Lower price after release of 2008 models?

[iblokh]

I am looking for a 2007 Pontiac Vibe (at the lower end of the price range, with minimum options). At this point I have a $1,000 rebate from my GM card, but that expires on September 4th. In your experience, how much do cars like the Vibe drop in price once the 2008 models are on the sales floor? From what dealers have told me, the new models should be in by late September, so I'm wondering if the 2007 models they have left will drop more than $1,000. Any advice appreciated, thanks!

['97ventureowner]

A lot depends on the demand and how much the dealer is willing to negotiate down to get the car off his lot. If dealers in your area are still selling '07s at a steady pace they might not be willing to go down much lower until the very end, which would be too late for you to use your rebate. Another thing to consider is availability on the specific vehicle you want. Many cars on the lot come with a lot of options already, while few of them are minimally optioned. It might be worth your while to check the inventories of any dealer in your area to see if there is a specific one that interests you. If you wait til the very end you might have to settle for a "more optioned" car at a higher price.

[iblokh]

I've been looking at Vibes in the area for about a month, and so far none of the 25 listed have sold. Since this doesn't seem like steady sales to me, I would guess that when the 2008 models come in full force, the dealers will be even more anxious to get rid of the 2007 models but cutting their price down.

Also, I misspoke - the $1,000 rebate is not through my GM card (that's a separate one), but just a general rebate from GM that expires on September 4th. In your experience, when a rebate expires is it usually renewed? Does it tend to increase?

['97ventureowner]

Originally Posted by iblokh

Also, I misspoke - the $1,000 rebate is not through my GM card (that's a separate one), but just a general rebate from GM that expires on September 4th. In your experience, when a rebate expires is it usually renewed? Does it tend to increase?

I was going to say "Wow! That's a hefty rebate on the GM card." I had a GM card in the early 90's and racked up close to $550 on it in rebate that I used to purchase my 1994 Chevy pickup brand new. The salesman was shocked when he saw the paperwork from the card issuer with my rebate info, and said he never saw one so high before. I remodeled my kitchen and did some other things to raise my rebate level which back then was 5% of purchases. Right after I redeemed my rebate the card issuer changed the rules making it harder to accrue a higher rebate like I did by setting certain restrictions on what can and cannot count towards garnering a rebate. Glad I did it when I did. That was the only rebate I got off the truck as back then GM rarely offered rebates on their trucks like they do now.