Are we crazy?????
Thread Starter
Melting Slicks
Joined: Mar 2007
Posts: 2,059
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From: Murrells Inlet SC
Are we crazy?????
I want a new ZO6, who doesn't; but when I found out what my 'O4 convert was worth with 7K miles, it made me stop and think. I have wasted a lot of money on this car and another new one would be like throwing good money after bad. If GM doesn't think so much of their used vehicles, why should we. The dealers want $42K plus to trade......thats another car or boat in most markets. At least I would have another tangible asset to sink money into. I know we justify these toys for the entertainment, but I don't believe I can have that much fun.
Former Vendor
Joined: Sep 2005
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From: Hazel Green, Wi www.doubledmods.com
St. Jude Donor '12-'13
Just keep your great looking car, spend about 8,000 in a nice blower setup and you will have the power of the Z06, but the awesome looks of the C5,and then go buy a boat
Safety Car
Joined: May 2006
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From: Northern Virginia
St. Jude Donor '08
Melting Slicks
Joined: Jul 2006
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From: The 7th layer of hell - Western Washington
Race Director
Joined: Dec 2005
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From: Wellsboro Pa
It's not GM that lowers the trade in value of your car. It is the dealer that wants to make a big profit when they sell your trade in to another customer. The rule is to take it in cheap and sell it for full book value. You would be better off to sell it privately and buy the new one outright with a discount.
Race Director
Joined: Nov 2004
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From: Central Ma
What you are saying only proves that we should drive more. And this is from someone with low miles also, 13k on my 04.
It's a lot of money, but these cars depreciate less than most.
I hope to be driving mine a little more in the future, but it will always stay on the low side.
This one I bought new, the next one??
It's a lot of money, but these cars depreciate less than most.
I hope to be driving mine a little more in the future, but it will always stay on the low side.
This one I bought new, the next one??
Administrator
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From: Bel Air (by way of Fort Worth, TX) Maryland
St. Jude Donor '12 thru '21
It's not GM that lowers the trade in value of your car. It is the dealer that wants to make a big profit when they sell your trade in to another customer. The rule is to take it in cheap and sell it for full book value. You would be better off to sell it privately and buy the new one outright with a discount.
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Team Owner
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From: Kerrville, Texas USA Hook 'em Horns!
CentralTX Events Coordinator
St. Jude Donor '03-'04-'05-'06-'07-'08-'09-'10-'11-'12-'13-'14-'15-'16-'17
Racer
Joined: Jun 2004
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From: Bethlehem PA
St. Jude Donor '08
It's not so much the dealers, the market sets the price. On a new $79,000.00 Z06......getting $37,000.00 trade-in ($42,000.00 out) really means they're allowing you $32,000.00 real value and $5,000.00 in discount or over allowance. Unfortunately, I'm in the same boat.....an '04 with 4K miles that has already depreciated $20,000.00. I'm keeping what I have and like posted above, if I want to go faster, buy a blower.
Burning Brakes
Joined: Mar 2000
Posts: 799
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From: Rio Rancho NM
There is not enough difference between the c5 and c6 to justify the expense...... For about 20% of the cost of a new zo6 with trade, you can have a vette that handles as good if not better, with more power. Personally, I am waiting for the c7, my car is hands up nicer that the c6,IMHO, and I still get lots of folks that love the way it looks!
Team Owner
Joined: Mar 2004
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From: Oklahoma City OK
C6 of Year Finalist (appearance mods) 2019
Unless you're buying and selling collectable cars you're not going to have a car that really holds it's value. They all depreciate pretty badly.
Life Time NCM #2196
Joined: Sep 2004
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From: Converse TX
Cars are bad investments, but Vettes are fun to drive, I faced the same dilema 3 years ago when I wanted a new Vette, the stealership would not give me a decent value on my old 99 with 30k on the clock so I decided on Heart Surgery for my Vette and plus a blower
Administrator
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From: Bel Air (by way of Fort Worth, TX) Maryland
St. Jude Donor '12 thru '21
Melting Slicks
Joined: Jan 2007
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From: Conejo Valley CA
Well the way I look at it, going into the C5, you have to have the mindset that it is a money pit. C5s were mass produced so they don't hold their value well, GM changes body style with each generation (which doesn't help the car hold its value until years down the road), they have their share of common defects (leaky differentials, defective gas tank sending units, horrific grounding, door control modules with door lock relays that go bad, ect...), and the inherent desire by many owners to mod them.
Don't get me wrong fellas, I absolutely love this car.... I liken it to the "Pamela Anderson" of American cars. My point is unless you keep it for the long haul, I wouldn't expect much out it from a financial standpoint, especially in the short term.
The C5 body style is awesome. My plan is to keep this car for the long term. I'm mod'ing it to my personal tastes. That's how I'm getting my moneys-worth out of it.
Don't get me wrong fellas, I absolutely love this car.... I liken it to the "Pamela Anderson" of American cars. My point is unless you keep it for the long haul, I wouldn't expect much out it from a financial standpoint, especially in the short term.
The C5 body style is awesome. My plan is to keep this car for the long term. I'm mod'ing it to my personal tastes. That's how I'm getting my moneys-worth out of it.
Race Director
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From: Wesley Chapel, FL Las Vegas, NV
Burning Brakes
Joined: Jun 2005
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From: South of Indy
St. Jude Donor '07-'08
Dealers?????
Trading any vehicle into a new car dealership or really any dealership for that matter is going to cost you. You almost certainly will get more money out of your used car from an individual than you will from a dealer. I'm talking real money, not the, well my vehicle lists for XXXX, so I will allow you KBB value off of XXXX list price. You know you can buy their vehicle for less than XXXX outright, so they are making extra money when they do that. Good luck what ever you decide to do.
Race Director
Joined: Jul 2007
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From: 972 and 405
It's not GM that lowers the trade in value of your car. It is the dealer that wants to make a big profit when they sell your trade in to another customer. The rule is to take it in cheap and sell it for full book value. You would be better off to sell it privately and buy the new one outright with a discount.
And true.
Race Director
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From: Reno is so close to Hell you can see Sparks , State Of Confusion
St. Jude Donor '12-'13-'14
The new ZO6s are a really nice machine, You could put 15,000 into your C5 and it still won't be close to a new ZO6, If you can find it, There was a program on tv a few months ago from the ZO6 plant and shows how they are built, If I had the money I would have a new ZO6 in my driveway for sure, I think the dash on the new C6 are a bit cheesy but the car is a great piece of work.
I like the C5 a lot, But over you years GM really made the ZO6 a fine maching, Ride, Power and when lowered they look nice.
jmo
I like the C5 a lot, But over you years GM really made the ZO6 a fine maching, Ride, Power and when lowered they look nice.
jmo
Last edited by Mr.Bill; Jan 26, 2008 at 10:25 PM.