Mazda USA is forcing me to go back to the dealer I leased the car from and coordinate with them the purchase of my lease. MazUSA will not negotiate over the phone - I have tried a couple of different times. So I did visit my purchasing dealer. Indicated I am interested in purchasing my car at a reduced amount (vs. my lease buyout). They did not even blink. They gave me some song and dance about having a certain person review the lease/buyout and they would get back to me.
I have not heard back from them.
I think they want the car back so they can sit it on their lot. Which ABSOLUTELY defies logic at this time in our economy. Three months ago I wanted to get out of my lease early for another (non-Mazda) vehicle. The same dealership family would not even give me my BUYOUT on a trade - saying that the car is not trading for crap at the auction. They encouraged me to stay in my lease until the end, then just give it back. I am happy I did not trade out - simply because of gas prices and what I was looking at moving into.
Back to my statement about taking back an off-lease two year old car. These cars did not sell for s*** when they were new - and now they want them all back? Why, because they think they are limited edition?????? If I were a stealership right now, I doubt I would want any more pre-owned cars coming onto my lots.
I guess I do not get it - and I guess that is why I am not in the auto sales industry.
Oh Well. Country First. Save your money everybody - we are probably going to need it.
M
Before everyone open their mouth about the dealership: please understand how the process works. If you finance a vehicle you agree to borrow the bank money to purchase the vehicle, you inturn will have to pay the bank X amount for X amount of time after that period you own the vehicle, now if you lease the vehicle you only pay for a portion of the vehicle based on the residual value, so if the vehicle was 20,000 and the residual value was 60% then after the time period specified in the lease you would have paid the bank for 40% of the vehicle. Basically your renting the car from the bank. That's why on a lease you must have 100/300/50 insurance.
Remember from the time you drive off the lot your business with the dealership is done in regards to the sales and finance part of the business, you now owe the bank (not the dealership), you will make all your payments to the BANK not the dealership.
Now you owe the bank, your lease is up and you go to the dealership and say I want to purchase my lease, the sales guy will now call the bank and get a lease purchase quote from the bank, which is non negotiable because you already agree from the day you leased the vehicle to purchase the vehicle for that amount at the end of the lease if you choose to do so, the only thing the dealership will do is add the tax,tag and fees and based on your credit they will give you the payment including the interest rate.
The reason the buyout option is high is because you got a really low monthly payment on the lease,the higher the residual the lower the payment (good lease), the lower the residual the higher the payment (bad lease). In most case it's better not to purchase the lease. Even the dealerships do not buy the lease vehicle from the bank because the banks want too much for the cars. Even at the dealership the bank owns the inventory, they borrow the money from the bank at a special rate to purchase the inventory, it's call a floor plan.
I am sick of people who blaspheme dealerships when they do not understand how things work and what they signed, and thank god some people are not working in the dealership.
