Pontiac GTO Prices Paid and Buying Experience

sputterguy · April 2005

That's why there are lots of '04's left on the lots. That attitude. I guess some Dealers just don't learn. Here in San Jose I never took a test drive because they wouldn't come off their Dealer Markup. But they did offer to let me test drive one. Heck, they practically begged me to drive one. Of course I did pull into the Dealer in my pristine '98 GTP with 45K miles on it. They were practically falling over themselves offering me stuff. Everything but moving off the Dealer Markup. I finally found a Dealer in Colma that was selling for $500 over invoice. I must have driven 5 or 6 different GTOs before I decided on a Silver 6-speed. That was when the leases first came out. So I went for the lease. And before the deal was complete, the first $2K incentive came out. So I have a 4 year lease at $402 per month and I put $800 down.

Sorry I ended up talking about my buying experience. My advice to you is to find another dealer. And be patient. They will be coming out with incentives at some point.

hammen2 · April 2005

Pontiac sold 1375 GTO's last month, with the only incentive being the $1k "March Madness" which did not apply to any 2005's (cars had to be on the lots I think 120 days). I don't know the breakdown of '04's and '05's, but, at only 12k/yr, and March still being a bad weather month for half of the U.S., I wouldn't be so sure that we'll see much in the way of incentives on the '05s. Not going to see any new incentives on the '04's, I wouldn't think.

oakster · April 2005

You do need to shop around. Went to one dealer in MA this Saturday that wanted to sell me a car w/150 miles of test drives. They were great and let me drive the car w/no problems. I was serious about buying the car and wanted to deal but they wanted too much money. Sales people were great but the sales manager didn't want to budge. He told me the car was rare and there were several other dealers trying to get this car that would pay at least what I was offering. The GTOs seem to be finally moving but this was too much of a line for me. Would have paid what he was asking if the car had no miles but everyone wants to drive these cars for the thrill but few end up buying one.

Pontiacs site shows all the inventory at dealers in the area so I walked and drove 15 minutes to the next dealer that had the same car I was looking for (cyclone gray 6 speed). Walked into Pride Pontiac in Lynn, MA @5:30pm. Was greeted by a nice salesman. Told him what I wanted to pay, he asked me to write a check for the deposit to show him I was serious which I did. Went to his sales manager who told him the car was on the site but still in transit. Spent 5 minutes with the sales manager and we negotiated a great deal. Paid hundreds less and I get a car right off the truck instead of a 150 mile demo. One of the quickest deals they have made in a while. I feel for the sales reps at the other dealer b/c the manager lost a quick sale.

These are great cars and I wouldn't expect any major incentives because they are starting to move despite zero positive press.

Had another dealership I drive by everyday tell me when I first went in to just look at the car that they weren't sitting on the lot for more than 48 hours. I laughed b/c I drive by everyday and the same exact cars are still there. Sold one or two but not w/in 48 hours.

Shop around is my advice but don't expect them to be giving the 2005s away.

sputterguy · April 2005

I know, the '05s seem to be selling well. I'm just hoping there will be something in the way of incentives so I don't have to pay to much of a premium to get into an '05.

sensai · April 2005

There is a $1000 off on the 05s now, but unless you can get financing close to as low as GMAC was offering through the end of March (0% on 36 months, 3.9% on 60 months), then it actually comes out to more than before...

lowflier · April 2005

I just had a great buying experience yesterday on an '05 Yellow/Black A4. They had no problem letting me test drive. I found it with 22 miles on the clock and put another 9 on during the drive. I kept this newborn to no more than 3500 rpm (even though the dealer told me not to be afraid to "drive" it). 3500 rpm had me merging on the highway at 80 and having to idle to avoid over-running traffic in front of me.

The sales guy started out with that shallow, phony demeanor that I absolutely detest, then threw me $1000 off MSRP and $21,500 for my '03 SVT Cobra. I really wanted to get past that shallow connection I had so my wife and I lured them away from the numbers for awhile. We started talking about how business was going at the dealership, my wife asked about her family, we talked about hobbies and pasttimes, and even managed to joke and kid a little bit. Soon we had them offering another $1000 in a "hot button" discount. The new car price was getting close but I told her she really had to sharpen her pencil on the trade because a dealer down the street had offered me substantially more (not a bluff). She asked me where she needed to be but, in a nice way, I stayed with "more than that". Edmunds valued my trade at $22,100 (22,150 miles in "clean" condition) and the offer from the other dealer was $22,500 with no firm number on the GTO. She came back with $22,800 and offered me the 1.9% for 36 months on the difference (which I didn't think I could get because of the $1000 cash allowance). The car is sitting in my garage this morning.

Final Deal:
MSRP: $34,295
Dealer Discount: ($1,000)
Cash Allowance: ($1,000)
My Price: $32,295

Trade-In Allowance: $22,800

Difference + Tax + Doc Fee + Title = $10,335 @ 1.9% = $295.81/mo for 3 years

I know it may not be the absolute best deal, but I drove away feeling like I got a fair deal and the salesperson made a little money too.

What do you folks think?

cccompson · April 2005

It shouldn't matter what anybody else thinks if you're happy.

lowflier · April 2005

It doesn't - and I am. I guess I was really wondering how the deal stacks up against other deals being made out there.

cccompson · April 2005

From what I've seen here (and on other site), a $1000 dealer discount on an '05 GTO is no big deal with invoice (or near) and supplier pricing available in some markets. That said, pricing really does seem to be dependent on location, lowflier. Thus, without knowing where you are, it is impossible to be more specific.

The important thing is that YOU are happy with your price.

Enjoy!

redacr · April 2005

Congrats, but I must ask...
What made you get rid of the cobra?
i've driven an 03' and it made me wet my pants..
ahh, the whine of a blower!!

midwesttrader · April 2005

Just read elsewhere that GM has updated the order cut off for the '05's. Final consensus is now April instead of March and the cut off for sold orders is April 21st. Final build date remains June 10, and '06 startup date remains August 24th.

cccompson · April 2005

The Columbus Dispatch has an interesting ad today. Dennis Pontiac is offering a 2004 GTO for only $27,490! This is based on an MSRP of $33,190 minus $1000 GM Hot Button Rebate and less $4700 "Dennis Discount."

Sooooo, with the $5000 final payout they received on the car from GM, they are still trying to net more than MSRP for the vehicle at this late date.

I test drove this particular car last December when it had about 100 miles on it. Now I understand why they still have it.

jpstax1 · May 2005

That's too bad about your experience at N / S. May I suggest taking a ride to Marquardt Pontiac on Barrington Road (just north of Dundee)? The sales people there couldn't be nicer. I was getting my car serviced and decided to walk up stairs to see if there were any new Goats in the showroom. The first thing I saw was a beautiful '05 (blue one) parked near the stairs. I immediately sat down in the driver's seat. Later on I opened the hood and drooled all over the LS2. However, no one came over and bothered me. I actually had to walk over to a sales rep to ask him some questions. He was a young guy who owned muscle cars (Camaro SS and Mustang GT) in the past, and was VERY knowledgeable about the Goat. What a treat it was to talk with a fellow car enthusiast.

jak7 · May 2005

I went looking at some cars this weekend and stopped in front of a GTO. I had no idea what kind of car it was till I asked. The body style grabbed my attention. I pulled up in my Nissan Maxima which is already a quick car in my eyes. I told the salesman I was just looking and had no clue what kind of car I wanted. He pointed me to the GTO and said if you want to have fun lets go take this car out. He did this knowing I wasn't ready to buy that day. (Sunday) I ran the piss out of the car and really liked it. I am looking at it very seriously. The only issue I have is the bad interest rates that GM is offering. Other than that the car was a lot of fun.

gottabgto · May 2005

I have access to the employee discount from GM.
Mentioned that to a dealer and he said the GTO is not covered under that.
The discount is 5%.
Anyone know if that is true or was this guy just blowing smoke?

hammen2 · May 2005

Not technically true.

GM employee (GMS pricing) is offered on the GTO - if you're an employee, log into GMFamilyFirst and then access the special version of GM BuyPower which will show you the employee pricing.

Dealers are _not_ required to sell you a car at GMS pricing. Many wouldn't, at least initially. I'd strongly suggest shopping around for a dealer that will... most of them have gotten smarter since last year (but there are a few who are still not offering GMS and/or are trying to mark up the cars over MSRP).

--Robert

442man · May 2005

The GTO is covered under the Employee discount. I got my 2005 GTO using my employee discount with no problem at all! Tell the dealer you will go somewhere else then.

roland747 · May 2005

I emailed a Pontiac dealer about taking a test drive in a Midnight Blue/Black Leather/Automatic 2005 GTO. The internet sales manager sent back a quote (including VIN) for $20,188 + tax, title, and license. Can I force them to actually give me this price?

johnbirdman · May 2005

I don't think you will be able to use a typo in an e-mail as a legally binding contract. What are GTO's really selling for these days? Last I heard dealers were asking for about $1000 off MSRP. Let us know what the correct quote is when you get it roland747.

simba2 · May 2005

The local dealer has a black 2005 on the lot, first one that I've seen at that dealership. I looked at it today and noticed they have a $2500 added dealer markup sticker on it. Looking at the Pontiac website I see there are at least 8 more GTO's within a 75 mile radius. From what I've read hear I should be able to buy a GTO for less than MSRP. Are dealers really getting a premium for these cars?

hammen2 · May 2005

Depends where you are. I have heard that you are more likely to see MSRP and above pricing in the L.A. and Las Vegas areas, as well as South Florida. If you're somewhere in the Midwest, no way.

I personally would never pay more than MSRP for any new car. Strongly suggest you check other dealerships.

GM's "offer employee pricing to everyone" deals start on June 1. Of course, this may not be as good a deal as you might think, since rebates will either go away or be significantly reduced...

--Robert

simba2 · May 2005

Thanks. I'm in north Alabama. There are several dealers that have cars in stock within a short drive. I'll check them out.

kernick · June 2005

is what I would be offering. The dealer buys the car for near invoice; at least the ones already on their lot; and this new employee discount is a rebate.

So I'd guess a good deal would be Invoice minus the Employee Discount rebate.

danf1 · June 2005

The employee discount is not a rebate. It is a pre set price on the invoice of all GM cars. Ask to see the invoice, and the price listed is what you will pay. It is a firm number and can't be negotiated. You still do get any applicable rebates available at the time of purchase on top of the set price.

outsidah · June 2005

I am very seriously considering trading in my EVO for a GTO, however the Pontiac dealers are already working their magic. Upon asking about a test drive on the phone, I was already told they don't give any. Only for "serious buyers" after a credit check!

Yeah right... no one is going to touch my credit to test drive a car. I dont want to feel like I have to argue with a dealer just to test drive a car!

hammen2 · June 2005

They are stereotyping you based on their knowledge that you have an Evo. Since you're talking to them on the phone, they assume you are 21 and foolish. Bad assumption, I know, but that's a lot of sales people.

If you are under 30/35, might do better to:

a) use GMBuyPower to see if the dealership even has a GTO (many don't - with only 12k being built, they are selling, and dealers seem to struggle to keep 1 or 2 around). Be aware that a car will show up on GMBuyPower when it leaves the docks in California, not necessarily when it gets to the dealer.
b) Dress up nicely - no jeans - at least a polo shirt and nice khaki's, if not a shirt and tie, when you walk into the dealership.

If the sales rep gives you any guff, walk away and ask to speak with the general manager. If you get no satisfaction, walk away and go to another dealership! Regardless of your age, they will probably lowball you on your trade - it may be best to sell it outright, if possible. Try to find out what the "Black Book" (not Blue Book, Black Book) value of your car is - or go post on the "Real World Trade-In Values" thread over on the Smart Shopper board.

May I ask where in the U.S. you are located?

--Robert

outsidah · June 2005

thanks for the tips and info... funny part is, this was over the phone... no mention of my EVO yet! LOL!

I'm used to this though... same thing when I was trying to pickup the EVO.

I'm in Miami, FL.

justgreat47 · June 2005

when you give the dealer your driver's license before a test drive (that's the routine in sounthern connecticut) they will run a credit check on you. not a bad thing...unless your credit stinks. jackg 90seville 97k

outsidah · June 2005

I'm pretty sure running a credit check without your authorization (as you state) is illegal.

And running a credit check is a bad thing if youre not sure of taking the loan. Every hit on your credit counts ya know.

magnumforc · June 2005

Bought my Phantom Black w/ black interior '05 for $31,200 minus the $1000 rebate making it $30,200 and Zero percent financing for three years in late May right here in Southern CA. About a hundred bucks better then the GMS employee deal and as of June 1 the Zero financing went to 6.5 percent I hear. Down side was having to leave the car there to get "detaailed" and coming back 24 hours later to a car thatr was just about as dirty and hadn't even been gassed up. Had to have it detailed before I could even take it to work and show it off. Great car, poor buying experience.

lhess · June 2005

that would prevent me from driving across town to pick up a $10 GTO or a $50 Corvette. One of my friends works at the GM dealership here in town. I went to look at an 04 black GTO 6 spd. The looks completely turned me off and I ended up with an rx8. My friend costantly ribs me that I could have had a 350 hp GTO for less than I paid for the 8. I always say, "Yeah, but Mazda is actually glad to have me as a customer and I get good service rather than excuses when I need it!" Worth way more to me than an extra 100+ horses that I can't use on public roads.

pod · June 2005

I have the opportunity to purchase (from a small local auto sales place) a repossessed black 2004 GTO automatic with 5K miles. A SS dual exhaust was installed by the former (and only owner) and a fender has been replaced "due to damage during repossession towing". The car appears to be in excellent shape and runs well quite like other 2004s I have test driven. The asking price is $21.9K which is on the fair side of the distribution of dealer prices I have encountered. What do present owners think about the price and is there any cautionary advise given the fender replacement claim? Thank you.

straycat · June 2005

Picked up new black/black manual GTO tonight from Ed Morse Pontiac in Sunrise, Florida for GM employee price plus $250 dealers fees. All arranged by e-mail prior to arrival. Dealer and staff could not have been more accomodating and pleasant. The car is awesome!!

elkiii · June 2005

Yup, some dealers are pretty crappy. Seems especially true of GM dealers though. Had a very good experiance when I bought my RSX 2.5 yrs ago. Checked out Lexus, BMW, Infiniti at the same time. Most were well informed and friendly.

Maybe its because GM is jerking them around on the GTO or maybe the volumes are so low they just don't care. After all, selling small numbers of $250,000+ exotic cars with a $40K markup is one thing. Selling small volumes of a car with a smaller markup than a Bonneville is something else entirely.

rcc442 · June 2005

Thank you, straycat, for your post! I was wondering how much the local dealers were getting for "dealer fees". While I don't care for "dealer fees" at all, the $250 you paid is certainly less than the $400+ charged by some in South Florida.
Also glad to hear that Ed Morse plays "straight" with buyers. I visited Sheehan 2 weeks ago, and they were still bumping up the Employee price with their own "add-on's" such as paint sealant.

I would really like to take advantage of the Employee pricing, because it would be the only way to get a "fair" price in South Florida. I am eligible for the GM Supplier discount, but I cannot use my GM Card earnings with that discount, however GM Card earnings CAN be used with the Employee pricing. Alas, I am building a new home right now and just don't have the cash today. Plus I still need to sell my '96 Impala...

rcc442 · June 2005

Think it's just human nature... after selling so many cars with little profit, it's normal to want to get as much as possible for the ONE car the have for which demand may actually be higher than supply. That's certainly the case here in South Florida. After all, why "give" the car away for less than you can get from another buyer? Isn't that the "free market" working at its finest?

Of course, I agree that pricing and how a customer are treated are two separate things. While they have every right to get as much for the cars as they can, they certainly shouldn't be rude to potential customers. While I would never buy from Sheehan in Lighthouse Point FL because of their pricing, even though as one of the largest dealers they get more cars than other dealers, they have never been smug or rude to me... they just won't the let the cars go for what most of us would consider a fair price.

I also can't fault dealers for not offering test drives to anyone who walks in the door. Ideally, I would like to buy one fresh off the car carriers... one that someone else hasn't driven harshly in its first 100 miles (I still believe there is such as thing as a "break-in period").

straycat · June 2005

I had exactly the same experience at Sheehan Pontiac. The salesman couldn't believe I wasn't willing to eat their supplemental sticker and pay an additional $1,000.00 over the GM Employees price. The jerk said, "this GM Employees Program is the best thing GM ever offered" and I said. " the problem is you're not offering it."

Salesman at Sherwood Delray Pontiac was no better. Automatically added 1k for pin stripping, undercoating etc. even though it wasn't even added to the car.

Passed on contacting Coral Springs due to a problem with the service department on our Pontiac Vibe. No other dealer had car readily available.

If you are interested go to Ed Morse Sawgrass website, and look for female internet salesperson--she and the finance person were truly outstanding! If you speak to her tell her we're the family that got the black/black 5 speed GTO on the very rainy Thursday night 6/23/05. They also sold a midnight blue and impulse blue that same evening.

The car is not to be missed. This dealership is head and shoulders above the others. A Corvette with a back seat for $10 k less. We weren't planning to buy just now, but the offer was too good. If you can work it out definitely go for it!

rcc442 · June 2005

Yeah, well, I guess greed runs in the family... as you might expect, "Sherwood" in Delray Beach is Sherwood Sheehan, the brother of the guy who took over Sheehan Pontiac from the father....

Thanks again for the info; I was actually interested in the Impulse Blue one at Ed Morse, which, as you said, was sold the evening you bought...

Best of luck with the car! (I may decide to opt for a leftover 2004 if I can get it under $25k, and then minus GM Card earnings...)

elias · June 2005

just picked up a cyclone grey 6-speed at tulley pontiac in Nashua NH.
price was 30268. i had found it on gmbuypower a few months ago and 'reserved' it the day after 'employee pricing' was announced.
previously i've been a z28 owner (85, 89, 94, 96, 00) & 1977-firebird-305-owner.
i australia!

Kirstie_H · June 2005

A reporter is interested in speaking with someone who has purchased a GM vehicle using the current GM Employee Discount promotion. If you are interested in speaking with this reporter about your purchase decision, please contact Pam Krebs, Edmunds.com PR, at pkrebs@edmunds.com with a phone number where you can be reached. The reporter needs to speak with someone today. Thank you

mparis1 · June 2005

no GTOS are being advertised in new york city...all gone have to go outof town...heard that there all gone now......word in street...gas station guys/ drive allongs/ street people....."heard about this car....WOW...is it that fast...looks good....hhear you can't get one...." car has become like a celebrity sighting..................i luv it...

hammen2 · June 2005

...if the "Employee Discount For Everyone" promotion is extended, as has widely been reported, you most likely won't see the GTO on it.

If there are '05's (or even leftover 04's) stagnating on dealer lots, it's a dealership issue, not a lack-of-sales/lack-of-interest one...

--Robert

rcc442 · July 2005

Anyone have any idea how much the dealers are making on each GTO when they are sold with this "Everyone Gets the Employee Price" promotion? My guess is that it is different from when a GM Employee went in prior to June 1, and asked to buy one under the real Employee Price program. Since the Employee Pricing shown is less than Invoice, GM must be paying the dealer some kind of incentive, over and above the hold-back, I would guess.

(Reason I'm asking is because I "can't" buy one now. But, if I know how much the dealers are making on each GTO sold under this promotion, perhaps they'd accept that same profit when I'm ready to buy an '06 next year.... Hey, anything to help in the bargaining process, right?)

elias · July 2005

rcc442, you are asking about information which is private between the dealer and the manufacturer. each dealer has their own contract & price schedule for the cars. in general the dealer pays less than "invoice", more so for high-volume dealers.

rcc442 · July 2005

Thanks for the reply... Since, as you say, each dealer has their own contract, it helps to explain how some can sell for less than others.

My question was more pointed to the Employee Pricing promotion. Seems to me that on a large-scale program like this, GM would be simply paying the dealers a flat amount per car model in addition to the margin. For example, just throwing out hypothetical numbers, let's say that a particular dealer normally pays 7% below invoice for a given car model. So for each car sold, he makes whatever the difference is of the selling price and that 7% below invoice figure. (Then at the end of the year, he also gets his "hold-back" check.) But for this promotion, since GM is setting the sale price, wouldn't it make sense that GM is then paying a flat $800 (or whatever) to the dealer, to help make up the difference between the Employee Price and what the dealer might normally sell the car for? (Thus, the dealer's profit would be the difference between what his own contract price is for the car and the Employee Price, plus whatever this "flat" amount GM is paying as part of the promotion (plus his hold-back).)
Now, since we can look up the invoice price and compare it with the so-called Employee Price, if we just knew, ballpark, how much GM is paying the dealers for each GTO sold under the Employee Price promotion, we would know what a "fair" price to offer a dealer is... in other words, what price is worth doing business at.... without really knowing his true "profit", because we don't know what his contract says he pays for the car, and we don't know what GM-to-dealer incentives are available at any given point. (Put another way, we would know what he "gets" for the car (the Employee Price from the customer, plus this mystery payment from GM), but we would not know his true "cost" for the car or his profit, which is fine... I was just trying to figure out what a fair selling price is.)

kyfdx · July 2005

I can't speak for the GTO... But, the dealer reserve on a $32K Saab that I was looking into, was about $1400...

But, that is gross profit... he has to pay expenses out of that.. And, if everyone is getting the same deal, it isn't like he can make up for a skinny deal on the next guy... I doubt you'll find anyone selling under the employee price..

regards,
kyfdx

elias · July 2005

rcc442, interesting surmise & wonderment! i wonder too. we just don't know. if you are amenable, let's you and i start an auto dealership group and find out the answers that way! for me it's either that or a gas-station/mini-mart.

lovegto · July 2005

In a message posted on the GTO discussion board the question was whether to buy a used or new 2005 GTO. Having purchased my GTO in June and since March, having done much exploration and price checking in the process I do not believe there are many, if any, used 2005 GTO's available for purchase. There are still some 2004 GTO's selling at large discounts. I saw one Red automatic and one Black stick in ten miles of my home. Using the used car guide on the internet I was unable to come across any used 2004 or 2005 GTO's within 500 miles of my home.

kyfdx · July 2005

You just have to look around.. or find a better website..

Cars.com shows 12 used '05 GTOs within 250 miles of Cincinnati...

hammen2 · July 2005

of cars.com shows 27 used 2005's presently for sale across the U.S., pretty much all at dealers (only one individual seller).

Pricing ranges from $27,300 to $32,995(!) - with mileage ranging from 25 (still new?) to over 8000. Interestingly enough, the cheapest car has only 100 miles on it, while the most expensive has 1600...

I would not pay over 29k for any used '05...

Pontiac GTO Prices Paid and Buying Experience

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