Mazda wants my 2020. Should I trade?

[cryix47]

So as the title states mazda wants my under a year old 2020 for 1000 credit towards a new 2021. I want a CX5 but am concerned about negative equity.  I have heard dealerships are in need of used cars. Should I trade? I really need the space. 

[cv91915]

Dealerships call and send postcards and letters and email and text messages and faxes and blow up your CB radio with nonsense about wanting your trade, no matter what the market is doing.

 

Unless you have no idea what you're doing, you'll get a premium if you trade or sell your current vehicle.

 

And then when you buy a more expensive vehicle you'll pay an even higher premium.

 

5 hours ago, cryix47 said:

Should I trade? I really need the space. 

 

Has your employer recently made it a condition of employment to use your personal vehicle to drive coffins around town 14 hours a day?

 

If no, define "need."  

 

This is probably the worst time in history to buy a new car.

 

 

Edited September 13 by cv91915

[MarvBear]

Effective way to burn money.

[hegemony]

I got a call last week from local BMW sales laady asking if I want to sell a car I haven't owned for 9 years.

 

it is called lead generation... they want to get warm bodies to the show floor.

[centex]

Concur with the others...go in for an oil change and get a call a week later about the dealership wanting my car...never mind that it is 30 years old. 

 

The new vehicles on lots very rarely are going to be what you actually want and ordering won't be an option given the chip nonsense.  I know people with orders for some makes that won't ever see their vehicle because it was being discontinued to mollify the eco-demographic.  Production lines halted due to the chip issue. 

 

The only way making a trade makes sense is if it financially behooved you to do so.  A $1K trade allowance doesn't even pass the test on whether it is worth getting out of bed. The big thing locally is dealers offering to give MSRP credit towards a new purchase, provided the trade was 2017 or newer and was not a 'high line.' In other words, they were not going to give me $93K for my F-Type towards their $30K POS and a check for the difference. 

[CTSoxFan]

Agree with the others, nothing more than a lead generation technique to sell metal.  Unless you put down a significant down payment you are likely underwater on the 2020, and with new car prices through the roof right now it sounds like a recipe for disaster.

 

That said, in certain circumstances it may make sense as the used car market is very strong right now and dealers are paying a lot for cars.  For example, we were able to unload our car about to come off lease in January and pocket $3,000 in profit to put towards our new vehicle (which was done in separate transactions).