Depreciation royally bites - GM Forum - Buick, Cadillac, Chev, Olds, GMC & Pontiac chat


Lounge For casual talk about things unrelated to General Motors. In other words, off-topic stuff. And anything else that does not fit Section Description.

Reply
 
 
 
Thread Tools Search this Thread
Old 09-17-2007, 09:03 AM   #1
Senior Member
True Car Nut
Thread Starter
 
Join Date: Aug 2004
Location: In your garage, swipin' da lug nutz
Posts: 3,067
Thanks: 0
Thanked 0 Times in 0 Posts
sandrock is on a distinguished road
Default Depreciation royally bites

Y'know, there is a reason why the smart people of the world say to never buy a vehicle new. For the longest time, I heeded that warning...partly because I was broke, but also because it just wasn't feasible for me to get a new one. That all changed just over a year ago when I purchased my first (and only) new car...my '06 Malibu Maxx LTZ.

I picked the Maxx because I loved my previous Maxx (traded in due to high miles from commuting). It was more than spacious enough, all the seats but the drivers fold flat for hauling cargo, handled way better, was much safer (8 airbags total I think), and had all the options I was looking for, except the front sunroof and XM. One would think with all the features it has, plus its crash rating, it would hold up well in resale value.

Oh, how wrong I was.

Purchase price was around 26k. Keep in mind, everyone, that as far as trim packages are concerned, the LTZ is above even the SS. Today, even with the low miles it has, retails at a blistering 14k, with trade being just a little less. Meaning I will NEVER break even with this car, and if I do happen to break even, it will probably be in the last year of making payments.

I feel so sick.
sandrock is offline   Reply With Quote
Old 09-17-2007, 09:18 AM   #2
DINOSAURUS BOOSTUS

Expert Gearhead
 
BillBoost37's Avatar
 
Join Date: Mar 2005
Location: Enfield, CT
Posts: 41,391
Thanks: 0
Thanked 0 Times in 0 Posts
BillBoost37 is a glorious beacon of lightBillBoost37 is a glorious beacon of lightBillBoost37 is a glorious beacon of lightBillBoost37 is a glorious beacon of lightBillBoost37 is a glorious beacon of lightBillBoost37 is a glorious beacon of light
Default

You'll more than break even if you drive it for 10+ years and hundreds of thousands of miles.
BillBoost37 is offline   Reply With Quote
Old 09-17-2007, 09:29 AM   #3
Senior Member
True Car Nut
Thread Starter
 
Join Date: Aug 2004
Location: In your garage, swipin' da lug nutz
Posts: 3,067
Thanks: 0
Thanked 0 Times in 0 Posts
sandrock is on a distinguished road
Default

Quote:
Originally Posted by BillBoost37
You'll more than break even if you drive it for 10+ years and hundreds of thousands of miles.
Hmmm.....that depends. IF I keep the 3500 that is highly torque managed, along with the 4t-45e, it *might* last that long.

But IF I go through with my idea of putting in the 5300 w/the 4t-65e...it could last longer
sandrock is offline   Reply With Quote
Old 09-17-2007, 09:32 AM   #4
Senior Member
Posts like a Northstar
 
Join Date: Aug 2007
Location: Ladysmith B.C. Canada
Posts: 620
Thanks: 0
Thanked 0 Times in 0 Posts
JMH1950 is on a distinguished road
Default

That is the reason I always buy used vehicles for very few $$$. Let someone else pay for the depreciation.

Anyone can pick up a grreat used car for less money than the first months depreciation on a new car.
JMH1950 is offline   Reply With Quote
Old 09-17-2007, 10:54 AM   #5
Junior Member
 
Join Date: Jun 2002
Posts: 0
Thanks: 0
Thanked 0 Times in 0 Posts
2000SilverBullet is on a distinguished road
Default

The only reason to buy a new car is to keep it a long long time.

I bought all my vehicles brand new. They are 29, 19 and 8 years old now.

Yes it does make me sick to see how much my $45K Bonne is worth now. That'* why I'm not selling it.............yet.
2000SilverBullet is offline   Reply With Quote
Old 09-17-2007, 11:36 AM   #6
Junior Member
 
Join Date: Aug 2002
Posts: 0
Thanks: 0
Thanked 0 Times in 0 Posts
Custom88 is on a distinguished road
Default

Quote:
Originally Posted by sandrock
Quote:
Originally Posted by BillBoost37
You'll more than break even if you drive it for 10+ years and hundreds of thousands of miles.
Hmmm.....that depends. IF I keep the 3500 that is highly torque managed, along with the 4t-45e, it *might* last that long.

But IF I go through with my idea of putting in the 5300 w/the 4t-65e...it could last longer
that'* why they're torque managed.... to last longer. It'* just there to help reliability.
Custom88 is offline   Reply With Quote
Old 09-17-2007, 12:34 PM   #7
Senior Member
True Car Nut
Thread Starter
 
Join Date: Aug 2004
Location: In your garage, swipin' da lug nutz
Posts: 3,067
Thanks: 0
Thanked 0 Times in 0 Posts
sandrock is on a distinguished road
Default

Tossing the 5300 in there is an idea I have had since day 1. It shouldn't be too hard to bolt the combo up, provided there is enough room in the bay. Though I imagine it will throw my handling off a bit

That 3500 that is in there right now is severely hampered. Even with the TC off, TM is monstrous. Putting the -45e behind that motor was a BIG mistake in my eyes.

But I think the biggest reason for the huge drop in value lies with the release of an all-new Malibu for '08. Compared to the last generation (pre-2004), this generation had a very short run. Plus with this new generation, the Maxx has been eliminated. I am guessing it was taking away from the HHR sales, but regardless, the Maxx in my eyes is a real good car for us middle-income folks.
sandrock is offline   Reply With Quote
Old 09-17-2007, 12:42 PM   #8
Senior Member
Posts like a Corvette
 
Join Date: Mar 2007
Location: Machesney Park, Illinois Ride:_1993_Bonneville_SSEi got boost?
Posts: 1,388
Thanks: 0
Thanked 0 Times in 0 Posts
xDRx is on a distinguished road
Default

Thats why I love my Bonneville. It'* Worthless! (money wise)
xDRx is offline   Reply With Quote
Old 09-17-2007, 12:42 PM   #9
Junior Member
 
Join Date: Aug 2005
Posts: 0
Thanks: 0
Thanked 0 Times in 0 Posts
wjcollier07 is on a distinguished road
Default

Yeah, my whole view on it is to buy a car that still has its factory warranty, but someone else has footed the bill for the depreciation.I mean, just look at the GXPs, 2-3 years ago, you paid what, 35k for a new one? Now you can pick one up for $18-23k? Nice IMO. Especially if it still has its warranty, and you can get an extended one.
wjcollier07 is offline   Reply With Quote
Old 09-17-2007, 01:01 PM   #10
Senior Member
True Car Nut
 
Join Date: Jan 2005
Posts: 3,295
Thanks: 0
Thanked 0 Times in 0 Posts
MyLittleBlackBird is on a distinguished road
Default

I'll take my high mileage $2000.00 car over a new one. Reasoning? Tried and True....
MyLittleBlackBird is offline   Reply With Quote
 
 
Reply

Related Topics
Thread Thread Starter Forum Replies Last Post
I am royally pissed now... Boreas Lounge 17 03-27-2006 07:44 PM
Another window motor bites the dust! Xac Xado 2000-2005 23 09-01-2005 12:41 AM
Another Plenum Bites the dust - opinions, ideas, anyone? viton1 1992-1999 9 08-18-2004 09:20 AM
Another one bites the dust (this ones green -not white) OLBlueEyesBonne Lounge 7 10-06-2003 08:30 AM


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -4. The time now is 02:51 AM.


We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.