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How Low Can They Go?

8127 Views 72 Replies 23 Participants Last post by  REBEL
Browsing through E-Bay "SSR's for Sale" today and there are lots and lots of 2003, 2004, and 2005's for sale. A Chevy dealer (Ryan Motors) in Buffalo, Mn. has a brand spanking new 2004, Silver, listed at $32,500 Buy it Now Price. Dealer says he also has other colors for sale. This is about the best price I've seen thusfar for a showroom new SSR. Several 2005's listed for sale at invoice. This sure is a different market than it was a year ago when I was shopping for a new SSR. I'm really glad that I intend to keep my 2003 for a long, long time because I'd hate to take a $20,000 hit in just one year. That represents a 46% first yr. depreciation rate which is really high when compared to other new vehicles. Potential SSR buyers are really in a great position in this market place. Looks like GM over produced and over priced the 2003 and 2004 models. Hope they learned something from this and will take steps to prevent it from reoccurring.
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REALITY CHECK: Market is in the LOW $30k's


The market for the first series (03/04) of new SSr's is definitely in the low $30k's for vehicles with 1SB, compartment trim, mats, boards, et cetera (i.e. MSRP of in the order of $45,970 or more). There are a number of dealers with 4 or more 04's, with equipment as above or better that are, apparently, willing to sell for $31-$32 thousand with low or no admin fees and are looking only for additions that are incremental cash costs (i.e. license fees, transit stickers et cetrera).

The market for the new and improved 05 SSr is very weak in most, if not all, regions as demonstrated by the fact the Craft Center is shut down for a number of weeks this quarter for inventory adjustment and prices on eBay for new 05's are well below MSRP and may even be at or near dealer cost levels.

There is little doubt that the low $30's price is a result of the high inventory levels (rumored to be in the order of 8 thousand units) of unsold units or about 40% of the total made, the collapse of the used market for our trucks, and the severe discounting of even the new 05 (take the new 05 market pricing and take 30% off of that to derive the probable price for a new similarly equiped 04)... and don't forget the dealer has $7500 in his pocket plus you likely can get a further $1500 fideltity discount and, if the dealer is really motivated, a further $3-5 thousand off dead cost as these people now understand that as time goes by the value of the 03/04 SSr is very likely to decline further due to both the price being too high at the outset, surprisingly weak used market (the word "dead" is what I hear) and the huge overhang of new product in the field.

SO, if you have any plans to buy, now may be the time while prices and selection are good. Pricing may ease further but then you may not get what you want and you should only expect to save a further $2,500 over the next 3-4 months (my forecast)


:party
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Market thoughts

The spread between the 04 and 05 pricing is more like $43-31.5k or ~=$11.5k. :nono , not $6 or 7K.

This is about what you'd expect too as you have to take the transaction value on the 05, adjust for technical changes (likely in the order of $3k) less about 15-20% for a model year depreciation allowance you do get the 04 transaction prices of $31.5k or so.

In my view, this means the 04's are now a decent buy unless you really need the extra ponies to pull your wagon.... or just have to have a manual... or aqua blur....

:seeya
Back to GM Maybe... Auction No Way.... market is $30 or so

Really doubt your dealer can return to GM and there is no way a wholesale auction will bring what the eBay pricing is if only because the guys going to the auction see eBay as part of the retail market....

Further, the dealer selling the SSr today is both reputable and knowledgable (and very close to the Lansing Craft Center) such that I would suggest he knows when to hit the bid and when to pass... he is selling at these prices because that is what it takes to move the iron...

The market is what it is and today that is hardly $30k for a well equiiped NEW SSr
.


:jester
Note that these prices are over a month old (16 Dec 04). At this time the eBay price was north of $37k and the GM rebate to dealers of $7500 yet to be annouced (albeit, there was 0/72). The auction wholesale price has tended to be $3.5-5.0 below the eBay.

Pricing is very dynamic and it is imperative to get as much relevant information as possible if you are buying today


:seeya
DavidN said:
Here are the last seven SSRs to go through the Phoenix auction awhile back. These are 2004 models with about 30 miles on them,,,, MSO titles - new. 2005's I've seen go around 35K.

For a description of option codes, look below.
Total number of vehicles found - 7



2004 CHEVROLET, SSR, AUTO, 2 DR, 2DR TRUCK, 5.3L V8
Options: ABS4 AC CC PST PW AF1CD PS6 RPwDLks TIRESas VntDisc


VIN.......... Odometer Color Location Sale Type ...SaleDate .........Sale Amount

1GCES14P44 28 M SILVER Phoenix GM Factory Sale 12/16/2004 $ 31,300


1GCES14P44 34 M SILVER Phoenix GM Factory Sale 12/16/2004 $ 30,900


1GCES14P34 28 M SILVER Phoenix GM Factory Sale 12/16/2004 $ 31,200


1GCES14P24 17 M SILVER Phoenix GM Factory Sale 12/16/2004 $ 31,500


1GCES14P74 30 M SILVER Phoenix GM Factory Sale 12/16/2004 $ 30,900


1GCES14P64 8,621 M RED Phoenix GM Factory Sale 12/16/2004 $ 32,800


1GCES14P74 20 M SILVER Phoenix GM Factory Sale 12/16/2004 $ 31,000
eBay $30,600 reference

SSRGUY said:
Really doubt your dealer can return to GM and there is no way a wholesale auction will bring what the eBay pricing is if only because the guys going to the auction see eBay as part of the retail market....

Further, the dealer selling the SSr today is both reputable and knowledgable (and very close to the Lansing Craft Center) such that I would suggest he knows when to hit the bid and when to pass... he is selling at these prices because that is what it takes to move the iron...

The market is what it is and today that is hardly $30k for a well equiiped NEW SSr
.


:jester
For those who asked via email et cetera.... the eBay reference for this sale is
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=4519331670&sspagename=ADME:B:WN:MT:1
RPH-56 said:
SSR Guy
here is a quote from Mike Richmond for a new 05: (see the classified ads)

I have one brand new 2005 Ricochet Silver SSr in stock. $1,000.00 Below invoice to a good home. This SSr stickers for $48,185.00. Invoice is $44,956.60. SSRFANATIC.COM members can buy it for $43,956.60, subtract $1,500.00 owner loyalty and you get $42,456.60 plus $40.00 Doc. fee and state fees.
Mike Richmond
GM BuyPower Manager
Annie Rae Chevrolet
[email protected]

The diff between the 05 car above and the 04 I was looking @ $36,000 is $6456.
The 04 had a couple more accessories but not thousands of dollars worth.

The diff in price is enough from me to consider an 04....but I 'd really like the stick and bigger engine. Looks like I wait and hope to get a better deal on the 05.
Would suggest that the pricing you are seeing for the 05 SSr is "competetive" but that the 04 quote is way above what the US market is trading at (i.e. 04's are going for less than $32k BEFORE the affinity discount)
:angel
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