anyone want a used 08?

I m trying to get out of my 08 LTZ for a 08 Z06 and can t seem to make the trade work at the dealer. I guess the used market is also hurt by the lack of new car sales. It has 5-6K miles and is mint. You can see I ve been here for a while too. Car was switched to Mobil One Synthetic oil. It is a lease .Interested persons can contact me best at e mail/ cerbomark@frontiernet.net.
http://i3.photobucket.com/albums/y71/cerbomark/IMG_0022.jpg

post where you live to help with the sale

what was the dealer offering you for it...?

Located in the upstate NY area. Never got an offer from the dealer.

Located in the upstate NY area. Never got an offer from the dealer.

If you were already working a trade...there had to be some kind of a figure in relation to the Malibu, in some way. Or how would "can't seem to make the trade work at the dealer"?;)

As Diezel found recently trading his '08 LTZ with almost identical mileage, the values have sagged but eventually ended up with (don't want to do this for you Diezel, but I remember it) $18.2k:

http://www.chevymalibuforum.com/forums/showthread.php?t=1491

Otherwise, sheesh, a Z06...

Put it on your local Craigslist

You know, if GM says its cars are as good as other brands, why don't they start a program that has a guarenteed trade value?

$18k for roughly a $30k car after one year is ridiculous.

Overproduction, high discounts upfront lead to bad resale.

It's a viscous cycle that GM got itself into and one reason why people stopped buying from them.

Sad, but true, to get your money out of a GM car, you need to hold it for about 7 years.

You know, if GM says its cars are as good as other brands, why don't they start a program that has a guarenteed trade value?

$18k for roughly a $30k car after one year is ridiculous.

I do not believe it is. I traded in my 07 Accord this summer. It had 18-19 thousand of miles on it. The trade in was 17 grand, and the car was 30 new a year prior. Of course, we're talking canadian currency and prices, but it's not that far off. Also, the economy was stronger than so presumably it was not as much of a buyers market back then.

I believe the depreciation difference becomes apparent perhaps somewhere at 2 year mark. But this drop you're talking about seems to be a regular difference between a new and used trade in pirces, which is always tough even for Honda that is about a slowest depreciating make.

What guaranteed trade-in? Unless you're talking about a lease, I have never hear about it.

Btw, not even all japanese brands depreciate that slowly. Look at sagging values of 2-3 year old Maximas.

GM is a bargain after 2-3 years, which does not really always reflect the value of those vehicles. GM has a rough history and not the best reputation, but we do not need to make it sound worse than it is. Imports are far, far from perfect too and some big names have been going down in quality for some time now.

cerbomark, does your decision to sell have something to do with the vibration issue?

nothing to do with the sale ..... yury you art gallery is really good. you are really good at taking pictures. just wanted to compliment you.

nothing to do with the sale ..... yury you art gallery is really good. you are really good at taking pictures. just wanted to compliment you.

thank you :)

no vibrations, that was corrected, no current issues. I have bought a Jeep Wrangler for every day driving and now have the $$$ to buy the Z06. BUT I have to get rid of something. I gave the dealer all the info they needed on the Malibu a month ago and told them to call me if they could take it back on a trade for the Z06. It s one of the largest Corvette dealers in Upstate NY area. I just e mailed them back today cause I m curious now about the trade. I believe the market is so bad that they can t even make a reasonable offer. If that s the case I will drive it a while more. It s a nice ride anyway!

http://i3.photobucket.com/albums/y71/cerbomark/IMG_0554.jpg

and here s the new daily driver for all the snow we get up here.

I thought by your first post you mentioned this was a Lease Option you went for on the 08? A Lease would be different and I can't remember if Chevrolet is even offering the Corvette Z06 on a Lease deal.

No matter what you buy as a new car you can expect to lose almost 50% of the value of the car after a year, depreciation hits the worst in the first year and almost as bad the second year it's owned. Most dealers don't take many year old cars as a trade since they are probably trying to off load the ones still sitting there from that same year. And with prices dropping on the new Malibu who would look at a used 08 that runs more in price than one that's new with just test mileage on it, just doesn't seeem to be a very good deal on a used one, and you know the dealer's gonna try to make a profit off of a trade in.

No matter what you buy as a new car you can expect to lose almost 50% of the value of the car after a year,

No offense, but you are way off base with this 50% rule. It's more like 50% after 3 years for most cars. GM is notorious for poor resale and high depereciation.

Depreceiation % depends on how close you paid to MSRP. Not really GM's fault, they would love to sell at sticker, but can't. Malibus are going for 20% off MSRP now. So 30K MSRP, selling for 24 new, 19 used. So trade in will be less then 19, unless dealer make enough on the new sale.

How was the vibration issure corrected?

Depreceiation % depends on how close you paid to MSRP. Not really GM's fault, they would love to sell at sticker, but can't. Malibus are going for 20% off MSRP now. So 30K MSRP, selling for 24 new, 19 used. So trade in will be less then 19, unless dealer make enough on the new sale.

Perfect post, thank you;-)

Depreceiation % depends on how close you paid to MSRP. Not really GM's fault, they would love to sell at sticker, but can't. Malibus are going for 20% off MSRP now. So 30K MSRP, selling for 24 new, 19 used. So trade in will be less then 19, unless dealer make enough on the new sale.



Not GM's fault? They price a car at 30k but sell it for 24k? Who's fault is that? Maybe they should adjust their prices more in line with reality.

Of course, if they priced it at 24k then customers would want 20% of that price.

Not GM's fault? They price a car at 30k but sell it for 24k? Who's fault is that? Maybe they should adjust their prices more in line with reality.

Of course, if they priced it at 24k then customers would want 20% of that price.

True. They actually were, and it was working, but a recent change in particular was a sudden price increase a few months into the model year that raised things like the Malibu another $1k or more overnight. An LS with the tagline price of $19,995 and a loaded LTZ V6 still under $29k was very attractive, to start. Then we had the increases and, well, the sales dump.

I was just e mailed and told they can not get the financing with the Malibu included as a trade???? Don t know what this means unless they are just going to dump a hugh depresiation (sp) number of the Mailbu onto the new car causing the cost to be way too much??? So I asked if they could get me out of the Mailbu and will provided my own financing on the Z06...

Did you lease this car? I thought there were penalties if you cancelled the lease before it was up under certain circumstances.

Did you lease this car? I thought there were penalties if you cancelled the lease before it was up under certain circumstances.

Yes, and the penalties (or cost) appears to be too great for me to get out now.

with the economy the way it is ... I agree terminating a lease is tough busniess. although have you tried posting at http://www.swapalease.com there is another one too i think it is leasetrader or leasetrading that might work for you mate.

after reading all the legal BS it still looks like you can get stuck being responsible to the lease company. They have other insurance for that but it only covers to a limit. Ex $2,000 in damages on turn in. I might buy from them but don t think I d trust a sale. I need to start driving mine more till the end of the lease. Only have 6K miles now.

I just got out of a lease and I will never do it again. It was a hassle and the pay-off was not cheap.

I did a normal old finance on the '08 LTZ I just purchased with 10500 miles. I got mine for $17800 at a dealership. Amazing to see that next to an '09 Aveo for $17800 MSRP. :eek: I usually buy brand-new cars; it's nice not to take the depreciation hit for a change.

The problem is you are talking about a trade in for another car and thinking you have some stake in the Malibu. You do not own the Malibu the lease company owns the car so there is no trade in value to be had. You have to break your contract with the lease company but there is no value for you in the car. All value belongs to the lease company. Just think of it this way, if you were getting divorced you would be fighting over who got stuck with the car and the lease payment.

Bill

That statement is not totally accurate. If you can sell or trade in a car for more than what the residual is plus the remaining payments, then you get to keep that equity. I have done this before with prior leases.

mpoczobut, that may be just a lucky Vermont law then.. what BillD said is 100% accurate (at least in New York, and my state, Massachusetts).. Because you're leasing, you're only paying to use the vehicle. 0% of the payments you're making are going to you becoming an owner and you therefore are not entitled to any profits from the vehicle.

That may be, but it makes sense that you don't owe the leasing company more than your contract stipulates. Lets say you are at the end of your lease and the residual is $16K, you can either bring the car back to the dealer or pay the leasing company $16K. If you we able to sell the car for $17K the leasing company can't demand an extra $1K. You are essentially buying the car for the residual and then turning it around and selling it.

Ahh okay I understand what you're saying.. kinda.. just make sure you look closely at your contract you negotiated and signed at the beginning of your lease.

That may be, but it makes sense that you don't owe the leasing company more than your contract stipulates. Lets say you are at the end of your lease and the residual is $16K, you can either bring the car back to the dealer or pay the leasing company $16K. If you we able to sell the car for $17K the leasing company can't demand an extra $1K. You are essentially buying the car for the residual and then turning it around and selling it.

Correcto. I have a SmartBuy (now, essentially, gone as are GMAC leases...swapped it from my lemon G6), which is essentially a lease treated in all intensive purposes as "financing", and either now in the midst of it or at the end of the term if I sold it for more than the running payoff amount, that's mine to keep. Or if I sold it for less, I'd have to make up the difference and pay it off.

Paying off a lease is different than just turning it in early, as you're basically just paying off your partial payment amount and the residual/balloon other part at once. Then, basically it is yours or it's whoever just bought it from you.

Right now with how the values have been screwed with thanks to everything dying, trying to do such a thing is hard, because you're more often than not upside down especially with a running lease.

to sell at the end of the lease is not that easy there are fees to pay to buy it so remember that. like sales tax and retitling you have to be ablt to get almost 2K more than residual to make out. let us say at end it is worth 15K then sales tax alone would add another 900.00 to the purchase price so be careful.

You all see the issues here so I ll be around here another 2 years or so until I can just turn it in at end. In the mean time I ll just drive and enjoy. It really is a nice driving car.

You know, if GM says its cars are as good as other brands, why don't they start a program that has a guarenteed trade value?

$18k for roughly a $30k car after one year is ridiculous.

Overproduction, high discounts upfront lead to bad resale.

It's a viscous cycle that GM got itself into and one reason why people stopped buying from them.

Sad, but true, to get your money out of a GM car, you need to hold it for about 7 years.

Indeed you speak the truth; but, Deetroit can't stop itself. Frankly $18K seems a little high. I'm thinking $15.9K tops. The deals we are seeing in Deeghetto are amazing... Every domestic is selling 12 month old cars/trucks +/- 2 months with 10k miles +/-2k for 40% +/- 10% of original MSRP. I think I would have a hard time selling my 2LT w/ 8K miles for more than $10K. Thank God I love the car... although It's doubtful I'll purchase collision insurance for it much beyond '10.

I just bought a 2008 LTZ 3.6L for $17900 in CT, black with tan interior. There is an identical LTZ in my area with 8k miles asking ~$24k. After having shopped around for several weeks, with LT2s on my possible list I can tell you at least in my area you could get much more than $10k for an LT2 4 or 6cyl. The dealer down the street has 4 LT2s that have been sitting for a while, with mileage between 10k and 17k all asking $17500-18K, if you offered me $15 k for your LT2 private party, I would have been there that day.