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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.