No Longer Upside Down!

Stealth01 · Postby **Stealth01** » Sat Jul 24, 2010 9:14

So I was thinking about refinancing the Speed6 at a lower rate, and I called to get the 10-day payoff. I owe $17,040 on the car, and according to Kelly Blue Book, it is worth $17,265 in private party sale.

WOOT!!

Edmunds has it at about $16K, but either way, I'm happy!

If I suddenly need to sell it (like if we move somewhere warmer), I can break even (or close) on the loan!

chickenwafer · Postby **chickenwafer** » Sat Jul 24, 2010 9:14

Yeah, I remember the payment I sent in on my old RX-8 that took me to owing less than what it was worth. Then about 4 months later the bottom end of the market on those cars completely feel out and I ended up owing about another $3k more than what it was worth hahaha!

Not to be a downer, but I think you'd have a pretty hard time selling your car private party for anything more than $16.5k, and trade in is more like $14-$15k if you're lucky. Mazda's just don't hold value.

Stealth01 · Postby **Stealth01** » Sat Jul 24, 2010 9:14

chickenwafer wrote:Yeah, I remember the payment I sent in on my old RX-8 that took me to owing less than what it was worth. Then about 4 months later the bottom end of the market on those cars completely feel out and I ended up owing about another $3k more than what it was worth hahaha!

Not to be a downer, but I think you'd have a pretty hard time selling your car private party for anything more than $16.5k, and trade in is more like $14-$15k if you're lucky. Mazda's just don't hold value.

I think trade-in is even lower than that. And if I got $16.5 in private party sale, I'd be ecstatic. But I'm not selling it until it's paid off, when it becomes pure down-payment. LOL.

tbot · Postby **tbot** » Sat Jul 24, 2010 9:14

i agree with all that, but whats ****ed up is dealerships are still selling ouyr cars for $20k!!!

dommo_g · Postby **dommo_g** » Sat Jul 24, 2010 9:14

Not sure why Mike thought that above post was unhelpful and groaned it. It was just facts.

And the book doesn't buy cars, people buy cars. I just sold a car today that the book says was worth $75 in fair condition. It wasn't even running and I sold it for $300.

I'm pissed at how shitty my MS3 is on resale. Sticker on that car was $26,300, and today it has an ACV of around $14-15k with well under 20k miles on the clock?? My SRT-4, a ****ing NEON for pete's sake, kept its value way better for way longer than this car. I'm really surprised. Even though I say I never buy a car for resale value, I'll never buy a new Mazda again. I'll just pick up a used one.

chickenwafer · Postby **chickenwafer** » Sat Jul 24, 2010 9:14

I'm used to getting "groaned" at uselessly.

I don't remember my first groaning...it was rather uneventful. The second I remember was when I quoted the picture of some hot chick, and some toolbag with about -4 post groaned it. Never said why, and he hasn't been around for ages (UtahRX7 I believe)

Now this one, LOL. Facts are fact, roninspeed3. Why don't you post up your reasoning for your groan?

This who groan system is pretty stupid anyways, LOL. If you have a problem with my post, PLEASE, tell me why.

PS, this is why I've never groaned at anyone, but maybe I should start so I can just disapprove your post and never tell you why!

MazdaTom · Postby **MazdaTom** » Sun Jul 25, 2010 9:14

I groaned because I agree- the groan system is effing lame and I don't think I've ever groaned anyone before and you seemed like you were just asking for it.

chickenwafer · Postby **chickenwafer** » Sun Jul 25, 2010 9:14

LOL, Sweet!

roninspeed3 · Postby **roninspeed3** » Sun Jul 25, 2010 9:14

When I first read the post and the response I just took it as someone being pretty happy they were not upside down (I feel the same way, but I guess at $18k I still am upside down based on this thread) and someone else just pissing on the parade.

Now that I think about it- like Dommo said “It’s just facts”. And this forum is for opinions good or bad so perhaps that is my first and last “groan”. I really like my 3 and so far I’m happy I got it. My last two cars were both Mitsu’s and they really pissed me off as the Eclipse I bought for my daughter has lost most of the paint. There is a lawsuit against them but what the heck will $150.00 do?

Anyway, I’m pro Mazda , took exception to what I interpreted as a negative response and hit the “G” button.

chickenwafer · Postby **chickenwafer** » Sun Jul 25, 2010 9:14

Fair enough- although Stealth knows I wasn't pissing on his parade (or at least I hope he knows...). It's just facts about how Mazda resale blows.

speedjunkie · Postby **speedjunkie** » Sun Jul 25, 2010 9:14

I groaned because I don't like that you're so tall Dave.

LOL I figured you'd see that I was messing with you...mostly because you said you were used to getting groaned at uselessly and I didn't want to explain why. LOL

And Ronin, it's called the G SPOT, not the G Button. Although I think most will agree it's just a myth.

tbot · Postby **tbot** » Sun Jul 25, 2010 9:14

well im in the same boat stealth...owe $16k

but still doesnt mean i can get another car...my credit is so jacked i doubt i'll ever have another newish car

and i really want an R32 too...sad day

Stealth01 · Postby **Stealth01** » Sun Jul 25, 2010 9:14

tbot wrote:well im in the same boat stealth...owe $16k but still doesnt mean i can get another car...my credit is so jacked i doubt i'll ever have another newish car

and i really want an R32 too...sad day

That's OK. Just keep building the MS6! After all, we have to find a way to beat the NEW Mustang 5.0s!

tbot · Postby **tbot** » Sun Jul 25, 2010 9:14

lol...id rather just get a 5.0 hahaha. oh well, we'll see what happens hehe, i have a few ides up my sleeve, which involve the car but prolly not what anyone thinks...

rmeeker13 · Postby **rmeeker13** » Sun Jul 25, 2010 9:14

Stealth01 wrote:That's OK. Just keep building the MS6! After all, we have to find a way to beat the NEW Mustang 5.0s!

Thats wishful thinking man!:)

I owe 19k on mine still...i believe trade in is 14k!:(

No Longer Upside Down!

No Longer Upside Down!

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