Dealer Rant!
Thread Starter
Racer
Joined: Aug 2002
Posts: 402
Likes: 0
From: Central IL
Dealer Rant!
Last week I found a dealer that had a left over new '04 Z06 in stock. I called beforehand and got a rough estimate on the price. They said $44,400 over the phone, which is about $9,000 under sticker. Personally I thought that price was about where it should be. The invoice is $47,000 and GM has a $3,000 dealer incentive on remaining stock '04 models.
After driving 75 miles to look at the car the price went to $47,900 and they offered me $10,000 in trade for my car. My car is a '97 with 34,000 miles, chrome 2000 wheels and brand new tires. The car has one small chip, no scratches at all, no seat wear and about 100 coats of Zaino
The guy appraising my car at the dealer even said that he couldn't beleive that it was a '97. Anyway, I was so insulted that I just got up and walked out. The salesman called me the next day, as they always do, and I hung up on him.
I regret to say that if these cars do not hold their resale or trade value any better than this, I will never buy another one. I realize that it is an eight year old car, but $10,000!!! My plan now is to sell my car outright and buy a Porsche Cayman when they are released next spring.
After driving 75 miles to look at the car the price went to $47,900 and they offered me $10,000 in trade for my car. My car is a '97 with 34,000 miles, chrome 2000 wheels and brand new tires. The car has one small chip, no scratches at all, no seat wear and about 100 coats of Zaino
The guy appraising my car at the dealer even said that he couldn't beleive that it was a '97. Anyway, I was so insulted that I just got up and walked out. The salesman called me the next day, as they always do, and I hung up on him.I regret to say that if these cars do not hold their resale or trade value any better than this, I will never buy another one. I realize that it is an eight year old car, but $10,000!!! My plan now is to sell my car outright and buy a Porsche Cayman when they are released next spring.
Last edited by belair55; Jun 6, 2005 at 01:05 PM.
Pro
Joined: Aug 2001
Posts: 741
Likes: 0
From: Northeast Pa.
Originally Posted by belair55
Last week I found a dealer that had a left over new '04 Z06 in stock. I called beforehand and got a rough estimate on the price. They said $44,400 over the phone, which is about $9,000 under sticker. Personally I thought that price was about where it should be. The invoice is $47,000 and GM has a $3,000 dealer incentive on remaining stock '04 models.
After driving 75 miles to look at the car the price went to $47,900 and they offered me $10,000 in trade for my car. My car is a '97 with 34,000 miles, chrome 2000 wheels and brand new tires. The car has one small chip, no scratches at all, no seat wear and about 100 coats of Zaino The guy appraising my car at the dealer even said that he couldn't beleive that it was a '97. Anyway, I was so insulted that I just got up and walked out. The salesman called me the next day, as they always do, and I hung up on him.
I regret to say that if these cars do not hold their resale or trade value any better than this, I will never buy another one. I realize that it is an eight year old car, but $10,000!!! My plan now is to sell my car outright and buy a Porsche Cayman when they are released next spring.
After driving 75 miles to look at the car the price went to $47,900 and they offered me $10,000 in trade for my car. My car is a '97 with 34,000 miles, chrome 2000 wheels and brand new tires. The car has one small chip, no scratches at all, no seat wear and about 100 coats of Zaino
The guy appraising my car at the dealer even said that he couldn't beleive that it was a '97. Anyway, I was so insulted that I just got up and walked out. The salesman called me the next day, as they always do, and I hung up on him.I regret to say that if these cars do not hold their resale or trade value any better than this, I will never buy another one. I realize that it is an eight year old car, but $10,000!!! My plan now is to sell my car outright and buy a Porsche Cayman when they are released next spring.
Racer
Joined: Apr 2005
Posts: 401
Likes: 0
From: Ogden Utah
You should be able to sell your '97 for over $18K any day of the week. Offering $10K for your car in trade-in is a slap in the face big time. You didn't say it in your post. It is a Corvette, right? 
I stopped playing the trade-in game. As much of a pain as it can be, they'll rip you off for thousands on trade-ins, so I sell my cars. Covettes to me appear to hold their value very well in general.
UT-Driven
I stopped playing the trade-in game. As much of a pain as it can be, they'll rip you off for thousands on trade-ins, so I sell my cars. Covettes to me appear to hold their value very well in general.
UT-Driven
Last edited by UT-Driven; Jun 6, 2005 at 02:52 PM.
Thread Starter
Racer
Joined: Aug 2002
Posts: 402
Likes: 0
From: Central IL
Originally Posted by UT-Driven
You should be able to sell you '97 for over $18K any day of the week. Offering $10K for your car in trade-in is a slap in the face big time. You didn't say it in your post. It is a Corvette, right?
I stopped playing the trade-in game. As much of a pain as it can be, they'll rip you off for thousands on trade-ins, so I sell my cars. Covettes to me appear to hold their value very well in general.
UT-Driven
I stopped playing the trade-in game. As much of a pain as it can be, they'll rip you off for thousands on trade-ins, so I sell my cars. Covettes to me appear to hold their value very well in general.
UT-Driven
that
$18,000 I could deal with, that was actually about what I was expecting. Don't get me wrong if they could make a couple thousand selling mine used, I would have no problem with that. That is why they are in business and I understand that, but the way I see it is they won't loose a dime selling the Z06 for $44,000 and they will sell mine used for $20-22,000 on the lot. There is a big difference between making a $2,000 profit and making a $15,000 profit on my car. I'm just glad to hear from someone else that I am not overreacting about this 
Last edited by belair55; Jun 6, 2005 at 01:30 PM.
Drifting
Joined: Apr 2005
Posts: 1,263
Likes: 0
From: Bealeton Virginia
I like the hang up on him thing. It made the point, but these guys have had all sense of shame and humility completely removed in the back room of the dealership. He just called you an "A" and moved on to the next potential sucker.
Melting Slicks
Joined: Oct 2004
Posts: 2,385
Likes: 160
From: Orlando FL
Can't help but think that the new '04 Z06 might be a rare find with the new Z coming out in a few months. In your shoes, I would have tried to negotiate the Z close to the $45K price without a trade and would not have been too upset by the $10K offer. Used car appraisers have no shame when it comes time to buy (steal) your car....we all know that. I wanted my '04 Corvette CE coupe so bad I was willing to take a hit on my '02 GP 40th Anniv coupe to take advantage of the great discount pricing on the last of the C5's. If I decide to buy another Corvette in the future, it will be outright and I will sell my present '04. If it was a burning desire, hope you are still considering the '04 Z06!! 
Drifting
Joined: Mar 2005
Posts: 1,589
Likes: 1
From: St. Louis MO
St. Jude Donor '06-'07
Wow they were really going to try and work you over good. All dealorships and sales persons are not the same. Ask forum members in your area to help with who to go to for a fair deal. If you liked your 97 you will love the 04 z dont give up on corvette because of one a-hole.
Melting Slicks
Joined: Apr 2005
Posts: 3,469
Likes: 4
I know how you feel, but don't let it bother you too much -- that's just the way they work. I went to look at a brand-new 04 last year at a Washington-DC area dealer, and I had them appriase my absolultey flawless, anally-maintianed, new-tired Audi. They came back and said they judged it's condition as "fair" (on a poor-fair-good-excellent scale) and offered my about half what the KBB value was. I just politely left and then over the next week totally ignored the 10 or so messages the sales guy left on my cell phone. Not even worth my time to deal with those clowns. ;-)
It's really a shame that's how some dealers treat buyers who want to come in there and buy a $45K car. Imagine how they work the common Colbalt/Malibu/Trailblazer buyers. It's no wonder GM has a market share/loyalty problem.
And as someone else replied, not all dealers bad -- there are decent ones out there, too. Ask around and don't let this one experence sour you on Corvettes.
It's really a shame that's how some dealers treat buyers who want to come in there and buy a $45K car. Imagine how they work the common Colbalt/Malibu/Trailblazer buyers. It's no wonder GM has a market share/loyalty problem.
And as someone else replied, not all dealers bad -- there are decent ones out there, too. Ask around and don't let this one experence sour you on Corvettes.
Last edited by rcs128; Jun 6, 2005 at 01:51 PM.
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Team Owner
Joined: Aug 2004
Posts: 24,129
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From: The Beautiful Pacific Northwest
St. Jude Donor '05-'06-'07-'08-'09, '14-'15-'16-'17-'18
I just checked the Kelly Blue book trade-in value (wholesale) for a '97 Vette in excellent condition...$16,250. The retail value showed $22,300.
That dealer was deliberately insulting you with that $10,000 offer. Take your business elsewhere.
That dealer was deliberately insulting you with that $10,000 offer. Take your business elsewhere.
Thread Starter
Racer
Joined: Aug 2002
Posts: 402
Likes: 0
From: Central IL
Originally Posted by Red Racer
I just checked the Kelly Blue book trade-in value (wholesale) for a '97 Vette in excellent condition...$16,250. The retail value showed $22,300.
That dealer was deliberately insulting you with that $10,000 offer. Take your business elsewhere.
That dealer was deliberately insulting you with that $10,000 offer. Take your business elsewhere.
I was not aware of the Blue Book price. Thanks for checking that!
Part of the problem may have been when they started with the usual B.S. of wanting my SS# to run my credit. I told them that I wouldn't be financing it. Maybe they thought that I'd just let them have my check book to write in whatever they saw fit. You guys are all correct, the problem in this case was obviously just with this dealer. I'll hold it against them, not the car in general.
Burning Brakes
Joined: Oct 2003
Posts: 793
Likes: 0
From: IN
Cruise-In VII Veteran
That would be depressing. I was insulted when I got offered 16,000 trade in for my 98 Coupe even though that is close to blue book. The values are dropping, but all we can do is keep ours until values change. You should be able to sell your 97 for 18,000.
Drifting
Joined: Apr 2005
Posts: 1,263
Likes: 0
From: Bealeton Virginia
Originally Posted by belair55
I was not aware of the Blue Book price. Thanks for checking that!
Part of the problem may have been when they started with the usual B.S. of wanting my SS# to run my credit. I told them that I wouldn't be financing it. Maybe they thought that I'd just let them have my check book to write in whatever they saw fit. You guys are all correct, the problem in this case was obviously just with this dealer. I'll hold it against them, not the car in general.
Part of the problem may have been when they started with the usual B.S. of wanting my SS# to run my credit. I told them that I wouldn't be financing it. Maybe they thought that I'd just let them have my check book to write in whatever they saw fit. You guys are all correct, the problem in this case was obviously just with this dealer. I'll hold it against them, not the car in general.
Melting Slicks
Joined: Oct 2004
Posts: 3,293
Likes: 0
From: Big Bear City CA
St. Jude Donor '06-'07-'08-'09
Originally Posted by belair55
Yes it's a Corvette, guess I was so pissed off that I forgot to mention
that $18,000 I could deal with, that was actually about what I was expecting. Don't get me wrong if they could make a couple thousand selling mine used, I would have no problem with that. That is why they are in business and I understand that, but the way I see it is they won't loose a dime selling the Z06 for $44,000 and they will sell mine used for $20-22,000 on the lot. There is a big difference between making a $2,000 profit and making a $15,000 profit on my car. I'm just glad to hear from someone else that I am not overreacting about this
that
$18,000 I could deal with, that was actually about what I was expecting. Don't get me wrong if they could make a couple thousand selling mine used, I would have no problem with that. That is why they are in business and I understand that, but the way I see it is they won't loose a dime selling the Z06 for $44,000 and they will sell mine used for $20-22,000 on the lot. There is a big difference between making a $2,000 profit and making a $15,000 profit on my car. I'm just glad to hear from someone else that I am not overreacting about this 
Melting Slicks
Joined: Jun 2004
Posts: 2,656
Likes: 0
From: Phila PA
I have decided never to buy another GM product after getting treated like crap by two different dealers when I was buying my last two Vettes.
I LOVE my 04 CE Z06 but I will not give GM another penny of my hard earned money.
I LOVE my 04 CE Z06 but I will not give GM another penny of my hard earned money.
Team Owner
Joined: Dec 2003
Posts: 57,408
Likes: 164
From: queensbury ny
pricing
i think that dealers out your way are high!(smoking dope high!!)i talked to one a while ago on a c6,and my 01 at the time had 18k on it and he offered around 20 grand trade!so,he was only 6-7 grand off!now,trade in is not retail,but 10 grand does sound light! 
if you know anybody in the car buissness who goes to auctions and does wholesale stuff,talk to them to see what your car is doing in the real world.oh,and just because you buy a porsche doesn't mean you won't lose money! it's all relative to what you pay.good luck.
if you know anybody in the car buissness who goes to auctions and does wholesale stuff,talk to them to see what your car is doing in the real world.oh,and just because you buy a porsche doesn't mean you won't lose money! it's all relative to what you pay.good luck.
Drifting
Joined: Apr 2005
Posts: 1,263
Likes: 0
From: Bealeton Virginia
Originally Posted by terpesman
I have decided never to buy another GM product after getting treated like crap by two different dealers when I was buying my last two Vettes.
I LOVE my 04 CE Z06 but I will not give GM another penny of my hard earned money.
I LOVE my 04 CE Z06 but I will not give GM another penny of my hard earned money.
Melting Slicks
Joined: Jun 2004
Posts: 2,656
Likes: 0
From: Phila PA
Originally Posted by JLA
GM dealers do not have the market on being A Holes. All dealers participate equally.
I can honestly say that buying my Lexus RX330 was the easiest, least stressful car buying experience I have ever had. Now, all they need to do is get this 500 hp beast on the road!
Last edited by terpesman; Jun 6, 2005 at 03:50 PM.
Instructor
Joined: Mar 2005
Posts: 200
Likes: 0
Originally Posted by terpesman
I recieved EXCELLENT service when buying my Lexus and Porsche SUV's. They may be a little condescending (Porsche) but they know their stuff and both the Lexus and Porsche service departments are top notch. No BS.
I can honestly say that buying my Lexus RX330 was the easiest, least stressful car buying experience I have ever had. Now, all they need to do is get this 500 hp beast on the road!
I can honestly say that buying my Lexus RX330 was the easiest, least stressful car buying experience I have ever had. Now, all they need to do is get this 500 hp beast on the road!
Instructor
Joined: Jun 2004
Posts: 244
Likes: 0
From: Temecula Ca
ANY time you want the dealer to take a trade in be prepaired to bend over and grab your ankles. It generally does not matter how nice your car is or what make or model it is, they are not going to even come close to what you will get selling it yourself. 
It's even worse if they are already discounting what you want to buy. Be smart and sell the car youself either before or after you buy what you want.
You might have to wait longer but you will will wind up with a few thousand more.
It's even worse if they are already discounting what you want to buy. Be smart and sell the car youself either before or after you buy what you want.
You might have to wait longer but you will will wind up with a few thousand more.