2003 vibe gt worth nothing.......

[robdog]

I paid 20,500 for a loaded new vibe in october 02. Yesterday I went to try to trade it in for another type of vehicle and they said that they would give me 6200 dollars. It has 38,000 miles and is in perfect condition. They printed out some kelly blue book stuff and i noticed that they would only consider it in fair condition because the mileage is over the recommended 12000 per year. this car looks as good as the day i got it besided some typical stone chips up front. The vibe has crappy resale value. If anyone were to ask me advice about the vibe i would say don't get one unless you are going to drive it till it won't drive anymore because resale is total crap.....just to let you know how little all of our vehicles are worth

[AKLGT]

um... hate to break this shocking news, but just about any DOMESTIC vehicle's resale value is going to be crap. w/ all the dealer incentives, rebates, and special financing, it lowers the resale value of our cars. why would someone pay top dollar for a USED vibe when they can get a new one for only $3K more due to the rebates and/or special financing? i know my vibe's worth maybe $14-16K and i probably still owe like $18-19K on it. and besides, NEVER trade your vehicle into the dealer unless you have no other choice. sell it yourself. the dealer will give you $6200 for it and turn around and sell it for like $12K. that's where they make their money, not on NEW cars, but on the USED ones. besides, look up the NADA blue book value, not kelly blue book. NADA is what the dealers and banks use to estimate approximate value. use what they use, not some "consumer" estimate. http://www.nada.com

[jake75]

Thje blue book mileage adjustment is separate from the condition adjustment. Most would not consider 38,000 to be high mileage. Unfortumately you bought an '02 in Oct '04 so it was a year old car from the gitgo. Now the 05's are out so it is 3 model years old - but 38,000 miles is in range of expected miles on a 3 year old car.

[Mike-NC]

I agree-Kelley Blue Book is worthless. It is a book written by car dealers to low-ball trade-ins. It really does not represent the value of any brand or make.NADA is the real deal.

[ALi3N]

i fiananced 21k on my '03 GT and NADA says it is worth 16.6k with 21k miles on it. Mine has all the '03 trimmings and extras. So at this point i am about 4k upside down on it.Mono Abyss GTNavigation17" WheelsPower GroupSecurity Group...pretty much everything but Moon & Tunes, you can't get it AND the Nav.

[NovaResource2]

I got $13,695 for mine. Silver auto base with 12,600 miles, aftermarket wheels, SRI intake and Ram Air hood. See it here:http://www.burlingtonautopark....ngtonOr here:http://www.novaresource.org/vibe/

[jake75]

Quote, originally posted by Mike-NC »I agree-Kelley Blue Book is worthless. It is a book written by car dealers to low-ball trade-ins. It really does not represent the value of any brand or make.NADA is the real deal. My experience is that dealers tell me the trade-in values in KBB are too high - they claim to use something called a "Black Book" which they say reflects actual auction values.

[AKLGT]

well, i can tell you from my experience working in banking, that the bank looks at the NADA value. they will only give you money for the NADA blue book ONLY. anything other than that is inaccurate. having to "book" out vehicles for value and repossess them, resell them, etc i realized very early on, that the kelly blue book, black book and whatever else the dealers tell you is all a bunch of BS. IF you have a good salesperson or finance guy at a dealership, they would tell you the same. anything other than that, they are lying. when i moved from consumer loan collections to consumer lending, on used cars, we'd only loan 80% of the NADA retail value. we required 20% down payment or the equivalent value. if a new vehicle, then up to 20% above the MSRP from the factory pricing list. if you want to get an idea of consumer pricing, go with what the bank and insurance co says your car is worth, not what the dealership says it is. they will always give you LESS than trade-in.

[MadBill]

Gee, wonder what happens if you ask to see the "Black Book" when they're trying to sell you the car?

[Fialchar]

That's not right..I had a 2003 Vibe with over 64,000 miles on it and Insurance gave me $11,533 for it.I don't think they gave enough though, since I had $3000-$4000 in a sound sytem, $1600 rims, and several performance parts, but it was still twice what they offered you. I'd STRONGLY reccomend that you do NOT take their price..

[cohocarl]

I drove home my new 03 base 5-speed, power pkg. on 8/27/02. After $1,000 rebate and GM employee price, it was $14,500. A couple months ago, I put it up on ebay with a reserve of $9500, but high bid was only $8,100. Did end up selling to the high bidder for $9500. I'm glad I had made more than the minimum payments every month because I netted out $1200 after my payoff. Previous to that, I had it in the local paper for a week at $10,500 without even one call. 31,000 miles, aftermarket wheels, brand new 225/50/16 tires, perfect condition. With the rebates/incentives getting better every quarter, everyone is buying new cars, and there's a TON of used vehicles out there for sale.

[ToolGuy]

Hey another Corvette owner here!

[cspmeinkc]

A car is one of the worst investments.

[cohocarl]

Quote, originally posted by MiVibe-ToolGuy »Hey another Corvette owner here!

[Fialchar]

Now that.. is a work of art. Beautiful engine ^^

[jmf2]

I made out ok with my insurance company. They paid 14,700 on my 03 vibe, and I had paid 15,300 16 months before. It helped that my son totaled it in the northeast (middle of nowhere) corner of montana, and geico looked at the pictures we sent in rather than send an adjuster out there. They paid it off at the highest options level they told me! And thank God we had gap insurance too. Thats paying off the other 6k we owed.

[Vibewatcher]

Quote, originally posted by robdog » The vibe has crappy resale value. If anyone were to ask me advice about the vibe i would say don't get one unless you are going to drive it till it won't drive anymore because resale is total crap.....just to let you know how little all of our vehicles are worthI think your brush is a little wide. Your Vibe has a crappy resale value at one non Pontiac dealership. And it is not uncommon to get a low offer which switching brands.And did you check out Kelly Blue Book? "Fair" is a condition factor, should have nothing to do with mileage. They ask mileage as a seperate question so it is there. "Fair" means that there are mechanical or cosmetic defects, the paint, body, or interior need professional work before selling. The Tires need to be replaced. There may even be rust damage but it is repairable. Even in "fair", Trade In Value I got was $7600 (Moon&Tunes, Wheels, Power). In "Excellent" condition it was $9600. Dealer was just low balling you. If have read where sometimes CarMax stores will buy cars, perhaps that is the way to go. Or just try another dealer.GT's now account for 2% of Vibe sales. If no one wants a new one, then chances are no one will want a used one. And you might be able to buy a new '04 for under $17,000 (wheels, power, moon&tunes with all rebates that are easily available) if you could find one.

[jake75]

Quote, originally posted by cohocarl » I drove home my new 03 base 5-speed, power pkg. on 8/27/02. After $1,000 rebate and GM employee price, it was $14,500. A couple months ago, I put it up on ebay with a reserve of $9500, but high bid was only $8,100. Did end up selling to the high bidder for $9500. I'm glad I had made more than the minimum payments every month because I netted out $1200 after my payoff. Previous to that, I had it in the local paper for a week at $10,500 without even one call. 31,000 miles, aftermarket wheels, brand new 225/50/16 tires, perfect condition. 22 months for $5,000, that's $227 a month to drive a new car 31,000 miles. That's 16 cents a mile depreciation. Does not seem out of line. Probably got a very low return on the aftermarket wheels and new tires unless the old tires were bald.

[jake75]

Quote, originally posted by MadBill »Gee, wonder what happens if you ask to see the "Black Book" when they're trying to sell you the car? Why didn't I think of that - would be a great ploy foir anyone buying a used car from a dealer - and would open the potential buyer's eyes as to how much that used car depreciates the moment he/she drives it off the lot.

[jake75]

Quote, originally posted by jmf2 »I made out ok with my insurance company. They paid 14,700 on my 03 vibe, and I had paid 15,300 16 months before. It helped that my son totaled it in the northeast (middle of nowhere) corner of montana, and geico looked at the pictures we sent in rather than send an adjuster out there. They paid it off at the highest options level they told me! And thank God we had gap insurance too. Thats paying off the other 6k we owed.I be confused. How can you buy a car for $15,300, and get an insurance settlement 16 months later for $14,700, and still be $6,000 under water.

[jake75]

Quote, originally posted by cspmeinkc »A car is one of the worst investments.Depends on what you consider is a "return on investment", A trip to Hawaii, or a filet mignon dinenr at Morton's don't return "cash" but they may return sufficient satisfaction to be considered a good investment. IMO a new car bought at a fair price is often a good investment. Now children, now were talking about a questionable "investment", unless and until they provide you with some grandchildren!

[johnnyride]

The trick to trading in a Vibe is trading it in on another Vibe. I've traded twice so far. In May 2003 I traded my FWD Neptune Mono for an AWD Two Tone with the almost same options and paid $5250 (that includes a $2000 rebate). Neptune had 18000 miles on it The only option difference was no 16" wheels but I negotiated the dealer to take my wheels off Neptune and put on the Frosty AWD.. 2 weeks ago I traded the AWD Two Tone Frosty (21K miles) for an AWD Mono Salsa, same options plus 6 Disc, for a trade difference of $5700 (that includes a $3000 rebate). I did better with the Neptune trade, but I always wanted a Salsa, and so did my wife, and my wife liked the new instrument chuster. Confused yet? Basically, I've had 3 new Vibes since September of 2002. Yes, I'm a little crazy.

[jake75]

You're not crazy - you just made a logical (to you) decision as to how you wanted to spend your money. $5,000 for lap dances, now that's (IMO) crazy! But if someone ENJOYS lap dances that much, and it's THEIR money, who am I to complain!

[jmf2]

Quote, originally posted by jake75 »I be confused. How can you buy a car for $15,300, and get an insurance settlement 16 months later for $14,700, and still be $6,000 under water. Because when we bought our first vibe, we were upside down on a loan for a crappy kia sportage we had bought 8 months earlier. FYI: don't buy kias!

[ALi3N]

Ok, i feel i should add something to this thread... It is a well known fact that most new vehicles (especially those sold by US makes) lose a large portion of their initial value the minute the dealer hands you the keys. This is not a surprising stab-you-in-the-back turn of events for a new car owner, it is a simple fact of automotive politics (if you could call it that) that when you purchase a new car you get rope-a-dope'd a little and have to keep the vehicle for a while to see any returned monetary investment. I knew this when i signed the paperwork for my new Vibe, and i am still happy with MY rope-a-dope. If buying a new car makes you guys so sour, maybe you should invest in a good used car. In a used car someone else has already eaten the initial depriciation.

[jake75]

Unfortunaltely, it is an apparently little known fact that most used vehicles bought at a dealer or used car lot also lose a large portion of their value the minute the dealer/lot owner hands you the keys. IMO the dopes that get roped the worst are those that overpay for a used car.

[silver_vibe]

Why is everyone glossing over the fact that the dealer lied about the kbb trade in value in the first place? Even if we take their b.s. that the car is rated "fair" because of the mileage (and Jake75 is correct - mileage and condition are two separate ratings), they should have offered over $8,000. What orifice did they pull $6,200 from? If the car is otherwise perfect, when you adjust for the high mileage they should have offered over $10,000 for the trade-in (see my attachement)The retail value (which is likely what a used car lot would be asking) on a 38,000 mile loaded Vibe is $14,465. This is still way below the $20,500 that was paid, but 38,000 miles is a lot of miles for a 2003. As a side note: I don’t agree with everyone saying kbb is worthless. They’ve been in business for over 75 years for a reason. You just have to know how to interpret their information. Besides, I live next to a CarMax and my wife and I have sold them 3 cars over the past 5 years. They consistently have given us the kbb trade-in value (less $500 processing fee). I know we could get more selling it on our own, but with CarMax you get the check right away and you don’t have to hassle with test drives, newspaper ads, etc. You can then deposit the check and buy another car someplace else without worrying about getting offered $6,200 instead of $10,000 for your trade.

Attached files

[defcon1]

Quote, originally posted by desert_dweller »I bought mine certified used at a Pontiac dealer for $13972 tax tag and title, with 9100 miles on it. I have a feeling they really raped the guy that traded it in.man you really over paid

[Jakerooni]

Yea I did my reaserch before I bought mine. I knew ahead of time that they deprciate over $10,500 as soon as you drive it off the lot. I accepted that fact. Because I probably will be driving mine till it drops dead.

[scherry2]

Quote, originally posted by jake75 » Now children, now were talking about a questionable "investment", unless and until they provide you with some grandchildren!UPDATE!!!!Now children, now were talking about a questionable "investment", unless and until they provide you with RENT!