2007 Mazda Miata...I mean MX-5

[PricklyPete]

Ok, so a dealership nearby has a 2007 silver Mazda MX-5 Grand Touring 6spd with Sport package (better suspension/tower brace/limited slip) and all the trimmings (which are admittedly not much on an MX-5...seat heaters/Bose/leather/keyless entry/start). Only 20K miles...and they are desperate to sell as they are going out of business. they have it listed at 18K...but I think I can get them into the 15's to get it off their hands.

We weren't really looking for a car. My wife's 2004 Civic just crested 100K...so really just breaking it in. That being said, we both hate driving the car (automatic with anemic engine) and both of us have been wanting something fun to drive...but haven't wanted to spend the money (I have a Tacoma that I will keep for at least another 10 years).

With regard to money...that is not an issue and we would pay cash for the Miata...I mean MX-5. My wife would definitely like something "fun" before we settle down and have kids. I secretly wouldn't mind whipping a little Miata around even if it is a bit of a "chick" car. We test drove it today...and amazingly I fit and was comfortable (6'5") and so did my wife (5'10"). The car drove really, really well. I wasn't that impressed with the quality of the interior..but it will serve its purpose. Seems like a screaming deal for the amount of fun that it brings to the table.

So how much will we regret buying this? Has anyone else used a Miata as a primary car? My wife will obviously have access to my truck for more "practical" needs (most days I walk to work)...and she doesn't have to use it to drive to work each day.

The financially responsible side of me wants you guys to talk me out of this...but a huge part of me wants a fun car to drive and this seems to be about as cheap as it comes for a late model, fun to drive car that my wife will approve of.

Thoughts?

 

[thedarkwolf]

I drive my 94 daily. Its by far the most fun car I have ever owned. It actually has a decent sized trunk so trips to the grocery store and things aren't really a problem. On those days when I do need more space I have beater dodge caravan and you have a truck. What I am saying is get it and keep using your wife as an excuse to why you are driving it if your buddies give you crap . They are reliable little boogers too.

 

[The Stigenator]

buy it!

 

[Mermaidman]

I don't know how this would affect used Miata values, but Mazda was offering $5K rebate on 2008 models up until 5/31/09! Still, a 2-3 year old loaded GT soft top for $15K would be a nice deal. Buy it!

 

[ballmode]

Originally posted by: thedarkwolf
I drive my 94 daily. Its by far the most fun car I have ever owned. It actually has a decent sized trunk so trips to the grocery store and things aren't really a problem. On those days when I do need more space I have beater dodge caravan and you have a truck. What I am saying is get it and keep using your wife as an excuse to why you are driving it if your buddies give you crap . They are reliable little boogers too.

I got a 2001. I added HID lights to the projectors. www.miata.net is a good source of info.

If you do get that NC (chassis code) a header and exhaust will add about 35 hp to the wheel, they are really bottled up.

Add a suspension and you could be roadracing with the best cars and hang with them or pass them until the straights.

But since it seems more like a weekend car... it won't matter. That car is reliable, fun, cheap to insure and parts are super cheap. Lightweight = FUN in today's world of heavy cars. 2400lbs is a blast to toss around corners. If you hit anything parking that thing you should have your drivers license taken away because its so small and easy to steer haha.

I love mine but I hate it at the same time for the long highway trips can be straining. The NC however is more roomy, quieter and if you get that folding hard top its great to take away the wind noise and don't have to worry about roof leaks.

The NC has a multilink rear suspension which is very superior for handling and suspension components.

 

[ballmode]

Originally posted by: Mermaidman
I don't know how this would affect used Miata values, but Mazda was offering $5K rebate on 2008 models up until 5/31/09! Still, a 2-3 year old loaded GT soft top for $15K would be a nice deal. Buy it!

Most people charge about 1-2k more than blue book for their miata's. Alot of older folks buy them up and get the marketing sold to them about limited editions or special features like BOSE sound systems that make them think they are worth more than they really are.

I doubt it will effect values once the car is worth less than 12k

 

[DeviousTrap]

Originally posted by: The Stigenator
buy it!

This. They're really fun cars to toss around if you have an excuse to buy one.

One thing, I'll be amazed if they even consider your offer of $15k, that's basically going rate at dealer auctions right now. If you get it even in the high 15s then you absolutely stole the car from them.

 

[thedarkwolf]

Originally posted by: ballmode

Originally posted by: thedarkwolf
I drive my 94 daily. Its by far the most fun car I have ever owned. It actually has a decent sized trunk so trips to the grocery store and things aren't really a problem. On those days when I do need more space I have beater dodge caravan and you have a truck. What I am saying is get it and keep using your wife as an excuse to why you are driving it if your buddies give you crap . They are reliable little boogers too.

I love mine but I hate it at the same time for the long highway trips can be straining. The NC however is more roomy, quieter and if you get that folding hard top its great to take away the wind noise and don't have to worry about roof leaks.

I've taken mine on several long 400+ mile road trips and the only problems I've had is a sun burn where I part my hair lol, sun screened everything else, and a blister on my elbow from the center console.

 

[Audiotherapy]

im a NB miata owner, but for 15k i'd look for a s2000 thats still in decent shape

 

[StageLeft]

Buy it. It's patently useless when you have kids, but until then go for it.

Not sure about trimmings but I have heard you can buy a new miata a hair under $20k right now if you look around. If you really could get this for about $16k, though, do it. I've never heard of somebody who bought a miata and was disappointed. You already know when you buy it that it has no trunk, no room for a third person, and you will look pretty girly getting out of it, but if you're ok with that, do it!

 

[Mursilis]

Originally posted by: DeviousTrap

Originally posted by: The Stigenator
buy it!

This. They're really fun cars to toss around if you have an excuse to buy one.

One thing, I'll be amazed if they even consider your offer of $15k, that's basically going rate at dealer auctions right now. If you get it even in the high 15s then you absolutely stole the car from them.

Good advice here. Anything over ~$16 is probably too much for the car, but they're great cars. I've got an '04 Mazdaspeed Miata, and it's an absolute blast to drive. However, if I were getting an '07 or newer, I'd definitely try to find one with the power retractable hardtop (PRHT) option. That's such a cool, and practical, feature.

 

[Thump553]

As far as being a chick car, both my male neighbor and male office suite mate have been fanatic Miata owners for years.

As far as all season car, neither drives theirs at all in our Southern New England winters. I test drove one and liked it a lot, but even the salesman admitted that it would not do as a primary drive here.

 

[PricklyPete]

Well our home is in SC...although I'm on a project in St. Louis. I generally walk to work...so my wife would have access to my 4x4 truck most of the time...so I don't think it will be an issue in the winter.

My wife and I are still contemplating the practicality of the purchase (whether the fun factor will offset the lack of practicality) and I'm still seeing if I can get my cheap ass to spend the money...but if I can get the guy down in the $15K range...I might just have to bite. I have been reading a lot of professional/user reviews...and pretty much everyone seems to love their cars. I really did enjoy the test drive...it really had some decent get up an go...and was very tossable. I had driven older Miata's (NB) that I didn't feel like I fit in very well...but I actually felt decently comfortable in this one.

My current thought is to buy it...let my wife drive it for a couple of years...then when we settle down, it can be relegated to our extra/weekend/fun car that I can work on and have as a track day race toy.

I hate spending the money...but then I hate spending money on a $25 work shirt....so that will always be the case.

 

[bargetrav]

Originally posted by: PricklyPete
Well our home is in SC...although I'm on a project in St. Louis. I generally walk to work...so my wife would have access to my 4x4 truck most of the time...so I don't think it will be an issue in the winter.

My wife and I are still contemplating the practicality of the purchase (whether the fun factor will offset the lack of practicality) and I'm still seeing if I can get my cheap ass to spend the money...but if I can get the guy down in the $15K range...I might just have to bite. I have been reading a lot of professional/user reviews...and pretty much everyone seems to love their cars. I really did enjoy the test drive...it really had some decent get up an go...and was very tossable. I had driven older Miata's (NB) that I didn't feel like I fit in very well...but I actually felt decently comfortable in this one.

My current thought is to buy it...let my wife drive it for a couple of years...then when we settle down, it can be relegated to our extra/weekend/fun car that I can work on and have as a track day race toy.

I hate spending the money...but then I hate spending money on a $25 work shirt....so that will always be the case.

The problem is, going out of business or not. It's a used car so they paid an exact X amount for it, there are no special rebates or any gray area to worry about. They won't lose money on it to get rid of it. If that car gets 15k+ at auction no way they'll sell it to you for 15k as there would be no point as the fallback would be to dump it at auction or simply just wait for the next guy who will pay 17k.


What I'd do is look up blue book retail, private party, etc. what are those figures? If you're getting it a good bit less than private party value in good/excellent shape then I'd say go for it.

 

[Mursilis]

Originally posted by: bargetrav

Originally posted by: PricklyPete
Well our home is in SC...although I'm on a project in St. Louis. I generally walk to work...so my wife would have access to my 4x4 truck most of the time...so I don't think it will be an issue in the winter.

My wife and I are still contemplating the practicality of the purchase (whether the fun factor will offset the lack of practicality) and I'm still seeing if I can get my cheap ass to spend the money...but if I can get the guy down in the $15K range...I might just have to bite. I have been reading a lot of professional/user reviews...and pretty much everyone seems to love their cars. I really did enjoy the test drive...it really had some decent get up an go...and was very tossable. I had driven older Miata's (NB) that I didn't feel like I fit in very well...but I actually felt decently comfortable in this one.

My current thought is to buy it...let my wife drive it for a couple of years...then when we settle down, it can be relegated to our extra/weekend/fun car that I can work on and have as a track day race toy.

I hate spending the money...but then I hate spending money on a $25 work shirt....so that will always be the case.

The problem is, going out of business or not. It's a used car so they paid an exact X amount for it, there are no special rebates or any gray area to worry about. They won't lose money on it to get rid of it. If that car gets 15k+ at auction no way they'll sell it to you for 15k as there would be no point as the fallback would be to dump it at auction or simply just wait for the next guy who will pay 17k.


What I'd do is look up blue book retail, private party, etc. what are those figures? If you're getting it a good bit less than private party value in good/excellent shape then I'd say go for it.

They've got to convert it to cash somehow, and even if they send it back to auction, there's no guarantee they'll get $15K, so they may decide to just go for the sure thing of a solid offer from OP. Can't hurt to ask!

 

[adlep]

Its a great car. Not very practical, but I will own it one day as a summer ride...

Go for it

 

[DivideBYZero]

You'll love it. Buy it.

 

[PricklyPete]

Originally posted by: bargetrav

The problem is, going out of business or not. It's a used car so they paid an exact X amount for it, there are no special rebates or any gray area to worry about. They won't lose money on it to get rid of it. If that car gets 15k+ at auction no way they'll sell it to you for 15k as there would be no point as the fallback would be to dump it at auction or simply just wait for the next guy who will pay 17k.


What I'd do is look up blue book retail, private party, etc. what are those figures? If you're getting it a good bit less than private party value in good/excellent shape then I'd say go for it.

You may be right...but I have nothing to lose. The guy needs to get rid of it...and I have cash to give him now. The lot is actually one of those Dodge/Jeep dealerships that is being dropped because of the bankruptcy....this Miata was a Trade-In...so the dealership may have gotten this for a pretty good deal...but who knows.

As I said...we don't have to buy this...so if he isn't willing..then I'll get over it. I'll keep you guys updated on what he comes back with.

 

[DeviousTrap]

Originally posted by: PricklyPete

Originally posted by: bargetrav

The problem is, going out of business or not. It's a used car so they paid an exact X amount for it, there are no special rebates or any gray area to worry about. They won't lose money on it to get rid of it. If that car gets 15k+ at auction no way they'll sell it to you for 15k as there would be no point as the fallback would be to dump it at auction or simply just wait for the next guy who will pay 17k.


What I'd do is look up blue book retail, private party, etc. what are those figures? If you're getting it a good bit less than private party value in good/excellent shape then I'd say go for it.

You may be right...but I have nothing to lose. The guy needs to get rid of it...and I have cash to give him now. The lot is actually one of those Dodge/Jeep dealerships that is being dropped because of the bankruptcy....this Miata was a Trade-In...so the dealership may have gotten this for a pretty good deal...but who knows.

As I said...we don't have to buy this...so if he isn't willing..then I'll get over it. I'll keep you guys updated on what he comes back with.

I hinted at it in my previous post, but here are some concrete numbers to give you an idea of what the cars are going for at auction.

Above Average Below
Miles 7,650 15,300 22,950
Price $17,189 $15,417 $13,645

And some recent transactions:

06/19/09 MANHEIM Lease $18,000 13,499 Above WHITE 4G P No
06/19/09 MANHEIM Lease $16,300 13,858 Avg MDRED 4G 6 Yes
06/19/09 LAUD/MIA Factory $16,200 3,088 Avg GREE/35K 4G 6 Yes
06/19/09 LAUD/MIA Lease $15,300 28,534 Avg RED 4G A Yes
06/19/09 LAUD/MIA Lease $15,000 24,396 Avg GRAY 4G A Yes
06/19/09 LAUD/MIA Factory $15,000 4,935 Avg CREA/A5M 4G 6 Yes
06/19/09 LAUD/MIA Lease $13,800 25,664 Below GRAY 4G 6 Yes
06/18/09 MISS Lease $11,600 29,176 Below RED 4G 6 No
06/18/09 GTR TMPA Lease $16,600 7,335 Avg RED_A4A 4G O Yes
06/17/09 SEATTLE Lease $17,400 11,687 Above LTGREY 4G A Yes
06/17/09 GTR N.O. Regular $14,400 16,862 Below RED 4G 6 Yes
06/16/09 STATESVL Regular $14,000 43,321 Below SILVER 4G 6 Yes
06/16/09 ST LOUIS Regular $15,100 13,233 Avg GREY 4G 6 Yes
06/16/09 OHIO Lease $16,800 15,998 Above MDRED 4G 6 Yes
06/16/09 OHIO Lease $16,100 11,700 Avg BLACK 4G 5 Yes
06/16/09 OHIO Lease $16,000 13,532 Avg COPR RED 4G 6 Yes
06/16/09 OHIO Lease $12,800 16,478 Below MAROON 4G A No
06/16/09 MINNEAP Lease $16,000 8,437 Avg RED 4G 5 Yes
06/16/09 GA DLRS Lease $16,300 26,957 Avg CREAM 4G A Yes
06/16/09 GA DLRS Lease $16,200 15,091 Avg CREAM 4G 5 Yes
06/16/09 FAAO Lease $15,200 16,480 Avg MAROON 4G 5 Yes
06/16/09 FAAO Lease $15,100 7,469 Avg BLUE 4G A Yes
06/16/09 FAAO Lease $15,000 18,113 Avg WHITE 4G 5 Yes
06/16/09 FAAO Lease $15,000 11,940 Avg SILVER 4G 5 Yes
06/15/09 MISS Lease $16,300 21,696 Avg MDRED 4G A Yes
06/12/09 MANHEIM Regular $17,000 2,478 Above GRAY 4G A Yes
06/12/09 MANHEIM Lease $16,800 12,258 Above LTWHITE 4G 6 Yes
06/12/09 MANHEIM Regular $15,600 24,166 Avg COPPER 4G A Yes
06/12/09 MANHEIM Regular $14,500 29,816 Avg SILVER 4G Yes

The miata is a very seasonal car, which means the price varies greatly depending on whether the dealer is buying one in the winter and the summer. If he got it sometime in the cooler months there's a good chance that he paid significantly less than the current going auction rate. I'm just giving you these numbers to show you what you're up against. If the dealer can throw the car at the auction and pretty much get a guaranteed $15.5k, you're going to have to give him a much more generous number than that. Even if he's going out of business, he'll be much more interested in moving a car that he's about to take a loss on, than going back and forth with you on a car that he knows he can easily dump on the auction block.

 

[PricklyPete]

Originally posted by: DeviousTrap


The miata is a very seasonal car, which means the price varies greatly depending on whether the dealer is buying one in the winter and the summer. If he got it sometime in the cooler months there's a good chance that he paid significantly less than the current going auction rate. I'm just giving you these numbers to show you what you're up against. If the dealer can throw the car at the auction and pretty much get a guaranteed $15.5k, you're going to have to give him a much more generous number than that. Even if he's going out of business, he'll be much more interested in moving a car that he's about to take a loss on, than going back and forth with you on a car that he knows he can easily dump on the auction block.

Thanks a lot for the info...maybe I'm a bit presumptuous on what I can get it for. I would definitely be getting it way under KBB regardless. I need to set my "nothing more than this" mark before I start negotiating (if we decide)...so maybe it needs to be closer to 16K than 15K if I have any hope of getting it. Decisions, Decisions.

 

[MiataNC]

Check out my username here on the forums

BUY IT!!!!

I drive an RX-8 now, and as amazing and satisfying as it is, I still miss my 2007 Touring MX-5. I will be getting track Miata in a couple of months to share garage space with my RX-8.

The MX-5 is a drivers car. It is impossible to describe how satisfying it is to toss into turns or to just cruise with the top down.

I HIGHLY recommend the MazdaSpeed springs and sway bars if you pull the trigger on the NC you are looking at. The NC sits too high, and is too lightly sprung from the factory in order to appeal to a broader audience. With the MS springs and sways it handles like a go-kart and still retains a smooth ride with telepathic handling.

 

[PricklyPete]

Originally posted by: MiataNC

I HIGHLY recommend the MazdaSpeed springs and sway bars if you pull the trigger on the NC you are looking at. The NC sits too high, and is too lightly sprung from the factory in order to appeal to a broader audience. With the MS springs and sways it handles like a go-kart and still retains a smooth ride with telepathic handling.

Thanks for the input...sounds like something I'd like to do eventually if we end up buying it. I figure this car can be a track/weekend toy in a few years when we start having kids and my wife needs something more practical.

 

[PricklyPete]

Originally posted by: ballmode

Originally posted by: thedarkwolf
I drive my 94 daily. Its by far the most fun car I have ever owned. It actually has a decent sized trunk so trips to the grocery store and things aren't really a problem. On those days when I do need more space I have beater dodge caravan and you have a truck. What I am saying is get it and keep using your wife as an excuse to why you are driving it if your buddies give you crap . They are reliable little boogers too.

I got a 2001. I added HID lights to the projectors. www.miata.net is a good source of info.

If you do get that NC (chassis code) a header and exhaust will add about 35 hp to the wheel, they are really bottled up.

Add a suspension and you could be roadracing with the best cars and hang with them or pass them until the straights.

But since it seems more like a weekend car... it won't matter. That car is reliable, fun, cheap to insure and parts are super cheap. Lightweight = FUN in today's world of heavy cars. 2400lbs is a blast to toss around corners. If you hit anything parking that thing you should have your drivers license taken away because its so small and easy to steer haha.

I love mine but I hate it at the same time for the long highway trips can be straining. The NC however is more roomy, quieter and if you get that folding hard top its great to take away the wind noise and don't have to worry about roof leaks.

The NC has a multilink rear suspension which is very superior for handling and suspension components.

Thanks for all of the info. I actually had checked out the miata.net forums just to get an idea about ownership and they seem like a pretty good crowd. I can imagine how much fun that extra 35 hp at the wheel could be...it already was entertaining at stock.

We would be using this for fairly long highway trips every once in a while...so that is something to think about.

 

[PricklyPete]

On a side note...I just checked with my insurance on how much more a 2007 Mazda MX-5 will cost over a 2004 Honda Civic (LX...essentially base model) with 100K miles on it. Their answer.... $60 every 6 months. God I hate Civic insurance prices.

 

[StageLeft]

I think when people sell miatas they generally regret it. Can you buy this and keep it indefinitely? Do you have the room, even when you get a third car with kids?