I have a 2006 pontiac grand prix it was my first new car why is resale value horrible?

Question

Its been reliable ,great gas milage 24city 30hwy and very attractive fast and fun to drive im going to keep it forever even if i buy another car just wondering why value is like that on it

Answer 1

If people don't think they are worth as much down the road as, let's say, a Japanese car, it's value will go down quicker.

Add to the fact that the Grand Prix had been around, unchanged, for more than just a couple years and isn't made anymore (or won't be soon). It's no longer as modern as quite a few newer cars. It looks dated, and it's not a part of the new wave of "respected" american cars like the Cadillac CTS, the Chevy Malibu, or the Pontiac G8.

However...just because it's not the newest thing, doesn't mean that there's no joy to be had. I've got a 2001 car that gets ZERO respect, but I LOVE it compared to the japanese competition. SO much more soul...but that's just my opinion, and I'm a wacky ind of cat.

Answer 2

Rental car companies and companies with fleet vehicles purchase a ton of these cars just like the Ford Taurus, Chevy Cobalt/Cavalier and Dodge Caliber & Neon.  There are so many on the road, plus, companies trade them in at least every other year so, dealerships tend to fill up with them and the trade value drops.  

Answer 3

They claim one of the big factors is the number of rental cars.  The rental cars don't enter the new market - they pop into the market as used cars, depressing the value of used cars. That would certainly apply to the GP.

Anyway, it's a great car.  You could probably get 300,000 miles out of it easily.  You'll be sick of it long before it wears out.

Answer 4

Because there are lots of idiots out there that think a big sedan with a big V6 is bad in todays economy. They dont believe that the 3800 Series 2 (or 3) that these cars come with can acheive anywhere near that mileage.  

There is also a negative stigma against American cars, as well as GM and especially pontiac even though they make some fantastic cars.

I own a 00 Bonneville and the resale is horrible, but thats okay because if anything, I want another,

Answer 5

credit is tight even new cars are not selling. My 1997 Grand Prix GTP was worth only 4,700 in 2006 new motor/transmission lot's of modifications 3 sets of wheels. American cars just don't hold value very long. Now I have a 2006 GTO and sure enough I enjoy the 400 hp and big V-8 motor but try to sell it a 30,000 car worth about 5,000 trade-in. I don't care as I roar past those Toyota Hybrids..

Answer 6

its a pontiac....i love domestics dont get me wrong but its true

Answer 7

you lose 30% of value as soon as you drive off the dealers lot oh and that is a great car