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Author Topic: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?  (Read 4747 times)

Offline java_man

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Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« on: April 20, 2014, 02:33:04 pm »
My father-in-law can't drive anymore so he's handed over the keys to his baby - 2012 Cadillac CTS. The wife want's a new-ish vehicle, so we've been shopping it around as trade bait on new/yr-old cars, and I'm shocked - shocked, I tell ya! -  at what we've been offered....price range was 20 - 22.5k.

Now to be fair, this falls under the "good problem to have" category, as the car was gifted to us; I just find it bizarre that a car he bought for > 45K (probably more like 50, taxes in) a year-and-a-half ago is worth half as much today. Yeah, the 20-22.5K is dealer's wholesale price, but still.....the car only has 6600 km on it!!

I'll float it on Craigslist and try to put up with all the flakes, ultimately I guess it's worth what its worth  ::)

American luxury - buy at your peril.

//rant
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Offline wing

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #1 on: April 20, 2014, 04:45:23 pm »
Probably worth $29-31 retail. 
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Offline johngenx

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #2 on: April 20, 2014, 05:33:55 pm »
People always complain about the low trade values compare to retail prices.  Uh, geez, that's how dealer make money.  The $800 they make on a compact car ain't keeping the lights on.  The $5K or more on a good used car plus the service department is how they stay open.

If you want retail for your car, sell it.  And "I can't be bothered" means that you will pay $5K+ for that convenience.
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Offline EV Dan

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #3 on: April 20, 2014, 05:54:04 pm »
Finding this thread will be better than any Easter egg for some around here  ;D
My Sonata depreciated just as badly, while the FJ did much better, talking about the black book values. A lot depends on how well you bargain. Any dealer will begin with a ridiculous offer for your trade.
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Offline wing

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #4 on: April 20, 2014, 05:57:25 pm »
Like using my yaris as an example.  Dealer offered $4k. Sold it in three days for $8k. 
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Offline KD

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #5 on: April 20, 2014, 06:33:27 pm »
Quote from: java_man on April 20, 2014, 02:33:04 pm
My father-in-law can't drive anymore so he's handed over the keys to his baby - 2012 Cadillac CTS. The wife want's a new-ish vehicle, so we've been shopping it around as trade bait on new/yr-old cars, and I'm shocked - shocked, I tell ya! -  at what we've been offered....price range was 20 - 22.5k.

Now to be fair, this falls under the "good problem to have" category, as the car was gifted to us; I just find it bizarre that a car he bought for > 45K (probably more like 50, taxes in) a year-and-a-half ago is worth half as much today. Yeah, the 20-22.5K is dealer's wholesale price, but still.....the car only has 6600 km on it!!

I'll float it on Craigslist and try to put up with all the flakes, ultimately I guess it's worth what its worth  ::)

American luxury - buy at your peril.

//rant

I assume low mileage...why not just keep it? 
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Offline java_man

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #6 on: April 20, 2014, 07:01:24 pm »
She's more 'Mazda 5, soccer mom' style...plus the 100-lb German shepherd wouldn't fit in the trunk. Between the kids and work, she does a lot of driving, so we're looking for something a little more practical. I've tactfully suggested a Mazdaspeed 3, or the CX 5 but noooooooo. 

Yeah, we're middle-age boring.
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Offline KD

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #7 on: April 20, 2014, 07:05:28 pm »
Quote from: java_man on April 20, 2014, 07:01:24 pm
She's more 'Mazda 5, soccer mom' style...plus the 100-lb German shepherd wouldn't fit in the trunk. Between the kids and work, she does a lot of driving, so we're looking for something a little more practical. I've tactfully suggested a Mazdaspeed 3, or the CX 5 but noooooooo. 

Yeah, we're middle-age boring.

Yup, same here.  Next vehicle will be CUV/SUV, or preferably a wagon... :-\ 
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Offline EV Dan

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #8 on: April 20, 2014, 07:07:25 pm »
Quote from: java_man on April 20, 2014, 07:01:24 pm
She's more 'Mazda 5, soccer mom' style...plus the 100-lb German shepherd wouldn't fit in the trunk. Between the kids and work, she does a lot of driving, so we're looking for something a little more practical. I've tactfully suggested a Mazdaspeed 3, or the CX 5 but noooooooo. 

Yeah, we're middle-age boring.

Did you try though?
What are the Caddy technical details, such as trim level, Navi, etc. I'll look up the blackbook.
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Offline wing

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #9 on: April 20, 2014, 07:25:20 pm »
Eek you have a free 2012 CTS with 6k on it and you want to trade for a Mazda5?  At least get something in the similar snack bracket :)  How about a CTS Wagon haha
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Offline java_man

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #10 on: April 20, 2014, 07:33:56 pm »
Between the smell, the four season shed-a-thon pelt and the perma-drool, that dog isn't getting within 10 20 feet of the Caddy - and I don't even like the car. Can you tell I'm a cat person?

The car is pretty basic. 4-dr sedan, leather, 3.0, sunroof, satellite radio; that's about it. No nav package, heated seats or other goodies. For a luxury car, it's a bit underwhelming, TBH.
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Offline EV Dan

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #11 on: April 20, 2014, 08:39:48 pm »
Their system is buggy sometimes. If you choose the base trim, it starts from 20,700. But then if you add leather and power roof it's still there, from 20,700 to IIRC 23,800. So I counted the Luxury trim with only addition being power roof:
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Offline mmret

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #12 on: April 20, 2014, 10:36:12 pm »
Try the private sale, though its not always easy to find a private buyer for a 2yr old $32k car.
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Offline Solstice2006

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #13 on: April 21, 2014, 12:24:04 am »
Quote from: java_man on April 20, 2014, 07:33:56 pm
Between the smell, the four season shed-a-thon pelt and the perma-drool, that dog isn't getting within 10 20 feet of the Caddy - and I don't even like the car. Can you tell I'm a cat person?

The car is pretty basic. 4-dr sedan, leather, 3.0, sunroof, satellite radio; that's about it. No nav package, heated seats or other goodies. For a luxury car, it's a bit underwhelming, TBH.

Hmm, I have a Mazda5 GT with leather, heated seats, sunroof.  Just recently got the Odyssey.  So I don't need the Mazda5 as much... And I have always liked the CTS.  Pretty tempting...for me.

Hopefully the CTS is black, and/or has AWD, then I would just walk away...
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Offline Vanstar

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #14 on: April 21, 2014, 02:03:07 am »
These make pretty good used cars since the depreciate really quickly. Blackbook on this car is about $24k and retail would be around $30k at a dealer, so look for $28k private sale.

This kind of depreciation is not industry standard. GM cars, especially the high end ones, depreciate rapidly. Even the lower end ones are great used buys. Just get the best GM Protection Plan available and learn how to be patient at the dealership.
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Offline blur911

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #15 on: April 22, 2014, 03:09:31 pm »
Quote from: wing on April 20, 2014, 07:25:20 pm
Eek you have a free 2012 CTS with 6k on it and you want to trade for a Mazda5?

And he likes cats?

Doesn't like dogs!

I don't think we can help here.  :'(
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Offline PJ

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #16 on: April 22, 2014, 03:36:43 pm »
If you traded the CTS good bet you'd see it on their lot listed at $35k the next day.   Dealers will tell you it's worth squat until you go in to buy a used car.  Suddenly it's in high demand and super low mileage. 

I'll bet they would raise the offered price if they thought you were really serious and willing to walk. 
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Offline evil_twin

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #17 on: April 22, 2014, 03:41:39 pm »
Gosh I'd be tempted to keep such a low mileage example, especially when you know the whole history.

But, given that it won't suit your needs, private sale is the only way to maximize your return.   Dealer trade-in is a convenient service and you pay a lot for it.   Up to you whether it's worth it.

Quote from: java_man on April 20, 2014, 07:01:24 pm
She's more 'Mazda 5, soccer mom' style...plus the 100-lb German shepherd wouldn't fit in the trunk. Between the kids and work, she does a lot of driving, so we're looking for something a little more practical. I've tactfully suggested a Mazdaspeed 3, or the CX 5 but noooooooo. 

Yeah, we're middle-age boring.

Those cars really don't seem much more practical than a CTS sedan.  I guess the hatch configuration is key for the beastly dog eh?  Too bad.   Sell the dog.
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Offline bridgecity

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #18 on: April 22, 2014, 03:55:23 pm »
Quote from: evil_twin on April 22, 2014, 03:41:39 pm
  Too bad.   Sell the dog.

 :rofl2:  That's like asking some people to sell their children.   ;D
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Offline tortoise

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Re: Is 50% depreciation on a 2-yr old Caddy more or less the industry standard?
« Reply #19 on: April 22, 2014, 04:00:29 pm »
Keep in mind you'll save the taxes on the trade so you would need to sell it for more than $25.5k for it to be worth your while.
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