SideOfBacon

I bought my 8 exactly one year ago (2004, has 30,000 miles, MT). I paid 18,900 + extended warranty for it when I got it. I see now they are going for around ~12k out the door. That is a depreciation of over 7k in just 1 years time. Did I get ripped off at the time of purchase or have they really depreciated that much? Not looking to sell/get rid of mine, was just baffled when looking at the current price listings for the 8. Thought I did plenty of pre-purchase research but maybe not? As bad as it sounds to say, am just hoping it really did just depreciate that quick.

tajabaho1

I saw an 04 MT rx8 4 sale here for 10k it had 60k mile...........sucks

SideOfBacon

noted that mine has been tinted and zeibart body care spray (adding a 500 value) and half that mileage.

tajabaho1

yours should be at about 14k, not 12..........

rglbegl

Well, Mine was $19,999 brand new in '06

rglbegl

Tint takes value away to a dealer, they have to remove it, and that costs money

And the body sprays, they are a good trick to get more $ out of you . . .again . . no resale value there.

Mods depreciate the car to a dealer, but may increase value to an individual.

CosmosMpower

A reasonable mileage 04 should still fetch at least 14K if it's in good shape. I made out like a bandit on mine. Bought it new April 06, it was a 05 leftover Sport trim with appearance package/accents. Sticker was right at 30K, I bought it for 22 out the door (about 20,700 purchase price). I sold it for 18K last week, at about a 13% depreciation loss over a year and a half and 18,000 miles. It was mint condition, very well maintained with all records/tsb/warranty items addressed.

SideOfBacon

sounds like i should have just gone brand new for another 2k...

SideOfBacon

nice outcome on that sale

Raptor75

Consumer report rates the RX-8 above average for depreciation.

rglbegl

Mine is worth $21,790 according to KBB retail ( what a bank will loan against the car)

$16,925 as a trade in

and $19,307 private party.

not bad at all. that is, if you go by KBB

NaarLeven

yeah well go and try to sell. Bought mine for 20 a year ago and now I want to get out of it before it drops down the 16k range 05's are selling for.

Jethro Tull

iTrader: (6)

Don't feel too badly. I bought my '07 in March for 32k, and just last week saw another BN '07 at the dealer going for 22k, same trim package. 10k in 10 months. My car lost about $33 in value EVERY DAY. Hopefully that curve has flattened-out!

My only consolation is that the fun I had with the car in that time was well worth it, also I plan on keeping it for as long as I can keep it maintained and I'm physically able to drive it.

SideOfBacon

thats why im not toooooo concerned. Plan on having her until about her last day before getting something new. So she will be paid off and enjoy the car greatly so the price was worth it. just amazed at how much the price has dropped for them compared to just a year ago.

Jethro Tull

iTrader: (6)

I've had my Explorer for nearly 17 years. If I keep my 8 that long, I will have been enjoying retirement for several years!

FriscoE

I bought my 04 loaded GT with 39k only three months ago from a Mazda Dealership for $16,300 (they wanted $18,999). I was happy with this price, and would pay it again.

NomadicRiley

Many of these examples are cases where the original price paid for the vehicle was too high versus high depreciation. $18,900 for a used 04 w/ 30,000 miles is high when they were going new for about $21,000-$22,000.

Same with anyone that paid anything close to sticker on a new one (excluding when they first came out).

SideOfBacon

it had 18k miles when I bought it in jan 06. 1 previous owner in KY.

ZoomZoomH

iTrader: (1)

those really cheap '04's are probably base model automatics

value leaders you know

kersh4w

iTrader: (3)

i dont understand why people dont keep cars well into the 150k+ range.

arent cars supposed to be used?

if you want a decent return on your money, buy property, housing, or invest in a water utilties company.

cars are sinkholes for money. you have to put over $150-200 a month into it just to keep it running. (gas)

NomadicRiley

A quick search on ebay for sold 2004 RX-8's (excluding autos and damaged/salvaged) shows the following:

04 GT 40K miles 16,800

04 GT 33K miles 14,850

04 GT 30K miles 17,990

04 GT 39K miles 16,800

Based on that, I'd say an 04 non GT w/ 30K miles should be able to fetch ~14k-16K depending on condition and local market. 12K sounds low.

CosmosMpower

You didn't lose 10K in 10 months, you just didn't negotiate and paid full price. I only paid around 21 for my car that stickered for right at 30 new and lost $2,800 over the course of 16 months. I would consider my percentage of depreciation to be 13% not 38% from the new sticker price.

Jethro Tull

iTrader: (6)

The best they'd do is give me the Mazda incentive (a paltry $1000 at the time) because they had another buyer lined-up for that particular car- the guy and his wife were even hovering around it and sitting in it on the lot as I was doing the back-and-forth with the salesguy and his manager. She was obviously pissed that she apparently wasn't going to get "her car". I did try but after waiting all of last winter for the right color and options package, I grabbed it when it came in. In retrospect, the next new car I buy will definitely be at the end of the year, not the beginning.

I gave a huge down payment so I can always sell it for more than I owe; not that I ever would.

Revvittupp

Kbb isn't worhtthe paper it's printed on. When was the last time Mr Kelley bought a car... KBB is the absolute worst guide out there and does nothing to consumers but confuse them. Do not look at any of their numbers as being realistic. Depending on situation(KBB's model is horribly wrong for high mileage cars) usually KBB Fair trade in is a bit over wholesale value of a nice car. A retail(private party sale) number should be 10% over that, if sufficient work is done to make the car retail worthy.

an '06 base with reasonable miles(20k or less) is probably still a $15k+/- wholesale type of car,

delhi

I noticed in our neck of woods the "cheap" ones are usually automatics.