I just got my 8's trade-in value......
12-05-2009, 04:02 PM
#1
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I just got my 8's trade-in value......
I have an 04 RX8, Grand Touring and Appearance Packages, 112,000 miles. Trade-in value ("good" rating) = $6,250. 
I can't believe how low the value of this car is!! I am so upside down in my loan I can't even trade it in. I really don't want to trade it in regardless, but due to it getting up in miles and the fact I am starting a family, I need a bigger car that is better on gas. Can't pick a better time to trade it in than now.....winter is coming and I need new snow tires (which now I have to buy....there goes another $1200).
I am so pissed off. I owe twice as much as it is worth. I knew that it depreciated quickly, but this is ridiculous.......!!!
Sorry, I just needed to vent. So much for getting that family car (was going to get an 06 Acura TL with Navi....so much for that).
I can't believe how low the value of this car is!! I am so upside down in my loan I can't even trade it in. I really don't want to trade it in regardless, but due to it getting up in miles and the fact I am starting a family, I need a bigger car that is better on gas. Can't pick a better time to trade it in than now.....winter is coming and I need new snow tires (which now I have to buy....there goes another $1200).
I am so pissed off. I owe twice as much as it is worth. I knew that it depreciated quickly, but this is ridiculous.......!!!
Sorry, I just needed to vent. So much for getting that family car (was going to get an 06 Acura TL with Navi....so much for that).
12-05-2009, 04:40 PM
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Keep in mind that the rebates Mazda is offering will hurt resale for all RX8s (the newer ones will feel it more). They are going for $22K new without any negotiation.
http://sfbay.craigslist.org/eby/ctd/1495073545.html
http://sfbay.craigslist.org/eby/ctd/1495073545.html
12-05-2009, 09:48 PM
#11
You got a lot of miles on her, it's like a wife after too many years...it's cheaper to keep her. My car has brought me great happiness and it's worth more to me than someones resale value.
Funny thing my last 06 CR Shinka was totaled a couple months ago and the insurance appraised it at $20,000, I bought it for $24,000 3 years ago. I turned around and bought another used 06 CR Shinka from a forum member for a lot less with very low mileage. I have other cars and will have more, but I'm keeping this one. Rotary love!
Funny thing my last 06 CR Shinka was totaled a couple months ago and the insurance appraised it at $20,000, I bought it for $24,000 3 years ago. I turned around and bought another used 06 CR Shinka from a forum member for a lot less with very low mileage. I have other cars and will have more, but I'm keeping this one. Rotary love!
12-05-2009, 10:25 PM
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New to me
I just picked up an 04 for less than 10 mint -stock and new tires low low miles 
Last edited by vandal11; 12-05-2009 at 10:30 PM. Reason: add image
12-05-2009, 10:57 PM
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I have an 04 RX8, Grand Touring and Appearance Packages, 112,000 miles. Trade-in value ("good" rating) = $6,250.
I can't believe how low the value of this car is!! I am so upside down in my loan I can't even trade it in.
Sorry, I just needed to vent. So much for getting that family car (was going to get an 06 Acura TL with Navi....so much for that).
I can't believe how low the value of this car is!! I am so upside down in my loan I can't even trade it in.
Sorry, I just needed to vent. So much for getting that family car (was going to get an 06 Acura TL with Navi....so much for that).
I asked her the other day, if I had put them BOTH in the garage at the same time, which one would she drive?
She hemmed and hawed, thought about it for awhile, and decided that she would drive the RX8 everyday of the week and twice on Sundays. She has 2 kids to tote around in it, both were daily drivers.
Says something about the way the drivers of these things feel about them. Maybe being stuck with the 8 isn't all bad?
12-06-2009, 01:14 AM
#16
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First where is this "trade in quote from" Autotrader is incorrect
I got an 2004 Velocity Red GT Grand Touring with Navigation and about 43,000 miles. Quite a few dents that can be fixed.
I'm looking at a new (or another) car this summer I pray I get a trade in value around atleast $9k
I got an 2004 Velocity Red GT Grand Touring with Navigation and about 43,000 miles. Quite a few dents that can be fixed.
I'm looking at a new (or another) car this summer I pray I get a trade in value around atleast $9k
12-06-2009, 01:44 AM
#17
For some reason people never seem to understand things from the dealers point of view.
Right now, a dealer can buy an 04 RX8 GT at auction for about $7000. (so $6250 for your hi-miler is about right)
Then they have to put about $1000 in to reconditioning. (which gives $$$ to the service dept.)
And since they want to make $2-3000 profit, they have to mark it up by $5000 (So people can negotiate)
So an 04 from a dealer will be marked at about $13000
And
The $6250 they offered you is just a hair below what it is actually worth.
But people see the $13k the dealer is asking, and the $10k that KBB says it is worth, and they think their car actually has a higher value than it does.
But remember;
For the most part, dealers sell cleaner cars in better condition than private party. (RX8's kinda dont fall in that catagory, cuz Rotards love their cars and actually care for them)
and KBB does not buy or sell cars, it is just a "book value" used by banks for establishing loan amounts.
Right now, a dealer can buy an 04 RX8 GT at auction for about $7000. (so $6250 for your hi-miler is about right)
Then they have to put about $1000 in to reconditioning. (which gives $$$ to the service dept.)
And since they want to make $2-3000 profit, they have to mark it up by $5000 (So people can negotiate)
So an 04 from a dealer will be marked at about $13000
And
The $6250 they offered you is just a hair below what it is actually worth.
But people see the $13k the dealer is asking, and the $10k that KBB says it is worth, and they think their car actually has a higher value than it does.
But remember;
For the most part, dealers sell cleaner cars in better condition than private party. (RX8's kinda dont fall in that catagory, cuz Rotards love their cars and actually care for them)
and KBB does not buy or sell cars, it is just a "book value" used by banks for establishing loan amounts.
Last edited by rglbegl; 12-06-2009 at 01:50 AM.
12-06-2009, 07:48 AM
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For some reason people never seem to understand things from the dealers point of view.
Right now, a dealer can buy an 04 RX8 GT at auction for about $7000. (so $6250 for your hi-miler is about right)
Then they have to put about $1000 in to reconditioning. (which gives $$$ to the service dept.)
And since they want to make $2-3000 profit, they have to mark it up by $5000 (So people can negotiate)
So an 04 from a dealer will be marked at about $13000
And
The $6250 they offered you is just a hair below what it is actually worth.
But people see the $13k the dealer is asking, and the $10k that KBB says it is worth, and they think their car actually has a higher value than it does.
But remember;
For the most part, dealers sell cleaner cars in better condition than private party. (RX8's kinda dont fall in that catagory, cuz Rotards love their cars and actually care for them)
and KBB does not buy or sell cars, it is just a "book value" used by banks for establishing loan amounts.
Right now, a dealer can buy an 04 RX8 GT at auction for about $7000. (so $6250 for your hi-miler is about right)
Then they have to put about $1000 in to reconditioning. (which gives $$$ to the service dept.)
And since they want to make $2-3000 profit, they have to mark it up by $5000 (So people can negotiate)
So an 04 from a dealer will be marked at about $13000
And
The $6250 they offered you is just a hair below what it is actually worth.
But people see the $13k the dealer is asking, and the $10k that KBB says it is worth, and they think their car actually has a higher value than it does.
But remember;
For the most part, dealers sell cleaner cars in better condition than private party. (RX8's kinda dont fall in that catagory, cuz Rotards love their cars and actually care for them)
and KBB does not buy or sell cars, it is just a "book value" used by banks for establishing loan amounts.
The scenario most dealers are going to be looking at it turning around and selling the car at auction. Very few brand dealers work with the high mileage cars; they are usually left for used-only places.
As far as the cost of snows... I'm seeing $88(tire)/$105(wheel) per wheel on tire rack (215/55/r7 -- narrow is better in the snow). or $768. or you could always look for a set of used ones on craigslist/ebay. In the off season I bought a set of four snows for my Acura for $150.
12-06-2009, 09:06 AM
#20
Momentum Keeps Me Going
It's not the car - it's the mileage AND the age - this must be your first car or something - you can't be so naive as not to realize EVERY transaction in this life is aimed at parting you from your hard earned cash?
Beyond that you bought a sports car, used it like an appliance - used up it good years - ran through a typical commuting car's mileage lifetime (or someone did) - and now you're complaining because it isn't worth much?
Go to Edmunds and look up the wholesale on virtually any car with over 100K and you'll be amazed at the 'deals' there are - it's just you're on the wrong side of THIS deal. It sucks, but that's how any machine depreciates. Beyond that EVERYONE gets RAPED trading to a dealer - dealers are giving wholesale or less right now. Sell it yourself and learn how easy and for how much you can sell your car. The dealer is taking that risk, time depreciation, and effort out of the offered price, and rightfully so.
Beyond that you bought a sports car, used it like an appliance - used up it good years - ran through a typical commuting car's mileage lifetime (or someone did) - and now you're complaining because it isn't worth much?
Go to Edmunds and look up the wholesale on virtually any car with over 100K and you'll be amazed at the 'deals' there are - it's just you're on the wrong side of THIS deal. It sucks, but that's how any machine depreciates. Beyond that EVERYONE gets RAPED trading to a dealer - dealers are giving wholesale or less right now. Sell it yourself and learn how easy and for how much you can sell your car. The dealer is taking that risk, time depreciation, and effort out of the offered price, and rightfully so.
12-06-2009, 02:20 PM
#21
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Sorry to hear, but the horrible resale value has been mentioned on here for years. Great for used buyers, much less so for those who bought new when Mazda wasn't giving these $5K rebates.
12-06-2009, 03:42 PM
#23
no one is buying anything. You should see the deals you can get on motorcycles. One year old, 1000 miles, you can get them for 50% of the price the previous owner paid, or even lower since the PO paid tax, dealer fees, etc.
12-07-2009, 12:05 AM
#24
Consumer Reports' latest edition puts the 8 at the very top of the list in terms of resale value - no joke.
Check out other car resale value as a % of new transaction price and you'll change your opinions; I did.
112k miles is buku miles for a 5 year old car, too. Slushboxs sell for about 10% less than MTs, too.
I have found new car prices are better than used car prices since boondoggle cash for clunkers, too.
I test drove 8 cars to replace my 8 now that we have a 10 month old and have one on the way and nothing comes close to the 8 in terms of sports car/daily driver comfort (and it runs like a champ in the snow with iPike W409s, too.
Check out other car resale value as a % of new transaction price and you'll change your opinions; I did.
112k miles is buku miles for a 5 year old car, too. Slushboxs sell for about 10% less than MTs, too.
I have found new car prices are better than used car prices since boondoggle cash for clunkers, too.
I test drove 8 cars to replace my 8 now that we have a 10 month old and have one on the way and nothing comes close to the 8 in terms of sports car/daily driver comfort (and it runs like a champ in the snow with iPike W409s, too.
