View Full Version : What is up with the market??
ZeroTolerance
11-30-2003, 12:54 AM
I was at the dealership today trying to trade my H2 in on a truck and man things are crazy...They had 6 03's left on the lot that they were taking almost 10K off the sticker to get rid of them... It is amazing that a vehicle that we all paid in excess of 50K for would go for so much less on a few short months later... It was unreal.. They were trying to get me to get an 04 H2 and they were willing to take a ton off the sticker of that one too...I could not believe it... Is the market dead already?? The sales people there said they have only sold like 3 this month and that sales were very sluggish and down a bunch... hmmmmmmmmm
ZeroTolerance
11-30-2003, 12:54 AM
I was at the dealership today trying to trade my H2 in on a truck and man things are crazy...They had 6 03's left on the lot that they were taking almost 10K off the sticker to get rid of them... It is amazing that a vehicle that we all paid in excess of 50K for would go for so much less on a few short months later... It was unreal.. They were trying to get me to get an 04 H2 and they were willing to take a ton off the sticker of that one too...I could not believe it... Is the market dead already?? The sales people there said they have only sold like 3 this month and that sales were very sluggish and down a bunch... hmmmmmmmmm
According to the folks here there is no problem locally like that. They took 4k off the last 03 they sold and are getting full boat on the 04s. You saw the addendum I posted before? Well they got full $$$ on that one, too. Idiot...
Black Lingenfelter Lux
ZeroTolerance
11-30-2003, 01:06 AM
I just think that the car industry needs to wake up. I mean I know that people are spending the money to pay for these automobiles, but come on.... Even for some money is not an issue but for some it is... I was really happy with what they offered me for mine so we will see how things turn out on Monday...
ZeroTolerance
11-30-2003, 01:20 AM
It is not about the money it is about the principle behind the matter. I weigh everything out before I make a decision and try to look at all sides... That is how I made my money and that is how I intend to keep it....
Hummer Man
11-30-2003, 01:31 AM
Zero, They should be willing to give you between $36,500 and $38,000 the high number assumes AIR SUSPENSION, SUN ROOF, BRUSH GUARD, LUX PACKAGE and REAR TIRE CARRIER. That is based on the 6k mileage figure and that is a cash price - trade-in could be more but thats just a numbers game.
ZeroTolerance
11-30-2003, 02:16 AM
Oh they are willing to give me ALOT more than that for it and I was surprised... Guess that has something to do with being a return customer....
DennisAJC
11-30-2003, 04:20 AM
Alec,
LOL
crash
11-30-2003, 06:14 AM
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by ZeroTolerance:
Guess that has something to do with being a return customer....<HR></BLOCKQUOTE>
Gm works VERY hard to achive this....
certified H2 tech. troll http://www.elcova.com/infopop/emoticons/icon_biggrin.gif
Sideshow
11-30-2003, 07:12 AM
Zero, Are you going to get rid of the H2 in your stable for good???
Come on Alec, everyone knows not to keep that kind of money in the bank...Jeezz...
When I sold cars, 17 years ago, I would shock people with outrageous payment info. Nevermind they were based on 24-30 months, no money down plus rust and dust, insurance, etc. After seeing them nearly pass out and some meaningless discussion about how much they planned on spending, I would occasionally toss out one of my favorite lines, "so how much are you willing to invest?" They were toast. What, you don't keep that much in the bank?
Black Lingenfelter Lux
There is nothing surprising about the drop, it happens with every new automobile.
37.5% drop is the basic % I use for 1-2 years autos, retail $, less when sold to dealers or on the wholesale market.
Helped a friend's daughter sold a 2 yr old Honda Civic. $10K, new $16K, -37.5%.
2 yr old MB S500, new $80K, now $50K, -37.5%.
So on and so forth, all about the same. Except with most American brands, the damages can often be worse in the first few months to a year, such as Cadillac 02-03 sedans, which are on the last leg of its life. You can buy 03 Cadi sedans $25K, new $40K, 37.5% drop in 1 year.
The high resale value in the first 6 months is common among HOT brand new models with waiting list, that lasts 6-9 months, only a matter of time everything will fall back into places in the chain of supply and demand.
Most of us freak out when we lose $1K or $10K on an investment, and you will never forget nor forgive that brother-in-law who told you to buy that stock; or get upset when we paid $10 extra on something we bought last week but on sale this week, but when we buy new cars, we knew going in that we will lose $10K-$20K in 1-2 years, yet we will do it. For one thing, I don't see any solution.
My experience with many European cars is $5K drop in value per year after the first 1-2 years. That is $500 a month leaks out of your pocket no matter what you do or don't do. There is some smart logic for buying cheap Japanese cars, financially speaking.
I like this 04 Cadillac sedan, waiting and may buy it, but I will lose $15K in 1-2 years. What can you do?
AL MOORE
11-30-2003, 07:52 PM
MAC,
We should enjoy it as we go. I would enjoy that Cadillac more than a stock certificate anyway. I agree that you will see a $500 -1,000 drop per month. The best that I ever did was a 1972 Corvette L82(the last year with the chrome rear bumper). I drove it five years of college and grad school and sold it to a Navy student pilot for only five hundred less than the original sticker. However, 20 vehicles later, I have never made a profit and do not expect one.
.
"Follow the white rabbit..." Morpheus 1999.. It is finished.
Jigga
12-01-2003, 12:36 AM
Just keep the damn cars and enjoy them for the money you put into it. I could care less about the resale value of my H2. I knew as soon as I left the dealer that I had lost a few thousand, but I don't care...I'm going to be keeping this thing for a LONG time.
2003 Pewter H2 with Adventure Package, 20% tinted front windows, K&N aircharger filter kit, 3 screen DVD and Playstation 2 system. Soon to come: 37" MT/R's, Warn winch, XM and subwoofers.
Centerfire
12-01-2003, 01:08 AM
You might try my way.. Get the best price you can when you buy your toy.. Get the best price when you sell your toy.. Take the differemce and divide by the number of months you owned the toy.. Then just take that Number and figure out for yourself that you most likely piss away more each month for less. If you enjoyed the toy it was worth it.. If not. oh well there is always the next toy.
Mike
Once I bought the auto, I don't want to talk about the price, I don't want to think about the price, and I don't want to see any price. Some smart as* is gonna tell you he got it cheaper, or you could do this or that. Except once I ran into a guy at my dealer service gate, his Hummer is almost same as mine within weeks, he said he paid $75K or something shockingly high, I changed the subject when he asked me about my H2 cost, I don't like to see grown man cry. Once I bought a new TV or PC I have to try hard to avoid eye contact with any TV/PC ads in Sunday paper.
Same is true once I sold the auto or broke up with GF, its over, walk away, move on. Out of sight, out of mind. Anyone ever sit down to add up all the money you spent on cars in the past years since you started owning autos?
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