Resell value sucks... Why? - Pontiac G8 Forum: G8 Forums - G8Board.com
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post #1 of 77 (permalink) Old 01-03-2017, 03:19 PM Thread Starter
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Question Resell value sucks... Why?

First off let me say that my 2009 G8 GT is my favorite car I have ever owned. It is very well built and the performance for the $$$ is phenominal.


however, Since I purchased my G8 GT in October '16, I have seen the values plummet. less than 6 months after paying 15k for a 98k mile GT, I am now seeing G8's in the same condition/mileage for 10k-12k. When will it stop? how low will they go?



Meanwhile, guys with the GXP are asking high $20's or low $30k. Makes me think twice about putting too much money in mods... resell value is crap!!!
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post #2 of 77 (permalink) Old 01-03-2017, 03:34 PM
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That might be because most of those you referenced are probably not a one-owner car, have been "personalized" to the point of only being worth that amount and have been rode hard and put away wet. I would think that a single-owner original G8, gently used, would command above that.
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post #3 of 77 (permalink) Old 01-03-2017, 03:38 PM
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What should an 8 year old domestic car be worth in relation to its original MSRP?
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post #4 of 77 (permalink) Old 01-03-2017, 03:53 PM Thread Starter
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I understand Value depends on lots of factors, including condition, number of owners, desirability, availability. However, I would expect the G8 to hold its value similar to a Camaro SS, SRT8, CTSV...

Take for example the Jeep srt8 2009, which still sales for close to 30k blue book.
2009 Charger srt8 still commanding close to 20k.

If the value drops any lower the g8 gt will be the same price as a L76 crate motor!!!!
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post #5 of 77 (permalink) Old 01-03-2017, 03:59 PM Thread Starter
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Originally Posted by MGMGXP View Post
What should an 8 year old domestic car be worth in relation to its original MSRP?
Lets see:
take the square root of the MSRP, multiply that by the sum of owners, - Accidents, divided by number of times street raced.... Carry the 1....

I have no clue!
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post #6 of 77 (permalink) Old 01-03-2017, 04:11 PM
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Originally Posted by blackg8smatter View Post
I understand Value depends on lots of factors, including condition, number of owners, desirability, availability. However, I would expect the G8 to hold its value similar to a Camaro SS, SRT8, CTSV...

Take for example the Jeep srt8 2009, which still sales for close to 30k blue book.
2009 Charger srt8 still commanding close to 20k.

If the value drops any lower the g8 gt will be the same price as a L76 crate motor!!!!
Well, for one you're quoting all the models which are much more comparable to the GXP rather than the GT. Look up the mid-range models for those cars and see what they're worth for a better comparison. Also, Pontiac is no longer around whereas all the others are sill cranking out new models. The type of people that are willing to pay more for that are the type who are likely to take their vehicle to the dealer anytime they need something.

I'm honestly impressed that the GTs have kept up their prices so well. Most of the other Pontiac cars dramatically dropped in value after Pontiac was shut down.

Besides, resale value only matters if you are planning to sell it. Daily driven cars are not investments and I personally will take a high mileage G8 over a lower mileage Honda any day. But I'll admit that I don't buy cars with the expectation of selling them within a couple of years. I spent a long time looking for my G8 and I have no intentions of selling it for many, many years, if ever.
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post #7 of 77 (permalink) Old 01-03-2017, 05:22 PM Thread Starter
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The G8 GT was a good deal at less than 30k new, but I am still disappointed in the resell value.


Maybe if I had bought a low mileage GT or a GXP I would plan on keeping it forever. I bought this one to commute and occasional track days, after I use her all up, I will replace her with something new and fun.
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post #8 of 77 (permalink) Old 01-03-2017, 05:27 PM Thread Starter
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Well, for one you're quoting all the models which are much more comparable to the GXP rather than the GT. Look up the mid-range models for those cars and see what they're worth for a better comparison. Also, Pontiac is no longer around whereas all the others are sill cranking out new models. The type of people that are willing to pay more for that are the type who are likely to take their vehicle to the dealer anytime they need something.

I'm honestly impressed that the GTs have kept up their prices so well. Most of the other Pontiac cars dramatically dropped in value after Pontiac was shut down.

Besides, resale value only matters if you are planning to sell it. Daily driven cars are not investments and I personally will take a high mileage G8 over a lower mileage Honda any day. But I'll admit that I don't buy cars with the expectation of selling them within a couple of years. I spent a long time looking for my G8 and I have no intentions of selling it for many, many years, if ever.
I always assume that I will sell a car eventually. Except for my 1964 Thunderbird.
You have a GXP!! You can drive a GXP for a year or 2 and damn near sale for what you bought it for.
I would keep it for years and years too! GXP= Good investment! G8 GT... not so much. But its fun!
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post #9 of 77 (permalink) Old 01-03-2017, 05:59 PM Thread Starter
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I guess the timing of the release and Pontiac closing did play a big factor. The announcement scared many people away from the brand.... I remember in 2009 when i test drove a new G8 GT and the dealer offered me $5000 off MSRP of 28k...

Now 8 years later, the Chevy SS which is almost same as G8 GXP (MSRP 37.5k) , goes for 5k above MSRP of 46.5k. Go figure!
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post #10 of 77 (permalink) Old 01-03-2017, 06:47 PM
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I'm not sure what you are complaining about really. Any vehicle, no matter how rare is going to go down in value if it's a multi owner higher mileage car. Considering all of those the fact that it's only gone down about 50% from new I'd say is pretty good.

I paid $25k for mine about 4 years ago and bet I could still get $20k+. I would say that is pretty dang good!
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post #11 of 77 (permalink) Old 01-03-2017, 07:58 PM
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There will be a period where people who don't know what they got will sell thier g8 gt for less and people who do know what they got will sell for more. I am one of those people who love my GT and wouldn't even consider a number under 18 and I'm at 75k on the odometer.

I think there's a good chance of our cars values going up over the years. There's no more Pontiac and now there is no more Holden. Getting parts is getting harder and as that happens, the value of parts goes up. Which I'd think would make our cars be worth more. And as people total theirs or lose them some otber way, there will be fewer and fewer g8s to come by. Hence increasing their value. Supply and demand. And as long as there is a demand for the g8 , the value should at least hold if not go up due to less supply.

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post #12 of 77 (permalink) Old 01-03-2017, 08:31 PM
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Unfortunately, the GT is not the desirable model. Like others have said, a one owner GXP, thats all original, is what will always be worth some money. ESPECIALLY a manual.

Honestly, I would never buy a multi-owner GT with mods. No offense to you guys at all, but you had to know what you were getting into with buying a used, mid-level, American-ish, performance sedan and then modding it. Value always plummets.
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post #13 of 77 (permalink) Old 01-03-2017, 09:05 PM
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If you check just the 5-year depreciation of most vehicles on KBB, Edmunds, NADA, etc you will find that the G8, in comparison, has faired well. Considering the current cost of equivalent vehicles eight years hence from when it was new in 2009, considering it still looks almost new with 72K on it, was garage kept, has no door dings from Walmart parking, and considering that I spent a disproportionate amount of my time taking care of it for its next owner, and it looks it, considering that it is quite possible that there are more Ferraris in North America than there are G8s left, considering all of that, and...just its curb appeal as you walk in and your eyes fall upon it, anyone who knows cars would see the value of it and would have no trouble stroking a check for its fair market value. Which is not $12,000. Far from it. Fair market value is an amount that the owner and the buyer would agree on when neither the owner or buyer are under any pressure to either buy or sell. Possibly the prices that you reference were produced by a seller who was under economic duress. Or the G8 was a piece of ****. Unfortunately, there are some of those out there. If for some reason I end up having to unload mine I still shall not have my hat in my hand. All you have to tell them is this: "If you don't buy it the next guy that walks in here will. And you don't want to have to live with that regret for the rest of your life, do you? Next person that speaks loses.

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post #14 of 77 (permalink) Old 01-03-2017, 10:17 PM
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Hmmm. Cars value going down... weird...
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post #15 of 77 (permalink) Old 01-03-2017, 11:00 PM
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Originally Posted by blackg8smatter View Post
First off let me say that my 2009 G8 GT is my favorite car I have ever owned. It is very well built and the performance for the $$$ is phenominal.


however, Since I purchased my G8 GT in October '16, I have seen the values plummet. less than 6 months after paying 15k for a 98k mile GT, I am now seeing G8's in the same condition/mileage for 10k-12k. When will it stop? how low will they go?



Meanwhile, guys with the GXP are asking high $20's or low $30k. Makes me think twice about putting too much money in mods... resell value is crap!!!
I work at an auction and lb for lb next to corollas, civics, accords, camrys and some 4x4 stuff the G8 even the V6 hold their value very well!
This is seeing it through 8 years of auction experience.

trust me, go to a dealer only auction one day if you can, audis, BMWs Mercedes Volvo and SAAB go for penny's! I see 9 year old G8s still going for $15-25K and sometimes dealers don't make much on them, they just like having them on their lots
I almost purchased an 06' AMG for $12K, consider the cost at a dealership when new...
Now look at a G8 GT non sport going for "GM Sales blow out" $27,000 NEW and still selling for around $20+ with low mileage today

I won't be selling mine any time soon so I don't really care with the exception of needing $$$$$$ for an emergency I know I could offload it.
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post #16 of 77 (permalink) Old 01-04-2017, 08:29 AM
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I paid 16 for one with 75k White Slick top 19" wheels and Red and black interior. In October.
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post #17 of 77 (permalink) Old 01-04-2017, 09:15 AM Thread Starter
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Originally Posted by NIevo View Post
I'm not sure what you are complaining about really. Any vehicle, no matter how rare is going to go down in value if it's a multi owner higher mileage car. Considering all of those the fact that it's only gone down about 50% from new I'd say is pretty good.

I paid $25k for mine about 4 years ago and bet I could still get $20k+. I would say that is pretty dang good!
I'm complaining about the current resale value of the G8 GT, and thinking I should've waited a couple of months and got a better deal.

Sounds like you got in at a good time!
Nice!
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post #18 of 77 (permalink) Old 01-04-2017, 09:16 AM Thread Starter
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I paid 16 for one with 75k White Slick top 19" wheels and Red and black interior. In October.
That sounds about right. I would say you got a good deal.
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post #19 of 77 (permalink) Old 01-04-2017, 09:19 AM Thread Starter
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I am generally referring to the typical high mileage, several owner G8 GT.
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post #20 of 77 (permalink) Old 01-04-2017, 09:26 AM Thread Starter
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Originally Posted by TonyKarter View Post
If you check just the 5-year depreciation of most vehicles on KBB, Edmunds, NADA, etc you will find that the G8, in comparison, has faired well. Considering the current cost of equivalent vehicles eight years hence from when it was new in 2009, considering it still looks almost new with 72K on it, was garage kept, has no door dings from Walmart parking, and considering that I spent a disproportionate amount of my time taking care of it for its next owner, and it looks it, considering that it is quite possible that there are more Ferraris in North America than there are G8s left, considering all of that, and...just its curb appeal as you walk in and your eyes fall upon it, anyone who knows cars would see the value of it and would have no trouble stroking a check for its fair market value. Which is not $12,000. Far from it. Fair market value is an amount that the owner and the buyer would agree on when neither the owner or buyer are under any pressure to either buy or sell. Possibly the prices that you reference were produced by a seller who was under economic duress. Or the G8 was a piece of ****. Unfortunately, there are some of those out there. If for some reason I end up having to unload mine I still shall not have my hat in my hand. All you have to tell them is this: "If you don't buy it the next guy that walks in here will. And you don't want to have to live with that regret for the rest of your life, do you? Next person that speaks loses.

I am looking at KBB, NADA, car gurus and cars.com. Also I am looking at high mileage, several owner cars, not garage queens. I don't think the g8 GT resale value is doing good in comparison. However, I think the G8 GXP is doing great!
Either way, I love my GT and it is very well built.
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