[GMRedline]

Hello everyone!

I'm going to buy an ELR one day. I've been in love with them since they day they came out. But I have an question that I'm hoping I could get some help with.

How cheap are these things going to get?

My "plan" was to buy a 2016 model sometime next year. I've been following the used car prices for most the summer and things have changed pretty drastically in the last 3 months. Early in the summer, prices for a 2014 ELR with less than 36k ranged between $36,000 and $42,000. Also, there were not many available. Now the price ranges from $29,000 to $32,000 and as I'm typing this there are 142 available on cars dot com.

Obviously the biggest change has been all the lease returns.

I tried working with my local Cadillac dealer to find an ELR for me with a signed contract and money down and they didn't want nothing to do with it. Then an ELR showed up at a local ma and pa dealership that would have fit what I was looking for. I drove it and loved it.

So the ELR is steal right now for the price and features but how much more will they drop? Part of my "plan" of waiting until next year is because the demand for any electric car not called the Tesla Model 3 is going to plummet as half a million people start taking delivery of their Model 3s. Realistically its going to be a few years before it will get to the point where anyone could buy one without waiting.

There are going to be plenty of one owner lease return 2014 ELRs available for a couple of years.

I'm a GM guy but I wouldn't count out owning a Tesla in 3 or 4 years. If I get into an ELR right now I'm afraid I will be under for most the terms of my loan.

I used to get the GM Family discount so buying new/newer cars is very frustrating for me. Before it was "Here's the price." and then I would work on getting accessories thrown in for free. I don't like not knowing how much these dealerships have into these vehicles.

What do you think?

Does anyone have access to any resources that show how much the ELRs are selling for at auctions?

 

[Aseras]

The are rare and spotty but seem to be at their floor at least for the next few years. SoCal and Texas seem to have a lot of them. Elsewhere they are super rare.

My only issue is with leases you know the cars were driven like rental cars. On the plus side Cadillac ELR have a much longer warranty than volts and many are still under b2b warranty until 2020 or longer. Parts availability is an issue though.

IMHO for the money you can't get much more car and the materials are top notch. Just make sure you have a Cadillac dealer that can service it and is actually good at servicing them.

 

[GMRedline]

156 available on cars right now.

My local dealer dropped his price from $30,400 to $30,000.

 

[GMRedline]

168 on cars right now.

My local dealer dropper his price from $30,000 to $29,500.

 

[Bill Step]

168 on cars right now.

My local dealer dropper his price from $30,000 to $29,500.

what color is the car?

 

[saltsman]

In my best guess, new ELR's have hit final pay from GM. Selling at a lower price would require the dealership to pay to sell it for less (which they may do to stop paying interest on the unit).

If I were to guess, used ELR's will bring about 50% more than a comparable Volt. When you remove the $7,500 tax credit and the $5,000 price drop in 2014, the Volt has actually been holding it's value slightly higher than similar ICE vehicles (Cruse, etc). When I last calculated it, a Volt looses 18% per MY - assuming no milage driven. I'd guess the ELR is the same of slightly higher.

 

[CCIE]

In my best guess, new ELR's have hit final pay from GM. Selling at a lower price would require the dealership to pay to sell it for less (which they may do to stop paying interest on the unit).

There are still new ELRs on dealer lots?

 

[hellsop]

There are still new ELRs on dealer lots?

At least one, on Cape Cod. For MSRP, mind you, which may explain why.

 

[GMRedline]

There are still new ELRs on dealer lots?

It's black.

 

[GMRedline]

There are still new ELRs on dealer lots?

5 "New" 2014 ELRs listed on cars right now.

 

[myoda]

Some of the "new" listings are bogus. The Cape Cod dealership has been closed for a while.

 

[Loboc]

They'll keep depreciating for a while yet. Mileage has a lot to do with it. I doubt anyone would want one without a warranty, so, any with >100k miles should be dirt cheap.

What'd be cool is to resto-mod one into a pure EV convertible.

 

[Belgin]

Keep in mind that it will not be a collector car in the future. You have to buy it because you like it and bear the normal depreciation for a discontinued GM car. It was an overpriced car with a Gen1 Volt powertrain. They couldn't give them away new so they will not be collectable.

 

[GreasySideUp]

I?m a buyer at 20k. I think dealers will be at the 22-25k mark by the end of the year. With a 6 year old, I have a finite amount of time this car will be useful to me as a primary vehicle with the amount she is growing vs the size of the back seat. There is an extremely small market on these cars, and it looks like they are moving slowly at 25-30k. If anyone has one with Adaptive cruise for sale, please shoot me a message. I?m ready to purchase today.

 

[GMRedline]

I?m a buyer at 20k. I think dealers will be at the 22-25k mark by the end of the year.

I agree. They are going to continue to drop hard for the foreseeable future. I'm going to hold out for a 2016 Performance edition. It's the way these cars should have been sold from the beginning. I'm thinking by the end of 2018 or beginning of 2019 a 2016 should be priced near $20k. I just got to hope the right one pops up at the right time.

 

[myoda]

ELR vehicles seem to be holding at the 25K range as of today. And those cars at that price range have over 50K on them. But, that's not a bad deal if most of those miles are highway miles.
https://www.cars.com/for-sale/searc...ORT&sort=price-lowest&stkTypId=28881&zc=90210

 

[Aseras]

I got my 2014 ELR NEW in March of this year, 2017. I tried to buy FLMatt's Saks 5th ave, but couldn't move quick enough for him. Found my ELR by sheer dumb luck visiting my dad back around christmas. The dropped the price below $39k and I couldn't resist when I came back in march and it was still there. It wasn't advertised.

The only catch is all the 2014 were forced "In service" 12/31/15. So you loose some warranty, but the dealer made that up for me as part of the deal. I got a copy of the MSO and the state sent me the copy as well as the original application for title so I know it qualifies for the rebate.

It almost makes lemon lawing my POS 2015 volt worth it.

 

[GreasySideUp]

I got my 2014 ELR NEW in March of this year, 2017. I tried to buy FLMatt's Saks 5th ave, but couldn't move quick enough for him. Found my ELR by sheer dumb luck visiting my dad back around christmas. The dropped the price below $39k and I couldn't resist when I came back in march and it was still there. It wasn't advertised.

The only catch is all the 2014 were forced "In service" 12/31/15. So you loose some warranty, but the dealer made that up for me as part of the deal. I got a copy of the MSO and the state sent me the copy as well as the original application for title so I know it qualifies for the rebate.

It almost makes lemon lawing my POS 2015 volt worth it.

That?s a great deal with the tax credit. I called about one of the new ones the other day and they wanted 48k for a now 4 year old ?new? car and weren?t open to negotiating over the phone. That price baffles me.

The 25k cars have been online for several months and started at 30. I?d expect further price drops by the end of the year. With so few of them for sale, it?s pretty easy to see that they just aren?t moving. Eventually, price and demand will meet but I don?t think we are there yet. Several dealers have called me back this week with price drops, but we are still 5-7k apart. I had a bidding war on EBay yesterday and lost, but it still missed reserve at 22k.

 

[GreasySideUp]

If anyone can tell me why commas and punctuation are showing as question marks, that would be fantastic.

 

[hellsop]

If anyone can tell me why commas and punctuation are showing as question marks, that would be fantastic.

Did you type it straight into the webpage, or did you write it up in a word processor and paste it? Running any fancy extensions to make quotemarks "pretty"?