MSP re-sale value

[unwrittenLaw]

If you really hate the car that much then take it in the ass and get something else...otherwise try and enjoy the car and appreciate it for what it is. Sometimes I just want to go to the dealer and trade it in, but then I realize that I still like the MSP more than most cars out there...

 

[spacemonkey]

The worst deprciation happens in the first year...right off the lot. Needless to say you'll probally be loosing alot by trading it in so soon. Last time I checked there wasn't really a book value on our cars....but the insurence company seem to reemberse some MSP owners pretty well.

Whats wrong with the MSP? I like the EVO but I dont think its worth taking a loss on the trade in.

 

[BrianV]

I'd probably trade mine in for another car (EVO, G35c, GTO) if I could get trade-in for what I owe on it ~$15,000.

I love the car but I miss the fine luxuries of my previous Infiniti and Lexus. I also don't feel secure in modding (upping the boost) on this car so I can't make it the little race car I wanted to make it.

I'm going to be patient and hopefully next Summer the trade-in prices will be a bit higher. Unfortunately, trade-in won't factor in that my car has never been redline, has a babied 2,500 miles on it, etc. I could bring in a ragged-out ride and probably get the same as a cherry ride like mine.

In the mean time I'm going to enjoy driving the car like I have (blast to drive). In the Summer, I may join an Auto-X club and rejuvenate my love for the car. We'll see. Anyone trading in now must really hate their car and feel they HAVE to get out of it ASAP.

 

[M=SP^2]

I don't get people trading their cars in so quickly, does this happen with other cars too? What were they expecting Evo performance for under $20 grand?

 

[BrianV]

I don't get people trading their cars in so quickly, does this happen with other cars too? What were they expecting Evo performance for under $20 grand?

I think it's a combination of a couple of things.

1 - Issues like the clunk, squeak, and hesitation were not expected when purchasing a brand new car.

2 - People thought they'd be able to mod it moderately when it appears that it can only be mod'd mildly. If people felt safer about running 12-14 PSI then I think a lot less people would want to part with it. If there was an alternative fuel management system then I think it would renew people's interest in modding the car.

For myself, who has always owned used cars, this was a bit of a disappointment for purchasing a new car. I was very excited about having a warranty, a new car that I wouldn't have to worry about, etc. I've quickly found out that taking my car to the dealer is a serious burden/hassle, the problems I've taken it in for have not completely been fixed after numerous trips (hesitation; flash helped a lot but there's still more hesitation then I'd like).

I thought by owning a new car I was securing myself to trouble-free ownership for a couple of years. Driving the car is still a blast, but if I'm going to have a car payment, I personally would rather pay an extra $200 a month to have something that pleases me in 100% of the aspects. Now most people cannot justify and extra $200 / month payment for a car. I can, as a car payment is not a hefty financial burden for me, and I really enjoy driving and talking abouit cars.

I still stand by saying, if I had $16k to spend on a car, and that's all I had, that without the blink of an eye I'd own an MSP. There's not other new car out there I'd consider as a replacement for less then $29k or so. That's a huge statement in itself. The MSP rocks, and I'm on the fence whether I think I can justify spending the extra money for a car that would make me closer to 100% happy. This is definitely the most enjoyable FWD car I've ever driven; the only FWD car that I don't wish was RWD.

 

[AutoBox]

i enjoy the package i got from my msp....i plan to get a evo or g35 next but for now im gonna keep my car....and about modding...if ur smart and not cheap about how your doin it the motor is good.....i plan to have some mild bolt ons and a lil more boost....i still have plenty of time to enjoy a ton of other cars.

 

[Matthew]

these types of threads piss me off. i know everyone thinks i hate msp owners, but i really dont at all. but s*** like this is ridiculous.

PEOPLE YOU HAVE HAD THE CAR LESS THAN A YEAR YOU ARE GOING TO GET HOSED ON TRADE IN.

some people just kill me. ive never seen so many people try to trade in a car so bad in less than a year, but vehemently defend the car if you bust it out for its shortcomings.

It's a crime that people don't recognize the value on the MSP.

PLEASE, tell me what makes this car so valuable so im not in the dark anymore?
is it...

...the common 2.0l engine that can be found in all proteges?
...the small turbo?
...how about the relatively weak engine that cant be boosted too high?
...the excellant fuel maps?
...the extra body pieces that have a tendency to fall off?
...the outstanding audio setup that constantly dies?
...how about the clunk coming from the same type of suspension problem thats been around in the mazda family for three years?

nah. maybe its just a regular protege and everyone that thinks its the shiznit and worth more than what you paid for it are smoking the fat crack pipe.

granted, its a nice car for the money, but its CHEAP! CHEAP CHEAP CHEAP! the car is sold for what its worth. if the car is sold for 16k its a 16k dollar car. yes you get a nice setup for 16k but its certainly nothing worth doing backflips over. if it was, then you wouldnt have:
1) people constantly complaining about the quality
2) people constantly trying to trade the vehicle in

the only reason 50% of you still have your msp is because the dealers are laughing their ass off when you tell them you want more than what the cars are going for now on trade for a new car, or telling people on the forums or in the classifieds that you want to sell the car for more than you can buy it new. when are you people going to realize that the car is worth what its being sold for?!?! its just like i paid 171 for my athlon xp 1800 and motherboard early last year, and when i resold it i only got 130 shipped. i would be an idiot to think i could get the same price. just because you paid 17k but now its selling for 14k doesnt mean the car is still worth 17k

jesus, sorry for the rant, but im so sick of these type threads all over the place from miseducated and misguided people trying to sell what is a great car if you ask them, but horrible when they mutter under their breath.

either drive the car and suck it up and enjoy it until you get rid of it, or take the huge hit on a trade.

 

[BrianV]

Autobox, yeah the package is awesome. I was driving around today and thought about what I got for under $16k

Mp3 playing Kenwood stereo with sub - Aftermarket comparable = $500+
17" Racing Hart Rims - Aftermarket comparable = $1000+
Raced Tuned Suspension - Aftermarket Comparable = $500+ (mainly sway bars).
Body Kit - Aftermarket comparable = $700+ painted
LSD - Competetor's often charge $500+ for these
Turbo'd engine with intercooler (although could be bigger)
Power windows and mirrors (Dodge only offers two power windows)
Wing - Competition charges for these sometimes.

Really, if you add it up, it's a lot of car for the money in just the little extra's.

 

[BrianV]

While on the trade-in question, has anyone with 'REAL' experience noticed if Mazda dealers will give more for the trade-in then another manufacturer?

Has anyone gone in and thought about trading in for a 6 or RX-8? I've heard that trade-in's are generally higher on cars if you trade them into the same manufacturer.

Just curious.

 

[Matthew]

you would have to trade the car in on a more expensive car to bury the equity. trading the car in on a 6 prolly wont have enough room to bury your negative equity. maybe the 8.

 

[BrianV]

Matthew, I don't quite understand.

Since they're dealing more on the 6's, I'd think that would compensate more against negative equity, then going after an 8 which they're not flexing much on.

You can still get 2003 6's for $5k+ off MSRP.

Can you please explain what you meant by room to bury the equity; excuse my ignorance.

 

[Fatdaddy]

Matthew-I think you just named all the reasons why anyone would be willing to take a huge hit on a trade for the Protege.

 

[cochizzle]

thats a dealer issue, and from what i understand, mazda dealers aren't offering much for msps either. the place where i bought my p5 from refused to sell/trade-in msps because of the problems they had with the initial group of cars they got. dealerships dont want to deal with a bunch of damn problems when they get a car that only has 10,000 or less miles on it. the msp was a limited edition run, and honestly a solid, but far inadequate test trial. youre going to get reamed on the trade-in because the msp is buggy, and nobody wants a buggy turboed car.
Also, a lot of turboed cars get less than expected resell or trade-in because its pretty damn hard to convince someone that you didnt rag the s*** out of your turbo, even if you didnt. Especially when you buy the only turboed car mazda sells. Be realistic, you should have thought about this before you bought it. Its common sense.

 

[Matthew]

Matthew, I don't quite understand.

Since they're dealing more on the 6's, I'd think that would compensate more against negative equity, then going after an 8 which they're not flexing much on.

You can still get 2003 6's for $5k+ off MSRP.

Can you please explain what you meant by room to bury the equity; excuse my ignorance.

Yes no problem its very simple

Its not that theyre not willing to deal or anything, its the lack of money made on new cars. i know everyone has a slight to major misconception on the markup on new cars. see, i can go to 8 different dealerships and ask for a blue msp, so they must stay competetive, and therefore BARELY mark up the cost of the vehicle. on the other hand i can want a yellow mp3 and only one used dealership may have it within a 300 mile radius with the options im looking for, which is why used cars have more of a markup.

back on topic .... anyways, the point im making is, the bank will only finance a vehicle a slight if nil amount over their book value. so, if i bought a msp at 17k and one year later still owe 17k (because ive only paid off taxes, and other fees for example), and the vehicle is worth say 13k (if youre lucky), i have a 3k dollar negative equity.

now bear in mind im using just "example" numbers...say i have the above example msp and im trying to trade on a 6...say the sticker is 20k dollars, and they have a 2k dollar profit. i am 4k dollars upside down, plus tax title and license on the new car, so about 5k. now the dealership is asking the bank to finance a mazda 6 valued at 20k for 25k. the bank will never do something like that without a lot of money down, or some other finangling (up to the dealership, but rarely happens), because if you total the car, then there is a huge gap....

HOWEVER...the more expensive the newer vehicle, the more money you have to work with (when i sold chevys we made MAYBE a grand on a cavalier, but over 8 grand on a corvette)...so being that the rx8 is a lot more expensive, they may have say 4-5k profit in the vehicle and therefore able to bury negative equity easier.

this isnt always the case because of many different factors (rebates, dealer kickbacks, dealer demos, etc etc), but its a very good rule of thumb. thats why i was first financed i was paying 405 per month for this 16k dollar car, because i was almost 3k dollars negative on my old car, and i didnt put much down. they almost didnt get me financed because the bank didnt want to finance that much over the value of a new p5, so i had to come up with cash within 30 days for the TTL, they couldnt factor it in. i have since refinanced at a lower interest rate and made extra payments so i didnt have to refinance as much, so now i pay 318. anyways, any more questions i would be glad to help out seeing as though i worked selling cars for quite awhile.

 

[yashooa]

...the common 2.0l engine that can be found in all proteges?
...the small turbo?
...how about the relatively weak engine that cant be boosted too high?
...the excellant fuel maps?
...the extra body pieces that have a tendency to fall off?
...the outstanding audio setup that constantly dies?
...how about the clunk coming from the same type of suspension problem thats been around in the mazda family for three years?

nah. maybe its just a regular protege and everyone that thinks its the shiznit and worth more than what you paid for it are smoking the fat crack pipe.
jesus, sorry for the rant, but im so sick of these type threads all over the place from miseducated and misguided people trying to sell what is a great car if you ask them, but horrible when they mutter under their breath.

either drive the car and suck it up and enjoy it until you get rid of it, or take the huge hit on a trade. [/B]

Damn Mattykins you actually made me snicker with this one...(k) (k)
I love my car and don't give a flying RAT BALL what they are trading for I am keeping it until it gets totaled or goes to the crusher due to very old age. Either way I think it's a remarkably well rounded little car just like all 3rd gen Pros.
Heck I will have this car and drive it even though in 4 yrs I'll buy something new or perhaps build an old 911 up to UBER POWA!
I don't see what all the discontent is about all in all the problems the MSP has had are not Earth shattering for MOST of the owners.
This is not an infinitely tunable street racer it's a beautiful, great handling, 4 door family car that lets you maintain some cool whilst you haul your 3 yr old to the daycare. Yes I will get some more power out of it but only to the point it stops being easy after that **** it I'll save my cash for the late 70's mid 80's plain vanilla UBER modded Porsche. Yes I wish it had a more tuner friendly ECU but hey that is not a FLAW it's just the way the car is.
Now pass the crack pipe MattyPoo I needs a hit (stoned)

 

[BrianV]

cochizzle I doubt the statement about the dealers not wanting them because they have problems. They do a close inspection of it and deduct the price accordingly. Also, since it's still under warranty the dealer can charge Mazda-USA for any work needed. The dealer really doesn't care about the car as long as they can make money on it.

When I bought my MSP they had a yellow mp3 on the used lot with 38K miles and they were asking $14k for it. I imagine they gave 10-11k for trade on it.

If Mazda dealers didn't want to sell used MSP's for that reason then they wouldn't want to sell new ones either. If the car runs and they can sell it (at whatever price) they'll give you a trade-in. Especially, when they can rip you a new one and get you into a more expensive car. I've never heard of a dealer refusing a reasonable trade-in. They'll give whatever they deem fair. There are still some people who want MSP's regardless of the issues, and there are still people who do not know about the issues. Having one on the used lot (when no more new ones are available) isn't that bad of an idea. It is a warrantied car so selling it shouldn't be too difficult. The sticker was $20,500, and the cars are less then a year old with ~10,000 miles. In 3-4 months maybe the dealers will think they can get 17k for them because there aren't any left, and that buyers looking at that time won't really know about the cars going for $15,900 before.

I'd imagine right now if you got lucky you could get offered 12k or maybe 13k if you had a SUPER low mile one. That'd be if you're real lucky. I think later on down the road it'll probably be the same, but then the cars will be older and we'll owe less on them. Dealers are interested in making money, they set what they think they can sell the MSP for, and they'll happily give you a fair amount to try and get you into another Mazda.

I also don't know about your statement about turbo'd cars. Still today Eclipse turbo's are radically more expensive then their N/A counterparts. Supra's are the same way. Audi A4 1.8t's have great resale values.

The MSP's lack of resale is simply due to the demand, which is unfortunately low; most likely caused by the problems, the lack of marketing, and the lack of exposure.

 

[BrianV]

Mathew, I understand what you're saying now, and after re-reading your first post I wonder why I didn't understand it the first time around.

Thanks again.

 

[Matthew]

no sweat at all

 

[unwrittenLaw]

I think a lot of people just have to get a new car every 1-2 years because they get bored w/ them. I just take my car on the back roads and crank up the music and realize that its a great car and I'm still happy with it..

 

[Dr.Sound]

u wanted goot resale value should have gotten a civic.

i had my 2000 Si for 3 years.
payed 17k for it.
after 3 years, after it got stolen, insurance priced it at 15,500

that's 1,500 depreciation in 3 years! no car comes close to that unless it's a GT2 or anything over 80k.