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Hi everyone. I just bought my Ridgeline today. I got screwed on my trade (suprise) and the dealer told me that because of all the employee discounts and 0% deals, the used car market (especially the big 3) is dead. I got the same line from another dealer I went to a couple of days ago. Do you think this is legit or is this just the current scam?
 

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Sorry to hear about your misfortune. I would certainly think that the way the big 3 are giving away their turds that it would devalue everyone's vehicle who has already purchased one pre-deal. My wife and I were just laughing about this last evening watching TV we saw 2 of the big 3 commercials stating that the deal is still available. This after they did their big "...Hurry in, the deals end August first...!" Now it's "but not for long." What a joke. I feel bad for a friend of my because he a)purchased a brand new F150 and b) he purchased it literally days before this whole thing started. Can you say screwed?! How will they be able to justify selling them at the higher price after this??
 

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We've been taking our cars to Carmax to get their buy price prior to trade in. We had two GM products - a Tahoe and a Grand Prix. We were thinking of getting rid of the Tahoe (2001 LT) last August and got a buy price of $19,000. When we actually traded it in (in November) for our Odyssey, Carmax's buy price had dropped to $15,000! It lost $4,000 in just 3 months! I'd hate to know what it's worth now.

GM cars are worth NOTHING at trade in. Fortunately, I was able to buy at employee prices long before they offered them to the general public so I didn't take as big a hit as some.

However, I think it speaks for itself that I've been able to get the GM Employee pricing for years now, and we now have two Hondas!
 

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http://online.wsj.com/article/0,,SB112372435174310517,00.html?mod=todays_us_personal_journal

Hope that link works. I was just reading an article in the Wall Street Journal talking about this problem. Resale and the oversupply of used cars.
I think some dealers take it to extremes on trade-ins, but they are telling the truth.
I remember when Ford had that Firestone tire problem on the Explorer. My trade in value dropped 6000 dollars in 2 months. It was ugly.

That being said, sometimes just waiting a few months can help. I got rid of my Sports-Trac in May. The price had only fallen 1000 dollars in 9 months from my last quote. At the time used cars and trucks were getting better prices. It just comes and goes sometimes.
 

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Yeah it was like this when the first wave of 0% apr came out.

The good news is, in a few years, you can buy a nice used daily beater car for very cheap.
 

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It is true. Economy 101 taught us Supply and Demand as well as Benefit/Cost Ratio.

Consumer Reports just had a article through MSN.com (I believe) that basically said even if you get a good deal on a "bad" car, you still have a "bad" car.

What most people don't realize is they are saving money on the upfront cost of the car, but where do you think the dealers and manufactures will make up their "lost" money? Down the roads in repairs. I have heard that dealerships make the most money on repairs and not on the initail sale of the vehicle.

Every time I see Lee Iacocca on the TV tauting how GM won awards in initial quality, I just have to crack up a little bit. Great, my vehicle has good quality right off the assembly line!! However 10,000 miles later it is rattling louder than a Bingo number ball tumbler.

When you buy quality, you only cry once!
 
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Ruffles said:
Hi everyone. I just bought my Ridgeline today. I got screwed on my trade (suprise) and the dealer told me that because of all the employee discounts and 0% deals, the used car market (especially the big 3) is dead. I got the same line from another dealer I went to a couple of days ago. Do you think this is legit or is this just the current scam?
Congratulations Ruffles and welcome to the ROC family. We're glad you're here. Enjoy the ride.
I agree with Blu ( usually we disagree cuz he thinks blue is a better color than silver). You're done with the deal now enjoy your truck. Love is in the air baby!! :D
 

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oridgenL said:
When you buy quality, you only cry once!
That is beautiful, I will be using it here at work in about 1 minute :D[/QUOTE]

me too..........excellent quote nevadagarth.........that will be my new philosophy :cool:
 

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Hey, if this truck has the power to help me forget about paying sticker 5 months ago, it should have no trouble helping you forget your bad trade value. Let's face it, taking less for a trade is a whole lot easier than trying to sell privately. We all know how much you're going to enjoy your new Ridgeline. Grin and have fun :) :)
 

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Officially in the club

I just closed the deal via phone on a new Ridgeline RTL.

Got her at invoice + 515 destination, and several accessories at HandA prices + 40% for installation.

Total on the RTL without sunroof and XM, (which I really wanted but bowed to the lovely wifey on) looked like this:

RTL without XM or moonroof
28,842 invoice
515 destination
300 Grille
470 running boards
50 in bed trunk cargo net
553 Body side protectors
66 Rear Splash Guards
150 underseat storage system

$30,946 Total

How'd I do?

And don't hesitate to tell me I got screwed, I'm a big boy.



:) :D
 

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515/31000 = .017.

plastic door guards that I see on the cheapest cars cost almost 2% of the truck price.

It still will be the best light truck build for years will make it that easy to forget
 

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You can rest easy "sort of". I happen to manage a Used Car inventory for a large dealer group. The used car market has taken a beating after all the trades from the employee pricing, they were telling the truth. (Sorry)
 

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earthgolf said:
However, I think it speaks for itself that I've been able to get the GM Employee pricing for years now, and we now have two Hondas!
Same here! (though they're both new this year). :D
 

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Ruffles said:
Hi everyone. I just bought my Ridgeline today. I got screwed on my trade (suprise) and the dealer told me that because of all the employee discounts and 0% deals, the used car market (especially the big 3) is dead. I got the same line from another dealer I went to a couple of days ago. Do you think this is legit or is this just the current scam?
Sounds about right to me. I didn't even think of what the flood of pre 05 GM vehicles would be worth with GM trying to push the 05s off the lots with employee pricing and rebates on top of that. There has to be a flood of them out there now. I'm not sure which would be the greater value at the moment: A pre 05 GM vehicle or a bucket of sand. I'm leaning toward the bucket of sand. :D

This has got to be devastating to the used car market with alot of angry pre 05 GM owners realizing they've lost thousands more as they're trying to sell their 03 GM vehicle. Does this really build brand loyalty, I wonder.
 

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Discussion Starter #18
I wondered why foreign auto makers haven't jumped on the discount bandwagon but I guess they don't have to. The can make a lot of money now on peoples depriciated trades. Kelly blue book put my Ranger at $7400. I ended up taking $4700 for it. I'm sure the market is down but its not down THAT much.

I could have sold it myself but I didn't want the hassel.
 

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Re: Officially in the club

Embo_9 said:
I just closed the deal via phone on a new Ridgeline RTL.

Got her at invoice + 515 destination, and several accessories at HandA prices + 40% for installation.

Total on the RTL without sunroof and XM, (which I really wanted but bowed to the lovely wifey on) looked like this:

RTL without XM or moonroof
28,842 invoice
515 destination
300 Grille
470 running boards
50 in bed trunk cargo net
553 Body side protectors
66 Rear Splash Guards
150 underseat storage system

$30,946 Total

How'd I do?

And don't hesitate to tell me I got screwed, I'm a big boy.



:) :D
Embo_9, Do they charge 10% sales tax in Kansas City like they do in California? It would be $34,040 Total here in our state. I got our's for 30,175 out the door.
 

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arteegee said:
The opportunistic customers gained cannot be worth the loyal customers alienated. :rolleyes:
In the tech business, this is known as "eating your young", and it is a recipe for disaster. It is the last stab before your product becomes a commodity. That is very bad news for the US economy.
 
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