I talked with the owner of a Chevrolet dealership that took in two 2004 SSR's for trade-ins over Thanksgiving. One was a yellow, window stickered at $46,900, had 3,500 miles on it, and in perfect condition. The dealer wholesaled it last week for $29,500. he also has a redline line 2004, 5,200 miles, stickered at $44,145 and he wholesaled it to the same buyer for $29,000. This equates to a 37% depreciation in 10 months of ownership! I just didn't think the SSR would lose so much value in such a short period of time. Yeah, I know how much fun they are, and how good looking they are, and how much attention they garner, but this much depreciation is one helluva hit! The market place sets the price of all vehicles and I guess this is what is happening to us now. General Motors says the SSR is a $46,000 vehicle but the buyers are saying something different. They say it is a mid thirties price and the market is verifying it. Yes, I'm still happy with my Redline Red, 2003 SSR, but I can't say that I'm happy with the amount of dollars of depreciation it has incurred. I'll probably get flamed by other owners, and Marc in particular, for blasphemy by voicing this but when I see SSR's going for under $30,000 it shocks me! Who would have thunk it?
2004 SSR's Under $30,000.
1 - 19 of 19 Posts
Joined
·
74 Posts
I do agree with you. I bought my red 2004 SSR in September for right at sticker; now I wish I had waited a few months! I did it to get the 0% interest; had no idea they would drop in price so much.
Joined
·
904 Posts
It is sad, I got my 04 the last of Aug. The guy that sold it said NO NEW ENGINE AND TRANY FOR THE 05's just more money, I had 600 miles on it when I said just for fun how much on a 05 and he said well you might not like this but $29,0000 to $30 is the best I could do and I would have to talk to the boss even at that, You just can't give the 03 and 04's away, I just gave him $48 plus tax, I will not say what I would like to say or they would kick me out of here and I just got here
Don't feel bad
I actually took the hit. In April of 2004, I actually thanked my salesperson for selling me my 2004 SSR for ONLY sticker and not sticker plus $5,000.
Then, when I traded it in on October 15, 2004 for a 2005 SSR, I only got $29,500 trade-in on it. But, at least I got the 2005 for $150 over invoice.
matjow :reddevil
I actually took the hit. In April of 2004, I actually thanked my salesperson for selling me my 2004 SSR for ONLY sticker and not sticker plus $5,000.
Then, when I traded it in on October 15, 2004 for a 2005 SSR, I only got $29,500 trade-in on it. But, at least I got the 2005 for $150 over invoice.
matjow :reddevil
RedTn.ssr
Can't criticize for you expressing facts. I only purchased about 10 days past and the deal I received would support the fact that the demand has fallen and of course with that the price. Its the first time for me that the price played so heavily on a decision to buy. I seconded guessed myself more than ever before.......but am quite happy with final decision.
Other Rides
2003 G35 Infiniti 2005 Ford Escape Limited
Can't criticize for you expressing facts. I only purchased about 10 days past and the deal I received would support the fact that the demand has fallen and of course with that the price. Its the first time for me that the price played so heavily on a decision to buy. I seconded guessed myself more than ever before.......but am quite happy with final decision.
Other Rides
2003 G35 Infiniti 2005 Ford Escape Limited
Joined
·
186 Posts
$$$$$$
Well just thought i would join the rest as most of us jumped at the idea of being the first on the block with a concept car.Well it seems like it cost most of us 10,000 to 20,000 for a few months of whoopiesss lol.Myself paid alot but like they say you only lost all that $$$$$$$ if you sell it so we have two choices keep them or take a bath well i will keep my 20,000 over priced TOY.But thats really not the problem the problem is the price stickers are still mid 40tys to 50tys and the new people that will be taking a plunge to me It's like to bad we can't worn people ahead of time that save and save then finally get what they thought was a dream car and it turns out to be an over priced soaking anyway can't put it in my words either.So what can we do to help the ones before hand? :rant
Well just thought i would join the rest as most of us jumped at the idea of being the first on the block with a concept car.Well it seems like it cost most of us 10,000 to 20,000 for a few months of whoopiesss lol.Myself paid alot but like they say you only lost all that $$$$$$$ if you sell it so we have two choices keep them or take a bath well i will keep my 20,000 over priced TOY.But thats really not the problem the problem is the price stickers are still mid 40tys to 50tys and the new people that will be taking a plunge to me It's like to bad we can't worn people ahead of time that save and save then finally get what they thought was a dream car and it turns out to be an over priced soaking anyway can't put it in my words either.So what can we do to help the ones before hand? :rant
I didn't buy my 2005 SSR hopinig it would retain it's resale value....I didn't buy it as an investment....I bought it to enjoy and to drive something special. I could have bought a vette or some other sports car and been like lots of other people, but chose to be unique.
I love my SSR, drive it everyday, and could care less how much it's resale value is....
I love my SSR, drive it everyday, and could care less how much it's resale value is....
Joined
·
1,742 Posts
Hear, hear ssrbh! My sentiments exactly! You'll only lose money if you sell your 2003 or 2004 today. I plan on keeping mine a LONG time and drive it until the wheels go square.ssrbh said:
Believe me, I feel just as bad as the rest of you. I bought mine in Oct of this year and paid $3K under list, but now I see I could have gotten a better deal. But, I have had $100K worth of fun driving it around, having something that everyone still says "look at that cool truck!"
Mine's a keeper, so the market drop doesn't affect me. And if they stop making it (I hope not) then we will really have a collectors car that is STILL fun to drive!
Joined
·
3,147 Posts
First of all the 29-30K prices are wholesale or trade-in prices. Retail or private party sales are going to be higher. Not that that helps those who are trading them in. Is the sale price of the new vehicle the same with or without the trade? Some dealers manipulate numbers to make things seem better for the buyer but the final "trade difference" will be the same. Shop around before you trade. From what we are seeing on this forum prices do vary greatly.
I did well over the past couple years by buying low and selling high. I wasn't about to pay a ridiculous price for a new SSR, so I shopped around. I wanted the car, I didn't NEED the car. As a result I found a new 2004 for almost 12K under MSRP. The dealer took the first year hit for me. Sure I had to travel 1100 miles to pick up the car but I think the savings was worth it. Anyone out there that is looking, don't be afraid to shop outside your area. The internet has changed the way we shop and compare. Any GM dealer will take care of warranty work if necessary. I was told by the local dealer that I could probably sell mine for a profit here in FL if I wanted to. I plan on keeping it for a long time.
I just got an email from the dealer in Jacksonville. They are offering a 2004 for special internet pricing of $1000.00 under MSRP. What a deal!!!! click here http://chevyavenues.cogginauto.com/...c_type=NT&spec_id=215587&spec_type_back=N&opt
Some of the local dealers still don't want to deal. People are still paying around MSRP for new SSR's.
I did well over the past couple years by buying low and selling high. I wasn't about to pay a ridiculous price for a new SSR, so I shopped around. I wanted the car, I didn't NEED the car. As a result I found a new 2004 for almost 12K under MSRP. The dealer took the first year hit for me. Sure I had to travel 1100 miles to pick up the car but I think the savings was worth it. Anyone out there that is looking, don't be afraid to shop outside your area. The internet has changed the way we shop and compare. Any GM dealer will take care of warranty work if necessary. I was told by the local dealer that I could probably sell mine for a profit here in FL if I wanted to. I plan on keeping it for a long time.
I just got an email from the dealer in Jacksonville. They are offering a 2004 for special internet pricing of $1000.00 under MSRP. What a deal!!!! click here http://chevyavenues.cogginauto.com/...c_type=NT&spec_id=215587&spec_type_back=N&opt
Some of the local dealers still don't want to deal. People are still paying around MSRP for new SSR's.
Joined
·
1,620 Posts
My 03 SSR was traded on 9/8/04 (MSRP $46K) and I received $35K trade in. Resale value is not too much of a concern for those who plan to keep a vehicle a long time, but keep in mind if an accident occurs and your insurance needs to total out the vehicle (not a great outcome) that's when long term owners could (I hope they don't) feel the loss of value.
I knew that the SSR was overpriced when I purchased my 03 SSR in 6/2004, but I too wanted to keep mine for many, many years. The extreme number of problems my particular SSR was having and the absolute worthless support of the local Chevy dealership and GM made the three months of ownership complete hell. That's when resale value had to work itself back into my mind to consider what to do with my SSR. I had to get something that was not in the shop 13 times in three months like mine had been. My daily driver cannot be that problematic.
Between 9/2004 and 12/2004 the 03 SSR has lost another $5K in trade in value. Ouch. I really loved the concept and on its good days, I really enjoyed driving my SSR. I hope to have another SSR (05 or later) but I'll let the market pricing forces kick in a bit more and let some time pass before I make that jump again.
I knew that the SSR was overpriced when I purchased my 03 SSR in 6/2004, but I too wanted to keep mine for many, many years. The extreme number of problems my particular SSR was having and the absolute worthless support of the local Chevy dealership and GM made the three months of ownership complete hell. That's when resale value had to work itself back into my mind to consider what to do with my SSR. I had to get something that was not in the shop 13 times in three months like mine had been. My daily driver cannot be that problematic.
Between 9/2004 and 12/2004 the 03 SSR has lost another $5K in trade in value. Ouch. I really loved the concept and on its good days, I really enjoyed driving my SSR. I hope to have another SSR (05 or later) but I'll let the market pricing forces kick in a bit more and let some time pass before I make that jump again.
Some Perspective
I really want an SSR! I have lusted for this truck since I saw the first concept vehicle. I am a "car" guy, not a "Chevy" guy, so my take is different than some.
Last 4 new cars:
'02 Yellow T Bird. Ordered in June of '01. Best price anywhere at that time was $5K over sticker. That is what I paid. Car arrived Jan '02 and was $50K out the door. Joined the T Bird forum and it is very similar to this forum. Passion for the car, disappointments in what Ford could have done, etc. I sold the car in May of '04 with 13K miles for $32k. Lucky to get that as dealer still had a new yellow '02 on eBay for "buy it now" price of $31K. Loss was 38%
'01 PT Cruiser, 4th one in Calif. Dealer's were not even taking orders and they were being sold at $10K over on eBay. I paid $26k and went to Arizona to pick it up. Sticker was $23.9K. Sold it when T Bird came in, 18 months, 16K miles for $16.5K. Loss was 36.5%.
'00 Toyota Tundra, $1k under sticker at $25K out the door. Truck was really too big for what I needed, sold it in 8 months with 9K miles for $21K. Loss was 16%.
'98 Porsche Boxster, bought at sticker, $44K out the door. Owned it 9 months and garage was overcrowded, sold with 3K miles for $42K. Loss of 4.5%.
My Point? As a lot of you have stated if you love it, or you are going to keep it forever, doesn't matter. There were a lot of people who bought T Birds with the wrong expectations-limited production, surely to become a classic and worth a lot of money as soon as the production cycle ended. Now their 2 year old classics are worth 50% of what some paid.
Enjoy your trucks, forget about the rest of it......happens with all vehicles.
I really want an SSR! I have lusted for this truck since I saw the first concept vehicle. I am a "car" guy, not a "Chevy" guy, so my take is different than some.
Last 4 new cars:
'02 Yellow T Bird. Ordered in June of '01. Best price anywhere at that time was $5K over sticker. That is what I paid. Car arrived Jan '02 and was $50K out the door. Joined the T Bird forum and it is very similar to this forum. Passion for the car, disappointments in what Ford could have done, etc. I sold the car in May of '04 with 13K miles for $32k. Lucky to get that as dealer still had a new yellow '02 on eBay for "buy it now" price of $31K. Loss was 38%
'01 PT Cruiser, 4th one in Calif. Dealer's were not even taking orders and they were being sold at $10K over on eBay. I paid $26k and went to Arizona to pick it up. Sticker was $23.9K. Sold it when T Bird came in, 18 months, 16K miles for $16.5K. Loss was 36.5%.
'00 Toyota Tundra, $1k under sticker at $25K out the door. Truck was really too big for what I needed, sold it in 8 months with 9K miles for $21K. Loss was 16%.
'98 Porsche Boxster, bought at sticker, $44K out the door. Owned it 9 months and garage was overcrowded, sold with 3K miles for $42K. Loss of 4.5%.
My Point? As a lot of you have stated if you love it, or you are going to keep it forever, doesn't matter. There were a lot of people who bought T Birds with the wrong expectations-limited production, surely to become a classic and worth a lot of money as soon as the production cycle ended. Now their 2 year old classics are worth 50% of what some paid.
Enjoy your trucks, forget about the rest of it......happens with all vehicles.
Joined
·
186 Posts
So right Greyfox
Yes i think Greyfox hit the nail on the head for this subject lets take our Great minds to another chapter in the SSR Forum Happy Holidays to Everyone @ Family.Doug. :thumbs
Yes i think Greyfox hit the nail on the head for this subject lets take our Great minds to another chapter in the SSR Forum Happy Holidays to Everyone @ Family.Doug. :thumbs
HI RedTN.SSR,RedTn.SSR said:
You might be surprised to know I do agree with many of your points. I too feel bad about the depressed markets for our SSRs. However, already stated by myself else where and others on here, those prices we are seeing are mainly trade-ins and wholesale prices. Customarily this time of the year you will usually see a very weak trade-in period (fall heading into winter) especially with our specialty and fair weather vehicles. It is even more disheartening right now because of the dreadfully depressed markets of late.
Please know that I try to encourage everyone on our forum to write precisely how they feel about any given topic. Comments I may make on here are never intended to be directed at anyone on a personal level, only to share a counter point or two.
I look forward to many more of your thoughts... :flag
Marc, I thought you would never respond to my latest post. That was the reason I specifically mentioned your name in it. Had to rattle your cage and make certain that the lofty moderator status hadn't gone to your head. You and I have always managed to disagree on some matters without either of us taking it personal. Congratulations on becoming our moderator. I think they made a great choice and you will make a good one. Just don't be surprised when I try to get you back to reality when I feel that the General has pumped a bit too much Corporate BS into you! This is a great site for all SSR owners and I look forward to many years of active participation. Even when my SSR has depreciated down to where it's only worth only a couple hundred dollars. Which appears, at the rate it's going, won't be too long! (That was meant to be funny so no flames please). Keep up the good work.
Happy to hear!
I am truly "pleased" you are an active member on our great site here. I would lose something good if I didn’t have you to keep an "eye" on me. I want to share with you one of the many things I have learned the hard way over the years “If you don’t have someone that will give you an opposing or contrasting view... you can end up going in the wrong direction and not even know it.”
PS. Thank you for your support ... my SSRfanatic friend!
:flag
HI RedTn.SSR,RedTn.SSR said:
I am truly "pleased" you are an active member on our great site here. I would lose something good if I didn’t have you to keep an "eye" on me. I want to share with you one of the many things I have learned the hard way over the years “If you don’t have someone that will give you an opposing or contrasting view... you can end up going in the wrong direction and not even know it.”
PS. Thank you for your support ... my SSRfanatic friend!
:flag
1 - 19 of 19 Posts
Join the discussion
Join now to ask and comment!