my new wheels, hopefully soon.

Leeoniya

Enlightened
Joined
Sep 27, 2002
Messages
376
Location
Northbrook, IL
04_mazda3_5door.jpg


Mazda3 5-door.

just need to come up with the $2,000 downpayment and first month's payment + plates and reg. got $1,500 already. this will definitely put my flashlight spending on temporary hold. but dont be alarmed, it will go back up to quota asap. this sucker is gonna be on a 36 month lease at $250/mo.

time to replace my mashed up 94' civic LX which still runs fine, but i cant remember the last month i didnt have to go to court for a cracked windsheild, emissions...after my accident..which deployed both airbags. and get my license suspended. or some other excellent fine that puts me in court i know oh too well.

and now that the person who caused the accident has the speeding ticket and no insurance on her record i can start the slow and painful process of getting my money from her in small claims. grrrrrr.

one thing that's unsettling is the fact that the hood styling has hints of the PT cruiser in it, the ugliest car ever to be sold in any market, EVER. but it seems to look much better than that milk wagon / hearse.

Leon
 

powernoodle

Flashlight Enthusiast
Joined
Feb 25, 2004
Messages
2,512
Location
secret underground bunker
$11,000+ to drive someone else's car for 3 years? Yikes! How about saving up that $11K and buying a 3 year old Mazda 3 and driving it for 8 years? But thats not as much fun, I admit.

Ok, I'm a fuddy duddy!

best regards
Powernoodle
 

gadget_lover

Flashaholic
Joined
Oct 7, 2003
Messages
7,147
Location
Near Silicon Valley (too near)
That's a cute little car. Good luck with it.


What was your logic in deciding to lease it? The MSRP starts around $18,000 so you'll pay more than 1/2 of the price during the lease.

My son wanted to lease a cute little BMW, until I pointed out the $20,000 he'd have to pay for the car after 4 years of leasing it.



Daniel
 

MR Bulk

Flashaholic
Joined
Aug 12, 2002
Messages
6,059
Location
Hawaii
Depends on the lease - most will allow you to purchase the car outright at the end for a predetermined "residual value", which is usually the projects wholesale blue book at that time. This gives you the option to purchase or just turn it back in to the dealer, which in turn is based on the condition of the car (had an accident or two while you had it which was then repaired but you know that behind the front grill is nearly all bondo, or it turned out to be a lemon, etc.).

And then if you structure your tax posture properly (ie., I use my cars for work) your write-offs vs. normal depreciation will come out just about the same. My own '95 Chevrolet Impala SS actually cost me $85 Less to drive on a lease. But when the time came to buy it, the car was still in cherry condition so I did, then drove it payment-free for another year, then sold it for more than the residual value I paid twelve months ago.

So it's all about extra options available to you at the end of the lease - might be hard to unload a not-so-good-by-then car, and you have the option of simply turning it back in and walking away.

Okay, car leasing 101 dismissed...
 

Leeoniya

Enlightened
Joined
Sep 27, 2002
Messages
376
Location
Northbrook, IL
lease buyout will definitely be a deciding factor, i'll see how it lasts through the lease first. also i'm going to see if i can get within $250/mo if i finance it for much longer. other options are still on the table while i'm getting bucks for the downpayment.

the thing is like a souped up Protege S. it's completely sport tuned. it's no Impreza WRX STi, or lancer Evo 7, but it's also practical, gets 35mpg, and is 17,500. it would be kickass if it was RWD or AWD with a bit more power squeezed out of the 2.3L with higher compression. but i hope lower compression reduces blowby and increases reliability. i can deal with a linear torque curve peaking at 160lb-ft and 160hp. still a step up from my 102hp civic.

its manual 5-speed is perhaps the best of any car within that price range and many that are much more expensive. also the suspension is stiff, body roll minimal. 17inch alloy wheels, low profile tires. and i can fit my snowboard in it very easily. which is important.

it should be a very fun track car and a good drive in general. i hope 2005 brings greater reliability so that i can still feel confident about buying it out after the lease is up. most cars nowadays will outlast anything made in '94. there's no distributer to go bad. i hope alternators have improved in 11 years as well as water pumps. what else goes first?

i'll probably end up babying it and putting synthetic oil into it. too bad i dont have enough compression to use premium...yet. turbo anyone?

many people say that just putting a CAI on it improves low-end torque. i guess we'll have to see when the time comes.

i'll second Mr. Bulk on the lease reasoning. if the car is not so great at the end of the lease, you can just walk away.

Leon.
 

Penguin

Enlightened
Joined
Apr 27, 2003
Messages
688
Location
Diamond Bar, California
I like it! 160hp? thats a lot for that little thing! Civic Si territory! Stay safe! dont drive TOO fast /ubbthreads/images/graemlins/grin.gif
 

3rd_shift

Flashlight Enthusiast
Joined
Mar 9, 2004
Messages
3,337
Location
DFW. TX. U.S.A. Earth
The lease and downpayment is negotiable.

Otherwise, have a pow-wow with your bank loan officer before you go and get a car.
There are several other finance options available to keep the payments and the troubles to a minimum.

Stay with your clunker during the trade in appraisal and get the keys back to it before going any further.
Having your keys with you during negotiations does help some.
If they get huffy and puffy with you;
"The dealership with the most patience for me has the better chance of winning my business."
Then start to walk out.

BoB Elliston's "What Car Dealers Don't Want You to Know" is a very good book to read for this.

Please, please be informed by someone on your side before you end up 3 years later with a not so new car to "turn in" and having to start all over again. /ubbthreads/images/graemlins/mecry.gif
Dealerships sales staffs are under enormous pressure to get as much money from each customer as they can for each sale/lease.
Take it from a not so pushy flashlight salesman who never had the heart to "move up" to selling cars.

Edit:
One could buy a new Ford Ranger with almost as much power and the 5 speed for 11 grand purchase, not lease.
I have driven some Rangers at work with wayyyyyyyy over 200k miles and they were still running good.
Myself and the other guards just couldn't tear them up, even long after the Nissan pickups of the same age had given up.
 

powernoodle

Flashlight Enthusiast
Joined
Feb 25, 2004
Messages
2,512
Location
secret underground bunker
Leeoniya:

$250 per month invested during your working life of 40 years (age 25 to 65) in a mutual fund earning 10% (which is less than the stock market has earned since 1929) will give you $2,620,000 at age 65.

Enjoy that Mazda. /ubbthreads/images/graemlins/wink.gif

best regards
Powernoodle
 

PlayboyJoeShmoe

Flashaholic
Joined
Sep 4, 2002
Messages
11,041
Location
Shepherd, TX (where dat?)
Looks like (and from what C&D think) drives like a VERY cool car!

I can't wrap my mind around leasing. But then the newest car I ever got was a 1979 AMX (AMC Spirit) in '80.

I'd seriously try to get decent financing and keep it for a while.
 

Leeoniya

Enlightened
Joined
Sep 27, 2002
Messages
376
Location
Northbrook, IL
powernoodle, i dont see how $250/mo into a any mutual fund today will get me to and from work, which is what allows me to make the $250 in the first place. wrap your mind around that one.

the first step to security is to make money, not to save it. cause money that isnt made cannot be saved.

250/month into a car that allows me to make 2,000/month is much higher than a 10% return, and no, i would not be better off stowing away $250 into a mutual fund every month with no ability to make it in the first place.

as for you powernoodle, two can play this game. please put the $250 you spend on food, into a 10% mutual fund and see how useable it is to you when you're 65 /ubbthreads/images/graemlins/icon15.gif

but i see your point...and the Mazda will be enjoyed /ubbthreads/images/graemlins/grin.gif
Leon
 
Top