fstfwd

I've noticed several people with comments about resale value on these forums, so I just wanted to put in my $.02 for what it's worth. I've owned several cars over the past twenty years. The only one I ever made any money on had nothing to do with the car (Chevy Cavalier), but rather the way it was purchased. I bought it at a siezed vehicle auction, had some transmission work done on it and drove it for six months before selling it. All maintenance, repairs, fuel and insurance included... I actually made $100 profit at the time I sold it.

Maybe I'm not looking at resale value the way some other people here are, but from my perspective you will hardly ever get anything back on any vehicle remotely close to what you have invested in it unless you are lucky and rich enough to buy a car that people are still going to love in thirty to fifty years. Many people don't have that kind of luxury or investment funds. So enjoy the car for what it is for as long as you have it, and when the losses outweigh the gains move to something else.

Renesis07

iTrader: (1)

Im not worried about the resale value, Im keeping the car anyways Whatever.

BlueEyes

I didn't call you hood rich, I said "hood rich?". This is not an accusation, it's a question.

BlueEyes

Okay. Art is one-off. Cars are mass produced. So really, it would be like selling any other mass produced consumer good.

Renesis07

iTrader: (1)

okay, well to answer your question, no Im not hood rich.

alienRX8

Its not that I want to win money when I sell my car. I just want to be able to in 2 years or so when I get bored and want something new that I can sell it without lossing a ton of money.

fstfwd

You're correct about that, except that most mass produced consumer goods are sold with a reasonable markup for profit (actual value) vs other goods which may be sold on a huge markup based on perceived value (such as art).

After your earlier comment, I thought about what else I might use as an example and what immediately came to mind were classic cars. If memory serves, you could buy a 1965 Mustang new when they were made for near $3,000... which is the moderate markup over actual costs in order to be profitable. The same car can be sold today if in new condition with limited miles for ten to twenty times that amount based on perceived value. It's the same car, but people are willing to pay more for it. That was the difference I was trying to convey, but for me to say that cars are much like cars in how they're sold would be repetatively redundant (yes, intentionally said that way) wouldn't you say?

dmorales

Wow, I forgot I had posted this thread.

No, it is a MT.

I listed in good condition when I appraised it. I have been tossing around the idea of a new car.

I just happen to get worried now and then. For example, when I drive it really really hard (like at redline/near redline for >45 sec) I get a flashing CEL. I slow down and give it a few seconds and it turns off. So I assume it's misfiring. I do have new Spark Plugs, so maybe it's another ignition problem?
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fstfwd

Maybe I don't understand cars or at least the RX8 well enough to say this as fact, but I can at least provide my opinion based on what I've read in the manual and these forums. Pegging your tachometer is not good for the engine from what I recall of the manual. I accidentally did this once a couple of months ago, and my CEL flashed as well. When people are talking about redlining the car to blow the carbon out on these forums, at least some of them are talking about a range from 7500-8500 rpm (near redline, not actual redline).

greg985

have you changed your coils and wires?

SideOfBacon

i have a long ways to go with my equity to break even.. i got mine in 07 with 13,000 miles ('04 model). 20,500 out the door with extended warranty. trade-in value right now is 10k.

dmc27

that's what I was thinking.


try that and see if it clears up the cel.

dmc27

I'm with 77mjd. You must have missed something dmorales, unless you have a base model w/90k or more. my 05 base model w/48k on the odo comes up at 10k trade-in on Edmunds.

dmorales

That was my next step. I'll give it a try and see fi it clears up.
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dmorales

Mines a sports package, but not a Grand Touring. It's a 2004 with 95,000 miles. So that would definitely bring down the value from yours. Also, location may be a factor as well.
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dmorales

Your ok in redline. It's made to go that high for a reason. Although 7500-8500 is probably just as good for burning out carbon build-up, I didn't say I was trying to burn carbon for maintenance...

To clarify, redline is ok, but you wouldn't want to be "pegging" the tach as in hitting the fuel cut-off.
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dmorales

600 posts!
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mmats69

KBB is way overrated. I use to always laugh when someone came in the dealership waving the blue book around. Dealers have their own black book like Gray06 mentioned earlier. That is the book that determines what you will get for your car and usually its several thousand less than what KBB was quoting.

I know what you mean. That's why I sold my 04. Kept making payments month after month but the principal was going nowhere.

alnielsen

iTrader: (4)

Would that be something like NADAguides.com?

Icemark

Hmm, mine came out at $16,132 $17,745 $19,233... at edmunds.

$19233 for a car that I paid $24K for seems pretty good for depreciation... In fact that means that if I was buying the car from the dealer with 20K miles, it would only be $6K less than brand new... for a 3 year old car that is only a loss of $2K a year.

That is pretty damm good depreciation if you ask me.