I'm 22, 21 when I bought my PRO ES. Another fellow on this board (fowler3) is 72. The PRO is for those that wanna drive a "sporty" sedan but not pay $30.000+ for it.
I see mostly people 20-35 buying P5s, and 30-45 in PRO sedans...
I'm right at the cusp (pushing 40) and while I like the 5 for now, will I like it at 43, 45 and beyond? The Pro sedan is ok, its growing on me. But I understand they're doing a body change next year. Hate to get something that's so quickly outdated. But its hard to turn away from 0% financing. Any thought on how that's going to effect the car's long term value?
Phollie wrote: "But its hard to turn away from 0% financing."
Yes, of course. Low finance rates are tempting, as they're intended to be. However, some folks may be unaware that other alternatives may be better for them. Even if you are aware of the actual figures involved in your purchase plans, other readers may still be uncertain of the better course to take: Rebate/discount vs. lower finance rate. I'd like to share some figures and a few thoughts that I hope may benefit you and others.
Financing a new car purchase at 5% for 60 months with a loan amount of $12,000 would cost you $1587 in interest over the full life of the loan. That's exactly how much you'd save with a 0% loan. But a discount would likely be better if it equals (or exceeds) $1587 in this case.
On the occasion when I've examined the options, I've found that the dollar amounts between rebate vs. low interest loan were similar. That being the case, I would always opt for the rebate/discount when only one was an option, but not both.
I get a rebate up front --- right now --- and in _full_. I only get the full benefit of a low interest loan if I carry the loan through to completion. There are a lot of reasons why one might not carry a loan through to completion, such as an accident that totals the car early in its life, etc. With a rebate and discount, I get it all immediately, and I cannot later "lose" a portion of it as I might with a low interest loan if I get rid of the car before the loan is paid off.
One needs to work the figures for each individual deal, of course. I computed the interest payment in the example above on my home computer, but I'm sure others can quickly point to websites offering interest calculators that will allow the new car purchaser to compute exactly what the figures are for his particular situation.
Again, generally, it has been my experience that rebates and/or discounts up front are the better choice and make more sense than taking the low interest loan.
If you own your home, you might wish to consider a home equity loan. The rates are very good today, and the interest is deductible. (Note: I've had auto finance managers lie to me declaring the interest is not deductible. It is deductible with few exceptions which would be unlikely for the average borrower.) Beware however: If you default on your loan, they don't repo the car, they repo your HOUSE! Keep that in mind when making the decision. ;-)
Mazdas, RX7 and Miata, hold their value very very well. Miata, because there is nothing close to it in price for a 2-seat roadster, and RX7 because of the rotary.
Other Mazdas tend to blend in the crowd a lot more and do depreciate faster that Toyo/Honda.
I don't think the P5 or the 6 will deviate from this path, but I bet the RX8 with the Renesis will holds its value as well as the old RX7 did...
2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)
It seems like P5 is doing slightly better than the Protege Sedan. Edmunds estimates $12716 for 2002 model vs $17155 MSRP new, i.e., 74.1%. Whereas 2002 Protege ES value is $11568 vs $16400 MSRP new, i.e., 70.5%.
No. But the side sills wont rust if they get chipped and they do a fine job of protecting everything above them. I've got over 33,000 miles on my car now and the sills still look good so I wouldn't worry about them.
Still have the 2002 P5's. Audia8q, perhaps you could enlighten me/us. How does a dealer move out these leftover 02's when the 03's have a longer warranty, and 0% for 60 months? My local dealer told me that there is $1000 dealer cash on the 02's but no more special financing.
But if I can get an 03 for close to invoice and 0% for 60 months, and a longer warranty, and a year's less depreciation, that seems like it would be worth more than the $1000 you get for buying an 02. Is there a mutually beneficial deal to be had for a leftover 02, or is it a no-brainer to get the 03? Seems like either the dealer would have to sell at a huge loss to move it (the 02) or wait for a naive customer to amble on in and take it.
One of the local Mazda dealers even has a couple of pre-mid-cycle refresh P5's if that gives you any idea of the demand for them here.
I've got 2 Mazda dealers within 35 miles and another about 50 miles away. ST. Louis is about 1 1/2 hours away with a few very large dealerships. My local dealer has about 4-5 2002 Pro 5's and about that many sedans. One of the dealers in St. Louis has about a dozen 2002 P5's but not many sedans. The dealer that is 50 miles away is pretty small, they only have 2 P5's with no options (one of them is yellow though).
Luckily for us we dont have any 02 anything left except some B-series pick up trucks....but mazda has some additional dealer incentives that can make the 02 attractive for some people...Remember, many consumer are stretching their budgets to buy a new car and often $500-1000 will make enough of a difference to the buyer to settle for the left-over model..Of course many times the savings is alot more than 500-1000. In this class most buyers are payment buyers and the $30 per month can swing things.
Thank you for taking the time to reply. At 0% for 60 mos. $1000 difference would only be about an extra $17 or so per month. It seems to me that considering that an 02 will be worth at least $1500-$2000 less (used) that it would take more than a $1000 incentive to move them.
It just seems to me that if I were to buy a P5 that an 03 would actually be cheaper, due to savings in interest charges and the longer warranty, than it would be to get an 02 leftover.
My dealer tried to interest me in some 2002 P5s before the 0% financing came out. They didn't have any in silver, so it was a non-issue anyway, but he seemed frustrated that he was stuck with them. With as many P5s as I see around here with Millennium Mazda on the back, I don't know what he was complaining about.
if I had a bunch of 02 P5's and I couldn't offer a good reason to buy one instead of an 03. Seems like Mazda needs to help move these leftover by offreing a bigger incentive ($2500 or so).
Has anyone removed the crossbars on their P5's roof rack? If so, did it significantly reduce wind noise? I ask because I haven't found wind noise to be an issue to begin with.
Removing the cross bars just about eliminates any wind noise you've been hearing. Of course, then you'll hear the noise from the mirrors, etc. but it will be waaay quieter w/o the roof rack.
I hate to beat a dead horse, but I thought I should shed some light on this continuing issue. It's been months since I last visited Edmunds, primarily to vent about my poor mpg, and I thought since I've recently moved (from CA to OR) and my car is a little older and I don't do near the amount of city driving I once did, an update was in order. This may be a bitter pill to swallow, bucking the conventional wisdom of those owners with respectable mpg who are constantly reassuring people like myself that the issue isn't the car it's: fuel additives, break-in period, driving habits. Well, with 11k on the car, no more funky gas and little or no traffic to contend with, I just pulled in my worst tank ever at 17 mpg. Frankly I'm at wits end. My new local dealer is as useless as my dealer was in LA, and Mazda NA does little more than document complaints without offering any assistance. So, at last I've set an ultimatum...6 more months without an improvement and I'll finally get that Pearl white Escalade I've been coveting...heck, I think the mpg might even be a bit better.
Looks like you indeed have a problem with your P5. With winter gas and an auto tranny I average between 25 and 26 mpg. I am disappointed that you can't find a dealer to address the problem with your car. Are there any lemon laws you could use to your advantage?
I'm looking at a P5 with close to $19k sticker,does anyone know what I should expect to pay for the car if I go with the 0% financing option? Thanks for any input.
Therein lies the paradox: if the dealer can't pull any codes when they do a diagnostic on the car, there is no problem. And at this point (at least according to the dealer and Mazda NA) poor mpg does not a problem make.
Unless your service dept. is just a bunch of jerks (or you were one when you went in ) then the service tech(s) could at least try to figure it out with you. Whatever happened to trying to be just plain old helpful and nice, even if you don't HAVE to?
If the dealer says "no code = no problem" then they are jerking you around.
A bad sensor could be generating an incorrect voltage or resistance instead of having totally failed; this could fool the computer and cause problems without being far enough out of tolerance to trigger a diagnostic code.
In your case, for the MPG to be so low it sounds like the engine is running too rich (more gasoline injected than is necessary for a given amount of air). They should be inspecting the spark plugs for evidence of rich running (black sooty deposits instead of the normal brownish color). They should be following the shop manual test procedures for the air sensor, throttle position sensor, oxygen sensor, etc. This involves measuring actual voltages at test points rather than just looking for computer codes. Hopefully they have a tech who is actually capable of this...
Another possibility: Could there simply be a gas leak?
has anyone considered that the driver might be the source of poor gas mileage??? After 20 years in the biz this is often the source for poor gas mileage.
We have quite a few customers who drive rather aggressively and the gas mileage reflects those driving habits. I am a very heavy footed driver and the gas consumption on my demo's are always terrible.
17 mpg? From a 130 hp 2.0L DOHC 4 cyl? You'd have to drive it VERY, VERY hard to get that mileage--and probably let it idle for about a couple hours every tankful. I don't think the driver is the issue here. My old Mustang 5.0L got 17 mpg and 300 lbs-ft of torque doesn't promote a light throttle foot. Something IS wrong with that car.
Your fuel consumption issues are 80% likely to be the result of your local Oregon dealer not knowing enough about California emissions. I'm no mechanic, but there are additions to a vehicle driven in California, such as a second oxygen sensor and more restrictive catalytic converter(or dual cats). You would think it would increase your economy, but if one of these additional parts has gone bad, and your dealer has not yet recognized the problem, your engine may be running rich. Your decrease in hp due to the restrictions also may cause you to be more, shall we say, spirited with the gas pedal. I recommend contacting Mazda about whether their are any ill-effects or recalls for CA emissions parts, and then remind your Oregon dealer that this car has CA emissions on it, and to check this as a cause for your issues, or just remove them altogether. Remember, this is a newer model and may still have unresolved design problems. If you find that CA emissions is the problem, please find the nearest environmentalist and smack them upside the head... hard!
All sound suggestions, however the primary issue here, at least in the Western states where there are few if any free-standing Mazda dealerships, seems to be a general lack of knowledge about the vehicle. The service department manager I spoke with recently asked if the car was a 2000 model and hadn't a clue that 17 mpg wasn't even close to the EPA estimates. It's frustrating as all hell. It seems as cars have gotten more advanced the service techs have inversely gotten more stupid. I long for my '74 Alfa Spider, perhaps not the most reliable car but adjusting the oxygen to fuel ratio didn't involve much more than a few turns from a screwdriver.
Let's keep things friendly, and avoid making off topic comments that might put other members on the defensive... and veer this discussion off topic. Okay?
To those concerned: feel free to send me an email if you have any question/comments. And now, back to the subject of the Protege5. Thanks for your participation. ;-)
And now, back to the subject of the Protege5. The Mazda Protege5s seem to be very nice vehicles. Do the get good gas milage? Can I make really cool mods to them? Did everyone have a very merry Protege5 Holiday?
To protegextwo- Post# 5717. Lol, well you're on the right track, but perhaps we can do a little better than that... and still keep it civil. ;-)
To elaborate on your theme, how about some some detailed vehicle reports? I haven't seen any in this discussion for quite some time.
Anyone interested in listing: total miles to date; current mpg (include driving habits); maintenance to date; any wash/wax tips; new accessories or mods; road trips or cargo capacity experiences; and overall impressions (pro/cons) of your Protege5... compared to when you first purchased?
Also, you can report back every few thousand miles to update again. I think this would be interesting. Who's game?
Just wondering if they are on the net anywhere to read in detail about what the recalls are on my 2002 P5? I see the clutch judder I'm having has been talked about, where could I read this info for my P5?? Thanks.
I have a red 2002 P5 manual pre-midyear update that I purchased in March. Currently 17,300 miles. I have been averaging 29.5 mpg with a 50/50 mix of city and highway. I am a reasonably aggressive driver.
Pros: fun to drive, stereo (let the debate begin!), front seat comfort, don't see other P5s all the time
Cons: clutch chatter, tons of sqeaks & rattles in the interior (I have given up on finding and fixing them, and just keep the stereo turned up)
Maintenance: Other than the clutch chatter that was not fixed, had the passenger seat base replaced to fix an awful rattle
Overall I still like the car, but I will not buy another Mazda due to the cons listed above, nor do I recommend it to anyone that asks.
White Christmas meant some good snow driving. I was quite please that the stock Dunlops got me around the country roads just fine. No doubt some good snows would be better, but at this point things are good in the snow.
Hitting 13,000 miles without a problem, rattle, or otherwise. I'm really surprised at how quiet things have been considering it's been below freezing for over a week. Usually the cold brings on the creaks.
About my only complaint is the doors seem pretty light. I'm routinely having to shut them twice after not pushing them hard enough the first time.
Comments
I know I've gone looking for it in my Pro and there isn't a spot to put one in.
Dinu
Dinu
Note: This is a joke..I wouldn't strangle anybody.
Also, what's the best deal out there for one of these right now?
I see mostly people 20-35 buying P5s, and 30-45 in PRO sedans...
Dinu
It won't. It will affect it's short term value though.
"But its hard to turn away from 0% financing."
Yes, of course. Low finance rates are tempting, as they're intended to be. However, some folks may be unaware that other alternatives may be better for them. Even if you are aware of the actual figures involved in your purchase plans, other readers may still be uncertain of the better course to take: Rebate/discount vs. lower finance rate. I'd like to share some figures and a few thoughts that I hope may benefit you and others.
Financing a new car purchase at 5% for 60 months with a loan amount of $12,000 would cost you $1587 in interest over the full life of the loan. That's exactly how much you'd save with a 0% loan. But a discount would likely be better if it equals (or exceeds) $1587 in this case.
On the occasion when I've examined the options, I've found that the dollar amounts between rebate vs. low interest loan were similar. That being the case, I would always opt for the rebate/discount when only one was an option, but not both.
I get a rebate up front --- right now --- and in _full_. I only get the full benefit of a low interest loan if I carry the loan through to completion. There are a lot of reasons why one might not carry a loan through to completion, such as an accident that totals the car early in its life, etc. With a rebate and discount, I get it all immediately, and I cannot later "lose" a portion of it as I might with a low interest loan if I get rid of the car before the loan is paid off.
One needs to work the figures for each individual deal, of course. I computed the interest payment in the example above on my home computer, but I'm sure others can quickly point to websites offering interest calculators that will allow the new car purchaser to compute exactly what the figures are for his particular situation.
Again, generally, it has been my experience that rebates and/or discounts up front are the better choice and make more sense than taking the low interest loan.
If you own your home, you might wish to consider a home equity loan. The rates are very good today, and the interest is deductible. (Note: I've had auto finance managers lie to me declaring the interest is not deductible. It is deductible with few exceptions which would be unlikely for the average borrower.) Beware however: If you default on your loan, they don't repo the car, they repo your HOUSE! Keep that in mind when making the decision. ;-)
I hope this has been helpful.
unfortunately mazdas (proteges) don't hold their value very well. hopefully the p5, 5 and rx8 will change this fact across the board.
Other Mazdas tend to blend in the crowd a lot more and do depreciate faster that Toyo/Honda.
I don't think the P5 or the 6 will deviate from this path, but I bet the RX8 with the Renesis will holds its value as well as the old RX7 did...
2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)
Bruno
0% APR up to 60mo on Protege/Protege5 until 1/2/03
But if I can get an 03 for close to invoice and 0% for 60 months, and a longer warranty, and a year's less depreciation, that seems like it would be worth more than the $1000 you get for buying an 02. Is there a mutually beneficial deal to be had for a leftover 02, or is it a no-brainer to get the 03? Seems like either the dealer would have to sell at a huge loss to move it (the 02) or wait for a naive customer to amble on in and take it.
One of the local Mazda dealers even has a couple of pre-mid-cycle refresh P5's if that gives you any idea of the demand for them here.
PS: I guess this could go for the sedans to?
Financing is 2.9% for sedans and 4.9 (I think) for 5s.
Dinu
Rich
It just seems to me that if I were to buy a P5 that an 03 would actually be cheaper, due to savings in interest charges and the longer warranty, than it would be to get an 02 leftover.
A bad sensor could be generating an incorrect voltage or resistance instead of having totally failed; this could fool the computer and cause problems without being far enough out of tolerance to trigger a diagnostic code.
In your case, for the MPG to be so low it sounds like the engine is running too rich (more gasoline injected than is necessary for a given amount of air). They should be inspecting the spark plugs for evidence of rich running (black sooty deposits instead of the normal brownish color). They should be following the shop manual test procedures for the air sensor, throttle position sensor, oxygen sensor, etc. This involves measuring actual voltages at test points rather than just looking for computer codes. Hopefully they have a tech who is actually capable of this...
Another possibility: Could there simply be a gas leak?
We have quite a few customers who drive rather aggressively and the gas mileage reflects those driving habits. I am a very heavy footed driver and the gas consumption on my demo's are always terrible.
To those concerned: feel free to send me an email if you have any question/comments. And now, back to the subject of the Protege5. Thanks for your participation. ;-)
Revka
Hatchbacks & Wagons Host
I hope that was PC enuff?
:-)
-larry
To elaborate on your theme, how about some some detailed vehicle reports? I haven't seen any in this discussion for quite some time.
Anyone interested in listing: total miles to date; current mpg (include driving habits); maintenance to date; any wash/wax tips; new accessories or mods; road trips or cargo capacity experiences; and overall impressions (pro/cons) of your Protege5... compared to when you first purchased?
Also, you can report back every few thousand miles to update again. I think this would be interesting. Who's game?
Revka
Hatchbacks & Wagons Host
Thanks.
Pros: fun to drive, stereo (let the debate begin!), front seat comfort, don't see other P5s all the time
Cons: clutch chatter, tons of sqeaks & rattles in the interior (I have given up on finding and fixing them, and just keep the stereo turned up)
Maintenance: Other than the clutch chatter that was not fixed, had the passenger seat base replaced to fix an awful rattle
Overall I still like the car, but I will not buy another Mazda due to the cons listed above, nor do I recommend it to anyone that asks.
Hitting 13,000 miles without a problem, rattle, or otherwise. I'm really surprised at how quiet things have been considering it's been below freezing for over a week. Usually the cold brings on the creaks.
About my only complaint is the doors seem pretty light. I'm routinely having to shut them twice after not pushing them hard enough the first time.