SRT8's value depreciate quickly?

[kobe8]

Friend of mine was looking at car over the weekend, so I drove him to the dealership. The salespeople come out and they are making comments on how they like the car alot. Just for fun with no intentions of trading it in the appraisal guy was sitting there and stated he would give me $27,000 for it, I grabbed my friend from the salesperson and told him lets go, just for that comment alone I knew these guys were crooks. A year ago when I traded in my 300c I got 29-30 for the trade in towards my SRT8. Looking at KBB the trade in value should be around 34,375. Given the $27,000 that is a tremendous hit a year especially given the fact that when I got my SRT8 there were still dealer markups. Are the 300 models in general on the lower side of trade in or are the SRT8's


Top of the line brand new 07 300 SRT8 retails 48,325 fully loaded just of off retail price and what the crook I mean dealer offered of 27,000 it would be a drop of about $ 21,000 in a year or going off of Kelly Blue Book it would be a drop of $13,950 in a year


Looking at an Acura TL 07-08 retails for 36,225
Kelly Blue Book retail is for same miles and like features of the 300 trade in value is $27,600 drop of $ 8625 in a year


Lexus IS350 similar features $ 42,640
Kelly Blue Book same miles of the 300 and TL

$ 32,300

drop in a year 10,340


Cadillac CTS-V $ 53,470.00
Kelly Blue Book $ 36,775 with like miles and options as the SRT8 drop of
$16,695


Pontiac GTO $ 33,785
Kelly Blue Book with like miles for all other cars $23,425
drop of $ 10,360


Should we expect for the prices to continue to go down and what shoudl we expect in terms of value in about 2-3 years.


Any thoughts thanks

[GoofyTimL]

Don't think the guy knew what he really was lookin' at. I'd take my buddy and run also!

On the other hand... Employee pricing, and the way DCX over glutted the market (even on SRT8 to some extent) last year is hurting trade-in value this year... and also high gas prices... although the perception that these beasts are fuel hogs is highly over rated in my opinion.

I get 22+ mpg on the road with my MSRT8, and my '94 T&C AWD V6 van never got better than 21 mpg... ever!

[4herb2tas0tik]

well i have to say i didnt buy this car to worry about resale....i will drive this biaatch into the ground and then get a new one...O how i love my car!!

[marnepup]

Well, I paid 45k for mine (refused to pay $2000 to replicate yahoo! maps in my car...especially since DCX navs are far from state of the art...and I hated the moonroof in my old car, so opted out of that as well...got every other available bell and whistle)...and just saw a LOADED 06 SRT8 on a dealer lot marked 38 and change....so I lost $7k right there. Depreciation has to be figured off of what the going rate is for new, not what you and I paid. So if a new 06 SRT is $38k, then $27k is "only" $11k depreciation. I really doubt that you could get $34k for a used SRT8...maybe 30-31.

But I'm with herb on this one...only I'll drive her into the ground, then rebuild the engine and go again...not buying another one. This one's going to auction in 2056 with the original engine, original two piece front fascia, all original, bone stock...and half a million miles on the mill (but only a few k since the most recent rebuild).

[topfuel67]

You'd have to look at historic car sales of a similar status to judge. Take the values of the 94-96 Chevy SS Impalas. Those were produced in low numbers (2000-8000 cars each year). Those cars still are selling for the $15k range (a lot more for low miles). Look at the Buick GNX. Not too many cars come along like the SRT8. All the Acuras and Toyotas will hold their value for 3-4 years, but after that they're worthless. I bet these will hold $20k for well over 10 years.

[4herb2tas0tik]

Originally Posted by marnepup

But I'm with herb on this one...only I'll drive her into the ground, then rebuild the engine and go again...not buying another one. This one's going to auction in 2056 with the original engine, original two piece front fascia, all original, bone stock...and half a million miles on the mill (but only a few k since the most recent rebuild).

...yea why would i buy i new one...i ment iam going to drop in a 426...what was i thinking...

[marnepup]

Originally Posted by 4herb2tas0tik

...yea why would i buy i new one...i ment iam going to drop in a 426...what was i thinking...

Mmmmmm....no replacement for displacement!

[Jaybo]

Lowball price...but you always have to be relistic on your trades...too many people think their car is worth exactly what or more than they paid for it.

I paid 36 for my fully loaded 300SRT8 and I would expect if I traded in today at least 30-34 nooooo less then 30 no way no how.

Jaybo 06 300srt8 SS

[Steve Levin]

For a dealer trade, I don't think it's bad at all. Given that dealers can typically only sell a brand new 2006 (and they have some) for 35 grand, how much can you expect them to offer? They'd have to resell it for, what, 32 grand at most, maybe 31, and pay a salesman commission, pay to clean the car up and repair any small defects, and the flooring costs of the car.

And I'm sure you could have worked him up slightly higher price than his first offer.

But really, how much do you think you can get for a used car on a trade?

Steve

[DaveW68]

Originally Posted by topfuel67

You'd have to look at historic car sales of a similar status to judge. Take the values of the 94-96 Chevy SS Impalas. Those were produced in low numbers (2000-8000 cars each year). Those cars still are selling for the $15k range (a lot more for low miles). Look at the Buick GNX. Not too many cars come along like the SRT8. All the Acuras and Toyotas will hold their value for 3-4 years, but after that they're worthless. I bet these will hold $20k for well over 10 years.

$20k value in 10 years? Very highly doubtful. I'm guessing more like $7-8k or less. Muscle cars are back and appear to be here to stay. Our 425 hp SRT-8's will look like nothing compared to where cars will be 10 years from now. I'm sure there will be lots of cars pushing 700 hp in 10 years priced in the $50k range brand new, especially with the HP wars going on. The 300 was a pretty ground-breaking car as far as American cars go in 2004, but there will be plenty more where that came from.