Looking to buy a 2003 Protege5, need some pricing advice and potential problems.

[ccrunner2011]

Calling all Protege5 gurus!

I'm looking at buying my first real car (college student) and I've always enjoyed the style and space that a hatchback offered. I like MS3 but I can't currently afford one.


So, I found a 2003 Protege5 with 109K on the odo. Silver in color, automatic (disappointing, but not a sale breaker), clean interior and exterior for the most part (almost 9 years old).

THE GOOD:
lower mileage
local car - no rust (I'm in NC so not much salt)
Interior is in good shape
exterior is in decent shape
Engine runs smooth and tranny shift smooth
all accessories work
no accidents on carfax

THE BAD:
No proof of timing belt change - due at 105000 miles (slight oil leak on valve cover which further proves it hasn't been done)
needs brakes within the next 5-10K miles ~35%
needs at least 2 tires (85-100$ a piece) - would probably need all 4 replaced in less than 1 year
cv joint or a bearing is failing
no maintenance records

I've tallied up the maintenance costs and it's looking like around 800$ in parts to get this car to what I consider excellent running condition. The guy is asking 5990, my dad's saying with what I need I should offer around 4000 and not go above 4400. Yes, no? trade in value of this car ranged from 2800-3600 so he'd be making money still...cuz i doubt he gave the people more then 3000 for it.

I'm a mechanic and so is my dad so we'd do all the work, just time would be lost.

** NOTE: He said this car was a trade in, and he hasn't done anything to the car other than wash/vaccum. Also has had the car for about a month no with little interest.**


Thanks ahead of time!!
-Martin

 

[Jordysoso]

Bring all the problems up to him. Tell him you wouldn't feel comfortable paying more than maybe 5k. Mine was the same scenario come to find out I had bought the car with a dowel pin missing in the motor and a blown head gasket.

 

[hat1018]

I think 5990 is a little high. Even though all of the cars issues except the bearing/cv joint are just basic maitinance items/ normal wear and tear kinda stuff imo I don't think that is enough to lower the price. If the lot has had the car for a month or so with little or no interest I would think that would be reason enough for them to take less. A car that just sits on a lot makes no money and only take up space where a more popular car could go. I would try an offer of around 4500 and see where it takes you. Good luck.

 

[ccrunner2011]

Much appreciated, I understand that they are maintenance/wear and tear. But 6000$ is both way above nada and edmounds. Cousin's a dealer and he said he wouldn't offer anything above 4600-4800. I guess I'll offer 4300 and go from there...updates to come!

It's a nice little car, fun to drive, roomy, from what I've been hearing reliable too. zoom zoom

 

[paper1122]

I think your offer range is right on target. Good luck!

 

[Jordysoso]

Good luck! Watch some pawn stars to be a pro barterer! Lol

 

[hat1018]

What I found in my research for my P5 was between $6-6500 KBB resale. Trade in at around $33-3800. IIRC. At the end of the day, if you like the car, and are comfortable in the fact that you can make it mechanically sound I say go for it. I love mine!

 

[ccrunner2011]

What I found in my research for my P5 was between $6-6500 KBB resale. Trade in at around $33-3800. IIRC. At the end of the day, if you like the car, and are comfortable in the fact that you can make it mechanically sound I say go for it. I love mine!

Yeah, KBB is crap sometimes though. I wouldn't mind paying 6000 cash for a protege5 that is top condition, but this one just isn't that. I just want to see his face when I immediately take off 1800$ of his tag...(drinks) anyone want to come? haha

Thanks all! Again, this will be my first car and I basically fell in love with the protege5 the first time I sat in it so I'm set on finding one.

 

[ccrunner2011]

Good luck! Watch some pawn stars to be a pro barterer! Lol

Love that show. I just hope I'm not a chumlee and buy a POS... lol

I'll be straight up with the guy. 900$ in parts to get this car to where it will be good to run for another few years....cost over 2000$ to have it done.

 

[digitalslacker]

I would feel safe offering 4800-5000.

I got mine 3 years ago out the door with tags and everything for 5k with 135k on it.

 

[paper1122]

For a point of reference, I just picked up my 03 with 95k on it. $4k, needed radiator, motor mounts and mirror. I also ended up replacing thermostat, EGR valve, and accy belts. Recent service prior to my purchase included, timing belt, hoses, water pump, plugs, wires, and two new tires. Mine is not in pristine condition though, lots of door dings, and a few tears in the seats.

 

[ccrunner2011]

I would feel safe offering 4800-5000.

I got mine 3 years ago out the door with tags and everything for 5k with 135k on it.

the negotiator, aka my mother, will come with me. she is crazy at getting good deals..again the most I'd personally pay for that car is 4800...anymore, it's not worth buying.

For a point of reference, I just picked up my 03 with 95k on it. $4k, needed radiator, motor mounts and mirror. I also ended up replacing thermostat, EGR valve, and accy belts. Recent service prior to my purchase included, timing belt, hoses, water pump, plugs, wires, and two new tires. Mine is not in pristine condition though, lots of door dings, and a few tears in the seats.

 

[iamthewheelman]

I am in Canada so I know its different, but I just sold my P5 for 6000 with only 84,000kms so thats about 52,000 miles. Interior was mint, and there was only the starting of some rust on the body so I am ditching it for a Speed while I can lol I wouldn't pay much more than 4000 for the one your looking at.