| canuck901 |
I have a chance to get a great deal on a 2002 MDX.
It's black on black and loaded. It has 39,000 KM or 23,400 miles
I can get it for $41,000 cdn or 29,800 us
a new MDX is 50,750 CDN or 36,510 US
What do you guys think? It is in excellent condition.
Doesn't have Navi system which isn't available in Canada. But otherwise is loaded.
IS the 7yr 160,000 km worth it?
all advice appreciated!!
thanks:D |
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| JerryG |
My take would be, only *you* can answer which is the best car for you. The figures you cite (roughly 20% off for one year depreciation) do make the used one sound like a good deal. Conventional wisdom would concur that the "first" buyer takes the biggest hit on depreciation. The one-year mileage would suggest that they are highway miles (good), and at 23K it's just broken in. Assuming that you do your homework on the specific vehicle (run the VIN through carfax or somesuch to verify no previous frontal crashes or other nastiness), from a purely financial (green eyeshade soulless accountant - no offense to anyone matching that description) perspective it sounds like the '02 makes sense.
That said, how much are the following worth to you, personally: 20 extra horses, the new car smell, having your choice of color and configuration, knowing that nobody else's hind quarters have ever besmirched your throne, the various incremental year-over-year enhancements that are documented elsewhere in this forum, having 100% pristine interior and exterior surfaces (though the difference here may be truly minimal if the '02 is as cherry as you describe)... how you personally value the intangibles will, in the end, make the decision for you, IMHO.
Either way, you win! |
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| JeffK |
IMHO, this is a terrible deal: Normal driving is 12,000 miles per year. With 24,000 miles, 50% of the Warranty has been used.
23,000 miles is a heap of mileage for one year driving.
No matter who makes a car, each mile takes a toll on suspension, tires, transmission, brakes, etc. It is more than "nearly broken in"
20% depreciation for the first year is normal - but that is assuming normal mileage - 12,000 miles.
I would expect more with this high mileage. |
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| ImOnlyTen |
| 39K! Thats alot! We have only 21K on our Passat (2001) and that includes several long-distance to Montreal, Halifax, Churchill, Vancouver, Los Angeles, New York, Mexico City, etc. |
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| hockeyplayer |
| normal milage 12000.....oh man, I am way "ab"normal:) |
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| canuck901 |
Acutally 23,000 miles is about average, the vehicle is almost 2 years old. THe 04's will be out in 3 months.
I think it's a pretty good deal on an 02.
It's basically 10,000 cdn or 7,000 US cheaper then a new 03. |
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| JeffK |
IMHO, you cannot have it both ways:
If the car is 2 years old, then 20% depreciation is way too low. New 2003 are going for $1500/2000 off of MSRP. This is $34,000.
Two year old car should be at least 30% off of list.
If the car is one year old, then 23,400 miles is much too high. |
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| canuck901 |
the black book wholesale price is 39,000-40686 CDN which is for this type of vehicle and mileage. roughty 29,000 US
black book retail is 43,000-43,900 CDN or 31,500 US
so I'm just saying it's an excellent deal for an 02.
I can't believe that 03 MDX's are 40,000 US, that's insane as you can get them here for 50,750 CDN MSRP. plus tax. which is $36,510 US |
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| JeffK |
The base MDX is US $35,700 + $500 delivery = $36,200.
Dealers are presently giving $1500/2000 off of list.
This is for a BRAND NEW MDX complete with 4 YEAR 50,000 mile warranty.
So for a two year old car you are saving $4,000.
To your cost of $29,300 add in the cost of an extended warranty for an additional 23,000 miles and I suspect you savings will dwindle to less than $3,000.
IMHO, I would be willing to pay an extra $3,000 for a Brand new MDX vs. a two year old one.
I am suggesting that the savings on a two year old MDX should be much more than $4,000 vs. a Brand new one. |
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| DEZRVIT |
| I would go with the '03, simply because that seems like alot of miles, and it would make me wonder how it might have been driven. Did you get to see the maintenance list for the '02? were all the scheduled maintenance stops accomplished? and what sort of other work was done? Also you didn't mention any warranty, if you want to purchase a warranty, add about $1500.00 min. to the price. |
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| ndahbar |
| Get 2003. Much improved, worth your money. |
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| canuck901 |
I drove the 02 and 03 and really did not find that much difference.
I can also purchase the 7yr 160,000 extensive warranty for $1200 from acura, which i will. I think it's a really good deal for the O2
29700 US...it has the computer screen.
What is the navi? I don' t think we can get that option in Canada.
black with black leather interior.
:4: |
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| shootist |
quote:
Originally posted by canuck901
I drove the 02 and 03 and really did not find that much difference.
:4:
The engine, suspension, body structure, transmission, and electronic traction control are significantly improved on the '03. Engine has 20 more horsies, rear hatch opening is 35% stiffer, tranny is new! and improved!, and electronic traction control now has VSA to lessen sideways skidding and rollover tendencies.
And, of course, don't forget the neat '03 Acura door sill plates, the leather center armrest, and the standard mudflaps. |
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| vicpai |
quote:
Originally posted by canuck901
I drove the 02 and 03 and really did not find that much difference.
I can also purchase the 7yr 160,000 extensive warranty for $1200 from acura, which i will. I think it's a really good deal for the O2
29700 US...it has the computer screen.
What is the navi? I don' t think we can get that option in Canada.
black with black leather interior.
:4:
.....in the '02 and '03 are not something you could "feel" , yet they are very significant. Take, for example, the VEHICLE STABILITY ASSIST (VSA) that was added for '03 (which could significantly reduce the chances of a possible rollover during an emergency/aggressive manuver). While the '03 does have 20 more horse-power, the difference is probably very subtle, because the TORQUE is just marginally improved, and, if I'm not mistaken comes at a higher RPM. I was going to say, above all else, the NEW & IMPROVED Navi is worth it's weight in gold, but that does not apply to you guys in Canada. Another thing to seriously condiser is the fact that Honda has put a totally new 5-speed transmission in the '03 (Honda says it's to match the extra 20hp, but my personal opinion is that it was done for a very different reason :rolleyes: - does tranny failures ring a bell?? )
So what's the bottom line? .......If it were me, I'd still get the '03, or even '04, unless there was a VERY SUBSTANTIAL difference! |
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| theXman |
canuck901
sounds like you've made your choice. Good luck!
But I would go with 03 like most of the people here. Besides, I love the new car smell. |
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| canuck901 |
I am in no big rush, so if they take my deal, I will buy it.
Also the nissan Murano, volvo XC90 and the Pilot, are giving the mdx some competiton. That's why there's the price drop.
If I can't get what I want, I will wait another year.
my car right now is paid off so I can save a bit and hopefully something else will come by.
:2: |
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| Bigrob |
Review the differences very carefully between the 02 and 03. See how important they are to you.
I think the way to look at it is what fits your budget. If the budget is only 30K US and you're deciding between a new Pilot or a 2002 MDX... hmm, wait a minute, they're pretty similar other than styling. The 03 MDX does have some subtle, yet significant, enhancement that distinguish it. (VSA, horsepower, tranny, etc.)
Not that buying the 02 would be a mistake. From a financial point of view, someone else has absorbed a fair amount of depreciation. But it probably is good to start to think of an 02 with high miles as a 2-year-old car. It may very well be. Check the VIN number and see if it was an early build in model year 2002, meaning it could have been driven since September of 2001.
If you want to go used to save money, then you should also check out Certified Pre-Owned CPO models. That way you get the warranty and wear and tear items will have been replaced if worn. It also confirms a clean vehicle history. |
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| Blackura |
I was gonna buy the Honda Pilot for about 10 large less than the 03 MDX cost me, but the lack of stablily control made my decision for me.
I didn't get a chance to drive an earlier year MDX without the stability so I can't say how it handles in "emergency maneuvers." You might want to re-test the older model and try a slight panic "adjustment" so see how comfortable you are with it. If you're happy with it, save the bucks and get the used one. |
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| canuck901 |
The warranty started March 29, 2002. So I would assume it's not that old of a build.
At first they wanted $43,000 cdn for it, and they have now come down a bit, unfortunately we are $700 apart right now. They wanted 41,700 for it and I offered $41,000.
IF they do call me back I would buy the extended warranty.
I'll guess I will see what happens.
I might just wait until next year, I think there's a lot of these MDX's in pristine condition that should be lease returns soon!!
:2: |
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