Need Help Quick!.....Should I trade???

[round00]

Dude, they are lying to you when they say the $500 cash back thing is going to expire. They never "expire."

Salespersons are always lying to you, doing real "quick' math to make you think they are giving you this really good deal that is not going to last.

On a new car, in Jan/February, it is probably not a good deal, and if it is, it is probably going to last.

You are sounding like a sucker. Take your time and think about it, and do the math yourself. If you can't do the math yourself (or understand that trading your car, unless something is wrong with it, is always a bad deal), you should take the time to learn this stuff before buying a car.

I'm not trying to argue with you, I just hate salespersons, and hate to see regular people get screwed by them.

Knowledge is power.

P.S. - if you want a stick, you can get a new P5 stick for nearly nothing right now, given you like the P5. The dealer near me still has four or five of them. Do some internet searches, and you'll find them.

 

[webster]

More specifics of the deal are needed to tell if it is a good deal or not.

What is you payoff amount on your current loan?

What is the MSRP of the 3 in question?


Here is what I would do. Check ebaymotors to see what P5's like yours are selling for. Say they are going for $7K and you have a $9K payoff. Take the difference and add/subtract, depending on above, to the Emunds TMV price for the new 3. Now add TT&L to this and see what the the monthly cost would be at 3.9%. If this number is less than the dealer's 'deal' then it isn't a good deal. If it is more, then the deal is a good one.

BTW, I doubt anyone here could sell their P5 for anywhere close to what they owe on it.

 

[stdntDrvr]

you people really should learn about the dealer's trickery (is that a word)

he probably isn't getting that great of a deal...they're probably "allowing" him the payoff of his 5...which means they took the mark-up of the 3...and added it to his payoff to make it appear that he's getting more for his trade than he really is. been there, done that...to several people. i would wait a year...that way they can get all the problems worked out...and he can buy the '03 model year for a better deal. with it being a new model...there isn't as much rebate or dealer cash on it...but if you wait til '05s hit...you have a few thousand you can get.

 

[johnnyB5646]

Did you get the car?

 

[irishthugs]

and the 500 thing ends march 1st. and before that the old 500 dollar one ended january 1st but they just kept it going

 

[zmepro]

the only reason i say trade is because then you can get a 5spd

 

[taylor5]

did I get it?

No, not yet,

we just got done with a winter storm and the dealer was closed for 2 business days. Good thing! I just did the calculations that "Webster" told me to do on Edmunds.com and realized they are shafting me some ( although not bad). But still some. Did the same thing on the "MazdaUSA" website and the numbers backed up what Edmonds said.

Now those calculations do not include the "dock fee" which is bull.... in my opinion or license. But I dont care, they can come down a little more if they want the sale.

Otherwise, I will just live with the chance of the a/c and auto trans screwing up, although it seems to be shifting fine here in the last few thousand miles. The a/c?....wont know till my next "long" trip next summer. The bucking ride, yuck,,,,my main gripe I will just have to suck up and accept.....

 

[stdntDrvr]

a little info on a "doc fee"

the mazda store i worked at was $299...the dealership i'm at now is only $129...

yeah, the fee itself seems like bulls***...but that helps to pay for the "behind the scenes" people...power bills...phone bills...etc...don't don't worry about a little doc fee...it's there for a reason...hell, i worked at the mazda store when i bought my p5 and still had to pay it!

if you want a good price...get someone on here that works for a dealership (like myself) to look up what you're car is worth...tell me what options are on the 3 you're looking at, what your payoff is, what your tax rate is...and the dealer's dock fee...and i'll give you a good price

 

[Little Beavis]

TRADE!

Everyone is right about the losing money and being better off if you keep it and so on. . .but the American dream is to have what you want and the debt to match.

Selling on your own is a headache and a pain in the butt, plus it takes time. You'll save on taxes with the trade, which helps to offset some of the cost difference.

If you think you'll be happy in the 3 or just happier. . .then by all means do it. . .it will save you money and make you happier! Does it get any better than that? I don't think so (yes you will have payments for 2 years more. . .whoop, di do) I can't remember the last time I didn't have a car payment!

Party on and boot the P5 in the arse!

 

[EXA4DRIVER]

A few questions for you:

1) What is your pay off amount on the P5?

2) How much is the dealer giving you for trade in?

3) How much are they selling you the 3 for? (It is very easy to get this car for invoice less any rebates)

 

[sgryzko]

Go for it and trade. The 3 is great and its cheaper.

 

[jaman]

don't people ever want to pay off their cars? when i bought my 2003 P5 i took a 3-yr. loan at 0.9%. i've been paying it off for almost a year and can't wait till its all paid off. i mean an extra $650/month in my pocket won't hurt. so my advice is to suck it up and enjoy what you have.

however, from your posts it seems like you are expecting your car to break any time now, in that case perhaps owning cars is not for you. just lease the MZ3 instead!!!

 

[taylor5]

what I got

Ok Topher and EXA4Driver,

My P5, 26,000 miles, Sunroof and Automatic, Owe 11,300, they are allowing $10,100. I currently have a 6.7% finance rate

the 3 has Sunroof and 6 CD pkg, with the upside down problem, the out the door price is around 20k. They will give me 3.9 finance rate.

I found some interesting details on Edmonds.com with the cost calculator as well as Mazdausa.com cost calculator which may make me bag the whole deal.......

And just suck it up and pray the car remains trouble-free once warranty is up in November 04.......

Tell me your thoughts......

 

[webster]

It would really help to provide the selling price of the car itself and NOT the OTD amount since states vary dramatically when it comes to TT&L fees.

I went to the NC DMV site and found there is a 3% highway use tax (calculated on sale price - trade), $35 title fee, and $20 for a license. I also found this gem that made me laugh out loud here at work: "Pig cookers are not titled or licensed unless transporting property (including the pig.)" . This is a cut and paste directly from the states website and probably one of the funniest things I have seen in over a year...

Anyway, the selling price of the vehicle should be about $17,900 according to Edmunds TMV.

The trade differential is $1,200.

The tax is only going to be calculated on $7.8K. So 3% of this is only $234.

Now let's add everything up... $17,900 + 1,200 + 234 + 35 + 20 = $19,389. I think I remember you mentioning a $500 disount of some sort so this would bring it down to $18,900.

Why is this number some $1,100 less than the dealers OTD. Simple, he had to make up for the VERY generous trade allowance quoted.

However, the deal in and of itself is still not bad. Let's consider you try to sell the car on your own and then go to buy the 3. The absolute best you are going to get for it is $9K.

So, here's the math for that scenario...17,900 + 2,300 (11.3 - 9)+ 537 (tax on 17.9) + 35 + 20 = $20,792. Subract the $500 to get to $20,292.

Not only is this ~ $400 more than your dealer's quote, but you are going to have to find a way to cover that $2,300 loss on your current car up front unless you can find a way to roll it into the new loan.

In summary, if you are just dying to get a 3 then do it all through the dealer since his deal is MUCH better (not to mention easier) than what you can do on your own (unless you find a sucker willing to pay WELL above market value for your car). I gotta admit, that it is a rare thing when a dealer's deal is better than what you can do on your own.

One last thing...You might ask why the dealer inflated the trade in value. It would be hard to convince a buyer to 'bite' if they saw the wash they were taking on their old car. Much easier just to keep the new car at MSRP and add little things like DOC fees to recoup this.

Hope all this makes sense...

 

[stdntDrvr]

yep...webster's right!

 

[P5bob]

The only reason I would do it is if you think the tranny and A/C is gonna be a problem after the warranty is up. I went from a 5 speen acura to an auto P5 (the future wife doesn't like 5 speed)
and when I bought the P5 (used, it's 02) the next day the dealer got the 3. I sat in it and it's HOT!! I think I may trade in a couple of yrs.

 

[stdntDrvr]

i think the 5 is a better looking car IMO...the rear end of the 3 hatchback looks like the front of an airplane or something.

 

[P5bob]

The 3 is ok, but the basic rims are butt ugly, you have to get the sport package

 

[pingdum]

My uneducated opinion is that you have to think of all the intangible variables. Sure you'll get a better deal in November, sure you'll get a better price if you sell yourself (although some people on this board have mentioned some really good trade in deals), but how much is driving a car that you aren't happy in worth? The extra warranty time is worth a few grand and so is the savings on insurance. I bought the 5 in July 2002, if I had waited until November 03 I would have saved a couple grand, but to me that time with the beast is priceless.
To make a long story longer, I say if it is what you want and you can handle the extra 2 years of payments then go for it.

 

[pingdum]

The 3 is ok, but the basic rims are butt ugly, you have to get the sport package

I think the 5 door only comes with a sport package.