Buying a two-year-old new car

malibu
chevrolet

#1

I have a chance to buy a 2008 Malibu LTZ w/ 30 miles. All warranties fresh; is this a good car to buy if the price is right? What do I need to look out for?



Thanks all.



Don


#2

The car is two years old. The tires are two years old, the battery is two years old, etc. If you buy the car and one day later the car is totaled, the insurance will compensate you for a 2 year old Malibu. I would pay no more for this car than I would for a 2 year old Malibu with 30,000 miles.


#3

The car itself is okay, but Triedag is correct. The fact that the manufacturer’s future is uncertain is another negative factor. The deal must be sweet for this to work…


#4

Worth $14,000 tops. Dealer must replace all rubber bits: tires, battery, belts, hoses and toss in an extended warranty.
Twtone


#5

If the price is right, there’s no reason to worry about the age of the car. Just be aware that the warranty period won’t be very long, since two years are already gone. I’d try to get an extension on it.


#6

The warranty starts when the car is put into service. From the poster’s comment “fresh warranty” I am guessing this is new from a dealr, demo maybe, and has not been put in service yet, hence full warranty.


#7

The auto site Edmunds.com shows the TMV (true market value) for the car you describe a just under $16K for a dealer to sell at retail. This is not a “deal” price. I added the V6 engine and stability control as options and the 30 miles into the data to arrive at the TMV price.

If the dealer wants about $14K it might be a good deal. I won’t go over that since as soon as you drive the car off the lot is a 2 year old used car.


#8

I ran into the same situation back in the fall of 1988. Many of the 1989 cars were already on display. The Pontiac dealer had a left over 1987 Pontiac 6000 that had never been sold and had less than 100 miles on the odometer. I pointed out that the car was two years old by the model year and that it would have to be a very good deal. I also said that I wanted the dealership’s best price on the car. The salesperson went into see her manager and came back and said, “We will take $150 off the sticker price”. I told her that I didn’t think that was much of a deal, but thanked her for her time. She then said, “Well, that isn’t our best price”. I said that I wasn’t wasting any more time at the agency and walked. There is probably a similar reason why the dealership that has the 2008 Malibu hasn’t sold it in two years.


#9

Good point. Thanks.