AHAH! 07 on the used car lot...

[Newbiewar]

LOL! I was laughing my ass off today, when i customer came in with their brand new 07 and said he wanted to trade it in... I was like OMG, its barely 06... you think KBB even has the 07 prices for new cars set up? and you want to trade it in already... haha!

okay lets leave you guys with that much of the story ...

okay... Febuary 2nd this guy picks up an LS tahoe... for like 33k plus tax and liscensing... puts 5k down, payments are like 630...

the guy, really wanted to LTZ model, but decided that he wanted low payments... so after putting 133 miles on the vehile and waiting a month, he decides, he really would prefer the LTZ... so sure enough he brings it in, trades in the 07 that he purchased for 33k... and now he has purchased an 07 LTZ with a sticker price of 47k and throws another 5k down payment and walks out with 930$ payments...

ouch should have taken it the first time...

we didnt have a trade in value for it... of course kbb doesnt have it... so we gave him 28k for the LS... so all in all we've got a used 07 tahoe with 133 miles on it... LMAO

Edited March 5, 2006 by Newbiewar

[Flybrian]

Oh, c'mon, an '07 what?

[Croc]

derr, Tahoe.

Suburbans aren't out yet, and GMC doesn't make an LTZ.

[ocnblu]

Your dealership gave this guy $28k for an '07 Tahoe with less than 200 miles? Shame on you!

He could have Ebayed it for soo much more, so I can't place all the blame on the dealership I guess.

[ToniCipriani]

I think I might saw the same situation. Not sure if it is though.

Right after we leased our Cavalier, after a month or so, I saw this 2003 Alero GX on the lot, with 430kms on the odometer.

[beck27]

$5K loss for 133 miles

No wonder they call them stealerships.

[ocnblu]

You guys are supposed to be keeping GM resale values UP, especially for repeat customers.

[Newbiewar]

You guys are supposed to be keeping GM resale values UP, especially for repeat customers.

we will... it'll probably be on the used car lot at a higher price then they are new...

but we have no information to go off of with kbb not having 07's up...

but if we cant sell it within 60 days... it goes to the auction... so we cant give him too much

Edited March 5, 2006 by Newbiewar

[chevynj]

$5K loss for 133 miles 

No wonder they call them stealerships.

If the dealer put 133 miles in it some might not even call it a demo yet and would still sell for full MSRP. At least that is how it is around here.

[daves87rs]

Ouch! And they could still sell that Tahoe for full price if they wanted too...

Or even make it a test driver...

[Newbiewar]

If the dealer put 133 miles in it some might not even call it a demo yet and would still sell for full MSRP.  At least that is how it is around here.

yea i hate having demos... our demos have like 4-6k miles... but technically if it has more then 6k miles it must be considered a used vehicle...

but since the car was already registered to the guy... we cant slap it on the new car lot again...

[jlgolden]

In 1997 I bought a brand new '98 Escort (base) sedan...my first new car purchase...still in college. Anything seemed nicer than my 8 year old Grand Am. But after 3 weeks, I hated the road noise on the highway and the lack of torque on acceleration.

-

So after a total of 5 weeks of ownership and 1200 miles, I traded it on a '98 Ranger V6 and lost about $3500. Lesson learned. Almost.

-

In 1999, I bought a new 2000 Celica, and hated it after about 6 months...again, due to road noise and puny torque...damn! Again! Lost $5k when trading it in after 13 months and 39,000 miles. OUCH.

-

At least now I'll spend more time test driving before buying a car. The biggest lesson learned is that lightweight, small cars with small, high-revving engines will wear me out on my highway commute.

Edited March 8, 2006 by jlgolden

[Newbiewar]

yea moarl of the story... know what you want, or want to afford... and get that... i see people every day compromise on what thye want... and i am like... hope your happy...

like heres another example...

lady purchased a trailblazer extended put 15k down... and a month later was like... i need a tahoe cause this isnt big enough...

to learn that trailblazers have horrible resale value... she didnt have any equity in her trailblazer...

[jlgolden]

After too many costly car purchase lessons, I was cautious when I researched and bought my 2004 Grand Prix.

-

Most new vehicles depreciate steeply...the GP is no exception...and I knew from the start I'd need to keep it at least 3 1/2 out of the 4 years on the loan to break even and trade it without suffering negative equity. Only 18 months to go and it's paid-off!

-

But my research indicates that if I'd bought the '03 Accord I was cross shopping when I got the GP, I'd actually be $3000 closer to an equity position right now....even though the cars cost about the same new.

-

Granted, the Accord was a 4 cyl , and it lacks the visual "oomph" and aggressive character of the Pontiac...but we're only talking numbers here, not driving enjoyment and lust factor.

-

This is all food for thought when the next purchase time is here.

Edited March 8, 2006 by jlgolden

[Sixty8panther]

Spring of 2003 when I was still working at Chevrolet of Lowell a guy came in and bought a green Silverado Ex-cab 1500.

He wanted to tow a large boat and plow with it... we told him it would be smart to step up to the 2500 esp. simce GM voids the warranty on a 1500 Ex-cab if you plow with it.

So anyway, a month later and like 1400 (or was it 1700) miles later he trades the truck in on a 2500 and pretty much flushes $7000 down the toilet. Sucks for him, I felt bad, but one of the other salesman scored a sweet commision on the trade-in.

Even a better story is when a yuppie white-collar looking contractor traded a Tundra with like 3ooo miles in on a Silverado and told stories of $h!ty craftsmanship, tinny feeling chassis and uncomfortable ergonomics. He lost his shirt too but was happy to be in a GM again. That one warmed my heart.