Thinking of cashing in on Saab’s misfortunes? Contemplating your own bankruptcy deal, where you can buy a brand new (well, nicely aged on the dealer lot) Saab for pennies on the dollar? Think again. Edmunds.com Senior Consumer Advice Editor Philip Reed says you will be in for a nasty surprise:
“Consumers shouldn’t expect a fire sale on unsold Saabs just yet. While incentives are no longer being offered for now, our research indicates pricing remains unchanged at Saab dealerships. Dealers are taking a wait-and-see approach since this situation is changing rapidly. But Edmunds.com analysts estimate that the True Market Value price of new vehicles will be discounted by an average of 28 percent from MSRP — and as high as 33 percent in some cases.”
That may happen, down the road. Currently, prices at some dealers are going up. Yes, you heard right. Up. Edmunds found a Saab dealership in Los Angeles where new Saabs are sold in “as-is” condition as if they were used cars, but they are priced at full MSRP. The reasoning is that some models had $12,000 in incentives the previous day, but these price breaks were no longer available because of the bankruptcy.
One reader told us that he went to a Saab dealer, made a lowball offer, only to hear the story that because Saab is in bankruptcy, the company will buy back all cars on dealer’s lots. Sure. And low flying pigs were sighted of Trollhättan.