Resale Values diving into the pooper...

Ladies & Gentlemen...
Well, just for sh!ts and giggles, I went to a GM dealership last night to check on upgrading my TB to something else... whatever... Long story short...
They wanted to give me $14,200 for my TB. Thats 20k less than sticker a year and a half after I bought it!
They are saying that due to the new "employee pricing" used values on all GM products have DROPPED. Because what used would be sold for 22k, a customer can now buy a new TB for about 26k. Therefore we, the owners are the ones who have to pay the price.

Just wanted to let you all know!

I'd think alot depends on who you are dealing with. We got $12,500 for our 2001 Grand Am GT1 as a trade on a '04 Trailblazer.

Well, got mine LS EXT 2005 for US$ 28K in Kuwait with one year FREE full insurance. Just been 6 months and there are giving me only 20K if I traded in......

They are saying that due to the new "employee pricing" used values on all GM products have DROPPED.

"They" being the GM dealer? :)

Trade-in at the dealer is convenient, but it's among the worst places to sell your car if you want to get the most $ out of it. Most people look to Kelly or NADA bluebook, which are compiled from surveys of selling prices and updated -- what, monthly? I doubt the GM incentive has had time to influence those prices significantly.

0% financing, employee pricing... anything that makes new cars more affordable will have some effect on comparable used car prices -- but I rather doubt a short-term, one-time promotion has all that much influence. IMHO, $2.50 gas is wrecking resale value of the TB much faster, and when we hit $3.00, it's going to drop like a rock.

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I was offered 10K for my 2003. :icon16:

For another $150 a month I could have a new TB almost exactly like the one I already own. I said NO THANKS! :uhoh:

Its gonna get even worse cuz now all the major manufacturers are doing the "employee pricing". Your sales drop so you flood the market with low priced new vehicles and turn the resale value to sh1t for the next 5-10 years. All so some greedy execs at car companies can up their 6 and 7 figure incomes. The best part is all the schmucks actually falling for the scam.

Well.....not so sure they are "scmucks" or is it a scam....

If you were in the market for a new car, of course lower pricing is always the best. While it kills resale value on older cars...it's still a good deal. Heck, if GM or any other MFG wanted to sell new cars for a grand, I guarantee that resale value on our cars would drop to $100....

Oh well.

The best part is all the schmucks actually falling for the scam.

What scam? Increasing sales by lowering prices is as old as retail... and good news for us "schmucks."

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We took advantage of it for my Wifes tahoe...
Check this out... she had an 03 LS Base.
Upgraded to an 05 LT w/ everything except nav & dvd.
Less money! No money down! Gotta love it.

However... once again... they don't want my TB.

Note that for a long time now, about any GM vehicle loses 50% of its value in two years. Have had some shocks myself when trading in. I usually expect to buy new and drive it untill it's junk, give it away. Our next purchase will probably be used though, just to avoid the service department fiascos. Rather pay to get it fixed and enjoy that 50% discount, and a two year old vehicle might have the bugs worked out and fixed anyway. That's my thinking anyway.

Well they will be more willing to deal with you soon Because with the outrageous price of gas and people coming in to the dealership saying why would I pay 32000 for a vehicle you were selling last month for 26000. They may have dug there on hole.

Ladies & Gentlemen...
Well, just for sh!ts and giggles, I went to a GM dealership last night to check on upgrading my TB to something else... whatever... Long story short...
They wanted to give me $14,200 for my TB. Thats 20k less than sticker a year and a half after I bought it!
They are saying that due to the new "employee pricing" used values on all GM products have DROPPED. Because what used would be sold for 22k, a customer can now buy a new TB for about 26k. Therefore we, the owners are the ones who have to pay the price.

Just wanted to let you all know!

I went to a Ford Dealer here in Orlando and they said the same. The Trade in value is much more less what you can get when you sell on your own. When visiting Dealers just print out from the Blue book Value the Trade in Value for your vehicle. Be sure to mark every option you have on it. Green way ford printed one for me which did not include the Dark Factory tinted windows, Cruise, Front Air Bags, Running boards (Factory) and Reverse Sensors which I installed and look like they we're Factory Installed. Also the Fog lights, all this when I told the salesman to re print with my real options the price changed from $14,020 to 16,070 based on my millage of 25,000 for a 2004 Trailblazer LT.

I doubt Ford dealers would give more for your Chey anyway.