Looking to trade in, needing advice - Mazda3 Forums : The #1 Mazda 3 Forum
 
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post #1 of 5 (permalink) Old 05-21-2008, 07:46 PM Thread Starter
Le Mans: GT Class
 
Join Date: Jul 2007
Location: South Jersey
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Looking to trade in, needing advice

hey everyone, long time no talk...

anyway im looking to upgrade into a mazda speed 3 or a mazda speed 6. I currently have 2 more years until i pay off my 2005 3. Im looking for advice on the trading in process, and how it would effect my current financing situation?

..thanks a lot

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post #2 of 5 (permalink) Old 05-21-2008, 07:53 PM
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Re: Looking to trade in, needing advice

Whats the maximum you'd pay per month? How much do you owe on your 3?

I traded in my 2004 2.0 MZ3, the dealer gave me 10k for it BUT I still owed $8k on it... so I had about $2k to put towards the MS3. I didn't want to pay more than $400 a month for the car BUt that meant I had to finance for 6 years :\ Not such a big deal because I always pay more than the minimum on my car note so hopefully it will get paid off sooner. But it got me a payment of $373 a month for my MS3, only about $60 more a month than what I was paying on my old 3.

There's so many other factors so your situation is/could be completely different than mine, but that was my experience.

**not on this forum and not unless its in a for sale thread.
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post #3 of 5 (permalink) Old 05-21-2008, 08:20 PM
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Re: Looking to trade in, needing advice

You need to find out what your payoff is, then what you car is worth. Hopefully the loan is less than the value of your car! If your car is worth more than the payoff, the equity can be used to your new car. If you owe more than your car is worth, then you need money down and/or will have to roll that negative equity into your new loan (very bad thing to do).

With 2 years left on your loan you should be on the + side so you'll have equity to lower the amount you'll finance on the MS3 or MS6.

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post #4 of 5 (permalink) Old 05-21-2008, 08:23 PM Thread Starter
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Re: Looking to trade in, needing advice

thanks a lot for the info...would any mazda dealership be able to help me out? and also would different dealerships give different prices?

Magnaflow Exhaust | Eibach Pro-Kit | TWN Short Shifter | Skunk 25th Anniversary Weighted Knob | Alpine 7" DVD/CD/Navi System | MS3 Wheels | Custom Painted Interior


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post #5 of 5 (permalink) Old 05-21-2008, 08:24 PM
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Re: Looking to trade in, needing advice

Any dealer should assist you and the prices the offer will most likely vary. It's best to compare and shop around. You can educate yourself on prices of your current and new cars on edmunds.com to get an idea of what prices are fair.

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