Anyone here lease?

[Gerbonium]

Im thinking of getting an MS3 for a 2 year lease and just wondering what types of rates i can expect. thanks

 

[imac]

most places wont lease an MS3, so i doubt you'll find much help here. sorry.

 

[FrequentFlyer]

Go to leasecompare.com and see if you can lease from them. Much better rates than Mazda and you don't have to deal with car dealers trying to sneak in fees and higher rates. I don't see any reason why a dealer wouldn't lease an MS3. They're not getting any less money for it than if you bought it cash. The leasing company buys the car from the dealer at whatever price you agreed to buy it at and then you make payments to the leasing company. At the end, you give it back or you can buy it out. If you give it back, the leasing company owns the car and do whatever they do with used vehicles.

EDIT: Looks like $595 a month, no money down, for a GT at $23,500, 24 month lease, 12k a year with a money factor of .00415. You're going to get screwed on a 2 year lease because that's where most of your depreciation is. I'd go with a 3 year lease. The payment will go down to $401 a month with no money down.

 

[Va6li]

Got a 3 year lease.

At 14%, I am paying $425.

The leasing was made through Mazda American Credit.

 

[FrequentFlyer]

Got a 3 year lease.

At 14%, I am paying $425.

The leasing was made through Mazda American Credit.

Wow, 14% is a bad rate! I think MAC tries to make leasing unattractive. My parents were going to lease a Miata through them and it was going to be over $500 a month for a 4 year lease on a $26,000 car. Ridiculous. I leased a 2004 Honda S2000 with no money down, for 48 months, 15k miles a year for $425 a month with tax and it was a $34k car. So they went to leasecompare.com and got a third party leasing company. It was actually quite painless and their lease is over $100 cheaper than what Mazda American Credit wanted for the Miata. Miata's don't have good resale value though. It's something like 45% after 4 years for a 48k mile lease. My S2000 was 52% with 60k miles.

To convert money factor to a percentage we all understand, multiply by 2400. So an MF of .00415 is 9.96% and .00275 is 6.6%. Interest rates on leases will always be higher than financing, just because the leasing company has to deal with the car after termination and may take a loss.

 

[99ProtegeKV]

and when u have a lease u gotta keep everything stock.. correct? cause i want to lease a mazda3 wagon but i dont want to have to keep it stock, cause theres no fun in that.

 

[Super Unique]

and when u have a lease u gotta keep everything stock.. correct? cause i want to lease a mazda3 wagon but i dont want to have to keep it stock, cause theres no fun in that.

You just answered your own question there. If you were only interested in minor mods that would be easy to return to stock condition when finished with the car go for the lease. If you plan on many mods to the car then definitely do not lease. Usually I don't recommend leasing unless it's a person who will run it and dump it with no changes at all. even then it can be a bad decision financially, especially if you go over the mileage.