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Used or new car?
Old 12-17-2008, 08:38 PM   #1
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Used or new car?

Hi,
still looking at the m*zda 5 as our next family car - it has the size, flexibility and decent mpg that would work for our family.

The 2008/9 grand touring is going for about $21k and change, there are 2008's on the lots with about 12k miles or so for about $17-18k.

M*zda is offering 0% for 36 months, 2% for 60 mths on the new one, I found the penfed loan for used cars at 4.75%.

So the new one would run about $1485 more than the used one (including interest)...seems like the new one is worth the splurge?

Also, anyone seen better rates on used car loans that's available nationally or in southern CA ?

Or do I wait another month to see how low the rates go, or snatch the 2% at M*zda on the new one?!
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Old 12-17-2008, 08:53 PM   #2
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bright eyed, be carefull with the 2008's with the 18K or so on them. These usually are rentals and not very well taken care of.
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Old 12-17-2008, 09:09 PM   #3
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So the new one would run about $1485 more than the used one (including interest)...seems like the new one is worth the splurge?
This car could still be running well at 200K miles. If you are planing to keep it a long time (6-10+ years), I'd go for a new one. The additional cost won't mean much when amortized over 10 years, and the good treatment you'll give it in the next year will help assure its longevity. If you are only going to keep it for 3-4 years, then the used one might be the better bet.
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Old 12-17-2008, 10:08 PM   #4
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I'd like to keep at least 10 years...we've been known to keep cars for too long in my family - been trying to convince pops to dump the 18 yr old acura with well over 200k before the bottom falls out! Wouldn't be surprised of pops adopts it after i'm ready to move on!

A little nervous about Mzda, we've been a honda/acura family almost exclusively after my parents got over the american car fantasy ...ha!

But sounds like you have good faith in them!!!
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Old 12-17-2008, 11:13 PM   #5
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I've become a fan of Toyota. Anytime you see a 25 year old mini pickup on the road it's a toyota still running on the original engine.

I've driven my Celica from 90,000 to over 150,000 and the only problems I've had was a seal on the the clutches hydrolic fluid was leaky and had to be replaced, break pads, the oil, and the airfilter.
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Old 12-18-2008, 02:12 AM   #6
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I'd like to keep at least 10 years...we've been known to keep cars for too long in my family - been trying to convince pops to dump the 18 yr old acura with well over 200k before the bottom falls out! Wouldn't be surprised of pops adopts it after i'm ready to move on!

A little nervous about Mzda, we've been a honda/acura family almost exclusively after my parents got over the american car fantasy ...ha!

But sounds like you have good faith in them!!!
We have a 2007 Mazda 5 with 36K miles, just running out of warranty. We have not had the car back to the dealer even ONCE since we purchased it! It's based on the Mazda 3 which is thought by many to be the best small car currently out there.

Features we particularly love about this car:
- Handles more like a sports car; very tight turning circle
- Sliding doors
- Not as low as a sedan and not as high as an SUV
- Shorter than my Acura TL but space for lots of stuff.
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Old 12-18-2008, 04:18 AM   #7
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Mazda 5 looks good and is on my short list for new car come spring,my only concern is those sliding doors,they maybe great in the summer but how are they in the winter or when its been raining then the temps drop to -10,or when the tracks get clogged with slush and road salt.
As for new or used? its nice to have the new one and if the price differential is only a couple of thou then buy it new,price differences over $5k i'd go used.
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Old 12-18-2008, 05:05 AM   #8
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The 2008/9 grand touring is going for about $21k and change, there are 2008's on the lots with about 12k miles or so for about $17-18k.
Edmunds says the '09 grand touring is $23,345 list price, and the "what others are paying" figure is $22,448. The Mazda Certified used price on a 2008 was $21,876. The difference is $572. That being the case, the ones with the $18k price could very well be the former rental as per 73ss454's comment. I would go with the new. I used to buy used cars only, but with 12-18k miles on them. Lately though, the better deal has almost always been "new" due to rebates and low or no interest financing. And now is a good time to buy if you are secure financially (job, pension, etc). They aren't actually giving them away, but I'm pretty sure their margins are as low as they will go...

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Old 12-18-2008, 05:47 AM   #9
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You might want to consider the Honda Fit. I own the UK version which is the Jazz.....as far as an all-round car I find it hard to beat. Good decent gas mileage, dependable, and when you fold the seats down there is plenty of storage space. The version they have in the US in spunkier. Problem with these kinds of cars is the resale is so high you might as well buy a new one since the prices don't go down much after a year or two. I will be retiring back in the US in a couple of years and unless something new comes on the market that would change my mind....I will likely buy a Fit.
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Old 12-18-2008, 07:05 AM   #10
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I have a Mazda 3 and a Mazda Miata. I like both of them very well and have not had any problems with the cars itself.
The trouble starts when you need a dealership. Since Mazda is not very big there are fewer dealers around than Toyota and Honda. We have only one Mazda dealer in town.
When I had my Miata in for preventative maintenance (timing belt & water pump) I received it back with the check engine light on. The dealer claimed it was a "coincidence" that the Oxygen sensor ($200) failed exactly the same time it was in the dealership. Needless to say I wont be back at that dealership which means I will not buy another Mazda as long as I live here.
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Old 12-18-2008, 08:36 AM   #11
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I haven't checked Mazdas, but I know 1-2 year old Toyotas and Hondas really don't sell for a heck of a lot less than a new one any more -- the old "buy almost new" advice has become so mainstream that it doesn't work so well any more. If there's not much different relative to the expected lifespan of the vehicle, I'd opt for a new one which I know doesn't have a history of being abused, and which still has its full warranty.
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Old 12-18-2008, 10:15 AM   #12
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Probably one of the best values you will find are on used Hyundais. A two year old Hyundai can be had for a song. The Sonata is a decent car, and the 10 year 100,000 warranty transfers to the 2nd owner. I see 2 year old nicely loaded Sonatas around here for $11,000- 12,000 all the time, with 25-40,000 miles on them........ A lot of them are 2007's.........
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Old 12-18-2008, 10:25 AM   #13
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I'd like to keep at least 10 years...we've been known to keep cars for too long in my family - been trying to convince pops to dump the 18 yr old acura with well over 200k before the bottom falls out! Wouldn't be surprised of pops adopts it after i'm ready to move on!

A little nervous about Mzda, we've been a honda/acura family almost exclusively after my parents got over the american car fantasy ...ha!

But sounds like you have good faith in them!!!
I think if you can still afford it, stay with the Hondas. I lived out in the country and drove maybe 20,000 miles per year, even while retired. My cars were Volvo, VW, VW Diesel, and Acura Integra GSR. By far, the Acura was best and most fun too. It was totaled in a crash, and I wanted AWD so I went with Subaru, also an excellent car but without the luxury in a nice Acura. I like the AWD, especially times like now with a lot of snow around, or when I travel. But I sure liked the nice thick leather seats and dash and other luxury aspects of the Integra. The 8000 rpm redline and nice exhaust note was fun too.

My ex is still driving her 2001 GSR and it is still great. I like to buy only a model that is still manufactured completely in Japan.

Ha
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Old 12-18-2008, 10:28 AM   #14
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Hey Ha, didn't your DW drive a Ford?
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Old 12-18-2008, 10:43 AM   #15
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Hey Ha, didn't your DW drive a Ford?
Yes, a Taurus. But after it hit 225,000 miles, she bought an Acura from a son who wanted a VW RS32. She put enormous mileage on cars because she was making a very long commute every day.

I bought the Taurus from my mother when she got too old to safely drive. That was in '94. and it was an '88 Taurus with 28,000 miles and good care. I drove it out from Ohio on I90 through the Rockies in terrible weather in February of that year. With just ordinary all-season tires it stayed on the road. I think it is a very nice car, and the new ones look better yet. I know a house painter whose truck is an old Taurus Wagon. If I remember correctly he can put a whole piece of drywall in the back with the seats down. My parents had a lot of Fords because my cousin sold Ford fleets, and could get them a pretty good price.

The Taurus was still fine when wife wanted her Honda. All the while we owned it, I think the only thing we had to do was a radiator and water pump. She was religious about engine and trans care, and it paid off.

I sold it to a neighbor for his daughter who had a new baby and not much money, and afaik she stills drives it.

Ha
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Old 12-18-2008, 10:55 AM   #16
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I also continue to drive an 1988 Taurus with no problems.
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Old 12-18-2008, 11:11 AM   #17
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I also continue to drive an 1988 Taurus with no problems.
Wasn't that the year before they bought Jaguar? I remember the 85 Taurus was touted as the "secret weapon" to take down the pesky Accord and Camry..........
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Old 12-18-2008, 11:12 AM   #18
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We put over 175,000 miles on our 88 Taurus SW. Not a bad car except for two transmission overhauls.
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Old 12-18-2008, 11:46 AM   #19
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Insurance and car registrations fees will be cheaper on a 2 year old car too! Don't forget that. Here in NH (no sales or income tax) they get you with car registration fees that gradually taper off as the car ages.
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Old 12-18-2008, 11:59 AM   #20
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Wasn't that the year before they bought Jaguar? I remember the 85 Taurus was touted as the "secret weapon" to take down the pesky Accord and Camry..........
I don't know if you remember but the Taurus was the biggest seller for a number of years in the 80's and 90's. Then the Explorer was the hot number for Ford. Now they have nothing hot.
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