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Prices Paid: Buying & Leasing Experiences Mazda3 Prices Paid and Buying Experience
4322 messages, Last post on Nov 23, 2009 at 12:36 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
| Hello everyone. I'm buying a 2009 Mazda 3 GT 5 Door and am really excited about it. I'm selling my Honda CRV and am hoping to get $5000 for it. Now I want to use that to put a down payment on the Mazda. Is this a normal amount? I mean I have not bought a car in over 8 years. I don't know if I'm not putting enough down or if I'm putting too much? I would like to finance the car for 36 months (0% financing). Do they still have this deal? Any suggestions on where I should go, or what I should be paying would help. I'm in Long Island, NY by the way. Thanks. | |
| I have also thought about trading in my Honda CRV to the Mazda dealer in exchange for my new 3. Is this a good idea? Or should I just sell my Honda privately? My Honda is falling apart pretty fast. Didnt start the other day (need a new battery and cold weather doesn't help), one of the head lights is out, and the radio says "Code" and it's also out. Rather than get these things fixed, I was thinking just to trade it in to dealer for a new car. Is this a bad move? | |
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Replying to: ylz (Jan 20, 2009 6:40 pm) The only other reason to trade it in is that, depending on the state, the price of the trade-in can drastically lower the sales tax on the new vehicle. You'll have to run the numbers yourself to see if it is worth your time selling it on your own. Also, if you are taking their 0% financing, the car will cost more than if you pay for it through other means (cash, another loan, etc). There is at least another $500 off if you use other options. When we considered the 0% financing, we did so by assuming 0% down. It's the only way to get the maximum benefit of the offer. The big question here is whether or not you can stomach the larger monthly payments. I ran all the spreadsheets, comparing the choices, and, in the end, decided to pay for the car outright. If you are comparing against any outside financing over 3-4% for 3 years, the additional original $500 or so savings on the car is quickly gone. |
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Replying to: ylz (Jan 20, 2009 6:40 pm) But, those seem like minor issues.. enough to turn off a potential buyer, but not that expensive to fix.. Get a new battery, reprogram the radio (lost power, that's why it says code), and fix the headlamp.. How old is your CR-V, and how many miles? It may be worth more than you think... $5000 down on a new car and a loan for 36 months seems like a pretty good idea.. regards, kyfdx |
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Replying to: ylz (Jan 20, 2009 6:40 pm) If you have the serial # to stereo you can contact Honda through dealer and get the "push button" code to reset stereo. Just going through same with my CRV which just had new battery put in - wish Sears would have told me this before, now I have to pull stereo out to see the serial#. Love my CRV and my Mazdaspeed3 both!
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Replying to: orca3 (Jan 21, 2009 2:31 pm)
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Replying to: mcwong (Jan 19, 2009 12:35 pm) |
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Replying to: ylz (Jan 21, 2009 5:38 pm) 1. Check glove compartment for a sticker, if there is one with 6 digits on it, that's it! Just enter that in. 2. Check your paperwork from when you got the car, it might be in there, look for a white sticker with numbers on it. 3. Call up the dealership you got the car from and provide them with the VIN to your car, although they might make you come down to verify that you're the owner. 4. Get the serial from behind the radio, this requires taking stuff apart. Your headlight is an easy fix, should be able to just change the bulb, probably 8-12 bucks at walmart. Get a new battery and sell the car on your own. And like the person above said, if you're going for 0%, don't put any money down, stick the 5k into an interest yielding savings account and take money out of there each month to make up the difference. |
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Replying to: ylz (Jan 20, 2009 6:40 pm) Let's assume an OTD price of $19,500 and the 0% financing for 36 months: 0% down - $541.67/mo 5K down - $402.78/mo A difference of approx $139/mo. If you took that $5000 and put it in an account making 1.5% and withdrew the extra $139/mo for the higher payment, you would have roughly $120 left over at the end of the loan. Certainly not much over 3 years, but it shows that there really is no sense putting anything down if you can hold to a budget and NOT touch that account except for the car payment.
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Replying to: salem66 (Jan 22, 2009 7:13 am) You'll have to pay taxes on the 1.5% you are earning... That will knock the return down to around 1%.. |
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