JLennon

Ok…this could be a long story, and so I will make it as simple as I can….

I think most of you are Americans, but I live in Canada. I was actually planning to buy a Civic 2006 coupe before, but after knowing the leasing rate (7.1%). I was totally turned down. Anyways, now I am seriously considering the M3 GT fully loaded. (Leather seats, moon-roof, 17” Rims, but NO Navi)….

The MSRP was 25,185 Canadian, that’s about 21K in US.
Monthly payment including tax is 400 Canadian, that’s about $338 in US.

Everything sounds right, but not on the leasing rate, the guy told me they used to have a better rate, but due to simple theory of supply and demand, they have raised the interest rate because inventory is running low and there are still lots of demand going on. (I think)

My local dealership has 2 more fully loaded GT left, one white, and one Meg. Grey.
The guy said Mazda Canada will release a new interest rate in November 1st.

Now….should I wait until then, or should I get the car right now?
I am so worried because the 2 cars could be sold this month….

Do u guys think 6.1% on leasing is just too crazy…because the car is a 2005 model?

Roddimus Prime

the dealership is jerking you around. They are saying that to get nmore money out of you. $21K for the 3S loaded with Nav is HIGH. I'm in the US so I'll use US prices... My 3S automatic, leather, sunroof, 6disk, xenon, side airbags, etc was only $19K. Used they can be had for THOUSANDS less. We sold it for $17K

My advise is to not buy a new car but to buy one that is a few months to a year old. Doing this ensures there are no problems, you get a full warranty and the price is thousands less.

Roddimus Prime

p.s. the RX8 we bought had 3500 miles on it when we picked it up....the sticker in the glove box said the car was $32K....I paid $22.8K out the door for it.

Orange 3

Check out mazda.ca (it canadian prices), click on sales and service then on build and price. It will give you a better idea of what the car should cost.

Alot of car company are trying to "standardize" the prices through their dealership with the internet. But some dealership will try and milk more money if they can by adding more to the price (PDI and freight). I figure the prices quoted from the internet should be the highest prices possible and the dealer should match it or beat it.

The price of 25 185$ is identical to the price on the site for a 3 GT with leather and automatic (if that was the car you were looking at).

marty

Keep in mind that internet prices do not include PDI or freight. Shop around different leaders in your area and also talk to fleet sales managers.
Banks will give you different rates so shop around for a good rate as well. Keep in mind that Mazda financing comes with a price even if you think you are geting a good deal with 0% financing.
I looked at the 2006 M3 Sport GT with LP (leather, heated seats, 6 disc CD) but the price incremental was too rich for me. Leather seats are nice but not everyone makes good leather seats. Some manufacturers are good, others are not so good. Good leather seats are those that you don't slide around in corners. The heated seats are a nice touch (my old 1974 Volvo came with it) but good quality sheep skins are a good compromise. 6 disc CD's are nice but after an hour driving it is time to stop and stretch anyway.
The 2006 models are not that different than the 2005 models and 2005 models have 0% financing from Mazda Canada for 2 years.
2006 Mazda M3 Sport GT, 5 dr, standard shift, AC, Moonroof are around Cdn $27,400 on the road.
Regards.
Marty

Hitman Hart

Youcan't compare prices for cars in Canada to those in the US. Prices for cars in the US are cheaper, regardless of the conversion rate.

Mazda3guy

Are you saying that dealeship leasing rate is 6.1%? It's really high, whether the car is in demand or not. From what I understand, the Mazda Canada has set the rate for 2005 model, and dealership does not have the authority to change that. Of course, if the car is in such a demand that they may charge premium on the price of car, but not the leasing rate. So if this rate is actually in the "book" then you have no choice but to pay that rate. If not then ask them to show you this new rate.

mconheady

I was also considering a 06 Civic and was turned off by their interest rates. I'm trying to get a M3 GT now with Navi. It's really a differrent class of car, and I'm glad Honda turned me off with their financing.
Mazda's is better but the rate is high because :
1. Interest rates are on the rize in the US and Canada
2. Mazda rates are used as a buying incentive. M3s are in demand now, so there is little reason for burchasing incentives.
3. Depends on your credit. Mazda financing will give better rates on lower terms and better credit because those purchasers are in higher demand.

Why not go to a 3rd party for a loan? Credit union?

marty

I took delivery of my 2006 M3 GT hatchback yesterday. It is a blast to drive. The standard shift is very smooth and it will probably get better. The color I chose is Copper Red Mica. I don't normally like red cars but this shade of red is very nice.
Regards.
Marty