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Prices Paid: Buying & Leasing Experiences Chevrolet Impala Prices Paid and Buying Experience
203 messages, Last post on Feb 09, 2008 at 1:14 PM
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When will the 2008 Impalas start showing up at the dealerships? Isn't it usually around October when the new models get out to the dealers? Has anyone placed an order for an 08, and, if so, how much in relation to invoice did you have to pay? Might consider an 07, so would like to know what people are paying vs. invoice for the 07s. There is a $1000 GM rebate on the 08s, right? Is that good on the 07s as well? I have an 04 LS that I have been very pleased with and would like to get a new one. Wish I could get a deal like I did on the 04! GM had two separate rebates, the dealer sold at invoice, and GM was kind enough to "round off" my GM Card earings of $1300 up to $2000. All together, I got the car for just shy of $8500 below MSRP! Thanks. Tom
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Replying to: tsjay (Aug 11, 2007 6:35 am) The 2008 model year Impalas are at dealers now. A quick search at GM Buy Power based on zip code 42101 shows several. You didn't indicate which trim, so I did a search for any 2LT models available. Dealers would probably be much more willing to offer discounts on leftover '07's then they would an '08. The '08's have a $1,000 rebate that expires on Sept. 4th. The '07's have a $1,500 rebate until Sept. 4th. Based on info online a fair price for an '07, before the rebate is applied, would be invoice. For an '08...invoice plus $500, before rebate is applied, seems to be the current price range. The Impala depreciates quickly. You may make out much better finding a low mileage certifed pre-owned Impala and save several thousand dollars. For example, I purchased my '06 2LT new 13 months ago. I was able to get over $2,000 off sticker price and 0% financing. It is now valued at $13.5K. It has depreciated $8K in 13 months. Thank goodness for 0% financing! I usually get a new car every 3 years, and I will need to maybe go 4 years on this one to "break even". Certainly no mainstream car can be considered an investment, but the Impala is much worse than other cars in its class in terms of depreciation.
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Replying to: ryster (Aug 12, 2007 7:57 am) I'd have to agree that most cars depreciate faster than others unless you are buying a Honda or Toyota however it seems that always comes with a higher cost.
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Replying to: geffen (Aug 12, 2007 8:30 am) That would almost make up for the initial depreciation when buying new. As soon as you drive a $22K Impala off the lot, it is going to instantly lose at least $4,000 in value. Buying pre-owned could also mean almost a $100 per month savings on a 48-month loan payment. Hondas and Toyotas may seem more initially (not by all that much actually), but when you look at the value of the cars after 36 or 48 months, the Hondas and Toyotas retain more of their initial value. Therefore you "recover" some of your initial investment when you trade it in. |
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It may be easier to illustrate with numbers: 2007 Impala LTZ w/sunroof has a sticker of $28,020 Invoice price is $26,959. With the $1500 rebate, you may be able to buy for $25,459 Put 10% down and finance $22,913 2007 Toyota Camry XLE w/heated seats and stability control has a sticker of $29,770 Invoice price is $27,009 With dealer discounts, you may be able to buy for $27,834 Put 10% down and finance $25,050 Assuming a 48-month loan at 6% Impala $538 per month Camry $588 per month Approximate value after 48 months Impala $9,526 Camry $12,503 Cost to drive the car 48-months (excluding fuel, insurance, maintenance, etc.) Impala $538 X 48 = $25,824 + $2,546 down payment + $18,494 depreciation = $46,864 - $9,526 value = $37,338 Camry $588 X 48 = $28,224 + $2,783 down payment + $17,267 depreciation = $48,274 - $12,503 value = $35,771 The Camry owner bought a car that was about $2,500 more initially, however after all is said and done the Camry owner will have spent $1600 less because they have a car that held more of its value. |
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Thanks Ryster and Geffen. I don't dispute at all what you are saying about depreciation and cost of ownership, Ryster, but I just plain LIKE the Impala. If I trade at all, it will almost certainly be for an 07 or an 08 Impala. Buying a low mileage used Impala is something else that makes a lot of sense, but no one ever accused me of being smart.  I LOVE NEW CARS! Car salesmen have named children after me. Dealerships have named cubicles after me. There are many college educated children of car salesmen, thanks to me. Now, I do my research and all, and I get the best deal, or very close to it, but I have just traded way to often over the years. That last new car buy, the Impala I currently own, was a deal that I could NOT pass up. Like I said in my first post, I got almost $8500 off of sticker, with the two active GM rebates at that time, my GM Card earnings, and the fact that the dealer sold the car at invoice. Tom |
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I took my college age daughter to check out the Impala SS she wants. She and her dad had been to the Central FL dealer the day before to check out the Impalas. They didn't have an 07 in the color she wanted but they knew where to get their hands on an 08 within an hour. The 08 has a sunroof and polished alum wheels($795.00!) which we didn't want-actually we wanted an 07 not an 08 to begin with. The MSRP was $32000.00. We have bought 2 other vehicles there so they gave us 871.00 off as a returning customer and 1000.00 off for the rebate. I guess because they had to get the car from another dealer the salesman told me THEY had to pay the MSRP price for the car and they were only making $495 on the car. We left. The manager called yesterday and I told him why we didn't buy and he promised to check out the numbers and call back but he never called back. Should I even bother going back to this location and try to get a different salesman? I am willing to drive as far as West Palm Beach or Jacksonville to get a good deal. I read the info about faxing bid requests but I don't have a fax machine. My husband sent out for the "online quotes" and sales people have been calling but they aren't giving any quotes they just say they have the car we want to come to their lot to check it out. I am not driving 2 hours away for another MSRP quote!
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| '07 LS can be had for about 18 to 18.5. I think no matter what the trim level you will get about 15% off list. | |
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Replying to: impalaquest (Sep 12, 2007 6:16 am) If the dealer calls you instead of Emailing you a price, tell them on the phone "Please send me your BEST price via Email as I originally requested. I am a serious customer and ready to buy. If you send me a competitive price I will call you back and arrange a time to meet. Also confirm in the Email that the specific car I am interested in is in stock and ready for delivery." That will help weed out the good dealers from the bad ones. Good ones will respond, bad ones will ignore you. Also, try sending your quote requests through gmbuypower.com. You will receive survey requests from GM for each dealer that you send requests to. If you don't like how they are treated, you can blast them on the surveys. The last 3 cars I have purchased have been through the Internet sales departments of the dealerships I dealt with. The pricing on all 3 cars was VERY good as the Internet guys work a little differently than the floor sales guys. Also, carsdirect.com is another good source to see what cars in your area can be purchased for. I usually compare that number with the Edmunds TMV. If the dealer's price is similar to the pricing from those 2 sources then they are probably giving you a good deal. A $32K '08 Impala SS would have every conceivable option on it! The invoice price would be around $30,200. A price of $29,500 (inclusive of the $1K rebate) is what I would be looking to see for such a model. Good luck with your search! |
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 I am looking to purchase an Impala: LS/LT, 25-35k milage and will be paying cash for the vehicle. My question is how to determine the negotiation range for the vehicle. It appears that the retail value in my area is ~ 25-35% above the suggested trade in values posted on KBB and others. For example: $15,500 retail with 10,500 trade-in value. Because I'm paying cash and will go with the remainder of the factory warranty, there is very little room for a dealer to make additional profit from me. Any suggestions and any ideasas to whether I can get the vehicle for as little as $500-$700 above trade-in or, more likely, reduce the retail value by ~20% to begin negotiation. THANKS!!
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