Sudden value drop!?

[Mikeygoolsbay]

So everynow and then I check what my 13 sonic RSis worth on Kelly Blue Book. Well to months ago it said it was worth around $18,000, but last night I looked and it's only worth $13,500?! Any body know what this is. I have 21,000 miles and I only out 2,000 miles on it since last time I checked. It just sucks that now the car isn't even worth what I owe..

 

[Wooksquatch]

My guess is the 2015's are going to be hitting dealer lots pretty soon. That would definitely cause some massive drops.

 

[Mikeygoolsbay]

But a $6,000 dollar drip? I just find it kind if strange

 

[Eric Smit]

It's been happening since they came out. they're inexpensive subcompacts. they're not going to hold their value like a 40 year old Harley.

 

[mja]

ya, from a non-enthusiast and uneducated perspective its a 15k$ new chevy. which i love the brand and car, but that equates to cheap junk to most of the earth, demand isnt there. id expect to see that value drop by half within 5 years. LT and LTZ models ive seen sell for 10k$ with less than 40k miles

 

[draco_m]

So everynow and then I check what my 13 sonic RSis worth on Kelly Blue Book. Well to months ago it said it was worth around $18,000, but last night I looked and it's only worth $13,500?! Any body know what this is. I have 21,000 miles and I only out 2,000 miles on it since last time I checked. It just sucks that now the car isn't even worth what I owe..

Right now you can buy a 2014 Sonic RS with a $1,500 rebate and about another $2,000 dealer discount. So a brand new one can be had for as little as $18,000. So if a new one is $18,000 then a used one with 21,000 miles is probably worth about $13,500.

Cars depreciate very fast - especially if the manufacturer starts offering significant discounts on new ones.

Don't feel bad. You own and awesome car and it should last many, many years!

 

[SuperFudd]

It's age just doubled, from one year old to two years old.

 

[Mikeygoolsbay]

Right now you can buy a 2014 Sonic RS with a $1,500 rebate and about another $2,000 dealer discount. So a brand new one can be had for as little as $18,000. So if a new one is $18,000 then a used one with 21,000 miles is probably worth about $13,500.

Cars depreciate very fast - especially if the manufacturer starts offering significant discounts on new ones.

Don't feel bad. You own and awesome car and it should last many, many years!

I guess it's just because I came from a lifted jeep which apperently hold there value pretty well even with the ridiculous amount of stuff done to it. But I just figured the RS would hold its value a little more since there aren't as many of them and I payed a little over 20 for it

 

[Mikeygoolsbay]

Never mind I just remember I paid like 19 for it

 

[dkennedy1989]

I guess it's just because I came from a lifted jeep which apperently hold there value pretty well even with the ridiculous amount of stuff done to it. But I just figured the RS would hold its value a little more since there aren't as many of them and I payed a little over 20 for it

I'm in the same boat as you, I have an RS and the same thing happened for its value. I looked around and even asked dealers why it dropped so much in the past couple months, ford and Chrysler dealers said we're saying because of all the recalls from gm were affecting the values. On top of that there isn't much of a resell on an RS because not many people want them compared to an lt or ltz.

David