xcel
10-23-2008, 09:10 AM
When car brands go away, the service continues but your value can dry up. (http://money.cnn.com/2008/10/20/autos/buying_a_dying_brand/index.htm?cnn=yes)
http://www.cleanmpg.com/photos/data/501/2004_Oldsmobile_Silhouette.jpgPeter Valdes-Dapena - CNNMoney - Oct. 22, 2008
$30,000 for a 2004 Oldsmobile Silhouette, $8,000 today.
Adding insult to injury, stay away from domestics because the manufacturer may disappear? -- Ed.
NEW YORK -- With all the problems in the auto industry, you may wonder if the car brand you're thinking about buying today will be around tomorrow.
The bottom line is this: "You should stick with the strongest brand," advises Robyn Eckard, a spokeswoman for Kelley Blue Book, which tracks automotive values.
It's not what could go wrong with your car while you own it, she said. It's what happens when you want to unload it…
Where it really hurts
The real impact for owners of Oldsmobile and Plymouth vehicles was that their cars' resale values plummeted after the brands died.
What happened with Oldsmobile was that the used car values of Oldsmobile dropped a lot quicker than for brands that were still in business.
A year after each brand went out of existence, a two-year old Oldsmobile or Plymouth suddenly had the value of a five-year-old car, according to Kelley Blue Book… http://money.cnn.com/2008/10/20/autos/buying_a_dying_brand/index.htm?cnn=yes
Thanks for the find Michael!
http://www.cleanmpg.com/photos/data/501/2004_Oldsmobile_Silhouette.jpgPeter Valdes-Dapena - CNNMoney - Oct. 22, 2008
$30,000 for a 2004 Oldsmobile Silhouette, $8,000 today.
Adding insult to injury, stay away from domestics because the manufacturer may disappear? -- Ed.
NEW YORK -- With all the problems in the auto industry, you may wonder if the car brand you're thinking about buying today will be around tomorrow.
The bottom line is this: "You should stick with the strongest brand," advises Robyn Eckard, a spokeswoman for Kelley Blue Book, which tracks automotive values.
It's not what could go wrong with your car while you own it, she said. It's what happens when you want to unload it…
Where it really hurts
The real impact for owners of Oldsmobile and Plymouth vehicles was that their cars' resale values plummeted after the brands died.
What happened with Oldsmobile was that the used car values of Oldsmobile dropped a lot quicker than for brands that were still in business.
A year after each brand went out of existence, a two-year old Oldsmobile or Plymouth suddenly had the value of a five-year-old car, according to Kelley Blue Book… http://money.cnn.com/2008/10/20/autos/buying_a_dying_brand/index.htm?cnn=yes
Thanks for the find Michael!
