Buy now, or wait?

[speed3wanab3]

Sup, i'm 19yr old college student (with no debt/loans) and really considering buying a Speed3.. I'm working full time right now, but once school starts i'll limit my hours to around 25hrs a week.

So, since this could be my first time buying a brand new car, I have a few questions. First off, is right now a good time to really buy the car, apparently "model year end" prices don't apply for this car. And if it's true that the 08's are coming out, shouldn't that drop the price for this car a little, no? and the big question, when the 08's come out, will the MSRP increase? oh wait, one more, lets say the 08's come out, and I try to buy a 07 form the dealer, how would that effect my loan, or my deal at all? (for example, i hear that when you buy a brand new car you get the best apr, would i not get the best apr if i bought an 07 if the 08's were already out?)

The price is definitely more than I had planned to spend when I started looking for a car, but I feel I could live with the price considering I really like this car. If this price increased for 08, i'd be pretty disappointed.. By the way, if I sell my current car+bike (96 infiniti g20/91 suzuki gs500) i'd throw that down as my 4k down payment.

Point muaa in the right direction!

 

[clos561]

get it(drinks)

 

[speed3wanab3]

So it seems the MSRP for the 08 sport is $22,340 and the MSRP for the 07 sprort is $22,935

Would the dealer give me a really good price on an 07, considering I could just get an 08 for a better price?

There are only 2 sport models in a 150mi radius of me (this is from mazda's inventory function on their website). One is red, and the other is cosmica blue(which there is no way i'd get )

 

[clos561]

u have to ask, im sure something can be done. but since these cars are limited production it may difficult to get a large decrease but they would proly beat the 08 price to move the 07's off the lot

 

[eddienyny]

I know of one instance where an '07 model is selling lower than the MSRP from several months ago... so it seems you could get a better deal buying an end of year '07 instead of waiting for an '08. On the other hand, don't expect clearance sale prices as the model is still limited and a dealer probably won't bend over backwards to find an '07 model if it isn't already on their lot.

The '08 MSRP is identical to the '07 MSRP. Cars dot com has pricing information for both vehicles to compare. You'll also see that there are no differences between both model years.

A brand new car is still a brand new car regardless between an '07 vs. '08 model year. This shouldn't affect your APR.

IMO... if you find an '07 model on a dealer lot that you like... get it. You can probably haggle a little to drop the price knowing that '08s are right around the corner.

 

[WildChild]

If you are looking for the best price on a new MS3 I'd say wait. Unlike the 2007 MS6 which has $3750 or 0% on the hood atm. You are not going to see massive incentives on this car in 07. If you wait til maybe September you might get a better financing deal, and possibily some incentive. Once the 08's and 07's are sharing lot space you should be able to find a deal.

In my case I said screw the waiting and paid full MSRP back in Dec.

 

[daonly1around]

in 02 i bought a protege LX and put 7500 down, it was hard enough making payments going to school full time, i couldn't imagine making it for a car that i would have been about 7K more... i would suggest waiting a year and use the money that you would for a payment, and seeif you can save that much. there is a LOT of fun things that cost money while your at college, and see if you can have an enjoyable lifestyle while at school and save what would be your payment. So if you run into a month where you can't save that amount, you won't blemish your credit rating. But i know how it feels to want a new car and its a hard bug to shake, but you would be much better off waiting, or wait at least until the end of the 08 models and try to have about half to put down.
I'm not trying to tell you what to do, just suggesting, college is a lot of fun and you dont want to miss out on some things because you have to make a car payment.

 

[PirateKitty]

It sounded like it but wasn't really clear...are you buying the car alone?
You say you have no debts or loans, so do you have any credit? Because you are also 19 years old (and I'm guessing Male), have you shopped around for insurance quotes? Being able to afford a car is one thing, but don't forget everything else on top of that: interest, gas, insurance, gas, maintenance, gas, mods, gas... get my drift?

I'm not saying not to buy the car, heck I'm only 20 and I went out and bought my speed3. But I'm also a college grad with a full time job. This isn't my first new car, when I was 18 (in college & working p/t) I got my civic with the help of my mom's credit and insurance. Affording the car wasn't hard but it also wasn't easy especially when the mod itch kicked in.

So, if you are doing everything alone and think you can handle it..GO FOR IT!
If you are getting help from parents or whoever...then you don't need our advice..."Just Do It." You won't regret buying the car...I guarantee it.

 

[Hikaru9]

I have to agree with daonly1around. While having a new car is nice, if it's your first car purchase AND you're a student, making monthly payments for a 23~25k car is no easy feat. Get a reliable and inexpensive used vehicle and build up your credit. I personally never buy a car that exceeds 15% of my income in payments. Don't let a car be a financial burden when you have so many other things to enjoy at your age. *^_^*

 

[daonly1around]

i wish someone could have told me now what i just told him about 5 years ago...

oh wait, they did, my parents, but whatever you choose, good luck, atleast you know your getting a kick ass car that will last a long time, as long as you take car of it.