06 Mazda Tribute 4 cyl

[Daggy]

The dealer is eating our $1600 in negative equity on our old truck. Is this a pretty good?

[AVToller]

I think we will need some more information to form ANY sort of opinion. 

[Bullet Blue]

And also, two threads isn't necessary...

[ovr50]

Dealer will not be "eating it" - it's in there somewhere and you will be paying for it. No question about it !!!

[Craig]

LOL, I missed this one.  The dealer is eating nothing.  You're eating the $1600 - the dealer just rolled it into another number.  If you're paying MSRP for the new one, that's a good indication.  If other people are getting more than $1600 off a new Tribute, he's not done you a favour at all, and you're getting hosed on both ends of the deal.

[Daggy]

Bascically, we're getting $1820 off the MSRP... on the 06 Tribute, can anyone tell me if this is a good deal or not?? That would put the price at $24290 for the GX 2WD Manual, with body accent package and convienence package, before taxes.

[Craig]

Wait a sec, here.  In your other thread, you say you've had no problems with your other Tribute for the past three years.

All this time, I assumed you owned the car, or it was coming to the end of a 3 year lease.

Are you saying that you are trading in a trouble-free, 3-year-old car, on which you owe $1600 more than it's worth, for a new car of the same make and model?!?

[Daggy]

We are at the end of a 4 year lease... with 3 months left and having 9000 km over the limit.
that adds up to $1800... Our dealer is cutting us a cheque for that and we will pay the MRSP
of $24595.

[Daggy]

Hey chasen our dealer said if we didn't go with their undercoating that was $600 we would not be able to do it ourselves... "It would VOID the warranty" is this a load of SH*#T???

[AVToller]

Hey chasen our dealer said if we didn't go with their undercoating that was $600 we would not be able to do it ourselves... "It would VOID the warranty" is this a load of SH*#T???

That is a HUGE load!! 

[Daggy]

Does it make any sense about the warranty??
 

[Craig]

How many times do we have to tell you?  Aftermarket rustproofing will not void your warranty.

[Daggy]

that will be enough tanks 

[safristi]

It's HOMER-PLESS......!!!!!!!

[Craig]

Basically.

OK, so your current overage charge would be 9000km * $0.08 per km = $720

$1800-720/3 months left = $360/month lease payments

You're already 9000km over, so you average about 2300km/month driving

Times $0.08, your overage charge is $180 per month, were you to keep driving it to the end of term, for an extra ~$540 due upon return in three months.

If your dealer is willing to "cut a cheque for $1800", then suffice to say that $1800 is the minimum discount you can expect on a new Tribute.  7% sounds about right, though on a car like the Tribute with declining sales, I might expect to do better.  Even the 2006 models are offering 0% finance.  Just think what they'll do to get you into a new Tribute in January.

You are essentially paying $1800 to get out of a lease with three months left, rather than paying $2340 to get three more months of usage out of it.  For $540, why not just get three more months out of the car?

Whether it's a bad deal or not, depends on what that Tribute is selling for.  Sounds like your new lease payments for a base Tribute at MSRP over 48 months will be $400.  They'd be $360 if that $1800 were a discount.

If you expect to exceed your kilometre allowance, negotiate a larger allowance, or finance the car.  You'd be leasing at 2.5% over 48 months, but you could finance for 0% over 60 months.

Look, you'll be eating $540 in kilometer charges to keep it, but that's what I'd do.  Buy new in the winter when demand is low, and expect to get at least $2000 off the MSRP (if you get $2300 off, you've just coverd the kilometre overage fee), then if you have faith in the Tribute, finance it over 60 months at 0% for ~$460 per month.  The major downside of this is that you'll be seriously upside-down for the first three years (you'll owe much more than it's worth).

Or, grab a Tucson or similar, more recent vehicle for similar money.

[Daggy]

We are financing the new one over 5 years at 0%.

[Craig]

Good call, given the rates.

[Daggy]

I like the Tribute... We test drove the Tucson a few times... It's LOUD!!! and i think the Mazda will probably have a nicer resale value... Their 5 year was 5.9%... I think we made a wise choice.
I'm tired, I'm going home. Have a great weekend all!!

[Shnak]

So did you buy your new Tribute Daggy? I'm in the same boat right now Tucson vs Tribute, and having a hard time decide... Tucson is at 2.9%/60 months while the Tribute is at 0%/60 or 0.9%/72... I would most likely get the Tribute over 6 years, and pay it off early when I get the chance.

How is the sound insulation on the Tribute?