Current GTO prices
 

I had been thinking about buying a late model GTO for a driver for a few months now. I've read some conflicting opinions on what these cars are worth.

I've seen a bunch of 05-06s for sale in the low - mid $20s. I'm not sure how many have sold.

I've run into an 06 6-spd with 11K original miles for $18,500. It's never been in an accident and isn't owned by a kid. He started out at $22,500 but hasn't been able to sell it.

Are these cars going that cheap because nobody's buying right now? Has anyone seen any sell recently? I followed a few 06s on Ebay that went in the $17 - 18K range with similar mileage.

I'm tempted to buy it, but I'm thinking it might be a good idea to conserve cash with what's going on in the economy lately. Anyway, I'd like to hear your thoughts.

Mike

Hi Raleigh-Mike! I say grab it. How's the job over there. Stable? Then if it is, go for it. That's still a new car! I really think it will rebound from that price too and possibly be a collector in future.
When you get it, swing over here to Durham and give me a spin with a grin. Never road in one of those yet.

John.

Average dealer wholesale for an 05 is around 16K with 36,000 miles. That number represents only the mid west sales (at major dealer only auctions) and only 6 units sold in the last two weeks. It doesn't give me trans info.

This is real dealer pricing. If you were to buy from a dealer, Id expect a final sales price about 1500 above the number above. The challenge with these cars is that many are sitting and the wholesale value is dropping. Therefore many dealers might have more money in them than what the current wholesale number reflects above. Sales of these cars is not unlike any sport ute. Not many people want them right now which may be a good thing for you if you can find someone desperate enough to get out from one.

Real World Pricing from what I have seen.

Roughly;
04's running in the mid teens to 18K.
05's running 19 to low 20's
06's running 21-26K.

If you found an 06' for under 20K and it checks out, I'd suggest snagging it.

I was about ready to pull the trigger about a month ago on a different car, but the rash of bank failures unnerved me a little.

I thought the car would sell quickly once I passed on it, but he's still got it. I posed the question because I was curious what these cars were bringing at the dealer auctions and through private sales.

Mike

I traded my '04 GTO and '07 Grand Prix GXP locally for a '09 Buick Enclave. The GTO has 7100 miles on it--a black automatic car. They gave me $16,345 in trade, and $18,345 for the GXP. They're asking $22,995 for the GTO and $23,995 for the GXP on their used car lot. It'll be interesting to see what the cars sell for.

This past Spring I saw an 04' Barbados sitting in a non GM lot. I was in my PU. I stopped in just to look at it and some sales guy pounces on me telling me all about this car. He tried to give me an education on it. The thing is, most of the information he was razzle dazzling me with was incorrect. Starting with the color. On the window sticker was a Toyota color not GM. I let him go on and on, my wife was laughing, even she knew he was full of $-hit. I then asked the price, he told me, what will you offer me.. I said noooo you tell me what you want, he then said nooooo you give me an offer... So I did. I said 16K. HE LAUGHS.... This is a GTO, Do you know what you are looking at, did you ever drive one? I said well I drove an 05' once. He says you certainly don't know the market on this car. I did not go in looking for a confrontation but he asked for it.....

I laughed, So, I began correcting his "mistakes" I took him around the car showing him what he was stating was incorrect starting with the color, I then said, based on the miles, the dings, repaint on places etc. He has this look on his face.... So I say. Now what are you asking for it.... 19,999 he says. I give him a "what are you kidding me look."

He says do you have one? I said yeah... I ask him ever hear of GTOAA? Whats that he says..... I tell him... He as a look of embarrassment. Well that is what we are asking but its not firm.... I said you acted like it was firm ...after all I don't know the market. The car dropped over 2K on the spot. He wanted to talk about 17K for the car. I told him good luck but before you go off trying to impress a prospective buyer you ought to read up on this car first. He had to go... I saw the car on the lot for 3 months before it disappeared.

These cars will keep dropping in value as they get older and the economy gets worse. If you want a great deal, keep waiting.

If that car is for real I would say go for it. Yes, prices may keep droping but where do you draw the line. Do you want to drive by and see it is gone. I've had mine for less than a year and yes the prices have come down from what was the good price I got mine for. Do I think I should have waited for a different car, no, no, no. I got a color I wanted, the wheels I wanted, good miles, and I love driving this car. Just ask my wife, I tell her every time I put it back into the garage.
You can take the vin to a GM dealer and they can run it to tell you the car's warranty history.
Only you can answer the financial question. If your comfortable, you are looking at a car with low miles, low price, hi power, and at least on the hiway hi fuel mileage. What's not to love about the new gen GTO.

I would suggest that if a dealer is selling a GTO at those prices, they are making a good amount of cash

Things are a little crazy around my house lately. My father-in-law passed away last year, and the estate hasn't been settled yet. My wife was thinking about buying out her brothers at one point, but with everything going on, I'm not sure what she really wants to do. If she ends up buying the house, I'm going to be selling a couple of cars. If she doesn't, I should be in good shape to buy something.

I don't know if they are getting those prices but those are what I have been seeing.
At the Eastern Regional in Parsippany this summer I talked to to a dealer there trying to sell an 06' SRM for 26.5K. Off the cuff I mentioned 22K and he wanted to talk. Never took it any further than that...the wife test drove it and we talked over the weekend, and well.... she balked.

in a few more months there will be a lot more of these cars on the market because the new camaro is coming out and I/m sure a lot of these will end up as trade ins

Doesnt matter. As they say "Theres an ass for every seat!!"

prices on these are dropping huge every day even the C5 vettes are suffering badly but good for buyers

There are far more buyers seeking these cars than most here want to admit. As the price drops within reach of these buyers the supply will drastically decrease. I've seen quite a few temp tags Goats around here recently and they don't seem to stay on the lots very long. Say what you want about the styling decisions of the modern goat, but it possesses the necessary attributes to be coveted. After all, it IS a Pontiac GTO.

I have two of them that won't be for sale anytime soon. I, too, have seen desperation sales of them wherein they sold for far less than they realistically should have. But that's life. I also saw a 70k 2005 Lexus LS460 sell for 25k (with under 30k miles).

Well, I think the economy has helped with the decision. My employer laid off a number of engineering staff on Tuesday, even though we have plenty of projects planned for the coming year. Same old propaganda, leverage our corporate cousins in China, increased efficiencies within our organizations, difficult business environment. Anyway, the markets have crashed and nobody knows how long or how deep this recession will be, so I'm going to sit tight and curb un-necessary spending.

The good news is this may deter the wife from trying to buy out her parents house from the estate.

Mike

I hope there's alotta rich diehard chevy lovers out there......................
 

Once again GMs timing is perfect. No one can even get car loans now, and they held off selling the long awaited, over hyped, Superduper, retro, camaro. Who's gonna buy them? This is I think, the longest GM has ever waited to sell a car that they've been showing prototypes of, for what 3 years now? The challenger is already out, mustang's been out for years and their market is oversaturated (not many mustangs moving off the ford dealer lots nowadays) and here's GMs Johnny come lately camaro, finally gonna be for sale with no market, no financing, and muscle car prices dropping, and gas prices rising, can you say.....PRICELESS.....LOL. I believe I read somewhere that their projected sales for the first year should be 100,000+ units. good luck on that number. I know if I could trade my GTO even up for a new camaro, I'd keep the GTO, no hesitation. If I want the extra 25 HP I'll put a set of headers on the GTO. Styling is subjective to an individuals own choice, but I think the camaro is butt ugly. I much prefer the styling of my 2005 GTO to it, and my 97 T/A is 12 years older, but I think much better looking. I'll probaly get alotta flack over the last sentance but oh well, I've listened to alot of people tearing the GTO apart, guess turnabouts fair play. If you really like the camaro just buy it, and vote with your wallet like I did when I bought the GTO new. Talks cheap, musclecars aren't........ :)

i gotta agree....love my '06 goat too much to trade it in on a "sorta-retro" chevy and add $10k in car loan debt.....the "new" Camaro should've been the replacement for the old camaro back in '03/'04????!!!!....but GM is once again about 5 yrs too late...wonder how many mustang gt's have been sold in the last 5 years???:confused:

Yeah, I got the same problem
 

I found a 12000 mile example, all black with headers on it that the guy wants 22,500 for. Last summer's adventures in $4.00 gasoline and the insanity in the economy right now are big considerations.

I was tempted to offer the guy $17,000 for it and see what happened, but parting with a big down payment right now, then a car payment, then the uncertainty over the economy, and the possiblility of getting tortured at the pump again is making me cringe.

My driver, a 255,000 mile T-bird cannot last forever. I got it the same way... 24,000 car 12,000 miles, 5 years old, for 12,000 dollars. Not bad for a bad old American car.

BTW.... I saw a Camry backing out of a parking space today and the brakes squeaked loudly... could it be that the much vaunted Japanese cars are not perfect either???
GASP! A friend who's a mechanic says he works on just as many of them (Toyotas, Nissans) as anything else, save maybe for Hondas.