My dad sent me a car listing, and I don’t live in Canada, so I’m not sure if it’s worth it. Any advice would be appreciated!
You could get a 2025 Mazda 3 GS for about $10 more every two weeks. Financing wouldn’t cost that much extra.
Edit: I see this one has the comfort package, but I’d still stick to what I said.
Blane said:
You could get a 2025 Mazda 3 GS for about $10 more every two weeks. Financing wouldn’t cost that much extra.
Edit: I see this one has the comfort package, but I’d still stick to what I said.
How many more months for that extra $10? Don’t just look at the payments like that.
$23k for a 2022 car seems way too high. After the lease, the car’s value would be much lower than $15k. I know it’s in Canadian dollars, but you might want to check out certified pre-owned (CPO) options from Mazda instead.
@Dara
English isn’t my first language, so could you explain what you mean by the value being lower and what CPO means?
Kim said:
@Dara
English isn’t my first language, so could you explain what you mean by the value being lower and what CPO means?
The value of the car when the lease ends is usually lower than what you’d pay to buy it out. CPO stands for certified pre-owned. These cars are inspected by the dealer and come with an extended warranty.
I was looking for a Mazda 3 AWD in Montreal recently. Dealers here price 2019-2020 models around $21k, regardless of whether it’s GS, GS with the preferred package, or GT. The trim level didn’t seem to affect the price much, just for reference.
This sounds similar to my lease, except my buyout is $10k. Where’s that extra $5k coming from? I pay the same bi-weekly but only put down about $800.
The way they repeated the same point in slightly different words in the first two sentences feels shady to me.
I wouldn’t go for this.
I wouldn’t do it. I don’t live in Canada, but this feels questionable legally. Mazda North America owns the car, and they have an agreement with the person who posted that ad. I doubt it’s legal for someone else to take over possession of the car.
@Flynn
It’s totally legal. Lease takeovers are common, and there are even websites dedicated to helping people find them. The leasing company just needs to approve the deal.