Mazda 5

[albertGQ]

So my wife and I are expecting our second son in February. That means its time to get rid of my Acure RSX (anyone want to buy it?) and get something more practical

We looked at the Hyundai Tuscon, Chevy Equinox, and Mazda 5. Out of those three, we both loved the Mazda 5 the best. It was also the best value. There was a Mazda 5 on liquidation so we saved a bit more cash that way.

We can get 0% financing for 72 months or 0.9% financing (with an additional $500 rebate) for 84 months. We were thinking of cashing out some investments and paying cash for it. If we did that, we could knock off $3k from the sticker price.

It works out to about $150 bi-weekly on 84 month financing. This is very affordable for us and this way, we don't have to cash out any investments.

Does anyone on CP own a Mazda 5? Anything we should know about this vehicle good or bad?

CP has always been a wealth of knowledge and I'm pretty car illiterate so any tidbits I should know is greatly appreciated

TIA!

[Table 5]

I don't own one, but I hear a lot of good things about the 5. It's practical, yet compact enough not to drive like a dinosaur...plus I think it looks pretty good for a van.

Btw, It's one of the few, if not only, vans you can get with a manual transmission (at least down here in the US)....that in itself tells you that the manufactured at least gave driver enjoyment a second though. Mazda's are usually pretty fun cars to drive, and hey this one seems pretty pratical.

Btw, why no thought to wagons?

[WilsonFourTwo]

My friend and his wife bought one about 2 years ago. We looked at a lot of vehicles (and I'm a research junkie, and a psuedo-car guy, thus my involvement) including the Tucson, Rouge and Murano. (They had previously owned an Equinox....too big, too costly)

The Mazda 5 has been nothing short of fantastic. It's held up very well with only scheduled maintenance. No rattles or squeaks, and plenty of room. As a passenger (sitting behind a 6ft+ driver) I have never had space issues, and I know their daughter has no complaints........the third row is usually reserved for jackets and misc stuff.

As for actually driving the car for.....I've only got about ~1000kms over the past couple of years, but I really like it when I get the chance. There's a much sportier feel than you would expect.....very similar to the Mazda 3 sedan. Sight is no problem.....there are no major obstructions to a 360° view.

Honestly - for $20-$25,000, its a helluva solid family vehicle, and I know for a fact that they're as happy with the car today as when they brought it home.

(And gratz on the second! All the best mate!)

[Bill Bumface]

+1 for a wagon.

Instead of getting a van they try make drive like a car, get a car that, well, drives like a car.

[Finny61]

Hmmm I would have never guessed Fotze drove a Mazda5.

Personally I like the Subaru's as an alternative however the financing options are not competitive to the other carmakers last I checked.

[iamajai]

We've had our Mazda5 since 2006 and put around 49k on it to date. It's been a great vehicle for us and our two kids. It's been great for carseats and loading babies, but it really ends up being a 4 seater if you have a big stroller or a dualie stroller like us. 6-seater mode is used on occasion, but you really have to pack light and watch what you buy.

Not too many issues with the vehicle reliability wise. We did have the shocks changed under warranty as they would "click" everytime we went over the bump onto our driveway. Nice driving van, lots of nice features, and there's really no competition for it in the market. The Odyssey/Sienna are huge in comparison and I wouldn't be caught dead driving a Caravan.

[billybob123]

Originally Posted by hulkrogan

Instead of getting a van they try make drive like a car, get a car that, well, drives like a car.

Problem with wagons (and SUVs and anything without a sliding door) is that loading kids in is painful in parking lots with narrow spots... I drive a sedan with big back doors and find it really difficult sometimes.

[DemolitionCat]

That thing gives me nightmares, so does an 84 month loan on a car, but anyway wasn't there some recall on the steering?

[Nuje]

Well, having owned a 3 for 3 years (and the 5 being essentially a 3 with a van body, with an even plastickier interior to save some cash), I'd say it's a pretty good choice. Even though it's plasticky, they tend to assemble their cars properly, so you shouldn't get much rattle (and I've ridden in one with a few Kms on it, no rattling to report).

If your choices were ultimately narrowed down to the 5, the equinox and the tuscon, the 5 is definitely the best choice, especially if you enjoy driving a bit. Yeah, the engine isn't the peppiest thing in the world, but it's enough....whereas I'd say I grew up with a brother, living with both parents and grandmother, and we fit all 5 of us into a Nissan Micra just fine, so you don't REALLY need more than a good mid-size sedan.

[pylon]

New Golf VI TDI wagon. 60 MPG, incredibly fun to drive, no soccer mom stigma attached and built like a tank. Crazy high resale too. PM me if you lyk dealz!!!!11!

[pylon]

Originally Posted by albertGQ

So my wife and I are expecting our second son in February. That means its time to get rid of my Acure RSX (anyone want to buy it?) and get something more practical

We looked at the Hyundai Tuscon, Chevy Equinox, and Mazda 5. Out of those three, we both loved the Mazda 5 the best. It was also the best value. There was a Mazda 5 on liquidation so we saved a bit more cash that way.

We can get 0% financing for 72 months or 0.9% financing (with an additional $500 rebate) for 84 months. We were thinking of cashing out some investments and paying cash for it. If we did that, we could knock off $3k from the sticker price.

It works out to about $150 bi-weekly on 84 month financing. This is very affordable for us and this way, we don't have to cash out any investments.

Does anyone on CP own a Mazda 5? Anything we should know about this vehicle good or bad?

CP has always been a wealth of knowledge and I'm pretty car illiterate so any tidbits I should know is greatly appreciated

TIA!

Okay, unbiased finance guy post here. Just using simple "give or take a few bucks" numbers here, but if the car is in the 25-40k range, the numbers will adjust pretty much parallel to each other.

I'll give you option C:

The real world borrowing rate for a fixed closed loan over 7 years on a car right now is about 5%. Assuming the car is around 30K with all taxes, the cash price with rebate will be $27000 of which you will pay around $4900 interest on if you use a conventional lender. So net time price will be around $31900. Tell the finance manager at the dealership you are at you would like the 4.99 rate that First Calgary and ATB are offering right now. Every major dealer in the city has it available. If that fails just talk to your own bank.

If you take the Mazda deal at 0.9% You are borrowing on $30,000 and will pay around 950 in interest. So net time price is $30950.

31900 - 30950 = $950

In that scenario take the higher interest loan imho, because you are really only talking and adjusted borrowing cost difference of only 1%. BUT.... You are starting at a much lower balance and odds are almost certain you will sell or trade the car in within 4-5 years, at which time you will likely have actually have a lower payout on the higher interest loan.

The only way I would guide a client into the 0.9 scenario, would be if you can say, without a doubt in your mind, you will take the loan to term.

Lastly.... the absolute WORST thing you can do is to cash in an appreciating asset (investment) on a depreciating commodity (car). If you saw the long term implication presented to you by a financial advisor or analyst, it would make you puke, what the lost gain on 30K today, would look like 25 years from now. In reality you are paying 4 grand in interest now to preserve what will likely be $120-150K 25 years from today.

I have had people across the desk from me in mid 6 figures that could truly pay for a 50 or 60k car on their debit card, and they will never do it. They always take a finance option simply for that fact.

[albertGQ]

Originally Posted by pylon

Okay, unbiased finance guy post here. Just using simple "give or take a few bucks" numbers here, but if the car is in the 25-40k range, the numbers will adjust pretty much parallel to each other.

I'll give you option C:

The real world borrowing rate for a fixed closed loan over 7 years on a car right now is about 5%. Assuming the car is around 30K with all taxes, the cash price with rebate will be $27000 of which you will pay around $4900 interest on if you use a conventional lender. So net time price will be around $31900. Tell the finance manager at the dealership you are at you would like the 4.99 rate that First Calgary and ATB are offering right now. Every major dealer in the city has it available. If that fails just talk to your own bank.

If you take the Mazda deal at 0.9% You are borrowing on $30,000 and will pay around 950 in interest. So net time price is $30950.

31900 - 30950 = $950

In that scenario take the higher interest loan imho, because you are really only talking and adjusted borrowing cost difference of only 1%. BUT.... You are starting at a much lower balance and odds are almost certain you will sell or trade the car in within 4-5 years, at which time you will likely have actually have a lower payout on the higher interest loan.

The only way I would guide a client into the 0.9 scenario, would be if you can say, without a doubt in your mind, you will take the loan to term.

Lastly.... the absolute WORST thing you can do is to cash in an appreciating asset (investment) on a depreciating commodity (car). If you saw the long term implication presented to you by a financial advisor or analyst, it would make you puke, what the lost gain on 30K today, would look like 25 years from now. In reality you are paying 4 grand in interest now to preserve what will likely be $120-150K 25 years from today.

I have had people across the desk from me in mid 6 figures that could truly pay for a 50 or 60k car on their debit card, and they will never do it. They always take a finance option simply for that fact.

Thanks Pylon. We are confident that we would take the loan to term because the next vehicle we buy, we would drive it to the ground

You really hammered home the opportunity cost of cashing out an investment.
We won’t be doing that at all

Thanks everyone! I think we’re going to get the Mazda 5 on the 84 month term 0.9% financing!

[You Need a Thneed]

No consideration of a Kia Rondo? Similar vehicle to a Mazda 5, with a little bit more room. We've been happy with our Rondo.