Interested Buyer Needs Help!

[transio]

Hi everyone,

I'm new here. I'm looking to buy a proton yellow Vehicross, 2000 or 2001, and I've got $15,000 to spend. My problem in researching this vehicle has been getting a reliable source on market value. Because it's so low production and seems to have a pretty high depreciation, emotional value seems to play a big part in sale prices for the car.

However, some research has helped me to develop the following chart of values:

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Trade-in Retail Dealer
2000 $12,000 $13,500 $15,000
2001 $13,000 $15,500 $17,000
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This is assuming at or around 12k miles per year (so 36k miles for the 2001, and 48k miles for the 2000)

So the question is what should I expect to be able to get for $15k (+ tax, tag, etc.)? Is that too much to pay for a 2000 with 48k miles? I mean, if I turn around and trade that car to a dealership, I'll take a $3k loss, right? But at the same time, not many people are willing to part with '01's for $15k, but they'll trade them in to a dealership for $13k? I dunno, can anyone help me out? I'm really not too familiar with the market on these cars beyond this. What can I get for my money?

Thanks!

[Kahuna]

From doing alot of research myself about 3 months ago. I think your prices are under what people would be willing to sell them for. Not that you won't be able to find someone but......14 to 15.5 would usually get you a "99" with relitively low miles. I've seen 2001 go for as high at 20k (but not alot of buyers). For a "00" you should look somewhere between 15.7 and 18k and an "01" for 16k to what somebody is willing to pay.

As for buying from a dealer.......not a very good idea. I don't trust them. they just want to sell you a car not matter what the condition, which they probally don't know the real condition. Trust getting a VX from an owner, prefereably a first owner. Most of us take real pride in our VX's. A dealer could have bought one for some auction and inherited many problems.

There are alot of well educated VX owners in here that will also have great advise. The one thing I've learned about the people in here is most know thier suff. Listen to them

[theericharris]

I'm like you, looking to purchase a 2001 Proton in the next month or two. I've been watching Autotrader.com and eBay for the last 6 months to see what's available and how much they go for.

You probably will be looking at buying a really nice 2001 with under 30K miles for around $16K-$17K.

But again, there are always a few people willing to sell them cheaper.

For instance, currently a black VX on Autotrader with only 23K miles is going for $15,900 (click here)


Or check out this 2000 black beauty... even has custom rims, dark tint, and dual exhaust. Has 75K miles and they only want $12K for it. This might well be worth the drive! (click here)

[dkmiller68]

for what its worth...
I bought my 99 ironman 3 weeks ago. Not a proton, but whatever. I got it from the original owner, is in beautiful condition, has 37k miles. I paid $13,000. He was asking 14k. I probably could have paid less, but I was too excited to worry about it.
Don

[Jim98122x]

Try driving a $24,000 RAV4 and you will see that a VX is a great buy, for even several thousand more $$$ than those posted prices.

[dohvb1]

I agree with you about emotions playing a big part. I just got a 2001 Proton and I wasn't really in the market to buy a car yet. The way I figured it, since there were less than 400 2001 protons made, finding one that had less than 35k miles, some nice aftermarket mods, overall mint condition AND it was only 2.5 hours away, it was a chance of a lifetime. I paid $17900. Some may thing that's high, I'm convinced it was a bargain.

Good luck in your search.

[transio]

Thanks for the replies (and email), everyone. Very informative and useful. At this point, I'm teetering on what to do. If I pay my value for the car, I'm going to take a loss if and when I resell it. I certainly can't pay 17,9 for a car right now, but I'd still like to find a nice '01. I guess I'll have to keep looking.

Re: low residual values... it sucks, but it's a reality of owning a car these days. It's not just the VX that has lost significant value. Look at the Ford Focus. You can get a 2002 for $6k - less than half of what it sold for new. Look at the Aztek (lol, ok, don't look at it, I know it's ugly as sin). Look at the Lotus Esprit, Corvette C5 Z06 ($25k for a 2001 !!! That was a $55k car new !!!) Qvale Mangusta <- this was over 80k new... extremely rare, and yet sells now for $40k. Honda S2000... very popular car, great performance and great name, and yet '01s sell for $16k, less than half what they cost new. I have an '01 S2000 myself.

My best guess about car values these days is that the artificially low interest rates imposed by the fed in attempts to spark the economy led to automakers being able to create a really high demand for new cars. Why would someone buy an '01 when they could get a similar '05 for the same monthly payment!?

Anyhow, thanks again for the info... I hope I find something soon!

[t2p]

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It is difficult to get RELIABLE figures for the VX - (one reason) because of the low number that are sold - so you can just about forget the figures you find from the normal sources ........... KBB ..... Edmunds ...... etc. Few (if any) dealers will 'adhere' to them when the VX is concerned.
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With 15K to spend - you may be limited to a private party search. Probably a 99 also.
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Never say never - but there is a *extremely* minute chance you will find a clean 00 or 01 VX for 15,000 from a dealer - especially with low miles. Prices for the VX's have risen at auctions during the last year or so - and some used car dealers will pay close to published retail figures for clean VX at auction (especially if they have a potential buyer).
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The fortunate ones were the VX buyers in late 01 that purchased their VX's for thousands off sticker - and have the full factory warranty.
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btw: don't forget - some VX's that dealerships get were leased.

[Raque Thomas]

I don't know what part of the country you are in, but there is a dealer here in town (Louisville, KY) with a 2001 Proton advertised at $15,900. The ad says low miles, excellent condition. Let me know if you'd like me to check it out.

[PeteVX]

I just bought a 2001 yellow VX with 38,000 miles and a sliding roof and backup camera 3 weeks ago.

It took lots of research.... traderonline, ebay, carsoup, cars.com to name a few, I spent about 3 weeks looking, I was quite specific, it had to be an 01, yellow and low miles, I liked the 18" wheels, interior color scheme and longer warranty of the 01's (though i've read somewhere that the longer warranty isn't transferable?).

I took a risk, i flew out to Philladelphia from minneapolis on a one way ticket having agreed a price.

My car is in excellent condition and I handed over $15, 250 and had a wonderfull 1200 mile cross country roadtrip home in my new ride.

I guess if you're willing to wait, dont mind travelling you can eventually find a bargain which is what i consider mine to be.

note, i would have paid more...a car is worth exactly what someone is willing to pay, book values arent really worth anything on something like the VX, i saw them listed as high as $25,000 if someone will pay that good luck to 'em!!

I see depreciation slowing down as they become more collectible especially for well kept low milage cars.

Pete

[t2p]

Pete:
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Sounds like a great find - you 'stole' that VX for $15K.
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I spoke with two dealers recently that echoed your (same) thoughts almost exacty - the VX depreciation rate has slowed and the low mileage examples (especially) are fetching a good price.
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And unlike some/many other low production vehicles, most VX's are used (and used ........ and abused) - so the 'supply' of VX's is likely to tighten.
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The factory Isuzu warranty is transferable - but is 'halved' to the subsequent owner; the 5 yr/60k portion is now 2.5 and 30k - and the 10yr/100k (powertrain) is now 5yr and 50k. So the good news is that are covered. Call Isuzu (800 number) with your VIN to to process the transfer of your warranty.
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t2p

[Child's Play]

I just purchased the VX that theericharris is talking about on Autotrader, I got it for 15,500 with 24K miles. I drove 300 miles one-way to pick it up. I have been looking for around 6 months before I found the one that I wanted for the right price. Just remember, good things come to those that are patient. It may be a little more difficult for you if your are focused on a certain color, there were only so many of each color made, so you are limiting your options.

Good Luck in your search. AutoTrader has a lot of Protons for sale, maybe not in your price range, but take a look.

[theericharris]

Wow, good buy! You'll have to post some more pics of it under your gallery. Do you know what kind of wheels are on it? Size, brand, etc?

[t2p]

No - that was not a good buy - that was a great buy. Another steal. It would have been worth that price if he would have been required to crawl the 300 miles.
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Where was this car (or more accurately owner) when I was looking ? I looked for six months and could not find anything like this within 500 miles for under $17K.
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The owner - *Stephanie* - probably priced it using the KBB or Edmunds (or something) value - or might have based the price using a dealer trade in value. A dealer would have priced that VX at 20K - or more.
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Appears to be all stock - OEM 18" wheels and tires.

[transio]

Raque,

Thanks for the offer, but I already closed a deal this morning on a 25k mile proton for $15.7k. If the deal falls through, I'll keep you posted, but everything looks kosher so far!

Steve