2005 CTS impressions

[Bruce Nunnally]

Traded my 2004 CTS w/20k miles for a 2005 CTS Friday. Had it back to the Dealer on Saturday to be "readied for customer"/detailed. Base 1SB package, so 3.6L V6 with only automatic transmission and XM radio as options, similar to my 2004. Light Platinum ext, Light neutral interior as before. I like the new wheel design, which has smaller center caps reminiscent of the 98+ STS wheels.

The dash gauge layout has been updated a bit on the new car. I like the change. Tinted windows improve the visual appeal of the car. The dealer put on a stripe pattern, which am neutral on. Nice touch that it has a Cadillac crest in the stripe along the fender. New combined antenna looks better than the old antenna did.

The XM radio is fun. 176 or so channels. Car comes with 3 month subscription. A yearly subscription is $9/month or so. Rates going up this week, so may subscribe ahead. We like the Folk Music channel, dedicated channels for several of the college sports conferences, comedy channels, and my Wife's favorite, Broadway music channel. Also CNN and other national news, although it should be noted that some of these are audio feeds off their TV program.

Otherwise not much to report. Obviously an evolutionary year for the CTS 3.6L, so main changes were offerring new colors, etc.

[Scotty]

Here is an impression.

My cousin just got back from a week in Sedona. He currently leases a 2002 Volvo XC and likes it but I never noticed him being too excited about it.

When he arrived in Phoenix the rental agent PUSHED (as he said) a 2005 Cadillac CTS on him. Yesterday at the family Easter dinner he raved to me about how incredible the car was over and over. He is a Police captain. The speed limit between Phoenix and Sedona is 75. He raved at the cars sure-footedness, how level it stayed on turns, how responsive it is, how quiet it was, how he could not feel bumps, and how much power the engine had. I loved the satellite radio also. At one point he asked his wife, how fast do you think we are going? and she said, oh 65, he said we were going 90....and proceeded to go to 100 in amazement. He is going to buy or lease a CTS very soon! Nice!

I did not know enough about the car to be informative but he was asking how big the engine was and if it had an all-wheel drive option. I will send him the cadillac link.

[Brad]

Bruce,

I hope you kept the CTS-V grille you installed on your '04! If I get the CTS, that will be one of the first mods I do; I love that look.

Congrats on the new car!

[Cadillac STS]

lets see pics! Congrats

[cadillac_caddy_sts]

My parents are looking at getting a CTS for there next vehicle! Big step up from there grand am!

[ted tcb]

Bruce, it must save you time on washing 'em if you just trade up when the CTS' get dirty.

It didn't sound like you had any interest in biting on an '05.

Did the dealer actually keep your payment the same?

If so, nice deal!

[Bruce Nunnally]

Two prompts: 1) a local fellow mentioned he traded his wife's 04 CTS for an 05 CTS, added some stuff, and ended up with the same payments. 2) Dealer sent over a please come trade brochure. So as I posted, I thought why not hear the numbers.

I had a 2004 CTS 3.6L with automatic, and 20,084 miles. This has a trade-in value of $21,425 according to kbb.com. I owed just under $18K on my car, so the car had $3,425 equity -- IF the dealer offerred full book value on the trade, which they did not, (Do they ever?).

If I kept the same payments, as you mention, that adds $420x60 mo at 3.9%, or $22,500 to the pot. So I had, if I got book trade value, say $25,925 to spend plus pocket money. By pocket money, I mean that I save $200/month for the NEXT downpayment. So at the end of a 5 year note, I will have approximately $10K to put down on a new car plus a depreciated 5 year old trade. So after the 14 months I had $2800 or so of downpayment saved.

The brochure the dealer sent shows discounts on a smartbuy (lease) on a "2005 CTS" all the way down to $27,500. Did not say 2.8L or 3.6L or manual/automatic. Did say several dealer coupons and discounts and GM discounts. Dealer wrote the brochure, not me. But $27,500 plus TTL plus 3.6L plus automatic without smartbuy discounts is >> $26K.

I wanted a 2005 CTS 3.6L with automatic. Retail $34,660. This invoices at $30,007 1SB + Xm Radio $276 + Automatic $1,020 + $695 Delivery = $31,998.

So we were $6,073 to $8,725 apart on a $32K to $35K car .

At the end of the day, I put in $2,500, my 2004 CTS trade, and a $22,500 ($420x60mo at 3.9%) note incl TTL and purchased the 2005 CTS.

Getting a new car is not a wise investment, as they depreciate sharply. Getting a new car after 14 mo of ownership is almost always a financial disaster. That said, I'm really having fun.

[ted tcb]

So, Bruce, you drove the car for 13months at a depreciated loss of $2500?

That's a pretty low figure, plus, your new car retails at $1800 higher than your 2004 ($32,885).

Factor that number in, and your net loss is really only $700 to get a car that's a model year newer.

Most dealers I know say that it takes a minimum of 24 payments on a 60month loan to become equity neutral ... at 13 months, its usually $$ suicide.

Good one!

[JasonA]

Getting a new car is not a wise investment, as they depreciate sharply. Getting a new car after 14 mo of ownership is almost always a financial disaster. That said, I'm really having fun.

Good story Bruce! My parents have always impressioned on me how much money they've wasted over the past few decades buying new cars all the time. Most of the vehicles they bought were new, and they took a big depreciation hit on all of them. It costs a lot to put the first stain on the floor or put the first splash of water on the mud flaps. That said, nothing beats a new car smell does it?

Cheers,