Very steep. I had a dealer offer me an 04 for $24,200 and another in southern Illinois offer one off his lot for $22,400. I've seen on this forum that if you apply your GM card discounts you can get below $20,000 for a brand new GTO. That said... I went to buy an 04 for the above price and ended up driving away in an 05 for quite a bit more. After driving both I thought the 05 was worth it. I could have had an 04 with a supercharger added for less money but I took the 05 and love it. Great car. I'd say drive both. The 04 is a wonderful car as it sits, very cheap, with tons of potential. The 05 is a step up with gobs of power and a great sound at a stepped up price. I personally like the looks of the 04 better. At a future date I just may buy an 04 hood for my 05 and store the 05 hood for future use. Who knows. For me, the 04 was great and the 05 was even greater.