Did the value of our LX's just tank

[mark3830]

Man, with all the dealerships being shoved out, what's next. I don't mind driving as far as I need to...to purchase a car. but, driving 20 miles there and 20 miles back for service sucks. I'll never be able to sell my car and get any real value for it now. And the Kelly Black Book values will certainly find a new, lower value. Should we all trade now to keep from losing even more?

[Zoban]

Honestly it don't matter what ya drive at the moment they are alll tanking Value wise at the moment..

If yer happy with yer car.. Drive it and Enjoy it..

I didn't buy the Mag for it re-sale, Looks and Versatility are why I bought it..

[Electrofreak]

Yeah, with Chrysler falling apart at the seams, our cars are a tough sell right now.

Doesn't matter to me. I didn't buy it to sell it. Gonna drive it 'til it gives up the ghost.

[Super T]

if you bought an American car and had any expectation of decent resale, the joke was on you from the start. Many Americans haven't forgiven the Big 3 for building absolute crap from the mid 70's to the early 90's, and b/c their perception of US quality hasn't caught up to the quality, the resale is inherently junk. I bought my car for just under $45,000... TWO DAYS LATER (Monday) I tried to re-fi w/ my bank and out of Chrysler Financial... they could only finance the car for $29,500 b/c it's technically used. 34% - $15,500 - in just 48 hours.

Don't worry bout the resale man. Drive it as long as it works and you like it!!!!!!

[PGH Magnum]

Just? It tanked before the rear wheels got over the curb!

[injunwiz]

That's the reason I bought a creampuff used low mile car. Mine was 38K new and fully loaded, I bought it from a dealer for 17K. Someone else lost the $21,000 not me.

[Iguanaman]

IMO-

Did you buy it to drive it, or to send it through the chutes at Barrett-Jackson or the RM auctions in 25-40 years? If you bought it to be a future museum piece, park it, don't drive it. But I think these cars were made to be enjoyed. So enjoy it, and don't worry about the resale. Besides, it's not like some of the limited-edition muscle cars of the 60s and 70s...there were TONS of our cars made, which lowers the potential collecter values in the future anyway. So don't :panic:...

E N J O Y! :banana:

[viper3ez]

tanked? thats a good thing. if i could afford it, i'll go get a second one.

get rid of it? hellz no. too much fun

[Sublimeon22s]

As stated, these LXs tanked the second you drove it around the corner from buying it...........Great deals on low mileage SRT's in the low $20k range everywhere now it seems

[John_the_Bruce]

Drive it and enjoy it. I doubt that parts will be an issue for many years to come...

[tmaivs]

Man I love my 300, i'd never sell it for anything!!!!

[FloridaRT]

I plan to keep my Magnum for a long time...............................

Bob

[paxton]

Can't worry about resale values right now...unless you've got to get rid of it for some reason. Drive it, mod the crap out of it and enjoy it for what its worth!

[srt8_hmi]

My first Charger I bought was a Go ManGo Daytona. Paid 31,000 for it put 9,000 miles it, wrecked it and traded it in with the insurance check. $28,000 trade-in!! If you want good reidual value buy a Challenger!! Or a Honda..

[Appleseed]

I'm with you guys on this one. Re-sale value is a non issue. Best balance between cost and newness IMO is a 1-3 year old low mileage car. Nothing like a new car I know, but like Injunwiz said, let someone else lose the initial depreciation and enjoy a near new car at a heavily reduced price.

By the way, who's likes the LXs so much that they have 2 currently? My wife's 2000 Regal might someday turn into another 300.

[poptones]

I have mine right now because of that low resale value. I needed a new car and was sick of buying junkers so I decided to set a budget. When I saw I could get a Magnum in that budget that was all I needed to justify it! I paid around 11K for a cherry V6 model and more and more it's looking like I got a very good deal. The fact I probably couldn't get 6 grand for it if I traded it right now means nothing to me - why would I sell it? If I get as many miles out of this one as I got out of the Mustang I'll be one very happy (and old) camper.

[CDesmondO]

Don't know about anyone else, but mine tanked as soon as the dealer filed the paperwork. Maybe even before that. But I plan on keeping mine for a while......unless a great deal on a Benz AMG falls in my lap.

[BlackRT313]

Just out of curiosity what do you guys think my resale value is on my 09 R/T R&T?

[Iguanaman]

By the way, who's likes the LXs so much that they have 2 currently? My wife's 2000 Regal might someday turn into another 300.

Yeah, my wife was sitting in 300s at the Chicago Auto Show...she wants a vanilla one.

[TYT300]

Doesn't matter much to me. I love my 300.

[SnowgodCCR]

Yeah, the value of the LXs has been tanking since $4.25 a gallon last summer. I'm planning on keeping my car for some time, but I don't like being THIS far upside down...I paid a shade over $22k back in october 2007, still owe like...some stupid amount because I'm getting raped by interest...I'm pretty sure I'm about $10k upside down now, especially with the 90,000 miles on the car. I'll be keeping my car until at least 2013 when its due to be paid off, and likely (almost guaranteed really) until I'm through with school and residency. Doesn't mean I'll still be driving it every day - I'm still ogling late 80's Porsche 951s because I sure do like 35mpg and go cart fun.

[cleary524]

Drive it like you stole it...enjoy!!! Buy a 2nd hand one, w/ low miles. Let someone else pay for the initial depreciation. Bought mine last year for $14.5k, sold my previous Buick Regal for good $$ and used to pay it down. Only owe $2.5k and the interest is tax deductible if you arrange your finances the right way (i.e; LOC on your house) :-) That's the real way to go...no lienholders too! Besides, the LX's are way too fun to drive...why trade now! GL

Besides, you can always sell at the price you want...you just have to find that right person who wants it bad enough, they'll pay nearly your asking price.

[hop2000]

I agree with most that have posted before me. Our cars have been tanking in resale price since they were driven off the lot. I bought mine used in Feb. of 2007 with only 18,000 miles on it for $20000 out the door. Less than two years before that someone paid $37000 for it. Before I did a major 402 makeover I was considering getting a new Chally with all of the rebates and financing going on, then starting looking at trade in value. I would have been luckly to get $14000 for my car that was in near showroom condition.

I decided at that point to just put some money into this car and get it exactly to where I am happy with it. Rather than sink a lot of money into a new Dodge that will lose it's value just as fast (if not faster) than my Magnum.

[poptones]

Its a two edge sword aint it? I don't see how any of the car companies are going to sell many cars right now. Soon as they make a trade-in offer most folks are going to realise how screwed they are getting and how much they are going to lose on a new one. I thought it was kinda nuts when I paid over 20K for my new 87 Mustang - the thought of paying over 40K for a car just seems insane to me.

[IES99]

Its a two edge sword aint it? I don't see how any of the car companies are going to sell many cars right now. Soon as they make a trade-in offer most folks are going to realise how screwed they are getting and how much they are going to lose on a new one. I thought it was kinda nuts when I paid over 20K for my new 87 Mustang - the thought of paying over 40K for a car just seems insane to me.

The rising prices (MSRP) have me stumped. The difference in MSRP for a 2009 300C and the 2006 I bought in July, 2005 (similarly equipped) is about $4,000. I know with the discounts offered now, it is actually a little cheaper than what I paid, but why the increase beyond inflation rate? For fun I priced out a Mustang GT convertible: well equipped mind you: more than 40K. Yikes.

[LUVMYRT]

Doesn't matter to me. I didn't buy it to sell it. Gonna drive it 'til it gives up the ghost.


Same here. Not worried about resale since I'm gonna drive it till the wheels fall off. I've never bought a car thinking of resale down the road since I've driven them all until they were junk or donated them.

[WileERobby]

If anyone's concerned with resale value, you might as well go read Consumer Reports & evaluate the washing machine comparisons. But... if you got a car that you love (like my 300), such as our LX cars, just drive 'em & enjoy 'em !! I don't buy a car thinking about what it will be worth later on. I buy it 'cause I LIKE IT... period.

[WileERobby]

And another thought. If you got a performance car now, keep it. If not, get one. 'Cause President Socialist is gonna have everybody driving cars with hair-dryer engines in a few years.

[QwickSilverC]

I bought my 06 300C srt8 just couple weeks ago and got a good deal and it only has 22,000 miles on it but I bought it to keep. My gf always ask how many cars do you need.