This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10 Used Cars To Consider Before Buying New

Stocks in this article: F GM HMC TM NSANY

9. Mazda Miata MX-5
Trim: Base two-door convertible
Original MSRP: $22.125
KBB private party value: $5,160
Retained value 23.3%

So begins the Japanese dominance of used car offerings.

Of the 30 reliable used vehicles on KBB's list, Mazda, Toyota, Subaru, Honda and Nissan made 21 of them.

Domestic, Korean and German manufacturers have since caught up, but the Japanese automakers were well ahead of the pack by the time the 2008 fuel crisis hit and everyone else began focusing on efficiency and durability. The Miata piled on by becoming the retiree's car of choice with a 167-horsepower, 2.0-liter, four-cylinder and five-speed manual transmission that gives the competing Porsche Boxter a good run for the money.

You don't get the pretty pony or the prestige when you pass up a Porsche Boxter for a Miata, but not doing so costs car buyers thousands for no real benefit. The two cars have similar acceleration (zero to 60 in 6.5 seconds for the Porsche, seven seconds for the Miata), similar ratings from  Consumer Reports (90 for Porsche and 89 for Mazda) and similar customer satisfaction.

Meanwhile, the Miata lacks the Porsche's slew of engine, cooling, electrical system, power equipment and significant brake problems that add up to a lot of future costs over the life of the car. The 16-inch alloy wheels, larger brakes and a child seat anchoring system Mazda put into the 2003 may not be as sweet as the available hardtop on the current model, but it's still a great convertible on the cheap.

3 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs