Edmunds.com has listed the outgoing model-year ’04 Chevrolet Corvette as one of ten popular vehicles that are now available at near record low prices, as customers gravitate toward the new 2005 C6 Corvette. Edmunds lists the Corvette as transacting at thousands less than its retail price, and advises that such deals are especially good for buyers who want to hold on to the car for a long time. In the shorter term, such deals aren’t as good as they sound, because the previous body style will likely depreciate faster at first.
(Press Release Below)
Screamin’ Deals Available on Popular 2004 Vehicles as Model Year Ends, According to Edmunds.com
SANTA MONICA, Calif. — October 25, 2004 — Edmunds.com, (http://www.edmunds.com), the premier online resource for automotive information, today listed ten popular vehicles that are available near record low prices as the 2004 model year draws to a close.
To compile this list, Edmunds.com’s automotive experts examined each vehicle ‘s incentives and True Market ValueSM transaction price. Currently, the following models can be purchased for thousands of dollars below sticker
a.. 2004 BMW 325i Sedan
b.. 2004 Cadillac DeVille
c.. 2004 Chevrolet Corvette
d.. 2004 Dodge Dakota
e.. 2004 Ford Mustang
f.. 2004 Honda Odyssey
g.. 2004 Nissan Pathfinder
h.. 2004 Subaru Legacy
i.. 2004 Toyota Tacoma
j.. 2004 Volvo S40
“Some of the best discounts are offered when the manufacturer is introducing an enhanced, redesigned version for the next model year, as is the case for many of the vehicles we listed,” observes Phil Reed, author of Edmunds.com’s Strategies for Smart Car Buyers. “This type of shopping is better suited to bargain hunters than trendsetters.”
Reed added that any consumer who plans to keep a vehicle only a short time should think twice before picking up such a deal, because the older model year vehicles will not hold its value as well. The older model’s depreciation rate is especially bad for owners when the new model looks quite different, is more powerful or has superior safety equipment. To maximize the resale value of their vehicles, consumers should consider opting for safety equipment, leather seats, in-dash CD players and other popular features.
The biggest bargains – and the worst depreciation – will apply to models that are being discontinued and for those painted in trendy colors that don’
t appeal to mainstream buyers.
Consumers can easily check the incentives in their area by visiting http://www.edmunds.com/incentives/RebateController?step=0, and can look up the regional True Market Value prices for new and used vehicles of interest as well as highlighted “Deals of the Month” at http://www.edmunds.com/products/tmv.
About Edmunds.com, Inc.
Edmunds.com is the premier online resource for automotive information. Its comprehensive set of data, tools and services, including Edmunds.com True Market Value® pricing, is generated by Edmunds.com Information Solutions and is licensed to third parties. For example, the company supplies over 800,000 pages of content for the auto sections of AOL and NYTimes.com, provides weekly data to Automotive News and delivers monthly data reports to Wall Street analysts. Edmunds.com was named “best car research” site by Forbes ASAP, has been selected by consumers as the “most useful Web site” according to every J.D. Power and Associates New Autoshopper.com StudySM and was ranked first in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal. The company is headquartered in Santa Monica, Calif. and maintains a satellite office outside Detroit.