CT5-V Red pill or blue pill?

[Boohorn]

I'm in a bit of dilemma as I need to chose between a 2023 electric blue 5BW vs a 2024 radiant red 5BW over the next few days. Both manual transmission of course.

Back story:
I ordered a 5BW from 2 different dealerships early 2022. One dealership located in Indiana (2 hour drive from where I live) contacted me in November 2022 to let me know that although my build/order had not yet received an allocation, another 5BW arrived that was ordered by another customer who backed out of the purchase last minute. The dealership did try to charge a $10k mark up but after we arrived we were able to negotiate the price down to sticker price so we purchased the car. At first I was not happy with the electric blue color but it has grown on me over time.

Fast forward to a few weeks ago, my local dealership (who I also had placed an order with), reached out via text message to let me know that my order had been built and was in transit for delivery. At this point I was convinced that I was never going to get an allocation through them and did not press it as we already had a 5BW which we happy with. Car finally arrived Dec 14th and I was told that I could pick up the car after the PDI was completed. Several days later, this past Tuesday, I texted the salesperson regarding the time frame for delivery as I had never had a PDI take so long. Apparently there were a few badges missing so they were waiting on those to be shipped to them (a text message letting me know would have been helpful).

Anyway, I drove the blue 5BW to the dealership on Tuesday mainly because I had the day off from work and was curious as to what they would give me for a trade in. I was leaning toward not bothering trading in as already have a car I am happy with.

Of course I researched trade in value before heading to the dealership (Carvana has to do a 'manual' appraisal because it is a high dollar vehicle so still waiting on that) and according to KBB, the trade in value is $98009. Sticker price was $99550. Also a CT5 BW 2022 manual was recently sold on BAT for $100k.

Unfortunately the dealership only offered $82k for the trade-in. I was told that it was going to be difficult to sell a car with a manual transmission in the winter time.....that is another story. So with trade-in (red car sticker price is $106895), it will cost me $26922.65 (was able to get this down another 1K but whatever).

So, if anyone is in the market for a CT5BW and do not want to wait, there is could be an opportunity to either buy the blue one directly from me or pick up the red one if I decide to keep the blue one.

 

[BimmerFan]

I don't see what the dilemma is, quite frankly, unless you just don't like blue. I would be shocked if you would spend $27K just to change colors.

No, wait, no I won't. There are Porsche guys who spec the CCB brakes (for $9K) just so that they'll have less brake dust to deal with.

The correct answer of course, is: what color does the wife prefer?

 

[DCV]

If you really hate the electric blue, just get it wrapped in another color and save the 26k. I have an electric blue 4 BW and I get compliments on it all the time.

 

[Boohorn]

Response:
I don't hate the blue color, I just like the red color more which is why I ordered that color to begin with. I agree, it is not financially wise to spend another $27k just to switch colors. There is the fact that it is a 2023 vs 2024 but that is probably not a huge issue.

Here are 2 major points that are being missed:
1. How the value has depreciated as far as trade in despite current market value.
2. There is a CT5 Blackwing up for grabs if someone is interested (at MSRP or lower depending).

Finally, the wife (who happens to be me) likes the red better. Not everyone on this forum is a dude. Just saying.
Photos of cars attached.

 

[BimmerFan]

Response:


Finally, the wife (who happens to be me) likes the red better. Not everyone on this forum is a dude. Just saying.

Totally agree, and my apologies. As I wrote that, I thought about qualifying my assumption (guy/gal/straight/gay/married/unmarried) but figured that the odds were with me. LOL, my bad.

FWIW, I like the red better too.

 

[668LT4]

If you have the means and really prefer the red, try to make it happen.

I'm surprised the KBB # is so high to be honest. But your dealer is obviously way low. Maybe look into selling the car to other dealers to try and get a better number. I temporarily bought a manual 4 BW while waiting for my 5. I had it 2 months and 2000 miles. When it came time to sell it in summer 2022, I called multiple local dealers. A local Caddy dealer worked out best and wrote me a check for 75 (MSRP was about 69). I recall an offer at MSRP and another in the middle. So maybe you find a dealer a bit more hot to trot to buy. Of course there is the tax credit if you trade to the dealer selling the new car, so maybe it does not work out.

Good luck. Either way, you're still driving the best sedan of all time

 

[division]

Just because I like to track the value of my cars for historical reasons, I got an appraisal from Carvana for my '23, $99k build CT5 for $84,000, so that's not really an unrealistic number. KBB can say whatever they want, regarding what the trade-in price should be, but based on your estimates and what they're going offering you, I'd think that the mid-$80s is a more realistic trade-in price. Keep in mind that with that $82k trade in, you'll have an equivalent sale price around $87k due to the tax savings (if that's the way Ohio works). As for the one on BaT, that one had 1,600 miles on it was a "Collectors Edition", and the equivalent price of that car would be closer to $115k, due to the carbon packages and how it's optioned. Unfortunately, your $99k car ain't gonna fetch $99k, even though it would be a few thousand dollars more if you ordered the exact same car, and no one wants to spend new money on a used car. And let's not forget that once 2024 rolls around, another used car price hit will take effect.

If you were to sell it on the open market, most likely you'd get around $90k, because it seems that used Blackwings just kind of sit there. The Venn Diagram of people that have $100k to spend on a car, people that want to buy a $100k used car, and (most importantly) people that want to buy a Cadillac is kinda small. We're all fans of the car here, but unless you really know cars, it's "just" a CT5-V, which is "just" a Cadillac. That's the snob appeal at work.

However, if you get another new one, you get another V-Performance Academy class.

 

[Roadhawk]

All great comments here. You should get the car that you want and have options. But in the end you have to decide how much just a color is worth to you. I personally prefer the red - its my favorite BW color...but folks really love the blue and I understand why.

Best of luck and hope it works out for you regardless. If you have the $ you could possibly keep both and drive the one you like best and maybe garage the other somewhere as a long term investment (unless you can find a buyer in the meantime).

 

[quikag]

They need to get your trade number up. They are ripping you off. Upper 80's at least IMHO.

 

[Boohorn]

Great advice everyone. I agree about the trade in value, KBB is a bit high but the dealer is low.... and the sales tax savings with a trade in. I have several days to ponder it. It is a win with either car.

 

[FLYARMY]

I was always told that KBB is not in the car buying business. They just tell you what they believe it to be worth. Usually they are wrong. The best place to get a car value is from a site called Galves.com . This is a site that tracks many of the car auction sales of that specific type/optioned vehicle. You have to pay some money to use it. Well worth it. This is also the site that 80% of car dealers use to get what the car will sell at auction as a last resort for them. If its a popular car, they will low ball you knowing what Galves has told them. When I went to trade in my 2012 Chevy Suburban Z71 , I had my printout of the Galves estimated worth of 22k. The dealer offered me 15k for it. After they saw my paper, they came up to 18k and I saved 2k in taxes, giving me a respectable 20k for my trade. **** Then I found my Suburban for sale at Fred Bean in Pennsylvania and they were asking 30k for it !!

** Also, I had my 2018 Chevy Colorado ZR2. I paid 43k out the door price. I had it 3.5 years with 19,000 miles. The car was mint. I added a hard, retractable bed cover, some LED lights , tinted the windows and some side steps. I spent 3500 in upgrades. When I knew my CT5 BW was coming , I went looking on all the site (Carvana etc) . Within 5 minutes I had ALGO.com (Autolenders) calling me , asking about my truck. Now, this was during the end of COVID and there were no vehicles to found on dealer lots. They offered me 35k and I declined. They asked me what would make me happy and I said 40k. 2 minutes later, they agreed. A week later, a tow truck showed up, the driver went over my truck, complimented what a nice ride and handed me a check for 40k. I used that money for my downpayment on the BW.

 

[HoustonCuse]

My buddy who is a sales manager at a mopar dealership said nobody uses KBB in the business, that NADA is far more in line with what they use.

On your dilemma, reasonably it just doesn’t make any financial sense to spend $25k for a color swap/one model year change. It’s funny but I really wanted the electric blue and settled for the radiant red when I got my 4BW. I could have gotten the track edition car in the blue for about $8k more (which added CF1 and 2 and the cooler interior) and I still thought it was too much to get the color I wanted so that calibrates where I’m coming from on the issue.

 

[565565]

For what it's worth, electric blue is now discontinued, it was also the hero color for the CT5 V Blackwing on release. That combination usually results in better resale down the line.

Obviously I'm biased since I chose electric blue.

 

[dinkman]

that much moey isnt worth one model year newer and more preffered color
you can rewrap the car 5-6 times over for that

 

[Badillac]

I agree it's kinda crazy to spend $27K more for a color change & one MY newer. That's like 25% price increase! Like others said, have it wrapped (or even repainted!) for much cheaper. But if $ isn't a thing.... the you should keep both!!

The dealer is trying to screw you. Don't mean to pull the "female card", but it's true-- they take advantage of female buyers all the more. He/she is lying when saying it's hard to sell MT in winter.

I have an electric blue & regretted it before I even took delivery....but I came to love it. I'm not one who likes to draw attention w/ such a popping color but I learned it definitely has it's advantages if you're a speed demon like myself. When flying down the freeway (or track) at 120+speeds, the bright color lends to warning other drivers.

Guess you can't make a bad decision here. Both a beautiful & wonderful

 

[jbawden]

Finally, the wife (who happens to be me) likes the red better. Not everyone on this forum is a dude. Just saying.

The husband (who happens to be me) is a fan of 3rd person forum posts, this is great. He also agrees red is WAY better but not for the huge $$ penalty.

 

[shbox]

I think the dealers use Black Book, but it is a pay to play package for businesses.

 

[Finally-a-V]

Personally, I'm partial to the Infrared and Radiant Red. It's stunning in the sun. If you really like the red over the blue (assuming they are equipped about the same), I'd try to make a better deal with you're dealer. They will always have some excuse why yours is crap and the new one is the best. End of the month and end of year is right around the corner.

I don't know your personal situation, but maybe if you can cut that down to $23K or less, it might be worth it to you. Maybe you'd be happier, especially if you plan to keep it for a long time. The other option is to sell the Blue on your own and order a Red one.

Good luck and let us know what happens.

 

[Magnetic Flux]

How can you deny the red pill…

But in all seriousness, I couldn’t make the leap for that amount of money just for a color change. I do love my RR color (besides the horrible GM paint).

 

[Speed Racer 007]

I'd say whatever will float your boat, it's only money!