04 grand touring with NAV 6spd, trade in value $22,900. For those of you of haven't bought one yet, buy a used one with low miles...... :D

 

Trading in ANY new vehicle in the first couple of years of production is a sure fire way to lose money. You should have already known this.


I traded in a 2001 Alero to buy the 8. I paid 23k for the Alero fully loaded and I traded it in for 6k in 2003...

The RX8 loss doesn't sound so bad to me! :D

Also, you can usually make alot closer to actual retail in a private sale.

 

Welcome to reality...trade in value on ANY four-month-old car is horrible.
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doc

 

I always sell My trade out right in the classifieds. You'll get alot more for it.

 

I have been looking to trade my 8 in for a M3 and I was offered $23,000 at the most for the 8. I paid $29,000 and I have had the car for five months. Another dealership quoted me at only getting $18,000 for the 8 from anybody. I quickly left.

 

22,900 out of what - 28,000? - is pretty good.

Try buying a $28,000 Chevrolet and sell it.. I'm sure you'd get under $20,000 for the Chevy.

Only cars to hold nearly 100% is Honda; true story when I went with a friend to buy a Civic EX:

2003 brand new model Civic EX: $15,000
2001 used model Civic EX, 30k miles: $14,500

Hondas are just beyond the scope of normal rules. The RX-8 or Mazda in general seems to do fine.

 

Nadaguide does not even have a retail/trade in value for the Rx8 yet, so if you werent comfortable with that price you shouldnt of sold it.

 

part of the problem is people are able to buy brand new 2004's for $3500 under invoice. Your 28,000 car (dealer invoice, not MSRP) can be had new for $24,000.

 

Actually the RX-8 is generally predicted to hold its value well relative to other cars...if you are at 50% of value in Year 5, you are doing good. As others have said, trading a "new" car only months after buying is a recipe for disaster since most of the value is lost in the FIRST year...

http://www.fortwayne.com/mld/journal...ss/9646028.htm

"Here, in alphabetical order, is Kelley Blue Book’s overall top-10 list for 2005 models that will do the best job of holding their value: Acura TL, BMW 5-Series, Infiniti G35 coupe, Lexus GX470 sport utility, Mazda RX-8 sports car, Mercedes-Benz CLK 320 Cabriolet, Mini Cooper, Nissan 350Z, Porsche Cayenne sport utility and the Volvo XC90 crossover sport utility/wagon."

 

I got $22,000 for trade in for my '04 AT with the Sport pkg at 9300 miles when I bought my '05 Ford Escape XLT Sport AWD. That was out of the $24,999 I paid for mine when it was new 10 months ago. I thought that was pretty damn good and I was looking at far worse. I would try another dealer or try to sell it outright.

 

Not to forget that when the dealer gives you $22,000, he turns around and puts it on the lot for $25,000. And maybe selling it for $23,500.

The dealer will pay wholesale, and sell retail. It's normal.

FWIW, if you have an '04, the '05 is out. You have to count 1 year's worth of depreciation even if you owned for 4 months.

 

Motortrend said that the 8 was in the top 5 for trade-in value. At 1st it was above the Audi. But I guess now it's different. I always assumed it was good. Is it only low for the low options or for a fully loaded one aswell

 

For anybody to trade in a car for the 1st year are bound to lose money!! anycar!! average about 20% for the first year then it goes down after that. SO dont trade in your car during hte first year

 

Actually, I had an 2000 MR2 spyder, I had it for 10 months. I bought it for 22,300 and at the time I wrecked it, I looked up the blue book on it, and it said 26,000 misprint? could be.

 

You guystalk about this like youre surprised. Its a Mazda not a Benz. Ofcourse trade in value isgoing to be pathetic. Sell it yourself and youll get a couple grand more.

 

Looked it up on http://www.kbb.com -- trade-in value assuming 5k miles and excellent condition, $25,150. Same parameters, private party sale, $29,130.

--SL01

 

Trading in anyhting is horrible. I had a 95 Volvo 850 Turbo. Dealer offered me 700. I laughed as I walked out. Blue book was 7500. Sold it for 5500 in 3 days.

Remember, car dealers are in the business of making money. I know they act like taking your trade is a public service, but 9 times out of 10 the make more money off your trade in than selling you the new car.

 

ya i know a lot of dealers i called quoted me 20k if the car is mint and obviously its not its got to have something after 1 year of daily driving

 

i traded in a 2001 explorer that had a sticker price of 33000 and got 8 or 9 for it

 

The most pathetic car I had was an 04 Pontiac Grand AM. It lost 50% value the very minute I drove it off the lot. I am so mad at GM, mostly GMAC. They treated me like low life and told me rather boldly, THEY OWN THE CAR, ITS THERE CAR. It was a lease I had for 5 months. Traded it in for the 04 RX-8. The car was made so cheap the carpet developed a heel rub through after one month. The car had 6 thousand on it when I unloaded it. We hated the car so much we would have almost bought a GTO to get rid of it. The car will only last about 4 years. My credit union told me to unload it by October or the car will lose another $1,500. I lost about 12,000 on that car and it made my RX regular loan (no lease) upside down. I intend to keep the RX for a long time. The RX-8s in Colorado used are selling at about what a new one cost. Yes, the trade-in value is usually about $3,000 or $4,000 under what the dealer will sell it for on their lot or they can auction the car away. Its only metal and a business deal to them. If you want a quality car then keep the RX and don't bother with trade-in value. If you normally like a new car every 3 or 4 years or less than lease it.

 

100% agreed. Question: why after learnt your lesson on Pontiac or GM even consider the GTO? Because the GTO is built in Australia?

I learnt the same lesson but at least I got 97k miles out of my (GM Pontiac) Firebird: Nevery again buy Pontiac or GM or any American car, for that matter.

 

I mentioned the GTO thinking GM would discount that car so much that I could get a better deal than an RX. GTO has nice off the line movement which falls apart on the twisties. After I reviewed how the GTO handles, its interior GM junk and the fact that if one buys the Auto they pay a hefty gas guzzler tax! of $1,000. Yes, I am finished with GM unless they wake up which may be too late already. The only GM I have now is a 57 Chevy 4 DR auto. Black with black and red interior, original V8 283 and drives like a truck. LOL

 

My 2001 alero was falling apart at 65k when i traded it in in 2003 for the 8.

Bad struts, been thru 2 brake jobs, handled like CRAP..

 

I bought my 2001 Grand AM SE for 25K Cdn , the Mazda dealer is only offering me 8K on a trade in. The car only has 61K Km on it. Ridiculous. Never GM again. IN 3 years, I've had to do 2 complete brake jobs on it.
I could probably get 11K private sale, but that is its own world of hassle.

 

daddyg. I got $11,000 for my 04 Pontiac Grand AM with only 6k miles on it!!! If you were offered $8k for an 01 I would have taken it. Its better to sell it privately. Yes, I hate GM for this and producing a basic piece of junk. I was helping out one of my kids is how I got into the GM nightmare. The car's carpet developed a heel rub through the carpet in one month, the plastic is cheap rental car grade and the seat covers were the worst I have ever seen. One would be lucky to have any seat material left after 3 years. I put covers on it and got rid of the car after 5 months for the RX. Talk about a major change in car quality.