My car has dropped $6500 invalue 6 months

[Chad W]

Has anybody checked the value of your cars latly???
i just went to evry book (black book ,blue yellow etc..)
This car has dropped $6500 in the last 6 months by far the worst car value i have ever owned. I like my car but to lose a little more then a $1000 dollars a month I feel like I'm dealing with wall street. Now they are going to slash the prices even more on the new ones which will drive it down even more. I pickup my Passion 12/27/08 for 20,000.00 in 6 months going back to the dealer it is now worth 12,400.00!!!! So much for taken care of your consumer base.

I'm sorry folks my bad in the heat of the moment I typed the wrong car it is a Cariolet with leather MP3 hook-up, the only add on that would be after market was tinted windows.It didn't even come with floor mats they were $99.00. AGAIN VERY SORRY FOR THE MISS TYPE....

[forestacademy]

Originally Posted by Chad W

Has anybody checked the value of your cars latly???
i just went to evry book (black book ,blue yellow etc..)
This car has dropped $6500 in the last 6 months by far the worst car value i have ever owned. I like my car but to lose a little more then a $1000 dollars a month I feel like I'm dealing with wall street. Now they are going to slash the prices even more on the new ones which will drive it down even more. I pickup my Passion 12/27/08 for 20,000.00 in 6 months going back to the dealer it is now worth 12,400.00!!!! So much for taken care of your consumer base.

Funny I paid Less than $16K for my Passion Back in October.

What did you get on that thing to make it worth $20K?

If you paid a premuim, they why are you trying to ditch it in only 6 months. I can only assume you are trying to sell it because why else would it matter what the "book" shows

Let the Flaming begin

[sato7]

What the heck did the dealer install in your passion to make it 20K???? I think YOU got ripped off by the dealer initially and now you are just figuring it out. Plus the 09s have actually gone up in price I think by 300 or 400 dollars.

[pdboilermaker]

3 things that you need to consider -

#1 everything is down as the ecomomy drags on

#2 much like a stock mutual fund, this is a paper tiger, you havent lost a dime unless you sell, I get so tired of someone saying "I lost $50k on my 401k last year" but they didnt sell their shares, their value did go down, they sold nothing so they lost nothing.

#3 when the price of gas goes back up again, you will see that paper loss shrink

[Kermit]

Picked up your car for $20k? I'm guessing this is your first car you've ever owned or the first one you paid attention to what the price was after tax, tag, title, doc fees, extended warranty, tire protection and everything else the dealer suckered into getting.

I have ONE question......

What does the price on your ORIGINAL window sticker for your Passion say?

That would give everyone something to work off for this thread.

[denisjolicoeur]

In Canada, the smart made the TOP 5 list of the vehicles that hold their value the best.

http://autos.canada.com/news/story.html?id=1698051

[SmartieParts]

I think this is a simple case of someone rounding a lot and/or not comparing apples to apples. As mentioned above, compare sticker to sticker or on-the-road to on-the-road. Comparing one to the other is just nonsensical. Also, obviously any dealer premium you (probably should not have) paid can't be counted. There is no way the smart is "the worst car value [you] have ever owned" unless it is the only car you've owned or you've only bought used in the past (always a good idea). I had an mint '03 Cadillac STS with less than 14,000km (8700 miles) that I bought in '04 for $30,000 even and the list was over $82,000 (all figures Canadian $). Now THAT is depreciation!! What was I doing with a gas guzzling Caddy?

Sigh... don't ask.

- Steven

[Chad W]

please feel free to look it up your self.
2008 passion sliver 7000 miles kept in garage mint loaded.
I understand you have a vested intrest in this parts ect.. but look it up.
don't forget they are lowering the prices of the new ones even more so our value will drop more.

[Chad W]

If this dealer did take me for that much I will take it down like a ton of rocks, Yes I am a sore loser and I don't like being taken advantage of. If what you guy are saying is right then I work nights so my days are free I will sit outside of this dealership in clearwater fl and post my losses on my car to make sure nobody eles gets taken like I did.

[Big Panda]

Originally Posted by Chad W

please feel free to look it up your self.
2008 passion sliver 7000 miles kept in garage mint loaded.
I understand you have a vested intrest in this parts ect.. but look it up.
don't forget they are lowering the prices of the new ones even more so our value will drop more.

But you didn't answer the question; What did you pay $20K for? As someone else said, Passions just aren't THAT expensive. Even a LOADED Cabriolet topped out at $18-19K.

Sounds like you got a bunch of aftermarket accessories (wheels, tires, tint, alarm, extended warranties, tax, tags, etc....) and the dealer jacked up the price to make some $$'s.

If you're comparing prices of what you paid to what is listed in Black Book, or whatever, you need to match their prices with what your smart 'Listed' for, NOT what you paid AFTER add-on's.