** It's Killing me! **

[gjmoreo]

I cant believe that I paid as much as I did for mt Mp3 compared to others and MSP buyers. I paid 18k for a car that has mad problems with clunks, transmissions, electronics, rotor rusts and other tsb’s. I just can’t believe I paid that much for a car when a MSP is selling for less now.

I’m torn and I need some input … I can buy a Speed for like 17-17.5 k and get a “new car” with the turbo and LSD and any other goodies the MSP offers compared to the Mp3, but I have over 2 years paid off on the mp3 and the car will be mine in another 3 (kinda long time) The thing that kills me is I have a 385.00 car payment and I know I can get in a new speed for less than that. The downside to that is I will have another 60 month loan and I have to deal with the Mp3 as a trade-in.

It was WAY worth it when I first bought the Mp3 (it was the shiz-nit!)
I think I am now ready to move on … as much as I love her and all I cant seem to find the logic in paying almost $400.00 per month for a slow (but sexy) car.

WHAT DO I DO?
AM I GETTING THE SHAFT HERE?
OPINIONS PLEASE!

Thanx!

[BremertonMSP]

But if you buy an MSP now, it a couple of years there will be something better out that will cost the same. It's just the way things go with cars. Same with computers. Just think of the people who bought wizbang computer a couple of years ago. Look at what's out now and how much they are.

Suck it up. I paid about 4k more for my MSP then some of the other members. Oh well, not much I can do about it. The good thing about money is, you can always make more. Unless you are a total loser with no job, no skills, and no desire.

So, keep it and mod it, or trade it in and make more payments. You're going to have to make that decission on your own.

[shinzen]

Or sell the mp3, get a 3 year loan on the mspand keep your payments about the same..... food for thought

[Jeph]

Yeah i know how you feel. I bought my '02 ES for about 14k when it first came out, now you can get one at the same dealership '03 for 11k its ridiculous. Oh and i can get a barely used '02 wrx for 14k. grrr :mad:

[mp3moose]

I feel you. I cannot believe the MSP's are selling for 16K. Every MP3 was sold at or above 18K. We were soo lucky to have such a rare car, but in comes MSP.

I got over it though. It was still a great deal for what you get in a car. After modding it and spending soo much time with it I can't justify trading it in or selling even if it is for a turbocharged version.I am still in love with my mp3 =)

Moose

[gjmoreo]

Thanks guys ...
dosent that seem to be a high payment for a 18k car though?

(compared to 250.00 for a MSP)

In all honesty I just want the best for my money
MAZDA would barley move one ince on the pricing for the Mp3 becuase everyone wanted one and it was limited edition ... now the mazdaspeed is selling for 15-16 =k in some cases.

I'm just feel as if I am paying too much for the Mp3.

ANYONE ELSE HAVE INPUT?

[gjmoreo]

I almost want to keep the mp3 and buy a new speed just becasuse I think it's such a good deal. The MSP is hands down the best car in its class and price range.

[PhreakV]

yeah, I think that it'd be nice to get the out-of-the-box turbo car but right now you've got a car that only 1,500 were made (I think that's the production number) with the number that have been wrecked; on this forum alone, the number out there is probably about 1,000 left. I would stick with the MP3, if I had a choice I would get one now over the MSP (just my opinion, not hating on the MSPs) and if you want, try to refinance and get a turbo to slap on there. if you want the opinion of someone who switched recently, talk to "freekwonder" he's in my car club and just traded in his MP3 on an MSP. my advice is to stick with the MP3...


as an added bonus, you've already got that amazing sig set-up for your MP3 :D

[traitorhound]

get the msp and keep the mp3. . . .

[gjmoreo]

To be honest ... I dont even know if I want a MSP as much as i think it's a good deal. I would love a STI or EVO or 350Z (who wouldn't) but i know that i wouldn't get squat for my Mp3 compared to what I owe ... so I would be upside down with a 600.00 payment.

ARGH!

I will need another 4k to finally be content with this car ..
turbo, custom system, new rims / tires, ...and well that pretty much takes up the 4 grand!

[shaolin]

This might be interesting to you.

2001 Mazda Protege MP3 Sedan 4D
Engine: 4-Cyl. 2.0 Liter
Trans: 5 Speed Manual
Drive: Front Wheel Drive
Mileage: 30,000

Private Party Value $12,155

and this.

2003 Mazda Protege ES Sedan 4D
Engine: 4-Cyl. 2.0 Liter
Trans: 5 Speed Manual
Drive: Front Wheel Drive
Mileage: 5,000

Private Party Value $12,005

[shaolin]

I put excellent in for both of your vehicle conditions, and such. Mileage, I guessed at. But how I see it, is the market value, doesn't really compensate for all the extra goodies you get. As far as I'm concerned, it wouldn't be worth your while to trade it in, until the car is near pay off, and by that time, you might want to just keep it, so that you can use it as an every day driver and use your newer car only when you want or need to. that's my advice. Honestly I hear about the mp3 all the time and how great it is. Why you're tired of your car is beyond me. If your payments are too hefty, why don't you just refinance it. You should be able to get a better rate, and cheaper payment.

[gjmoreo]

Originally posted by traitorhound
get the msp and keep the mp3. . . .

with the money i would be paying each month for my mazdas I could easily get a STI, EVO, RX-8 or 350Z ... Besides I already have a JEEP wrangler for the winter .... I dont need 3 cars lol

[shinzen]

why not just refinance your mp3? You could probably get the payments dropped pretty significantly- my buddy refi'd his integra and saved about 150/month..... food for thought

[gjmoreo]

Originally posted by shaolin
Why you're tired of your car is beyond me.

Thanks for that info ...

It's not that I'm tired of the car itself, but I am tired of the lack of power, I know TURBO is the way to go for that, but it's almost like I could get a "free" turbo, better sound system, a LSD, door stills etc, etc, etc. ALL for a lower monthy payment too.

ya know?

[gjmoreo]

Originally posted by shinzen
why not just refinance your mp3? You could probably get the payments dropped pretty significantly- my buddy refi'd his integra and saved about 150/month..... food for thought

By doing this ... i could possibly save money each month and use that money soley for mods, and still have my car paid of in 3 years? hmmm... who do I go to? A local bank or MAZDA credit?

[shinzen]

Yep- the best deals usually go through credit unions, but even your regular bank could probably help you out- of course it depends on your current interest rate and credit of course, but it could definitely save you some cash... Right now interest rates on car loans are pretty darn good from what I understand- and if you got your car in 01 it was probably before they dropped...

[gjmoreo]

Yeah, i'm @ 7.8 right now and it blows ... My credit is fine ... i should just try ....

[AutoBox]

yeh im finacing 4.5% on my msp for 60 months at 300 bucks a month......i bought my msp not even two weeks ago and already they are a thousand less then i paided, like stated above, someones u gotta suck it up....

[PhreakV]

Mazda credit in my experiences and those of a car financer that I know, sucks, they don't release the titles of cars in a timely manner (i.e. bought my P5 used and they didn't release the title until 7 weeks after I bought it). I don't know how they are about interest rates or refinancing but I would suggest looking to another financial institution...

[Andres]

I understand you can refinance for a rate as low as 3.5 to 4%. Mazda Credit is not that good hooking you up with a nice interest...

The way I see it, I would keep the MP3 lowering payments by refinancing it. That car is going to be pretty unique later on. Then save for a bigger down payment on your next car, which by that time may be a Mazda6 AWD ( :rolleyes: ) or a nice 2nd hand EVO or STi...
From what you say by the MSP being basically a nice deal/package, I think you may be bored later on by driving the same car interior for more than 6 years if you switch from MP3 to MSP. I would target the real car of my dreams... ;)

Just my 0.02
Later,
Andrés.:p

[nate0123]

Originally posted by Andres
I understand you can refinance for a rate as low as 3.5 to 4%. Mazda Credit is not that good hooking you up with a nice interest...Maybe I got lucky (uhm)

Mazda gave me 0% for 60 months, no cosigner, and I was 20 at the time.

[YuYuRena]

what do you want to do with the mp3? do you want to part with it If you want a new car is feel for how much money you can get for your mp3 (considering you talked about trading it in or selling it) and calculate how much extra this is going to cost you. MSP is nice but you have most of what we have except a turbo and few other comestic things.

If you want both, I say go all motor with your mp3 and make it a track car, hehe perfect for running around circuits and stuff. And you have a daily driver as possibly msp or something else. but 3 yrs to go is still a while for payment to pay it off.

Mazda gave you the 0% apr I think is b/c of reading your info you bought a Protege ES. That's not applicable for Mazdaspeed. If you want to refinanice ask around, bank and credit union. See if you can get home equity loans, tax write off benefit, but you need a home, or a co-signor who owns a home, i.e. parents :p .

[gjmoreo]

Originally posted by Andres
I understand you can refinance for a rate as low as 3.5 to 4%. Mazda Credit is not that good hooking you up with a nice interest...

The way I see it, I would keep the MP3 lowering payments by refinancing it. That car is going to be pretty unique later on. Then save for a bigger down payment on your next car, which by that time may be a Mazda6 AWD ( :rolleyes: ) or a nice 2nd hand EVO or STi...
From what you say by the MSP being basically a nice deal/package, I think you may be bored later on by driving the same car interior for more than 6 years if you switch from MP3 to MSP. I would target the real car of my dreams... ;)

Just my 0.02
Later,
Andrés.:p

Yeah, If i can get a lower payment I may just do that ... I'm not sure how much the bank would reduce my rate.

[gjmoreo]

Originally posted by nate0123
Maybe I got lucky (uhm)

Mazda gave me 0% for 60 months, no cosigner, and I was 20 at the time.

0% for 60 months! wow .. i have never seen a deal like that.

I have seen 0% for 3 years though.

[gjmoreo]

bump

[shinzen]

Another thought for you is to refi at the lower rate on a shorter term, keep your payments the same, but pay it off in 1 or 2 years instead of three..... call the banks!! Save some money!

[gjmoreo]

true, true ...

So everyone seems to agree with the fact that I should just keep it and put more money into it?

If I go turbo I will need .., exhaust, motor mounts, LSD, clutch, THE TURBO! etc.

[gjmoreo]

still looking @ 3500.00 easily after all that's done.

[BinaryRotary]

You can get 0 for 60 if you give up the rebate.

[hayula]

think of all the $$ you blow on essentially useless stuff (cds, smokes etc) what's the big deal with another 3 bux a day. enjoy the car!

[gjmoreo]

?? 3 bux a day ??

[daperspeed]

DSM
as a drag/fast car.
The money you'd lose trading for a MSP will be more than the cost of a used 1G DSM, getting it into the mid 12's and paying for MANY good dinners celebrating smoking LS1's/EVO's/STi's.
:)

My next car will be 1 of those.

keep the MP3 as a daily driver.

BTW--which handles better an MP3 or MSP???
Do you know?

[gjmoreo]

I'd say both the same, or maybe the MSP 51% and the Mp3 49%
The MSP is supposed to have a little stiffer shocks, the shocks and springs are the same as the Mp3 (tokico, Racing beat etc.)

[Inspekdah]

im only 20 and i wanted the loan in my name and i got a high ass APR, they made up for it by offering me $3000 for a 95 Eclipse on its 2nd engine with 90k on it, electronics falling out under the steering wheel, and 4 horrible alloys/tires and the car plain ran HORRIBLY. I would have felt guilty selling that to someone who was in my position 2 years younger (thats when I bought it (18))...

Like I said though I got a high ass APR around 8.2%, partly because I went with 6 yr financing over 5 (save 40 bucks... figure I need it now while in school full time but can easily afford when im out for an extra year and probably would try to pay it off earlier...

How can I re-finance, it was a Mazda/Ford dealership and I financed through one of their Ford banks... when I turn 21 and get out of college my credit should be even better... Thanks for any information. I figured I signed a ammortized loan and I'm locked into paying that interested for the term of the loan.

I'm a finance major too, I should know this stuff :confused:

[Newf]

I was in the same boat......take a guess what I did

All in all, my payments went up about 20 bucks., my insurance about 3 bucks. Canadian remember. It Was a lot cheaper then adding a turbo myself, and now my warranty is new again.

[gjmoreo]

newf, you kept the mp3 though right?

[gjmoreo]

RIGHT?

[rktktpaul]

By the looks of his sig, I'd say nope - MP3 gone!

[LaserBlue]

Keep the mp3. Refinance it for a lower payment. Dont mod it. Keep it until published trade in value is at least 2500 more than your payoff. Sell it. Move on to the next great thing.

Debt is worse than Syphilis AIDS herpes and gonorrhea combined and it sounds like your thinking of taking on a ton.

[gjmoreo]

well even if I did trade it in on a MSP I would not be in a "ton" of debt. How long do you think that it woudl take to get the value of my ride up above trade-in value?

[LaserBlue]

I dont know what your payoff is.....hypothetically let say trade in on the mp3 is 10k...... then ideally you would owe 7500. Then private sell it and take the cash and put it down on what you want. Right now if your upside down and you trade it in they will just pack the amount you are upside down ontop of your new payment.

[gjmoreo]

yup, that's how it goes ... I know this ... I need to get a quote of my payoff though I have no idea.

what are u driving?

[LaserBlue]

Originally posted by gjmoreo
yup, that's how it goes ... I know this ... I need to get a quote of my payoff though I have no idea.

what are u driving?

3.5 laser blue p5

I love the car but its been sad watching the value fly down even though I got the 0% financing.

[gjmoreo]

yeah, you are goinna get spanked by the 3 when it comes out.

(value wise of course ;))