I bought a Chevy Cobalt LT-1 at 48% of MSRP. No, that’s not a misprint. And while I’m insufferably pleased with myself, I’d rather dwell on how I did it so that you can use the tricks I learned. I got $3500 off using GM bucks (GMAC credit card earnings). But the dealer discount off MSRP was even larger. They deducted $3881, making this LT-1 less than every LS on the lot - by a long shot.
There are a few things that have to converge for this to happen: The Chevy dealer is closing. Chevy will buy back all the 2009s except those with over 200 miles. The dealer has to sell those cars as well as any remaining 2008s. The closest price was $1600 more. I think that this technique will work with Pontiac, Saturn, and Hummer vehicles, too. If I can to it with a Chevy now, you might get a similar deal on the other brands. Possible even a Cadillac if the dealer is closing and the car has over 200 miles on it.
Thanks for sharing. If I could only trade my Camry for a new G6 I would be heading to the GM dealer.
Congradulations; with GM now heading into Chapter 11, there will likely be more such deals as nearly half of the US dealerships will close. The Cobalt inventory at this time is still 430 days supply!!! There might even be better deals on Pontiac G5s I would imagine.
Great price, but it’s still a Cobalt.
…and that is why there is a 430 day supply of Cobalts sitting around.
Still, I congratulate the OP on his ability to score a deal like this. Not very long ago, my brother was able to score $8,000 off the msrp of a 2008 Santa Fe Limited ($3,500 factory rebate, $1,500 “Owner Loyalty” rebate, $3,000 price reduction from dealership).
And, let us not forget that you will be able to deduct the sales tax on next year’s federal income tax return when you file it!
The deals are definitely out there for those who are currently in the market for a new car.
“…with GM now heading into Chapter 11…”
It’s not definite, but I would agree that it is highly likely. The dealer also said that they would service it at their Chrysler/Jeep dealership which is very close to my house. If I have warranty work, I may take it there.
“Great price, but it’s still a Cobalt.”
Yet, it’s the 4th or 5th best selling compact car in the USA (2008 sales) - even better than the Mazda3. Price trumps driving pleasure for a large segment of the population. BTW, my children will drive this car, not me. I like my Accord EX V6 much better. And a G8 demo with over 200 miles will be going for a song.
I did not say tht GM was going out of business; Chapter 11 allows reorganization under creditor protection. That means GM will carry on business as usual, is not obliged to pay all its debts, and can shed assets (Hummer, Saab, Saturn) while focusing on their core brands. I would expect enough Chevrolet dealers will stay in business to provide service and Uncle Sam will back the warranties.
On the other hand, buying a Saturn Astra is very hazardous, since the Astra is made in Belgium by GM’s Opel division, and it’s up for sale as well to the highest bidder. An Astra will be a true orphan, like a Daewoo car, whose manufacturer actually went BANKRUPT. GM just bought the assets, and will not honor any old Daewoo service requests.
Sounds great…so what did you actually pay for the car ?
MSRP $17,445
before taxes, tags: $8557
after taxes, tags: $9769.42
“I did not say tht GM was going out of business…”
I did not take it that way. There are still a couple of weeks to avoid it, but it is likely. As for the Astra, I do not believe that there are any 2009 Astras, just 2008s. I did a web search and two local dealers actually do have 2008 Astras on the lot. Someone might avoid the Sky, too. I doubt that Chevy will produce an equivalent model after reorganization.
Agree, the Obama overseeing team will consider the Sky and the Pontiac Solstice version of the sports car too frivolous, and GM will agree that they should be cut. The Saturn Astra is actually a pretty respectable car, but those European made spares will kill you in the future, if you can get them.
GM just announced that after the reorganization, their small cars well all be made abroad, Mexico, Korea, China, Brazil, etc. GM already has good manufacturing plants in all those countries. The rear drive cars will be designed in Australia, and may be built there as well, since the Pontiac G8 will be discontinued.
“…but those European made spares will kill you in the future, if you can get them.
”
Are parts that expensive for VWs? I’d consider Opels equivalent.
“GM just announced that after the reorganization, their small cars well all be made abroad, Mexico, Korea, China, Brazil, etc. GM already has good manufacturing plants in all those countries.”
I guess that means the Cobalt won’t be built in Ontario anymore? It seems a shame to shut the line down until the model has run it’s course. Unless you meant new models and not current ones.
I also wonder whether the G8 might become a Chevy. Are the RWD Cadillacs designed in Australia now? I believe that the CTS was designed in the US and is built only in Michigan at this time.
It sounds like an excellent buy if your intent is to keep the car for a long time. Aveos that can be had for a similar price, I don’t feel can hold a candle to a Cobalt, each of which I’ve ridden in.
I would be interested to hear a year from now how satisfied you still are with the purchase for it’s intended use.
Good luck. I hope it serves you well.
It may be the last of the smaller cars that GM actually makes or assembles in the US.
I could possibly sell it next year and still make a profit. But we plan to keep it at least 5 years. One of the kids will likely take it with them at that time.
Wow we just looked at a low-mileage 2006 Cobalt for more than that!