T-spec said:
So i get a rental car from the insurance *td*
This car is $15,710 stock from Gm, the new Honda civic is $16000....
Actually the new Civic is 16 800.
Freight and other fees are 1000$ at GM and 1200 at Honda.
So basically in terms of
REAL base prices we're talking:
Cobalt: (15 710 + 1000)* 1.155 =
19 300
Civic: (16 800 + 1200)* 1.155 =
20 790
So a difference of 1490$.
Now in most people's case (especially those who buy these type of cheap cars), they often go with financing.
At GM you cat get most of the time 0% for 60 months.
At Honda the rate is 6.4% right now for the new Civic, for financing; 7.4 for lease.
So calculate 6.4 % APR over 5 years on 20 790 we're talking in the area of 4000$ of interest.
So the total price difference (for someone who wants 60 months with 0 down) is in the area of 5500$ between a base Civic and a base Cobalt.
I'm not saying it's not worth it, that depends on what the buyer is looking for and what he/she has as a priority, but this difference isn't small and can make a big difference for someone on a budget.