Dealer wants to buy back my '13 cx-5 and put me into a '16.5...Thoughts?

Migkaspar

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2016 Mazda Cx-5 Touring w/ tech package and moon roof
Ok, So here's the deal. My dealer, whom I purchased my 2013 Mazda cx-5 from back in 2013, has been hounding me for the last couple weeks about wanting to buy it back, because they are in desperate need of CPO used Mazda's. I've enjoyed owning my '13 cx-5 with its 2.0L and have gotten around 28-29 mpgs out of it. I live in the mountains of SWPA. We went and test drove the 2016's and other than the larger engine and the upgrades to the infotainment, its essentially the same car.

As for the details. The dealer is offering me about $1,700 more than what I still owe on the '13 cx-5 as a trade-in, and putting me into a '16.5 with all the same accessories, for essentially the same interest rate, at a monthly payment that is $25.00 less than what I am currently paying now...

Im not sure if this is a good deal or not. I'm trying to weigh the pro's and con's....
3 yr newer car vs 3 additional years of payments....

Anyone have past experience similar to this? Thoughts welcome?
 
Without knowing how much you still owe on your 2013, how many miles you have on it and how long your current loan is it's impossible to know what the better choice is.

95% of the time you'd MUCH MUCH better off keeping your current car, but in some rare cases it can make sense to upgrade
 
What's the downside? How long do you plan on keeping the '13? It kind of depends on your financial position but...

IMO, I would take the deal. You get a new car with a lower payment. That also means a new, fresh warranty so you put off worrying about repair bills for those same three years. Like you said it's essentially the same car except for the engine and infotainment upgrades, but those are two big upgrades to me.
 
I have about 32mo left on my current loan and owe just under 14k. The dealer is offering me 15,500 on the trade.
 
I was initially planning on keeping the car for as long as it would drive... I like the idea of being done with car payments is 3 years, instead of would be 6 if I upgraded.
 
I think it is better if you sell this car yourself first, see how much cash you can get first. Also, if I were u, I don't trade in it. I will wait for 2020 for a self driving car or something, usually a car will running no problem within 6 years -8 years without big maintenance or repair.
 
I was initially planning on keeping the car for as long as it would drive... I like the idea of being done with car payments is 3 years, instead of would be 6 if I upgraded.

Your initial plan was good. The dealer wants to make money coming and going on the deal. Its about his profit, not offering you a "good deal". Your best return is last 3 years of ownership. You kept good care of it and maintenance is low, and no car payments. Go back to the dealer when its 6-7 years old.
 
Saving ~$25/mo but extending your payment for three more years?

If you like yours keep it. You need to think about the total cost, not just your monthly payment.

Plus it's not your fault the dealer doesn't have enough used inventory.
 
Your initial plan was good. The dealer wants to make money coming and going on the deal. Its about his profit, not offering you a "good deal". Your best return is last 3 years of ownership. You kept good care of it and maintenance is low, and no car payments. Go back to the dealer when its 6-7 years old.

This. Your dealer exists to make money, not to save you money. Having no payments sooner is way better than extending your payments - and thus extending the interest you are paying.
 
I think you answered in #5 Migkaspar, which is what I would do. I generally get this kind of letter on my last two vehicles when they are about 3 years old. Ed
 
I agree with all that say keep it. You've already taken the big hit for the early years of depreciation, no need to take it again if you're happy with what you have. Pay it off in 3 years, then save the monthly payment you would have paid to get the '16 for the following 3 years and you'll have a nice down payment for your next new Mazda.
 
I used to get the "Due to a higher than expected demand for _________ we're interestd in your vehicle." The best was when i got one of those letters from VW for my 1998 Jetta....in 2008.
 
keep your car! but I just got a 5 mile 2016.5 and its sweet. but in 32 mo you got no car payment!!! keep your car!
 
Like has been stated already, sell the car yourself (usually can get 1-2K over what dealer offers).

The dealer uses these tactics to sound desperate but it is all a sales ploy.
 
Like has been stated already, sell the car yourself (usually can get 1-2K over what dealer offers).

The dealer uses these tactics to sound desperate but it is all a sales ploy.

Mazda dealership on Peachtree in Atlanta offered me $4,000 trade-in value on my 2006 Civic /w 90K miles. I laughed at him.
Bluebook retail was $8900. I sold it for $8400.
 
My wife is on the same boat. 13' 2.0 and the dealer wants to sell us a 16'. Happy with the 13' and we want to keep it and not have any payments on it for a few years.
 
Your initial plan was good. The dealer wants to make money coming and going on the deal. Its about his profit, not offering you a "good deal". Your best return is last 3 years of ownership. You kept good care of it and maintenance is low, and no car payments. Go back to the dealer when its 6-7 years old.

All of this. If the dealership was THAT hard up for used vehicles they'd buy at auction, not offer you some incredible deal. Their aim is to get you on the trade-in or get you on the new car (preferably both), and bend you over as hard as possible with all of the back-end numbers (interest rate, holdback, floor plan etc). They LOVE deals like this where they can bury all kinds of things in the numbers in order to come up with what seems like a sweet monthly payment. Run, don't walk, away.
 
I did my homework before I went to Ford dealer to buy a new Mustang some years ago. I had cash down, and knew exactly how much 4 year payments would be as I had used a computer program to calculate it. When the salesmen handed me a contract, I carefully read it. The payments were $80/mth higher than I had calculated. When I asked him why, he said it was for "insurance that would pay off the car if I died". What BS! There was nothing in the contract about that.

I told him what my payments should be, and if he couldn't write a contract for that amount, I'd get a loan from my bank. He went off in a huff ... and came back with a contract with right amount.

Bottom line is know you numbers before going in. If you sign a contract for inflated payments, you are legally responsible to pay them. Doesn't matter if a crook wrote it up ... you signed it.
 
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As has been stated, they aren't in desperate need of your used Mazda. Dealerships buy from auction houses all the time and usually pay less than what they pay for trade-in's on the same car. As far as whether they are offering you a good deal; without the actual miles, condition etc. of your car in your area this is just an educated guess, but it looks like they are offering you about average trade in book value for your trade.

Money wise, your better off paying off what you have now.
 
Ok, so the vast majority has said keep the '13 for the financial gain. To maybe alter the discussion a tad...has anyone made the jump from the '13 to the '16/'16.5...are there any improvements other than larger motor/horsepower and sport mode? I have no proof or have read anything officially but it would seem that the 2.5L's get less mpgs....

On the test drive the only noticeable difference, again other than the higher rpms in sport and horsepower, was the hill decent assist. Has anyone else noticed or know of any reasons why the '16/'16.5 would be a better vehicle?
 
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