Trading in for Mazdaspeed 3

[bubu416]

This question might have been asked already by fellow Mz3 owners...

Want to know if theres any way we could trade-in a leased Mz3 for the Mazdaspeed 3. (Hopefully without penalty).

[Jeff-TheBiz]

You have a couple of options...


Originally posted by TheBiz



Originally posted by FLIPSPEED


Hey Jeff, is there any possibility of transferring a lease? Basically I want to lease a Mazda5 but I still have 2 years left on my 3. What are my options?

Very simple...

You basically have 4 options in a lease:

1) Drop off the car at the dealership you leased it from with a cheque for the rest of the remaining payments... OUCH!!! )Not the best option..

2) Find someone to take over your lease (ie lease transfer) There are companies to help you with this.. ie Leasebusters etc. As long as their credit is as solid as yours, Mazda Canada Credit may release you completely from the contract. Easy, but requires some work.

3) Check for equity... ie consider it as a trade in, little bit more work but typically the easiest and less costly. An appraisal is done on the vehicle and a value is determined. If the value is greater than your current payout (residual + remaining payments + admin fee if applicable) then you are in great shape. If the value is less, then you may have to build the difference into your new lease. Best option if you had money down towards the lease and/or a trade and if the car is in great shape/low mileage.

4) Third Party Buyout. Sell the car to someone for the price of your current payout (residual + remaining payments + admin fee if applicable) or more.. Okay if you don\'t mind selling a used car privately.

In any event if you terminate one lease and get into another you will get the loyalty discount from Mazda Canada Credit.

Hope this helps bud.

Jeff



From back in Sept 2005...

[SABIO]

What about option #5.

I did a single pay lease. 14 months left on my ride. If I gave the box back for a trade in?????

similar to option #3? would it lower payments, mazda getting my car back early with only 30K on it. The value is still high on this baby.

[Jeff-TheBiz]

Originally posted by SABIO


What about option #5.

I did a single pay lease. 14 months left on my ride. If I gave the box back for a trade in?????

similar to option #3? would it lower payments, mazda getting my car back early with only 30K on it. The value is still high on this baby.

I think we already had this conversation... :D :D

In your case Sabio, you might be able to give it to someone else to drive for the 14 months in exchange for $$$

[SABIO]

Even Mazda dosen\'t want the box back..ouch LOL:p

[TheProfessor]

Originally posted by SABIO


Even Mazda dosen\'t want the box back..ouch LOL:p

I love how you try and insult the car in one portion of the thread but want to buy another one in another part of the thread :sarc

[Cardinal Fang]

Option #6:

How about trading in a Copper Red Mazda3 GT Sport with luxury package and about 4500 kms that was done on a cash deal?

*Hopes the wife never sees this thread*

[MAZDA Kitten]

Quick question about if you are financing; if you have less than $10,000 oweing. So I am assuming you can trade it in and whatever the balance is left of your payments you can use as a down payment?

[Jeff-TheBiz]

Originally posted by MAZDA Kitten


Quick question about if you are financing; if you have less than $10,000 oweing. So I am assuming you can trade it in and whatever the balance is left of your payments you can use as a down payment?

Read your question three times, and I am still not sure what you are asking...

[ds2chan]

Originally posted by TheBiz



Originally posted by MAZDA Kitten


Quick question about if you are financing; if you have less than $10,000 oweing. So I am assuming you can trade it in and whatever the balance is left of your payments you can use as a down payment?

Read your question three times, and I am still not sure what you are asking...

I wonder if MK meant to say this:

just say she is financing and owes $5000 more for her car.. she wants the mazdaspeed 3.. so, can she trade in her car, minus the $5,000 that\'s outstanding, and get the mazdaspeed 3..

eg, her car is worth $19,000; she owes $5000; mazdaspeed 3 is worth $33,000
can she trade in her car for $14,000 and get the mazdaspeed 3.. and now she\'ll be in debt for $19,000..

not sure if that\'s what she meant but that\'s what I\'m thinking..

[Xenon]

Just out of curiosity...

What is the trade in Value of a 2004 Mazda3 Sport GT, approx 60,000 KMs, kept in very good condition (no major defacing marks or scratches)

Just looking into it... My next car will either be a Mazda3 MPS or a Mzda6 Sport GT-V6... looking at buying in 2007 or 2008.

Would be interesting to see what the value of my car is NOW... Just in case ;)

[bubu416]

What if I\'m planning to trade-in this car @ 1/2 way of my lease (w/ Option #3)

At trade-in, this s/b the conditon of the car:
- 05\' model Sport GT (S-roof+leather), 2 yrs left to lease, approx. 48K-50K, car in good condition.

Am I at a good position to trade? What will it be appraised at? Will the value be greater than payout? How will it work towards the trade of next vehicle?

Thanks!:p

[majic]

Originally posted by Xenon


Just out of curiosity...

What is the trade in Value of a 2004 Mazda3 Sport GT, approx 60,000 KMs, kept in very good condition (no major defacing marks or scratches)

Just looking into it... My next car will either be a Mazda3 MPS or a Mzda6 Sport GT-V6... looking at buying in 2007 or 2008.

Would be interesting to see what the value of my car is NOW... Just in case ;)

check autotrader and blackbook for a rough quote..

[SABIO]

Originally posted by PSIVIC



Originally posted by SABIO


Even Mazda dosen\'t want the box back..ouch LOL:p

I love how you try and insult the car in one portion of the thread but want to buy another one in another part of the thread :sarc

Ya.. but it would be a Turbo Box:D

[TheProfessor]

Originally posted by SABIO



Originally posted by PSIVIC



Originally posted by SABIO


Even Mazda dosen\'t want the box back..ouch LOL:p

I love how you try and insult the car in one portion of the thread but want to buy another one in another part of the thread :sarc

Ya.. but it would be a Turbo Box:D

Very true!

[Mica3SGT]

Anyone thinking about getting out of an existing lease or trading in a purchased car with existing payments that remain outstanding are NUTS. Unless you have a dramatic lifestyle adjustment - keep what you have.

Depreciation is about 30% off the value when you drove your shiny 3 off the dealers lot, coupled with better financing terms now offered by Mazda Canada on the 2006\'s than someone could get for your used car.

Consider that the Mazda 3\'s are more plentiful than the Protoge5\'s since that model was available for only 2 model years. We are now in year three for the Mazda3 model and we will likely see an entirely new 3 platform in 2008. Japanese car makers typically change designs every 4-5 model years. At this point the Mazda3 will truly be a used car - but not yet. Look up what a MP3 Protoge is worth in value over the standard sedan - not much. My favourite colour - yellow - every lot has a P5 still for sale (hint hint to the O team). Some models don\'t look attractive on the used market.

I hate to paraphrase a TV commercial but \"Save Your Money\". The Mazdaspeed3 (or any vehicle) isn\'t worth the thousands you will loose by trading it in now. Let the new car dealers grab their sales from non owners or those at term end on their existing situations. The Kabura will be a more exciting design than the Mazdaspeed3 and if you start saving now you will be ready.

[Jeff-TheBiz]

Originally posted by ds2chan



Originally posted by TheBiz



Originally posted by MAZDA Kitten


Quick question about if you are financing; if you have less than $10,000 oweing. So I am assuming you can trade it in and whatever the balance is left of your payments you can use as a down payment?

Read your question three times, and I am still not sure what you are asking...

I wonder if MK meant to say this:

just say she is financing and owes $5000 more for her car.. she wants the mazdaspeed 3.. so, can she trade in her car, minus the $5,000 that\'s outstanding, and get the mazdaspeed 3..

eg, her car is worth $19,000; she owes $5000; mazdaspeed 3 is worth $33,000
can she trade in her car for $14,000 and get the mazdaspeed 3.. and now she\'ll be in debt for $19,000..

not sure if that\'s what she meant but that\'s what I\'m thinking..


If this is what she is asking... yes.. this example shows she has \'equity\' in the car. This only works if the trade in is worth more than what is currently owed.

[///M]

Originally posted by Xenon


Just out of curiosity...

What is the trade in Value of a 2004 Mazda3 Sport GT, approx 60,000 KMs, kept in very good condition (no major defacing marks or scratches)

Just looking into it... My next car will either be a Mazda3 MPS or a Mzda6 Sport GT-V6... looking at buying in 2007 or 2008.

Would be interesting to see what the value of my car is NOW... Just in case ;)

Approximately 16k + tax: $18400 to your new vehicle.

[DY]

Originally posted by Mica3SGT


Anyone thinking about getting out of an existing lease or trading in a purchased car with existing payments that remain outstanding are NUTS. Unless you have a dramatic lifestyle adjustment - keep what you have.

Depreciation is about 30% off the value when you drove your shiny 3 off the dealers lot, coupled with better financing terms now offered by Mazda Canada on the 2006\'s than someone could get for your used car.

I hate to paraphrase a TV commercial but \"Save Your Money\". The Mazdaspeed3 (or any vehicle) isn\'t worth the thousands you will loose by trading it in now. Let the new car dealers grab their sales from non owners or those at term end on their existing situations. The Kabura will be a more exciting design than the Mazdaspeed3 and if you start saving now you will be ready.


+1 ;)

well, by the time our lease or finance is up.. i\'m sure there\'s a new mazdaspeed3.. more power-packed than ever!

[MAZDA Kitten]

It made sense when I wrote it :(

.. ah nevermind :( . I\'ll worry about crossing that bridge when I get there

[Whos ur dadd]

Originally posted by Mica3SGT


Anyone thinking about getting out of an existing lease or trading in a purchased car with existing payments that remain outstanding are NUTS. Unless you have a dramatic lifestyle adjustment - keep what you have.

Depreciation is about 30% off the value when you drove your shiny 3 off the dealers lot, coupled with better financing terms now offered by Mazda Canada on the 2006\'s than someone could get for your used car.

Consider that the Mazda 3\'s are more plentiful than the Protoge5\'s since that model was available for only 2 model years. We are now in year three for the Mazda3 model and we will likely see an entirely new 3 platform in 2008. Japanese car makers typically change designs every 4-5 model years. At this point the Mazda3 will truly be a used car - but not yet. Look up what a MP3 Protoge is worth in value over the standard sedan - not much. My favourite colour - yellow - every lot has a P5 still for sale (hint hint to the O team). Some models don\'t look attractive on the used market.

I hate to paraphrase a TV commercial but \"Save Your Money\". The Mazdaspeed3 (or any vehicle) isn\'t worth the thousands you will loose by trading it in now. Let the new car dealers grab their sales from non owners or those at term end on their existing situations. The Kabura will be a more exciting design than the Mazdaspeed3 and if you start saving now you will be ready.


Life is more than just dollars. How can you put a value on driving a Mazdaspeed3? I\'m not saying that you\'re wrong (in fact, I think you are right to promote good fiscal responsibility), but sometimes emotion and passion comes into play.

I just bought a new car (used but new to me). Financially, I am an idiot but I am sooooooo happy!