New Rebate $5500 + 2.9%!!!
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It sounds good to me, and matches up with my experience this morning at my local dealership. Of course, they tried to pull the ol' trick that the rebate was part of a sales price, so I walked away. It makes me feel bad for those people that let themselves get ripped off by theives posing as salesmen/women.
Yeah, one of the dealerships I'm dealing with is full of slimeball salesmen...only reason I'm still dealing is they tried to call me on what they thought was a bluff, I called them right back and the sales manager said that they would beat the best price I find or give me $500...I just want to see him eat his words.
If they take the $5500 off of sticker, that's not even as good as most dealerships have been offering...around here they have been giving $2500 off sticker, then the $3500 bonus cash...of course advertised as "$6000 off" or "one dollar over invoice before rebate".
I may have to leap if the deal is $5500 off rebate. They still may give me some coupons too!!!
If they take the $5500 off of sticker, that's not even as good as most dealerships have been offering...around here they have been giving $2500 off sticker, then the $3500 bonus cash...of course advertised as "$6000 off" or "one dollar over invoice before rebate".
I may have to leap if the deal is $5500 off rebate. They still may give me some coupons too!!!
Just got two numbers from dealers.
Local dealer 45 minutes away 25,400 before my GM card earnings.
Dealer 250 miles away 24,250 before my GM card earnings.
Local dealer has a color I prefer. both six speeds. Both will do smartbuys.
My jump tomorrow, now I gotta get rid of my '93 Z28 6 speed with 42k miles and in awesome condition with a SS stage II suspension plus.
Local dealer 45 minutes away 25,400 before my GM card earnings.
Dealer 250 miles away 24,250 before my GM card earnings.
Local dealer has a color I prefer. both six speeds. Both will do smartbuys.
My jump tomorrow, now I gotta get rid of my '93 Z28 6 speed with 42k miles and in awesome condition with a SS stage II suspension plus.
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Verification of the rebate!Snafu said:
Thanks for the verification...let the games begin!!! (err, continue)
I honestly can't believe the deal that can be had with current incentives, gm card, military discoutn, and some dealership persuasion...I'm still trying to set the lowest sale price seen yet. Wish me luck...
I honestly can't believe the deal that can be had with current incentives, gm card, military discoutn, and some dealership persuasion...I'm still trying to set the lowest sale price seen yet. Wish me luck...
I am probably signing the deal tomorrow on the one near me. I spoke with the sales manager about buyout in three years. i told him I thought it would be worth about 12k in three years, he thought 13 or 14k. The buyout on a smartbuy is 18500.
I urge you as a CPA not to buy the car but to lease it, pound the snot out of it for three years then give it back.
I urge you as a CPA not to buy the car but to lease it, pound the snot out of it for three years then give it back.
How does this make sense? If you take out a loan for $22500 after three years, you'll have less than $12k left to pay...there's no guarantee that the GTO will depreciate that rapidly. If you buy you maintain residual equity, granted, the monthly payments will be higher with loan vs lease, but in my opinion, the equity is worth it. If you did want to keep it (say it doesn't depreciate like you think) you sure wouldn't have to pay the $18500 buyout, and if you sell you should be able to recoup some money.Tom said:
I'm just curious as to your rationale. :confused
A lease is nothing but a loan with a balloon payment at the end. Say you pay 24000 for the car and have a 18000 residual. ignore tax and interest for the moment.
You are paying off 6000 (24-18) over say 36 months or 167 a month plus interest at the ridiculously low rate of 3.5% on the 18000 residual.
If you purchased the car at the same 24000 and financed it for say 60 months you are paying 400 a month and own it at the end of five years.
I am saying that at the end of three years the car will not be worth 18000. at the end of three years if you bought the car you would still owe 9600 on the car but have already paid 14400. If you tried to sell it you would get say 13000. pay off the 9600 and you have 3500 in your pocket.
It gets circular here. if you leased the car you paid 167 x 36 or 6012. If you bought it and sold it after three years for 13000 you paid 14400 and got 3600 back or you paid 14400-3600 or 10800.
If you decide to buy it after three years you can negotiate down from the 18000 residual purchase.
Bottom line is your payments are less leasing and you are guaranteed a "trade in " value at the end of the term. If you like the car buy it. The difference in interest rates is about 1%. If you decide to get an AWD 07 you won't get creamed on the trade in.
Hope that helps.
I can get a smart buy for about 285 a month using just my GM card earnings and no supplier discount (yet). that means for 10260 I can use the car for three years. if at the end of three years I want one, I can find one cleaner than mine on the used car lot for say 13000. That means with tax and interest I paid 23000 for the car.
what if you smack it up and have it repaired. with a lease it is GMs problem, you dont get an arse like me nitpicking every mark on the car to knock your price down.
You are paying off 6000 (24-18) over say 36 months or 167 a month plus interest at the ridiculously low rate of 3.5% on the 18000 residual.
If you purchased the car at the same 24000 and financed it for say 60 months you are paying 400 a month and own it at the end of five years.
I am saying that at the end of three years the car will not be worth 18000. at the end of three years if you bought the car you would still owe 9600 on the car but have already paid 14400. If you tried to sell it you would get say 13000. pay off the 9600 and you have 3500 in your pocket.
It gets circular here. if you leased the car you paid 167 x 36 or 6012. If you bought it and sold it after three years for 13000 you paid 14400 and got 3600 back or you paid 14400-3600 or 10800.
If you decide to buy it after three years you can negotiate down from the 18000 residual purchase.
Bottom line is your payments are less leasing and you are guaranteed a "trade in " value at the end of the term. If you like the car buy it. The difference in interest rates is about 1%. If you decide to get an AWD 07 you won't get creamed on the trade in.
Hope that helps.
I can get a smart buy for about 285 a month using just my GM card earnings and no supplier discount (yet). that means for 10260 I can use the car for three years. if at the end of three years I want one, I can find one cleaner than mine on the used car lot for say 13000. That means with tax and interest I paid 23000 for the car.
what if you smack it up and have it repaired. with a lease it is GMs problem, you dont get an arse like me nitpicking every mark on the car to knock your price down.
I agree on the lease. This car did not sell well. This means that it still will not sell well used. GM has to just get them off the lots at this point. Dealers are anxious the move a GTO. Take advantage of this and lease/smartbuy this car. Have fun with it then give it back to GM to lose money on in three years. GM really does not lose in three years because they have insurance to cover end of lease residual values.
Lease this car asap!
Lease this car asap!
I'm not sure what you mean by a guaranteed "trade in" value...you either buy or walk away. No residual equity, you essentially rented the car for 3 years.Tom said:
How do you mean you won't get creamed on a future trade in...I thought buying or leasing gives no guarantee of trade-in value in 3 years...I'm not clear on how the trade-in works at the end of the lease.Tom said:
I'm quite familiar with loans but not leases...sorry for the stupid questions.
I guess because I'm looking at a very low sales price, purchasing looks even better to me. Another thing I consider is being allowed to mod the car, and if you bring back a leased car all dinged up, you're going to get dinged on it.
the lease uses what they call a residual value. it is basically what they think the car is worth at the end of the lease. right now they think the car is worth ab out 18500 after three years.
they are guaranteeing the trade in value with a lease. you give the car back.
If the car is worth more than you thought at the beginning of the lease you paid too much when you give it back. if it is worth less, well you essentially traded it in for more than it is worth.
they will apply the very low sales price to a lease as well. how low are they quoting you? I am at 25,400 on a silver one by me, and 24,250 on a black one 250 miles away.
they are guaranteeing the trade in value with a lease. you give the car back.
If the car is worth more than you thought at the beginning of the lease you paid too much when you give it back. if it is worth less, well you essentially traded it in for more than it is worth.
they will apply the very low sales price to a lease as well. how low are they quoting you? I am at 25,400 on a silver one by me, and 24,250 on a black one 250 miles away.
They posted the $5500 rebates for all areas except for the western. What the f**k. I was getting all fired up to go down and get one and.
I might wait for the 2005 if I can't get my dealers to give a great deal.
So far best deal is 31700 less 3500 rebate. OK deal but not great.
GTO-TO-GO
I might wait for the 2005 if I can't get my dealers to give a great deal.
So far best deal is 31700 less 3500 rebate. OK deal but not great.
GTO-TO-GO
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