superglue

Why would you ever want to sell an RX-8?

You are very correct on the depreciation, but if you plan on keeping the car for the entire period of the car loan, then it's not so bad. The only thing to worry about the first few years is a freak financial crises, in which case you have another debt instead of a potential asset. But if you're in a financial crises, you have much more to worry about than being upside down on your car loan.

User24

iTrader: (1)

Sometimes it is philosophy only. If you like to buy things once, if you believe in do it right the first time, then you have no option but buy/finance new. If you hop from vehicle to vehicle every month then obviously you must go used.

Let's say you buy GT for $31,000 new. In two years, you look up used prices and your model year is selling used at $17,000 with 10,000 miles. Would that matter at all to you? Or, would it have no consequence on your future plans? Lastly, the car just got a dented panel when you backed it up.

Now let's say you buy GT for $17,000 certified used and with 10,000 miles. You don't know the full details of its history, how much the previous driver cared or knew about the car, what type of oil was used, how many times he grind the clutch, how many times he cared to rev match, if he used premix. You can imagine him sitting in the car putting boogers everywhere. Lastly, the car had a dented panel from previous accident but was repaired.

Which scenario is worse?

wankelhead

Buy used. Know the history and make sure updates have been done. There are great deals on 8s out there, just have to search. I got my '04 8 with <$20k in November for $16k. One previous owner with detail history and service records. I bought through a high-end auto broker. Good auto brokers only purchase cars that have had one owner are in great condition. If you can find one of these, highly recommend. Although the broker I bought mine from doesn't typically sell 8s on his lot he had a guy trade his in for a BMW and wanted to move it off his small lot fast to make room for other inventory. Good for me I was there that day, the rest is history

Rems31

I should note that no one pays MSRP for a car (unless you're a sucker! )

Renesis07

iTrader: (1)

I clearly said unless he plans to keep it. I sell cars for a livng, I'm not blowing smoke. Truth is, most people don't keep their cars forever, and a 60-72 month loan is lnger than you think. Itll take at least six months JUST to pay off the tax title and license.

Buy used.

xsnipersgox

i hope crusing to the stoplight in 6th to save gas isn't using transmission as brake o.O


and like i've stated before, i'd wait on the 09s with 3 oil injectors.

Revvittupp

High demand cars should be purchased new. Examples today are Smart and the Toyota Prius, yesteryear it was the Honda Oddysey.

HOnda's and Toyota's in general will usually work out better in the long run cost wise if you purchase new. They simply don't depreciate enough.

Revvittupp

You are ignoring the depreciation a used car has when driving off the lot. Hint, sell a Used car to a customer, and have them come back in a month and have your Used Car Manager appraise it. It will be nowhere near the saleprice from when you sold it. All cars depreciate, there is a difference between retail and wholesale.

Renesis07

iTrader: (1)

I appreciate you explaining to me what I do for a living. If you read my past posts, Im not ignoring depreciation. If a person is half *** intellegent, they can buy a used car back of book.

Ill spoon feed this since certain members are having a hard time with my posts.

When it comes to buying new, the depreciation occurs thousands at a time, the car instantly loses value when you leave the lot leaving you upside down for quite some time.

When it comes to buying used, its already hit the 'plateau' of its depreciation. Meaning its depreciating hundreds at a time as opposed to thousands.

SURE, all cars depreciate, I figured common sense wouldve conveyed that.

CarAndDriver

Used low miles, warranty remaining, no 2004, no ATs, clean Carfax and bargain hard.

Revvittupp

I was talking about the difference betweeen retail and whplesale, and it is thousands... instantly.
You act like you are the only person that has ever sold cars before.

Renesis07

iTrader: (1)

No, I just say the truth. The difference between retail and wholesale isnt depreciation, thats a difference in value. Therefore, if a car books for 20K wholesale and 17 trade in and 19 private sale, thats not depreciation. Now if one has any negotation skills, they can easily get an rx8 for near trade in value or at least for private sale value. But once again, your are false in the sense that the difference between wholesale and retail IS NOT DEPRECIATION.

Now, say you buy a new rx8 which has no book value yet for 30K, now 6 months later you want to trade it in and the dealer tells you your car is worth 22K trade in yet you havent even paid off the taxes yet so you still owe 31K on it, now that my friend is serious inequity. The cars value has dropped due to it being titled. THATS DEPRECIATION.

I dont act like Im the only one that has sold cars before, I act like someone who IS CURRENTLY a manager for a sales team and has been in the car business for as long as I can remember.

IMHO it seems like your acting like you have to go against the grain to somehow prove me wrong when my point is clearly evident, not sure why you feel the need to keep challenging me, but if you take the time to reread all my posts Im sure you will have an apiphany and suddenly understand and comprehend what depreciation is instead of making a fool out of yourself buy saying the difference between retail and wholesale is depreciation, no, that would be a difference in book.

Nice try though, good effort.

Revvittupp

You are absolutely right, it is not, technically depreciation, but that doesn't mean it doesnt have the same effect. Depreciate is simply an easier word to use.

If you buy a Used car you aren't in a much better position 30 days later then if you buy a new one.

You can buy a new $31k car for $25k put no money down,l roll in $2k in taxes and tags, get a 72 month loan and you are upside down for a WHILE.

Or, you can spend $20k on a two year old used car, roll in $2k in taxes and tags, get a 72 month loan and you are nearly as upside down for nearly as long...

Is that really hard to understand for a slaes manager? I too have managed multiple dealership sales staffs in my past, sorry for not currently being in the business, not sure how the business has changed in under a year, but I doubt it's much.

Comparing apples to apples, an uninformed consumer isn't doing himself huge favors buying used compared to new. Used cars typically require wear items much sooner in the buying cycle, not to mention soon to be expiring warranties, higher interest rates, etc.

That's all AI'm saying. Sorry to seem like I'm attacking you, but you seemed to make the nube mistake that used is always better.

It's not liek the car you haggle a dealership down to $17k is really worth more then $13k to them a week later.... They have to assume it will take them 60 days to sell the car, advertising costs, commission, inspection, reconditioning....

xsnipersgox

stay on topic ppl -.-

xAbre1200

Hmmm, from the posts above, I see that buying "used" is clearly better most of the time than buying NEW. But what about the new 09 Rx8, certainly the resale value on that will be better than previous models.

kersh4w

iTrader: (3)

right.

Revvittupp

How is that not on topic? The guy is asking whether he should buy new or used... there are certainly reasons for each of them.

The 09 will be over $30k, there will be little in the form of help from Mazda to make that more affordable. That car will have a fresh warranty, fresh styling(good or bad in the eye of the beholder), and fresh wear and tear components. Normal drivers will sepnd little besides their payment for three years.

A used car will be a little more hten half the price, will have an expiring warranty, higher interest rates, and failing wearables. Much more will be spent in addition to payments, gas and insurance on a used car.

So, do you like thenew styling? Wouild you rather have higher fixed costs and lower variable costs? Would you like a longer time period that you knw what the car will cost you?

or, is it more important to you to have a lower purchase price and payments, but have to reach in your pocket sooner for $1000 for tires, and hundreds for brakes, plugs, wires, coils, etc?

That's really the question to ask yourself.

Renesis07

iTrader: (1)

ShinkaTeen

used is the best deal.

only 8 id buy new is the 40th anniv.