New 2014 Mazda 5 GT w/ Luxury OR 2013 Mazda 5 GT w/ Luxury (44,000KM)

[flameboy54]

Hi all,

I'm new to the forum and, as you can tell from the title, looking for a Mazda 5 in Canada.

I'm currently stuck in a dilemma and need some input in deciding between a fully loaded 2014 Mazda5 or a one year old 2013 Mazda5 with 44,000Km (27,340 miles). Here's the ad for the 2013.

If I was to buy new, I would aim for invoice + 2% = $27,000 OTR. The advertised 2013 is for $20,888 + taxes = $23395 OTR so right off the bat I'd save $3605. I'm hoping to grind them down to about $19,500 + taxes = $21840 OTR. Total savings new vs used = $5160.

Provided I crunched my numbers correctly, we're looking at about a 20% difference used vs new. Provided the 2013 checks out completely, is it even worth considering? Or should I just bite the bullet, get the 2014 and call it a day? Any constructive input is appreciated. Thanks in advance!

 

[kw_da]

What is the difference in the warranty length? Is the increased warranty on the new vehicle worth the extra cost? Are you financing? The rates on used vehicles may be greater than new - which would lower the difference in price.

 

[WHY]

I guess no one can really answer that for you, how long are you going to keep the car for? if you decide to keep it in a long run like over 10 years I would get new.
Bought my GT last week with auto/Lux and sunroof with the Mazda Canada incentive 4500 off, but still paying a bit over the 27,000 out of door.

 

[ROBOTO]

Mmmh, Red Flag Deals.

 

[flameboy54]

kw_da: Not sure about the balance of the warranty. Assuming it as purchased in late 2012, it would be approaching the 2 year mark of the standard 3 year warranty. So worse case scenario, 1 year left? In terms of financing, no financing needed. This will be a straight cash purchase.

WHY: The plan is to keep it long term, at least 10 years, probably more. You got me thinking - an extra $5k for new over 10 years is peanuts. Check inbox

 

[Hank3]

I would certainly check into a Certified Pre-owned (CPO) Mazda5 as well. The price will be less and you get an extended warranty as well. There's piece of mind knowing that the Mazda dealer had to do a 150 point inspection prior to making it a CPO vehicle.

More info here:

http://www.jimellismazdaatlanta.com/certified-pre-owned-faq.htm#150pts

 

[ScratchNSniff]

Granted we just picked up a 2012 Sport and not a GT, when I came to think about it, the $12K out the door price was quite nice, knowing I wasn't going to take the $9K ish hit in depreciation the first 2 years...less then 60K miles...warranties are IMO a waste...always have been...why not self-warranty it and save the money...if a repair comes up, just pay for it...a lot easier to pay cash for a car half the price too...and just a few years old...maybe I am stuck in my ways though...

 

[Silentnoise713]

1. Buy new and just enjoy worry free ownership.

2. Otherwise, buy used from a personal seller (but you have to know what you are looking for and it’ll take some time to shop for that right seller/car) and save a bunch more.

3. Buying a used car from any dealership (mom&pop or chain) is not worth it, IMO



I choose #2 unless there's a new car that I RELLAY want.

 

[tuanies]

Yea I bought new because I didn't want to deal with spending time searching for a used car. Plus my experience with Craigslist cars have been pretty terrible, ie pictures look good and you go look at it and its a piece of s***. At least with #1, I know I'm the first person to fart in it.

 

[kw_da]

kw_da: Not sure about the balance of the warranty. Assuming it as purchased in late 2012, it would be approaching the 2 year mark of the standard 3 year warranty. So worse case scenario, 1 year left? In terms of financing, no financing needed. This will be a straight cash purchase.

WHY: The plan is to keep it long term, at least 10 years, probably more. You got me thinking - an extra $5k for new over 10 years is peanuts. Check inbox

Actually, after I saw some of the other posts, it might make sense to take the used car. It depends how much risk you want to take vs cost. The additional $5k can be seen as "lost opportunity cost". The actual cost of the $5k is given by if you took the $5k and invested it. If you assume 5%/year, that $5k would now be $8.1k after 10 years. If you like both cars equally well, you can pay for a lot repairs with $8k. The older car should cost less to insure, which would save you more $. The downside is that you don't know the history of the used car, but Mazda are fairly reliable.

 

[flameboy54]

If I was to go used my first option would definitely be with a private party but there are next to no owners selling 5 GT's. Majority of the used 5 I've seen (2012+) seem to be GS's - about 75%-80% worth.

At this point I'm leaning towards new but I'll have a look see at some of used one on the market and sleep on it. Thanks for all the input, much appreciated.