Trade in value on RX8 is horrible.
#1
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Trade in value on RX8 is horrible.
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
#2
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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.
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.
Last edited by guy321; 10-11-2004 at 10:50 AM.
#5
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.
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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.
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.
#8
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.
Last edited by JasonHamilton; 10-11-2004 at 11:12 AM.
#9
Torque is Good
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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."
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."
#10
"...I'm a Dapper Dan man"
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.
#11
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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.
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.
#12
Turbos blow!!
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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
#13
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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
#14
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.
#15
Stuck in a love triangle
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.
#16
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Originally Posted by maxx25
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
--SL01
#17
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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.
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.
#18
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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
#20
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.
#21
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Originally Posted by Tayninh
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. [..]
almost bought a GTO to get rid of it. The car will only last about 4 years.
[..]
almost bought a GTO to get rid of it. The car will only last about 4 years.
[..]
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.
#22
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
#24
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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.
I could probably get 11K private sale, but that is its own world of hassle.
#25
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.