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Crossfire Sales Are D.O.A.

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Old Apr 4, 2006 | 12:22 AM
  #41 (permalink)  
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Default Re: Crossfire Sales Are D.O.A.

Originally Posted by rohada
I agree with the comment that the Crossfire production is coming to an end. The numbers spell it out, so what does that mean for owners? The resale and worth of a car is ultimately determined by the one willing to buy it. Low production and uniqueness are only a few factors in evaluating vehicle worth. No car in the sub $50k (even $100k) arena will ever be considered collectable as it comes from the factory, not withstanding competition history, celebrity status, etc. I would be absolutely amazed if the price went up in value. Remember, this is a car going out of production because it is not selling. Therefore, no one wants it. So why would people suddenly realize the error of their ways and seek them out en masse? No, I'm afraid they would not. Besides, there are several other desirable two seaters that are still in existence. Most people like strength in numbers, that is why there is a Bimmer in every other garage. Crossfire owners don't want to meet themselves at every other intersection. The era of the 50's thru early 70's collectible car is gone forever, so we are faced with disposable cars and trucks. In the modern era, the Crossfire is just another car. One that is quickly going out of production. As such, the Crossfire is depreciating over 20% a year, high by even US car standards and this is a European built car. My guess is we will see the Crossfire become one of the best used coupe/convertible deals to hit the planet since the introduction of the automobile. The replacement parts may become an issue but many parts have been made for a car line that has been around for 3-4 years, especially since it is one car with only one other iteration as a convertible. The engine parts can be found in their M-B counterparts. The knick knacks will find themselves on eBay to the highest bidder. If you are not in it for the long haul, then sell your Crossfire now. If you like it for what it is and have no compunction about the value falling like a cinderblock, then drive it and love it. The best deal will come to those who buy a used one only a few years old.
Well put... I think parts will not be a problem for quite a few years, as it is my understanding that reduced production in 2005-2006 left many parts sitting in warehouses.

I'm waiting to see that first "new" '05 SRT6 selling for 30k... Shouldn't be far off... I took a hit for 43% depreciation on the Limited in the first two years...
 
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Old Apr 4, 2006 | 01:17 AM
  #42 (permalink)  
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Default Re: Crossfire Sales Are D.O.A.

Originally Posted by rohada
Remember, this is a car going out of production because it is not selling. Therefore, no one wants it. So why would people suddenly realize the error of their ways and seek them out en masse? No, I'm afraid they would not. Besides, there are several other desirable two seaters that are still in existence.
I would like to say that it is not selling because the original pricing didn't meet the perception of quality. To say "...it is not selling, therefore no one wants it..." is a generality, although point taken. When price equals perception, the car will sell. This is true for most products.

My opinion is that low $20's for the non-SRT and low $30's for the SRT is about as low as it will go. They may drop a bit more, but the value perception and price at this point are about equal, and I believe we have achieved a short term bottom on pricing, new and used.

Time will tell and I hope that I don't have to eat my words (or in this case, my reply). Also, since I am emotionally tied to the product in question, my vision is most likely blurred. I hope not.

I guess it really doesn't matter since I love my Crossfire!

(Would a HOOAH be appropriate here? http://www.urbandictionary.com/define.php?term=hooah Check out entry number three)
 
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Old Apr 4, 2006 | 01:22 AM
  #43 (permalink)  
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Default Re: Crossfire Sales Are D.O.A.

Originally Posted by pelked1
I would like to say that it is not selling because the original pricing didn't meet the perception of quality. To say "...it is not selling, therefore no one wants it..." is a generality, although point taken. When price equals perception, the car will sell. This is true for most products.

My opinion is that low $20's for the non-SRT and low $30's for the SRT is about as low as it will go. They may drop a bit more, but the value perception and price at this point are about equal, and I believe we have achieved a short term bottom on pricing, new and used.

Time will tell and I hope that I don't have to eat my words (or in this case, my reply). Also, since I am emotionally tied to the product in question, my vision is most likely blurred. I hope not.

I guess it really doesn't matter since I love my Crossfire!

(Would a HOOAH be appropriate here? http://www.urbandictionary.com/define.php?term=hooah Check out entry number three)
...nice

hooooooah!!!
 
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Old Apr 4, 2006 | 01:28 AM
  #44 (permalink)  
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Default Re: Crossfire Sales Are D.O.A.

Having residuals are always a problem with DC since 2003 (even before Crossfire is born) added with the dilemma due to the buy out of 50% of Mitsubishi. We'll see what the new CEO of DC can do as to improving and resolving the DC problems.
 
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Old Apr 4, 2006 | 10:38 AM
  #45 (permalink)  
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Thumbs up Re: Crossfire Sales Are D.O.A.

I leased my Crossfire so real value means zip to me except that I could have bought one! But now that they have come way down my next one (crossfire will even out my real cost)!
But now that SRT6s are so low It will be hard not to buy one! I'll pay $30-35K for a new one but less will be ok too!!! 25K would be great for a used one with under 3,000 miles.
 
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Old Apr 4, 2006 | 10:39 AM
  #46 (permalink)  
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Default Re: Crossfire Sales Are D.O.A.

My statement that Crossfires are not selling because people do not want them needs to be qualified. The public is not purchasing NEW Crossfires because they do not want them (maybe due to curious styling, value proposition not being strong, Chrysler's name in the market place, whatever the reason). The new car sales numbers bear that out, so we are left with the discussion of the residual value of these cars in the near future. I fully agree that price has to meet a desired value proposition. I live in a small town in NC and there are four 2004 non-SRT Crossfires within 25 miles of me on dealer lots with average to low mileage that are going for less than $20k right now. I completely understand the emotional component of your opinion. You'll no doubt keep it, drive it, and love it. Two straight years of +20% depreciation does not bode well. As another person observed, resale is not a strong suit of DC. I'm guessing the value of non SRT versions will continue to drop into the low to mid teens over the next few years because there are relatively few Crossfire enthusiasts as compared to, say Corvette enthusiasts. If you follow the auctions you can see that the aftermarket for rare and unusual cars can be like a rollercoaster ride, so long term, you never know. But even then, it will be the SRT versions that garner attention. Something for the group, what do you think would happen if GM cancelled the Corvette? Corvettes sell out every year and they hold their value better than most vehicles. For a mid to late 80's Corvette in desirable condition you are still looking at $8-$10k, that has become pretty much the low ground for Corvettes of the modern era, and that's on a 20 year old car. The Crossfire does not have the following of a Corvette, so I'm guessing the resale will probably struggle. But I don't believe Crossfire enthusiasts bought their rides as an investment, but rather an instrument for the enjoyment of driving. I love this forum and site overall.
 
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Old Apr 4, 2006 | 10:52 AM
  #47 (permalink)  
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Default Re: Crossfire Sales Are D.O.A.

Originally Posted by Dan Root
I leased my Crossfire so real value means zip to me except that I could have bought one! But now that they have come way down my next one (crossfire will even out my real cost)!
But now that SRT6s are so low It will be hard not to buy one! I'll pay $30-35K for a new one but less will be ok too!!! 25K would be great for a used one with under 3,000 miles.
Dan, I think you are going to get your chance.
 
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