: Can anyone explain the price of the 05-06 STS



turnne
07-15-08, 04:47 PM
Guys/ladies

I currently own an 02 STS as well as a 00 BMW 740
Bought the BMW years ago and the STS for what I thought was a good price last year
The STS is basically used as my work car and had good features and front wheel drive. I am a salesmen that travels the snow belt so front wheel drive was a definite plus
Anyway..long story short I have been poking around at 05-06 STS V8's( and AWD) in the last couple of months.....has the bottom fallen out of the value?
Not that I paid a lot for the 02 I bought last year...but they are loaded 05 V8's on the market for $20K( or less) that had $65K stickers 3 years ago that now have 35K miles
Was there just a huge lot of lease returns? what gives?
This car has to be the best used car value on the market...but you have to ask who could afford to take that financial hit...but if you leased I guess you didn't
The risk was put on GM in that case I guess


Warren

MARKVIII
07-15-08, 05:12 PM
Thats why most of us own these cars.. the most bang for the buck..plus the car is at least $10k overpriced new and the used value reflects this.

sburgin
07-15-08, 05:34 PM
Completely agree. I just bought an '05 STS (albeit not heavily optioned) for just under $20K. I was amazed that I could pick up this car for this price and jumped all over it. *The* best used car value out there right now.

turnne
07-15-08, 06:45 PM
Yes I have been doing some digging and comparing etc
Looked on Ebay and there are probably about 40 05's on there..many of them still have at least a year and 15 K miles of factory warranty left for $17-21K for the V8;s
I did an exercise based on a current lease offer they have...
Lease the car for $699 for 39 months with 3000 down..12K miles per year.
residual value at lease end of $30,000
Buy the car for 55K( 12K off the sticker) and put $10K down payment for 39 months is $1306.94( based on financing $47,800)

0% interest is available but you have to give up the rebate and some of the dealer incentive to get it...so you pay about 7k more for the car

anyway.. difference in payments alone $24,000...add the $7000 more you paid up front to buy it..total $31,000 more than the lease
you turn the 36K miles lease car in and buy the same car for $20,000...you save $11,000
Not too shabby of a deal


Warren

MARKVIII
07-15-08, 07:43 PM
thats what happens when a car company overprices there car (so they can look on par with BMW and MERCEDES)..however, unfortunately the car does not compare favorably with there comparable models. so the value gets destroyed as soon as you drive out of the showroom. BUT for people looking to get into a 1-3 yr. old clean low mileage STS fully loaded that's where the value really shines. especially if it is still under the bumper to bumper warranty. let someone else take the 30-40 percent hit.

turnne
07-15-08, 07:57 PM
I hear you on that one
However I think that whole thing runs some perspective buyers off because that fits the streotype of what they think a Cadillac is

But on the plus side..for some one like me...who is hardcore german car driver historically...I have to look at what you can get an 05 for and say for that money the car makes complete sense...especially when like I said earlier the car is to be used for a work car
My 02 has been a great car...handles snow and inclement weather incredibly
Do i think the car can replace my BMW...absolutely not..but for the price difference( on the used market) I have to say I am very happy thus far


Warren

BaTu
07-16-08, 07:53 PM
LOW resale value has always been my Favorite aspect of my Caddy purchases (I realize we do need those new buyers so we can come and swoop-up the deals though ;) )

In regular times, you can buy a 20,000mi, 3yr old, off-lease nice car for 1/2 of new.

Today, that has dropped to 1/3 or less for V8 & AWD!

I just bought one with 21,000mi & 1SG/HUD/ACC and couldn't be happier :D (the guy who bought it new lost $2.00 a mile in depreciation ALONE - I've always appreciated those with "more money than sense" ....hehehe

Da Dark Jedi
07-17-08, 05:44 PM
WOW... Thanks for the lesson. I've been looking at Cadillac for a year now and was wondering what the use car prices are. Now I looking at the 2008 model. The previous car that I had in mind was the Infiniti M45 model. You guys always mention "the most bang for the buck", can you please explain this phrase a lot more.

turnne
07-18-08, 01:55 PM
LOW resale value has always been my Favorite aspect of my Caddy purchases (I realize we do need those new buyers so we can come and swoop-up the deals though ;) )

In regular times, you can buy a 20,000mi, 3yr old, off-lease nice car for 1/2 of new.

Today, that has dropped to 1/3 or less for V8 & AWD!

I just bought one with 21,000mi & 1SG/HUD/ACC and couldn't be happier :D (the guy who bought it new lost $2.00 a mile in depreciation ALONE - I've always appreciated those with "more money than sense" ....hehehe

I think that more than likely means that there have been an uptick in the number of leases. Market gets a flood of 3 year old cars from a highly subsidized lease. At lease return car would cost you 30K to buy...and has a market value of 20K
a no brainer decision there


Warren-

LuvMyV8
07-23-08, 01:25 PM
Could it be that the fuel prices have negatively affected the V8 prices?

I bought mine last year - two years old, off lease, clean, loaded V8 for mid-20's. The previous owner had put Vogue wheels on it and some other extras, so I benefited from his loss.

megeebee
07-24-08, 02:45 PM
The current generation STS, as introduced for 2005, has been a flop from the beginning. The previous car sold about 25K-35K units a year. The 2008 model may find 18K buyers, and many of those will go to Hertz and Avis. The window sticker has been a waste of paper. No one wanted them when they were new, and most were sold at a good discount. So you have a car that few wanted that had to be sold at a low price. These two facts create a very cheap used car.

None of this is to say that the STS is a bad vehicle, it isn't. The reasons for it's failure have been debated back and forth since its introduction. Personally, I feel that its "not-quite-a-sport-sedan-not-quite-a-luxury-car" personae, it's plain uninspired interior, watered down exterior, and high sticker price all conspired to doom it. The CTS, a car with much more character could be had for thousands less and its sales were and still are fantastic.

Others disagree with my assesment of course. But, a good second hand example is a screamin' buy!

MARKVIII
07-24-08, 03:29 PM
perfectly said!

edsandra
07-25-08, 10:30 AM
I agree, almost all used STS's that I have looked at began life as rental-lease vehicles. Used STS's are great cars at a great price!!