over-priced C5s
Thread Starter
7th Gear
Joined: Sep 2007
Posts: 7
Likes: 0
over-priced C5s
I have been searching this forum for a nicely priced C5. I'm not cheap but nor do i like to get screwed. I also shop the online car dealerships. Here is what I have collected from my research and I need an explanation because I just dont understand it.
The people on this forum, with the exception of only about 5, over-price their cars. And not just a few hundred or $1000... but by $4k or even as much as $6k. I see dealerships selling the same year model car with the same options and sometimes less miles for way cheaper. Can anyone tell me what's the reasoning for this? It's making it very hard to shop for a vette. Of course i would rather buy from a one owner and garage kept and babied, never stored outside, etc.... but is that the price i have to pay for this??? I have looked a lot of used dealership vettes and they are pretty frickin hot!
Please explain why 90% of the vettes on this forum are over-priced please.
The people on this forum, with the exception of only about 5, over-price their cars. And not just a few hundred or $1000... but by $4k or even as much as $6k. I see dealerships selling the same year model car with the same options and sometimes less miles for way cheaper. Can anyone tell me what's the reasoning for this? It's making it very hard to shop for a vette. Of course i would rather buy from a one owner and garage kept and babied, never stored outside, etc.... but is that the price i have to pay for this??? I have looked a lot of used dealership vettes and they are pretty frickin hot!
Please explain why 90% of the vettes on this forum are over-priced please.
Melting Slicks
Joined: May 2000
Posts: 2,498
Likes: 4
From: Brentwood TN
Does anyone ever buy any of these overpriced Corvettes? If so, by definition they are not overpriced. Any good or service is worth no more than someone is willing to pay for it. Whether it is a $14,000.00 desert at a vacation resort or a $300,000.00 Mercedes, or a $1,000,000.00 Hemi Cuda, if it sells at that price, someone thought the object was worth exactly what they paid or more.
Conversely, if the $30,000.00 '98 vert with 65,000 miles doesn't sell for $30K and the owner REALLY needs to sell it, the price comes down. Keep watching for someone who has to get out from under a Corvette that suits your needs. I have done so twice in the last ten years and bought generally good cars at or close enough to Kelly Blue Book to be satisfied. It took a lot of time and patience (nearly a year to find the C4), but eventually I found the car.
Charlie
Conversely, if the $30,000.00 '98 vert with 65,000 miles doesn't sell for $30K and the owner REALLY needs to sell it, the price comes down. Keep watching for someone who has to get out from under a Corvette that suits your needs. I have done so twice in the last ten years and bought generally good cars at or close enough to Kelly Blue Book to be satisfied. It took a lot of time and patience (nearly a year to find the C4), but eventually I found the car.
Charlie
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
Sadly some people can't face reality. Generally a lot of the C5 crowd are experiencing first hand what the C4ers have been facing for years...the bottom has fallen out on what is now ten year old technology. We Vetters all think our cars are special so we naturally should get more for our car because they are...you know...SPECIAL.
Now you understand this applies only if we are selling...because if YOU are selling...you can bet the car will be overpriced!
Now you understand this applies only if we are selling...because if YOU are selling...you can bet the car will be overpriced!
Racer
Joined: Jul 2006
Posts: 306
Likes: 1
From: MI
also in reference to your last question i think that MAYBE 5% are overpriced. Most of the corvettes on this forum are owned by enthusiasts not just people and knowing how they have been cared for makes a difference in value in my eyes. Sometimes you can search a users screen name and see a modded car ''grow up'' kinda neat
Jacks996
Joined: Sep 2005
Posts: 8,667
Likes: 12
From: eagle mountain lake tx
Cruise-In VIII Veteran
I have been searching this forum for a nicely priced C5. I'm not cheap but nor do i like to get screwed. I also shop the online car dealerships. Here is what I have collected from my research and I need an explanation because I just dont understand it.
The people on this forum, with the exception of only about 5, over-price their cars. And not just a few hundred or $1000... but by $4k or even as much as $6k. I see dealerships selling the same year model car with the same options and sometimes less miles for way cheaper. Can anyone tell me what's the reasoning for this? It's making it very hard to shop for a vette. Of course i would rather buy from a one owner and garage kept and babied, never stored outside, etc.... but is that the price i have to pay for this??? I have looked a lot of used dealership vettes and they are pretty frickin hot!
Please explain why 90% of the vettes on this forum are over-priced please.
The people on this forum, with the exception of only about 5, over-price their cars. And not just a few hundred or $1000... but by $4k or even as much as $6k. I see dealerships selling the same year model car with the same options and sometimes less miles for way cheaper. Can anyone tell me what's the reasoning for this? It's making it very hard to shop for a vette. Of course i would rather buy from a one owner and garage kept and babied, never stored outside, etc.... but is that the price i have to pay for this??? I have looked a lot of used dealership vettes and they are pretty frickin hot!
Please explain why 90% of the vettes on this forum are over-priced please.
Thread Starter
7th Gear
Joined: Sep 2007
Posts: 7
Likes: 0
ok
I guess it is all in the eye of the beholder... I am looking to get a C5 as a daily driver and retire my 04 Mustang Gt Vert to the garage for special projects... it's feuding enthusiasts from different worlds trying to cross over haha! I will keep looking the forums over and in Feb when i get back from the desert, If i dont find a nice one with a nice price, ill just have to settle for a dealer vette...
I guess the answer to my question, judging from the responses, would just have to be that it's sentimental enthusiast value... but to a point - people need to be just a bit realistic.
I guess the answer to my question, judging from the responses, would just have to be that it's sentimental enthusiast value... but to a point - people need to be just a bit realistic.
Corvette Stories
The Best of Corvette for Corvette Enthusiasts
10 Reasons the C6 Z06 is Still A Performance Benchmark After 20 Years
Joe Kucinski
How Much Horsepower Every Corvette Engine "LOST" in 1972
Joe Kucinski
Top 10 DOs and DON'Ts for Protecting Your Convertible Top!
Michael S. Palmer
Top 10 Most Explosive Corvettes Ever Made: Power-to-Weight Ratio Ranked!
Joe Kucinski
150 hp to 1,250 hp: Every Corvette Generation Compared by the Specs That Matter
Joe Kucinski
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
Advanced
Joined: May 2007
Posts: 95
Likes: 2
From: Asheville, NC
Being fresh off the buying experience, here's some thoughts.
Yes, some owners are unrealistic. Perhaps they plan on negotiating down or perhaps they just want their number and hope someone will defy all reason and offer it. However, many private sales are made by people who have taken proper, even obsessive, care of their cars and this should be recognized.
Most 'Vettes sitting on dealer's lots are auction cars. If you run a Carfax on them, they've had multiple owners, maybe a repossession, many have been leased. They tend to have been ridden hard and put away wet. What's the sense of saving a couple of grand when you'll be spending at least that much in tires, tuning, repairs, etc?
I bought my car from the original owner and took a bit off the Edmunds private-party book value because she had scuffed the bumper and rockers but otherwise kept up the car nicely. She originally thought she'd get about $5k more than I paid and had been asking about $1.5k more than I offered. I give her credit for negotiating. Heck, I give her credit for trying to hit her number. I wasn't obligated to buy at that number, and didn't.
I don't fault people for asking what they want, I just offer what I'm willing to pay. The true value isn't written in stone for either the buyer or the seller.
Yes, some owners are unrealistic. Perhaps they plan on negotiating down or perhaps they just want their number and hope someone will defy all reason and offer it. However, many private sales are made by people who have taken proper, even obsessive, care of their cars and this should be recognized.
Most 'Vettes sitting on dealer's lots are auction cars. If you run a Carfax on them, they've had multiple owners, maybe a repossession, many have been leased. They tend to have been ridden hard and put away wet. What's the sense of saving a couple of grand when you'll be spending at least that much in tires, tuning, repairs, etc?
I bought my car from the original owner and took a bit off the Edmunds private-party book value because she had scuffed the bumper and rockers but otherwise kept up the car nicely. She originally thought she'd get about $5k more than I paid and had been asking about $1.5k more than I offered. I give her credit for negotiating. Heck, I give her credit for trying to hit her number. I wasn't obligated to buy at that number, and didn't.
I don't fault people for asking what they want, I just offer what I'm willing to pay. The true value isn't written in stone for either the buyer or the seller.
Team Owner
Joined: Feb 2003
Posts: 37,329
Likes: 12
From: Plano Texas
CI 6-7-8-9 Veteran
CI-VI Car Show Winner
St. Jude Donor '07-'08-'09-'10-'11-'12-'13
I think you are still wanting a Vette for $14k (per a post of yours earlier).
In this life you get what you pay for.
Many of the Vettes listed on the Forum are examples of well taken care of Vettes - many with modifications (which you ignored in your post about the cost between stealerships and Forum members Vettes).
Most stealerships have used Vettes that knowledgeable Forum members would hesitate to test drive much less own.
If a few thousand dollars for a better, more reliable Vette from a Forum member is not your cup of tea - go ahead and buy one from a stealership.
But, please don't come back posting that the Vette you bought from them has x & y problems - and that to fix these it is going to cost $$$$.
In this life you get what you pay for.
Many of the Vettes listed on the Forum are examples of well taken care of Vettes - many with modifications (which you ignored in your post about the cost between stealerships and Forum members Vettes).
Most stealerships have used Vettes that knowledgeable Forum members would hesitate to test drive much less own.
If a few thousand dollars for a better, more reliable Vette from a Forum member is not your cup of tea - go ahead and buy one from a stealership.
But, please don't come back posting that the Vette you bought from them has x & y problems - and that to fix these it is going to cost $$$$.
Le Mans Master
Joined: Oct 2004
Posts: 9,369
Likes: 4
From: Zephyrhills, Florida
St. Jude Donor '06-'07-'08-'09-'10-'11-'12-'13
I think you are still wanting a Vette for $14k (per a post of yours earlier).
In this life you get what you pay for.
Many of the Vettes listed on the Forum are examples of well taken care of Vettes - many with modifications (which you ignored in your post about the cost between stealerships and Forum members Vettes).
Most stealerships have used Vettes that knowledgeable Forum members would hesitate to test drive much less own.
If a few thousand dollars for a better, more reliable Vette from a Forum member is not your cup of tea - go ahead and buy one from a stealership.
But, please don't come back posting that the Vette you bought from them has x & y problems - and that to fix these it is going to cost $$$$.
In this life you get what you pay for.
Many of the Vettes listed on the Forum are examples of well taken care of Vettes - many with modifications (which you ignored in your post about the cost between stealerships and Forum members Vettes).
Most stealerships have used Vettes that knowledgeable Forum members would hesitate to test drive much less own.
If a few thousand dollars for a better, more reliable Vette from a Forum member is not your cup of tea - go ahead and buy one from a stealership.
But, please don't come back posting that the Vette you bought from them has x & y problems - and that to fix these it is going to cost $$$$.
Burning Brakes
Joined: Aug 2001
Posts: 820
Likes: 0
From: Newport News VA
It's impossible by definition for 95% of the market to be overpriced. If the entire market is priced at a certain point thats called market value. Plus you can't compare well maintained, modded, garage kept forum cars with the junk you'll find on autotrader. It isn't the same thing.
Team Owner
Joined: May 2006
Posts: 21,473
Likes: 356
From: Palmdale, Ca----- 2009 Cyber Gray 4LT A6 F55 452 RWHP 422 RWTQ- RIP 1998 C5 734 RWHP & 585 RWTQ-----
Dude! I paid $17,000 for my '98 LS1 Vette from here on the forum from a local Member.
I've seen many here on the forum and elsewhere that I'd say are a great price!
Have you tried using www.cars.com or http://autos.yahoo.com/used_cars.html or other equivelent sites to do your search?
Can you give us an example of the over priced cars?
Thanks,Matt
I've seen many here on the forum and elsewhere that I'd say are a great price!
Have you tried using www.cars.com or http://autos.yahoo.com/used_cars.html or other equivelent sites to do your search?
Can you give us an example of the over priced cars?
Thanks,Matt
Thread Starter
7th Gear
Joined: Sep 2007
Posts: 7
Likes: 0
...
everyone knows you dont pay the extra cash for the mods... Maybe a little... but you are taking a risk by putting your 97 vette up for sale for 30k after you sunk 20k into it... the money you put into your car is not what you are going to get out of it... and it seems like here more than any other car forum (for the cars that i own) people add the value of the mods to the blue book for some reason. i dont get it. if you ask me, the more mods that are on the car, the more hesitant i am to buy over a stock so why jack up the price... i guess if it sells... for instance. i just dropped 12k into my stang... blue book is like 15 or 16k... im not going to ask for a penny more with hopes on selling it. and if people start saying that "but this is a CORVETTE though..." oh come on...
I see good deals out there here and there and some fair deals, but was just wondering why i dont see as many as i should. thanks for the owner input. hope to get in one soon.
I see good deals out there here and there and some fair deals, but was just wondering why i dont see as many as i should. thanks for the owner input. hope to get in one soon.
...simple & to the point
Burning Brakes
Joined: Aug 2001
Posts: 820
Likes: 0
From: Newport News VA
everyone knows you dont pay the extra cash for the mods... Maybe a little... but you are taking a risk by putting your 97 vette up for sale for 30k after you sunk 20k into it... the money you put into your car is not what you are going to get out of it... and it seems like here more than any other car forum (for the cars that i own) people add the value of the mods to the blue book for some reason. i dont get it. if you ask me, the more mods that are on the car, the more hesitant i am to buy over a stock so why jack up the price... i guess if it sells... for instance. i just dropped 12k into my stang... blue book is like 15 or 16k... im not going to ask for a penny more with hopes on selling it. and if people start saying that "but this is a CORVETTE though..." oh come on...
I see good deals out there here and there and some fair deals, but was just wondering why i dont see as many as i should. thanks for the owner input. hope to get in one soon.
I see good deals out there here and there and some fair deals, but was just wondering why i dont see as many as i should. thanks for the owner input. hope to get in one soon.
Le Mans Master
Joined: Dec 2005
Posts: 8,564
Likes: 950
From: Communist Colorado
everyone knows you dont pay the extra cash for the mods... Maybe a little... but you are taking a risk by putting your 97 vette up for sale for 30k after you sunk 20k into it... the money you put into your car is not what you are going to get out of it... and it seems like here more than any other car forum (for the cars that i own) people add the value of the mods to the blue book for some reason. i dont get it. if you ask me, the more mods that are on the car, the more hesitant i am to buy over a stock so why jack up the price... i guess if it sells... for instance. i just dropped 12k into my stang... blue book is like 15 or 16k... im not going to ask for a penny more with hopes on selling it. and if people start saying that "but this is a CORVETTE though..." oh come on...
I see good deals out there here and there and some fair deals, but was just wondering why i dont see as many as i should. thanks for the owner input. hope to get in one soon.
I see good deals out there here and there and some fair deals, but was just wondering why i dont see as many as i should. thanks for the owner input. hope to get in one soon.
Why are you hesitant to buy a modded Vette? These cars are enthusiast owned. Youre not looking at a Maxima or Accord. Vette people are **** & actually overboard on the care they put into their cars.
Buying a modded car from a dealership with an unknown history is definately a big gamble, but buying one from a forum member is worth the extra $$ & piece of mind. In addition, I believe most CF members would like to keep in touch with the person they sold thier car to, which will be helpful to the buyer in the future.
Race Director
Joined: Jul 2004
Posts: 16,795
Likes: 62
From: Lake Havasu City, AZ
I bought mine off Auto Trader from an original owner who had fortunately NOT heard about the Forum...I say fortunately because he just called the dealer to see what price they would buy the car from him (no trade in, a cash purchase).. he asked for $500 more to make it worth his while......
At the time sellers on the Forum wanted $5-7K more than I paid.
At the time sellers on the Forum wanted $5-7K more than I paid.