C5 depreciation
Race Director
Joined: Sep 2004
Posts: 17,786
Likes: 4
From: Redsox, Pats, Celts & Bruins !!! Redsox Nation !!!
St. Jude Donor '06-'07-'08-'09-'10-'11-'12
IMHO, Vettes seem to drop off after the first 5 years. Then they tend to level off at about 40% - 50% of MSRP. It took me a year and much research before I purchased my C5 and those numbers are from my own research.
Drifting
Joined: Jan 2007
Posts: 1,758
Likes: 4
From: Wesley Chapel FL
I'm trying to buy a C5, I can't see the prices falling off the face of the earth. This stuff has all happened before, and Corvettes follow a certain pattern. Still the number one car for retained value as a % of purchase price. That being said, in this part of the curve I'd say to expect a slightly higher drop than last years.
Le Mans Master
Joined: Nov 2004
Posts: 9,984
Likes: 1
From: Assault is a behavior, not a device! Cypress TX
St. Jude Donor '11
I'm afraid we're going to take another hit when the new 430 hp engine hits the streets in the C6s. I know they still will technically be C6s but when buying, I believe a lot of people will drop the 05-07s down a notch and make a C6A (430 hp)and C6B (400HP) distinction. By this perception...we lowly C5 owners will be the third generation back and any current C4 owner can relate and will tell you that your C5 will be too old to be "new" and yet too old and plentifull to hold a high resale value. Hopefully I'm wrong but we will soon see. Just my .02.
Instructor
Joined: Jul 2007
Posts: 197
Likes: 0
From: West Jordan Utah
Burning Brakes
Joined: Jul 2007
Posts: 799
Likes: 16
From: Kansas City area
That said, I would sure hate to be over-analyzing depreciation scales before finally purchasing a Vette. C5's will depreciate. They are not classics (too many of them made). They are truly a drivers car. If you want a Vette, buy it. Whatever you might "save" in depreciation is more than replaced by extra months of pure driving joy!
Last edited by KCJeff; Aug 15, 2007 at 11:02 AM.
Drifting
Joined: Apr 2006
Posts: 1,936
Likes: 13
From: Redding California
A fact of life.......C5s are getting older, and have been superceeded by a newer model. Making this "worse" is the fact that the newer model is being heavily discounted. Brand new 1LT C6 coupes available for around $39K makes it very hard to get high dollar for even garage queen C5s. Plus, as is being discussed elsewhere on the forum, the economy is not ideal right now for the sale of "exotic toys", whether it be sportscars, boats, motorcycles etc. etc. Many people are struggling to make their mortgage payment and fill up their gas tank to get to work......which is hardly conducive to a boyant used Corvette market.
And, as happens every year, as we slip out of Summer and into Fall, prices will dip, and winter will see them fall even lower. And as the 430 hp 08 C6s become more common on the road, the 400hp C6s will drop in price, and the lowly 350hp C5 will slip accordingly.
But, a Corvette is still one of the best vehicles for holding it's price. Compare it to just about any other vehicle on the road and it is still a great buy.
And, as happens every year, as we slip out of Summer and into Fall, prices will dip, and winter will see them fall even lower. And as the 430 hp 08 C6s become more common on the road, the 400hp C6s will drop in price, and the lowly 350hp C5 will slip accordingly.
But, a Corvette is still one of the best vehicles for holding it's price. Compare it to just about any other vehicle on the road and it is still a great buy.
Corvette Stories
The Best of Corvette for Corvette Enthusiasts
8 Coolest Corvette Pace Cars (and Replicas) of All Time
Verdad Gallardo
Top 10 Corvette Engines RANKED by Peak Torque (70+ Years of Muscle!)
Joe Kucinski
Corvette ZR1X Will Be Pacing the Indy 500, And Could Probably Race, Too!
Verdad Gallardo
Top 10 Corvettes Coming to Mecum Indy 2026!
Brett Foote
Top 10 C9 Corvette MUST-HAVES to Fix These C8 Generation Flaws!
Michael S. Palmer
10 Revolutionary 'Corvette Firsts' Most People Don't Know
Joe Kucinski
5 Reasons to Upgrade to an LS6-Powered Corvette; 5 Reasons to Stay LT2
Michael S. Palmer
2027 Corvette vs The World: Every C8 vs Its Closest Competitor
Joe Kucinski
10 Most Common Corvette Problems of the Last 20 Years!
Joe Kucinski
Life Time NCM #2196
Joined: Sep 2004
Posts: 82,573
Likes: 1,684
From: Converse TX
A fact of life.......C5s are getting older, and have been superceeded by a newer model. Making this "worse" is the fact that the newer model is being heavily discounted. Brand new 1LT C6 coupes available for around $39K makes it very hard to get high dollar for even garage queen C5s. Plus, as is being discussed elsewhere on the forum, the economy is not ideal right now for the sale of "exotic toys", whether it be sportscars, boats, motorcycles etc. etc. Many people are struggling to make their mortgage payment and fill up their gas tank to get to work......which is hardly conducive to a boyant used Corvette market.
And, as happens every year, as we slip out of Summer and into Fall, prices will dip, and winter will see them fall even lower. And as the 430 hp 08 C6s become more common on the road, the 400hp C6s will drop in price, and the lowly 350hp C5 will slip accordingly.
But, a Corvette is still one of the best vehicles for holding it's price. Compare it to just about any other vehicle on the road and it is still a great buy.
And, as happens every year, as we slip out of Summer and into Fall, prices will dip, and winter will see them fall even lower. And as the 430 hp 08 C6s become more common on the road, the 400hp C6s will drop in price, and the lowly 350hp C5 will slip accordingly.
But, a Corvette is still one of the best vehicles for holding it's price. Compare it to just about any other vehicle on the road and it is still a great buy.
Very well said and I remember I bought my Vette in Dec 01 and glad I waited for winter prices was less than when I started looking for one in Oct
Terminal Vette Addict
Joined: Feb 2007
Posts: 1,634
Likes: 46
From: Philly PA
they are pushing the **** out of the models on teh lot because all true enthusiasts are waiting for the new LS3 and even with a $500 over invoice and up to 7 years at 0% then still cant move the LS2 because in 3 months you can get a LS3.
prelims look awesome on a tune, and intake to 460!
prelims look awesome on a tune, and intake to 460!
Drifting
Joined: Apr 2006
Posts: 1,936
Likes: 13
From: Redding California
Prices like this are bound to push C5 prices down...........
http://forums.corvetteforum.com/show....php?t=1786339
http://forums.corvetteforum.com/show....php?t=1786339
Racer
Joined: Jul 2004
Posts: 426
Likes: 0
Since this post is discussing c5 retail values I'll put in my 2 cents.
I went after a higher mileage vette in good condition for this exact reason. (100k miles)...I figure since I don't drive but one day a week...no sense in paying a premium for a low mileage on that will depreciate faster than a higher mileage one.
I went after a higher mileage vette in good condition for this exact reason. (100k miles)...I figure since I don't drive but one day a week...no sense in paying a premium for a low mileage on that will depreciate faster than a higher mileage one.
Instructor
Joined: Apr 2006
Posts: 198
Likes: 0
From: Birmingham Al
This topic comes up over and over again. One point that is rarely made involves the "low end" of the price scale. A C5 Corvette is worth WAY MORE than a Mustang or a Camaro of a similar year. It is also worth significantly more than a C4 due to extensive improvements made with the C5 intro in 1997.
Once a vette's (any model year) average price gets below 20 grand...there is very little room for the value to continue to fall. Are people selling nice C4's for 6 grand? I don't think so.
In summary, if you just bought a 2003-4 vette for 35 grand.....you are going to lose money fast. However, if you bought a 1998-9 for around 20 grand, it will continue to hold value without any difficulty.
You cannot buy ANY car that compares to the C5 vette for less than 15 grand. As long as that remains to be true....people will choose the vette for performance, style and price.
Once a vette's (any model year) average price gets below 20 grand...there is very little room for the value to continue to fall. Are people selling nice C4's for 6 grand? I don't think so.
In summary, if you just bought a 2003-4 vette for 35 grand.....you are going to lose money fast. However, if you bought a 1998-9 for around 20 grand, it will continue to hold value without any difficulty.
You cannot buy ANY car that compares to the C5 vette for less than 15 grand. As long as that remains to be true....people will choose the vette for performance, style and price.
Instructor
Joined: Dec 2006
Posts: 244
Likes: 0
From: Phoenix AZ
Another point to consider ..GM made a lot of '57 chebbies, too.
Try and find any decent 2-door '57 ..
..heck even a '67-'69 Camaro in decent shape ..they made a *LOT* of them.
I'm talking about 'decent' having all the trim, everything works, daily driver types ..not show cars or Pro street monsters.
Be prepared for a shock if you havent looked recently.
The C-5 is going to be one of the great ones ..it's a revolutionary change instead of evolutionary .. I dont beleive you will ever see one under 10k that's in decent shape.
I also beleive the early C-5's are bottoming out in value now.
In 5 years you will be hard pressed to find one in good shape for anywhere near 20k .. they're gonna go up.
.. just my opinion from what I have seen of other great cars.
-Frank
Try and find any decent 2-door '57 ..
..heck even a '67-'69 Camaro in decent shape ..they made a *LOT* of them.
I'm talking about 'decent' having all the trim, everything works, daily driver types ..not show cars or Pro street monsters.
Be prepared for a shock if you havent looked recently.
The C-5 is going to be one of the great ones ..it's a revolutionary change instead of evolutionary .. I dont beleive you will ever see one under 10k that's in decent shape.
I also beleive the early C-5's are bottoming out in value now.
In 5 years you will be hard pressed to find one in good shape for anywhere near 20k .. they're gonna go up.
.. just my opinion from what I have seen of other great cars.
-Frank
Race Director
Joined: Apr 2005
Posts: 10,179
Likes: 2,306
From: Wesley Chapel, FL Las Vegas, NV
08's are out
08s are at the dealers NOW.
Drove one today with 6 speed and the optional exhaust. Butterfly like the ZO6 give it 436 HP.
Offered to me at a few bucks below MSRP of approx $50K.
I think this will hit the 05-06-07 resellers harder then the C5 guys.
Drove one today with 6 speed and the optional exhaust. Butterfly like the ZO6 give it 436 HP.
Offered to me at a few bucks below MSRP of approx $50K.
I think this will hit the 05-06-07 resellers harder then the C5 guys.
Drifting
Joined: Apr 2006
Posts: 1,936
Likes: 13
From: Redding California
I agree. Even though C6s are being heavily discounted, they are still a lot of money for most folks.....even in base model form. And a fully loaded C6 'Vert or Z06 is beyond most people's reach. (Certainly beyond mine!) The C5 has a marketplace that people on more modest incomes can "afford", and isn't as directly affected by the advent of the new 08s. But, the trickle down effect is still there, and as 05-06-07 C6 owners sell at lower and lower prices they tempt what were previously potential C5 buyers. etc. etc.
All of them are great buys. Each must get what he/she likes and can afford.
All of them are great buys. Each must get what he/she likes and can afford.
Racer
Joined: Apr 2007
Posts: 355
Likes: 0
From: Dayton Ohio
Have a 99 vert. magnetic red stickered for $49,xxx that I bought this year in the mid to high 20's and it is worth that now and next year.
Have a 97 Caddy Eldorado's that stickered for over $50K- worth about $7,000- If it was a 99 Eldorado it would be wort about $9,000.
No doubt the vet is the best buy.
Have a 97 Caddy Eldorado's that stickered for over $50K- worth about $7,000- If it was a 99 Eldorado it would be wort about $9,000.
No doubt the vet is the best buy.
