Kelly Blue Book... Depressing Trade-In Value of 03

[jeffsavage]

Just for the hell of it, check out dealer trade-in value for my 2003 Cobra. Mint condition, only 5,000 miles on it. $25,900! Wow, lost $9,100 in value in the 8 months I have owned it. That is total crap. Thanks SVT and Ford for building way too many of them and helping ruin the value of this car... and then screwing the people who bought them with no discounts or rebates (Of course, it's an exclusive vehicle, right?) and then doing all these sales which further erodes the value. Ouch, what about the people who paid over sticker when they first came out?
I'm just venting... that is a depressing number. I know a vehicle loses more the first year, but that seems really high. I guess I am stuck with this car for awhile now!!

 

[28]

The KBB is a total joke IMHO.....

 

[AtomHeart]

If you think that is depressing, keep in mind that Kelly Blue Book is usually 20% high on all their prices compared to what an actual dealer will offer you on trade in.

The only viable financial option is to sell one of these cars to a private party. If you trade it in, limited edition or not, you're gonna get raped.

Every car I've ever bought brand new has depreciated $10,000 in the first year, and so this car is no worse than any other regardless of what Ford has done with production, sales, etc. Cars are not investments, period.

 

[NJCOBRA10thA]

You can't compare trade in versus list price.

There was a $2,500 rebate on 03 Cobras when I bought mine and you should also factor in XPlan pricing. It's not that you paid $35,000 and are getting $26,000 on trade or whatever you said.

It's more of a case of list was $35,000 you could have gotten a $2,500 rebate =$32,500 plus I don't know $2,500 discount for Xplan.

I just bought my wife anew Mustang GT. If I bought an 03 vs 04 it would have been brand new ith $,4000 rebate plus X-Plan plus $500 bonus rebate for XPlan = $18,700. (she liked the 40th anniversary badges so it cost me $1,500 more for those badges to get her an 04 - lost $1000 off rebate and higher sticker)

If Trade in on an 03 GT is (making it up) $15,000 it's not $15,000 vs $25,000 sticker it's versus the $18,700 lowest price it sold for during year.

All in all I think $25,000 trade in on a car that I paid $35,000 sticker - $2,500 rebate - $2,500 X-plan isn't so bad.

Unfortunately many paid closer to sticker and got no rebate.

The 03's are still available with $1,500 rebate now and most dealers would sell at X-plan to get rid of inventory so what could your car be worth on trade when you can instantly get $4,000 off list price on a brand spanking new 03.

 

[NJCOBRA10thA]

Sorry for the dupe, website farted.

 

[AtomHeart]

This is precisely why we all say its so stupid for anyone to pay over sticker price for any car. If you did, you are getting what you deserve!

If you plan on keeping a car for only 1 or 2 years, you should NOT be purchasing that car, you should be leasing that car. Purchasing is for people who dont mind losing money, or will be keeping the car until it is nearly or completely paid off.

 

[03torchvert]

I was at ford the other day talking with a buddy who is in sales and he looked my car up (2003 cobra vert ann.) in the black book. The xtra clean book on my car was $28,000.00.

 

[ArkangelX3]

If you were expecting to get your money back or anywhere close in under 10 years, your sadly mistaken

 

[AzDropTop]

you think that's bad. My 99 vert is only worth about 12,000 on a trade in.

 

[jeffsavage]

I bought mine well before there were ANY rebates OR discounts on the 03's. Also I paid 900 under sticker. I guess it is upsetting that SVT dealers are totally hard nosed with dealing on price, so lot's of owners paid sticker, over sticker, or a slight discount on the car. SVT markets these as exclusive vehicles, and from my knowledge they haven't really done rebates or special discounts on them before? (Maybe I am wrong).
All I see is a bunch of people who paid top dollar for their Cobras, and now with all the discounts and how many 03's ended up being built, the trade-in value is really poor. And that's a shame, it's a great car and should hold value more... I would expect it to do better than the median average in the auto industry.

 

[SnakeSkinner]

Just wait until the new body style hits showroom floors this summer or a few months later when the Cobra comes back on the same aforementioned new platform. 2003 models will then be seeing mid $1X,XXX prices. Don't worry though, you're not alone. Z06 owners will experience the same thing once 400hp C6s become more plentiful than Camrys at your local supermarket shopping lot. Enjoy your vehicle in the meantime and remember it's not an investment.

 

[SlammedSVT]

Book value rips everybody off. Cars are just way over priced.

 

[Vrrooom]

Part of it has to do with how many of them Ford built. I think this is one of the highest production #s for the Cobras. Another reason is, Ford is offering all the special pricing and rebates on so many vehicles now, including the Cobra which didnt help its value at all. Why pay $29k to a Private Party when you can spend that much and get it brand new?

 

[AtomHeart]

I do believe our vehicles will do better than the average car on the U. S. market, but that is after 5 years. Even a Porsche or Ferrari seems ridiculous depreciation in the first 5 years, but then the limited edition and performance cars start to level off and then even start to climb again after long enough. Cars are almost always going to lose money, but the only sane thing to do is keep the car for 5 or more years, or lease. No matter what car you by, if you are purchasing cars, and trading them in a year later...you're gonna lose $10,000 a year on average. Period. It may be even worse on higher priced cars like a Lexus or Infiniti.

 

[svtxchinoy]

Cars always depreciate the most during the first 2 years, every car is like that. Its the long run that shows the true value of the car. I traded a 2001 Infiniti I30t for my cobra in Sept of 2002, and I only got 16000 from the 31000 i bought for it, which was in august of 2000. No matter what car it is, its going to go down.
Also, if you trade it in anywhere else but a Ford dealership, its gonna be even lower, because its harder for say a Toyota dealership to sell a Ford then it is a Ford dealership to sell a used Ford. Unfortunately, thats how it works, IT SUCKS!! :bash:

 

[flyn high again]

Originally posted by AtomHeart
I do believe our vehicles will do better than the average car on the U. S. market, but that is after 5 years. Even a Porsche or Ferrari seems ridiculous depreciation in the first 5 years, but then the limited edition and performance cars start to level off and then even start to climb again after long enough. Cars are almost always going to lose money, but the only sane thing to do is keep the car for 5 or more years, or lease. No matter what car you by, if you are purchasing cars, and trading them in a year later...you're gonna lose $10,000 a year on average. Period. It may be even worse on higher priced cars like a Lexus or Infiniti.

I agree. Luxury SUVs are even worse than cars...

The Terminators' depreciation will level off after a few years and then drop much more slowly. If you only want to keep a car for a year, buy a year old one to start with so someone else takes the big depreciation hit [or lease].

 

[Cobra-Master]

Trade in values always suck... nobody will ever be pleased with trade in value because it will never come close to retail value, especially when the car has only been on the market for a little over a year.

Trading in a car is a dealer's bread and butter dream...

 

[AtomHeart]

And by the way, there is no reason to feel depressed about being stuck with an '03 Cobra!!!!

 

[Darcsun]

LOL... I paid 27.7k with the optional $1000 7 year warranty. I'm gonna make a profit according to KBB! w00t!

 

[fr03cobra]

I bought my vert. for 41500. I've put 10,000 into it and still was only going to get 27,000 on a trade in on a mystic vert.:burn: