I don't give a **** how bad the economy gets. Keep the values up! You're off your rocker...
C5 prices need to drop
Drifting
Joined: Nov 2007
Posts: 1,616
Likes: 11
From: Newport, RI
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Burning Brakes
Joined: Mar 2005
Posts: 766
Likes: 0
From: Mooresville NC
I think prices have already come down a lot!
I just got my 63k mile MN6 97 with light rod knock for $10k. That's a lot of car for the money.
Before that I was browsing for C5 Z's and for the most part, felt the prices were pretty fair. They're a lot lower than they used to be. I sold my last C5 like 2 years ago, a 1998 w/ 80k for $19k, seems like prices were a lot higher back then!!
I just got my 63k mile MN6 97 with light rod knock for $10k. That's a lot of car for the money.
Before that I was browsing for C5 Z's and for the most part, felt the prices were pretty fair. They're a lot lower than they used to be. I sold my last C5 like 2 years ago, a 1998 w/ 80k for $19k, seems like prices were a lot higher back then!!
Drifting
Joined: Apr 2006
Posts: 1,300
Likes: 1
From: Clear Lake Tx
St. Jude Donor '11
I think the prices have dropped......one of the reason i sold my c5 was because i saw a major drop comming soon. I loved my car and feel i sold it for a fair price 6 months or so ago, but i dont think i could have gotten close to what i got for it now
Le Mans Master
Joined: Jun 2007
Posts: 6,301
Likes: 6
From: LAND OF OZ Kansas
Tech Contributor
Joined: Oct 1999
Posts: 41,058
Likes: 9,821
From: Charlotte, NC (formerly Endicott, NY)
The problem with super low mile cars is they haven't yet had the common failures all the other cars had fixed under warranty. Paying a premium for them is a big mistake. It is like buying a brand new car without a warranty. If GM offered that option on a new car how many people would buy them unless there was a substantial price reduction?
Bill
Racer
Joined: Nov 2007
Posts: 257
Likes: 0
Actually, you'd be surprised how well vettes are selling when compared to other V-8 vehicles. Especially since GM at the employee discount going for a while, they were selling C6's like candy. A few chevy dealerships around where I live said on average, they sold more corvettes than any other chevrolet. Hard to believe, but its true.
If you search online, you can find C5's for fairly good prices. After all, how much do YOU EXPECT the price(s) to drop? dont forget that Corvette will always retain its value to a certain degree. Wether the economy is good or bad, the corvette will stand the test of time.
If you search online, you can find C5's for fairly good prices. After all, how much do YOU EXPECT the price(s) to drop? dont forget that Corvette will always retain its value to a certain degree. Wether the economy is good or bad, the corvette will stand the test of time.
Safety Car
Joined: Sep 2004
Posts: 4,824
Likes: 0
From: Port Orange Florida
You're just trying to argue.
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Melting Slicks
Joined: Oct 2006
Posts: 2,652
Likes: 629
From: Rural North West NV
This statement kind of holds true for anything these days, houses, bikes, boats, pretty much anything that's not a neccessity. If it's cheap it will sell, if not, it will take longer.
Safety Car
Joined: Sep 2004
Posts: 4,824
Likes: 0
From: Port Orange Florida
Correct.Right now it is a trade value to trade value game.
I think what the OP is trying to say is this:A lot of these vette sellers are trying to pull clean retail out of their car...some are trying for high retail.
If any accomplish that they broke the rule of average for sure.I'd love to stick my little BMW online and try to get clean retail($13.8)...ya right.I'll be lucky to see $9k out of it.Difference is I am being realistic about the market.It has little to do with the value of the vehicle.
I'm also looking at Escalades to buy.Only thing worse than the beating I will take is the beating those guys are taking.Even worse than that...look at the poor guys with diesel Excursions.I'd slit my throat if bought a 05 a couple years ago.
Race Director
Joined: Sep 2006
Posts: 11,206
Likes: 1,139
From: Santa Rosa Beach FL
Race Director
Joined: Feb 2008
Posts: 17,336
Likes: 8
From: Maker of Sharp Objects, AL - Roll Tide
St. Jude Donor '10-'11-'12-'13-'14-'15-'16-'17
St. Jude Knife Maker
<------I paid 19,900 for my C5 coupe and the reason I didn't get a Z06 is because I couldn't find one around me for under 28K. I started looking in March of this year, and that is when I purchased. My local dealer had an '04 Z with 28K on the clock and they wanted 35K for it. I got them down to 31K, but that was the best I could do. I looked at about 4 others, but no one would go under 28K.
I wish now that I had discovered this forum and been alot more active here before I purchased. My car was in pretty good shape, but the seats are kind of worn. It had 70K on the clock, now it has 81K. You think I could get 19,900 for it if I tried to sell it today??? Ha, I doubt it. Not when others that are in as good of shape as mine are going at around 15-17K...
I was kind of p*ssed when I asked the guy what he had in the car (after we had signed the paperwork at the bank) and he said 11K. In other words I was the sucker, and I paid him about 9K in profit.
If I would have been active on this forum first, I could have bought a Z06 that had some Mods for at or a little above what I Paid.
I wish now that I had discovered this forum and been alot more active here before I purchased. My car was in pretty good shape, but the seats are kind of worn. It had 70K on the clock, now it has 81K. You think I could get 19,900 for it if I tried to sell it today??? Ha, I doubt it. Not when others that are in as good of shape as mine are going at around 15-17K...
I was kind of p*ssed when I asked the guy what he had in the car (after we had signed the paperwork at the bank) and he said 11K. In other words I was the sucker, and I paid him about 9K in profit.
If I would have been active on this forum first, I could have bought a Z06 that had some Mods for at or a little above what I Paid.
Racer
Joined: Dec 2002
Posts: 299
Likes: 0
From: Ambler PA
Undertand market dynamics
Suggesting that C5 prices should fall is, in my opinion, an oversimplification of more complex market dynamics.
A Corvette tends to sell not only based on its blue book value, but also on the intrinsic value of what may be a special car because of the work that has been done to it. No other group of car owners can claim to have such divergent prices on what some may say is the same car. Unlike most other car owners, many Corvette owners put their own touch on their car, some more tastefully than others, and this differenciation can yield higher than expected prices; as some buyers are willing to pay more for a special car, not just a Corvette.
Buyers are often not willing to accept that Corvettes of the same generation or year for that matter may have vastly diffferent prices. And sellers, like me, who have invested more than seems reasonable have to get over it and price the cars fairly, not the same. The reality is that over time, they all sell and then we go do it all over again.
A Corvette tends to sell not only based on its blue book value, but also on the intrinsic value of what may be a special car because of the work that has been done to it. No other group of car owners can claim to have such divergent prices on what some may say is the same car. Unlike most other car owners, many Corvette owners put their own touch on their car, some more tastefully than others, and this differenciation can yield higher than expected prices; as some buyers are willing to pay more for a special car, not just a Corvette.
Buyers are often not willing to accept that Corvettes of the same generation or year for that matter may have vastly diffferent prices. And sellers, like me, who have invested more than seems reasonable have to get over it and price the cars fairly, not the same. The reality is that over time, they all sell and then we go do it all over again.
Drifting
Joined: Jun 2007
Posts: 1,298
Likes: 0
From: Chicago IL
Anybody with a Z06 thats an 03 or less and 20k and up in miles and asking 30k and up needs a reality check. I love the C5's. Matter of fact I had a C5 traded it for a C6 realized that was the biggest mistake and now thank god I got rid of my C6 I am actively looking for a C5Z. I think in the dead of winter I can find an 02 Z with less than 20k miles and some mods for 23k.
Team Owner
Joined: Oct 2006
Posts: 65,010
Likes: 133
From: Title town, Champs live here.
St. Jude Donor '09-'10-'11-'12-'13-'14-'15-'16-'17-'18-'19
Anybody with a Z06 thats an 03 or less and 20k and up in miles and asking 30k and up needs a reality check. I love the C5's. Matter of fact I had a C5 traded it for a C6 realized that was the biggest mistake and now thank god I got rid of my C6 I am actively looking for a C5Z. I think in the dead of winter I can find an 02 Z with less than 20k miles and some mods for 23k.
Instructor
Joined: Dec 2007
Posts: 125
Likes: 0
From: Oregon
Anybody with a Z06 thats an 03 or less and 20k and up in miles and asking 30k and up needs a reality check. I love the C5's. Matter of fact I had a C5 traded it for a C6 realized that was the biggest mistake and now thank god I got rid of my C6 I am actively looking for a C5Z. I think in the dead of winter I can find an 02 Z with less than 20k miles and some mods for 23k.
Melting Slicks
Joined: Nov 2007
Posts: 3,086
Likes: 0
From: Rockledge Florida
St. Jude Donor '08-'09-'10
National Champs Gators 4 St. Jude '09
I have been looking around to buy a C5 and I think many asking prices are just laughably crazy. Maybe because C5 sellers usually keep these cars garaged, they think they can ask more money? I dunno what the reasoning is, but it ain't gonna make me a buyer until I see one at very fair price.
No problem for me though. I definitely don't NEED one of these things, lol.................
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No problem for me though. I definitely don't NEED one of these things, lol.................
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Instructor
Joined: Aug 2008
Posts: 147
Likes: 1
From: Nazareth PA
are you in the market for one??I've been looking for the last 2 months on here(and other places), sure there are some that have no clue but there have been some good prices just need to wait it out.
Almost being in the market for one the way I look at it is a fair price for reg C5's, depending on year,condition,options and extras
< 20k mi = 22-26k
< 40k mi = 20-25k
> 40k mi = 16-20k
> 80k mi = 12-16k
If they are priced too high obviously they don't need to sell or will only sell for the high price
If priced right they will get a few lower offers and will sell around the asking price