Automotive

Locked: Mazda 3 lease expiring. Need help negotiating new lease

  • Last Updated:
  • Dec 21st, 2017 3:22 pm
[OP]
Newbie
Feb 22, 2017
92 posts
14 upvotes

Mazda 3 lease expiring. Need help negotiating new lease

Hey guys, my 14 Mazda 3 GS lease is expiring and I was paying $320/monthly 48 months 0 down with 20k

I am looking at the 2018 Mazda 3 GS. What will be a good price? I have seen people pay around $265/monthly with the convenience package.

I
Last edited by mtmp4k on Dec 20th, 2017 3:07 pm, edited 3 times in total.
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Deal Fanatic
Feb 17, 2007
5523 posts
1705 upvotes
mtmp4k wrote:
Dec 20th, 2017 3:07 pm
Current: Mazda 3 2014 GS (No convenience package) + I bought the warranty currently paying 162 bi weekly / $324 monthly.

What should I be paying? Honestly I'll be fine even with a used car for $5k but I'm not sure. Is $265/month + convenience package a good deal?

Please help
Can you re-read your question with the eyes of people who'd like to help you? Would you understand anything if you were on the other end?

I can't figure out if you're asking about a buy-back of your current car, leasing a brand new Mazda 3, or justgiving back the keys and start anew?

So I'll just give a very general personal POV : leasing (especially such low-end cars because of the very low residual) is usually never a good idea.
Deal Addict
User avatar
Jul 26, 2007
3900 posts
1594 upvotes
Toronto
If you are thinking about buying a car like say for $5000, leasing isn't a good idea. It's a money sink and is only for those people who wants a new car every few years and don't care for maintenance or depreciation value of the car.

If you are set on buying this time, it will save you lots of money. For example, for past 3 years, you spent $12k and have nothing to show for, if you bought a used car for $5000 and had yearly $1000 repairs, you will still come ahead by $4k after 3 years and still have the old car.

If you must have a new car every few year, then lease is good idea.
Deal Fanatic
Apr 11, 2006
6137 posts
1599 upvotes
Mississauga
Yes, you should renew.
[OP]
Newbie
Feb 22, 2017
92 posts
14 upvotes
Reread the title
Deal Addict
Aug 10, 2013
2440 posts
1715 upvotes
Whats the said buy out vs what they are going for on the used market? Youll probably notice the value is not there. Not that its a bad vehicle but if the buy out is more than what they go for on the used market i think you know what the answer is.
Smash that like button!
Deal Fanatic
Apr 11, 2006
6137 posts
1599 upvotes
Mississauga
mtmp4k wrote:
Dec 20th, 2017 3:51 pm
Reread the title
Exactly! Re-read the title! "...Should I renew?..."
kenchau wrote:
Dec 20th, 2017 3:31 pm
Yes, you should renew.
Deal Addict
Aug 20, 2007
1846 posts
599 upvotes
Kitchener
How do you renew a lease OP??

Options:

Buy the car out based on the terms in your agreement
Give the car back

These are really your only options
Deal Addict
User avatar
Jul 26, 2007
3900 posts
1594 upvotes
Toronto
You can't renew a lease. Unless you return the car and Mazda will lease the same car back to your for $265 per month...
Sr. Member
Aug 18, 2014
534 posts
336 upvotes
Markham, ON
mtmp4k wrote:
Dec 20th, 2017 3:51 pm
Reread the title
WHERE IS THAT DOWNVOTE BUTTON!???
Deal Fanatic
Feb 17, 2007
5523 posts
1705 upvotes
pinkdonut wrote:
Dec 20th, 2017 5:10 pm
WHERE IS THAT DOWNVOTE BUTTON!???
Thankfully, you can downvote the thread.
OP's got 17 posts, registered this year, but when veteran members try to help him out, he gives a smart ass answer and then bumps his thread, wondering why he's not getting meaningful answer.
Deal Guru
User avatar
Mar 9, 2007
10737 posts
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Think of the Childre…
mtmp4k wrote:
Dec 20th, 2017 3:07 pm
Hey guys, my 14 Mazda 3 GS lease is expiring and I was paying $320/monthly 48 months 0 down with 20k

I am looking at the 2018 Mazda 3 GS. What will be a good price? I have seen people pay around $265/monthly with the convenience package.

I
That price good I see you won.

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Addict
Jan 8, 2007
2255 posts
747 upvotes
Calgary
mtmp4k wrote:
Dec 20th, 2017 3:07 pm
Hey guys, my 14 Mazda 3 GS lease is expiring and I was paying $320/monthly 48 months 0 down with 20k

I am looking at the 2018 Mazda 3 GS. What will be a good price? I have seen people pay around $265/monthly with the convenience package.

I
You can go on unhaggle.com and spec out a mazda 3 gs. They have a lease calculator in there as well as invoice and retail prices. Aim for 300-$500 over invoice and see what the monthly lease payment is.

By the way, if you're paying $162 bi-weekly that means you're paying $351/month, not $324. Semi monthly payment you can multiply by 2, but bi-weekly doesn't work like that because there are 26 payments in a year, not 24.
Sr. Member
Aug 18, 2014
534 posts
336 upvotes
Markham, ON
aleks wrote:
Dec 21st, 2017 3:10 pm
You can go on unhaggle.com and spec out a mazda 3 gs. They have a lease calculator in there as well as invoice and retail prices. Aim for 300-$500 over invoice and see what the monthly lease payment is.

By the way, if you're paying $162 bi-weekly that means you're paying $351/month, not $324. Semi monthly payment you can multiply by 2, but bi-weekly doesn't work like that because there are 26 payments in a year, not 24.
He can't type a proper coherent post, why would you expect him to do proper math?
[OP]
Newbie
Feb 22, 2017
92 posts
14 upvotes
aleks wrote:
Dec 21st, 2017 3:10 pm
You can go on unhaggle.com and spec out a mazda 3 gs. They have a lease calculator in there as well as invoice and retail prices. Aim for 300-$500 over invoice and see what the monthly lease payment is.

By the way, if you're paying $162 bi-weekly that means you're paying $351/month, not $324. Semi monthly payment you can multiply by 2, but bi-weekly doesn't work like that because there are 26 payments in a year, not 24.
Thanks man

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