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Import models:
2004 Volkswagen Phaeton:
Initially priced at upwards of $66,000, first-year models of Volkswagen's
ultra-premium large sedan have depreciated significantly -- to about $45,000 for
the V-8 model -- mainly because the car is not perceived as a high-status car,
even though it is just as nicely equipped and powerful as other cars of its
type. Another VW model in this category is the W8 version of the Passat
mid-sized sedan. An '04 model with the powerful eight-cylinder and VW's
excellent 4-Motion all-wheel-drive system has a current retail value of between
$24 and $26K-- or less than you'd pay to buy a current-year V-6 Passat with
4-Motion AWD. Like the Phaeton, the W8 Passat didn't quite break through in the
way VW had hoped. But that doesn't mean it's not a great car -- and a great deal
for you.
2000-2003 BMW 7-Series:
These "pre-Bangle" BMWs are in many ways more desirable than the
2003-present redesigned 7-Series, which has received mixed reviews for its
controversial exterior shape and notorious "iDrive" controller -- which many
people could live without. The classic lines of these older Sevens will wear as
the miles roll by, too -- very much as older Jaguars always look stately and
composed, even after 10 or 20 years have gone by. Current retail prices of
2000-2004 model year BMW 7-Series range from just over $25K to about $80K for an
extended wheelbase, V-12 equipped 760Li. But that's a lot more affordable than
the current car's $69K (for openers) MSRP.
2000-2004 Nissan Frontier:
If you need a compact pickup, you've run out of options -- if you want a new
pickup, anyhow. Nissan was the last automaker to offer a compact-sized pickup,
but in 2005 redesigned the Frontier to mid-sized dimensions -- and raised the
price by several thousand dollars, if you want 4x4. But you can pick up a
sturdy, reliable older Frontier -- with a reasonably fuel-efficient 4-cylinder
engine and four wheel drive (a combo no longer available in the new Frontier)
for around $7K for a '99 model to about $20K for a loaded (and barely used) '04
model.
1999-2004 Land Rover Discovery:
Though replaced by the larger,more powerful LR3, the iconic "Disco" has quite a
following among off-roaders and Land Rover enthusiasts. The only real downside
to owning a Discovery is that it rides and handles like a real-deal SUV --
meaning it's not at its best hugging hairpins or doing 90 on the freeway. But it
is immensely rugged and capable, with all the hard core off-road gear that has
made Land Rover vehicles famous over the years. And it's far better to take a
$12K used Discovery (the average retail value of a '99 model) off road than a
brand-new $44,000 LR3! (Older Range Rovers are also good deals -- especially now
that Land Rover has launched an al-new, redesigned model for 2006.)
Domestic models:
2004 Pontiac GTO:
The initial year of the "reborn" muscle car legend suffered from fairly
anonymous styling -- and was really hurt by the hardly-secret news that GM
planned to increase the car's engine size and power substantially for the '05
model year. Why buy a 350 horsepower GTO with a 5.7 liter V-8 when, a few months
later, you could buy a 400 horsepower one with an even bigger 6 liter engine?
The value of those first-year GTOs has taken a beating as a result -- down
almost $10,000 to about $24K on the used market. But the '04 model's 350
horsepower is nothing to turn one's nose up at -- especially if the price is
right. With just a portion of the many thousands you'll save buying an '04 Goat
vs. a brand-new one, you could easily bump the car's power up to the 400-hp
level and still have a wad in your pocket for tickets and insurance surcharges.
2001-2005 Pontiac Aztek:
It's not the best looker on the dance floor -- but underneath its
dumpster-on-wheels-body is a very solid GM minivan platform pretty much the same
as the less cosmetically challenged Pontiac Montana van and other GM minivan
cousins like the Chevy Venture and Buick Rendezvous (another good buy,
incidentally). There's nothing functionally wrong with the Aztek -- and if you
can get past the exterior styling, these things are ideal as inexpensive,
drive-the-wheels-off-them family haulers. You don't care what your lawnmower
looks like -- so long as it works. So why worry about the Aztek's funky lines --
if it saves you a fistfull of dollars? New, these vans were priced in the
mid-high $20K range; but you can pick up an '03 (for example) for about $13K --
roughly half price, chief! Even an '04 model (hardly a year old) has a retail
value of less than $15K.
(Another good buy in this category is the Ford Freestar and its predecessor, the
Windstar. Both are decent vans -- just not near the level of class leaders like
the Honda Odyssey or Toyota Sienna. But they're a whole lot cheaper -- and you
can put the money you save on car payments toward junior's college fund.)
2005 Buick LaCrosse:
This is a very nice mid-sized, near-luxury sedan that had the bad fortune to be
introduced as Buick enters its death throes -- very much like the last few
Oldsmobile models, especially the final year Aurora sedan (yes, another
excellent buy). This is a brand-new model with excellent build quality and
features for the dollar -- but GM is already discounting brand-new ones in an
attempt to shore up flagging sales. By early '06, you should be able to snap up
value-priced LaCrosse for a lot less than you'd pay for a Lexus ES330 or Toyota
Avalon. (The Pontiac G6 falls into this category as well. Oprah's loss is your
gain!)
2004 Chevy SSR:
This retro-styled sport truck is kind of interesting -- and though it hasn't
sold well, it can be a neat addition to your garage if you want something with
the curb appeal of something like a Plymouth Prowler but with some practical
considerations -- notably a lockable bed that can double as a nice-sized trunk.
Like the GTO, the first-year SSR suffers from lukewarm market response -- and a
horsepower deficit relative to the current (2005) model, which has caused its
value to drop considerably. You can buy an '04 for between $35K and $38K --
while a new one will cost you way more.
2000-2002 Lincoln Continental:
It's big and boozy, with an ultra-soft ride and a nice V-8 engine and plenty of
power. But because it never really took off, this large front-wheel-drive luxury
sedan was cancelled aftre the '04 run -- and as a result is a steal on the used
car market. This was a $45K car new; now it's available for about $17K. (The
just-retired Cadillac Seville is another model in this category.)
2003-2004 Mercury Marauder:
When new, Ford Motor Co. offered tremendous discounts on these all-black
high-performance versions of the full-size, six-passenger Mercury Grand Marquis
-- but despite the push, the Marauder never did as well as the very similar
Chevy Impala SS of the mid-late 1990s. Yet it's likely the Marauder's value will
pick up as they become more collectible -- and the fact is the Maruader's
300-horsepower 4.6 liter V-8 actually offers more total hp than the old Impala's
SS's Corvette-sourced V-8 did (though the Impala was a bit quicker). New, these
cars had MSRPs around $34,000. Now, their "street value" is around $23K. That's
a ten grand drop over just a single year. Good for you -- bad for the guy who
bought it first!
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