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Trade Value = no bueno

mrcleeaan

Registered Member
147
125
43
Genesis Model Type
Genesis G70
The stinger GT2 values have been dropping like a rock... I’ve seen a few relatively low mileage version CPO list in the low 30’s. I’m assuming you could find a private sale GT2 for $28k - 30k easily; looking forward to G70 used buying opportunities next year.
I'll give you a good deal next year on my G70.
$39,999.99. 😆
 

Cgo

Registered Member
278
331
63
Genesis Model Type
Genesis G70
For comparison, KBB lists the trade value of a 3,000 mile BMW 330i MSport with some options at $37 to $40k.

MSRP new is 48k.
 

Avocent

Registered Member
18
6
3
Genesis Model Type
No Genesis Yet!
I'll give you a good deal next year on my G70.
$39,999.99. 😆

Currently I have found used g70 3.3's Loaded with everything but AWD going for 40k with less than 3k miles. Also if you Live in Michigan there doing EPP employee pricing for all MI residents and have the cars listed in the very low 40's (41-43k). Flucatuations in price are bound to occur as people learn how to shop cars at more than there local dealer.

I think I may lease to try and avoid the depreciation blues unless I can find a super deal on a used one.
 

Rmsanger

Hasn't posted much yet...
100
88
28
My guess is this time by next year we'll be seeing low mileage 3.3T G70's popping up for $30k or just under. If we hit a recession then $25k is within reason. Genesis will also be bending over backwards on incentives for new vehicles so they can drive cash flow to fund the construction of these stand alone dealerships.
______________________________
 

tarhoosier

Registered Member
244
242
43
Charlotte
Genesis Model Type
Genesis G70
The idea that a gently used nearly new auto must be heavily discounted in order to sell, and may not sell at all due to seller resistance to price discounting, was expressed most clearly here:
The Market for Lemons - Wikipedia
The buyer knows not the hidden conditions though the seller does know. The buyer discounts due to his knowledge asymmetry. This drives out the better nearly new cars and leaves the remaining less qualified cars in the market, discounting price even more. This works with other durable goods such as computers, appliances and so on. The Magnusson-Moss Act (lemon law) sprang from this research. It is not so stark today perhaps, with internet research, Carfax, web reviews and so on, but the price for lightly used nearly new vehicles is still less than the assumed remaining utility of said vehicle.
Bad quality drives out good, not just in money (Gresham's Law) but products of many kinds. Sellers accept lower price or exit the market.
 

UberGen

Registered Member
27
11
3
Virginia
Genesis Model Type
No Genesis Yet!
Looks to be about a 10 to 20k depreciation right off the lot depending on how good a deal you get.

I need to stop buying brand new cars...
The swift & severe depreciation is common with new vehicles. Never buy a new car unless you intend to own it a long, long time. :)
 
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