Ouch!!!

[Barstoolman1127]

https://bringatrailer.com/listing/2022-cadillac-ct5-v-blackwing-60/?utm_source=dm&utm_medium=email&utm_campaign=2024-07-19#comments-anchor

 

[pmsteinm]

Seems like the seller was expecting too much for a nearly 3-year-old car that is probably 1/2 way through the warranty when you can get a new one for ~20k more. Once the car is out of production then it will probably do better on holding value. Sad to see that the car mostly sat around instead of being enjoyed.

 

[CBH]

Yeah, while you can (mostly) still get your own brand new one, I wouldn't expect anything crazy for used ones.

 

[savethemanual]

I would happily upgrade if I could find a blue one for that price.

 

[NorCal Blackwing]

That's bang on the KBB value for that car.

 

[BimmerFan]

If I didn't already have a car, I'd probably have bought (or at least bid on) that one. It's well optioned, I like the color (although I suspect some think it's too subdued) both inside and out, and of course it has the correct number of pedals.

I think the thing here is that we keep forgetting that this is a very expensive car, and there is a limited market for people who want a $100K high performance sedan that is not European and, of course, Cadillac. Many of those people who want such an animal have already bought it.

Also there are some people (myself included) who would prefer to buy a car like this new, rather than used, not knowing if those 1200 miles were put on a 1/4 mile at a time.

 

[VSforever]

I would have bid on this car had I not pulled the trigger on mine a week prior. No need to say ouch, as it did not sell for that price. Add in the 5% BAT fee, and it is close to where the market is anyways. Plenty of used ones in the 88-92k range these days. These cars will hold value better than 99% of other cars out there, what more can we ask for?

 

[dinkman]

im already getting the itch... as soon as the title/registration for my ct4 comes in I feel like I'm going to be trading it for the 5 lol. this one would have been a good option if the timing was better but of course we have no idea what the reserve was set at

 

[Barstoolman1127]

I would have bid on this car had I not pulled the trigger on mine a week prior. No need to say ouch, as it did not sell for that price. Add in the 5% BAT fee, and it is close to where the market is anyways. Plenty of used ones in the 88-92k range these days. These cars will hold value better than 99% of other cars out there, what more can we ask for?

Definitely an “ouch”. The amount of people that paid over sticker and continue to believe this Car will appreciate, in the near term, put it on the “ouch” list. I’m guessing you’re one of those.

 

[Barstoolman1127]

im already getting the itch... as soon as the title/registration for my ct4 comes in I feel like I'm going to be trading it for the 5 lol. this one would have been a good option if the timing was better but of course we have no idea what the reserve was set at

The reserve was obviously set too high

 

[BimmerFan]

Definitely an “ouch”. The amount of people that paid over sticker and continue to believe this Car will appreciate, in the near term, put it on the “ouch” list. I’m guessing you’re one of those.

I suspect that a fair number of sellers with these very low mileage cars bought them with the intent to flip for a profit. In those cases I have zero sympathy for their loss.

Enthusiasts who buy these cars, even at a premium, buy them to enjoy, and therefore to them, the premium is worth it. We all know (or should know) that they are going to depreciate once production matches up with demand.

 

[NorCal Blackwing]

I suspect that a fair number of sellers with these very low mileage cars bought them with the intent to flip for a profit. In those cases I have zero sympathy for their loss.

Enthusiasts who buy these cars, even at a premium, buy them to enjoy, and therefore to them, the premium is worth it. We all know (or should know) that they are going to depreciate once production matches up with demand.

With those miles, it seems like an attempt to unload a car bought to flip. It seems like a correction is happening and even though I stand to lose out, it can't come soon enough. Those guys are the reason dealers had ADM and why enthusiast cars in general have been unattainable.

 

[VSforever]

Definitely an “ouch”. The amount of people that paid over sticker and continue to believe this Car will appreciate, in the near term, put it on the “ouch” list. I’m guessing you’re one of those.

People paid over sticker because of supply and demand. I got mine for 11k off MSRP, no I am not "one of those." I bought it to drive and enjoy. The Ct5V Blackwing is not the S&P 500 last time I checked.

 

[Barstoolman1127]

People paid over sticker because of supply and demand. I got mine for 11k off MSRP, no I am not "one of those." I bought it to drive and enjoy. The Ct5V Blackwing is not the S&P 500 last time I checked.

 

[rubberduck]

People paid over sticker because of supply and demand. I got mine for 11k off MSRP, no I am not "one of those." I bought it to drive and enjoy. The Ct5V Blackwing is not the S&P 500 last time I checked.

That’s amazing, $11K off on a new 5BW. The last 2 weeks my BW outperformed the S&P
500.

 

[BimmerFan]

That’s amazing, $11K off on a new 5BW.

I suspect that he bought it used.

 

[FLYARMY]

If you were able to get a new 5BW at MSRP , that was a good deal. If you were able to get one for UNDER MSRP.....that was a GREAT deal ! I have also learned that you need to use galves.com to get a fair and current value of cars today. KBB is not in the buying and selling business and they can be all over the place with values. Galves is a site that monitors what cars are ACTUALLY bringing at auctions all over the country. Most dealers use this site BEFORE they give you an offer on a trade in. Galves is usually higher than KBB and the lower offer is what the dealer will throw at you, knowing pretty closely to what they can sell your trade at an auction.
I used Galves to negotiate selling my 2018 Chev ZR2 Colorado. I paid $43k for the truck and was able to get $40k from AutoLenders ! The truck was 3 years old and had 19,000 miles on her. This was during Covid and trucks/suv's were hard to get. I used the money to put down on my 5BW.

 

[division]

I suspect that he bought it used.

It was used, as per his previous posting. Given, it had eight (8) miles on it (as per his post), but it's still a used purchase. As much as the market has softened, you ain't getting $11k off a new CT5-V Blackwing.

 

[rubberduck]

It was used, as per his previous posting. Given, it had eight (8) miles on it (as per his post), but it's still a used purchase. As much as the market has softened, you ain't getting $11k off a new CT5-V Blackwing.

How is it possible for a used car to have 8 miles on the odometer. Mine was new and had 6 or 7 miles which seems pretty common based on my experience.

 

[division]

How is it possible for a used car to have 8 miles on the odometer. Mine was new and had 6 or 7 miles which seems pretty common based on my experience.

I wondered the same thing. Either way, he didn't get it for "$11k off MSRP", he bought a used CT5-V Blackwing for the current market price.