Kirk

OK, here's the deal:
I'm selling my 94 Probe GT. I'm planning on replacing it with a 02.5 P5, due to the current 0% event. I finally found a Black Mica with leather, optioned close to how I want it, with the stuff it lacks being simple dealer installed accessories that I can purchase later. No biggie.
Now, after hunting online all day, I took a gander at the 03 P5. I see it's available in Laser Blue, which is making me rethink my choice of Black Mica. Then, I took a look at the pricing on the 03 P5, and my jaw dropped...

• Base price of the 02 (with dest.) is $16975. Base of the 03 (with dest.) is $17055. OK, close enough.
• Leather remains the same at $490. Cool.
• Polished wheels are still $500. Fine.
• Moonroof on the 03 only comes in a package with the 6CD changer. My first reaction was one of disgust, as I'd dealt with Mazda's stupid ordering constraints before when ordering my 02 Miata. Upon closer inspection, I was in awe... the price of a moonroof on the 02 is $700. 6CD changer is $500. The price of the moonroof/6CD pkg on the 03 is $690. Wow.
• ABS and side airbags are $800 on the 02. ABS and side airbags are $490 on the 03. Wow.

So, with a savings of $310 on the ABS, $10 on the moonroof, and getting a $500 CD changer for free, I'm starting to wonder why I'm not just waiting for the 03s, and possibly the Laser Blue...

Fulminatus

If you're probe is running fine for you now, I'd wait =).

But that's IMBO (in my biased opinion).

nramsey

I'd wait as well, if you think you might sell the car in the next couple years. Reason being is that the 02 will be almost a whole year older and thus will be worth less when you go to sell it. But, if you don't care about resale value (for a while anyway) I'd go ahead and buy the 02.5 you found equipped how you want. Rather than waiting for the 03 models to show up and having to go through finding a car you want again.

JMHO anywho

arl240

Go 03 if it is cheaper. It's a cool color and will have better resale.

Kirk

Thanks for the replies, but I'm more or less wondering aloud rather than asking what to do.
The Probe is a done deal. I have 4 cars; this is one that just sits in the garage. In fact, I haven't driven it in 8mos; my time is spent with the Miatas. I would, however, get more use out of the P5, seeing as how it's much more of a commuter car than the Probe. Even if I wait, the PGT is still leaving.
I also don't care about resell value. I buy the car for me, and for what I like. I never understood why people would buy one car over another simply because it will be "worth more" when they turn around to resell it. I don't plan on resell; I plan on enjoyment.
As for finding an 03 as opposed to the 02, that's cake. I can order an 03 how I want it; with the 02, I'm currently frantically searching for what I want, and most of what's left is automatic.

I was more or less just pointing out the pricing difference. I'm going to see if I can get dealer confirmation before I make my decision; I've got a funny feeling the price of the ABS/airbags is misquoted, and is accidentally the price of the leather. It's an eerie coincidence that they're both the same.
One of the dealers I looked at online has 03 P5s listed as being in stock; are they out yet?

Leigh13

Kirk,

Thanks for sharing the details on the 2003 pricing--the lower cost on the option packages is definitely a big incentive to wait. However, consider that the 0% financing may not be available for the new models, so make sure you factor that into your decision.

I picked up my P5 a week ago today for only $500 down and my first payment isn't until February 11, 2003. Can't beat that with a stick!

David

o% financing might save you more $$

dficken

With the savings that you listed... it calculated out to ~ $820 bucks.

BUT... you will not be able to get special financing on the '03's (at least not right away).

SO considering that.... the current loan interest rate in PA (i believe that is where you are from) is about 5.49%.

Lets say you go for 60 months for $18000 with nothing down.

Your total payments after 5 yrs w/ 0% is of course $18000. But with the 5.49% the total is $20,624.27.

That is $2624.27 more!!!

Now if you subtract $820, yoru still paying $1804.27 more.

So here is my advice. If the color is not that important and you plan on keeping the car for at least 5 years, go for the 02. The resale value is almost the same for a 5 yr old car and a 6 yr old car (basically because you would have 15k less miles on the car that is 1 yr older). You will end out ahead in the long run.

But, if you gotta have that new Blue or you will sell it within 5 yrs, i would wait for the 03.

Hell, if I was able to get a low rate for the WRX i wanted, I would be driving one right now. But unfortunately with no special financing and the 5-6 grand extra that the WRX costs, i went for the p5 instead. It would have been a $10000 difference after 5 yrs.
I can do a lot to my p5 with that kinda cash and still have $$$ left over.

Good luck!
Dayill.

Kirk

Thanks guys (and gals )!
Hm...looks like the savings in the accessories (I didn't really want the 6CD player anyway; rather put my own system in) doesn't overcome the current 0% savings. At least at 5.9%. Who knows when special financing will be again.
I'm not in a hurry to get this, so I didn't want to end up rushing myself. Looks like now is the best time to buy for me, though.

I'm surprised that insurance isn't cheaper on these things. It's actually more than my Probe, which is pricey. All told, I'll be at about $2500/yr for the P5 and the two Miatas. Not bad, I guess, but not great, either. That's full coverage, $100 deductibles.

Did I mention I qualify for S-plan?
Hm...time to talk to the dealer again...

rick77f

Here in California you can get 0% OR a $1500 rebate. I could care less about the 0%. I am approved for 4.9% from my credit union. The rebate is a greater savings in the long run for me.