Resale value is strong on these cars
01-07-2008, 11:30 AM
#1
Baned
Thread Starter
Resale value is strong on these cars
This is a thread to show everybody how good the resale value of the RX8 actually is.
http://www.kbb.com/KBB/UsedCars/Pric...&Mileage=22000
^^ $23,330 That is the retail value of my car. That is what a bank will loan against the car.
http://www.kbb.com/KBB/UsedCars/Pric...&Mileage=22000
^^^ These are the private party value of my car. My car is perfect, but lets just say "good" condition so we are low balling it, not inflating it. $19,250.
My local dealerships are asking $24,000 for similiar cars. (which means they sell for about $22k) and private party are asking about $21,000, and probably getting about $19-20k
Now . . . I paid $19,999 for my car 2 years ago.
KBB Retail value is $23,330
KBB private sale value is $19,250
Dealers are getting $22,000
Private sales are getting $19,500
So If I owned my car for 2 years, and sold it at the low end of the spectrum for $19k. I would have lost $1000 in 2 years, Or $500 per year, or $41.66 per month (effective payment)
So for all you haters . . . . .. You have no room to complain anymore
http://www.kbb.com/KBB/UsedCars/Pric...&Mileage=22000
^^ $23,330 That is the retail value of my car. That is what a bank will loan against the car.
http://www.kbb.com/KBB/UsedCars/Pric...&Mileage=22000
^^^ These are the private party value of my car. My car is perfect, but lets just say "good" condition so we are low balling it, not inflating it. $19,250.
My local dealerships are asking $24,000 for similiar cars. (which means they sell for about $22k) and private party are asking about $21,000, and probably getting about $19-20k
Now . . . I paid $19,999 for my car 2 years ago.
KBB Retail value is $23,330
KBB private sale value is $19,250
Dealers are getting $22,000
Private sales are getting $19,500
So If I owned my car for 2 years, and sold it at the low end of the spectrum for $19k. I would have lost $1000 in 2 years, Or $500 per year, or $41.66 per month (effective payment)
So for all you haters . . . . .. You have no room to complain anymore
01-07-2008, 12:09 PM
#4
$48K new???????....was this the special gold plated edition?
I bought my GT new out the door for $26,300 it was last years model so I got a good price. I think the most you would pay for a new GT with Nav and all would be around $33 to 35K out the door.
If you believe this guy paid $48K either he was the biggest fool to walk the Earth or you are a little guilable my friend.
By the way, Consumer Reported rated the RX-8 above average for resale value.
I bought my GT new out the door for $26,300 it was last years model so I got a good price. I think the most you would pay for a new GT with Nav and all would be around $33 to 35K out the door.
If you believe this guy paid $48K either he was the biggest fool to walk the Earth or you are a little guilable my friend.
By the way, Consumer Reported rated the RX-8 above average for resale value.
01-07-2008, 12:12 PM
#5
Registered User
Join Date: Jun 2004
Location: University of Maryland
Posts: 2,510
Likes: 0
Received 1 Like
on
1 Post
$48K new???????....was this the special gold plated edition?
I bought my GT new out the door for $26,300 it was last years model so I got a good price. I think the most you would pay for a new GT with Nav and all would be around $33 to 35K out the door.
If you believe this guy paid $48K either he was the biggest fool to walk the Earth or you are a little guilable my friend.
By the way, Consumer Reported rated the RX-8 above average for resale value.
I bought my GT new out the door for $26,300 it was last years model so I got a good price. I think the most you would pay for a new GT with Nav and all would be around $33 to 35K out the door.
If you believe this guy paid $48K either he was the biggest fool to walk the Earth or you are a little guilable my friend.
By the way, Consumer Reported rated the RX-8 above average for resale value.
01-07-2008, 12:22 PM
#6
Registered
Join Date: Feb 2002
Posts: 4,447
Likes: 0
Received 0 Likes
on
0 Posts
Part of the problem is the mods. Whether anyone here will admit it or not, there's a very limited market for cars with them, and most people don't want to bother with them. The company I work for doesn't even resell them if they have anything extensive- they just drop right to the wholesale list. One of my coworkers got a 2005 VR sport with 27k miles on it for $13k because of a bunch of Mazdaspeed stuff on it.
01-07-2008, 12:25 PM
#8
Registered User
iTrader: (2)
Join Date: Oct 2006
Location: Ohio
Posts: 1,396
Likes: 0
Received 0 Likes
on
0 Posts
Coversion rates were around $1.25-$1.30 at that time so 48k is still wayyy too high. No way the dude paid that. May had been $42k (canadian) loaded and out the door..... and thats a stretch.
01-07-2008, 12:35 PM
#10
Registered
Join Date: Oct 2007
Location: Owings Mills, near Baltimore MD
Posts: 614
Likes: 0
Received 0 Likes
on
0 Posts
Well here in the states, where KBB is more worthless then the paper it's written on, get **** poor resale value. I bought a Touring with 7k for right around $17k 4 months ago, 05 model, but... your car won't retail for $20k, and private party it's maybe worth $16k if you rip someone off.
01-07-2008, 12:35 PM
#11
01-07-2008, 12:37 PM
#12
In related news, they have their own economy.
01-07-2008, 01:25 PM
#16
Grand Chancellor
resale value is avg. on these cars. nothing stellar. From my neck of the woods, an 04 is about 53% of its original price with avg mileage.
if you want to see lousy resale look at the high-end MercedesBenz.
if you want to see lousy resale look at the high-end MercedesBenz.
01-07-2008, 01:34 PM
#17
Administrator
iTrader: (7)
who ever said anything about selling my RX-8... 
(that's also why I don't go 'overboard' with the mods... )
(that's also why I don't go 'overboard' with the mods... )
01-07-2008, 01:39 PM
#18
Registered User
Join Date: Apr 2005
Location: Streamwood, IL
Posts: 157
Likes: 0
Received 0 Likes
on
0 Posts
Luckily for me, I'm happy with the car and intend to keep it for quite some time.
01-07-2008, 02:31 PM
#19
1935 lbs. FTW!
I would love to see you get 19 for it in 2 years. I bought a new 05 in the middle of 06. It had a MSRP of right at 30K as configured and I sold it for 18K in Nov 07 with 18K miles on it. A 60% residiual is pretty bad for 18 months of ownership. Granted I didn't pay anywhere near sticker so I made out like a bandit and got out of it at the right time.
Last edited by CosmosMpower; 01-07-2008 at 02:35 PM.
01-07-2008, 02:51 PM
#20
You guys are so lucky to have cheap cars in the US. They are sometimes 50% more expensive here in Canada and now that our dollar is worth the same were getting ripped off big time!!!
Here is a picture of the original invoice for my car.
Here is a picture of the original invoice for my car.
01-07-2008, 03:35 PM
#23
2006 Velocity Red Mica
Join Date: Mar 2006
Location: Reston, VA
Posts: 296
Likes: 0
Received 0 Likes
on
0 Posts
Part of the problem is the mods. Whether anyone here will admit it or not, there's a very limited market for cars with them, and most people don't want to bother with them. The company I work for doesn't even resell them if they have anything extensive- they just drop right to the wholesale list. One of my coworkers got a 2005 VR sport with 27k miles on it for $13k because of a bunch of Mazdaspeed stuff on it.