C5 values-where's it going????????/
Thread Starter
Melting Slicks
Joined: Dec 2004
Posts: 2,815
Likes: 936
From: Cortez, FL/Canandaigua NY (Summer)
C5 values-where's it going????????/
I tried to sell my mint 2004 C5 and got no interest. There are lots of them around and very few buyers. Where is this going? I think the values on the C5 are going to drop fast.
I traded it in and got a left-over 2005 while I still had some value.
I don't mean to bail on you nice people but I had to strike while the iron was hot. GM just offered $1000 cash on C6.
I traded it in and got a left-over 2005 while I still had some value.
I don't mean to bail on you nice people but I had to strike while the iron was hot. GM just offered $1000 cash on C6.
Race Director
Joined: Jul 2004
Posts: 16,795
Likes: 62
From: Lake Havasu City, AZ
The question is did you overprice your mint 2004 in the private market?
I 'm surpirsed. You should have been able to pocket $1-2K in a private sale versus a trade in.
where did advertise... here on the Forum, , other Corvette site? Autotrader?
I 'm surpirsed. You should have been able to pocket $1-2K in a private sale versus a trade in.
where did advertise... here on the Forum, , other Corvette site? Autotrader?
Melting Slicks
Joined: Sep 2004
Posts: 3,024
Likes: 18
From: DFW Texas
I think it is fairly distressing to see the C5's For Sale section and see so many, especially new posts every day.
I've not tried Autotrader or Cars.com yet, but a striking reality of Ebay prices seems to point towards a rapidly declining value on them.
Must agree with Jeffthunbird on this one. It's a shame to watch the values drop. And, you gotta beleive that every one here, on the forum, for sale aren't ALL going out to get new C6's... So, why the rush to dump them.
I'm amazed by the total lack of response on my 99 C5 M6. At around $20k with GMPP, two sets of wheels, and virtually no response. I already traded for another C5 and would have never dreamed I've still got two! Maybe I could just trade both of them for a C6
Who would have thunk. 
I've not tried Autotrader or Cars.com yet, but a striking reality of Ebay prices seems to point towards a rapidly declining value on them.
Must agree with Jeffthunbird on this one. It's a shame to watch the values drop. And, you gotta beleive that every one here, on the forum, for sale aren't ALL going out to get new C6's... So, why the rush to dump them.
I'm amazed by the total lack of response on my 99 C5 M6. At around $20k with GMPP, two sets of wheels, and virtually no response. I already traded for another C5 and would have never dreamed I've still got two! Maybe I could just trade both of them for a C6
Who would have thunk.
Melting Slicks
Joined: Apr 2005
Posts: 3,469
Likes: 4
Well, right now is about the worst time of year to be to be selling. And just keep reminding yourself that you bought it as something to drive, not as an investment. Compared to most every other car, a C5 is doing just fine holding value.
Racer
Joined: Sep 2005
Posts: 284
Likes: 0
From: Austin, Texas 2005 National Champs in Football and Baseball.
The answer to the question of where C5 prices are going is easy: they are going down. As are C6 prices. Very few cars hold their value for the short run and even fewer appreciate, compared with the time value of money, in the long run. Even big block C2's didn't become super expensive "collector's cars" until they were at least 20 years old and even at the astronomical prices they are bringing today, they only barely beat inflation and the time value of money.
For example, I paid $6100 for a new, fully-loaded Corvette coupe in 1966. Assumming 6% inflation (or interest, if you prefer) for 40 years, that car should cost about $66,502 today. Surprisingly, that's pretty close to the price of a loaded C6 coupe. If near perfect, that car would probably bring $80-90K today. That ain't much return for 40 years of waiting.
So buy the car you love and drive it. Don't try to chase the market, because as soon as you drove that new C6 (which was already a "year old" and depreciating), the value was declining. For me the way I feel when I'm driving my Vette is worth every penny it's costing me.
For example, I paid $6100 for a new, fully-loaded Corvette coupe in 1966. Assumming 6% inflation (or interest, if you prefer) for 40 years, that car should cost about $66,502 today. Surprisingly, that's pretty close to the price of a loaded C6 coupe. If near perfect, that car would probably bring $80-90K today. That ain't much return for 40 years of waiting.
So buy the car you love and drive it. Don't try to chase the market, because as soon as you drove that new C6 (which was already a "year old" and depreciating), the value was declining. For me the way I feel when I'm driving my Vette is worth every penny it's costing me.
Drifting
Joined: Jan 2003
Posts: 1,339
Likes: 1
From: Tottenham Ontario
Originally Posted by VinnieR
The answer to the question of where C5 prices are going is easy: they are going down. As are C6 prices. Very few cars hold their value for the short run and even fewer appreciate, compared with the time value of money, in the long run. Even big block C2's didn't become super expensive "collector's cars" until they were at least 20 years old and even at the astronomical prices they are bringing today, they only barely beat inflation and the time value of money.
For example, I paid $6100 for a new, fully-loaded Corvette coupe in 1966. Assumming 6% inflation (or interest, if you prefer) for 40 years, that car should cost about $66,502 today. Surprisingly, that's pretty close to the price of a loaded C6 coupe. If near perfect, that car would probably bring $80-90K today. That ain't much return for 40 years of waiting.
So buy the car you love and drive it. Don't try to chase the market, because as soon as you drove that new C6 (which was already a "year old" and depreciating), the value was declining. For me the way I feel when I'm driving my Vette is worth every penny it's costing me.
For example, I paid $6100 for a new, fully-loaded Corvette coupe in 1966. Assumming 6% inflation (or interest, if you prefer) for 40 years, that car should cost about $66,502 today. Surprisingly, that's pretty close to the price of a loaded C6 coupe. If near perfect, that car would probably bring $80-90K today. That ain't much return for 40 years of waiting.
So buy the car you love and drive it. Don't try to chase the market, because as soon as you drove that new C6 (which was already a "year old" and depreciating), the value was declining. For me the way I feel when I'm driving my Vette is worth every penny it's costing me.
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Thread Starter
Melting Slicks
Joined: Dec 2004
Posts: 2,815
Likes: 936
From: Cortez, FL/Canandaigua NY (Summer)
Agree with all the posts on this. Everything is going down, bad time of year, etc.
2004, A4 2200 miles, vert, LeMans blue, MSRP $56,100.
Estimations from my recent memory (not always that good)
KBB Trade $39k
KBB Individual: $43k
KBB retail: $46k
All KBB way off.
EBay is around $33k for my car (actual sold)-sucks
Asking price in local paper and on very busy street locally: $42,500
I asked $42 on forum in a number of threads in the last week.
On a trade, It's a little hard to pin it down but...Got GMS level ($8500 off) on the '05 and with $1000 cash back and $1000 reward on my GM card, I netted out $38,400 in real $. Plus saved 7% on tax.
If I hold the '04 until Spring, I might be able to do a little better but then I'm paying close to sticker on an '06.
Actually, I don't see how I could do any better. Got the exact car I wanted including the elusive Z-51 with MN6.
If anybody is interested in my math, shoot me a PM and I'll share it.
2004, A4 2200 miles, vert, LeMans blue, MSRP $56,100.
Estimations from my recent memory (not always that good)
KBB Trade $39k
KBB Individual: $43k
KBB retail: $46k
All KBB way off.
EBay is around $33k for my car (actual sold)-sucks
Asking price in local paper and on very busy street locally: $42,500
I asked $42 on forum in a number of threads in the last week.
On a trade, It's a little hard to pin it down but...Got GMS level ($8500 off) on the '05 and with $1000 cash back and $1000 reward on my GM card, I netted out $38,400 in real $. Plus saved 7% on tax.
If I hold the '04 until Spring, I might be able to do a little better but then I'm paying close to sticker on an '06.
Actually, I don't see how I could do any better. Got the exact car I wanted including the elusive Z-51 with MN6.
If anybody is interested in my math, shoot me a PM and I'll share it.
Racer
Joined: Sep 2005
Posts: 284
Likes: 0
From: Austin, Texas 2005 National Champs in Football and Baseball.
Who cares about your math? Figure it any way that works for you. The only thing that matters is what you said: "Got the exact car I wanted..." How great is that!!!
Corvettes are about passion, nothing else. If I analyzed it closely and scientifically, I wouldn't have taken the breath taking, ear-to-ear grinning, top down ride through the Texas Hill Country this afternoon that I did. Not to mention that, to me, it just happens to be the most beautiful piece of automotive art I've ever seen.
If you can afford to pay for the passion (and the kids aren't going hungry), then enjoy the ride and don't look back.
Corvettes are about passion, nothing else. If I analyzed it closely and scientifically, I wouldn't have taken the breath taking, ear-to-ear grinning, top down ride through the Texas Hill Country this afternoon that I did. Not to mention that, to me, it just happens to be the most beautiful piece of automotive art I've ever seen.
If you can afford to pay for the passion (and the kids aren't going hungry), then enjoy the ride and don't look back.
Administrator
Joined: Mar 2001
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From: In a parallel universe. Currently own 2014 Stingray Coupe.
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Hey, you got a great car in the C6 - drive it and enjoy. 
Le Mans Master
Joined: Jan 2001
Posts: 8,238
Likes: 0
From: Lakeland, Center of Florida Fl
Even the highly modded cars arent bring in a a lot of money. I just sold mine for 41,200. Right now Iceburghs amazing vette is on ebay for buy it now price of 40k.
Take your time find the right buyer for your car and you will get more.
Jon
Take your time find the right buyer for your car and you will get more.
Jon
Safety Car
Joined: Jul 2004
Posts: 4,806
Likes: 70
From: Rochester MN
Originally Posted by XCELER8
Even the highly modded cars arent bring in a a lot of money. I just sold mine for 41,200. Right now Iceburghs amazing vette is on ebay for buy it now price of 40k.
Take your time find the right buyer for your car and you will get more.
Jon
Take your time find the right buyer for your car and you will get more.
Jon
Safety Car
Joined: Feb 2002
Posts: 4,038
Likes: 0
From: Springfield MO
St. Jude Donor '03-'05-'06-'07
Originally Posted by VinnieR
Who cares about your math? Figure it any way that works for you. The only thing that matters is what you said: "Got the exact car I wanted..." How great is that!!!
Corvettes are about passion, nothing else. If I analyzed it closely and scientifically, I wouldn't have taken the breath taking, ear-to-ear grinning, top down ride through the Texas Hill Country this afternoon that I did. Not to mention that, to me, it just happens to be the most beautiful piece of automotive art I've ever seen.
If you can afford to pay for the passion (and the kids aren't going hungry), then enjoy the ride and don't look back.
Corvettes are about passion, nothing else. If I analyzed it closely and scientifically, I wouldn't have taken the breath taking, ear-to-ear grinning, top down ride through the Texas Hill Country this afternoon that I did. Not to mention that, to me, it just happens to be the most beautiful piece of automotive art I've ever seen.
If you can afford to pay for the passion (and the kids aren't going hungry), then enjoy the ride and don't look back.
want and don't really care if prices are going down or up. I'm getting
miles of smiles and thats the bottom line for me!
Le Mans Master
Joined: Jun 2004
Posts: 6,269
Likes: 50
From: Dallas Texas
St. Jude Donor '06-'07-'09-'10
Originally Posted by VinnieR
The answer to the question of where C5 prices are going is easy: they are going down. As are C6 prices. Very few cars hold their value for the short run and even fewer appreciate, compared with the time value of money, in the long run. Even big block C2's didn't become super expensive "collector's cars" until they were at least 20 years old and even at the astronomical prices they are bringing today, they only barely beat inflation and the time value of money.
For example, I paid $6100 for a new, fully-loaded Corvette coupe in 1966. Assumming 6% inflation (or interest, if you prefer) for 40 years, that car should cost about $66,502 today. Surprisingly, that's pretty close to the price of a loaded C6 coupe. If near perfect, that car would probably bring $80-90K today. That ain't much return for 40 years of waiting.
So buy the car you love and drive it. Don't try to chase the market, because as soon as you drove that new C6 (which was already a "year old" and depreciating), the value was declining. For me the way I feel when I'm driving my Vette is worth every penny it's costing me.
For example, I paid $6100 for a new, fully-loaded Corvette coupe in 1966. Assumming 6% inflation (or interest, if you prefer) for 40 years, that car should cost about $66,502 today. Surprisingly, that's pretty close to the price of a loaded C6 coupe. If near perfect, that car would probably bring $80-90K today. That ain't much return for 40 years of waiting.
So buy the car you love and drive it. Don't try to chase the market, because as soon as you drove that new C6 (which was already a "year old" and depreciating), the value was declining. For me the way I feel when I'm driving my Vette is worth every penny it's costing me.
Who remembers the early '70's when gas prices went out of sight and 427 big block Vettes were a dime a dozen. Guys were pulling the 427's to put in small blocks. Now they're worth big bucks because of limited production. The new Z06 may hold its value, but that again depends on how many GM makes.