Trade In for MS3 - My Options - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
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post #1 of 16 (permalink) Old 07-01-2008, 09:16 AM Thread Starter
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Trade In for MS3 - My Options

I've been thinking long and hard about this for about a month or so now. I made a move and got some quotes from the dealer.

Trade in my 2007 Mazda 3 GT (13,000 KM) for the MS3.
(This is Canadian Pricing)

I owe $18K on the car. They are giving me $18K for the trade in.

MSRP of the MS3 in Canada is ~$32k. I'd be paying ~35K.

I'm trying to do the math to see if this is a viable option. I know the 5K worth of payments I made into the load are 'gone'.

But waiting longer will depreciate my car even more, thus getting me less value on the trade. That was my understanding when I thought of trading it sooner rather than later.

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post #2 of 16 (permalink) Old 07-01-2008, 09:20 AM
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Re: Trade In for MS3 - My Options

holy cow. talk about putting yourself upside down. why would you pay OVER MSRP? are they that uncommon in CAN-AH-DUH?

would you be putting any money down?



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post #3 of 16 (permalink) Old 07-01-2008, 09:21 AM
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Re: Trade In for MS3 - My Options

I would def trade in... but I woldn't pay more than 30... even in canada...


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post #4 of 16 (permalink) Old 07-01-2008, 09:24 AM
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Re: Trade In for MS3 - My Options

That wouldn't put him upside down... upside down is when he owes more on the loan for the car then the car is worth.

Is it a smart financial decision... maybe not, but ya gotta have some fun. If you can live with knowing that the payments you made on your current car are gone (consider it a long rental fee if you want), then go for it.


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post #5 of 16 (permalink) Old 07-01-2008, 09:25 AM Thread Starter
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Re: Trade In for MS3 - My Options

[quote author=buttdart link=topic=116304.msg2431848#msg2431848 date=1214918427]
holy cow. talk about putting yourself upside down. why would you pay OVER MSRP? are they that uncommon in CAN-AH-DUH?

would you be putting any money down?


[/quote]

Because of the freight, pdi...etc + 13% tax in Canada, that's about ~$3k

I could put some money down as well...

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post #6 of 16 (permalink) Old 07-01-2008, 09:27 AM Thread Starter
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Re: Trade In for MS3 - My Options

[quote author=Workdawg link=topic=116304.msg2431856#msg2431856 date=1214918643]
That wouldn't put him upside down... upside down is when he owes more on the loan for the car then the car is worth.

Is it a smart financial decision... maybe not, but ya gotta have some fun. If you can live with knowing that the payments you made on your current car are gone (consider it a long rental fee if you want), then go for it.
[/quote]

That's exactly how I'm looking at it. I'm 25, and want to enjoy this before I have to really settle down with kids and a mortgage. My finances can support this purchase right now, that's why I'm considering it.

But I don't want to do it if it's moronic... and I'm over looking a major issue.

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post #7 of 16 (permalink) Old 07-01-2008, 09:29 AM
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Re: Trade In for MS3 - My Options

[quote author=xBoarder link=topic=116304.msg2431838#msg2431838 date=1214918188]
Trade in my 2007 Mazda 3 GT (13,000 KM) for the MS3.
(This is Canadian Pricing)

I owe $18K on the car. They are giving me $18K for the trade in.

MSRP of the MS3 in Canada is ~$32k. I'd be paying ~35K.
[/quote]

Financially, this is beyond retarded. Trading in a 1 year old car, FTL. Not to mention, you're trading in your car for the same model, just the "sportier" model. Is that engine really worth $17k to you?

[quote author=xBoarder link=topic=116304.msg2431838#msg2431838 date=1214918188]
But waiting longer will depreciate my car even more, thus getting me less value on the trade. That was my understanding when I thought of trading it sooner rather than later.
[/quote]

With this attitude, you'll have car payments your whole life. Yes, the car will continue to depreciate, but at a slower rate. Which means someday you might actually build equity in it.
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post #8 of 16 (permalink) Old 07-01-2008, 09:31 AM
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Re: Trade In for MS3 - My Options

[quote author=xBoarder link=topic=116304.msg2431864#msg2431864 date=1214918855]
That's exactly how I'm looking at it. I'm 25, and want to enjoy this before I have to really settle down with kids and a mortgage. My finances can support this purchase right now, that's why I'm considering it.
[/quote]

LOL, as someone who has been in the same position, let me tell ya one thing. It's a lot more fun to be 28-29 and have the extra dough you could have saved than to be 25 and slaving away for a car payment. If buying this car is the only way you can "enjoy" your life before kids and a house, then so be it.
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post #9 of 16 (permalink) Old 07-01-2008, 09:33 AM
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Re: Trade In for MS3 - My Options

[quote author=Workdawg link=topic=116304.msg2431856#msg2431856 date=1214918643]
That wouldn't put him upside down... upside down is when he owes more on the loan for the car then the car is worth.
[/quote]

What do you think will happen the second he drives off the lot?
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post #10 of 16 (permalink) Old 07-01-2008, 10:00 AM Thread Starter
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Re: Trade In for MS3 - My Options

[quote author=fatabbot link=topic=116304.msg2431877#msg2431877 date=1214919105]
LOL, as someone who has been in the same position, let me tell ya one thing. It's a lot more fun to be 28-29 and have the extra dough you could have saved than to be 25 and slaving away for a car payment. If buying this car is the only way you can "enjoy" your life before kids and a house, then so be it.
[/quote]

LOL.. no, the Speed3 is not the one and only...But it's something I had my eye on while buying the Mazda 3, but a year ago, I wasn't going to be able to afford it. Since thing, things have changed, and I can...

But I see what you're saying.. and looks like the best plan of action for me would be to keep the 3 for a while longer to pay of more of my loan, and upgrade to the Speed later.

Maybe these are noob observations, but it's a live and learn scenario.. right?

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