This "money" is burnin' a hole in my pocket...suggestions please

[shaw]

I have a lot of GM incentives built up. To date I am just short of $4,500. That is through a $ 1,000 loyalty GM, as I purchased an Olds Silhouette in late '98. GM rewarded "sorry" Olds owners. The rest is from my GM Card.

I want to get the money without owning a new car in the end. I'm really not interested in many new GM rides. I have a couple of ideas that will get me some cash in my pocket. My first thought is to buy something cheap and marketable. Then, trade it in within three months on a clean used ride. For example, a 2002 Altima would be fine. I am trying to suck less depreciation and get a decent affordable ride that will suffice for my son to drive. With another son in college and two more on the horizon, a new car is out of the question. The new title takes 60 days or so from NYS DMV.

The end result of the buying process is I get $ 4,500 off after I make my best deal. Some GM rebates are substantial right now. It just tells you what the cars are really worth. I know that I will never see the whole $ 4,500. I am just trying to get as much as possible.

I would greatly appreciate any suggestions.

[Aurora40]

With your GM Card, you could get a GTO for about $19-18k probably.

[BoxsterCharlie]

I hate to tell you this, but I think you may need to walk away from the incentives. If you figure sales tax, registration, and the delta between buying a new car out of a showroom vs. selling on your own or trading in, you're up to at least $4,500 plus a lot of legwork.

They have some pretty good cars and trucks right now if you do want to buy for the long-term. How about an Alero?

[shaw]

I like the GTO thought. HP is always GOOD! I currently own a '94 Z28 in excellent condition with 55K on it with some nice mods. It's quicker than the GTO, and I really like that beast. I just put an SLP exhaust on it to replace the Flowmaster. What a sound! I also own an Aurora as well. The late model Auroras are a great value in the used market, as they are soft in price. There is a lot of car there for the money.

The Alero would have to be an '04 and the wholesale of that is through the floor, as are most lower priced GM rides. '05 Cavaliers with 7K are averaging $ 8,300 at auction around here. That is 50% of what they stickered for and we are yet to turn the calendar. OUCH!

Here is an example of a deal that could happen. Buy an '05 Cavalier or Sunfire that stickers for say $ 16,700. Deal it for $11K after discount and rebate. Take off $ 4,500 and pay the tax and fees. I could own that car for $7,800 driving off the lot.

Now, when you trade ALWAYS look at the "left side" or the wholesale side. That is what we get when we trade. Forget the "fat" numbers thrown out by the dealer. The bottom line is my car PLUS how much. I NEVER have gone in and talked trade until I got my BEST cash price- "no trade price". Then you know what you are getting apples for apples when the trade talk begins.

So, with that said I could get 9K wholesale for the new 'O5 Cavalier if I traded. I might be able to get more if I retailed it to a wanting buyer. I may even garage it for two months to keep it "new". That makes it at least a $ 1,200 plus if I were just to turn around and sell it. That's not in the cards.

Let's say I bought a '02 Altima at $ 14,000 for illustration purposes. I would own the car for $ 15,200 with no trade. With a trade, I would be at my car (9K credit) plus $ 5,000 or $5,400 with tax.

Do the math and I spent $ 7,800 plus $ 5,400 or $ 13,200 versus the $ 15,200 outright for the Altima. So, $ 2,000 is the savings given this example assuming my numbers are realistic.

I need to get that higher. Who has the creativity and knowledge to make that happen?

Sorry for the long reply. Needed to spell out the details.

[DETAILKING]

will the loot work towards a lease or a smart buy?

[shaw]

The money is green. Well, sort of. The incentives work towards any purchase. Even goes towards dealer swirled cars too!

[DETAILKING]

what about chevy accessories? Buy 4500 in accessories and sell em on ebay

[shaw]

Maybe I misled you DK. I meant any type of purchase (conventional buy, lease, Smart Buy) assuming a new ride.