Notices
Canada Forum For our friends up North, eh!

Assume Lease, take over

Thread Tools
 
Search this Thread
 
Rate Thread
 
Old 08-16-2005 | 10:40 AM
  #1  
f1_champ's Avatar
Thread Starter
Registered User
 
Joined: Jul 2004
Posts: 20
Likes: 0
From: Montreal, Canada
Assume Lease, take over

2004 Mazda RX8 GT in Montreal Canada - Black with Moon roof, tinted windows, leather, loaded except NAV

Excellent condition. 21,000 km. Lease began in July 2004 and has only 24 months left. 81,000 km limit (which I paid the extra already). Lease payments are $465/mth.
$3500 down (I put down $9200 to begin with) If you are interested, please email to f1_champ@yahoo.com.

Thank you.
Old 08-16-2005 | 12:07 PM
  #2  
01Racing's Avatar
Registered
 
Joined: Mar 2004
Posts: 1,637
Likes: 0
From: Toronto
Be advised F1 that if someone assumes your lease (if it is a Mazda Canada Credit Lease) you will still be a guarantor of that lease. Meaning, if the person walks away it you are responsible for it still!
Old 08-16-2005 | 05:41 PM
  #3  
Rontec's Avatar
Which is the gas pedal?
 
Joined: Jul 2005
Posts: 19
Likes: 0
From: Toronto
You should specify whether it is MT or AT.

Last edited by Rontec; 08-16-2005 at 11:23 PM.
Old 08-16-2005 | 06:59 PM
  #4  
tee_rx8's Avatar
Registered User
 
Joined: Jul 2005
Posts: 75
Likes: 0
I put down 8000 and lease for $400 a month. How can u be that much? And mine come with appearance body kit and spoiler also. Just curious...
Old 08-16-2005 | 07:09 PM
  #5  
Ghostrider8U's Avatar
Registered User
 
Joined: Jul 2005
Posts: 23
Likes: 0
Residual?

What's the residual / ballon payment after the 3 year lease is up? What's the interest rate? You only got the 36 month / 80K km warranty?
Old 08-17-2005 | 12:41 PM
  #6  
f1_champ's Avatar
Thread Starter
Registered User
 
Joined: Jul 2004
Posts: 20
Likes: 0
From: Montreal, Canada
Originally Posted by #84Racing
Be advised F1 that if someone assumes your lease (if it is a Mazda Canada Credit Lease) you will still be a guarantor of that lease. Meaning, if the person walks away it you are responsible for it still!
thanks 84, is there a better way to get out of the lease?
Old 08-17-2005 | 12:42 PM
  #7  
f1_champ's Avatar
Thread Starter
Registered User
 
Joined: Jul 2004
Posts: 20
Likes: 0
From: Montreal, Canada
Originally Posted by Rontec
You should specify whether it is MT or AT.
it's a MT 6spd
Old 08-17-2005 | 12:43 PM
  #8  
f1_champ's Avatar
Thread Starter
Registered User
 
Joined: Jul 2004
Posts: 20
Likes: 0
From: Montreal, Canada
Originally Posted by Ghostrider8U
What's the residual / ballon payment after the 3 year lease is up? What's the interest rate? You only got the 36 month / 80K km warranty?
there's nothing to pay and you can get $ back from the extra milage that I've already paid for.

6.5%

yes since the lease is only 36month
Old 08-17-2005 | 12:47 PM
  #9  
01Racing's Avatar
Registered
 
Joined: Mar 2004
Posts: 1,637
Likes: 0
From: Toronto
Sub-leasig your car is okay, as long as you know the person well, and know they wont miss payments etc. The best way to terminate your lease is to have someone buy it out now. You can only get your payout from your original selling dealer if it is a Mazda Canada Credit lease.
Old 08-17-2005 | 03:45 PM
  #10  
agentx100's Avatar
Registered User
 
Joined: Jun 2005
Posts: 24
Likes: 0
From: Montreal
Why are you getting rid of it?
Old 08-17-2005 | 07:15 PM
  #11  
f1_champ's Avatar
Thread Starter
Registered User
 
Joined: Jul 2004
Posts: 20
Likes: 0
From: Montreal, Canada
Originally Posted by agentx100
Why are you getting rid of it?
I love the car but I decided to save money for something else, unfortunately.
Old 08-17-2005 | 07:16 PM
  #12  
f1_champ's Avatar
Thread Starter
Registered User
 
Joined: Jul 2004
Posts: 20
Likes: 0
From: Montreal, Canada
Originally Posted by #84Racing
Sub-leasig your car is okay, as long as you know the person well, and know they wont miss payments etc. The best way to terminate your lease is to have someone buy it out now. You can only get your payout from your original selling dealer if it is a Mazda Canada Credit lease.
thanks 84, you've been very helpful.
Old 08-17-2005 | 07:26 PM
  #13  
Mugatu's Avatar
Even My Dog Searches
iTrader: (1)
 
Joined: Jul 2004
Posts: 2,664
Likes: 1
From: NY
Originally Posted by tee_rx8
I put down 8000 and lease for $400 a month. How can u be that much? And mine come with appearance body kit and spoiler also. Just curious...
why on earth would you put $8000 on a car that's not yours? Congrats, you just made a leasing company very happy by throwing your money at them. What you SHOULD have done is put that money towards financing a car that will eventually be yours. Instead you're $8k poorer plus $400/mo (which doesn't even make sense).
Old 08-18-2005 | 08:29 AM
  #14  
smiley_o's Avatar
Registered User
 
Joined: Jun 2005
Posts: 6
Likes: 0
From: Ottawa, Canada
Please excuse my first off-topic remark:

I'm sure f1_champ's wound didn't need salt poured into it Mugatu (regardless of right or wrong). Here I go myself, breaking the 'ol "some truths are better left unspoken rule"...

Back to topic.
A. Could you please post some pictures of the car?
B. Did you buy rims and winter tires? (probably not given its a lease, but I'm asking anyway)
C. What's the anti-theft device on the car if any (to my knowledge, insurers require one for Montreal residents)?
D. Do you have the carfax report for your car?

Thanks in advance f1_champ for your answers.

BTW, sorry you have to let your RX8 go.
Old 08-18-2005 | 09:15 AM
  #15  
f1_champ's Avatar
Thread Starter
Registered User
 
Joined: Jul 2004
Posts: 20
Likes: 0
From: Montreal, Canada
Originally Posted by smiley_o
Please excuse my first off-topic remark:

I'm sure f1_champ's wound didn't need salt poured into it Mugatu (regardless of right or wrong). Here I go myself, breaking the 'ol "some truths are better left unspoken rule"...

Back to topic.
A. Could you please post some pictures of the car?
B. Did you buy rims and winter tires? (probably not given its a lease, but I'm asking anyway)
C. What's the anti-theft device on the car if any (to my knowledge, insurers require one for Montreal residents)?
D. Do you have the carfax report for your car?

Thanks in advance f1_champ for your answers.

BTW, sorry you have to let your RX8 go.

Hello smily,

here are the answers:
A-Sure
B-I did indeed buy a set of wheels, they are only one season old, therefore still pretty new. If you want them, we can work something out, I was going to sell them seperately.
C-It has the factory alarm system on the car (the one that comes with the GT)
D-I do not have the report. The car has not been to any accident and I took it off the dealer brand new. Eventhough it's not my car, I still do the scheduled maintenance.

Let me know if you need more info. Thanks.
Old 08-18-2005 | 10:15 AM
  #16  
f1_champ's Avatar
Thread Starter
Registered User
 
Joined: Jul 2004
Posts: 20
Likes: 0
From: Montreal, Canada
sorry, forgot the pictures earlier.
Attached Thumbnails Assume Lease, take over-ecab.jpg   Assume Lease, take over-59a6.jpg  
Old 08-19-2005 | 10:32 AM
  #17  
f1_champ's Avatar
Thread Starter
Registered User
 
Joined: Jul 2004
Posts: 20
Likes: 0
From: Montreal, Canada
For those who may want to buy it, the current cost is 31448 + 300(admin fee)
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
ShellDude
RX-8 Parts For Sale/Wanted
5
10-01-2015 10:55 PM
XianUnix
Series I Trouble Shooting
6
09-29-2015 04:48 PM
DeltaJ802
RX-8 Discussion
3
09-29-2015 02:20 PM
Evan Gray
Series I Trouble Shooting
0
09-26-2015 01:30 PM
p8ntman442
Series I Tech Garage
3
09-23-2015 10:18 PM



You have already rated this thread Rating: Thread Rating: 0 votes,  average.


All times are GMT -5. The time now is 07:19 PM.