Pontiac GTO Prices Paid and Buying Experience

Kirstie_H

Looking for a new GTO or already purchased one? Share your experience here!

kirstie_h
Roving Host & Future Vehicles Host

ua01682

Last week recieved an internet quote for $25690 AFTER REBATE. The quoted price was on 3 Yellow, Silver, and Red M6 models. I wanted a black one. The $3500 GMAC rebate is over, or is it? Any advice now that it's October?

glammers

The $3500 GMAC rebate continues in October. I am having a challenging time finding any California dealers willing to come down to $29,190 for M6. What internet quote service are you using and what part of the Country?

ua01682

I sent a powerbuy request through edmonds.com for my area, Houston. Local dealer emailed quote at $25690 (Lawrence Marshall Pontiac). Other quotes were 27995 (can't remember) and 27912 (Ron Carter)

ua01682

Another quote for 26,500 in Houston. Car is Red/Red A4.

yzfr1n

Is that before or after the $3500 rebate?

ua01682

That was including the GMAC rebate. I have heard that another Houston GTO owner got a quote for 25,500 for an automatic.

styx

Check out the Smart Buy on this car. You can own for 3 years for less money than the car will depreciate.

ua01682

Or even 2 years, as I have done.

styx

What was the cost for two years ? Three years was only $11,000!

ua01682

Something like 25690-20500=5190+5.5%.

styx

don't they add sales tax on top of 25690.

ua01682

Yes. In Texas tax is 6.25%.

If you roll it in your payments go up of course. The GM Buypower site has a nice calculator. Since I signed for 24 the prorated taxes are higher per month than a 36 but it's safer than paying the taxes up front. It's our call though...

styx

In the smart buy the tax is figured in the total price 25000 + 6% = 27000 + interest 4.5% minus balloon payment = Total amount out of pocket.

ua01682

"In the smart buy the tax is figured in the total price 25000 + 6% = 27000 + interest 4.5% minus balloon payment = Total amount out of pocket."

I think that's about right!

corkfish

Geez, if it's possible to get a 2005 400 horse model for that kind of money I'm doomed. My Forester XT is only a year old and I know I'll end up trading it in. I thought these cars were going for $35K plus which is why I went with Subaru. Now you can get them in the mid twenties?

crusher

I have about 48 Hours to decide on purchasing a Cosmos Purple, 04 GTO, 6spd, for about $28K out the door. That's with GMS, GMAC Bonus Rebate $3,500, Military Bonus Rebate $500K and 2.9% @ 60 months. I really like the color base on photos in this forum(I am stationed overseas). I will be home next month for the holidays and really wanted to make the purchase at that time, however, but this is the last Cosmos Purple in AZ and the only other color I like is the Barbarous Blue only because it will be discontinued. I think if I wait these colors will not be available next month. Now saying that I think I can be happy with the Midnight Blue. The question is do I gamble and hope that similar incentives will be available around this time next year? My gut feeling is GM will offer either a lower rebate or similar interest rates next year, but not both. I am guessing that I will end up paying an estimated $32K out-the-door for a 2005 GTO, which will make my monthly payments significantly higher. Thanks in advance for your great comments.

styx

That's one of the reasons I buy GM. You can't beat the value. You might have to wait a half or whole year from debut, but after that love those rebates and discounts. I actually bought an 03 Envoy XL new - Traded it in 6 months + 11,000 miles later and received $800.00 more. (24,000 - 24,800). It was on an 03 Yukon MSRP:$40,700 discounted to $29,900. I loved it! Never got a deal close from any other make.

crusher

I have re-aligned my sights for the 2004 Pulse Red, 6 Spd, GTO. Currently there is 5 Dealers with the combo I want in AZ. Asking for quotes as before with GMS, GMAC & Military Rebate Bonus. I should have at least one out-the-door quote for less than $28K. Again, its pain doing these kind of deals from overseas, but I will hang in there!

redacr

Wow!!

The rebate is now 5,500 in addition to the 2.9%apr.

so very tempting!

gmguy1177

On top of the now 5500 cash allowance and 2.9 apr gm card owners get can get an additional 5000 off a 2004 GTO. SO thats 10,500 off plus 2.9% THey must really want to unload these. U Could probally get it for just around 20k with these incentives maybe less!

cracovian

I went to the lowest quoted dealer yesterday - he wanted invoice minus the incentives ($21,163) plus TTL and a bunch port and paint related fees. Only a few dealers have one or two GTOs left, they have decent lease specials on them that they can unload on unsuspecting victims, so no you can't get it that cheap...

gmguy1177

Went to the dealer today. This is the deal that was offered

 

25965 including rebates plus 5000 from gm card

 

$20965 plus tax tags

 

They also will lease for 232 month for 24 months this includes tax. 12K miles per year using only the gm earnings of 5000 for downpayment. So nothing out of my pocket for 232 month. Sounds pretty good.

redacr

do you simply need to have a gm card or have you earned a susbtantial amount of points?

i'll buy one tomorrow if all i need to do is get a cc

gmguy1177

I believe u just need the card. I only had a little over 100 dollars in earnings but they have rounded your total up to 2000 on any gm car plus an additional 3000 on the 04 gto.

redacr

any idea as to how long it took you to apply/receive the card?

i have 1 week before the end of the month.

gmguy1177

note sure. there number is 1-800-947-1000. see if they can approve you for one over the phone and give u an account number. Thats all you will need to have.

corkfish

I thought that the maximum card earnings you can use for the GTO is $1000.

 

http://www.gmcard.com/GMCard/apply/redeem/allowances.jsp

cracovian

The bottom line is that you need to have a few dollars in earnings (I got ~$200) and they usually round it up to $2000 each year. This year they added additional $3000 to three 2004 GM models including the GTO. Not every cardmember gets this mailing and it's too late to get one now anyway, especially if you're a new applicant.

 

It seems like normally $1000 is the limit for the GTO but my dealer confirmed all $5000 would apply before January 3.

 

If it hadn't been for the extra unreasonable fees AND my wife, that pulse red baby would be mine by now :-)

nyyace

I just purchased a leftover 04 yesterday. The dealer came down to $25,500, my gm card points were rounded up from $250 to 5,000. bringing the price to $20,500. With 2.9 financing for 60 months I couldn't resist! The car is black with the six speed, I pick it up on Monday.

 

Since I got so much money off the car I think I am going to re-invest about $1000 in some good snow tires. The talk is we are going to get a good amout of snow in NYC this winter, but I figure with traction control and dedicated snow tires I should be ok.

dat2

Hey-

 

I have worked a deal on an '04 gto, 6 spd, silver, red seats, build date 06/04, 160 miles on clock, $25,600 plus tax, tags, and $400 proc fee, 2 free oil changes,

 

trade in allowance $15,000 on my '05 scion tC 5 spd with 13,000 miles on it, and a few dealer options such as TRD exhaust and strut bar. HOW IS IT?? Should I have been able to do better??

mattress

Being fortunate enough to get the GM Card bonus, I found that the best deal was the 24 mo. GMAC lease. With dealers selling the 2004 at invoice, the payment is well under $100 per month, with zero cash down. I wasn't planning to get a new car, but how could I resist. Thank you GM!

tripowergto

What would the selling price/rebates have to be to get $100 month lease at 24m/24k?

cracovian

I got my 2 year lease for $126 a month x 23. 12K mile allowance, the total of $2898 payments, drove from Atlanta to Chicago for Christmas next day, the car drove great and it's a steal! GM might have gotten hosed in that deal but they got this import boy converted for sure :-) It's a PS2 on wheels!

mattress

Selling price before rebates $31,282 (auto trans), less GMAC $5500 rebate less GM Card $6000 rebate. 24 mo/12,000 lease.

carfact

What was your money factor rate and residual value after 2 years?

mattress

Residual value was $21,101.85. I don't know the money factor. I ended up doing a single payment lease to get the cost down even further. I paid $1272.48, including 10% PA use tax. Backing out the tax, the payment is under $50 per month! The dealer had to play with the GMAC system to make the numbers work, because the payment was so low. But other dealers could do the same thing, so it shouln't be an issue for you.

carfact

Thanks. So had you not paid the $1,272.48 your monthly payment would be around $75/month versus the under $50/ a month? I'm curious...what do you mean by a single payment lease?

mattress

A single payment lease is an upfront payment, in this case $1,272.48, which pays for the entire 24 months. There are no monthly payments. Given the relatively small amount of money involved here, it made sense.

carfact

Thanks for the information. If you don't mind me asking.....approx. how much did you save by going with a single lease payment as opposed to a monthly payment? I'd heard that there is a GMAC lease admin charge of $495? and other deposit fees involved besides tax and interest that possibly were part of your $1,272 payment? I live in IL and think my tax is based on the full purchase price of the car instead of the lease duration portion.

 

I'm going to the dealership tomorrow for some fun negotiation time and number crunching and found your information very useful.

 

Thanks

mattress

I believe that the single payment lease saved me about $10-15 per month. Good luck with the dealer. I used www.gmbuypower.com to get e-mail quotes from several dealers. When I gave them the specifics of the rebates and lease term, I got bottom-line responses within a couple hours. This saved a lot of time and B.S.

skip30

Went to two Southern California dealers today. One dealer quoted $462.65 a month and $1050.00 down for 24 months. That was with them keeping the $3500 (West Coast) rebate.

 

Second dealer was $3400 down and $299 a month plus tax (8.25%). When you figure it all out, they both wanted the same price.

 

Bottom Line: I will never buy a GM car again! They lost a good (Over 20 new cars and trucks)customer, forever.

 

I do not care if I get the "best deal" in the world, I just want to be treated fair.

 

You guys should be happy that you do not live in Southern California, because, we get ripped off left, right and center by almost everyone!

 

Sorry for the rant!

honkinunit

Unfortunately, CO is in GM's Western region, which only had the $3500 rebate. gmbuypower.com shows over 50 '04 GTO's at dealers in the Denver area, so I have to believe there will be some kind of additional incentives. This is not a Colorado kind of car... Does anyone have any inside they would like to share?

 

My bottom line is this. I'll buy an M6 if I can get it for 22k. It looks like some people in the east have hit this price. I don't have a GM card (I used to have one, and cancelled it after I used the rebate to buy my pickup in '99). I'd sure be willing to get another one though, if it saved me $5000!

hemi335

I just used a newspaper bottom line applied the GM card (I only qualified for $5,000 total, some I know qualified for $6,000 based on earnings). Mine still cost me only $1,600 to lease for 2 years including the Nebraska sales tax. Either that or I could have bought for about $19,700, which is less that my lease residual of $21,400 at the end of 2 years. Needed a new vehicle like another hole in the head, but couldn't resist this great of a deal. Thanks GM Card once again...

4loans

What states are the people in that got the $5000 in GM points? I got a notice rounding up up $2200 in points to $3000 but not $5000. What are the incentives in CA. The GMS site showed $3500 plus low APR ending today. Was the 24 month lease that a few people mentioned something that was offered in all states.

 

What caused the increase in Horsepower from 2004 to 2005?

hammen2

GM Card rounded up certain cardholders - I have $3k in earnings on my card but didn't get rounded up (no matter, I have my GTO and the wife's new Envoy, so I wasn't in the market anyway). If you got "rounded up" to 3k, you probably got rounded up to 6k if you bought a GTO, SSR, or SRX V8. Best way to check would be going to GMCard.com and checking out your earnings - they did not send out a postcard about the increase in roundup $$$ for those models.

 

As to the rebate, the whole Western US only got $3500. Midwest got $5k, and East and South got $5500. But those incentives expired tonight...

 

--Robert

gmguy1177

Last night I drove about an Hour to finish a deal on a silver GTO. I was quoted 115 month for 24 months nothing out of pocket for 2year lease using 5k gm card earnings. I had a similair offer from another dealer for a Red Pulse an hour or so south of me but i wanted silver. I get up there and the salesmen shows me the car. I try to start the car and it doesnt start. The salesmen thought maybe te battery was dead. Hooked it up to a charger...still no start. I was not happy. HE wanted to have the service guys take a look at but i just had a bad feeling that it was something more and the last thing i wanted was to sign papers for a car that is already a problem. Needless to say i left very angerly as they did not have another one. By the time i got out of there and got haome is was almost 8'oclock which left me no time to go to another dealer. Now the incentives are over for both my GM card and the 5500 so looks like no GTO for me.

tripowergto

Well believe it or not this is what I actually paid yesterday(last day of all incentives) for a NEW limited edition Pulse Red M6 2004 GTO.

 

Sticker: $33,485 (Invoice -holdback is roughly $31,000)

Negotiated Price: $29,000

2 Dealer Certs: -$1000

GMAC rebate: -$5500

Total before GM card incentive: $22,500

 

GM Card roundup: -$5200

Grand Total after all incentives/rebates: $17,300 +TTL

 

TTL in PA was: 6% sales tax: $1038, Papers were $155

Out the door price: $18,493

 

I easily could have put 0 down, but since I felt like I was already stealing it I put $1493 down($493 cash, $1000 on my GM card, gotta still use it, lol!!), financing $17,000 @ 2.9 for 60 months with GMAC. Payments are $304, full coverage Insurance is $822yr. and I OWN IT, WOO HOO!!

 

It took 2 weeks to finally make this deal, losing out on a few in the process but ultimately made my very best deal on the last possible day only 50 miles away. My dealer in northeast PA still has 3 Torrid Red 04's and a slightly used yellow one.

carfact

I did get the GM Card postcard that had the $6K offer for the GTO, SSR, and SRX V-8. They also "topped-off" my $3,000 bonus and added $500 or a total of $3,500 for about a dozen other '05 GM vehicles, a G6 being one of them. For some customers it was called "round-up" instead of "top-off"?

 

I was down to $19,600 for a GTO Pulse Red Auto after all the shenanigans, $11K in rebates, or about $120 a month 2 year lease(IL taxes on the full price of the car before incentives).

 

Believe it or not I went with the G6 instead and got $10K of rebates including my GM $3,500 bonus. I guess the practical side got the better of me, and now the G6 can stay outside on the driveway with the remote start feature. $13K for a loaded 2005 G6 including TTL, MSRP was $23K. Sell it in about 6 months take the profit and start looking for the '05 GTO deals down the road?

dat2

Wow, man, that is an incredible deal!! I now feel like I got taken last week on my new silver GTO 6spd. What is that pulse red color like? I have never seen one around here. How is it different from the standard issue torrid red?? How many miles were on your goat and what is the build date? (check tag on door jamb). The deal I got last week was 31,050 minus the 5500, plus a 395 or something dealer doc fee, and plus the tags. My insurance price through state farm was very similar to yours. I did, however, get a good price on my trade, 1500 more than carmax buy price. Anyway, how do you like your new goat so far? Enjoy...

hammen2

The Pulse Red is a more metallic red - kinda pearlescent - unliked the Torrid/Red Hot color.

 

The Pulse Red (code A40) were supposed to be badged as 40th Anniversary GTOs, but GM killed this before production started. The 792 Pulse Red cars were the last 2004 GTOs produced, with August/September build dates.

 

Your deal doesn't sound too bad - sounds like you were close to invoice (dealer didn't go into their holdback), less the $5500 GMAC incentive, and they may have applied 3 $500 certs to the deal without telling you (re: your trade being appraised at $1500 more than Carmax). If you didn't have the GM Card $6k roundup, you did about as well as you could! Just enjoy the car and don't worry about what you paid - I paid GMS less $4500 (and the special GMAC finance rates). Just think about those folks who paid sticker or over it... hey, as long as they love their cars, and don't plan to trade or sell them, what should it matter? As another famous Edmunds poster says, "Drive and buy what YOU like..."

 

--Robert