Trade-Up? 2021 CX-5 or 2023 CX-5 (or CX-50)?

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2018 CX-5 Sport
I plan to wait for the 2035 model. That is unless my car gets wrecked or turns out to have too many issues in its old age. At the current rate I drive it, maybe it will last 20, 25 years.
 
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Phoenix
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2020 CX5 signature
For some people net cost is a consideration also. So if in two years the 2023 cost is $1,000 more than it is now (+ $500 per year seems typical), your car might be worth $3,000 less when you sell it in 2 years.
 

CarpeDiem

Under Pressure
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Superstitions
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2021 Carbon T
Mazda considers it more than just a “mid-model update” regardless of opinion. Pre-2017 CXs were given the model designation KE. 2017 on are KF models. Seems pretty definitive to me...
 
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Florida
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2021 CX5 Signature
Remember Mazda is interested in moving its vehicles into the luxury group. New inline 6 cylinder engines are not cheap. Don’t be surprised if significant changes are coming in vehicle size and design, along with move luxury equipment. All that adds costs for our CX5. I would suspect costs per redesigned vehicles could jump several thousand dollars.
 
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CX5 GT
Yep. the new 2021 cx5 signature is already offered for near 40k. (not counting discounts). 3-4yrs ago the top range was 30k. Imagine what the next few years top model price would be. The problem I see is that the dealership experience is not luxury range and quality/warranty may be ok but not yet up to what it should be. I think what they plan to do is up the price then build it cheaper in US and eat the profit margin. :)
 
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Ottawa, Ontario
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17 Mazda 6 GT
Regarding the Subaru, you at a crossroads regarding it's trade in value. It's a tough decision to make at this point whether to keep it or not.
Another two years and 20,000 miles will devalue it quite a bit.
Dealers will not put an older higher mileage vehicle in their used car lot. They'll wholesale it out instead, which means they will lowball you on the value.
I'm at the same stage with my Mazda. I'm seriously considering trading it up now, before the depreciation accelerates. Either that or I keep it for ten years until it's worth nothing. Tough decisions.
 
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South Carolina
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12 MZ5 13 CX-5
A couple of thoughts:

#1: is there anything wrong with your present car? If there are no issues, then why do you want to change?

#2: never trade your car in, always sell it private party. When you trade it in, you are leaving thousands of dollars on the table. So what if it takes a month to sell? If someone said to you: hey, if you simply have the patience, I'll give you $3000. Who in their right mind wouldn't do that?

#3: you're paying cash for the new car, right? If not, DO NOT do the deal. Millionaires don't finance things that are guaranteed to lose value. You want to be a millionaire someday, right? Then you have to start acting like one today. Because lets face it: a million dollars truly isn't that much money in 2020. Sure, you can retire on it, but you won't be rolling in cash by any means, especially when a house can easily cost $250k or more. Depending on where you live, WAY more.
 
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2019 CX-5 Signature
A couple of thoughts:

#1: is there anything wrong with your present car? If there are no issues, then why do you want to change?

#2: never trade your car in, always sell it private party. When you trade it in, you are leaving thousands of dollars on the table. So what if it takes a month to sell? If someone said to you: hey, if you simply have the patience, I'll give you $3000. Who in their right mind wouldn't do that?

#3: you're paying cash for the new car, right? If not, DO NOT do the deal. Millionaires don't finance things that are guaranteed to lose value. You want to be a millionaire someday, right? Then you have to start acting like one today. Because lets face it: a million dollars truly isn't that much money in 2020. Sure, you can retire on it, but you won't be rolling in cash by any means, especially when a house can easily cost $250k or more. Depending on where you live, WAY more.

This info is so out of date for the current times. I'll bypass #1, since people are free to purchase things that make them happy.

2: I just went through this with my 2013 Lexus. I wasn't even looking to get rid of it, but I happened to check out Carvana, as I do from time to time. They gave me an offer of $22k. That is about half of what I paid new 8 years ago. I scoured the internet for private sales and couldn't find anything even close to that high. Besides, private sales for that kind of money are not something that should be handled by people not familiar with the process. Trade-in value was around $16k, so I sold it without having anything in mind to replace it with.

3: Interest rates are at historical lows. You would be stupid to shell out $40k cash for a vehicle, when you can invest it and make way more than the going purchase rates being offered. People with high wealth rarely pay cash for cars, they usually lease.
 
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2021 CX-9 Sig
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2014 CX-5 GT
This info is so out of date for the current times. I'll bypass #1, since people are free to purchase things that make them happy.

2: I just went through this with my 2013 Lexus. I wasn't even looking to get rid of it, but I happened to check out Carvana, as I do from time to time. They gave me an offer of $22k. That is about half of what I paid new 8 years ago. I scoured the internet for private sales and couldn't find anything even close to that high. Besides, private sales for that kind of money are not something that should be handled by people not familiar with the process. Trade-in value was around $16k, so I sold it without having anything in mind to replace it with.

3: Interest rates are at historical lows. You would be stupid to shell out $40k cash for a vehicle, when you can invest it and make way more than the going purchase rates being offered. People with high wealth rarely pay cash for cars, they usually lease.

3. Yes, you can get a new car at either 0.0% or 0.99% without much work. Heck, even at 1.5%, it is a deal as most most funds right now are making 5-10% annually.
 
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Ottawa, Ontario
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17 Mazda 6 GT
#2: What you get for your trade vs selling privately is different for each situation.
It starts with what you have as a trade/sell. Some cars are valued lower than others simply because they are not desirable cars. Sometimes it's best just to accept the trade offer because selling privately could be a real hassle.
Trade value at dealerships is always negotiable too. Don't accept the first lowball offer.
Also, don't start your negotiations on the price of the new car with your trade in.
Start by getting the best price you can on the car first, THEN introduce your car for trade.

#3. Interest rates are indeed very attractive right now. Trouble is, it works both ways. You won't make much money squirrelling your cash away at the bank. Unless you are an investment guru and are comfortable taking risks with your cash, then you won't get much return on your investments.
Keep in mind too that 0% is never actually 0%. Somewhere in the equation, the dealer or the bank will get their pound of flesh. No-one gives you money for free.

Good luck.
 
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2019 CX-5 GTR
....
Keep in mind too that 0% is never actually 0%. Somewhere in the equation, the dealer or the bank will get their pound of flesh. No-one gives you money for free.

Good luck.

Yes. Ever notice how you can either get 0% finance OR a certain amount of rebate? The rebate value is the cost of the "free" money to the manufacture. Of course the dealer no matter what you pay for a new vehicle will make a profit from the sale.
 
A couple of thoughts:

#1: is there anything wrong with your present car? If there are no issues, then why do you want to change?

#2: never trade your car in, always sell it private party. When you trade it in, you are leaving thousands of dollars on the table. So what if it takes a month to sell? If someone said to you: hey, if you simply have the patience, I'll give you $3000. Who in their right mind wouldn't do that?

#3: you're paying cash for the new car, right? If not, DO NOT do the deal. Millionaires don't finance things that are guaranteed to lose value. You want to be a millionaire someday, right? Then you have to start acting like one today. Because lets face it: a million dollars truly isn't that much money in 2020. Sure, you can retire on it, but you won't be rolling in cash by any means, especially when a house can easily cost $250k or more. Depending on where you live, WAY more.
Yes, never finance something that is decreasing in value every day that you own it. The only thing to finance is a house.
 
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2021 CX-9 Sig
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2014 CX-5 GT
#3. Interest rates are indeed very attractive right now. Trouble is, it works both ways. You won't make much money squirrelling your cash away at the bank. Unless you are an investment guru and are comfortable taking risks with your cash, then you won't get much return on your investments.
Keep in mind too that 0% is never actually 0%. Somewhere in the equation, the dealer or the bank will get their pound of flesh. No-one gives you money for free.
The amount you pay on a $40,000 2% loan over a 60 month term is $2,000. Most mutual funds right now - just do something that invests in the S&P - are increasing year to year. That 40K five years ago just in the S&P would have doubled. Genius is not required. Just saying.
 
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2018 AWD GT Premium Red/Black
The amount you pay on a $40,000 2% loan over a 60 month term is $2,000. Most mutual funds right now - just do something that invests in the S&P - are increasing year to year. That 40K five years ago just in the S&P would have doubled. Genius is not required. Just saying.
The S&P 500 was down something like 40% at one point last year. We happen to have been in a bull market, but you can't count on that.

I sympathize with the gyst of the, don't buy it if you can't pay for it, argument - as well as selling to private parties over trade-in. But I've also driven my cars into the ground and a used one has never been worth more than a few thousand. So haven't had to sweat managing a 10s of thousands transaction with some stranger.

But another consideration for trade-in vs. sale to private party is, at least in WA state, the car purchase is taxed on the net sale price - after trade-in. So a $25K trade-in could take about $2K off of the taxes.

It seems a patently unfair way to tax. One should be able to deduct the private sale proceeds, if dealers get to benefit from customers not getting taxed on trade-in.