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Trade-Up? 2021 CX-5 or 2023 CX-5 (or CX-50)?

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CX5 GT
Yep. the new 2021 cx5 signature is already offered for near 40k. (not counting discounts). 3-4yrs ago the top range was 30k. Imagine what the next few years top model price would be. The problem I see is that the dealership experience is not luxury range and quality/warranty may be ok but not yet up to what it should be. I think what they plan to do is up the price then build it cheaper in US and eat the profit margin. :)
 
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Ottawa, Ontario
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17 Mazda 6 GT
Regarding the Subaru, you at a crossroads regarding it's trade in value. It's a tough decision to make at this point whether to keep it or not.
Another two years and 20,000 miles will devalue it quite a bit.
Dealers will not put an older higher mileage vehicle in their used car lot. They'll wholesale it out instead, which means they will lowball you on the value.
I'm at the same stage with my Mazda. I'm seriously considering trading it up now, before the depreciation accelerates. Either that or I keep it for ten years until it's worth nothing. Tough decisions.
 
:
South Carolina
:
12 MZ5 13 CX-5
A couple of thoughts:

#1: is there anything wrong with your present car? If there are no issues, then why do you want to change?

#2: never trade your car in, always sell it private party. When you trade it in, you are leaving thousands of dollars on the table. So what if it takes a month to sell? If someone said to you: hey, if you simply have the patience, I'll give you $3000. Who in their right mind wouldn't do that?

#3: you're paying cash for the new car, right? If not, DO NOT do the deal. Millionaires don't finance things that are guaranteed to lose value. You want to be a millionaire someday, right? Then you have to start acting like one today. Because lets face it: a million dollars truly isn't that much money in 2020. Sure, you can retire on it, but you won't be rolling in cash by any means, especially when a house can easily cost $250k or more. Depending on where you live, WAY more.
 
:
2019 CX-5 Signature
A couple of thoughts:

#1: is there anything wrong with your present car? If there are no issues, then why do you want to change?

#2: never trade your car in, always sell it private party. When you trade it in, you are leaving thousands of dollars on the table. So what if it takes a month to sell? If someone said to you: hey, if you simply have the patience, I'll give you $3000. Who in their right mind wouldn't do that?

#3: you're paying cash for the new car, right? If not, DO NOT do the deal. Millionaires don't finance things that are guaranteed to lose value. You want to be a millionaire someday, right? Then you have to start acting like one today. Because lets face it: a million dollars truly isn't that much money in 2020. Sure, you can retire on it, but you won't be rolling in cash by any means, especially when a house can easily cost $250k or more. Depending on where you live, WAY more.

This info is so out of date for the current times. I'll bypass #1, since people are free to purchase things that make them happy.

2: I just went through this with my 2013 Lexus. I wasn't even looking to get rid of it, but I happened to check out Carvana, as I do from time to time. They gave me an offer of $22k. That is about half of what I paid new 8 years ago. I scoured the internet for private sales and couldn't find anything even close to that high. Besides, private sales for that kind of money are not something that should be handled by people not familiar with the process. Trade-in value was around $16k, so I sold it without having anything in mind to replace it with.

3: Interest rates are at historical lows. You would be stupid to shell out $40k cash for a vehicle, when you can invest it and make way more than the going purchase rates being offered. People with high wealth rarely pay cash for cars, they usually lease.
 
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2021 CX-9 Sig
:
2014 CX-5 GT
This info is so out of date for the current times. I'll bypass #1, since people are free to purchase things that make them happy.

2: I just went through this with my 2013 Lexus. I wasn't even looking to get rid of it, but I happened to check out Carvana, as I do from time to time. They gave me an offer of $22k. That is about half of what I paid new 8 years ago. I scoured the internet for private sales and couldn't find anything even close to that high. Besides, private sales for that kind of money are not something that should be handled by people not familiar with the process. Trade-in value was around $16k, so I sold it without having anything in mind to replace it with.

3: Interest rates are at historical lows. You would be stupid to shell out $40k cash for a vehicle, when you can invest it and make way more than the going purchase rates being offered. People with high wealth rarely pay cash for cars, they usually lease.

3. Yes, you can get a new car at either 0.0% or 0.99% without much work. Heck, even at 1.5%, it is a deal as most most funds right now are making 5-10% annually.
 
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Ottawa, Ontario
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17 Mazda 6 GT
#2: What you get for your trade vs selling privately is different for each situation.
It starts with what you have as a trade/sell. Some cars are valued lower than others simply because they are not desirable cars. Sometimes it's best just to accept the trade offer because selling privately could be a real hassle.
Trade value at dealerships is always negotiable too. Don't accept the first lowball offer.
Also, don't start your negotiations on the price of the new car with your trade in.
Start by getting the best price you can on the car first, THEN introduce your car for trade.

#3. Interest rates are indeed very attractive right now. Trouble is, it works both ways. You won't make much money squirrelling your cash away at the bank. Unless you are an investment guru and are comfortable taking risks with your cash, then you won't get much return on your investments.
Keep in mind too that 0% is never actually 0%. Somewhere in the equation, the dealer or the bank will get their pound of flesh. No-one gives you money for free.

Good luck.
 
:
2019 CX-5 GTR
....
Keep in mind too that 0% is never actually 0%. Somewhere in the equation, the dealer or the bank will get their pound of flesh. No-one gives you money for free.

Good luck.

Yes. Ever notice how you can either get 0% finance OR a certain amount of rebate? The rebate value is the cost of the "free" money to the manufacture. Of course the dealer no matter what you pay for a new vehicle will make a profit from the sale.
 
A couple of thoughts:

#1: is there anything wrong with your present car? If there are no issues, then why do you want to change?

#2: never trade your car in, always sell it private party. When you trade it in, you are leaving thousands of dollars on the table. So what if it takes a month to sell? If someone said to you: hey, if you simply have the patience, I'll give you $3000. Who in their right mind wouldn't do that?

#3: you're paying cash for the new car, right? If not, DO NOT do the deal. Millionaires don't finance things that are guaranteed to lose value. You want to be a millionaire someday, right? Then you have to start acting like one today. Because lets face it: a million dollars truly isn't that much money in 2020. Sure, you can retire on it, but you won't be rolling in cash by any means, especially when a house can easily cost $250k or more. Depending on where you live, WAY more.
Yes, never finance something that is decreasing in value every day that you own it. The only thing to finance is a house.
 
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2021 CX-9 Sig
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2014 CX-5 GT
#3. Interest rates are indeed very attractive right now. Trouble is, it works both ways. You won't make much money squirrelling your cash away at the bank. Unless you are an investment guru and are comfortable taking risks with your cash, then you won't get much return on your investments.
Keep in mind too that 0% is never actually 0%. Somewhere in the equation, the dealer or the bank will get their pound of flesh. No-one gives you money for free.
The amount you pay on a $40,000 2% loan over a 60 month term is $2,000. Most mutual funds right now - just do something that invests in the S&P - are increasing year to year. That 40K five years ago just in the S&P would have doubled. Genius is not required. Just saying.
 
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2018 AWD GT Premium Red/Black
The amount you pay on a $40,000 2% loan over a 60 month term is $2,000. Most mutual funds right now - just do something that invests in the S&P - are increasing year to year. That 40K five years ago just in the S&P would have doubled. Genius is not required. Just saying.
The S&P 500 was down something like 40% at one point last year. We happen to have been in a bull market, but you can't count on that.

I sympathize with the gyst of the, don't buy it if you can't pay for it, argument - as well as selling to private parties over trade-in. But I've also driven my cars into the ground and a used one has never been worth more than a few thousand. So haven't had to sweat managing a 10s of thousands transaction with some stranger.

But another consideration for trade-in vs. sale to private party is, at least in WA state, the car purchase is taxed on the net sale price - after trade-in. So a $25K trade-in could take about $2K off of the taxes.

It seems a patently unfair way to tax. One should be able to deduct the private sale proceeds, if dealers get to benefit from customers not getting taxed on trade-in.
 
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2021 CX-5T AWD CE
It seems a patently unfair way to tax. One should be able to deduct the private sale proceeds, if dealers get to benefit from customers not getting taxed on trade-in.

The dealer lobbying groups keep this tax advantage in place at tremendous lobbying expense. Effectively, it is a conduit of money from car buyers to politician election campaigns.

It’s been constitutionally challenged in a few state courts and I recall one that got the law changed to allow car buyers to deduct sales tax from a private sale as long as it was done within a set period (like 90 days). Maybe LA.

- Mark
 
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Ottawa, Ontario
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17 Mazda 6 GT
The S&P 500 was down something like 40% at one point last year. We happen to have been in a bull market, but you can't count on that.
It's impossible to know what the next five years will bring. I mean, who could have predicted this pandemic, and who thought it would still be a problem over a year later?
I remember my retirement savings accounts taking a massive hit back in the last downturn in 2008.
I never fully recovered from my losses.

I paid cash for my Mazda three and a half years ago, and have no regrets.
Even with the so called 0% financing option, the dealer wouldn't lower the price down to what I eventually paid in cash. I also got a few accessories added on for free, so the bottom line was a few grand less than a financed price.

Now, If I could just figure out what to do with my 2002 Pathfinder...lol.
 

Antoine

Administrator
Side note...Reminder here, let's stick to the specific topic at hand which is whether to go for the 2021 CX-5 or wait for the 2023 CX-5 redesign (or CX-50)...Or just keep the current vehicles...

Hey guys,

Need some thoughts and opinions here. I currently have a 2019 GTR (love it), and my wife has a 17' Subaru Legacy. I would like to upgrade her car, and she also really likes my CX-5. So, I am really debating if I should get her a 2021 Sig, or wait it out for the 2023 redesign? Anyone else on the fence like me? I like the rumors I am hearing about the 2023 model, so I'm hesitant to pull the plug on a 2021. However, that infotainment center would be a nice upgrade :)

Thanks all!

Thanks!
 
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2021 CX-9 Sig
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2014 CX-5 GT
Side note...Reminder here, let's stick to the specific topic at hand which is whether to go for the 2021 CX-5 or wait for the 2023 CX-5 redesign (or CX-50)...Or just keep the current vehicles...



Thanks!
Sorry. To the OP, the current CX-5 has been refined over the last couple of years and is really complete and time tested. Whatever comes next will be new and unknown in many ways. Who knows when it will show up as well.
 

sm1ke

Work In Progress..
Moderator
Contributor
:
Canada
:
'18 CX-9 Signature
Well, since the OP already bought an RDX, maybe this thread is done?
https://www.mazdas247.com/forum/index.php?threads/farewell-mazda.123875365/#post-6725862

Yes, OP initially wanted opinions on trading in his wife's car ('17 Subaru Legacy) for a new 2021 or waiting out the redesign. Instead, he traded in his 2019 GT Reserve to get the RDX.

That said, in the other thread, he did say he was still hoping to convince his wife to upgrade from the Subaru to a new CX-5 sometime next year. Further relevant discussion on the topic may still prove useful if he revisits the original plan with his wife.
 
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Ottawa, Ontario
:
17 Mazda 6 GT
Side note...Reminder here, let's stick to the specific topic at hand which is whether to go for the 2021 CX-5 or wait for the 2023 CX-5 redesign (or CX-50)...Or just keep the current vehicles...



Thanks!
Wow. We were discussing buying vehicles, trade ins, cash vs. financing, all of it relevant to the original opening post. It's not like we were off discussing the latest Mars rover or current diet fads.
As long as the discussions are meaningful and civilized, I don't see the need for the interference, (which has happened more than once on this site).
Cheers for now.
 

Antoine

Administrator
Wow. We were discussing buying vehicles, trade ins, cash vs. financing, all of it relevant to the original opening post. It's not like we were off discussing the latest Mars rover or current diet fads.
As long as the discussions are meaningful and civilized, I don't see the need for the interference, (which has happened more than once on this site).
Cheers for now.
The thread was starting to become a discussion on financing and the mechanics of purchasing etc not to mention the stock market...All that is fine as along as that is the topic. I'm providing a friendly reminder to keep threads on topic as much as possible so that they remain as useful as possible for OPs and anyone else with the same topics/questions in mind. Please keep that in mind from now on, thanks.

You can PM me if you have further thoughts on the above matter.

Now let's get back to the topic which @sm1ke recently clarified...
That said, in the other thread, he did say he was still hoping to convince his wife to upgrade from the Subaru to a new CX-5 sometime next year. Further relevant discussion on the topic may still prove useful if he revisits the original plan with his wife.
Thanks!
 
Wow. We were discussing buying vehicles, trade ins, cash vs. financing, all of it relevant to the original opening post. As long as the discussions are meaningful and civilized, I don't see the need for the interference, (which has happened more than once on this site).
Cheers for now.
+1000

I was banned for having a robust discussion in another thread.
Supposedly I was "Trolling, Derailing Threads as well as Being Hateful, Negative, Abusive, Threatening, Insulting."

You definitely need to tread lightly around here.
 

sm1ke

Work In Progress..
Moderator
Contributor
:
Canada
:
'18 CX-9 Signature
+1000

I was banned for having a robust discussion in another thread.
Supposedly I was "Trolling, Derailing Threads as well as Being Hateful, Negative, Abusive, Threatening, Insulting."

You definitely need to tread lightly around here.

You were temporarily banned for ignoring multiple moderator requests and warnings. This was all explained to you in the posts and conversation messages that led up to your ban, some of which have since been deleted/archived because you were indeed trolling and it was cluttering up the thread.

As explained before, you continued to force your opinion on another user when it was clear that neither of you were going to come to an agreement. Instead of agreeing to disagree, you continued to assert that your opinion is "right", which does nothing but attempt to provoke a reaction (which is defined as trolling in the Rules, Terms and Guidelines that you accepted when you signed up for this forum).

Again, back to the topic at hand please.