hmmmm....get a new car?

[Gibson486]

CLiffs:

-Guy at my apt offered 13.5K for my 07 3 hatch, no extras. I was wow. I mean, it has 50K on it. He just came up and offered me this out of the blue. I have no plans on selling my car.
-I can get a new 3 hatch (manual) for high 16K.
-I have $4k left of payments on the car and will pay if off in one year (0% interest ).
-Do I enjoy being payment free after the year? Or do I take a minor hit and buy a new car?

 

[Saga]

Pretty much no matter how you look at it, buying new is kinda retarded.

 

[ayabe]

Well if you aren't itching to get something new or aren't having problems with your car, why sell?

Especially to go from the old 3 to the new, I mean is the smiley face worth thousands?

 

[Gibson486]

Originally posted by: ayabe
Well if you aren't itching to get something new or aren't having problems with your car, why sell?

Especially to go from the old 3 to the new, I mean is the smiley face worth thousands?

yeah, I test drove when when they first came out...felt like the same car, new clothes... I was just thinking in terms of having close to 0 on the OD. But yeah, I love my car....it was just a thought.

 

[Alienwho]

Honestly it may not be a bad idea. Sure it's only an 07 which is new, but with 50,000 miles it may not be to long before you have to drop $2k in repairs which would make up the price for a new car. That plus 0 miles and a new bodystyle...tempting. This coming from a guy that would never buy a brand new car.

 

[69Mach1]

I've never bought a new car because of the huge hit in value it takes in the first year, but this seems tempting. I LOVE having 0 payments though. It would require that the person buying your old car have cash, and favorable terms on the new one to get me to bite though.

 

[StageLeft]

Your neighbor sounds retarded, that car can't possibly be worth that, but if he really would pay for it, yeah I'd take it.

 

[blipblop]

If you are able to get 13.5 for it, take it.

 

[adlep]

Originally posted by: Skoorb
Your neighbor sounds retarded, that car can't possibly be worth that, but if he really would pay for it, yeah I'd take it.

Ditto.

1. Sell him the car.
2. Get a new one.
3. Finance the difference for 36 months.
4. You may also be able to get a slightly used 09 already.
5. You may be able to get a low miles 07 Accord or 08 Fusion for around $13k though...

 

[Gibson486]

Originally posted by: adlep

Originally posted by: Skoorb
Your neighbor sounds retarded, that car can't possibly be worth that, but if he really would pay for it, yeah I'd take it.

Ditto.

1. Sell him the car.
2. Get a new one.
3. Finance the difference for 36 months.
4. You may also be able to get a slightly used 09 already.
5. You may be able to get a low miles 07 Accord or 08 Fusion for around $13k though...

yeah, I am actually thinking about trading it in and getting a slightly used one with a sunroof. I looked around today on the internet and dealers are selling them for 16K with 43K on the OD.

 

[Kelvrick]

Originally posted by: Gibson486

Originally posted by: adlep

Originally posted by: Skoorb
Your neighbor sounds retarded, that car can't possibly be worth that, but if he really would pay for it, yeah I'd take it.

Ditto.

1. Sell him the car.
2. Get a new one.
3. Finance the difference for 36 months.
4. You may also be able to get a slightly used 09 already.
5. You may be able to get a low miles 07 Accord or 08 Fusion for around $13k though...

yeah, I am actually thinking about trading it in and getting a slightly used one with a sunroof. I looked around today on the internet and dealers are selling them for 16K with 43K on the OD.

So you'd pay 2.5k for a sunroof and 7k mile rollback? And to a car that may or may not have some underlying problems?

Personally, I'd keep it unless you're going to get a car that differs from yours a bit more. Maybe you're moving to a wrx for awd, or more power in a used sti, maybe a larger car, one with better mileage but not something that is essentially the same.

 

[InflatableBuddha]

Originally posted by: Gibson486

Originally posted by: adlep

Originally posted by: Skoorb
Your neighbor sounds retarded, that car can't possibly be worth that, but if he really would pay for it, yeah I'd take it.

Ditto.

1. Sell him the car.
2. Get a new one.
3. Finance the difference for 36 months.
4. You may also be able to get a slightly used 09 already.
5. You may be able to get a low miles 07 Accord or 08 Fusion for around $13k though...

yeah, I am actually thinking about trading it in and getting a slightly used one with a sunroof. I looked around today on the internet and dealers are selling them for 16K with 43K on the OD.

You would take a hit of a few thousand to get a slightly less used one with basically the same amount of mileage? (50k vs 43k) Seems kind of dumb to me. If you take your neighbour up on the offer, it should be because you want to go brand new. Otherwise don't bother.

 

[zinfamous]

Originally posted by: Gibson486

Originally posted by: ayabe
Well if you aren't itching to get something new or aren't having problems with your car, why sell?

Especially to go from the old 3 to the new, I mean is the smiley face worth thousands?

yeah, I test drove when when they first came out...felt like the same car, new clothes... I was just thinking in terms of having close to 0 on the OD. But yeah, I love my car....it was just a thought.

yeah, the 2010 hatch looks retarded. 07-09 = sweet.

are you still on warranty for your 07?

 

[Gibson486]

Originally posted by: InflatableBuddha

Originally posted by: Gibson486

Originally posted by: adlep

Originally posted by: Skoorb
Your neighbor sounds retarded, that car can't possibly be worth that, but if he really would pay for it, yeah I'd take it.

Ditto.

1. Sell him the car.
2. Get a new one.
3. Finance the difference for 36 months.
4. You may also be able to get a slightly used 09 already.
5. You may be able to get a low miles 07 Accord or 08 Fusion for around $13k though...

yeah, I am actually thinking about trading it in and getting a slightly used one with a sunroof. I looked around today on the internet and dealers are selling them for 16K with 43K on the OD.

You would take a hit of a few thousand to get a slightly less used one with basically the same amount of mileage? (50k vs 43k) Seems kind of dumb to me. If you take your neighbour up on the offer, it should be because you want to go brand new. Otherwise don't bother.

no....I am not gonna buy it for that price. I am just using that price as a setpoint for selling that car. If i were to buy a slighty used, I'd aim for no hit at all or atleast try to come out ahead and finance less than what I have now.

 

[zinfamous]

Originally posted by: Skoorb
Your neighbor sounds retarded, that car can't possibly be worth that, but if he really would pay for it, yeah I'd take it.

pretty much. an 07 hatch with 50k miles could "maybe" be had for ~12k in my area with proper negotiating. He'd still end up paying taxes and what not, but that's a decent offer up front.

is yours 2.3L?

 

[Gibson486]

Originally posted by: zinfamous

Originally posted by: Gibson486

Originally posted by: ayabe
Well if you aren't itching to get something new or aren't having problems with your car, why sell?

Especially to go from the old 3 to the new, I mean is the smiley face worth thousands?

yeah, I test drove when when they first came out...felt like the same car, new clothes... I was just thinking in terms of having close to 0 on the OD. But yeah, I love my car....it was just a thought.

yeah, the 2010 hatch looks retarded. 07-09 = sweet.

are you still on warranty for your 07?

yup, 10K left on warrenty.

 

[zinfamous]

http://sfbay.craigslist.org/sby/ctd/1283952400.html

this looks rather sketchy for mileage + price, but Carfax checks out (no salvage, previous rental, sold at auction in May) at least...

most dealers are advertising the s hatchback ~15-16k though.

 

[JulesMaximus]

Originally posted by: Saga
Pretty much no matter how you look at it, buying new is kinda retarded.

How do you figure? I bought my car new and got almost $5k off MSRP and 1.9% financing on it for 5 years. It is paid for now and I'm the only one who has owned it so I know how it has been maintained from day one. I'd do it again in a second.

 

[Gibson486]

Originally posted by: JulesMaximus

Originally posted by: Saga
Pretty much no matter how you look at it, buying new is kinda retarded.

How do you figure? I bought my car new and got almost $5k off MSRP and 1.9% financing on it for 5 years. It is paid for now and I'm the only one who has owned it so I know how it has been maintained from day one. I'd do it again in a second.

who knows. people just like saying it. My gf got 6K off MSRP on her corolla and she got low financing. I am pretty sure that if she put that car on the market in 2 years, she would still come out ahead.

I paid 17.6K for my 3, but I got 0% financing. While I am leaning towards keeping it, if I sold it it to that guy, it would almost be like me leasing it very cheap for 2 years.

 

[Gibson486]

Originally posted by: zinfamous
http://sfbay.craigslist.org/sby/ctd/1283952400.html

this looks rather sketchy for mileage + price, but Carfax checks out (no salvage, previous rental, sold at auction in May) at least...

most dealers are advertising the s hatchback ~15-16k though.

that is probably the "bottom line price". In other words, no negotiations, but if you went to the dealer to see teh car, it would have a higher price on it. The 15-16K is the sticker price of the other places.

 

[Saga]

Originally posted by: JulesMaximus

Originally posted by: Saga
Pretty much no matter how you look at it, buying new is kinda retarded.

How do you figure? I bought my car new and got almost $5k off MSRP and 1.9% financing on it for 5 years. It is paid for now and I'm the only one who has owned it so I know how it has been maintained from day one. I'd do it again in a second.

Simple rules of depreciation. Driving it off the lot is essentially 10-15%. I go through daily drivers every 1-2 years, I always buy used with anywhere from 15-20 on the clock, sell around 30, usually only lose 2-5% of the value. Had I bought new and done the same 10k I would have lost 15-25% of the value on the average car.

My grandfather always said, never buy a used car, and never buy a Ford. One out of two isn't bad.

 

[npoe1]

Personally my car is more than a mean to get me from point A to point B. knowing how it has been taken care gives me a lot of mental peace. It definitively depends on how you look at cars and so far Ford has gave me good experiences.

 

[Gibson486]

Originally posted by: Saga

Originally posted by: JulesMaximus

Originally posted by: Saga
Pretty much no matter how you look at it, buying new is kinda retarded.

How do you figure? I bought my car new and got almost $5k off MSRP and 1.9% financing on it for 5 years. It is paid for now and I'm the only one who has owned it so I know how it has been maintained from day one. I'd do it again in a second.

Simple rules of depreciation. Driving it off the lot is essentially 10-15%. I go through daily drivers every 1-2 years, I always buy used with anywhere from 15-20 on the clock, sell around 30, usually only lose 2-5% of the value. Had I bought new and done the same 10k I would have lost 15-25% of the value on the average car.

My grandfather always said, never buy a used car, and never buy a Ford. One out of two isn't bad.

you cannot apply that todays market. You can get 6K off of MSRP. That is way below the 10% threshold. You do the math....lok at a used jap. econo box. like the corolla. New 2010 LE can be had for 14K. Used 08 LE with 20K on teh OD is 15K.

 

[thomsbrain]

Your new 3 won't cost $16K, it will cost $20K, plus TTL, because you'll have to roll your old loan into the new one. Your new loan will be roughly $22,000 for what is basically the same car with a nose job. You'll basically be paying two car loans and will only own one car. Still sound like a good deal? Didn't think so.

 

[Gibson486]

Originally posted by: thomsbrain
Your new 3 won't cost $16K, it will cost $20K, plus TTL, because you'll have to roll your old loan into the new one. Your new loan will be roughly $22,000 for what is basically the same car with a nose job. You'll basically be paying two car loans and will only own one car. Still sound like a good deal? Didn't think so.

nah, I did the math.....with everythign all said and done, here are the numbers:

new mazda 3 hatch = 16,500 + ttl (ends up around 17.6K)...this is an actual offer.
selling my mazda = 13.5K
current loan amount = 4.2K

17.6K
-13.5K
+4.2K payoff
---------
8.3K loan @ 3.5%

Does not matter though, because I am leaning towards keeping mine. I will not regret it in 1 year when the car is paid off and I have no more payments.