Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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The site is MPVClub, there is a DIY section there.
HTH,
-Brian
That's an easy one--the bumper-to-bumper warranty on '03 MPVs is indeed 4 years or 50,000 miles.
Thanks for the info.
That is a very significant reason as to why I am now leaning very hard towards leasing the MPV over the other currently popular minivans.
In fact, I may do the deal today, if the dealer doesn't pull any last second funny business.
Quick question -- has anyone had the Madza authorized, but aftermarket cassette player added to their vehicle's? I'm considering doing this, but just wanted to see if anyone has any experience with this.
Thanks to any and all answers in advance!
Tired, Lazy and going to bed!
Lsinc ;o)
Where did you find the key that you had programmed? I'm always on the lookout for a good vendor for that item.
The wireless headphones are cool - you stick your head inside and they work, stick your head outside the van and POOF, the sound just cuts off. It's always funny to be going down the interstate, and someone is one lane over in your blindspot just to watch the movie you're watching.
What are the Hann rates and residuals??
NY and CT still have viacarious liablility on leases for a few months...so most non manufacturer lease sources are charging big bank fees to offset the absurd vicarious liability lawsuits.
If your not familiar with vicarious liability, the lease company is on the legal hook for anything you do wrong....example, if you run into a school bus and kill somebody it's the lease companies fault, since they have the deep pockets.....only a lawyer could come up with such a goofy law....Chase manhattan recently lost a $41 million dollar lawsuit in Rhode Island because a lease customer killed somebody. All chase did was lease the guy a car.
I am ready to make a deal right now. I actually have what appears to be a pretty good offer for an MPV, but would just like to confirm that.
It is for a top-of-the-line ES model. Loaded with options – RES, Power sliding doors, In-Dash 6-Disc CD Changer, and 4 seasons package. The purchase price listed on my just received faxed “worksheet” (doing everything “by the book” here ;-) is $25,742.00
So that does appear to be considerably under MSRP (when you consider the optional add ons)
Here are the down and dirty numbers:
48 month lease
10,000 per year mile allotment (for a total of 40,000)
Money Factor of .002300 from Hann Auto Trust
Residual: 39%
Hann will waive my prior $450.00 disposition fee for taking new deal with them, but the new Bank Fee is $895.00
8.5% Long Island sales taxes are $1,841.51
Total Cap Cost (rolling the bank fee and taxes in) is $28,478.51
for a monthly payment of $442.68
Only the first month due at signing (no security deposit needed).
Does this sound like a good deal?
As I am very ready to do this, any timely advice or comments would be most appreciated.
audia8q - you mentioned "dealer cash" for non-mazda leases - do you know where I could look to find what this is? Or, do you know it and can tell me?
thanks.
Dave
Yaaahhaahhh, it does !! The MSRP is coming at $27,620, invoice at $25,153 *after* factoring in the $2000 rebate. So you are getting the vehicle for $600 over invoice :-) WoW! Considering that similarly equipped MVs would top out at $30K+ !!
rutger3 - yes, ultimately the payment *does* seem a bit high for a 4 year lease. But understand that I am rolling the taxes into the payment from the start - as opposed to paying them upfront (like you would with a purchase). So in essence, I am "financing" the taxes as well.
I walk out of the dealership having only to put down my first month and of course the DMV fees.
The bank fee is a killer, I know - but Car Man over on the lease board says that some of them are up to $1,000.00 now. Three years ago I paid a bank fee of $595. So it looks like it's gone up a $100 per year.
Thanks for doing your calculations for me, however. I will definitely check your numbers against mine (yet one more time). Remember my overall cost includes the purchase price, bank fee and taxes. I did the math and it does add up to the cap cost of $28,478.51
Selling price: 25,742.00
Bank fee: $895.00
8.5% NY (LI)Taxes: $1,841.51
(yeah, we get killed on taxes here - "thanks" politicians)
I don't want to purchase. I want to have a guarantee that someone will take this car back - no questions asked - in 3 or 4 years (depending on my lease length)
I don't want to wait until the end of the Q. I need the car now.
As for being "happy" with the payment - who knows? I certainly can afford it. I just don't want to get burned.
But it seems my excruciating research certainly has me in the ball park.
Thanks for all the advice so far.
If you are basing it on the Mazda American Credit factor of .00165 (roughly 4%) - that is for a 36 months lease. The factor/interest rate goes up for a longer lease (the 48 month).
The money factor/interest rate given me is .00230
(multiply by 2400 to get the corresponding interest rate) = roughly 5.5%
I think that is where we are seeing a difference.
Isn't this fun? ;-)
The monthly payment for our $24,516 (sale price) LX is $547 (I think) and we'll OWN it after 4 years of payments.
Don't get me wrong, I LOVE leasing, and (for my car) I'll never buy again. But that lease deal seems way too high.
Also - was your lease subsidized by Acura? Was there a bank fee? When did you do the deal? sounds like you've had it for a while. Are you at least 1 year into it?
Also - I will have 7 passenger seating and major hauling capacity. Can you do that in your Acura?
It's all about need and ability to provide for that.
javadoc Aug 21, 2001 6:52pm
Or did everything change in '02?
Steve, Host
When I purchased my 2003 Honda they gave me three keys, two for myself and one was called a valet key all three had chips and the car wouldn't start without them.
VA sales tax on cars is 3%. The acq fee (bank fee) on my lease was $495 if I remember correctly. I've had the car a little over a year.
I think the bank fee is way too high, and the ending monthly payment high. Just my $.02
I was merely commenting on the superiority of the mininvan ;-)
Anyway, I agree with you that the "bank fee" is outrageous. But that is set in stone and I can't negotiate it away. However, since I am going back to the same bank - I *am* getting the $450.00 dispostion fee I would have had to pay to turn in my previously leased vehicle - waived. That effectively reduces the "bank fee" to $445.00
Furthermore, my previously leased vehicle was due to be returned this Saturday (the 21st) and if I didn't have a new vehicle in place - I would have to rent one. Further adding to my overall costs (car rentals aren't free, unfortunately).
Again, the Mazda dealer, who already has a relationship with this bank, can get me a week's extension on the return date, hence saving me costs on car rentals.
Finally - yes, I agree that my 8.5% sales tax is much worse than your 3%. That is ultimately what is forcing up my payment.
However, I take home a new, fully loaded ES with RES for only $442.00 (and DMV fees).
I will be living with it for a whole year and have only paid $5,304.
After 2 years $10,608.
3 = 15,912
etc, etc.
Let's face, it after 4 years, this vehicle isn't going to be worth all that much anyway, and I'll be ready for the *new* thing.
It's all about what you need/want and what you can afford.
Thanks for the advice, however.
Hard to believe a full flush for only $55.What is the deal with these full trans flushes anyway? It sounds better,if the cost is th same.
Interest rate is what it is. Higher for longer lease. Just like a loan.
That was a long time ago! I may even have a webpage up about that on my home server, but I've been too busy to check. AFAIK, the procedure didn't change, but I'd have to get off my keister and check. Or is that kiester. 'I before E...'
Steve, Host
So don't allow the fuel tank be empty which will cost you hundreds of dollars to fix it! Usually refill you gas tank when the it's about 1/4 to 1/8 full, it will be better for the fuel injector! I will say the mileage is around 280 to 320 miles for each fill up depends on the mix of city and highway driving!
93 on my back deck tonight... in the sun, so that's cheating, but hot nonetheless.
19hrs 19mins of daylight, and 24hrs 00mins of visible daylight, according to Wunderground... as I type at 11pm and the sun is far from down.
<Content> And Mochavan is in the bodyshop having some minor damage repaired. DW already misses it.
Sun and 100 degrees??? Where? It's rainy and 60 here. Gotta love New England!
My MPV still is going strong and I finally gave it a bath. I washed it on Tuesday which was a beautiful sunny day. It rained on Wednesday. I learned my lesson! =o P
Oh and if anyone is planning a trip to Southern New England for it's beauty, charm and warm weather, forget it! We may never have Summer here. =o (
Leslie
I never had to take it out of overdrive. Across the rolling hills and hairpin curves of miserable I-44/Mo it was fantastic.. Driveability through miserable St. Louie was excellent. The cruise rolled over the hills like they weren't there. The MPV cruise is the best I have ever seen. We were trapped in a cloudburst in northern I-39 Ill. The heavy duty wipers did the job. The road handling in the rain with the Dunlops was as good as you could ask for. The brakes were fantistic. Smooth stops on a dime... No truck ever passed me! Never maxed the engine. Tons of power to spare.... The 4 seasons air system was perfect. The car was totally cool and confortable in hot muggy midwest... Engine tempt never got off normal... I discovered a neat thing about the overdrive that I will cover later. If anybody plans on some serious traveling this is the car.... Smooth ride, I had it packed full and the ride never bottomed and tons of power... The tranny shifted smooth as butter.... I will cover the trip up I-17 from Phoenix to Flagstaff in another post... The MPV romped up and down the 6000 foot hills easily..
Lov our PEEVEE
Tj...
I went ahead and did the deal. I will now be a "PeeVee" member. ;-)
Happy to join the fellowship.
Silver 2003 ES w/power doors, 4 seasons, 6-CD changer, roof rack, auto-dimming mirror w/temp & compass, and bumper step plate. A salesman/dealer experience that has restored my faith in buying new cars (no pressure, below-invoice price w/no hassle, no mention of the $700 package of dealer "upgrades" like fabric/rust/paint protection, etc.). A chance to see an odometer that read "5." And on top of that a minivan that is more functional and more fun to drive than I imagined was possible when I started looking at minivans.
With respect to the fuel gauge: my salesman pointed out that, with the roadside assistance that's included in the warranty, you need never pay for gas again (or at least until the end of the warranty)...though you might end up waiting a lot.
"Zoom Zoom" ;-)
I am looking at something very similar and I imagine you must have got the MPV near 24K + TTL.
Could you let me know why you prefered leather over cloth i.e. ES over LX :-)
As the risk of chafing moderators forum-wide, I will re-post what is already here in this topic:
It is for a top-of-the-line ES model. Loaded with options – RES, Power sliding doors, In-Dash 6-Disc CD Changer, and 4 seasons package. The purchase price listed on my just received faxed “worksheet” (doing everything “by the book” here ;-) is $25,742.00
So that does appear to be considerably under MSRP (when you consider the optional add ons)
Here are the down and dirty numbers:
48 month lease
10,000 per year mile allotment (for a total of 40,000)
Money Factor of .002300 from Hann Auto Trust
Residual: 39%
Hann will waive my prior $450.00 disposition fee for taking new deal with them, but the new Bank Fee is $895.00
8.5% Long Island sales taxes are $1,841.51
Total Cap Cost (rolling the bank fee and taxes in) is $28,478.51
for a monthly payment of $442.68
Only the first month due at signing (no security deposit needed).
The sales experience has been pleasant enough. The salesman (sales manager, actually) is slick and savvy, but also sharp enough to recognize I did my homework. He didn't BS me (well, not too much). Overall I'd say he's giving me what I want.
As for "choosing leather over cloth" - I wanted an ES with RES and there is no choice. It only comes that way. But - isn't it the higher-on-the-foodchain level, anyway?
ES in general gives you more "luxury" items as standard features. Yes, I know a lot of people here have configured their LX's that way - and to that I say well done and more power to them.
I'm just happy to be a fellow "zoom zoomer".
I pick the van up in a week.
What dealership??? We do alot of swaps with dealers in your area, I'm just curious.
Rich
I think my good experience and the price both had something to do with the fact that I bought the MPV at the end of May and my purchase allowed the dealership to qualify for a bonus. Even so, there was no pressure to buy soon, but when I did decide to offer $26,400 (before deducting the rebate), the salesman said "okay." No dickering, no need to walk out of the dealership to demonstrate my resolve, not even any "let me take it to the manager and see what I can do." And rather than seeking my specs on a car at another dealer (and incurring an additional delivery charge) or the factory (with multi-month wait), the salesman took it upon himself to find a van with my specs at the port and have it assigned to his dealership. When it didn't arrive on the projected date (no fault of the dealership), before I ever exhibited any impatience, the salesman and dealer had already worked it up and back down the Mazda hierarchy and produced results, and it was delivered the next day. The cars on the lot had stickers with a package of fabric protecter, pinstriping, etc., for $700, and I was anticipating a struggle over this (though I figured I'd be in a strong position since the car was coming in from the port), but they never even mentioned it. They did try to stick me for about $150 of "administration" charges for getting the tag, but I offered to get it myself and they scratched the fee.
I originally had my eye on a loaded LX, but based on what I read on this site and elsewhere, I really wanted the power doors. And when I learned I couldn't have the power doors with the all-sport package (why?) I decided to upgrade. I wanted the leather anyway, since I may have to carry customers in it from time to time, and my wife wanted the leather even more, since she was unimpressed by the cloth, so I used those reasons to rationalize the decision.
I still, think, though, that if you don't have to have the leather, and if you don't need the power doors in combination with, say, the 9-speaker stereo and/or the 17-inch wheels, then a loaded LX has got to be the best value available on a new minivan.