Looking At A Miata!

[Bobby G]

A buddy of mine is getting ready to sell their '99 Miata ragtop - - cherry condition, 88K miles, glossy black, custom rims, leather interior. Looking to get $7,000 for it. I am sooooo tempted, but I'm afraid that I might like it as much as my RSV and be totally conflicted on nice riding days! The maintenance and insurance cost would be a lot more, but it's a really pretty little car. A definite head turner.

 

What to do, what to do?????

 

[Freebird]

They are nice little cars. I've never owned one but use to rent them when I was in Northern California on business trips. One thing that I always remind people when they are looking at the 4 cylinders with near 100,000 miles though. It is going to be due a timing belt and tensioner in the very near future. Unless you do it yourself, be sure to figure about $1,000 - $1500 for that little maintenance item. Most are zero tolerance engines which means you will likely destroy the engine if the timing belt goes. That is an important maintenance item.

[Eddie]

A guy that works for me is looking hard for one of those. He wants to track it. They come with a price tag if you find a nice one.

[muaymendez1]

I looked at one for trade for my older camaro LS1.I was 375lbs at the time.What a joke.The guy and his fiance had a hell of a time.

I went home in disgust and my great wife made me understand that a summer car would take awsy from my true passion and that I need sometging comfortable for winter drives to work.

I got a VW jetta. I think I want my camaro back

[Venturous Randy]

I was looking at one for Linda a year or so ago and was amazed at the difference between the Kelly Blue Book value and what people wanted. Given this, you may need a lot of cash instead of financing it. KBB value in excellent condition, that's the top 3%, is only about $5,200 with 88k miles.

RandyA

[dynodon]

Bobby, I have the answers to most of your questions. First, the engine on the miata is a cleaance engine, NO danger of bent valves if the belt goes. A friend of mine has had a few, and races them a lot. He says the belt should be changed around 105k, but they usually go a lot longer than that if you aren't racing them. Also, they are pretty easy to change, but if you pay, it should only be a few hundred, and replace the water pump and belt tensioner at the same time to save future trouble.

 

They hold their value pretty well, but also there are a LOT of them out there, so you can find bargains. Check the price guides on-line and look the car over, and be realistic. These are really fun and dependable little cars. Mazda did it right, and even older ones still look current and modern. Parts are easy to get and not expensive.

 

Eddie, there are lots of ready to race Miata's out there, check with SCCA, local tracks, Hemmings, and you are bound to find some. Right now is a good time to buy, people are dumping their last years cars to get something new for the coming season. Miata's make great and cheap race cars, although NO real race car is truly cheap, but for a racer, they are at the very low end, and lots of fun. Always a bunch of cars in the class though, so you have competition, and as usual, to win, you have to spend more money. But just to compete and enjoy, it doesn't take a lot.

 

As for the price, Randy was pretty spot on, $5000 retail for a dealer is what Edmunds says. That is based on the 10th Anniversary edition with the 6 speed manual, the base car is a bit less with a 5-speed. An automatic would be a tiny bit more. Retail for private sale is closer to $4000 and a bit more for an outstanding condition. So $7,000 is a bit high, but if you print out all the various price guide prices, (Edmunds, NADA, Kelly) and negotiate a bit, but a really nice car with some accessories (assuming you like the wheels and such) then $5 or $6000 might not be out of line.

 

Good luck, if there is a four-wheeled motorcycle, the Miata is about it!

[Bobby G]

I really don't think he fully researched the true market value, so if I were to make him an offer, it would definitely be based on what I find in KBB and Edmunds, and I'm sure he'd work with me on that. And he did tell me that the timing belt and water pump have already been replaced, along with a fairly new exhaust and 3 month old Perelli tires. I already checked with my agent, and the ballpark for insurance isn't as bad as I thought it might be, either - less than $100/month.

 

We'll noodle on it for a few months and see if any mystery money appears in the bank. Like I said - - a sweet little ride.