Has anyone had any experience with this yet? I know the older models have taken a real hit on initial depreciation in comparison with some of the imports. Are we to expect the same with the '08 model even though the car is substantially better?

Should a guy be looking premium used instead of brand new to avoid the hit?

Thanks all.

I paid $47,800 in Dec 14th 07, Sold in March 08 with 4500 miles for $41,500. Fully loaded AWD FE2. Hope that helps... if you buy used, beware of problems.

I mean, only time will really tell. But I wouldn't worry about that quite yet. Unless GM starts throwing down massive discounts and reliability ratings go down. Then, you can worry. :)

I paid $47,800 in Dec 14th 07, Sold in March 08 with 4500 miles for $41,500. Fully loaded AWD FE2. Hope that helps...
Who did you sell your 2008 CTS to - GM, your dealer, another reseller, private individual, etc.?

...if you buy used, beware of problems.
Yeah, both new and used. :(

I paid $47,800 in Dec 14th 07, Sold in March 08 with 4500 miles for $41,500. Fully loaded AWD FE2. Hope that helps... if you buy used, beware of problems.

Why did a car bought in Dec 07 be sold in Mar 08? I know things come up in life, but that sure didn't last long... :eek:

Who did you sell your 2008 CTS to - GM, your dealer, another reseller, private individual, etc.?


Yeah, both new and used. :(

BMW Dealer

Why did a car bought in Dec 07 be sold in Mar 08? I know things come up in life, but that sure didn't last long... :eek:

Yeah, the thing that came up was many unresolved problems, my local dealer stinks. GM's initial quaility needs work!

Yeah, the thing that came up was many unresolved problems, my local dealer stinks. GM's initial quaility needs work!

Rhetorical question: Was it GM quality?? Or was it poor and inexperienced personnel at your dealership??

Think about it.

Best of luck with new car.

If this helps---
I leased my CTS at $42000 price tag.
I have an option purchase after 36 months at $26095

I am not saying this is an accurate indication of resale value, but when I was looking at the CTS and a BMW 535i I asked about residual values on a 36 month lease. Interestingly, the CTS had a higher residual %. This was back in November and I certainly understand that there could be lots of reasons for this other than future resale value.

I ordered a CTS today, and the residual value they quoted me was 50% after 39 months. I have heard mfgrs inflate residual on subvented leases, maybe that's what's going on.

I was pleasantly surprised at that number. If was on par with the G35x I was also considering.


LMS

I believe I was quoted a 62% residual. Anyone else know if these residuals are variable or are they preset?

I purchased mine used, nothing wrong with it, 1,001 miles, sticker was 38.5K, I paid 30K.

Can you guys post your annual millage with your residual values?

Edit: and the length of the lease term?

Thanks!

FWIW: Resale Value experience with a CTS

My 2003 CTS 'Sport' had a sticker price of $38,818 (and was discounted) when I bought it in September 2002, and in December 2007, my neighbor bought it for $16,500 and it had 56,000 miles. It was 100% trouble-free, last Spring had new original equipment Goodyear Eagle tires, and also new Delco battery last Spring, and it looked showroom new. I considered that good resale value. In October, the 2008 CTS-4 was ordered with every option (including premium paint), just shy of $50,000, and the dealer discounted it $2,700 and he also transferred the title to the old car to my neighbor, so the $16,500 was considered a "trade-in" and decreased my taxable amount for the new car. He even offered him an extended warranty from GM for $800, but the buyer declined. Hopefully, my newer car will be as trouble-free as my generation one CTS! :highfive:

Jackson - what BMW did you buy?

I don't think buying a pre-owned CTS would be a problem. You still have the balance of the 4/50 warranty, and others will be certified for extra peace of mind.
One issue on resale value that concerns me is the CTS being in rental fleets.
A few months ago, my local dealer told me without any questioning on my part, that Cadillac decided NOT to put the CTS in rental fleets to "protect the brand" and "guard against unnecessary depreciation."
Either corporate reversed itself, or he was blowing smoke to try to make a sale. At least I haven't seen the D.I. in the fleet.

Jackson - what BMW did you buy?

I don't think buying a pre-owned CTS would be a problem. You still have the balance of the 4/50 warranty, and others will be certified for extra peace of mind.
One issue on resale value that concerns me is the CTS being in rental fleets.
A few months ago, my local dealer told me without any questioning on my part, that Cadillac decided NOT to put the CTS in rental fleets to "protect the brand" and "guard against unnecessary depreciation."
Either corporate reversed itself, or he was blowing smoke to try to make a sale. At least I haven't seen the D.I. in the fleet.

750i.... it is the 4th 7 series I have owned.

Javkson, IMO, you did the right thing in getting rid of an irritant.......... Good luck with the Bimmer. They are good cars, tho I hate iDrive.

My wife insists on buying nothing but Cadillacs ... and we get hammered EVERY time we trade.

Case in point - her 2006 STS is only 2 years old, and has 21,000 miles. Stickered for about $45,000. It's now worth $18,500. (Yep, you read that right. Check KBB or Edmunds.) She wanted to trade it for an '08 CTS, but she's about $17,000 upside-down, given that sorryass trade-in value, coupled with the amortization schedule they use. And that's in spite of the fact we paid about $5,000 down to buy the payments down.

I have no idea whether the CTS will plummet in value like her other Caddy's have (STS's, DTS's, and an '04 CTS), but I'm not overly optimistic.

Sorry to sound bitter, but I've eaten tens of thousands of dollars on Cadillac depreciation over the last 10 years ... it's right down there with Kia!

.
.

How does everyone think a manual CTS will retain it's value? I have a feeling these will be worth significantly less than an automatic CTS.

According to KBB, among luxo cars, Lincoln and Mercury will drop the most. Then there's long-in-the-tooth Jaguars, followed by the overpriced unreliable Merc E-Class. Then comes a Lincoln sedan followed by a bunch of Cadillacs. Details (http://www.smart-news.biz/2007/07/top-10-luxury-vehicles-with-lowest.html)

On the flipside, if you want high resale, buy a Corvette or a Lexus or an Infiniti or a BMW or an Acura. Of course you've gotta buy the right model -- they're not all good.Details (http://www.smart-news.biz/2007/06/top-10-10-vehicles-with-highest-resale.html)

It's a known fact American Cars have terrible resale. Unless you are driving either a Escalade or a hot American Truck. My buddy works in the Car Auctions business and he warned me about buying a General Motors vehicle, regardless if it's the new CTS or not. He told me they have the worst resale period. You are always going to lose money on a car no matter what. But, you certainly won't take as big of a hit on a foreign car. Trust me, I've had mostly German and Japanese vehicles and never had trouble selling them, nor did I take a huge loss. I'm done with GM. The 08 CTS was my first American Purchase and my last. I had the major issues with Steering Wheel Vibrations which is inexcuseable for a vehicle of this so called stature. Never again.

The residuals (at least with gmac) are on a schedule. mine was 58% for 39 month lease initiated 11/07. don't know about recent leases, they may have changed since then.
but all I have to do is take care of the car and I don't have to worry about resale value, unless I choose to buy it then.
rg

2008 results from KBB are out:

You want the best resale? Buy a Volkswagon. Best sedan? Honda Civic. Best luxo? BMW 6-Series. Best of all models? Corvette. Most models in the Top 10? VW, then Scion. Top brands among American cars? Cadillac, Saturn, and Pontiac.

Top 10 Brands: Best Resale Value 2008
1. VW 48.1
2. BMW 45.6
3. Acura 45.4
4. Honda 45.2
5. Porsche 44.9
6. Subaru 44.4
7. Lexus 43.2
8. Infiniti 43.1
9. Audi 42.6
10. Toyota 41.4

Bottom 10 Brands: Worst Resale Value 2008
1. Suzuki 27.6
2. Kia 30.4
3. GMC 32.5
4. Mercury 32.5
5. Dodge 32.5
6. Chrysler 32.5
7. Lincoln 33.3
8. Jeep 33.3
9. Ford 33.8
10. Jaguar 34.1