dorfer_09

Just wondering if you guys could help me be better prepared. I thought some of you might have some experience with this.

I found an 05 Rx8 that I wanted to purchase...list price $10,150
they offered me $5,200 for my Mazda 6 on trade.

I was looking at financing the difference, thinking the payments would be fairly low, but they are coming back at $129 bi weekly for 36 months, that works out to close to $10,000. Can anyone tell me how that is possible? It just doesn't seem right to me.

godesshunter

How much of the payment is going to principal?

davidgaddy

It sounds like a high interest loan but if you want it and it makes you happy go for it.

Speed_8

remember, if you car is going on trade, you subtract the amount of the rx8, from your trade then add tax, to me it looks like your interest rate is around 33%. so unless you have terrible credit, you should walk away from them, and maybe even... nvm just walk away

dorfer_09

I have good credit, and the interest rate isn't that high. It is apparently around 4.9%. The problem is this is all done over phone and email and I can't see the breakdown in front of me. I think they have tacked on some other things onto the price of the vehicle.

AZ R3

Don't they charge Moose Tax in Canada?

For srs: Listen carefully to the dealership commercials. Tax, title, license and dealer fees extra. Expect a $500 doc fee, tax, however much it costs to tag the car for a year, and they are probably trying to sell (and some banks require it for an old and/or high mileage car being financed) some kind of extended warranty.

rx8-druggist

^ In Ontario the law requires dealers to abide by "All-in pricing" as in the price they tell you includes all mandatory fees already - the only thing they can make you pay on top of that is taxes. Anything else is optional. If not you can file a complaint.

Typically if you're not happy with the interest rate the dealer offers its worth seeing if your bank will give you a loan ; if you have great credit and your bank likes you the interest on a bank loan would be less than what the dealer offers.

AZ R3

Canada kicks ***.

Boeuf

iTrader: (2)

Keep in mind we get taxed like crazy on just about everything.
I was just in Florida last week and it still blows my mind how cheap alcohol and tobacco is.

Matrx8

iTrader: (2)

We should make a deal. You trade us meds, we'll trade you booze and smokes.

Sycoa

Not to mention that the RX-8 started at almost 10000 more than the exact same car you could buy across the border if I do remember correctly

dorfer_09

Hey Guys, any input on these 2 vehicles.
I like the 2005 because it is a little newer, but the 2004 has less kms

http://www.carpages.ca/used/2004/Maz...Ontario/968185

http://www.carpages.ca/used/2005/Maz...Ontario/953848

livelycorpse

iTrader: (1)

The 04 at first auto was test driven by a buddy of mine before he bought elsewhere. I am always in the area and that car has been there for quite a while. On his test drive the car seemed to run ok and has the HKS tips at least if not full exhaust by the sound, BUT it definitely hesitated on startup when hot and the idle was quite rough. Take with this info what you will. Personally I would test drive any you are seriously thinking about and get a compression test before finalizing anything. I love my car (05) but I was quite lucky to find one in such good shape. Had I found one with a compression failing engine or any number of other quirks the car is capable of having I would probably have hated it as quickly as loved it. Don't wanna sink a huge financial investment into a car, any car, to find that shortly after you have to sink another 4k. All used cars have a story.

maitre

iTrader: (1)

Also keep in mind: at least half of what you spend on this car will vanish. Do not expect any reasonable sort of financial turnaround on an RX8. :P

jordanito

I am about to buy an rx8 myself and I was wondering if the car comes safe and E-tested does that mean its good to go?

Thief

Boo to your booze. Yay to your smokes.

RXeckless

iTrader: (5)

I'll take the booze, nay to smokes. So it's a deal!

dorfer_09

Just wondering if anyone here traded this car into Yorkdale Dufferin Mazda.
They had said it was traded in locally on a new RX8.
Just thought I might get lucky and the person who traded it in was on here.

2004 Mazda RX-8 GT-MANUAL-ROOF-LEATHER - For Sale | TORONTO ON

maitre

iTrader: (1)

Forgot to mention (and this is much more relevant than my first post!) I bought mine from a dealer with a high-interest loan as well. But the loan was open, and I had the cash to spare, so I was able to buy out the loan after a few months. Presumably saved me a few grand. Realistically if you want to finance just a few thousand, a bank loan (e.g. line of credit or something) is your best bet. If your credit is so bad that you can't get a bank loan, then you're stuck with high interest!

I don't think very many of us in the club did/would trade in on a new RX8. I've toyed with the idea, and my conclusion is, it would have to be a really REALLY good price to make me cave!

Anyway, nothing looks bad about that one. Have you been for a test-drive yet? :D