Need advice — 2021 or 2022 CX-5 Signature?

[kardut]

Looking to trade in my 2013 CX-5 Grand Touring for a Signature turbo model. Definitely want the turbo so I don’t have to hear my husband curse any more about lack of power, as well as some of the other options that the Signature offers.

Of course, now is not a great time to buy, but don’t foresee that improving in the near or not-so-near future, so may as well capitalize on the hot trade-in market.

My dealer can either let me custom order a 2022 and wait (he estimates a 90-day wait, and I’m in no hurry), or he has a 2021 (former loaner) with 4k miles that I can purchase today.

Pros of buying loaner — can get max trade-in on my car, since value will only decline; get today’s interest rates (albeit used car rates), which will likely rise over next few months; get a bit of a break on price; extended warranty in effect for certified used vehicle. Cons — not keen about buying a loaner, since I know those 4k miles were likely pretty hard miles!

Pros of buying new — can get exactly what I want without needless dealer add ons; lower new car interest rate. Cons — run the risk of higher interest and lower trade-in value.

And the obvious difference — one is a 2021 and one is a 2022. Other than trim, is there a substantial (or not substantia) difference between the two?

Out the door price difference between the two is about $2500.

Sorry for the lengthy post, but I’m really torn on what to do.

 

[theblooms]

#1: never trade in your car. You'll get thousands more if you simply sell it yourself. The reason stealerships want trade-in is because that's just one more avenue to separate you from your money.

#2: never, EVER finance a car through a dealership. The Finance office is where the stealerships make the vast, vast majority of their profits, bar none. If you don't have the cash to purchase the car outright then find your own financing, through a bank or credit union. (Well, you shouldn't be buying anything that you don't have cash for, but that's a different argument for a different time).

Look up Kevin Hunter The Homework Guy on YouTube and watch a bunch of his videos before you even think about stepping on the lot. You buy a car once every couple of years. The stealerships sell cars all day every day. You WILL NOT beat them at their own game without doing your homework. Remember, the house always wins.

 

[kardut]

Thanks theblooms — we have financing already through our credit union. And while I agree wholeheartedly about trading in through the dealership, I’m at the age and mindset that I just don’t want to deal with the hassle of selling myself…heard too many horror stories lately of crazy people out there, lol!

(And yes, we can pay cash, but with interest rates as low as they are now, we’ll make more keeping our cash in the market. Less than 2% interest is basically free $$)

 

[theblooms]

What hassle? You take pictures of it and then list it on Craigslist and Facebook Marketplace, then people show up with money.

Selling a car is no different from selling anything else.

 

[kardut]

Wanna buy it?!

As a female, I’m not keen on meeting strangers in parking lots and either handing over the keys to my car so that they can test drive or, even worse, riding shotgun with them while they drive it. Too many carjackings and other crazy stuff happening out there these days.

Dealer actually gave me a fair offer (I checked KBB beforehand), and I asked for trade-in value after sales price was ironed out and in writing. Could I make another thousand or so selling it myself? Sure. Is it worth the headache to me? Nah. And yes, in response to your next probable question, I do have a concealed carry but don’t want to use it, lol!!

 

[Silly Wabbit]

Fyi sticker can change custom orders too because dealer can still tack on useless junks as addendum

 

[sm1ke]

I would get the 2022. For only $2500 more you get a brand new car, and you get peace of mind in knowing that you are the first and only owner. You also get the "refreshed" CX-5, which has new headlights, new taillights, a different front and rear bumper, and body-coloured fender trim. The 2022 also has 256 hp with 93 octane, while the 2021 has 250 hp with 93. Both have 227 hp on 87 octane. I'm sure there are other differences, these are just the ones that came to mind.

 

[Sig cx-5]

As far as trading in your old CX-5 goes, it only makes sense to sell it, if they offer you enough to make up for the tax credit. This varies by state, so may not apply. Oh, and I agree that I would never sell a vehicle on the web to a stranger. But, you can trust Carvana, Vroom and CarMax to name a few. They're offering top dollar for used vehicles as of late. It costs nothing to get quotes and your dealer will probably adjust their quote if you show them any higher offers.

 

[kardut]

Thanks Sig — I had actually already gotten quotes from all three of those, and the dealer’s was higher without any negotiation

 

[Jmaz]

Thanks Sig — I had actually already gotten quotes from all three of those, and the dealer’s was higher without any negotiation

Absolutely get the new car. Not worth the small price difference and you'll know the maintenance history (and lack of possible abuse) and it's a year newer. Which means it has a higher reimbursement value should it get totaled by the insurance company in case of an accident. With a high trade in and once and done transaction, I wouldn't worry about trying to milk a few extra bucks on a private sale. Sounds like you and I are of similar mindset ( maybe age too, I'm a definite senior). I traded my old car in on my CX-5. Selling a car private can be a pain in the derriere. Who has time for 'no shows' or lowballers. Peace of mind is worth alot.

 

[ceric]

To, OP.
Don't forget the incremental enhancements Mazda did to a 2022.

" The seats are redesigned to help provide the driver and the vehicle’s occupants with greater stability to help create a natural and comfortable experience. The driver will appreciate smooth acceleration with a more responsive six-speed automatic transmission. Updates to the suspension include improvements to the dampening control structure and increased frame rigidity, which will help suppress unpleasant vibrations, reduce road noise that help provide a quieter cabin and higher quality of ride comfort. Overall, these enhancements will help the driver feel more connected to the enjoyable driving experience."

Compared to my '17 CX5 GT, my '22 Turbo feels more refined.
The 2.5T is much more responsive than the 2.5NA, but that is not the topic here.

 

[Cohappy]

#1: never trade in your car. You'll get thousands more if you simply sell it yourself. The reason stealerships want trade-in is because that's just one more avenue to separate you from your money.

#2: never, EVER finance a car through a dealership. The Finance office is where the stealerships make the vast, vast majority of their profits, bar none. If you don't have the cash to purchase the car outright then find your own financing, through a bank or credit union. (Well, you shouldn't be buying anything that you don't have cash for, but that's a different argument for a different time).

Look up Kevin Hunter The Homework Guy on YouTube and watch a bunch of his videos before you even think about stepping on the lot. You buy a car once every couple of years. The stealerships sell cars all day every day. You WILL NOT beat them at their own game without doing your homework. Remember, the house always wins.

My only thing is in the state of Pennsylvania sales tax is taken off for the trade in value, in PA a $20000 trade in is a savings of $1200 this should be figured in your decision to sell or trade. My wife leases so this did not matter to her but she got $1500 more from carmax than for the trade in at the dealer

 

[hal2]

#1: never trade in your car. You'll get thousands more if you simply sell it yourself. The reason stealerships want trade-in is because that's just one more avenue to separate you from your money.

Never Shouldn't speak in definitives - "always", "never", etc. As mentioned, depending on tax the price could be offset by thousands. Many states only charge tax on the net trade difference. Traded my car for $37,000 - at tax savings of almost $3,000. MAYBE I could have made up that difference in a private sale

 

[hal2]

Keep in mind, at trade in time, whether in 3 years or 10, you'll make up at least (SWAG) $1,000 of that on a model year newer car

 

[theblooms]

Y'all live in some areas with really oppressive taxation. My state caps sales tax to $500 on any single transaction. Buying a $1,000,000 Bugatti? $500 in sales tax.

 

[Sig cx-5]

Y'all live in some areas with really oppressive taxation. My state caps sales tax to $500 on any single transaction. Buying a $1,000,000 Bugatti? $500 in sales tax.

This is the exact reason that the pricing thread need so much detail. It's not easy comparing deals from one place to another.

 

[HeloJoe]

#2: never, EVER finance a car through a dealership. The Finance office is where the stealerships make the vast, vast majority of their profits, bar none. If you don't have the cash to purchase the car outright then find your own financing, through a bank or credit union. (Well, you shouldn't be buying anything that you don't have cash for, but that's a different argument for a different time).

Even during "free money" times with low fed rates, my credit union was offering 4% auto loans vs Mazda's 0.9% 60 month financing.

No hidden fees, no hoops, no tack on warranties. Nothing. Why should I have traded liquidity for almost literally free money?

Trade in can be a huge deal for certain states. NY for example has no cap on sales tax (big shock I know). Trade ins reduce the taxable purchase price by the trade in amount. When you're expected to pay ~8% tax on a new vehicle, every $ traded makes a big difference.

 

[theblooms]

No hidden fees, no hoops, no tack on warranties. Nothing. Why should I have traded liquidity for almost literally free money?

Because when you get those "cheap" financing rates, you pay more for the car itself. By "taking advantage" of those rates, they are actually taking advantage of you. The house always wins with these people. They take away all incentives such as factory rebates and whatnot.

They're getting their money, I promise.

 

[hooked]

I prefer to sell my cars to a company knowing I’m not getting the maximum price for them. Since I keep them for over 10 years, I don’t want someone coming back to me in a couple of months complaining that the AC blew up or it started leaking oil or something.

And I don’t know about everyone else but I don’t have $30-40,000 burning a hole in my pocket. Yes, I’m paying hundreds of dollars extra in interest but it’s spread out over 5 years.

 

[HeloJoe]

Because when you get those "cheap" financing rates, you pay more for the car itself. By "taking advantage" of those rates, they are actually taking advantage of you. The house always wins with these people. They take away all incentives such as factory rebates and whatnot.

They're getting their money, I promise.

Never qualified for any factory rebates (no mil, way past college grad date, no previous Mazda for loyalty, etc.). I also had 7% knocked off MSRP before the great debacle that was the chip shortage. More importantly, the deal you negotiate, with low interest financing (0-1%) could beat incentives/rebates + outside financing. Beyond the 0.9% interest I'm paying, explain how I was taken advantage of? The dealer made a small profit over invoice price and I got a better interest rate than traditional banks could offer.

I'm just saying, it's a pretty terrible thing to make blanket statements about financing. It's a complicated mix of negotiated price, rebates available to you, available interest rates, trade values, etc. People need to sit down and do the math. It goes without saying, it's better to leverage debt rather than forfeit liquidity, people just need to live within their means....