shahram72

I will probably be buying a used rx-8 in a couple years since they are too expensive for me new. I realize that it's a bit early, but all of the used ones are just as much or more than a new one. Now I test drove a base model which is a loaded car by my standards. I want NO options. I can buy that car new for $25K How many used RX-8's can you find below that? very few. And I will never buy used over new for only a few thousand in savings. When the cars are available for $15K with ~50K miles, then I will buy. I think this will be possible with base models in a couple years. I just don't want to make the payments on the depreciation for 3 years. But even now a used base should only cost $20K. No matter what the miles. Are there crazy people out there spending $30 on used RX-8's. What are they smoking??? I'd rather have a stripped new car than a loaded used car any day.

rxtreme

iTrader: (1)

You are forgetting that dealers frequently add sometimes over 1000 dollars in "hidden" costs to many vehicles. Processing and other dealer fees will float that awesome price up a bit. It doesn't always happen, but I think it happens often enough. Plus, buying a car that only has a couple of thousand miles on it that's 6-12 months old is almost like buying one brand new, anyway. I wish I could have bought my RX-8 one to two years old just to have depreciation take most of its hi during that timeframe. I hate dealing with dealers, anyway.

shahram72

You are right about dealer added charges, but those never get added to the used price, unless the car is ultra exclusive and otherwise unavailable new, like the Thunderbird and the Prius. I personally feel sorry for people who pay a premium for cars on top of the MSRP. I am not wealthy, but very consumer saavy and know what to pay for things. I have very little debt and a lot of net worth for my age and stage in my career. Financing a $30K car just does not fit with my philosophy. I have never paid even close to sticker for a car. I am the complete opposite of many people here in buying habits, but I still like Sports cars, and do not have to have the newest and the best. I would love to have a used Prelude, 300ZX, or 94 Vette right now, but my wife and I just had our first child. The RX-8 is my favorite and I am willing to wait (although that recent test drive makes it hard!) All the people who love to spend their entire paycheck and jump at any chance of easy credit make things difficult for those of us who are frugal. It drives prices up to ridiculous levels sometimes, just look at the cost of new housing in major cities. My point is that most people are dreaming with the used car prices, I've sold many used cars, and know what they're truly worth. And someone who pays $36K for a loaded RX-8 and then expects it to be worth $30K six months later is dreaming as well. Just try to get a loan on a car for more than what it's worth. $30K buys a real nice new RX-8, why would I want one used. I love the base model, and would love to buy a used one for around $15K someday. I'll find someone who is leasing one, and give them $500 over their residual. They turn their car in and get $500 toward their next lease down payment. There's another concept that puzzles me. Why do you make a down payment(a sizeable one at that) on something you rent? To fool yourself into thinking the payments are smaller than they really are? Oh well, their loss is my gain, I guess. I'm not callling people stupid, it's just that many people are confused about wealth. They think it is the attainment of goods, when it really needs to be linked to your net worth. What you own minus what you owe. It's that easy. I will own another sports car one day, and it won't keep me hostage to my job. For now, I will continue to drive my 98 F-150 XL V-6 5-speed with rubber floors and bench seat with 115K miles that runs and looks new from my personal care since it was new. I paid $17500 when it stickered for $20,000. So you see, that base RX-8 really is loaded compared with my truck. The market will cool, 8's are getting more common, it seems.

kurtschwanz

Used car prices, whether they are 4 months old or 4 years old, are pretty much exclusively driven by the Kelly Blue Book, so if someone who paid 36K new and is asking for 30K six months later, it's more likely they're reading than dreaming.

shahram72

Yeah, I like the KBB for values. But the values are driven by actual sales, so someone must be paying these prices. Lots of people with lots of moola(or credit) burning holes in their wallets. Makes life as a cheapskate real tough! I don't mean to come down on what everyone here is asking for theirs, but I would think that any analytical person would do the math and just buy a new one. This happened when we were shopping for a nice used Honda for my wife some years ago. They were likie $12K when new was $16.5K. Well I went ahead and paid 14.5K for the new one. Saving a few thousand did not make sense in this case. If i were buying an 8 today, I would buy over the internet new for invoiceor a bit more, even if I had to drive 100 miles to pick it up.

rxtreme

iTrader: (1)

I agree with you guys to some extent. I bought a first year model and it was brand new; 2 things I usually don't do. But it was an RX-8 and it was cool as hell driving around in something that exclusive at the time.

It's funny you guys are talking about used car values, I'm interested in purchasing a late model Acura Integra GS-R. No where near as fun as a RX-8, but it's good on gas and can satisfy my needs for a while. Anyway, a well kept one being sold on Autotrader met my requirements, but the guy wants something like 1700 over KBB. Now, if it were a late model Prelude SH (more difficult to find), it could almost be justified, but damn, Integras are everywhere!!! I e-mailed the guy and he was offended that I suggested he sell it for a little closer to KBB. He claimed NADA was a better choice for the "real" value. Whatever, I'll call the ad right below his...

rumatt

I agree shahram. The used market for 8's sucks. People are asking way too much. They probably bought back when they were selling closer to MSRP. Unfortunately their original purchase price is irrelevant. What matters is the current market for new ones.

If I had two identical cars, one new and one used with 10K miles, I would need at least a 4-5K difference to even consider the used one.

Edit: What makes it even worse is that the 2005's are coming out any day now, and even THOSE are selling at invoice: https://www.rx8club.com/purchasing-financing-insurance-56/2005-ordering-price-37202/#post502291

PIXER

Well, I bought my 8 used........ did some searching and my local dealer (sunflower mazda) had 4 used ones. Whats sad is that if you go to mazda's web site and build my car, it comes to $30,850 new. Asking price was like $28,998. And then they told my mother and I (I'm only 19, bought the car all in my name, no co-sighner or anything. People just dont take me seriously because of my age) Anyway, they told me that they bought the car for $28,225 and that it was such a "HOT" car that there wasnt a ton of room to the price. My car had 9,623 miles on it when I bought it. I really feel like I got jipped. Expecially when not a week later they had a "NEW" yellow rx-8 with every option possible for a clearance price of $29,998 with only 1,288 miles on it. I jsut cant express how much of passionate hatered I have for Sunflower. Words just cant describe it.

Rob Tomlin

Count me in as another who thinks that prices being asked for RX-8's is too much.

From what I have seen, buying used just doesn't make sense since they are asking so close to the price of a new one.

Speed-ER doc

I for one am glad the used 8's are holding their value.

LiveBlues

My thoughts exactly!

nt5k

We have a winner!

I'm sure that 911 owners don't complain that the used prices are staying close to new prices.

rumatt

It's an interesting phenomenon, actually. There are people who want to sell, and there are people who want to buy. But because the marked for RX8's dropped so much, there doesn't exist a price range where they're both interested in making a transaction.

This scenario must exist in an economics text book somewhere.

Razz1

Well I bought mine for 28 995 with 10k.

They wanted 34k for the new ones.

Mine has tint and extra wheels so I figured I saved 4 grand.

The price of nice after market chrome wheels and tint would have set me back at least 1500 if I order them over the internet plus shipping.

Gomez

A new one here in Australia costs USD$45K plus with leather, no sunroof, no nav.....this thread is depressing......

shahram72

They are not holding value when no one is buying. Actual sale prices are values, not listing prices. I feel for the member here who paid too much for their used 8, but people like that who are not smart consumers are part of the problem. We have the most careless consumers in the world here. I have a friend who just paid $33K for a USED Prius with 5K miles on it. I flipped!!! She said how exclusive they are and how hard it is to get one new. Well guess what, if it's unavailable, don't buy it!!!!!!!!!!!! It's a neat car, but she will never save enough gas to even recoup her loss. The market is full of people like this. To me, a used 2003 base model with 12K miles is worth abourt $18K. I know I won't find one at that price(nor would I even buy a 2003), but that's all it's worth, truly to someone who truly understands the value of money.

Speed-ER doc

If no one were buying, the price would go down, now wouldn't it?

shahram72

Not really in such a small market, There is a stalemate of people who arent serious about selling and those who won't buy for the same price as new, and those few uninformed who think $30K is great deal when compared with that loaded with Chrome wheels with a $40K dealer sticker. Same problem over in corvette forum. Lots of nice cars for sale, no one is buying, but people are still asking $20K for 10 year old corvettes. And those cars are a dime a dozen, no shortage finding nice used vettes, but one at a realistic price? Thats's a different story

rumatt

We need to know the sale price before we know if they're holding their value. I haven't been able to tell if they're selling at all. Sellers have a price they won't go below, but buyers won't pay that much.

If the sellers needed to sell their car ASAP, then it would. But I bet a lot of them put their car on the market, then once they realize there are no buyers at that price they decide to keep it another year instead.

Once the supply of used 8's goes up, the bubble should burst.

clyde

Just bite the bullet, buddy, and buy a new one. :p

2ks2k

Prices will be coming down real fast. The lease special is just about up and with people getting a new RX-8 under invoice and also getting up to $4k in rebates, there is no way they will keep their value. Give it a year or two when people start getting out of their leases...then you should be able to get one real cheap.

You do know that you can lease one, get all the rebates and then buy it out at anytime, right? I just got an '04 6spd with the GT, appearance, rotary, and spoiler and my payoff is already less than $27k (with no money down)...and I've only had this for 3 weeks.

shahram72

I have never seen a lease as good deal by my definition. Although that payoff seems good only being 3 weeks into it. But I'll bet you made a down payment, didn't you?

I agree if I wanted one now, I would just buy new for $25K (base model). But I'll probably end up getting an off lease one in a few years for a good deal. I'l just post here when I'm ready and find an ending lease on a nice one. Anything but black and I'm good!. Don'tget me wrong, I like black, but have you ever seen a black car that was more than 3 years old and did not look like crap?

2ks2k

Actually, if you re-read my post I DID NOT make a down payment...that is the same thing as "no money down" here in the West.

And your reasoning is really flawed...why would you buy a new one for $25k when you could get all the rebates on a lease and have a buy out of $20k? And then all you have to do is just get a loan the next month and be done with the lease? I'm not sure how saving $5k isn't a good deal to you, but it is to evryone I know...

As for the black commment...that is what mine is. And yes I have seen many black cars that are more than 3 years that didn't look like crap. That is why you wash and wax them...

shahram72

Well that is a good deal then. No wonder it's so hard to sell used cars. I will definitely ask about leasing when I am ready if there are deals to get a RX for close to $20K, althought something tells me I'm missing something here. Yes, it is possible to keep a black car nice, but it requires double the effort and you cannot mitigate the lovebug problem on them here in Florida. It will get trashed here and look like crap if you drive it during the summer love bug season. I cannot wash a car more than once a week and you have to get the bugs off a black car immediately.

Speed-ER doc

Black is beautiful. Once a week is enough.