So much for resale of the Solstice

[MITCH]

Originally Posted by StevieG No, Mitch, I cannot answer that simple questions because I do not own a PT Cruiser, Miata or Stratus, but I do own a Solstice GXP. Since, I do not own those cars, haven't followed them in the new or used car arena, and I am not interested in those cars, I cannot offer an informed opinion of what their resale value is. Different with the Solstice, since I own one, since I like what I own, since I see them at auction more and more the last year, and since my getting an 08 or 09 model if I want one would depend on what my 07 was fetching at auction or private sale. So, I follow the numbers, Mitch. Like I have said, I respect your opinion on this---I just totally disagree with the quotes you make of how little your car has lost in value by your quoting of KBB or NADA values. That is it. Until you or I are ready to trade, or sell our Solstices, it really is a moot argument. It will be a good one for each of us on the day of sale or trade, won't it???

Ya I see your point, see you in 30 years.

Mitch

[Fformula88]

Originally Posted by MITCH Stevie, I'm just asking one simple question. Are the re-sale values of the PT Cruiser, Miata, Stratus, and mostly every other car on KBB and NADA inflated also, It sure looks like they have tanked pretty bad over the last 27 months? Are you saying they just haven't caught up with our beloved Solstice? I will never sell my Pristine "Christine" Maybe they are giving it more credit then it's due? I personally believe when warm weather hits Mooseport, it will be worth what is reflected by KBB and NADA at the time. Mitch

I cannot speak for them all. However, I know a bit about Crossfires. The used values for them are a LOT lower than original MSRP's, which gives the impression they have suffered from massive depreciation. However, I doubt may 06+ owners have actually had to eat that depreciation. The rebate on an 08 Crossfire was up to a staggering $8000 by the end of the model year from Chrysler, plus whatever the dealer would knock off down to invoice (or under). They were advertised new from dealers at $10,000+ off brand new. Yeah, you could get a brand new $30,000 Crossfire from under $20,000.

With that kind of discount, the actual depreciation that the owner faces is not nearly as bad.

A local dealer around here bought a bunch of remaining 07's from Chrysler and is offering them at better discounts. $12,000+ off MSRP.

Not saying there isn't depreciation, but it's probably less than it looks for the actual owner of the 06.

How the actual prices paid for used ones compares to KBB? No idea.

[Delta5]

Just to offer a bit of info into the discussion...

I'm probably buying a leftover brand new '07 GXP today. Sticker is $31,8xx. It's loaded: automatic, premium, monsoon, XM, spoiler, premium headliner, chromed rims, in yellow. Basically everything but On Star. With zero haggling, the dealer was asking a little over $30k, out-the-door (tax+title+etc). After 10 minutes of haggling, we were down to $28.5k, OTD. This is with the 0%/60 financing. I said that was in the ballpark but we'd need to think about it, and the final round of negotiating and probable purchasing will happen tonight. No special GM discounts otherwise, and I'm not putting any cash down at all (I'd rather leave it in the bank earning interest). This is in the middle of nowhere in downstate Illinois, on a snowy, 15-degree day.

I do still owe money on my trade but I am getting about $1k in equity from it (that is, $1k more than I owe). This value is a little bit better than KBB's 'Good' rating, and about $800 below Edmund's very optimistic figure, so I'm content with that because I do feel it's a fair price. I know it's all a numbers game so the details between trade-in and sticker don't matter much.

So I'm shooting for $27k - $27.5k tonight, OTD. That represents a 'real' sticker price of about $25k, when you take out the $1k in equity and the taxes (7%) +title fees. We'll see if they'll part with it for that, but I think that's pretty fair for a brand-new-but-1-year-old car. Or is that still too much?

[StevieG]

Originally Posted by Delta5 Just to offer a bit of info into the discussion... I'm probably buying a leftover brand new '07 GXP today. Sticker is $31,8xx. It's loaded: automatic, premium, monsoon, XM, spoiler, premium headliner, chromed rims, in yellow. Basically everything but On Star. With zero haggling, the dealer was asking a little over $30k, out-the-door (tax+title+etc). After 10 minutes of haggling, we were down to $28.5k, OTD. This is with the 0%/60 financing. I said that was in the ballpark but we'd need to think about it, and the final round of negotiating and probable purchasing will happen tonight. No special GM discounts otherwise, and I'm not putting any cash down at all (I'd rather leave it in the bank earning interest). This is in the middle of nowhere in downstate Illinois, on a snowy, 15-degree day. I do still owe money on my trade but I am getting about $1k in equity from it (that is, $1k more than I owe). This value is a little bit better than KBB's 'Good' rating, and about $800 below Edmund's very optimistic figure, so I'm content with that because I do feel it's a fair price. I know it's all a numbers game so the details between trade-in and sticker don't matter much. So I'm shooting for $27k - $27.5k tonight, OTD. That represents a 'real' sticker price of about $25k, when you take out the $1k in equity and the taxes (7%) +title fees. We'll see if they'll part with it for that, but I think that's pretty fair for a brand-new-but-1-year-old car. Or is that still too much?

If a BRAND NEW leftover 07 can be had at that price, what does that say about a used 06 NA Solstice or a used "excellent" condition 07 GXP. Let's all be realistic here----the market is doing exactly what it was supposed to do---demand has lessened, supply is ample. Now, anyone wanting to quote KBB at their trade in or at private sale should use it as a guideline only. Don't be crying in your tears regarding what you truly get...

[Critterman]

Out of curiosity caused by this thread I checked the local paper this weekend. the Washington post had 2 06's at different dealers listed at 21,5k and 22,6k. Remember that is asking price. I did find it interesting that one of the 06's was an auto

[rob the elder]

Econ 101, something is worth zero until you actually sell it. Everything else is pure speculation

If you buy a car as an investment - to make money - you need to give me a call. I have plenty you can invest in. Cars do not make money. They transform capital into nothing. Similar to a boat which is a hole in the water into which you pour money.

Personally I plan on being buried in my Sol so am saving on all the expenses of a casket, vault etc. What a deal!

As others have said, car prices are seasonal. People spend a lot going up to Christmas and then have a hang over till summer. When the drive by's are screaming "recession, recession, recession" people tend to quit spending even more than normal. We are in a post Christmas doldrums and some percentage of people are concerned so not spending which just makes things worse.

The auto market is cyclical like most things in life and when the cycle is down as it is now, prices fall naturally. Dont worry, they will be out there trying to inflate prices again all tooo soon.

Just enjoy the car and dont consider it an investment but the expense that it is. Cost reward is very positive for me.

[mena661]

Where are you guys getting your KBB figures from for the 07 GXP? When I visit the website, there are no 07 GXP figures.

[blk07GXP]

Since I just purchased an 07 GXP fully loaded for $400 under the GMS number and got zero percent interest you have to figure the resale will start to decline. Once the deals are issued on these cars that had no deals before you know resale will decline. You never purchase a car as an investment anyway so it just the way the business is.

[StevieG]

Originally Posted by Critterman Out of curiosity caused by this thread I checked the local paper this weekend. the Washington post had 2 06's at different dealers listed at 21,5k and 22,6k. Remember that is asking price. I did find it interesting that one of the 06's was an auto

06 Autos----I thought they only came in manuals for the 1st MY. Or maybe I am mistaken about that, maybe they came in autos late in the 1st MY. Not certain. But consider closely what you write above---all of us should consider that. You have $21.5K and $22.6K on 06 Sols, none of us know the actual options, mileage on condition. Assuming the dealer is gonna make some money on the re-sale of these used 1st MY Sols, doesn't that $21.5K and $22.6K really represent a whole lot less for your trade.

Or looked at differently, selling your used PRISTINE 06 at $231 less than what you paid in 06, why would any buyer be interested in that car when they can find USED ONES at dealers for a lot less and brand new 07s and 08s for even better value with more warranty, more features added, and less potential quality issues. Just for thought, really...

[StevieG]

Originally Posted by blk07GXP You never purchase a car as an investment anyway so it just the way the business is.

Some did...actually mention buying this model vehicle as an investment. Some mention "investment" in some of their posts back then. Sadly, you are correct, but some never will see it that way.

[MITCH]

Originally Posted by StevieG Some did...actually mention buying this model vehicle as an investment. Some mention "investment" in some of their posts back then. Sadly, you are correct, but some never will see it that way.

There is a difference between investment, and just plain great resale value.

We are in the "Top Ten" that's pretty amazing in itself.

Top 10 Cars with the Best Resale Value

[Critterman]

Originally Posted by StevieG 06 Autos----I thought they only came in manuals for the 1st MY. Or maybe I am mistaken about that, maybe they came in autos late in the 1st MY. Not certain. But consider closely what you write above---all of us should consider that. You have $21.5K and $22.6K on 06 Sols, none of us know the actual options, mileage on condition. Assuming the dealer is gonna make some money on the re-sale of these used 1st MY Sols, doesn't that $21.5K and $22.6K really represent a whole lot less for your trade. Or looked at differently, selling your used PRISTINE 06 at $231 less than what you paid in 06, why would any buyer be interested in that car when they can find USED ONES at dealers for a lot less and brand new 07s and 08s for even better value with more warranty, more features added, and less potential quality issues. Just for thought, really...

I believe you are correct sir, 06's where stick, and they didn't have much listed in the add, both where two liners.

[MITCH]

Originally Posted by Critterman I believe you are correct sir, 06's where stick, and they didn't have much listed in the add, both where two liners.

The later 06's did come with an Automatic, there is a dealer up here asking $22,900 for an Automatic with just under 4,000 miles on it.

Mitch

[red one]

No trade for me. When avery one is driving a new one I will still have one of the first year production I have it fixed up just the way I like all I need is a ECM tone I might buy a new gxp but my 06 n/a will be with me till I leave this earth. Might be in my living room where I can sit to watch tv

[StevieG]

Originally Posted by MITCH There is a difference between investment, and just plain great resale value. We are in the "Top Ten" that's pretty amazing in itself. Top 10 Cars with the Best Resale Value

So true, my friend. You weren't in the group of posters here who suggested that the Solstice was a great investment, either, and for that I commend you. It MAY or MAY NOT have great resale value at the end of 5 MYs. We will see. What I have stated here is correct: your car is not worth the prices in the categories the Edmunds or KBB have currently for them.