How is Ford going to sell the 04 cobras when....

[IDAREU]

I am not worried about resale of GTO , that is why I am leasing it. Payments are $213 a month x 36 months = $7668 total costs to drive this car for three years. A Cobra (or most cars over 35k)will drop that much in value in just the first year.

 

[1CEBITN]

I am not worried about resale of GTO , that is why I am leasing it. Payments are $213 a month x 36 months = $7668 total costs to drive this car for three years. A Cobra (or most cars over 35k)will drop that much in value in just the first year.

You are not thinking about that right. You got $10k back from your Grand Am. Assuming you probably spent around $20k on the Grand Am initially, plus the $7668 you had to spend to drive the GTO minus the $10k they gave you back for the lease, you spent almost $18k total. To sum it up, you spent $27668 - $10000 = $17668 to drive a GTO for three years. :shrug: At the end of three years, though, you will have no car instead of a car worth $10-12k (grand am). You could have kept the 04 Grand Am and made money selling it after three years for at least $10k, assuming you paid cash initially which you always say you do. Granted, the GTO is more fun to drive but you are paying for that regardless.

You sure use some funny math to justify buying and selling cars. The bottom line is that cars are not investments and will never hold value no matter how fast you turn them over. If you want to invest, buy a mutual fund. The rest of us understand that these cars depreciate but 98% of us didn't buy the car to sell, we bought it to enjoy. It is a hobby and has a price, just like your GTO.

 

[MystichromeVert]

I am not worried about resale of GTO , that is why I am leasing it. Payments are $213 a month x 36 months = $7668 total costs to drive this car for three years. A Cobra (or most cars over 35k)will drop that much in value in just the first year.

But the '04 Grand Am was paid for, right? Then the total cost to drive that car for 3 years would be $0 x 36 months = $0. In my eyes, the 10,000 that you got back on the trade is being wasted in lease payments.


Looks like 1CEBITN beat me to the punch.

 

[IDAREU]

FYI, I paid $12,000 for the grand am. It had 7000 miles on it. I got $13,500 for it on a trade. I also used Gms discount, 1500 in dealer vouchers and 750 in bonus earnings on my gm card.
Lets say I just held onto the grand am for 36 months it would probably be worth $6000 or so. Subtract the total of my lease payments from the value of the grand am and it is fairly equal, math wise. The only glaring difference is now I am driving a 350 hp car vs 175 hp grand am.

 

[saleen09]

Please frequent the GTO forums. That is until you sell it and start dogging it over there.

Troll

 

[1CEBITN]

FYI, I paid $12,000 for the grand am. It had 7000 miles on it. I got $13,500 for it on a trade. I also used Gms discount, 1500 in dealer vouchers and 750 in bonus earnings on my gm card.
Lets say I just held onto the grand am for 36 months it would probably be worth $6000 or so. Subtract the total of my lease payments from the value of the grand am and it is fairly equal, math wise. The only glaring difference is now I am driving a 350 hp car vs 175 hp grand am.

So, then I will ammend my statement above. You paid $19668 - $10000 = $9668 to drive the GTO for 3 years.

The glaring difference I see is that in three years you will have spent $9668 and have nothing to show for it. If you would have kept the Grand Am you would have a car worth $6k or a little more. :shrug: That would not have been my choice. You are going to have to put $6k of your own money towards the next toy to break even now or drive one of your other 6 cars To each their own.

It sounds to me like you are just like all the rest of us here... You are willing to spend a certain amount of money to drive something fun regardless of the financial hit to some extent. Driving the 350 hp GTO was worth $9668 to you spent over three years. My Cobra won't depreciate that much in three years and yours wouldn't have either. From what I have seen with my 98 Cobra and now with the 03, they seem to depreciate about $3k/year on average. Regardless of what you "can" buy one for, 03 Cobras will sell for 26-28k right now with low miles all day long around here, most new ones were bought for $28-29k which is what I paid for mine. Sure there are going to be those who have to sell for one reason or another and a buyer can take advantage but you sell a car for what someone is willing to pay and there are always those out there who will pay more than others. If you pay invoice or less for a car, you don't lose as much the first year which you have obviously figured out too.

 

[The Pun]

HEY, YOU DESERVE THE 175HP GRAND AM YOU PUD!!!!!

FYI, I paid $12,000 for the grand am. It had 7000 miles on it. I got $13,500 for it on a trade. I also used Gms discount, 1500 in dealer vouchers and 750 in bonus earnings on my gm card.
Lets say I just held onto the grand am for 36 months it would probably be worth $6000 or so. Subtract the total of my lease payments from the value of the grand am and it is fairly equal, math wise. The only glaring difference is now I am driving a 350 hp car vs 175 hp grand am.

 

[IDAREU]

Pud,\\

I have not heard that word in 30 yrs!

 

[saleen09]

Pud,\\

I have not heard that word in 30 yrs!

So you've been on this earth for 40 or so years and haven't figured out math yet? :shrug:

 

[IDAREU]

So you've been on this earth for 40 or so years and haven't figured out math yet? :shrug:

Yes I have figured out math. It goes something like this. Purchase of a new Cobra is = to bend over and take it up the depreciation butt.
The only difference between the titantic and a 03 cobra is that the Titantic took longer to go down!

 

[flyn high again]

Who cares? I bought my car to drive. I'm not worried about resale value. I've also driven the new GTO and IMHO, it's a dog. You enjoy your car and I will enjoy mine. oke:

 

[Rootus]

Yes I have figured out math. It goes something like this. Purchase of a new Cobra is = to bend over and take it up the depreciation butt.
The only difference between the titantic and a 03 cobra is that the Titantic took longer to go down!

On the bright side, the Cobra is a whole lot faster than the GTO and a lot better looking.

I let someone else take $12k of depreciation on my Cobra ... works out to $4 per mile that they drove it...

 

[MystiChrome Coupe]

Yes I have figured out math. It goes something like this. Purchase of a new Cobra is = to bend over and take it up the depreciation butt.
The only difference between the titantic and a 03 cobra is that the Titantic took longer to go down!

Posts like that is what gets you posts like this in return, IMO.

Please frequent the GTO forums. That is until you sell it and start dogging it over there.

Troll
Yesterday 03:24 PM

 

[04Torchvert]

there is no 03 new going for 19k there is used ones already over 20k that have alot of miles on them that have bids and the reserve is not met.
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&rd=1&item=4510598792&category=6236

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&rd=1&item=4510358330&category=6236

who are u kidding bro show me an ad. I showed you. Now why would someone bid for used cobras when you say there are new ones for 19k I guess you wish this but lets be serious

 

[The Pun]

I have not heard that word in 30 yrs!

I am retro!

 

[04TRCobra]

IDAREU....cant you tell that NOBODY HERE WANTS YOU ON THIS BOARD ANYMORE!!!!!

go sit down and do the math on that one!

 

[PowerWheels]

I am not worried about resale of GTO , that is why I am leasing it. Payments are $213 a month x 36 months = $7668 total costs to drive this car for three years. A Cobra (or most cars over 35k)will drop that much in value in just the first year.

Better not drive it too hard, there is a clause in most leases that will screw you out of serious cash, even if your car doesn't depreciate as fast.

 

[IDAREU]

Better not drive it too hard, there is a clause in most leases that will screw you out of serious cash, even if your car doesn't depreciate as fast.

I understand what you are saying, that is called abuse. The good thing is that the smartbuy/lease is with GMAC they are probably the best company I have seen for not sticking it to you at the end of lease with bogus charges.
I work for a large dealer group and some of these leasing companies are brutal when it comes to end of lease charges. Ford can be very hard to deal with thier condition reports.

Btw, I sold the last GTO we had today. It was another smart buy
Msrp $33,390
Gms discount
$5500 REBATE!!!!!!!
$2000 in Dealer Vouchers
$1600 on Gm card
36 Month payment was $227.
Zero cash from customer.

Again I ask what is Ford doing to move 03/04 Cobras?

 

[WDW MKR]

I understand what you are saying, that is called abuse. The good thing is that the smartbuy/lease is with GMAC they are probably the best company I have seen for not sticking it to you at the end of lease with bogus charges.
I work for a large dealer group and some of these leasing companies are brutal when it comes to end of lease charges. Ford can be very hard to deal with thier condition reports.

Btw, I sold the last GTO we had today. It was another smart buy
Msrp $33,390
Gms discount
$5500 REBATE!!!!!!!
$2000 in Dealer Vouchers
$1600 on Gm card
36 Month payment was $227.
Zero cash from customer.

Again I ask what is Ford doing to move 03/04 Cobras?

Again, I ask, what are you still doing on this board asking dumbass questions? I haven't seen an '04 Cobra on the last 3 SVT lots that I've driven through. Still see plenty of GTOs parked in the corner. oke:

 

[psucobra]

I guess im an indiot then... Just bought an Black 'O4 last wednesday with $2,500 rebate and $1,000 cash back for financing with Ford. I got it for $29.5(+ tax) out the door. In my world $29.5 for a car with a $36,186 MSRP is a hell of deal any way you look at it.