Adding accessories on a lease
04-08-2004 | 12:17 PM
#1
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From: Long Island
Adding accessories on a lease
I am leasing a 6spd RX8 GT, but with NO accessories as part of the lease. BUT, I now have added the following:
1) Genuine Mazda spoiler
2) Genuine Mazda front mud guards
3) Genuine Mazda side aero flares
4) Genuine Mazda rear aero flares
What will happen when it comes time to turn the car back in? I have heard that as long as I use OEM Mazda parts, I am only increasing the car's value at my expense.
What makes me wonder is that the spoiler and aero flares required drilling into the car, so taking them off right before the end of the lease is not an option.
1) Genuine Mazda spoiler
2) Genuine Mazda front mud guards
3) Genuine Mazda side aero flares
4) Genuine Mazda rear aero flares
What will happen when it comes time to turn the car back in? I have heard that as long as I use OEM Mazda parts, I am only increasing the car's value at my expense.
What makes me wonder is that the spoiler and aero flares required drilling into the car, so taking them off right before the end of the lease is not an option.
04-08-2004 | 01:13 PM
#3
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Joined: Feb 2003
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From: Long Island
But aside from my cost for the accessories after the fact, do you think it will be an issue to the leasing company? The way I see it, using OEM parts not originally built into the lease will only increase the value, and the only downside is the money I am out buying the parts.
The only reason I did this is because I didn't want to make my payments go up to add the accessories at the price Mazda wanted. I can add them at my own rate for much cheaper.
The only reason I did this is because I didn't want to make my payments go up to add the accessories at the price Mazda wanted. I can add them at my own rate for much cheaper.
04-08-2004 | 01:19 PM
#4
Whuumpha!!
Joined: Jan 2004
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From: New Jersey
The leasing company won't care especially if they are factory parts. The only time you can get in trouble is if you did something that lowered the value. That would have to be something major like painting the car pink.
My car is leased and I put on the splash gaurds and an exhaust. I could turn the car in with the exhaust on if I wanted to.
My car is leased and I put on the splash gaurds and an exhaust. I could turn the car in with the exhaust on if I wanted to.
04-08-2004 | 02:50 PM
#6
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Joined: Oct 2003
Posts: 102
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From: North of Spokane WA
FYI: it's generally a much better deal if you lease a fully loaded vehicle than one that's got nothing and then spend your own money to load it up.
On many leases $4000 - $6000 of options may raise the monthly lease payment by only $10 or $20.
On many leases $4000 - $6000 of options may raise the monthly lease payment by only $10 or $20.
04-08-2004 | 04:58 PM
#9
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Often times turning a lease back in is a suckers bet. They can hit you up for mileage, damage, etc.. What they allow is for you to purchase the car at a predetermined/residual price.
But on a lease you are essentially paying only for the portion of the car you use as you go. You could trade the car right now, it would be painful, but if you had to you could. Waiting until 6 months or so before the lease is up to trade the car increases your chances of "breaking even". Sometimes there are minor monetary penalties for early termination of a lease.
By trading, or selling, prior to the lease end date you get around all of the mileage and damage crap. The car has a value just like a purchase, and you have an outstanding balance just like a purchase. The dynamics are slightly different but most of the same rules apply.
But on a lease you are essentially paying only for the portion of the car you use as you go. You could trade the car right now, it would be painful, but if you had to you could. Waiting until 6 months or so before the lease is up to trade the car increases your chances of "breaking even". Sometimes there are minor monetary penalties for early termination of a lease.
By trading, or selling, prior to the lease end date you get around all of the mileage and damage crap. The car has a value just like a purchase, and you have an outstanding balance just like a purchase. The dynamics are slightly different but most of the same rules apply.
04-09-2004 | 08:04 AM
#11
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Joined: Mar 2004
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From: Baton Rouge
Recent Lease Info - Baton Rouge
Here is my recent lease info from Baton Rouge Market
MSRP $34014
Final Price $31300 ($300 over invoice)
Down PMT $2500 (as trade of old minivan)
Money Factor = 0.00285 (from Mazda)
36 months & 36000 miles
Residual 58%
PMT with local 9% sales tax $443/mo
I thought I could do better on money factor. Using LeaseWizard program generated lower money factors out of state or out of Baton Rouge, but tended to be associated with higher fees or lower residual. So I stayed with Mazda and took care of everything at the dealer.
MSRP $34014
Final Price $31300 ($300 over invoice)
Down PMT $2500 (as trade of old minivan)
Money Factor = 0.00285 (from Mazda)
36 months & 36000 miles
Residual 58%
PMT with local 9% sales tax $443/mo
I thought I could do better on money factor. Using LeaseWizard program generated lower money factors out of state or out of Baton Rouge, but tended to be associated with higher fees or lower residual. So I stayed with Mazda and took care of everything at the dealer.
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