JCDenton

I think I have a deal in place to get a mint 06 with under 10k miles for $39k, but I guess I'm getting nervous because I've never spent anywhere close to this on a car.

What kind of resale might I expect after 4-5 years with 40k total miles on the car? The reason I am nervous is that I was just looking at 2001 C5s, and they are dirt cheap even with low miles. Is it just some combination of those cars being cheaper to begin with along with their body style looking dated (whereas a C6 will always look good) . . . or is it that any car is going to have its resale value tank as it goes from a 10 year old car to a 15 year old car?

Huskerman

The 427 cars will do well down the road but don't buy the car for an investment....buy it to drive the wheels off it. Your investment is the fun and enjoyment you will get from owning and using the car.......drive that sumbich who cares what it will be worth 10 years from now......by then you and it will be legendary.....

FAUEE

A pretty simple thing to do is watch the C5 Z06 market. Today, an equivalent C5Z is in the 23-27k range, depending on a lot of factors. so it's fair to infer that a similar curve will happen with the C6Z, where in a few years that car will be in the same range.

I'm going to be really blunt here though. If resale value is your major concern, these are not the cars for you. Go buy a Toyota Tacoma, it will set you at ease. You've got to understand the operating costs of these cars. 30k miles equates to $4500-6000 in tires on a widebody C6. It's every bit of $1000 in (good, aka not crappy ceramic) brake pads. These are not cheap cars to buy, or operate. A base C6 has a MUCH lower cost of operation because the pads are less aggressive, and the tires are much smaller and cheaper.

IMO, there's 3 Corvettes to buy for value right now. The C4ZR1, the C5, and the C6Z. It just depends on your appetite for performance, style, and operating costs. IMO, the base C5 is the BEST way to get into a Corvette right now, especially as a starter Corvette. Get a clean one for $20, drive it for a few years (or months - many people like the idea of driving a Corvette more than the reality), sell it in a few years for $14-15k. Just my personal opinion.

JCDenton

It's not my major concern, but I do factor it into my decision. There are things I like and dislike about an older C6 Z06, a newer C6 Grand Sport, or a C7, and if one would have a much lower cost of ownership than the others, that would definitely figure in. Would the high maintenance cost of the Z06 also apply to the grand sport? If I get a C6 I am set on the widebody and would not get a base. How are C7 costs?

Mr.Nubain

A lot of factors go into figuring out the value of the car in 5 years. Obviously if you drive the heck out of it it'll be worth significantly less. You mentioned 40K on the clock in 5 years, I'd say it would be worth somewhere in the mid to high twenty's. If the miles are kept extremely low, it would be worth a decent amount more, but no where near what you paid. These cars are far from investments. Expect to lose your a$$ on what you paid, the same goes true for any car. Buy a Vette because you love it, not because you think it'll be worth something because it's not going to be. I think the collectability of the Z's isn't much, but the 427's are a different story, but those too are still depreciating fast. The C6 went down in value faster than I expected, but now I know too not to jump the gun on buying a Vette.

Kent1999

I agree with FAUEE's value guess ... 2006 Z06 in 4-5 years and 40k miles will be $22k -$26k. Remember, in 4-5 years, a 2006 will be a *15 * year old car, and to make things worse, it will be a 15 year old car surrounded by rumors of catastrophic failure of its $17k engine.

As soon as the C7's price craziness subsides (and believe me, it will), C6's of all models will take a hit. I can't believe it has lasted even this long, but the market will rule as it always does.

My advice: Buy it if you *like* it. Buy it because it is a fantastic car (which it is). But DON'T buy it if you're counting on the fact that you will drive it for 5 years and get a high % of your money back.

Boba Fett

funny thread

mousetom78

First I own a C6 Z06 and I paid 36k for it back in 2012. I am going to sell my for a brand new C7 Z06 when this markup crap done and GM Supplier discount kick it.

I do have to say that buying a low mileage Z06 at z06 and drive it for 10 years and put 50k miles or more if you daily drive it daily. You can only get money worth as daily driver or summer driver for 5-10 years. Z06 will button out very very slowly. It will be a cheap daily rider as you can rock it. Please there is only 1% engine failure rate on LS7. I hear engine blow up everyday on all made and model car.

I would never buy a car 40k dollars to invest to "make money". Go buy some stock or real estate if you want to invest 40k. As far as investment goes, There are only a few cars to make it up above 40k that it is a classic when fully restored. Also, full restore cost alone would kill you as far as investment goes. For a 10k mileage car, it can be a survivor car with investment grade. That's given that you have a garage and you can willing to dash 40k away for investment for 10, 15, 20 or even 30 years to see what happen.

Personally, if you want to invest. I would look at cars in 80 to 90's now. They are cheap and they cool cars when us mid-late 30's old growing up aka. generation x in those days when we are hitting our sweet spot in our financial citation as we get older.

Example:

Fox body mustang certain models notch back LX with real 5.0, 93 Cobra etc ...
Grand Nationals
Turbo Trans AM
even late model trans am ws6, 02 CE, firehawk
GMC Cyclone or Tyhoon truck
91-94 king of the hill corvette ZR1

I am buying a notch back LX real 5.0 vin number for 5k from a buddy. this week to add to my 2002 Trans AM WS6 which i picked up 2 years ago as "investment" for 13k and that was bad from money return stand point to me. Sure the paint isn't as good as my C6 Z06 or car is as fast. Those cars are "money" in the pocket as far as I concern. They won't lose value from here.

FAUEE

Grand Sports are wide body cars just like the Z06, so the expensive tires are part of the deal. GS also has the same brakes as the Z06. The ZR1 is a wide body car too, but it runs 19/20 wheels and carbon brakes, so its cost of ownership is even higher than a normal wide body.

A C7 is a narrow body, so cheaper tires and brakes. But you're going to see a larger loss in value just outright.

Like I said before, a C5 is where it's at for a low cost to own Corvette. The C4ZR1 and a base C6 would be good too. A base C5 or C6 would be my choice if I was planning to put a large amount of miles on a car, or maybe a base C4.


One other thing to keep in mind, Corvette prices fluctuate wildly. The C6Z you're seeing at $39k, may be identical to a C6Z that will sell for $49k. Or it might be busted and have very good reason to be $10k cheaper.

reasonable suspicion

Send a PM to HOXXOH, he has the resale crystal ball.

usdmpwr07

It will hold value better than a brand new car, that is for sure. However, don't expect it to raise in price over the short term or really ever. Eventually, they will stabilize (and maybe gain a little value from that point if they are in really nice shape) and it will be just maintenance costs from there.

Rebel Yell

JC, folks are correct when they say don't buy a Corvette if resale is a concern. Unless it is a rare build (ZR1, 427 Vert, etc.) the loss will be comparable percentage wise as any car on the road. But, I figure the fun factor makes up for the depreciation where it has no factor in the plain people mover Impala.

BTW, no one as yet had mentioned the "Corvette Tax" that says you pay twice as much for some repairs. But as the old saying goes, "If you play, you pay". My advise is buy the car if you like it, and don't look back. You won't be sorry. Good luck on your decision.

mousetom78

for 40k, you can't beat the fun of driving a 505hp sport car that can kick a lot of other European cars butt cost a lot more money in straight line or in track. It looks good and drive nice and it is fast in stock form. I am going to trade in my z06 sometime this year for a c7 z06 hopefully. c6z performed the way I wanted it.

Wreckemraider81

You couldn’t have been more wrong lol. 06 Z06’s are still in the high 28-32k range.

FAUEE

5 years later and the costs of ownership of these cars have dropped dramatically. It's actually pretty crazy, we can get tires for about a grand that will last 30k miles now. We can get whole car brake kits with pads ND rotors for 500 bucks that will last a long time.

And of course, my prediction on C5s was spot on. Had someone bought that 20k c5, it'd be a 15k car now. Not bad depreciation.

joeking

Very good facts on these old posts.

VINAL13

We need those Corvette owners who worry about post purchase “depreciation”. The existence of these owners is what provides the used Corvette market with a good supply of Garage Queens.

My 2013/427 was a one owner with under 10k miles, I have a friend who just picked up his first Corvette this weekend, a 2010 Grand Sport, one owner with only 11K miles. I went with him to pick up the car, it was simply immaculate, not one scratch, leather seats looked new, engine bay spotless, original owner provided a folder with receipts of everything he did to the car since purchase! She looks amazing, like she just rolled off the showroom floor.

449er

If you are worried about taking a hit when buying a C6, look into a 427 vert....2,502 made compared to 28,000 Z06 cars. Same drive train & brakes, carbon fiber hood/fenders/floor pans, other than the frame a 427 is a convertible Z06. A nice, low mile 427 is selling for close to or over 50k vs a Z06 which you can buy for low 30s to 40s

JABCAT

Or another limited run car. I was ecstatic to find my Carbon Edition Z & it being a Callaway was just icing. The Carbon prices are still in the upper $50’s - mid-$60’s if you can find one.