Anyone else getting a little concerned about resale?

[Crccobra]

These 20 New Cars Will Be Classic Collector Cars

Check out slide number 14, in company with some amazing rides!

These 20 New Cars Will Be Future Classics

 

[Mike_TX]

The resale values have already tanked hard on the Stingers. This time last year the resale values were actually really good. Now they are pretty bad. Not INFINITI bad but still not great.

If you are worried about resell value then lease the car. However, if anyone is expecting to get out of the lease early without a significant loss they are in for a rude awakening.

You have to keep this car for at least three years no matter how you acquired it now. Otherwise you will always be underwater.

No I don't. As I think I've already stated, I DID lease the car. But I usually trade out of leases after 18-24 months (because I like new cars too much and no one wants to do 2-year leases), and the amount I can get for my trade is always a consideration. Underwater? Sure, and the amount I get for my trade can make the underwater amount more or less.

Oh, and why do Ilease? because the monthly payment is less than buying, and I can't see any negative to it.

 

[Mike_TX]

NOPE! Why would I ever worry about a non investment.

I guess I'm completely unable to understand why many of you don't seem to care about what your car will be worth when you trade. And how often you mention investments.

I KNOW a car isn't an investment, for goodness sakes. But when you trade - and almost all of us will trade at some point - it is to your advantage to get as much for the car you're trading as possible. Is that hard to understand? <scratches head>

Some of you sound like all you care about is that you have your car right now and you don't want to look beyond today. Eyes closed, fingers in ears and saying lalalalalalala. But I look ahead, and I try to position myself as well as I can. And if that means it might be to my financial advantage to jump off a ship a little earlier in the voyage, I'll do it. I don't think that's the case right now with the Stinger, but it has happened to other cars in past years and I don't want to be caught with my drawers down.

 

[Dodger Blue]

I guess I'm completely unable to understand why many of you don't seem to care about what your car will be worth when you trade. And how often you mention investments.

I KNOW a car isn't an investment, for goodness sakes. But when you trade - and almost all of us will trade at some point - it is to your advantage to get as much for the car you're trading as possible. Is that hard to understand? <scratches head>

Some of you sound like all you care about is that you have your car right now and you don't want to look beyond today. Eyes closed, fingers in ears and saying lalalalalalala. But I look ahead, and I try to position myself as well as I can. And if that means it might be to my financial advantage to jump off a ship a little earlier in the voyage, I'll do it. I don't think that's the case right now with the Stinger, but it has happened to other cars in past years and I don't want to be caught with my drawers down.

Trade in value is valuable to someone in your position, less so to people who plan on keeping the car until the proverbial (or literal) wheels fall off. I rather enjoy the thought of paying the car off and not having a payment to make for several years beyond that. Whether the trade value goes up or down in the meantime, there's not much I can do about it besides take good care of it, so I prefer to spend my time worrying about other more consequential matters.

 

[RonNSoCal]

I bought mine with a huge discount by going for a new 2019 in January of 2020, so I have no real concerns. Also, we tend to keep our cars for a long time so I do not expect it to be worth much once we are ready to move on to our next new car. People on the Corvette forum are all concerned that the new C8 will result in poor resale for their C6s and C7s, but it is not happening from what I can see. The demand for well taken cared of specialty cars always seems to be there. I recently traded in my C6 Vette and can kick myself for not keeping it and selling it for what it is really worth. I figured it was a solid $22K car with a Kelley cash value of $18,300. I took $17,200 for it as a trade in and the dealer has it on his lot listed at $26K! I would bet he will get at least $24K for it in the end.

 

[MerlintheMad]

Some of you sound like all you care about is that you have your car right now and you don't want to look beyond today.

Easy to explain: I see you as wanting best return more than you want to enjoy driving a Stinger beyond an acceptable depreciation point. I am in the category that luuuvs driving my Stinger today. Tomorrow may never come.

 

[Nasscar]

I won’t be selling my Stinger anytime soon. RWD high performance ICE cars are going to become rarer in the near future. Dying breed. I’m keeping mine.

 

[Nasscar]

Easy to explain: I see you as wanting best return more than you want to enjoy driving a Stinger beyond an acceptable depreciation point. I am in the category that luuuvs driving my Stinger today. Tomorrow may never come.

Live for today hey Merlin. I agree totally.

 

[Travis Wills]

Oh, and why do Ilease? because the monthly payment is less than buying, and I can't see any negative to it.

Try to get out of your Stinger lease early. You will quickly see how far it is down the depreciation curve already. Getting out of a Stinger lease early was a viable option last year. Now? Not so much.

 

[Travis Wills]

I bought mine with a huge discount by going for a new 2019 in January of 2020, so I have no real concerns. Also, we tend to keep our cars for a long time so I do not expect it to be worth much once we are ready to move on to our next new car. People on the Corvette forum are all concerned that the new C8 will result in poor resale for their C6s and C7s, but it is not happening from what I can see. The demand for well taken cared of specialty cars always seems to be there. I recently traded in my C6 Vette and can kick myself for not keeping it and selling it for what it is really worth. I figured it was a solid $22K car with a Kelley cash value of $18,300. I took $17,200 for it as a trade in and the dealer has it on his lot listed at $26K! I would bet he will get at least $24K for it in the end.

You will always need to sell a car like a Corvette private party or try one of the online retailers like Carvana. Dealers don’t give you anything for used cars anymore.

 

[GenesisG70]

But seriously guys I should open a Kia debadging business I could be making tons of money and never worry about my car depreciating ever again.

 

[Sime]

Resale had always been the last thing on my mind, I don’t buy a car with any thoughts of selling it 5-7 years later.

 

[Pumbaa]

For real car lovers, that's kind of a sad point of view. I don't view cars as appliances or necessary evils. To me, they're exciting and fun, and I look forward to the new body styles, engines, and technology that comes almost every year. And yes, I usually get as much car as I care topay for.

Oh, and I DO lease ... I just trade out of my leases about every 18 months or so., because there's always something new and shiny out there!

Sounds similar to that way I have gone through "wives"... HAHA

 

[Pumbaa]

Resale had always been the last thing on my mind, I don’t buy a car with any thoughts of selling it 5-7 years later.

Yep, I buy a CAR based on WHAT I like in the HERE and NOW, same as people say " I am not doing any MOD's cause you will never get back what you paid for them when u sell the car.. blah blah... " Well I MOD my CAR for me, because I want to.. If i'm lucky enough to get some money back one day when I sell it, then that's a bonus..

It's like saying oh "I don't want my WIFE or GF to get a BOOB Job, because other guys might look or the next guy gets to play with them when I'm no longer on the scene"... Well DUH, she gets one if she wants one because it makes her happy and you get to PLAY with THEM NOW !!!!????

 

[jazzdabb]

If you approach cars as basic transportation, then anyone spending more than about $20K is wasting money.

Top 10 Cheapest Cars for 2020

I do like both the Forte and the Soul from that list, though the higher trim level I'd choose would be less cost conscious. Everyone I know who owns a Fit says they are the best car they have ever owned and most car mags seem to agree.

That said, I certainly didn't NEED a car that costs as much as the Stinger, gets 19 MPG or goes zero to sixty in 4.7 seconds. I WANTED a car that had 4 doors, decent cargo space, looked good AND did zero to sixty in 4.7 seconds. I could have gone with a Buick Regal (which I might have if the local dealer had met my price) and saved money. I also could have gone for an Audi or Benz and spent substantially more and faced a much higher TCO (and the styling of both leaves me a bit flat, frankly). Choosing the Stinger felt like the sweet spot and the cost to performance value is high, IMHO. I'm still happy with my purchase and expect to be for some time to come.

 

[Travis Wills]

I bought a Stinger GT2 for myself and a 2020 Rio for my son last year. The Stinger is the single best car I have ever owned. The Rio is probably second. For the price the Rio is just unbeatable. They practically give those cars away now and they are excellent vehicles.

 

[Mike_TX]

I freely admit I'm fickle. I love cars, but after about a year with one, my eyes are roving. There's just too many good cars out there, and too much attractive new tech and other features. Yes, I fall for the carrots mfr's dangle out there. lol.

And while I like the way my car handles and the power it has, it hasn't been the best car I've had. I've had some issues with it, and that also affects my thinking.

If the mfr's were smart, they'd offer 1-year leases for people like me. That would generate lots of low-mileage trade-ins and would help churn new cars through the system. Dealers make their money on pre-owns, so it would benefit them, too. I'd love to get a new car every year!

 

[Waynerm002]

Mike, you know you just want to get that 2021 Optima with the 2.5T. You will have at wait a little longer though. If they bring the Stinger with the 2.5T this year and have the Optima GT ready at the same time, which way would you go? Will we be discussing which to get in the Optima and Stinger forums in the future?

My first Stinger wasn't the best put together car but I still loved it and now with the 2019, I love it even more. With KIA announcing the 2021 Optima with a larger screen and wireless Apple CarPlay and Android Auto, that is tech I would love to get in the face lifted Stinger, would I trade up? Maybe.

 

[Mesmorino]

I guess I'm completely unable to understand why many of you don't seem to care about what your car will be worth when you trade. And how often you mention investments.

I KNOW a car isn't an investment, for goodness sakes. But when you trade - and almost all of us will trade at some point - it is to your advantage to get as much for the car you're trading as possible. Is that hard to understand? <scratches head>

Some of you sound like all you care about is that you have your car right now and you don't want to look beyond today. Eyes closed, fingers in ears and saying lalalalalalala. But I look ahead, and I try to position myself as well as I can. And if that means it might be to my financial advantage to jump off a ship a little earlier in the voyage, I'll do it. I don't think that's the case right now with the Stinger, but it has happened to other cars in past years and I don't want to be caught with my drawers down.

The problem is that you're in the minority around here. You seem to consider the future value of a car, an acknowledged depreciating possession, to be a material factor in purchase considerations, and for many of us (again, on these forums) it's simply not.

If you at all care about the future resale value of a car, you should simply lease it (yes I see that you do lease cars), and then it's not an issue for you. For me, I want to own the thing. I genuinely do not care how much it's going to be worth in 3, 5, 10 years. I like the car, I want the car, and in ten years I'm not going to care that it's "only" worth $6k. At that point I've gotten TEN YEARS out of it, anything I get out of it at that point is an absolute win. I'm most likely going to drive it into the ground.

With the Stinger in particular, being concerned with its resale value is a non-starter. No matter how awesome the vehicle is, the brand itself still doesn't have that great of a reputation. They've really turned things around in the last few years, but I think it's gonna take a generation or two before people talk about Kia like they talk about its competitors. They've made two brand new models, (the Stinger and the Telluride) and one of them might be discontinued.

If resale/trade in value of a car is a significant factor for you, then you shouldn't have gotten a performance car, and you definitely shouldn't have gotten a Kia. You should definitely bail out now, because (in my opinion) it is unlikely to get better. As Stinger owners we chose the car because we liked the car, not because it had strong resale value, I'm pretty sure it never really did. It's not so much that we don't want to look beyond today, it's just that for this car, it doesn't matter because it will be whatever it will be, and whatever it will be probably won't be great.

 

[Mike_TX]

Mike, you know you just want to get that 2021 Optima with the 2.5T.

Well, not so much, Wayne. I think I DO want the 2.5-liter engine, but not necessarily in an Optima. My two Optimas were very tight, well-built cars (which I can't really say about my Stinger), but I'm not completely sold on the styling changes. And I'm not crazy about the styling of the Sonata either, and maybe not even the G70!

You will have at wait a little longer though. If they bring the Stinger with the 2.5T this year and have the Optima GT ready at the same time, which way would you go? Will we be discussing which to get in the Optima and Stinger forums in the future?

Good question. The wife groans every time she gets out of the Stinger because it sits so low, and my old bones creak a little, too, so I'm not sure which way I'll go. As I mentioned in another thread, the upcoming 2021 Acura TLX is looking pretty good. I've had a bunch of them in the past and they were always trouble-free, and their 3.0-liter V6 looks really good at this point.

My first Stinger wasn't the best put together car but I still loved it and now with the 2019, I love it even more. With KIA announcing the 2021 Optima with a larger screen and wireless Apple CarPlay and Android Auto, that is tech I would love to get in the face lifted Stinger, would I trade up? Maybe.

Whoa, I wasn't aware wireless CarPlay and AA was in the works. That would be nice! I DO want the bigger nav screen, and this time I will definitely get a 360-degree camera. I had that in my Optimas, and I ain't getting another car without it. Either way, I'll be trading in the next few months, and I don't know at this time which way I'll go.