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Old 12-01-2005, 09:59 AM   #1
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While I had my steering intermediate shaft replaced, my dealer had just unloaded 2 brand new Solstices from the truck. I told my wife about it and she said, "Can we trade the Bonneville in on one?" I said "No, we'll take a beating on the trade in!"

So, just out of curiosity, I checked Kelly Blue books trade in and retail values. For a car like my GXP with 4500 miles and every option, the trade in was $19k! The retail was $27k. I knew that American cars don't hold their resale values that well, but this is rediculous. In 4 months, our car has lost almost $6k retail, and the trade in is $13k below the employee price I got when I bought it. I believe in buying American when I can, but we are paying a price for it. It'* really sad.
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Old 12-01-2005, 10:08 AM   #2
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I know how you feel. :( the value of my car has even dropped $5,000 in ONE year since I bought it.. Funny how a $36,000 car only is worth $10,000 just 4 years later.
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Old 12-02-2005, 07:48 AM   #3
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That does suck! That'* why I never by new. I let the first owner take the beating on depreciation.
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Old 12-02-2005, 01:37 PM   #4
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My friend got a 05 C-Class Benz about 8 months ago... sticker was a little over $40K....he is looking to trade.....its only worth $24K right now?!?!?!?!?!?!?!?!?....and that is BENZ in less than a year!!!!!!!!

so dont take it too hard....
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Old 12-02-2005, 01:40 PM   #5
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... the woes of car ownership, i currently owe 4k more than the car lists for private sale
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Old 12-02-2005, 08:28 PM   #6
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BUY USED

not even gonna mention what i paid for mine in this thread
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Old 12-02-2005, 08:52 PM   #7
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Quote:
Originally Posted by harofreak00
BUY USED

not even gonna mention what i paid for mine in this thread
.... about half what i paid for mine................... bastard
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Old 12-02-2005, 10:34 PM   #8
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Quote:
Originally Posted by Custom88
Funny how a $36,000 car only is worth $10,000 just 4 years later.
Yeah kinda sucks... except when you take advantage of that, like me. I don't think I'll ever be able to bring myself to buy a brand new car. Wait a few years and look for low mileage, and you get the best of both worlds.

Along the topic of American cars (esp. GM) however, I think my days are numbered. I'm looking more and more at going "foreign" for my next ride... the new Maximas are pretty sweet IMO, although it'll be hard to give up a V-8. Time will tell.
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Old 12-05-2005, 06:44 PM   #9
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Here is my twist on things. I try to by a relatively new car with high mileage. For example, a car that is only two years old but has 45,000 to 55,000 miles on it. My theory is this: The only way a car that is two years old could have that many miles on it is if the miles are mostly highway miles. Tracking down the previous owner and asking a few question can assist in determining the kind of miles. I bought my 02 ssei with about 57,000 mi. on it in ealy 04. I did the same with my 92 se in 1994. Bought it with 55,000 miles on it. I still own it. I bought both from dealerships well below 50% of sticker price, particularly the 92. My friends who think I'm crazy... I tell them..." I'd rather drive the last 100,000 miles of a car versus the first 100,000 miles". It'* a bit of an exageration but, I make my point.

The flip side is I have experienced much depreciation in a little over a year and a half. If I remember correctly, the kelly blue book suggested retail when I bought the 2002 ssei in April of 2004 was in and around 19-20 grand. I just checked it today and it'* now $14,870.
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Old 12-10-2005, 04:29 AM   #10
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LOL! Yep, I am also done buying new. What a rackey. in 2-4 years the car is still in awesome shape and it'* 25-50% less than new. I was looking at a 2006 Charger SXT with all the fixins for $35L+ CAD$. At the end of the 4 year lease the buyout was only $13900. That did it for me with new cars. Never again. IN 4 years that car will still be great and will have saved about $27,000+ after the taxes and interest on new is factored in. The novelty wears off far to fast to eat those kind of dollars. I would rather buy more toys or go on trips or pay down my mortage tan drive my dollars away. Been there done that and don't regret it with my truck but never again.

Quote:
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I know how you feel. :( the value of my car has even dropped $5,000 in ONE year since I bought it.. Funny how a $36,000 car only is worth $10,000 just 4 years later.
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