NADA Book!!!

[MP3-Owner]

This is some disturbing news... I went to a local car dealer today to find out how much they would give me on the MP3 for a trade in(Not serious about trading it, just wanted to see and test drive some new cars) but anyway, when he looked in the NADA used car book that most all bankers and lenders go by, he found NO listing for the 2001 Mazda Protege MP3!!! Which means that ALL a bank will loan anyone looking to buy a used MP3 will be the loan amount of the STANDARD Protege ES!! This pisses me off because somehow Mazda did not report to NADA that the MP3 has about $5,000US more parts on it then the ES and so we will all have a hard time selling our cars, If the people buying the car CAN'T get a loan to buy it! All the bank will loan a person looking to buy an MP3 will be about $9,000US because that is about the going rate for the ES. Aint that a b****! :mad:

Maybe they will come out with a new book that will list the MP3 but I am not for sure. Now this is all going from what a "Salesman" told me and showed me in the NADA book, so Someone PLEASE Correct me if I am wrong about this.

 

[derrick1623]

nada...

a lot of dealers go by the "kelley blue book" also...check out www.kbb.com search for our car, i dont know if they updated it, but when i checked, it was on there.

 

[Inimical_01ES]

Actually, the KBB is used more for a reference... Dealers use a Black book for trade-ins, it represents the Wholesale value of the car, which unfortunately, is a lot less than what the KBB states.

Hope this helps!

 

[Shagg]

KBB has no info. even though they list the car.

 

[jaman]

Why would you want to sell your car to a dealer?? You will almost always get a better price selling it privately, especially with a limited edition like the MP3.

 

[MP3-Owner]

This is what KBB says about our cars...
"At this time Kelley Blue Book does not have the necessary data to assess this vehicle. Ample turnover must occur in the marketplace before Kelley Blue Book can report a value for this vehicle."

Quote:"Why would you want to sell your car to a dealer?? You will almost always get a better price selling it privately, especially with a limited edition like the MP3."End Quote

Well this is true, BUT what if the person you are selling it to cant get a loan to pay for the price you want for it? I mean if the bank looks in there little book and only sees the loan value for a 2001 ES which is about $5 to $6,000 LESS than the MP3 value, then the bank will loan that person $5 to $6,000 LESS than what you want for your MP3. Which means that that person would have to have $5 to $6,000 just laying around to cover the difference.

 

[jaman]

Thanks for clearing that up!! I was a bit confused.

 

[sdmp3]

Well this is true, BUT what if the person you are selling it to cant get a loan to pay for the price you want for it? I mean if the bank looks in there little book and only sees the loan value for a 2001 ES which is about $5 to $6,000 LESS than the MP3 value, then the bank will loan that person $5 to $6,000 LESS than what you want for your MP3. Which means that that person would have to have $5 to $6,000 just laying around to cover the difference. [/QUOTE]

This can't be true. How do people sell their cars after they have modified them??? I'm sure they just dont sell it at the price listed in the NADA just because people can't get loans to cover the extra costs the original owner has put into them...

 

[Sir Nuke]

its a fact....unless the person that is interested in your car has an appreciation for the modifications that have been performed to the car....chances are you are NOT going to get any EXTRA money out if it....and for SURE....NO BANK or lending establishment gives a rats butt if you modded the car or not....they will ONLY lend to the max that is in the NADA book...if that.

that is just how it works......

 

[MP3-Owner]

So if Mazda didnt tell the NADA people about all the extras they put into the MP3 from the dealer then we are all screwed when it comes time to sell, if anybody wants to. So just something to keep in mind. If I were going to sell my car, I would go into a richy rich part of town and find someone with high school kids and see if they want to buy their kids a nice graduation present ONLY $18,500! hehe

 

[Sir Nuke]

actually since the MP3 is such a new vehicle....and Mazda MAY have not told the NADA about it last year so that it would be in the book THIS YEAR.....wait till NEXT years book comes out and you may find it there.

 

[MP3 Beazie]

Hey guys, take a look at www.edmunds.com. The MP3 is listed here and yes it is sad to say that the price is around $14,299 for retail value as a CLEAN condition vehicle.

THough are car is limited addition those who have sold them alredy are whoring them out. NADA and KBB are dependant upon actions of the market. If people are paying a certain price for a car nationwide that is the price which is going to eventually end up in the books. Look at all the past auctions on ebay many of the cars have sold WAY less than the 18,000+ we paid.

Needless to say this car has not held it's value.