Yet Another Value Question
Thread Starter
Burning Brakes
Joined: Mar 2008
Posts: 1,073
Likes: 8
From: Houston TX
Yet Another Value Question
Sooner or later I will be looking at jumping to a C6. My Corvette is a daily driver, and the next one will be as well.
Right now my car has 93,xxx miles.
My question is: do you think the car is worth significantly more sitting at <100K miles than if I hang onto it until it has, say 105K or 110K miles?
How does that 100K threshold affect values?
BTW, mine is a 1996 black on black LT4.
Right now my car has 93,xxx miles.
My question is: do you think the car is worth significantly more sitting at <100K miles than if I hang onto it until it has, say 105K or 110K miles?
How does that 100K threshold affect values?
BTW, mine is a 1996 black on black LT4.
Le Mans Master
Joined: Jul 2009
Posts: 6,381
Likes: 66
From: SF bay area C.A.
C4 of the Year Finalist
At those miles I would say it doesnt matter, what does matter and effects your asking price is the condition of the car, period. I bought mine at 105k and it was the cleanest car I looked at.
Race Director
Joined: Oct 2005
Posts: 11,770
Likes: 175
From: Rolla Missouri
2021 C4 of the Year - Unmodified Finalist
St. Jude Donor '10 thru '25
Overall condition will affect the value more than your mileage, once you get close to 100k
In other words, an excellent condition car with 120k miles will be worth more than a fair condition car with 90k miles.
For "added" or "retained" value, the mileage will probably have to be under 50K miles.
Racer
Joined: Jun 2009
Posts: 429
Likes: 0
From: Marlborough CT
It shouldn't make that much of a difference, however for some reason some people seem to think that cars fall apart when they hit 100K. You might see more interest in the car if you sell it before it hits that mark. That being said, after all is said and done it shouldn't affect the value that much.
Safety Car
Joined: Jun 2009
Posts: 4,738
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From: OC Calif
St. Jude Donor '10
I think it effects the 'average' buyer, not someone into Vettes. There's a stigma attached to 10x,xxx miles from way back when. The silly thing is, most of these cars can go 200k+ miles without needing a major engine overhaul (if maintained).
Racer
Joined: Sep 2010
Posts: 310
Likes: 0
From: Morehead Ky
The stigma that socalman is talking about is very strong in this area. I've purchased 3 DD over the years that had over 100K on them for cheap and were GREAT cars. Condition and maintenance is everything.
Moderator Emeritus
Joined: Jun 2002
Posts: 46,133
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From: Maryville Tn
CI 5 thru 12 Veteran
St. Jude Donor '09 thru '23
NCM Sinkhole Donor
Couldn't have said it better. I bought my first Vette (a '85) with 111,000 miles on it. Never had any problems with it and drove it daily when I wound up at Aberdeen Proving Grounds, MD for 94 days active duty in 2004(The transmission had to be rebuilt while I was there). She never left me stranded. Wouldn't mind having another '85. 
Thread Starter
Burning Brakes
Joined: Mar 2008
Posts: 1,073
Likes: 8
From: Houston TX
Good to know, because my 'Vette is going to see A LOT of highway duty this summer. It's in great condition and I can't wait to spend some quality time on the road with it.
Sounds like a C6 will be more of a plan for next year.
Sounds like a C6 will be more of a plan for next year.
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Drifting
Joined: Aug 2006
Posts: 1,624
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From: Canandaigua New York
It shouldn't make that much of a difference, however for some reason some people seem to think that cars fall apart when they hit 100K. You might see more interest in the car if you sell it before it hits that mark. That being said, after all is said and done it shouldn't affect the value that much.
Oh..oh..
I must be in trouble then, because my car has 219k on it....
Race Director
Joined: Dec 2000
Posts: 17,551
Likes: 26
From: El Paso Texas
I think it goes back to when cars had mechanical 5 digit + tenths odometers...."rolling over" your odometer meant the car was nearing the end of it's service life. And before EFI, there may have been some element of truth to it. The advent of EFI made them run so much cleaner that engine life was practically doubled.
I would think when they get to this age, 93K vs 103K isn't going to make a whole lot of difference. Condition and how well it runs will determine how much you get for it.
I would think when they get to this age, 93K vs 103K isn't going to make a whole lot of difference. Condition and how well it runs will determine how much you get for it.
Team Owner
Joined: Jan 2009
Posts: 73,568
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From: Somewhere in Mo
St. Jude Donor '09-'10, '14
The problem comes in from those who value a car. Ie NADA and such. When a car gets to 100K the value goes down. If it has less than the "average" considered mileage the value goes up as well.
Most people still use the 100K threshold. It is what it is! Some cars can now go over 200K and some will die at 75K.
It's all in the care a car receives.
The only issue you will have is findinf someone who buy a car with over 100K on it.
Most people still use the 100K threshold. It is what it is! Some cars can now go over 200K and some will die at 75K.
It's all in the care a car receives.
The only issue you will have is findinf someone who buy a car with over 100K on it.
Team Owner
Joined: Oct 2004
Posts: 81,241
Likes: 3,063
From: altered state
St. Jude Donor '05
To a car guy or someone who knows C4s/appreciates your car a few thousand more miles wont make a difference but to most they have a mental block about 100k miles for some reason and may use it to beat you down on price. THing is most 5-10 yr old cars exceed that mileage, too. Such is life
Instructor
Joined: Jul 2008
Posts: 101
Likes: 0
From: NC
Got my 90' with 190,000. Now it has 208,000. I did rebuild the motor 2000 miles ago, I didn't need to it ran great, I was just upgrading so I just started replacing things while the motor was out and pulled apart. I do wander how much it would be worth.
Drifting
Joined: Dec 2004
Posts: 1,313
Likes: 5
From: Middle Tennessee
I agree that a high mileage car's condition and apparent past care is the most important factor affecting it's value. I have never understood why anyone would buy a Corvette, keep it for 5 or 10 years and drive it 20 miles per year, then sell it at a loss over the MSRP. Not only do they lose money, but they actually lose more than they realize since the dollar loses value with each one that the Fed prints (and they are printing them as fast as they can lately). That's why the brand new 1970 Barracuda I paid about $3,500 for in November 1969 would cost $35-40,000 today. (Wish I still had that Barracuda!) BTW guys, cars are built to be driven!