Trading up.

[Loose]

I have a 2004 Mazda 3, fully loaded with the A/T and 25K on it. I went to the Mazda dealer to look around. They have a black, blue and red MS3 on the lot. I drove the red one and fell in love. It is everything my 3 is but faster and with finer appointments.

The dealership is at the end of their fiscal year this weekend and my friend who works there says that because they have 3 of the ms3's there the sales manager will surely make me a deal.

The red one is a Grand Touring with every option, a Mazdaspeed CAI, Clear bra, and 1 year of oil changes for $25,000.00 USD

I owe 8K on my car and the trade is for 14K so I will sink 6K into the down payment.

I know my insurance will go up by $150/yr which I thought was a bit much.



Any other thoughts or advice before I surcumb to the deal?

Thanx in advance,

Tim

 

[meha11]

go for it dude.

i would ask for the stock air filter to go with it, i cant think why but i just would.

 

[Choot]

Do it! You won't regret it... maybe except for the ass-numbing suspension. Pot holes and speed bumps suck majorly in this ride!

 

[Akaveli]

trader!!...lol nah go for it! Sounds like your getting a decent deal man.

 

[bazooka joe]

Do it! You won't regret it... maybe except for the ass-numbing suspension. Pot holes and speed bumps suck majorly in this ride!

haha...not that many pot holes in FL, go for it man!!

 

[Olestra]

Doooo iiiit. You'll probably be so happy.

Show freediverdude how it's done.

 

[TheFa1isOutdone]

Personally, if you have the means of paying for it, and you're somewhat of a car enthusiast, GO FOR IT.

I'm 100% convinced the MS3 is the best car you can buy if you want performance for a bargain. I won't even let myself touch one when I test the regular threes because I know it will spoil me.

Yeah your payments and insurance will go up, but so will your enjoyment of the car. You gotta pay for entertainment, right?

 

[freediverdude]

Don't buy it! If I can't have a speed3 then nobody else should either.

 

[TheDutchGun]

Fantastic deal. Go for it. You're getting a great trade in too.

 

[Bufalo]

Absolutely do it. You'll never regret it for a second. Best of luck and show us pics when you bring it home!!

 

[jersey_emt]

$150 extra a year for insurance and you think that's a lot?

That's like 12 bucks a month.

Anyways, GO FOR IT

 

[redheaddstpch1d]

You wont regret it

 

[nondual]

Check the engine mounts. Other than that, go for it! I love mine*.









*(when the engine stays in)

 

[ZoomVT]

not to piss on your corn flakes and let me just play devils advocate.
I'll start with the fact that the car is awesome and in terms of enjoyment and power/cost ratio you cannot do better. I also know that comparing an 04 mz3 to the ms3 is a huge difference and it is worth every penny.
On the other hand; it sounds like you have a lot of equity on your car and putting all that on the ms3 may not be a good long term decision.
the mz3 kept a good portion of its value because of its status as an econo box and good value in their category. The ms3 is a different animal; and you will be basically losing 60% or more of that down payment (6k) when you decide to trade it in. (unless you keep it but i think the ms3 is just a gateway drug, like weed)
Just my 2 cents. If you dont care for the money; or plan on keeping this car past your last payment then go for it; its a nice ride.

 

[Loose]

not to piss on your corn flakes and let me just play devils advocate.
I'll start with the fact that the car is awesome and in terms of enjoyment and power/cost ratio you cannot do better. I also know that comparing an 04 mz3 to the ms3 is a huge difference and it is worth every penny.
On the other hand; it sounds like you have a lot of equity on your car and putting all that on the ms3 may not be a good long term decision.
the mz3 kept a good portion of its value because of its status as an econo box and good value in their category. The ms3 is a different animal; and you will be basically losing 60% or more of that down payment (6k) when you decide to trade it in. (unless you keep it but i think the ms3 is just a gateway drug, like weed)
Just my 2 cents. If you dont care for the money; or plan on keeping this car past your last payment then go for it; its a nice ride.

You lost me on the loss of 60% of my down payment? Please explain.

I figured that the car is in limited production and I split my time between my R6 and my MZ3, hence the low miles on a 3 year old car. I figured that the MS3 will hold it's resale value because of the limited production.

I typically keep cars for 3-4 yrs and then trade them up. I buy vs. lease so that I may have equity in them when I go to trade/sell. I have done both in the past an this is what has worked for me.

Next year I graduate and my financial status is gonna increase by almost 10-fold. So the gate-way theory is OK with me.

Thanx Zoom and everyone who responded, I will keep you informed.


BTW, What color should I get and does the Navigation mean that much? I have never had it so it isn't something I would miss.

 

[ZoomVT]

well yeah i was referring to the loss of the equity when/if you tarde the ms3 in the future.
I am on the fence about how much value the ms3 will retain; yes it is a limited production vehicle with a lot of appeal due to power/design/etc; however we dont know what is going to be available in 2/3 years.
I think you will have a hard time getting the 6k out of the ms3 in equity when you trade again; i may be wrong but thats just my thought.

I understand what you are saying and it is a tough line to balance. I always liked purchasing in order to keep some kind of equity in the car (down payment for the next) but i have realized that you need to keep that car for a "break-even" period to maximize your equity; 2 years may not be enough as the initial depreciation is top heavy; meaning you lose more money in the first couple of years than in the last 2. So if you trade after 2 years you will lose more equity than if you trade after 4 years.
This last time i decided to lease; with a lower payment i can save the difference in payment and put it in an intereste bearing account and use that for down payment of the next vehicle lease (or take the money and run if i find myself in a bind).

Sorry for the long post; i was just trying to make myself clearer.

 

[TheFa1isOutdone]

Get black! Black car, black rims, black tint all becomes sex on wheels when combined together.

 

[Loose]

well yeah i was referring to the loss of the equity when/if you tarde the ms3 in the future.
I am on the fence about how much value the ms3 will retain; yes it is a limited production vehicle with a lot of appeal due to power/design/etc; however we dont know what is going to be available in 2/3 years.
I think you will have a hard time getting the 6k out of the ms3 in equity when you trade again; i may be wrong but thats just my thought.

I understand what you are saying and it is a tough line to balance. I always liked purchasing in order to keep some kind of equity in the car (down payment for the next) but i have realized that you need to keep that car for a "break-even" period to maximize your equity; 2 years may not be enough as the initial depreciation is top heavy; meaning you lose more money in the first couple of years than in the last 2. So if you trade after 2 years you will lose more equity than if you trade after 4 years.
This last time i decided to lease; with a lower payment i can save the difference in payment and put it in an intereste bearing account and use that for down payment of the next vehicle lease (or take the money and run if i find myself in a bind).

Sorry for the long post; i was just trying to make myself clearer.

Crystal Zoom, Thanx! I'm picking up what you are putting down (I love that saying). I agree with what you say. I'm just banking on the fact that the MS3 will hold it's resale value. When I bought the MZ3 I went out on a limb because I was the first one in my area to own one. I can't believe the resale value has held so well.

Here is a poor example:

3/04 I bought 2004 MZ3 for $18,200.00, now with 26K on the OD I can get about 14K in trade.

1/05 I bought the wife a 2004 MPV minivan loaded for $24,000.00, now with 27K on her OD I will only get about 12K for the trade.


That's just sad, isn't it!

Thanx man.

ps. I was in Worcester, Mass. last week. Damn it was cold!

 

[Loose]

Get black! Black car, black rims, black tint all becomes sex on wheels when combined together.

Bike is black. I don't know if I want a black car....



....but it is probably one of the best colors!

 

[ZoomVT]

Hey Loose,
i had an 04 mz3 as well; and i just traded it last weekend, which is why i hadall this in my mind.
my 04 had 48k miles and had a few scuffs (and a hit bumper; and perhaps a misaligned frame) which is why i traded. Than and also beacuse the options ont he new 3 are so much better than the 1st run.
Ina ny case; my 04 had 48k miles and had a trade in value of 9ish (because of the bumper damage) and should have been able to get 10k. Because of the great rate i had; i basically was able to get the amount i put down when i bought it in the first place. But being as it was such a PITA to get the trade in value i wanted; i decided to go with the lease.
The way i rationalized it is that i am fairly young and can afford to switch rides every so often; the money i saveby paying a lease can be saved to put down for a new car the next time around; and banking on my company doing well i should be able to afford more car and move up a bit.
Yes, on a lease i may lose my down payment as there is no equity but i am basically getting my equity out a little bit a time in the savings i get every month compared to the payment on a purchase at a 6.5% rate.