[Z06] ZO6 Price Drop?
Thread Starter
Instructor
Joined: Jul 2006
Posts: 142
Likes: 0
From: Collierville TN
ZO6 Price Drop?
I will be in the market for a Z around the end of the year (I'm still trying to get rid of my F-body 
). When will the prices start to drop?
Predictions: How much will a 2003 MY ZO6 (30,000 mi.) cost at the first of next year?
). When will the prices start to drop?Predictions: How much will a 2003 MY ZO6 (30,000 mi.) cost at the first of next year?
Melting Slicks
Joined: Feb 2001
Posts: 2,562
Likes: 1
From: (Temporarily) Colorado Springs Colorado
I don't believe they will drop at all. The price increase for the C6Z was so steep that the C5Z is still (as it was new) the best purchase for performance in the world. Someone posted an article that tracks used auto prices and the C5Z increased 2% between 2006-2007.
In the fall of 2005 I needed to sell one of my Vettes, the book value (KBB & NADA) was too much more than they are today. Also, some of the low ball offers then are what 02 Z's with my mileage, condition etc ... are selling for today. As with every car ... prices vary with condition, mileage, options and location !
Good luck with your purchase.
In the fall of 2005 I needed to sell one of my Vettes, the book value (KBB & NADA) was too much more than they are today. Also, some of the low ball offers then are what 02 Z's with my mileage, condition etc ... are selling for today. As with every car ... prices vary with condition, mileage, options and location !
Good luck with your purchase.
Instructor
Joined: Apr 2007
Posts: 152
Likes: 0
I was just having this conversation with an associate of mine who works for JD Powers, and he feels the next 9-12 months will see a noticeable decrease in the C5, and to a lesser extent, the C5 Z06. He cites the fact that the third year of the C6 and an influx of used cars from the latest generation will dilute the C5 market just as it has over the last several body changes. Typically, the third year of a new car will significantly affect prices on the previous car and with the next Vette on the horizon it’s bound to happen. Also, with the new base Vette performance closer to the C5 Z06, the transition will further gap the older Vette. With higher miles used C6 Z06's coming on the market as well in their third year, the price will eventually be within reach of a larger market.
I did not agree with all his points, but he has been in the market for 27 years and has seen a lot.
I did not agree with all his points, but he has been in the market for 27 years and has seen a lot.
Instructor
Joined: Jan 2007
Posts: 227
Likes: 0
From: Garden Grove CA
I don't believe they will drop at all. The price increase for the C6Z was so steep that the C5Z is still (as it was new) the best purchase for performance in the world. Someone posted an article that tracks used auto prices and the C5Z increased 2% between 2006-2007.
I hope the prices stay flat for a while. I like having a car that is worth more than I owe on it
Melting Slicks
Joined: Feb 2001
Posts: 2,562
Likes: 1
From: (Temporarily) Colorado Springs Colorado
If you don't like the look or haven't grown use to the look of the C6 ... I believe the C5Z is your best alternative. The FRC look is undeniably very pleasing to the eye. With the price of the C6Z's with most dealer's (adjusted market value mark up) nearing $85,000 and more ... many new performance/handling oriented Vette buyers will naturally drift down to the C5Z. Compare the prices of the 99-00 FRC's to a coupe and you will see that the difference in visual appeal and desirability raises the prices.
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Melting Slicks
Joined: Feb 2001
Posts: 2,562
Likes: 1
From: (Temporarily) Colorado Springs Colorado
Man ... jump on a clean, low mileage car today and post your pictures if you really think there are Z's out there going for that.
Melting Slicks
Joined: Jul 2007
Posts: 2,760
Likes: 0
From: Sacramento CA
I payed 22,500 for mine just a couple weeks ago... granted I found one hell of a deal... I expect prices to continue to drop, how-ever, Z06's in great condition typically see north of 30k.
Le Mans Master
Joined: Dec 2006
Posts: 7,251
Likes: 16
From: Phoenix Arizona
Intermediate
Joined: Jun 2007
Posts: 32
Likes: 0
(In other words, he's not asking what CURRENT prices are.)
Melting Slicks
Joined: Nov 1999
Posts: 2,460
Likes: 352
From: Madison Alabama
I watched the Z06 market starting in Nov of 04 and pulled the trigger in Feb of 05. The market will fall somewhat in the winter and start to rise in the spring. I stumbled on a deal;2004 with 11K miles for $36K, great price for a Z06/Z16. These cars are going for $32 ~ $34 now...well, I say going, who knows what they are actually selling for. I agree, you can find nice Zs for around $30K but recommend you look for one with an extended warranty. One more thing, in the end don't haggle over $1K when you're dealing with a $30K+ purchase. And enjoy the hunt, this is one of the best parts of Corvette ownership!
Drifting
Joined: May 2004
Posts: 1,822
Likes: 2
From: San Clemente CA
Well, I'd say Chevy is expecting prices to drop quite a bit. Granted, I got a great deal on my '04Z (cap cost anyway), but my lease buyout next April is for about 24 grand (only have 20k miles on the Z). I think Chevy underestimated the market for these cars. Either that or prices really will drop like a stone in the next 9 months! I'll definitely be buying out this puppy. The C6 just doesn't do it for me. 
Le Mans Master
Joined: Dec 2006
Posts: 7,251
Likes: 16
From: Phoenix Arizona
Well, I'd say Chevy is expecting prices to drop quite a bit. Granted, I got a great deal on my '04Z (cap cost anyway), but my lease buyout next April is for about 24 grand (only have 20k miles on the Z). I think Chevy underestimated the market for these cars. Either that or prices really will drop like a stone in the next 9 months! I'll definitely be buying out this puppy. The C6 just doesn't do it for me.
yeah c6 is girly car
hasta la vista baby !
