Saturday, March 29, 2008

New Ride

New ride purchase/lease is almost done. Picking it up Monday. Decided on a Black Mazda5 Grand Touring WITHOUT Navigation. Spending the $2K on Nav wasn't justifiable for an inferior navigation unit to what I have now. I can install my own with more features (like a backup camera) for under $900. I am going to use birthday money from the best mother in law in the world along with a little savings to pay for it. The dealership is awesome. Shockingly straight forward. Through my employment with American Eagle I get S plan pricing. The Sticker price is $23K 'S' Plan price is $21558. I then get $1250 off for lease cash bringing it down to $20308. They are taking $500 additional off because it has 811 miles on it. It's brand new...just been moved around a lot. The price is then $19808. For my Acura I owe $17400 ($17K + $380 early lease termination). The dealer is giving me $17750. Bringing the price down to $19558. The residual value of the car is expected to be $11K in 3 years. The lease payments should fall between $345 -$380. I am adding window tint, homelink rearview mirror and rear bumper guard. I'm happy.

I was going to go through a leasing company but the agent I was dealing with gave me a bad feeling as I could not get a solid or ballpark interest rate or money factor (interest rate for leases) from him. By going through Mazda I get $1250 lease cash I would not have been able to get going through a separate company.


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