I looked at carmax.com and saw a 05 GTO for 25998 with 4k miles. I saw a 05 GTO on autotrader for 23,998 with 10k miles. My question is that how is this possible, such a huge drop in price? This is a 34 thousand dollar car. At this rate, you might get one in low twenties by end of this year or early next year. Speculations on how much it might be at the end of the year?
Value of GTO?
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While that sounds like a lot, it is rather typical of the depreciation to be expected on an American car. That's just the way it is.
There are a few overly optimistic sorts on this board who have speculated that the '05 GTOs would not suffer from the same depreciation as the '04 models, but that is just wishful thinking. ALL of these and similar cars will depreciate A LOT. Mustangs, T-birds, the new Chargers, Corvettes, all of them.
There are a few overly optimistic sorts on this board who have speculated that the '05 GTOs would not suffer from the same depreciation as the '04 models, but that is just wishful thinking. ALL of these and similar cars will depreciate A LOT. Mustangs, T-birds, the new Chargers, Corvettes, all of them.
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I have to ask...but from Groucho's standpoint...
IF this car was brought over with Holden badges, would that make any difference in the depreciation? If this car is dropping in value ONLY because it's wearing certain badges and concidered American...well that's about the dumbest ****e I've heard in a while. The car is what it is no matter what car company/division is selling it. (Not arguing the reply to the last post, but commenting on the situation.)
IF this car was brought over with Holden badges, would that make any difference in the depreciation? If this car is dropping in value ONLY because it's wearing certain badges and concidered American...well that's about the dumbest ****e I've heard in a while. The car is what it is no matter what car company/division is selling it. (Not arguing the reply to the last post, but commenting on the situation.)
In my opinion the only people who even know the GTO is made in Australia are the car buffs. Many potential buyers, who ultimately predict the resale value, just think of it as another Pontiac. And although we're all crazy about these cars, the build quality, etc. I think the fact still remains the same - supply of these vehicles exceeded the demand (in 2004 more so than 2005).
Also, any car model regardless of where it's made depreciates the most in the first year, or less for that matter.
Also, any car model regardless of where it's made depreciates the most in the first year, or less for that matter.
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Those prices don't seem low at all. Considering what most of us 04 owners paid for our new cars last year particularly in late summer and fall, they may actually be a bit high/optimistic.
I suspect that the level of depreciation would be about the same if the car was branded as a Holden. It might even be worse, since the car-buying public would be unfamiliar with it.GTOJon said:
An example from another era were the Merkur cars from the 1980s. For those who do not remember them, Ford imported some Ford of Europe vehicles, rebadged them under the name Merkur (Merkur Scorpio and Merkur XR4ti). They were rather pricey, and their depreciation was fast and furious, so to speak.
It's all about reputation, regardless of whether the reputation is well-earned.
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Could I trouble you to please post a link to the two above mentioned '05 GTOs? Thanks!!h777 said:
Damn!! just found the Carmax '05. It must be mislisted becaouse they are showing '04s with more miles for the same price. http://www.carmax.com/dyn/searcheng...+&ModelLabel=GTO&Price=5&PriceLabel=Any+Price
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