Sonic's Value Over Time

[HollywoodTurbo]

I hit 50,000 miles today and decided to check KBB. Anyone else check the trade in values lately? My 2012 is fetching $8700 today. And you know the dealer would offer less. Dealer value is mid $12,000. Gives me a little mental boost as I'm cruising around in a $8700 car with 50,000 miles of warranty left! I can't think of a better value car on the market today. The car is very fun to drive (1.4 6 speed manual), my phone connects via bluetooth, feel safe with all the airbags, tires are still going strong, brakes feel new, and the gas mileage has to be one of the best for gas engines.

Interested in seeing the value at 100,000. 2 years to go. opcorn:

 

[Natesriv]

the closer to OEM and lower mileage and keeping it in good condition plays a large part. I'll take off all my mods the day I trade her in (years away)..

 

[HollywoodTurbo]

the closer to OEM and lower mileage and keeping it in good condition plays a large part. I'll take off all my mods the day I trade her in (years away)..

I wonder how much mileage actually matters when it comes to trading in an eco car like the Sonic. Is there a market for a low mileage used Sonic?

 

[ShadowRS]

I can tell you that trading mine in, having low miles is pretty huge. Especially if the car is well taken care of. It fills the void between people who want a new car but want a used vehicle.

This way, the car basically is new, yet they get the used value. Boom

 

[ahtoxa]

I hit 50,000 miles today and decided to check KBB. Anyone else check the trade in values lately? My 2012 is fetching $8700 today. And you know the dealer would offer less. Dealer value is mid $12,000. Gives me a little mental boost as I'm cruising around in a $8700 car with 50,000 miles of warranty left! I can't think of a better value car on the market today. The car is very fun to drive (1.4 6 speed manual), my phone connects via bluetooth, feel safe with all the airbags, tires are still going strong, brakes feel new, and the gas mileage has to be one of the best for gas engines.

Interested in seeing the value at 100,000. 2 years to go. opcorn:

Uh, not really. Sonics lost their value like a rock. $8700 for a 2 year old car is pretty pathetic, even for an econobox.

Also, Honda Fit is by FAR a better buy if you aren't going to keep the car very long. It holds its value far, far better than the Sonic and likely better than anything else in the class.

Other vehicles that hold their value amazingly well are WRXs and especially Wranglers. You can't lose if you buy a Wrangler.

 

[Natesriv]

I wonder how much mileage actually matters when it comes to trading in an eco car like the Sonic. Is there a market for a low mileage used Sonic?

No but the formula takes into account the mileage.

The Honda Fit, and CRV seem to hold their value...and the Jeep Wrangler too... but those are established names with reputations.

Unfortunately the Sonic has no rep (as of yet)...and GM's past history doesn't look good in that sense. Honda has made the Civic, CRV, Fit...for many iterations and built their images with hard work and improvements.

Chevy/GM will make a model for couple of years then abandon it and try something else..

Fiero
Cavilier
Chevette
Cobalt
G6
etc.....

Mind you not all great cars, but neither was the first Civic...

 

[ahtoxa]

The Sonic DOES have a rep - it's a domestic and a successor to the Aveo. That's not a good rep, unfortunately.

 

[Natesriv]

Take the Aveo for instance... (I do like Sonic as a name better), but ideally, this is a next step in the Aveo platform... GM abandoned the name for North America (and some others)...

My point is, if GM would stick with a name, continue to improve it each year and the next gen be a major evolution than before GM might have their own gem!

The only car I can think of that GM has followed on that is the Corvette....and the truck platforms...

 

[94383Z71]

Take the Aveo for instance... (I do like Sonic as a name better), but ideally, this is a next step in the Aveo platform... GM abandoned the name for North America (and some others)...

My point is, if GM would stick with a name, continue to improve it each year and the next gen be a major evolution than before GM might have their own gem!

The only car I can think of that GM has followed on that is the Corvette....and the truck platforms...

Depends on how you look at that.

Impala's have been in production since '57, except for 12 years hiatus total between two discontinuations.

Malibu's are the same, from '64 except for a 14 year hiatus.

Camaro's had their own 8 year hiatus from their '67 start date.

Hell, even the 'Vette had it's infamous 1 year of no production.

If you want to get technical, Silverado's have only been around since '88. Before that they were the C/K lines. Just like the Aveo/Sonic- same line of cars/trucks, different moniker.

Sure, there have been plenty of cars coming and going, but there are still plenty of long standing names, especially considering the number of people that probably don't know of/remember/been alive for the aforementioned breaks.

Now, for improvements...that's debatable like GM vs Ford.

 

[ahtoxa]

Here's what it boils down to:

Domestics have not had any real competitors in the subcompact market for many years. The Aveo was the most recent one and it wasn't very good. GM, specifically, ignored the subcompact market for the most part. Imports have always dominated this segment and were more reliable and better appointed, and cheap. This made the imports (from Asia, mostly) more desirable on the new AND the used market.

Used market desirability is one of the large factors that determines the resale value. If it were my money and I were buying used, the same year, same mileage and same price Sonic would not be able to compete with the Fit, as Fit would be the dominant choice all other things being equal. Thus, Sonic is priced lower in the market, which hurts resale value, of course.

This is very basic, of course, but that's the idea.

 

[Natesriv]

The Corvette had no 1983 model year...there's only 1, and it's at the Corvette Factory in Bowling Green, KY, at least is was in 1988 (ha so long ago!!)

Yes Malibu & Impala, but totally different iterations each time they returned from the dead. Not an evolution of a platform or design theme which carried on.

In the Sonics instance the closest I can come to is the GTI... each iteration is an improvement...

What I'm hoping for, is GEN II Sonic is a home run... and not that Chinese crud that is floating around the net...

 

[94383Z71]

No, they weren't iterations when they cam back. But the 2014 Impala is, the 2012 (2013?) Malibu was, etc. There have been many long standing lines, even with their hiati- which every company has similar lines/situations.

I'm sure everyone has heard several, but I think the amount of theories on why the '83 wasn't made is entertaining.

I agree; I hate to look of the single piece Sonic I've seen floating around here. blech.

 

[Natesriv]

Nope... the Civic didn't stop, The Accord didn't stop, The Camry, Maxima, 3-Series, Golf, etc... didn't stop... that's what I"m pointing out.

I hope the Sonic continues for 3 generations minimum...but I seriously doubt it will. GM internal structure doesn't think like that....

 

[94383Z71]

Which are- some more than others- newer vehicle lines than those I mentioned previously.

I think you may be on to something with how they think...and they might have a point.

If they can build the quality reputation they used to have, they can flip the less iconic names for "freshness" and get the best of both worlds- hype of "new" lines, and reputation of quality.

But that's all speculation for most of us.

 

[Natesriv]

agreed amigo!

 

[mowcowbell]

Many times the value of a vehicle is perceived. For example, I used to own a 2003 Toyota Matrix. This vehicle was built at a GM facility that also built an almost identical sister car called the Pontiac Vibe. The resale value of my car was about $2K more than an identically equipped Vibe. Other than a few minor trim pieces, the cars were mechanically identical. The Vibe was using the same 1.8L Corolla engine.

Made no sense at all.

 

[attrapereves]

American cars are always worth less than their Japanese counterparts. Unless we are talking about trucks...

I don't worry too much about resell value of vehicles because I end up driving them until they are only worth about $5000 anyways. I plan on keeping my Sonic for at least 5 years. I'd only sell it if I begin having problems after the warranty period is up.

 

[HollywoodTurbo]

Uh, not really. Sonics lost their value like a rock. $8700 for a 2 year old car is pretty pathetic, even for an econobox.

Also, Honda Fit is by FAR a better buy if you aren't going to keep the car very long. It holds its value far, far better than the Sonic and likely better than anything else in the class.

Other vehicles that hold their value amazingly well are WRXs and especially Wranglers. You can't lose if you buy a Wrangler.

Ya it is a pretty bad drop in value for two years. If I could sell it at dealer price, it would only be a slightly less than 40% drop in value which seems fair for the market. I feel like the car is worth more than $8700, even though kbb says otherwise.

 

[HollywoodTurbo]

Depends on how you look at that.

Impala's have been in production since '57, except for 12 years hiatus total between two discontinuations.

Malibu's are the same, from '64 except for a 14 year hiatus.

Camaro's had their own 8 year hiatus from their '67 start date.

Hell, even the 'Vette had it's infamous 1 year of no production.

If you want to get technical, Silverado's have only been around since '88. Before that they were the C/K lines. Just like the Aveo/Sonic- same line of cars/trucks, different moniker.

Sure, there have been plenty of cars coming and going, but there are still plenty of long standing names, especially considering the number of people that probably don't know of/remember/been alive for the aforementioned breaks.

Now, for improvements...that's debatable like GM vs Ford.

I think the silver ado has only been around since 1999. Before that it was still considered part of the ck lineup, or GMT xxx line.

 

[94383Z71]

You're right, but they did have the badges on the rear cab pillar (on some trims) that said Silverado, so I went ahead and included them.

But they were not officially Chevrolet Silverado's until 1998, that's correct.

relevant (maybe NSFW language?): https://www.youtube.com/watch?v=UfHtcUZXljw