Resale value is strong on these cars
Thread Starter
Baned
Joined: Sep 2006
Posts: 1,534
Likes: 2
From: By a lake
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
Registered
Joined: Sep 2005
Posts: 1,364
Likes: 2
From: Chicago
$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.
Registered User
Joined: Jun 2004
Posts: 2,510
Likes: 1
From: University of Maryland
$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.
Registered
Joined: Feb 2002
Posts: 4,447
Likes: 0
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.
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.
Registered
Joined: Oct 2007
Posts: 614
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From: Owings Mills, near Baltimore MD
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.
Registered
Joined: Sep 2003
Posts: 3,319
Likes: 58
From: NYC
Bland
Joined: Apr 2004
Posts: 856
Likes: 1
From: New Jersey
In related news, they have their own economy.
Grand Chancellor
Joined: Jul 2003
Posts: 2,733
Likes: 62
From: Home of the NIMBYs
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.
Registered User
Joined: Apr 2005
Posts: 157
Likes: 0
From: Streamwood, IL
Luckily for me, I'm happy with the car and intend to keep it for quite some time.
1935 lbs. FTW!
Joined: Apr 2006
Posts: 1,134
Likes: 1
From: Dallas, TX
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; Jan 7, 2008 at 02:35 PM.
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.
2006 Velocity Red Mica
Joined: Mar 2006
Posts: 296
Likes: 0
From: Reston, VA
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.