How much is our MZ3 worth?

[TheProfessor]

We're going to be selling my wife's Mazda3 soon and I'm wondering what you guys think it's realistically worth.

Just as background, it's a 2005 Sport GT, 5 speed manual, white exterior, black cloth interior, moonroof, 6 disc cd changer, A/C, etc. etc. with only 30,800km on the odometer. Unfortunately the factory warranty just expired yesterday which I know will affect the price, but the car is mint. No accidents, non smoker, and the only 'mods' are HID's with independent foglights, winter steelies with Viking Snotech tires and a stubby :chuckle

There are no major scratches or dents, though two of the rims have minor curb rash.

Do you think I could ask $16,500 and expect to get about $15,500?

Also, do you think I should undo the HID's and DRL mod so that it's truly stock?

[Dragazn]

I don't know if I could be much help, but during the last AA meet, I was talking to pimpin_29y and Flagrum_3 and they have said the resale value of the 3s right now are ridiculously low. Something to do with all the 04-05 lease contracts ending.

[ZeroChalk]

Wow my car is so similiar to your's in terms of vehicle condition, km, etc. I think you may have 400 km on me.. I'm curious as to how much I could sell it as well. Warranty runs out on monday.

[yearoftherat]

Also, do you think I should undo the HID's and DRL mod so that it's truly stock?
Yes...most people would rather buy a car unmodded than one that has been.

[TheProfessor]

I don't know if I could be much help, but during the last AA meet, I was talking to pimpin_29y and Flagrum_3 and they have said the resale value of the 3s right now are ridiculously low. Something to do with all the 04-05 lease contracts ending.

It's true, there are literally hundreds of MZ3's on auto trader right now, and the pricing is all over the place.

Having said that, we have a few things going for us over the majority of others:

- Private sale (one less tax, usually more desirable)
- White Sport GT (very few, if any)
- Very low mileage (there are others with just as low mileage, but they're all asking roughly the same price)

Plus I'd be throwing in the winter rims/tires plus offer the car certified and e-tested.

[Swerny]

there was another thread mentioning a dealership had a new 2007 GT for $17,000, so I think your asking price might be high.

I would see what the going rate is in the AutoTrader and then price yours accordingly.

Having just sold my 2003 Protege, I will say that the Mazda resale value is depressing.

[TheProfessor]

there was another thread mentioning a dealership had a new 2007 GT for $17,000

WTF, seriously? Was it like a one off thing or did they have a ton of them?

If that's true that's going to through off the residuals on a lot of leased MZ3's!

Edit, just checked trader.ca and the average price for a 2005 MZ3 is $15,000, and ones comparable to ours are listing for closer to 17-18K, though from dealers.

[Swerny]

WTF, seriously? Was it like a one off thing or did they have a ton of them?

Here's the thread:

http://www.torontomazda3.ca/forum/showthread.php?t=24674

Just to ad, you'll also be competing against Mazda themselves.

With 0% financing, you're saving a ton of money vs the 7% or so you would pay on a persoanl loan.

[TheProfessor]

Okay, well based upon that thread there are a few things that make me feel somewhat better:

1) Those are likely cash discounts which means that the buyer would have to pay the same 7% interest and not the 0% Mazda is offering
2) Those prices appear to be before taxes, freight, PDI, and all that other stuff
3) I'd like to see the prices confirmed by Mazda (Jeff, any input?)
4) The price quoted is from Markham Mazda, not the most honest/reliable dealers around
5) The price listed does not include a few items like moonroof, cd changer, winter wheels and tires, etc.

[x_o_k_x]

there was another thread mentioning a dealership had a new 2007 GT for $17,000, so I think your asking price might be high.

I would see what the going rate is in the AutoTrader and then price yours accordingly.

Having just sold my 2003 Protege, I will say that the Mazda resale value is depressing.

The other day i was at the dealer picking up my car and saw a sigm that for 2007 mazda3 gx only costs $14,998.00. So yeah the resale value is very low, kinda depressing. Whats up with that? its not like we drive gm cars here..

[mit-gee-mui]

Maybe you can work out a deal with this person.
http://www.torontomazda3.ca/forum/showthread.php?t=23157&highlight=white

[x_o_k_x]

Maybe you can work out a deal with this person.
http://www.torontomazda3.ca/forum/showthread.php?t=23157&highlight=white

that person is looking for a sedan.. but doesnt hurt to try..

[Kevin@nextmod]

I pretty sure you can get $15k-16k with that mileage. I remember when i sold mine back in december, i got $15k. But they said mine was a hatch back so they gave me a grand more. I didn't trade it with dealer. My friend at the used car dealer bought it from me.

[TheProfessor]

that person is looking for a sedan.. but doesnt hurt to try..

Well I don't want to start getting into negotiations with possible buyers until we've found the replacement car. I thought I had found one yesterday but the seller wasn't willing to budge on the price as much as I had hoped.

Thanks for the input, I'll be sure to keep you guys posted when we sell it.

[TheProfessor]

Just wanted to quickly update this thread in case anyone was curious. We ended up selling our Mazda3 after only two days on Craigslist! We listed it for $16,499 expecting $15,000. We ended up selling it for $15,250. I know for a fact that I could have sold it for more but since our new car was ready for pick up this past Saturday we wanted to just get it over with. All in all I think we both (buyer and seller) came to a pretty fair number and both parties are happy.

I also did not include the winter rims/tires so I'll get a little more from the sale of those!

[bhrm]

Just wanted to quickly update this thread in case anyone was curious. We ended up selling our Mazda3 after only two days on Craigslist! We listed it for $16,499 expecting $15,000. We ended up selling it for $15,250. I know for a fact that I could have sold it for more but since our new car was ready for pick up this past Saturday we wanted to just get it over with. All in all I think we both (buyer and seller) came to a pretty fair number and both parties are happy.

I also did not include the winter rims/tires so I'll get a little more from the sale of those!

Congrats.

That's scary, $15,000. I bought mine for $29k with extd warranty, 07. Except I have more mileage than you, 31,444km.

[TheProfessor]

Congrats.

That's scary, $15,000. I bought mine for $29k with extd warranty, 07. Except I have more mileage than you, 31,444km.

Yeah, the MZ3 didn't hold it's value quite as well as I would have liked, but what can you do. I think one of the main 'problems' is that there are just so many available for sale. On autotrader right now there are a total of 500 Mazda3's available in the Toronto area alone!

[LockOut]

That's because all of the '04 leases are coming up, isn't it? Kinda sucks that that's all they're worth these days, but like you said, what can ya do... At least you're getting something for it...

[TheProfessor]

I think the 2004 and 2005 models are now coming off lease. It really shouldn't be too much of a concern if you plan on keeping it for a while and take care of your car.

[Jeff-TheBiz]

I think the 2004 and 2005 models are now coming off lease. It really shouldn't be too much of a concern if you plan on keeping it for a while and take care of your car.

Also the 2006s were available on a 2yr 0% lease as well... so they are also coming back..

Back promo by Mazda Canada Credit..

Resale should be corrected within a year or so.