A Saturn ION 1 is a great deal for $13325. A/C and CD player, that's it. But if you're looking for cheap, very reliable transportation, that's the way to go.
The Cobalt and ION are the same car save for the interior layouts and the ION has polymer vertical panels on the exterior--great for 10 years from now when you still own the car and there are NO dents in the doors or 1/4-panels! It gives you a proud, warm-fuzzy feeling that so little money went so far...
If you need power locks or windows, you'll need to step up to the ION 2, which, of course, costs more.
There's a $1500 offer if you're a current GM owner until Jan 31, 2005. Clipped from the Saturn site:
Get $1,500 when you buy
- or -
$750 when you lease an eligible new GM vehicle.
Offer ends January 31, 2005.
And, combine that with this offer:
Now, when you purchase or lease a new 2005 Saturn ION you get a choice of the following:
5 year / 60,000 mile extended vehicle coverage*
– or –
$1000 allowance to personalize your new ION
So, that's $2500 in incentives (I doubt you'll use the warranty on an Ecotech based GM car) which bring that ION 1 down to $10825. Saturn also has 0% for 36 months as well. Hard to beat a good new car, even one considered a "bottom feeder" for under $11000. This thing will last you 250K, easily.
As for the current Cavalier, I seriously looked at the entry level model which a local dealer had for $9K and 0% for 72 months. Insurance was almost $30 higher per month than my 96 Saturn and the crash test ratings are poor. I figure I'd hold out for a better car IMO. But the $125/month car payment was VERY attractive!