Need Help Quick!.....Should I trade???

[taylor5]

Ok here is the deal,

I have been talking to the Mazda dealer about a new 3s Hatch and the salesman is cool after all these years of dealing with jerks. Been talking to him off and on for about 7 weeks now.....

Went and saw him today and they can get me outta my P5(auto) with 3 years still left on the loan at 6.7% rate and into a new 04' Titanium 3s Hatch with moonroof/6 cd system and (5spd...yes) for a new 5 year car loan that is actually 5 bucks less a month than i am paying now and at 3.9% interest rate.

Also called my insurance rep and she told me "you will "save"...almost a 100 bucks a year in insurance if you trade up to this car. Turns out it has a 12 insurance rate compared to my P5 being a 16 rate.

I am a little nervous as a I am always when it comes to buying cars and just wondering.......

Should I start all over again since I am not really thrilled with where i am now with the bumpy ride of the P5 and the problems I have had with the trans and A/C? Remember 3 years left on payments, warranty almost up....

Or should I just go ahead and start over with what seems like a pretty decent deal (yea, they are still making their money you know...) and get my 5 spd and the newest in Mazda Automotive......and save a few bucks here and there with the payment and insurance. Should i take a chance since no-one "truly" knows yet what the issues with the 3 are gonna be????
\
The deal possibly goes down on Monday morn 1/26/04
PLEASE ADVISE...NEED OPINIONS.........

Thanks!

 

[Equinox]

got any mods on the p5?

 

[taylor5]

mods....

No mods, just a european license plate on the front that would go on the new one. .....

 

[Equinox]

trade it.

 

[anco2001]

Don't trade at the dealership, I went to trade in my P5 for a MSP and they wanted to give me only 7000$ for the P5, while I still owe almost 8000$ on it, your best option is to sell the P5 by yourself, pay it off, and with the rest of the money get the 3. Believe me, you'll get more if you sell it by yourself, and with a down payment at hand at the dealership they'll be willing to negotiate, if you just trade in your car for a 3 they won't negotiate.

 

[mp3girly]

I sorta agree with Anco there.. but if you feel like you're getting a good deal, I'd go for it! I test drove the 5-speed hatchback 3 just yesterday, and I think it's an awesome car! If I had the money, and if the MP3 wasn't limited edition, I'd trade it in for a 3..

 

[sunlight_guy]

I can't believe you're even wasting time writing this thread instead of signing your name on the dotted line. DO IT!!

 

[LapisBlueProteg]

look at all the people who are trying to sell there car. from what i have seen no one is selling there car. trade it in i think would be the best since selling private own car (look at kellybluebook.com) is less than the dealership!!

 

[cyomega]

Yeah, trying to sell your P5 privately is going to bring you nothing but frustration... I tried to sell mine a few months ago to free up $700/mo in note and insurance payments. I still have the car. At this point in time, depreciation is kicking all of our asses: the car is worth at least $2000 less than most of us owe on it. It's a shame that Mazdas don't have the resale value of, say, a Honda or Toyota, but hopefully that will change in the future.

 

[Natey]

Keep the 5. It's better looking.

 

[mp3moose]

I say keep the 5. Wait for a mazdaspeed 3.
moose

 

[Jimvh3]

TRADE IT!!!! QUICK HURRY!!! GO NOW...

think of it like this.
New car, New Warrenty,
Pay less!
What is the problem??
well go...what are you still doing here....trade it already!

 

[round00]

Yeah, whatever you do, don't sell your car to the dealer. Remember: almost everything that comes out of a car salespersons mouth is a lie.

Personally, I would never buy a new car at the beginning of the year. I always wait until the next year models come out. Whatever "great" deal you are getting now will be even better in September. Probably significantly better.

good luck. don't get fu*ked.

 

[round00]

further... your car is ALWAYS worth more selling it on the open market as opposed to selling it to a dealer.

Impulse buying will get you screwed. Take your time, sell your car, then go and negotiate a good deal at the dealership.

The deal your getting today will DEFINITELY be there tomorrow. I promise.

 

[Equinox]

why are you guys saying he wont get a good deal for his p5 when he already stated that trading it in, his payment would go down, he is obviously getting an okay deal. He's just asking is the mazda 3 better than the p5 if you had a good way to get one.

 

[TwinHead]

They way I see it:

You've been paying your car now monthly for 2 years and you will be giving it back for NOTHING.

Sure...you owe 3 years worth of $$$ and they will give you that ammount for the car and then you give it back to them to pay off your loan.

That means you could have leased your P5 for these two years and have paid half the monthly payment NO?? and given it back to get a new car.

I would say keep it. Pay it off in 3 years. Once the car belongs to you sell it privately and take that $$$ and put it down on you 2007 Mazda 3 (with all bugs fixed).

If not...and you go for it, your decision to BUY a new car 2 years ago means you are paying for the car for 7years...?? Some people pay off their homes in that much time...

Think of this...in 7 years...you'll still be enjoying your P5 and have an extra 2 years worth of $$$ payments saved in your account....


Hope this is written well....

 

[round00]

You ALWAYS are getting a bad deal (i.e. not even close to an optimal deal) if you trade your car in. Period.
It might seem like a "good deal," but it isn't.

Again, the dealer will make it "look" like you are getting a good deal, but if you think about it, and do some math, you are getting screwed.

If they give you a good deal on your car, that means they will not make any money when they sell it to someone else. Do you really think they are in the business of not making money or breaking even? No.

I agree also with above - first model year - stay away.

 

[taylor5]

Ok now what....

So some say get it, others say dont....

Facts :

I am not sure I trust the auto trans and the a/c after the warranty is up. They have been a little troublesome and I am not sure if they are fixed correctly.

Yea, it could be paid off in 3 years and then plunk that money on a new 2007 3 with bugs fixed....

Does it have bugs with the fact that it uses the 6's engine and trans which has been out a year or so already.....If it does, what would it be..? Suspension, Interior, Electronics, what???

They are giving 500 cash back till FEb 1st and 3.9 so it wont kill me to do it.....But it is a new 5 yr. loan.....with better warranty.....

This sucks.....1/2 or you and me want to do it and the other half of you and me does not....

Any ideas.......?

 

[johnnyB5646]

I'd do it just to get the manual. You'll love the 3 and hate your P5 simply because stick lets you drive your car not just ride in the driver seat.
I, on the other hand, would trade your auto P5 for a manual P5, but hey, they might need to move some 3's. If your having doubts about your car, go for the new one. Nothing worse than making payments on a car and paying for repairs on parts past warranty.

 

[Captain KRM P5]

trade it