Last post on Oct 20, 2008 at 6:50 PM
You are in the Mazda CX-7
What is this discussion about?
Mazda CX-7, Car Financing, SUV
#1 of 10 Trade in or not?
Jul 20, 2008 (1:29 pm)
I have a 2007 CX7 - it has 8600 miles on it. The KBB trade in value is $15700. I owe $10600 on the loan. Want to get something smaller and gets better mileage and that use regular fuel. Any suggestions? i don't want to be taken by the dealer.
#2 of 10 Re: Trade in or not? [czar2]
Jul 20, 2008 (4:32 pm)
At 22 mpg, you're using about 546 gallons of gasoline each year based on 12,000 miles average for drivers. If you move up to a car that gets 30 mpg, then your gas usage drops to 400 gallons providing a savings of 146 gallons each year. At $4 per gallon, that works out to a savings of $584 per year. Compare that with the $5,100 you still owe (after trade) on your old vehicle. It will take you close to 9 years to break even not counting financing your existing debt!
Couple that with the likelihood you will get less than the KBB trade in value along with the premium price you will pay for a fuel efficient vehicle and trade in doesn't look very attractive. Of course, a lot depends on how high gas prices go or even whether they remain this high. Your mileage will vary, of course.
SUVs and Smart Shopper
#3 of 10 Re: Trade in or not? [tidester]
by steve_ HOST
Jul 20, 2008 (5:16 pm)
Did you figure that out in your head Tides or did you use the Gas-Guzzler Trade-In Calculator?
Ah, knowing you, you did it in your head.
#4 of 10 Re: Trade in or not? [steve_]
Jul 20, 2008 (10:56 pm)
It's quicker to do it in my head but the guzzler calculator is a great resource and everyone should bookmark it!
SUVs and Smart Shopper
#5 of 10 Re: Trade in or not? [tidester]
Jul 21, 2008 (2:23 am)
Tidester is spot-on. Consumer Reports did an in-depth study on that very issue and came to the same conclusions. But push your logic to the next step, what would the result be if the price per gallon, for premium, hits $7.00 a gallon (as some predict for next summer).
#6 of 10 Re: Trade in or not? [vbbuilt]
Jul 21, 2008 (2:43 pm)
what would the result be if the price per gallon, for premium, hits $7.00 a gallon
The result would be a CX-7 that makes a nice paperweight.
#7 of 10 We traded it in today!
Sep 08, 2008 (9:15 pm)
We traded in our 2007 Mazda CX7 GTAWD today with 9500 miles on it. We were sick of the premium gas and the horrendous gas mileage. It is my wifes car and she drives around town getting 10-13 mpg. We brought it to the dealer 3 times and they claim all is normal. The Mazda was fun to drive but the mileage was just terrible.
We were able to get $20K on a trade and purchased a 2009 Chevy Malibu with the 2LT Package with the V4 6Speed (22/33mpg) for $22,700 with the GM Employee Discount. It took about 3 months and about 5 different dealerships to get the deal we wanted so we wouldn't take a total bath on the thing.
We purchased the Mazda as a Demo for $25K exactly a year ago. I don't think we made out too badly considering everything.
What do you guys think?
#8 of 10 honda prelude trade-in question
Oct 20, 2008 (6:16 pm)
I have a 97 prelude, which I love dearl, but lately wear and tear has caught up and I have spent some 2k on repairs/replacements. Now, I have major body damage (hood, fender and bumper) and radiator and front brake pads need replacing. The engine is great, mileage is low(85k) and it drives great.
All the new repairs will set me back by another 2k+. Can I trade this in for a certified used honda or other car? Or is it worth spending the money and fixing this 11 year old car?
Any opinions will be truly appreciated!
#9 of 10 Re: honda prelude trade-in question [hemanthh]
by steve_ HOST
Oct 20, 2008 (6:44 pm)
This discussion really attracts more Mazda owners - try the To Fix Up or Trade Up, That is the Question discussion for a wider range or responses, including ones from other Honda owners.
#10 of 10 Re: honda prelude trade-in question [steve_]
Oct 20, 2008 (6:50 pm)
Thanks for the clarification Steve. I moved to the other forum.