: Potential "new" CTS-V owner



LUNAT1C
08-04-11, 12:34 AM
Hi guys,

New member, looking to purchase a 2007 CTS-V in the next month or so, perhaps a few months depending on finances, savings, and insurance. I'm look specifically at a 2007 model since it's guaranteed to have the improved differential, 100k factory warranty, and I hope I can get a longer loan term.

Anyhow, one thing that has been on my mind regarding this purchase is the value of the car. From what I've seen, low mileage 2007 examples in a 150 mile radius of my zip are going for a bit under $28,000. Specifically there is one in Elizabeth, NJ with 46,000 miles, dealer asking price is $27,900. KBB puts it over $30k and Edmunds puts it around $28,200 excellent retail. I'm inclined to believe that the asking price is fair... is it? I'd love to get an 04 or 05 for less money (there's a black 04 with 30,000 miles going for $24.5k 3 miles from my house, dealer offers 3.99% and 60 month terms for those who qualify, and who knows if a 24 year old with good credit qualifies, couldn't hurt to try) but I doubt I can get financing for something that old, unless the dealer can give me that killer rate. I was thinking of using a credit union since a friend of mine got 3.99% to finance $36k for a 2007 Corvette, and he's 23.

Regardless I hope to finance just $25k over a 60 month period. The year of the car might force a shorter term, but I'll cross that bridge when the time comes.



Also, I should mention that the extent of my experience with manuals is moving a 2004 350Z 100 feet to get it out of traffic, and stalling when I left it in gear and got out, hah. Beyond that, I've used the AutoStick in my Chrysler 300M Special almost exclusively since I bought the car in April 2009, and since we're dealing with a real engine here it shouldn't be an issue to pick it up quickly. Still, what should I watch out for? Any funny shakes and groans? Would it be fairly obvious if the clutch was worn and near the end of it's life? Once I have the car I'll try and quickly service everything I can that the dealer can't prove was already done. Fluids, filters, plugs, etc. I'll do what I can myself and let Cadillac do what I can't do in my friend's garage (the one with the vette).




That aside, I can't wait to make the purchase. It will be the newest, most powerful, most expensive purchase I've made to date... which previously was/is the 2002 Chrysler 300M Special I have now. Paid a bit under $9k cash a little over two years ago. Love that car to death and back (literally, don't ask) and is the reason for my handle, LUNAT1C. I'll be owning both cars concurrently since I can't part with the 300M... she won Best of Show in the 300M Enthusiast's Club back to back at the All-Chrysler Nationals in Carlisle, PA this year and last, and placed second in the Carlisle Events show. It will be my toy while the Caddy is my DD/tool. A fun DD/tool, to be sure. :cool:

I don't plan on modding whichever V I buy beyond the simple stuff. Tint, audio, spoiler, clear fogs/turn signals, maybe wheels when the tires wear out. I know, I know, famous last words... I said the same thing when I bought my Special, and dropped $900 on SRT Design wheels and tires 5 months later, then $2000 on A/V mods over the past few months. The idea behind getting a V is it's already an excellent car... hopefully the mod bug will stick with my Special.

I should stop before this becomes a novel... Happy motoring, folks! Feel free to drop any advice you think I should be aware of. I've already gone through the stickied "what to know before buying a used V thread" and not much of it made sense, but I picked up things like diff whine on older models and engine/trans bushings, as well as having a look at G-meter readings. Should be helpful.

Thanks,
Rob

rand49er
08-04-11, 08:59 AM
Welcome, Rob. IMHO, giving yourself a greater radius to search in might give you a lot more options. In fact, I wouldn't be afraid to pick something up after you've taken a plane ride one way to another city and have to drive a full day back. Could save some money, plus you'll be a manual trans expert by the time you get back.

LUNAT1C
08-04-11, 11:06 AM
I've considered that, it just seems odd to buy a used car almost sight unseen... it would be great if I was ready to buy now, as I am on a business trip to Atlanta and there is a Thunder Gray 07 at Hennessey Cadillac in Duluth, GA right now that really caught my eye. I could test drive during my lunch break, but since I fly back to Philadelphia tonight and don't plan to buy until Sept, no point.

I suppose having that 100k factory warranty should be comforting. Would GM/Cadillac be responsible if, say, there was a head gasket or rear main seal leak within a few months of ownership? Or worse, one developed on I-95 while bringing the car home? I imagine at least the selling dealer would be responsible for it within something like a month or a couple of thousand miles.

JDB
08-05-11, 03:02 PM
I think there was a recent thread of someone in GA who just test drove that V. And I agree, for such a rare car, you're going to have to travel to see more than a handful of cars. And, post up ones you like, and maybe someome is close enough to look at it. There was one at my local dealer but I wouldnt recommend it since it was beat. Also keep in mind that some earlier cars may have the updated diff...my '05 does thanks to CPO Warranty.

I see that you are in PA as well... if your using PSECU to finance, they go by the value of the car to determine length of the loan. For ex, $20k+ can be up to 84 months. Then, # of months determines your rate. For ex, 60 months is 2.9% right now! 72 is 4.9 and 84 is 5.9

With the number of PA V owners growing, we need a meet!

GDPossehl
08-05-11, 05:42 PM
There are plenty of mods to do. You just won't know it up front.

Also, please leave that Thunder Grey car here in GA, out of the rust belt. Thanks.

cvettr/cts-v
08-05-11, 07:02 PM
Have the vin run for service history on any real potentials any gm dealer can do it and if they have the car should be no reason they'd refuse. it may shed some light on the car. Warranty is a big bonus but lots of 04-07's have the potential to have decent warranty left. It is a verry easy car to learn to drive manual on but if you can get someone else to loan you a manual to learn on do it. I had to teach my mom 20 years ago to drive a manual. I took her to a new subdivision that was being built with a big hill in it at 10:00 at night on a sunday stopped 1/2 way up the hill put e-brake on put her in the drivers seat and told her when you can get going without killing it here 10 times in a row you can drive anywhere. Approximately 30 minutes later she drove it all the way home. Sure she later stalled a few times when pressure of traffic is introduced but she knew what to do and never looked back. Whether you by a V or not you still should be able to drive a manual. I wish all states required driving tests to be done on manuals before issuing licenses. The prices you are seeing seem a little high but they are asking prices and you have to start somewhere. You can have people check potentials out for you by asking volunteers near them as they have no reason not to be honest. You can have the seller if private take it to a dealer of your choice for a thorough looking over on your dime of course and they report findings to you not the owner as your paying them. There are plenty of ways to make pretty darned sure you are not disappointed upon traveling to another state to buy. Good luck.

cvettr/cts-v
08-05-11, 07:23 PM
1 other note find a great one and daily drive the Chrysler and keep the Caddy for good weather. Otherwise it's kind of like daily driving a Shelby and having a Nova for the play car. Just kidding it's your money drive what you want when you want. Just had to jab a little.

JimmyH
08-05-11, 09:04 PM
welcome to the forums