What is your RX-8's value now ?
02-09-2004, 11:15 PM
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What is your RX-8's value now ?
I still very much enjoy my RX-8 after 7 months of trouble free ownership but was wondering how much it is worth now, just in case I wanted to trade it in for something else, or a private party sale?
Like most of you early buyers I paid full MSRP, about $31.5K (Grand Touring, no NAV option).
Kelly Blue Book has no value for the RX-8 yet. My best guess is:
Trade-in: $24,000
Private Party: $26,500
Agree, disagree?
Like most of you early buyers I paid full MSRP, about $31.5K (Grand Touring, no NAV option).
Kelly Blue Book has no value for the RX-8 yet. My best guess is:
Trade-in: $24,000
Private Party: $26,500
Agree, disagree?
02-10-2004, 07:30 AM
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$4.00 a mile to drive a car for 3 months? You should have checked out a car-rental company. I think you could have done better. I'm sure there were some extenuating circumstances but DANG that sounds like a hickey from hell.
02-10-2004, 07:43 AM
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Priceless ? - But in reality 7 month GT probably $22K private sale - Sorry - but you could have a 2001 SLK320 - $49K off the lot now perhaps $20K. Sports cars lose $$$ in first 2 years - period. Just MHO.
02-10-2004, 09:18 AM
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Cars (regardless of make and model) are a craptastic investment. If someone is worried about long term gain, buy some property somewhere, or invest in a decent-yield financial investment.
02-10-2004, 09:18 AM
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The two that I've seen for sale used have been fully loaded GTs w/o nav- both going for $29,998. I know at least one of them has been sold, and the other hasn't been there that long so give it time and I'm sure it'll be gone too. The first had 3k miles, the second 5k.
02-10-2004, 09:52 AM
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The problem is that dealers seem to be giving $1,500 discounts, which takes a $31,100 MT/GT down to $29,600. Plus there are a bunch of cars still on the lot.
Makes it hard to sell a used 8 for more than $27K-$28K retail.
Not that I want to ...
Makes it hard to sell a used 8 for more than $27K-$28K retail.
Not that I want to ...
02-10-2004, 11:29 AM
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Originally posted by msrecant
The problem is that dealers seem to be giving $1,500 discounts, which takes a $31,100 MT/GT down to $29,600. Plus there are a bunch of cars still on the lot.
Makes it hard to sell a used 8 for more than $27K-$28K retail.
Not that I want to ...
The problem is that dealers seem to be giving $1,500 discounts, which takes a $31,100 MT/GT down to $29,600. Plus there are a bunch of cars still on the lot.
Makes it hard to sell a used 8 for more than $27K-$28K retail.
Not that I want to ...
Up here in the great white north you can only get that discount if you go through a credit union. Otherwise your talking MSRP or a little less.
02-10-2004, 12:55 PM
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Well, this thread had potential... why people feel compelled to post answers to the unasked question "Are you willing to sell your car?" I don't know...
The best I can do to find out what a used RX-8 is worth is to look at what's going on in eBay.
2004 Mazda : RX-8 GRAND TOURIN with 5,000 miles went for $28,000 on Feb. 3, 2004, down from MSRP of $34,470.
2004 Mazda : Other Models RX-8 with 3427 miles and MSRP of over $34,000 drew bids up to $27,700 but didn't sell.
2004 Mazda : Other Models RX 8 (AT) Touring Pkg. with 1500 miles has not been sold at $27,000.
That's depressing for those of us that bought the car new... good news for those looking to pick one up way under retail.
The best I can do to find out what a used RX-8 is worth is to look at what's going on in eBay.
2004 Mazda : RX-8 GRAND TOURIN with 5,000 miles went for $28,000 on Feb. 3, 2004, down from MSRP of $34,470.
2004 Mazda : Other Models RX-8 with 3427 miles and MSRP of over $34,000 drew bids up to $27,700 but didn't sell.
2004 Mazda : Other Models RX 8 (AT) Touring Pkg. with 1500 miles has not been sold at $27,000.
That's depressing for those of us that bought the car new... good news for those looking to pick one up way under retail.
02-10-2004, 02:15 PM
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Unfortunately, there is nothing anyone can do about this. Cars usually loose between 10-15% as you drive then off the lot, unless the demand is huge. With RX-8's sitting in lots, the depretiation bug will for sure bite the RX-8 in the (you know where).
Approximately, for the first two years a new car will loose about 10-15 (maybe more for some less desirable cards) every year - definitely not pretty!
Is a fact of life. As someone already posted, cars like the RX-8 are not exotic enough to hold value (like say a Ferrari) and are terrible investments.
That, however, does not mean that we should not buy the cars we like and enjoy driving. After all, life is too short - why drive a piece of (you know what) econocar when one could drive a nice sports car?
Approximately, for the first two years a new car will loose about 10-15 (maybe more for some less desirable cards) every year - definitely not pretty!
Is a fact of life. As someone already posted, cars like the RX-8 are not exotic enough to hold value (like say a Ferrari) and are terrible investments.
That, however, does not mean that we should not buy the cars we like and enjoy driving. After all, life is too short - why drive a piece of (you know what) econocar when one could drive a nice sports car?
02-10-2004, 02:51 PM
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[Quote)
That, however, does not mean that we should not buy the cars we like and enjoy driving. After all, life is too short - why drive a piece of (you know what) econocar when one could drive a nice sports car? [/B][/QUOTE]
My thoughts exactly and that's why I bought an rx8 for my wife (I drive it too). Life is too short and I'm gonna enjoy every mile of it. That decided after I experienced cardiac arrest 7/8/03. Besides my wife deseves this car after all the worry I put her through.
That, however, does not mean that we should not buy the cars we like and enjoy driving. After all, life is too short - why drive a piece of (you know what) econocar when one could drive a nice sports car? [/B][/QUOTE]
My thoughts exactly and that's why I bought an rx8 for my wife (I drive it too). Life is too short and I'm gonna enjoy every mile of it. That decided after I experienced cardiac arrest 7/8/03. Besides my wife deseves this car after all the worry I put her through.
02-10-2004, 11:14 PM
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Check out www.intellichoice.com, which has rated new vehicle ownership cost (depreciation, insurance, gas, repairs, etc), and compares the each vehicle by class. Our class is called Base Sport.
Our RX-8 was given their highest rating of 'Excellent'. The 350Z & S2000 did not fare as well.
No worries -- we've done well for an affordable Sports Car.
Our RX-8 was given their highest rating of 'Excellent'. The 350Z & S2000 did not fare as well.
No worries -- we've done well for an affordable Sports Car.
02-11-2004, 12:02 AM
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I went to about 4 different places to check how much I can get for my rx-8 GT and the best I was able to get was $24k. I was pretty disappointed.
To think that in only 3months with around 2k miles. I loss $7k.
If I calculate including tax (so. cal) The loss is around $11k.
My head hurts just thinking about it.
To think that in only 3months with around 2k miles. I loss $7k.
If I calculate including tax (so. cal) The loss is around $11k.
My head hurts just thinking about it.
Last edited by meeh; 02-11-2004 at 12:04 AM.
02-11-2004, 12:41 AM
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Goh Mifune
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Am I correct that your buyer generally incurs a sales tax obligation when the car is sold for cash, but that there is no tax on the trade-in if the car is exchanged at a dealer?
02-11-2004, 07:24 AM
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Originally posted by MEGAREDS
Am I correct that your buyer generally incurs a sales tax obligation when the car is sold for cash, but that there is no tax on the trade-in if the car is exchanged at a dealer?
Am I correct that your buyer generally incurs a sales tax obligation when the car is sold for cash, but that there is no tax on the trade-in if the car is exchanged at a dealer?
And I wouldn't rely too much on eBay. Buying a car off eBay isn't always easy or safe, and many dealers find it hard to sell on ebay, so, while you can get a good deal, you're not going to find the same anywhere else.
As for trade in value, don't forget that being offered $24k for your car means they're going to turn around and sell it for quite a bit more, in this case between $28-29k. You'd do better to gauge the resale value by trying to sell it on your own. Might take a while, but you'd get more back.
meeh- was the car you sold to CarMax the black or the silver?
02-11-2004, 12:13 PM
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Slightly off topic but I have never sold a car that has been financed (i am not selling my 8
. How does the selling process work? I mean when you sell the car on which you still owe money and the the title is still with your bank thats the lien on it.
. How does the selling process work? I mean when you sell the car on which you still owe money and the the title is still with your bank thats the lien on it.