Facing layoff &resale value is horrible!
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Cadillac XTS Forum Discussion, Facing layoff &resale value is horrible! in Current Cadillac Vehicle Discussion; I bought an 2013 XTS Platinum FWD in September and just found out I am facing a layoff so I ...
  1. #1
    Period is offline Cadillac Owners Member
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    Thumbs down Facing layoff &resale value is horrible!

    I bought an 2013 XTS Platinum FWD in September and just found out I am facing a layoff so I have to trade the XTS. The resale vale is between 43 and 46,000 dollars. I thought the Korean cars had horrific resale value. I would be very careful if you are considering an XTS. This is a sickening situation to know that a car I paid $56,000 just three months ago (sticker was nearly $59K) has dropped by $13 to $16,000 in THREE months! The resale value of what I thought was the best America car offered is worse than a heavily discounted import. Think hard before you buy Cadillac. It is a huge waste of money if you are forced to trade it!

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  3. #2
    flying fossil is offline Cadillac Owners Member
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    Re: Facing layoff &resale value is horrible!

    Anything you buy will loose about 20% just by driving it off the lot. Lucky you didn't get a Lexus or Bugatti.

  4. #3
    Period is offline Cadillac Owners Member
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    Re: Facing layoff &resale value is horrible!

    This is my last Cadillac. Next time it'll be a Lexus or Acura where the drop won't be so maddening! I figured a $5,000 drop would be in the ballpark not 13 to 16 thousand! (Well over that 20%). And I just read where used cars were going up $1000 due to hurricane Sandy. Cars are such a waste of money - never another Cadillac for me. I would have been better off buying a Hundai.

  5. #4
    carter's_sts is offline Cadillac Owners Connoisseur
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    First, sorry about your layoff!

    The American luxury cars are crazy on the resale market. Everyone seems to want the German or Japanese cars and they don't drop as much.

    But Cadillacs are a great value on the used market. Sorry that doesn't help you at all.

  6. #5
    thebigjimsho's Avatar
    thebigjimsho is offline Cadillac Owners 10000+ Posts
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    Quote Originally Posted by Period
    This is my last Cadillac. Next time it'll be a Lexus or Acura where the drop won't be so maddening! I figured a $5,000 drop would be in the ballpark not 13 to 16 thousand! (Well over that 20%). And I just read where used cars were going up $1000 due to hurricane Sandy. Cars are such a waste of money - never another Cadillac for me. I would have been better off buying a Hundai.
    First off, I'm glad this will be your last Cadillac.

    You decided to buy a brand new car and then sell it in 3 months. How do you know your XTS is worth that little? Because a dealer told you? What dealer? A Hyundai dealer?

    Odds are, if you're trying to trade in on a lesser car at their dealer, they will struggle to unload a much more expensive XTS. If it's the Cadillac dealer you got it from, maybe they want to make a killing on you.

    The point is the number you quoted for trade-in means squat. None of the car value sites I used could offer ANY numbers at all. Its too soon to get reliable numbers. Any number given you is pulled out of mid air. So your rant is baseless...
    csurfer and csurfer like this.


    -- We miss you, JD (Dirt_Cheap_Fleetwood)


  7. #6
    DG2's Avatar
    DG2
    DG2 is offline Cadillac Owners Connoisseur
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    Quote Originally Posted by thebigjimsho

    First off, I'm glad this will be your last Cadillac.

    You decided to buy a brand new car and then sell it in 3 months. How do you know your XTS is worth that little? Because a dealer told you? What dealer? A Hyundai dealer?

    Odds are, if you're trying to trade in on a lesser car at their dealer, they will struggle to unload a much more expensive XTS. If it's the Cadillac dealer you got it from, maybe they want to make a killing on you.

    The point is the number you quoted for trade-in means squat. None of the car value sites I used could offer ANY numbers at all. Its too soon to get reliable numbers. Any number given you is pulled out of mid air. So your rant is baseless...
    Outstanding response !! The XTS is a hot car on the market , you don't go crying to a dealer for a trade especially if you told them you lost your
    job. They are totally ripping you off.

    eBay motors or any other way to sell your XTS privately that's the way to go. Before you bash Cadillacs be smart. A dealer is not out to be your friend they are out to make maximum profit

  8. #7
    rayle is offline Cadillac Owners Fanatic
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    Re: Facing layoff &resale value is horrible!

    I'm sorry about your layoff.

    Yes, you should have bought a Hyundai.

  9. #8
    carter's_sts is offline Cadillac Owners Connoisseur
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    Do a search on Cars.com. I just saw 24 used ones Nationwide. Not many, but it will give you an idea what dealers are asking for them.

  10. #9
    CAPT Mike is offline Cadillac Owners Fanatic
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    Re: Facing layoff &resale value is horrible!

    Seriously, layoffs spell disastor for a family, but you need to start looking to find another position to keep your household together. With that being said, blaming cadillac for this bump in the road is absurd. Give you some examples of real world, my world. Traded a Lexus SC430 (paid 65K) 10 months after purchase and lost 15K. Every BMW that I traded was always appraised at 5K below KBB. A Saleen Mustang appraised for trade at a "mere" 12K below Black Book value. Most of us have been around the block once or twice and if you have to trade early for whatever reason know that you are going to get hosed. Your choice to let it happen or not. Last, but not least; would you pay 56K for a 3 month old car when you could order a brand new one for the same price? Of course not! You would want a big discount! So, sorry for your plight; start figuring how to get yourself on more solid ground instead of ranting. BTW, Hyundai vice a Cadillac? Really?

  11. #10
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    Ludacrisvp is offline Cadillac Owners Connoisseur
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    Re: Facing layoff &resale value is horrible!

    Sorry to hear of the layoff ... but buying new is always a loosing money operation.
    As hard to obtain as the XTS is I would recommend selling it privately to someone instead, or find a Caddy dealer that needs one.
    Trade-in values for a new to market car are not going to be accurate.
    Perhaps it was overlooked but I didn't see any mention to the number of miles on the car, if there are any cosmetic issues / damage to the car, if the car has a lot of options or not. (I realize its a Platinum but there are bound to be options that can be added to a platinum too) Color can also be a factor on value.

    Bottom line is unless you can afford to toss a large % of the MSRP on the ground and not care never buy a new car.
    My 08 STS was stickered at $68,750 ... its worth $19k on trade now, KBB retails it at $26k with 71k miles on it.
    If I had bought it new I would feel really ripped off and this is 4 model years old and is a discontinued model too.

  12. #11
    brock123 is offline Cadillac Owners Member
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    Re: Facing layoff &resale value is horrible!

    Not sure what the dealer backlog is like in the states but in Canada there's zero stock anywhere in the country (using the stock search on GM's website). Any luxury car is going to depreciate a ton as other people mentioned but I think if there was any car in this price range you'd want to be stuck with in your situation it would be an XTS since anyone that wants one has to wait a while

  13. #12
    S420merc is offline Cadillac Owners Member
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    Re: Facing layoff &resale value is horrible!

    American luxury cars take a beating in the used car
    Market. I bought a SRT8 300c a few years ago The MSRP
    Was 57k new i bought it 6months old and 5k miles for 33k
    It was a Chrysler Executive Car. I am looking for an XTS Platinum AWD
    Now the MSRP is 61k and planing to pick up one an Executive car for
    40k -42k so thats the deal. American cars take a beating when u drive off the lot

  14. #13
    thebigjimsho's Avatar
    thebigjimsho is offline Cadillac Owners 10000+ Posts
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    Quote Originally Posted by S420merc
    American luxury cars take a beating in the used car
    Market. I bought a SRT8 300c a few years ago The MSRP
    Was 57k new i bought it 6months old and 5k miles for 33k
    It was a Chrysler Executive Car. I am looking for an XTS Platinum AWD
    Now the MSRP is 61k and planing to pick up one an Executive car for
    40k -42k so thats the deal. American cars take a beating when u drive off the lot
    Umm, all luxury cars do. Especially the Germans. Even Lexus.


    -- We miss you, JD (Dirt_Cheap_Fleetwood)


  15. #14
    CAPT Mike is offline Cadillac Owners Fanatic
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    Re: Facing layoff &resale value is horrible!

    I forgot to mention in my earlier note about my experience with my BMW X5. Purchased a 2011 "to be built" model optioned out diesel. MSRP 65K. Delivered Aug 2010. Transmission shift is electronic, needing a soft touch holding buttons to change gears. I like it, but the wife hates it. She won't drive the vehicle. Got tired being the driver/chauffeur. So I approach my BMW dealer and tell him my woes and that my wife wants to go back to her 5 series It is 9 months later (May 2011) and there are 5000 miles on the odometer. No problem states the my "sales consultant." He has an on the lot 5 series loaded for 65K. So I'm figuring, keeping the peace and my sanity is worth 10K. WRONG!!!! He wants 25K + my X5 to take the 5 series out the door. Sorry to be so long winded, but when it comes to cars, anyone who expects minimal depreciation must have just fallen off the turnip truck. And I apologize to anyone in advance if you take that statement as in insult.

  16. #15
    carter's_sts is offline Cadillac Owners Connoisseur
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    American cars definitely depreciate faster than the foreign ones. I price used cars all the time and the Bimmers and MBs don't drop nearly as fast as Lac and Lincoln.

    I never price Chryslers.......LOL.


    Quote Originally Posted by thebigjimsho View Post
    Umm, all luxury cars do. Especially the Germans. Even Lexus.

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