I own a 2004 Mazda 6I, Lapiz Blue(think thats how you spell it) 5spd, with sport package with 11,400 on the clock, and went to trade her in for a 05 rsx type s, Suggested retail for my car is about 18k, blue book is 13800, they offered me 13600 and I told them I would settle for 15000 they declined, I owe 15700, I was told if it was certified I can get more for it, need to know how to do so...... Thanks guys.

 

 

Only a Mazda dealer can certifie the car. Once you trade it in or sell it, they can go over the car with an inspection list and return everything to near factory specs and slap on some more factory warranty from Mazda. Most manufacterures have a program like this, but the car has to go to a the type of dealer from which it came. You are upside down at this point, no way around it accept to finance some of the negative equity on the new car or plunk down some cash.

 

thanks, sounds good, I will see if the dealer calls me back to see if they want the sale bad enough but they even had my color in stock magnesium metallic. along with the new orange.

 

nah son you buy it as a certified car, if it isnt certified when you buy it then it wont magically become ceritfied after the fact

 

So no dealer will let you pay them to have your car certified, right? It has to have been traded in initially and then the dealer will do a check over of the car and then certify it only to resell it and make more $ right?

 

right

 

just trade in the car at 13600 and negeotiate the Type S price.

 

how is that you owe more than the car is worth?
did you buy the car new? did it depreciate that fast, thats crazy

 

why would you trade it in? No offense but trading a car in is really stupid..You can get at least 1500-$2k more easily by selling private party..Think about it..you wan't to get the most you can for your car...the dealer want's to give you the least it can to turn a profit, do you see the confilict of interest?

 

Well apparantly in NY state cars do depriciate that fast, the best part is that I even got the mazda at invoice because of my work discount and I also got 0% on the car, so I paid 18500 for it initially instead of 23-24K. I also already negotiated the price of the RSX down to 23381. Any more ideas?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by 01-0720 &raquo;</TD></TR><TR><TD CLASS="quote">how is that you owe more than the car is worth?
did you buy the car new? did it depreciate that fast, thats crazy</TD></TR></TABLE>


FYI - most new cars priced around 20K depreciate $4K - $7K in the first year of ownership. Even on a shorter 36 month loan your first year of payments barely cover the depreciation.

Your down payment needs to at least equal (first year depreciation) - (principal reduction due to payments).

Let's say you take out a 60 month loan on a new RSX, with the total (including TTL and other fees) is about $26,000.

First year of payments (assuming 5% interest) = $520 * 12 = $6240 - $1150 (interest cost) means you've paid about $5000 towards the cost of your car.

After 1 year the car can be traded in for approx. $19K

$26K - $19K = $7000 difference between your original loan amount and trade in value. If you put 0 down, you're over $2K in the hole.

Doh! you'll about break even with a 36 month loan.


In short- it's a really bad idea to make a negative down payment (finance loss on a previous vehicle) when buying a new car.

 

Very interesting......well today I drove about an hour and a half to the next closest acura dealership and they offered the same amount, but they went about $200 lower for the rsx. So now I have to find the time to try and sell my car. Any good places to sell your car besides Autotrader or ebay?

 

newspapers, locally, or on inet. you can try modifiedcartrader.com i think

 

it's called ebay and if you market your car right will solve all of your problems

Paying the labor rates to get a car certified by a dealer will be alot. It's not for a dealer who brings in a used car because they are already paying the techs and they only have to cover there pay and cost on any parts while you have to pay 65 and hour plus full retail on parts.