big hit in depreciation

Super Unique

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2008.5 Mazdaspeed 3 Black Mica
I bought my 2008.5 speed3 last year this month. Well, today out of curiosity, I ran the numbers through kelly blue book just to see how much of a hit I have taken in value the first year. OUCH!

paid 23k, today in "excellent" condition worth only 17k

Thats a not very trivial 6k depreciation the first year. Granted, I have no intention of trading anytime in the next 6 years so it doesn't matter to me, and the residual will be minimal at best.
 
sounds like you bought it new?
that's just the way it goes when you buy a brand new car off the lot...
i switch cars pretty regularly, but it's almost always one used car to another. i usually lose very little/nothing monetarily in the transition.
 
Welcome to the world of buying new cars. You pretty much lost that 6K the moment you drove it off the lot.
 
Not to mention the economy is s*** right now...hell you can get a slightly used 2008 sti for like 26k now...
 
It takes a couple years atleast, until your depreciation will start to level off a little. As long as you can keep the mileage in decent shape, you should be able to stabilize within 3 years or so, especially when people revolt against the 2010 MS3 and start buyin up older MS3's. Just like when the 08 STI's came out, you could NOT find a sedan 07/06 STI anywhere and people were paying top dollar for them.
 
The fist year is a b**** for depreciation, after that, it will slow down a lot. Don't forget that $23,000 also includes about $1500 of taxes.
 
which value did you use? my 2008 normal 3 GT which i paid $20,xxx + TTL for 13 months ago is listed at $16,075 in excellent condition as a trade in, $18,360 private party, and $20,510 (i think that's about what i paid new so that's ridiculous) at a dealer according to KBB.

does the normal 3 depreciate less than the MS3?


the first year is always the worst. after that it still goes down but only a little every year
 
oh yea and from my point of view i think depreciation is great on this thing if i only lost $4k in the first year on the trade in value, $2k on private party
 
private party value for my car is $21,125, trade-in value is $18,900 (wiggle)

bought car from a friend for $18k. (breakn)
 
this is one reason why I buy newly used cars(other reason is financing can be ridiculous on cars 3 years or older). I look around for cars with around 5k-15k miles on them, and negotiate starting at the kbb price as a rip off considering they bought the car for a couple thousand less. i.e. an 08 ms3 retails for $22k from what a dealer should sell max, but if someone trades the car in the max they should expect is $17.5k. so I would go in and target the good price(which is $16.6k) as the most i'll pay for because the dealer always have something bad to say about your used car, even if it's in great shape, so I b.s. them back and say your car isn't excellent either and look for small evidence of it, such as small rock chips and stuff no one can actually prevent or find something ridiculously small and be like see look. I've found this to work really well, and it's worked great for me twice. I got my 02 protege for $15k out the door fully loaded with a sticker price of $19.1k in 03 new, I got the 02 spec v in 05 for $11k even with an $2200 extended warranty used with 36k miles and they were asking $13.5 for the car, and the two cars before that were given to me. I plan on doing the samething with getting an ms3, but I'm going to low ball them tremendously because of the economy. I'm shooting for a used 08.5 or 09 sometime around august, but one of the dealers near my house still have 6 new speed3's on the lot, and they've been there for at least 7 months now that I know of considering the 08.5s have been there for over a year now. 4 of them are 09's. My advice is to print that stuff up on kbb and go from there, but don't show them anything until you get what you want, and be willing to go some where else too.
 
I don't think the MS3 depreciates to badly. Compare it with the Civic Si which is considered to have very good resale value, a loaded '07 Si with lower miles will go for around $15,000 at the dealer.
 
I bought my 2008.5 speed3 last year this month. Well, today out of curiosity, I ran the numbers through kelly blue book just to see how much of a hit I have taken in value the first year. OUCH!

paid 23k, today in "excellent" condition worth only 17k

Thats a not very trivial 6k depreciation the first year. Granted, I have no intention of trading anytime in the next 6 years so it doesn't matter to me, and the residual will be minimal at best.

KBB doesn't accurately take into account limited production vehicles. The demand for an MS3 should be higher than an average car because of the limited numbers.

That isn't to say your car didn't lose value because it definitely did, but I wouldn't put too much stock in the KBB value to be 100% accurate.
 
KBB doesn't accurately take into account limited production vehicles. The demand for an MS3 should be higher than an average car because of the limited numbers.

That isn't to say your car didn't lose value because it definitely did, but I wouldn't put too much stock in the KBB value to be 100% accurate.

I hate to rain on your parade but the ms3 isnt exactly a collector car. I interpret mazda saying limited edition to mean limited to the number they can actually sell like all other mazdaspeed vehicles. They make a good amount of them and plenty change hands so they have a decent size sample to pull from. Its never spot on for any car because so much is open to negotiation but itll put you in the ballpark
 
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I hate to rain on your parade but the ms3 isnt exactly a collector car. I interpret mazda saying limited edition to mean limited to the number they can actually sell like all other mazdaspeed vehicles. They make a good amount of them and plenty change hands so they have a decent size sample to pull from. Its never spot on for any car because so much is open to negotiation but itll put you in the ballpark

Your reading comprehension sucks, when did I say it was a collector's car?

I said KBB isn't 100% accurate and doesn't always reflect certain factors of a said car, such as being a limited production run.
 
Your reading comprehension sucks, when did I say it was a collector's car?

I said KBB isn't 100% accurate and doesn't always reflect certain factors of a said car, such as being a limited production run.

First, no need to get upset that quick.

Second, he never stated that you said it was a "collectors" car. He was saying that while it is a "limited production" car, it isn't SO limited that it could be considered a collectors car so therefor, any retained value of it based on it being a limited production car would be minimal at best.
 
Your reading comprehension sucks, when did I say it was a collector's car?

I said KBB isn't 100% accurate and doesn't always reflect certain factors of a said car, such as being a limited production run.

What im saying is being limited production only has a bearing on price if it is a collector car. They make more ms3s than many other non limited edition cars. Limited production run in mazdaspeed cars is just a marketing term
 
You guys should go price used CX7s. I bought my 2007 CX7 for ~25k and got a "decent" deal for the time. It's worth maybe 15k trade-in right now at 1.5 years old and only 8500 miles.

That's a depreciation hit lol.

The car market sucks right now. You can get 1 year old used Lexus in my area for 10-15k off the new MSRP.
 
I owe substantially less on my car than it is currently worth...(dunno)

You should never buy a car without putting at least ~20% down.
 

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