Was thinking of trading my HHR in....
 

Went to Kelly Blue Book today to price the trade in value of my 2007 HHR LT. (Thinking of buying a used Toyota or Honda minivan to haul my grandkids). After doing the all computations - the site gives the value of my HHR as $9500 as a trade in. Doesn't look like I'll be doing any trading soon as I still owe around $15,000 on it. Private party value is only $11,650 so I can't even sell on my own without being upside down. Is it me or do HHR's lose their value really quickly?
:frown:

Yes its been known that they do for sometime now. It really sucks giving they are nice cars and are very fuel efficient.

There are many rentals out there which lower the resale value. On the other hand, I can't think of many cars in which you're not upside down on the value if you finance it for five or six years. I read something - might have been here - that if you buy new, buy Japanese for holding the value. If you buy used, buy American and grab a good deal. I think that's true. Perception is reality. The world thinks Japan makes better cars, so they hold their value better. On the other hand, if I wanted a nice used car, what a great deal on a used HHR is to be had.

It is all supply and demand. In 4 years they sold near 360,000+ units.

With GM still selling them there are more being added every day.

Also there is a large number from Rental fleets going into the system everyear from Enterprise. This already floods a slow used car market.

Around here most 2008 HHRs are selling in the $12K range. The first couple years is the worst to sell a vehicle as they get to a point they will stablize in price. It is not just the HHR but most cars sold in large volumes.

We traded in the wife's '08 and got right at $12K we bought it for $17K about 18 months ago. We got a '09 Toyota Sienna van and drove in on a 2K trip a couple weeks ago averaging 25 MPG with and 30 MPG without the air on and have a ton of room. Personally I don't get auto loans, to me they are a bad investment since cars don't appreciate.

Unfortunately cars are just not investments. They are pretty much a dead loss from the day you buy it. Percentage wise, I'm not sure they lose much more than other cars. If possibe its always best to finance for as short a period of time as you possibly can, and of course buying it for as little as possible.

I guess I did good buying a 08 LT last March for $11,995 with 3000 miles on the clock. Love the 34-36 mpg I average.

Yep, you did good!!!

You have an 07 and still owe $15K on it?

That was my thought....

I paid $5000 cash and a paid off 2003 Explorer for mine a couple years ago...

I was offered $9000 at Carmax for mine last week.....took it and ran.

I had 26K miles The car only cost me a total of $5000 (including tax)to drive for 28 months..Not bad at all. Buying used is the only way to buy American anymore. The depreciation is hideous on a new car unless one plans to keep it for a long time. But after the warranty was up I was too skittish to keep it...

Gas mileage was great....(But I only drive <7k a year) so any car would not cost me much in fuel. (hence why I bought a 6cyc Accord Coupe instead of the 4 banger)