a total of $34,332.....$1968 UNDER INVOICE!
Please provide the name of this dealer, because if they're making deals like that, I'll buy 10 of 'em!
By my calculations if the car was priced at $36,300 (invoice) and Dash5 traded in his vehicle valued at $11,000 , the $450 payment would be based on financing about $27,000 (includes estimates for TTL) at 0.0% financing. That sounds like a good deal if it's the car he wants. The comment form the finance mgr was dumb, though. We seem to be doing a better job of "selling" the car than he did if his numbers are correct and it's a sale not a lease.
Comments
Maybe by then there will be a rebate, so you can purchase a car below invoice. (Watch out for hidden fees: ad fee, doc fee, port fee, etc.....)
$36720 Invoice
Minus $500 S plan discount
$36220 price for car
$2203 sales tax (pre $500 discount calculated)
$40 license and title
No doc fees (they wanted to charge $199)
No ad or regional fees
I used the 1.9% financing over 36 months - I can earn 5% (3.5% after taxes) in a money market fund, so it made no sense to pay cash.
ML
Has anybody obtained a good price on a vehicle (any color) with these options?
Here in West Palm Beach Florida is difficult to find an AWD which is useful here in the rainy season.
Towing package is also difficult to find here but not in midtown Manhattan Mazda inventories.
The “combo” Remote entry start, something not needed in this climate and many Florida dealer inventories are full of CX-9 with it.
Sirius Satellite is Radio is another dubious “combo” since this may impair the operation of your iPod.
The wheel locks “combo” can be bought in the Mazda dealer parts store or in the Internet at a lower price but many 2008 CX-9 have it.
The roof rails look nice but I do not know if the will create much turbulence of air flow to increase road noise, besides they can only hold 100 pounds.
White (E)/Black (I) is difficult to find everywhere in the U.S., painting a car white pearl is not more expensive than any other metallic paint but they charge $200 for it, go figure.
Good purchase!
07 CX-9 $0 under invoice. At invoice.
08 CX-9 $500 under invoice. (New Post)
Keep posting those good deals.
I think many would find it useful to cool the car off before you get in it...
"White (E)/Black (I) is difficult to find everywhere in the U.S., painting a car white pearl is not more expensive than any other metallic paint but they charge $200 for it, go figure. "
Most car companies charge more for pearl paint. What makes you think it's not more expensive for that type of paint?
BMW charges more for their metallic colors, but most other companies do not.
Remote entry start is marketed mostly for winter/snow season locations.
BMW charges more for their metallic colors, but most other companies do not. ""
If you don't think it is worth the $200, just choose another color. I have seen premium color charges at more than BMW. Toyota charges $220 for their white Pearl on some cars. Saab has 3 times as many premium colors as basic ($550 each). Like you said, supply and demand rules
Remote entry start is marketed mostly for winter/snow season locations. "
It doesn't have a use when the temparature is in the 90's and up half the year? I'd personally rather get in a freezing car than a boiling hot one.
2008 AWD Touring CX-9
Touring/assist package (navigation with backup camera)
Moonroof/Bose sound
Roof rails
autodim mirror
all weather mats
Stormy Blue w/ sand interior
Total before taxes/tags $35,298. According to Edmunds and consumer reports pricing, this is $100 over dealer invoice and MSRP is $38,437. Went to Heritage Mazda in Baltimore, they were easy to work with and reasonable. Hope this helps anyone who is negotiating.
Obviously, if the financing was $488 at 2% over invoice,and I'm trying to get the payments lowered to 400 per month, its a good deal. (invoice at that rate would be $424 a month.) Either way, the sticking point is the dealer wants to build the term left on my lease into the cost. I need to know if this is a real cost to him.
The other thing is that most people think that when you sign a lease, you're going to owe 100% of the payments, no matter what. This is rarely the case; MOST leases have an early termination clause. It can vary, but typically, you have to pay the difference between what you've already paid for in terms of depreciation versus what the vehicle is really worth plus a penalty which can be anywhere from a couple hundred bucks on up to maybe a grand.
Remember, with a lease, you're basically paying off the depreciation between what your car was worth when brand new and whatever they estimated it to be worth at the end of the lease (your residual) plus what amounts to interest (they DO have to make money on the financing, of course).
Now, if you've got a 3 year lease and it is now only 2-1/2 years into it, your car is probably worth somewhat more than what your residual is. So they basically look at what your car is worth now (compared to the residual) and how much you've already paid against it and then charge you the difference. So if your residual is $10,000, the car is now worth $12,000, it was $20,000 when new, and you've already paid off $7,000, in most cases, you basically have to pay off the difference between $13,000 ($20,000 new minus $7,000 paid off so far = $13,000) and what it is worth now ($12,000) so you'd have to pay $1,000 plus whatever early termination penalties there are (maybe $500). Then you can return the car and that's that.
That's a bit of an oversimplification (because it goes by the current buyout and not exactly "what it is worth") but gives the basic idea.
Another option of most leases is an early buyout. Sometimes, there's a penalty, sometimes there isn't. Basically, you can usually buy out your lease at any time and then own the car. You can either keep it or sell it and if it is truly worth more than the buyout amount, you can make a profit.
Chances that the dealer is going to do that are slim to none because the buyout is likely going to be more than the car is worth unless they REALLY got the residual wrong (way too low). In other words, the dealer would be buying your leased vehicle for more than it is worth and then trying to sell it. They'd never do that.
And as I said, most leases provide a less expensive way of terminating the lease early as compared to simply the total of the remaining payments.
So likely, the dealer has found out the current early termination amount from your current lease.
And then they're including THAT amount (probably plus some profit for their troubles) into the purchase price of your new vehicle. So effectively, you're paying some for your existing vehicle as part of your new one.
You can't just look at the "paying $x per month with $x down" as "the deal" because it isn't; it is the sucker's deal. The DEAL is the ENTIRE transaction... the purchase price, options and fees, the term, credit for any trade-in, and the interest rate. THAT'S the deal; the rest is just math. "$x a month" doesn't say anything about whether you're being had on the price of the car, whether they're stuffing extra charges in it, or whether you're getting had on the interest rate.
I'm wondering WHY you'd want to get out of an existing lease early when that basically means you're throwing away money. If you just can't afford that vehicle anymore and are getting into a cheaper one, then that may make sense. Or if you're getting a deal on a new car that you would NOT be able to get later on that justifies the extra cost (I did that once; got a new vehicle with 2 months left on an existing lease because in 2 months, I'd be in a new model year that would cost SIGNIFICANTLY more and would cost far more than the extra two months of lease payments).
Other than that, it just makes really poor financial sense. Even if you WANT a new car, unless the Pilot is just completely unusable for you, your best FINANCIALLY would probably be to WAIT until your lease is either up or close to up before buying a new vehicle.
If you wait until your lease is up you have to pay wear and tear and excess milage charges. If you can find a dealer to take it off your hands as a trade, your much better off. Besides, if you wait until the lease is up, your in a desperate position to buy a car. I'd rather have the leverage of being able to walk out the door and still have a car. These are a few reasons why I'm not leasing my next car.
07 CX-9 $0 under invoice. At invoice.
08 CX-9 $500 under invoice.
Includes rebates.
Keep posting those good deals.
I'm looking at 2008GT CX-9 with moonroof and Bose package. Any feedback on quotes or what you paid is greatly appreciated!
Thank you!
If your buyout is $21K, chances are that the dealer isn't giving you anything beyond that and possibly even below that. Think about it... if the buyout on YOUR car is $21K, in most cases, the dealer can negotiate a slightly lower price from the leasing company. On ANY car. So why would they give YOU that or higher when they can just as easily get it elsewhere? They're only going to do it if it is profitable.
Dealers RARELY sell the cars that they take as trades (retail, that is). Most of the time, they'll simply put the car out to auction and some other dealer will buy it. About the only time they'll keep the car and put in the expense of fixing it up and selling it is if it is a very popular vehicle that they can easily sell, is in nearly perfect condition so it doesn't require much expense to put it into saleable condition, and if they got it for a great price and can sell it for a much higher price. So they're not going to be making as much as you might think on your vehicle because they're probably just selling it at auction.
By the way, I looked up the KBB Trade-In values on a 2004 Honda Pilot (I'm assuming that's the year) and it is about $19K on the HIGH side in EXCELLENT condition. Like I said, most dealers aren't going to give you any better than "poor" value no matter what (and on a Pilot, that's about $16K). KBB is just not an accurate indicator of pricing.
You have a point if there's excess wear and tear and excess mileage. You can probably calculate that and see how much it would cost you... it should be in your contract about excess mileage (and you can easily calculate how much mileage you'll expect to have at the end). You can also get an estimate from anyone on any damage to at least get an idea of what it might cost (and there's no law that says you can't FIX any "excess wear and tear" before turning in the car).
Like I said, sometimes there's a financial reason for getting a new car early.
As to leverage on a new vehicle and being able to shop around, how long is that REALLY going to take you? A month? Two? Surely not 7. So maybe you should hang onto your Pilot for another 5 months, have less of an overlap (money thrown out), and still have time to negotiate on a new vehicle and still be able to buy out your current lease to avoid excess mileage.
Anyway, I ended up with a deal of $28,500.oo for the Sport AWD AND dealer taking over my lease.
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Please don't respond with: "Dealers offer you lower than KBB trade-in because those numbers include all the overallowances dealers make." Even if that's true, it also includes deals signed by all the poor bastards who give their cars away--you know, all those people who can barely write and believe that whatever car they're driving actually is "soft on the market right now". I was in a Honda dealer this weekend looking for another Odyssey and heard a sales manager tell the guy in the next cubicle: "Well you know, the Prius is a little soft on the market now because the tax credit is going away".
We'd also have less animosity if car buyers drank six martinis and downed a couple hits of valium before they started negotiating, then KBB would seem to make more sense.
When trading a car, KBB can only be used against you--the same goes for buying a used car. In either case, a dealer showing you KBB to support his price is trying to add false credibility to his low trade offer or high retail price. Consumers should NEVER rely on KBB values or they will lose every time.
I think Edmunds offers the most realistic values on used cars and have bought and sold several cars within $500 of the Edmunds retail/trade/private party values. (I'm not such a big fan of TMV, which tends to be too high).
Is 4% worth fighting for in a car deal? Sure. But my experience says that the "KBB is bad" theory is inconclusive, and that as a rule, KBB is a decent pricing guideline, just as Edmunds is.
-c92
07 CX-9 $0 under invoice. At invoice.
08 CX-9 $500 under invoice.
Includes rebates.
Surely, someone can beat these numbers, they are not overly impressive.
Keep posting those good deals.
Thank you
Did anyone recieve the 1.9% financing terms and what FICO score does Mazda look for to get these rates? 725 800?
Thanks
Edmunds gives me: MSRP:$39,510 Invoice:$36,300 TMV: $39,060
Put it this way, 39k is not what I'm looking to spend on my next vehicle. I was looking to go 36 tops and preferably 34ish. I'm guessing I'll have to take off the Nav package to get in that range, but am I looking to get the car for about 500 over invoice? TMV is so high it's kind of throwing me. I could use some advice.
Unless you must have a car today, I would wait a few months. All economic indicators are pointing down, so it is possible the environment may be better in a few months. Waiting will also let the SUV of the year hype fade some.
While you are waiting, shop your price around and let the dealers call you if they want to make a deal. Check out the auto mall prices.
Based on recent purchases, I would make the invoice price my goal. If there are rebates then invoice minus the rebates.
The dealers are padding these cars with a number of extra fees, port fee, prep fee, doc fee, ad fee, etc.... next, they will have a test drive fee (just kidding).
Let time work for you and not the dealer.
Good Luck and keep us informed.
I dont have unlimited time but I'm not exactly in a rush either. I've still got to look at the Highlander too and possibly a Ford Escape. I'm ok with 500 over invoice if it will get the deal done before the bad weather gets here in force. I'm gonna ignore the TMV I think.
Anyway I had my test drive yesterday, convinced us we wanted the CX-9 over the CX-7. Had the dealer "work up some numbers" just to get an initial feel for them. I was amused when the finance guy came back with "450 per month" for 60 months including our trade in which I know to be worth about 11k. I asked what the price of the car was and he said "i dont know". Seriously
Anyway I left it there because I wasnt going to make a deal then, but thought I'd share that little story.
Follow me on this.
$450 per month for 60 months is $27,000 plus your trade, which you say is worth $11,000. You will lay out $38,000 for this vehicle. Subract from that $300 for title, plates, etc. (I'm using figures for my area, yours could be different) and you're left with $37,700. Divide by 1.07 to account for an average sales tax percentage (7%) and you're left with $35,234.
If the invoice on this vehicle as equipped is $36,300, you're at about $1066 UNDER invoice for a damn fine vehicle, but we're not done yet!
Consider that the finance guy probably didn't quote you a deal at 0% APR, so let's assume a reasonable rate for that term -- say 5.9%. The $450 per month for 60 months at 5.9% will let us figure an "amount financed" of $23,332.
So in the end, the sales price is $23,332 plus your $11,000 trade for a total of $34,332.....$1968 UNDER INVOICE!
Please provide the name of this dealer, because if they're making deals like that, I'll buy 10 of 'em!
Total cap cost 34,852
money factor for nov. .00132
36 months @ 15,000 miles
monthly payment 528.39 including gap insurance, and 0 down at closing.
CX9 Grand Touring AWD
MSRP INVOICE
Base 34655 32041
Moonroof Package 1760 1514
Blind Spot Monitor 200 172
Backup Camera 665 530
Destination Charge 595 595
Total 37875 34852
Thank you for any feedback!
2008 CX-9 Grand Touring AWD $35,250
GT Assist package 2,500
Towing Package 525
Moonroof/bose 1,760
Cargo net 40
Roof Rails 250
Wheel locks 50
MSRP $40,375
I paid Invoice at $37,024
No extras, Just tax and Lic.
I thought it was a fair deal so I went for it. I also got there 1.9% for 36 month.
Tom