Toronto P5 Pricing Help

[HADA 11]

Hey guys,
Could someone from the GTA leasing a P5 give me a heads up on lease payments?

I'm looking at picking up a 2003 P5 5-Speed with air. What should my monthly payments be? I was at a dealer today, signed on a car, but I don't feel too confident with the deal.

I'm giving them $1500 to cover frieght, PDI and all that crap. They're asking just over $380 a month tax-in over 48 months.

If this is high, where should it be? I don't expect you to disclose your payments, just give me a range.

Thanks in advance.

 

[frankd53]

How about you go to www.mazda.ca and select the P5 and "Price Your Own" to work up numbers based on your situation.

 

[HADA 11]

Thanks Frankd53. I'd checked out the mazda.ca site, and cars4u.com and they both seem to leave a bit out of the deal so it's hard to compare apples to apples.

I think I'm going to call the dealership to cancel the deal on Monday. I need do a bit more homework on this thing.

 

[sjdmp5]

I'm leasing a 2002 P5 with air & moonroof, I'm paying $439 taxes in, no trade, nothing down. Everything I read says never put any money down with a lease. It doesn't lower your payment that much. I would keep the $1500 for some mods.

 

[HADA 11]

Thanks!
I'm not really putting $1500 down. The $1500 consists of first, last, PDI, and all those other taxes.

Mods? Doubt it. This is the wifes car. She's finally getting rid of her A4 Jetta. Man that thing was/is a total piece of s****. NEVER buy a VW. Ever since they started building the cars in Mexico they suck.

I'm a Honda guy myself but the MP5 is great in terms of value, performance, style and function. The Civic SIR can eat my balls. They don't make crack potent enough to get me to spend $25k on a Civic.

I probably sneak the P5 out to a few autox's so I might keep some R compounds lying around but that's it.

Thanks again.

 

[bmorton]

I'm paying $380 including tax for three years for a five-speed P5 with air, sunroof and tape deck. I paid $2000 on delivery, about $800 of which was a down payment. Don't forget to negotiate the price of the car on which the lease is based (the cap cost) first.

By the way, sorry to hear about your experience with the Jetta. I had a Mexico-built '00 VR6 and it was a solid, well-built car. Never had a single problem and I'd be driving a VW now if they sold a package as good as the P5. Too bad VW's quality control isn't a little more even.

 

[NewP5owner]

I'm in Mississauga and I suggest you look into financing. Interest rates are pretty good right now. I did a trade in for $4200 and I financed my 2003 P5 over four years for $475 a month. I also got a $600 graduate rebate cheque from Mazda Canada in the mail. It's nice to actually own the car instead of putting all that money into it just to give it back after four years. In my opinion, leasing is a big ripoff. Keep in mind that car companies make more money off leased vehicals than they do off of sales.

 

[hawkwind101]

I bought my 2002 P5 in August and with no money down, extended warranty and rust proofing I pay $465 a month for 5 years. I believe the interest rate was 3.4%. I purchased it a Toronto Mazda.

 

[HADA 11]

Thanks for the contributions guys.
bmorton, I'm curious about the residual value on you lease. Could you let me in on that part of your deal?

If you'd rather not post it here you could you shoot me an email> c_theo@sympatico.ca. If you'd rather not disclose it at all I understand.

 

[bmorton]

I don't mind posting it, it's not confidential information. I don't have the exact figure memorized but it's around $13,250 after 36 months. I'll look at the contract a little later today and e-mail you the exact details of how mine worked out.

 

[audiohs]

I'm in Ottawa but we're picking up our 03 P5 w/ air and moonroof on Friday. Our lease is for 4 years, 80k kms and comes to $330/month taxes in. That was with grad rebate ($600) and trade-in of $1,750. Also, I'm not paying for anything up front (i.e freight, pdi, 1st month, security, etc.). I imagine that you could do better in Toronto.

 

[HADA 11]

Thanks guys!

I just re-negotiated the deal and I'll be financing the over the next 4 years.

I was uncomfortable with the lease I negotiated and it turns out it was for good reason. For an extra $130/month over the original lease agreement I'll own the car. I'm saving thousands in intrest alone.

Whew than was close. I was actually losing sleep. Time for a nap now.