C5 prices need to drop
Instructor
Joined: Mar 2008
Posts: 218
Likes: 1
Condition, Mileage, and Abuse Factor..... All play into what someone is willing to pay. Lots of well used cars out there for the low money. Also, supply and demand.... More cars on the block because many can't afford to keep them.
Racer
Joined: Mar 2007
Posts: 316
Likes: 0
From: Pace/ Pensacola FL
I just paid 25k for my 03 coupe A4 with 40k miles. I know the stealership made money off me but I'm very happy with it. Perfect condition. I'll keep it till I wreck it or give it to my daughter when she gets old enough. 
Drifting
Joined: Jan 2005
Posts: 1,496
Likes: 28
From: San Dimas Ca.
Drifting
Joined: May 2007
Posts: 1,515
Likes: 14
From: Gig Harbor WA
As a buyer I agree, prices need to come down in order to move the car. So either price it right or keep it and enjoy it but why waste everyones time and forum bandwidth asking what the car was worth prior to GM screwing owners by offering a 2008 coupe for $40k.
GM reset the entire used value market. The way I see it, sellers have 3 options:
1. Sell it now for what's it worth. (probably less than what most think but look at cars that have sold, not asking price)
2. Keep it, enjoy it, have fun with it.
3. Sell it next year for a lower price yet.
Also, I think the C5s in the teens are good buys, but the first post may have meant '03/04's priced at C6 levels. i.e. C6 forum has an 07 coupe for $34K! ....and 05/06s $28K-35, coupes, not Z06.
GM reset the entire used value market. The way I see it, sellers have 3 options:
1. Sell it now for what's it worth. (probably less than what most think but look at cars that have sold, not asking price)
2. Keep it, enjoy it, have fun with it.
3. Sell it next year for a lower price yet.
Also, I think the C5s in the teens are good buys, but the first post may have meant '03/04's priced at C6 levels. i.e. C6 forum has an 07 coupe for $34K! ....and 05/06s $28K-35, coupes, not Z06.
Check craigslist.com for Seattle, and you'll find 2005 C6s below $30K -- there's one now for $28,600 with 23 K miles, Atomic Orange, etc.
Thread Starter
Safety Car
Joined: Feb 2004
Posts: 4,114
Likes: 3
From: The Hood
This may be a nice vette but not worth 18K when you can get C6'sfor high 20's
http://forums.corvetteforum.com/show....php?t=2129869
http://forums.corvetteforum.com/show....php?t=2129869
Thread Starter
Safety Car
Joined: Feb 2004
Posts: 4,114
Likes: 3
From: The Hood
Drifting
Joined: Jan 2008
Posts: 1,250
Likes: 0
From: Michigan
Maybe in florida sure as hell not in michigan
Team Owner
Joined: Jul 2006
Posts: 22,190
Likes: 4,178
From: Kannapolis NC
For the rest of you, wise up and stop talking down the prices of your cars. The reason so many think the economy is bad is that you've been told it was. Most of you are better off than you were 5 years ago, if you would admit it. If you say a 2001 Vette is worth $10,000 often enough, buyers start to believe it, too.
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Burning Brakes
Joined: Sep 2007
Posts: 832
Likes: 0
From: PSL FL
I am with you. I love my Vette and glad I have it.
In the end, a car is a car, and for a lot of us we have had more then our share of cars. If we choose to sell ours and ask more then some people are willing to pay, don't be a hater. Haters are usually the punks and the cheap SOB's that complain about the prices being to high and not worth it etc, until they get their own, and then, my GOD this thing is the best around.
A car purchase is worth only what I am willing to pay and I am happy with mine as you will be with yours, but in the end, it is just a car.
I am only 36 and have owned somewhere in the neighborhood of 150+ cars since I was 16, now play nice everyone.
In the end, a car is a car, and for a lot of us we have had more then our share of cars. If we choose to sell ours and ask more then some people are willing to pay, don't be a hater. Haters are usually the punks and the cheap SOB's that complain about the prices being to high and not worth it etc, until they get their own, and then, my GOD this thing is the best around.
A car purchase is worth only what I am willing to pay and I am happy with mine as you will be with yours, but in the end, it is just a car.
I am only 36 and have owned somewhere in the neighborhood of 150+ cars since I was 16, now play nice everyone.
Drifting
Joined: Nov 2007
Posts: 1,616
Likes: 11
From: Newport, RI
I am not hearing any "hater" talk here, so there's no need to go down that path.
In my experience (20 years beyond yours, I am sad to say, lol), most buyers are looking to buy for the lowest possible price and most sellers are looking to sell for the highest possible price. There is nothing wrong with either of those positions. This is capitalism at its' finest.
What is surprising to me is that many Vette sellers seem to think their well-used Vette is more than just a used car. I can buy into the theory if the car is super-low mileage and used only on weekends or nice days, but when a car has 15,000 miles per year on it, then it is a daily-driver used car, and should be priced squarely in line with KBB valuation or similar.
Just my $.02, of course. Not venting, ranting or hating.
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Team Owner
Joined: Sep 2002
Posts: 30,607
Likes: 4,619
From: Bonita Springs, Florida
What is wrong with you people? Why do you insist on devaluing this vehicle? This irritates me about the same as the people selling houses for well below market value or those taken into foreclosure which hurts the prices of all the other homes in the area. That makes no logical sense. Just because one is in bad shape doesn't make all the others less valuable. And because some vehicles have more mileage or wear and tear, that doesn't affect those that are not in that condition.
If you are having an issue selling your vehicle it could be a number of reason, but certain not because the others around are holding the value up on the vehicle. Maybe its the color, or the model, or mileage or maybe you have a bunch of mods that no one wants to touch. Could be the geographical location.
I watched posts by C4 owners do the same thing. It is just idiotic, you want a low low price when you buy them and then a high price when you sell or complain about how little they offered you on trade or sale and are all offended. Well yeah when this type of stuff occurs people start thinking oh the price is too high. These are not an every day car that every day people buy.
If you are having an issue selling your vehicle it could be a number of reason, but certain not because the others around are holding the value up on the vehicle. Maybe its the color, or the model, or mileage or maybe you have a bunch of mods that no one wants to touch. Could be the geographical location.
I watched posts by C4 owners do the same thing. It is just idiotic, you want a low low price when you buy them and then a high price when you sell or complain about how little they offered you on trade or sale and are all offended. Well yeah when this type of stuff occurs people start thinking oh the price is too high. These are not an every day car that every day people buy.
If you want to buy my Corvette and if I were selling it today, the price would be $28,000. Firm includes a transferrable GMPP which has one more extension available. If you can't afford it, there are no-name dealers and off brand dealers around that have picked an odd ball up in trade or off the auction that will be happy to serve you. Thanks for your call.
You can look all day long, and find all kinds of deals. My price is my price and particularly in my case that is what its value is, regardless of these wild deals someone might find.
You can look all day long, and find all kinds of deals. My price is my price and particularly in my case that is what its value is, regardless of these wild deals someone might find.
I am not hearing any "hater" talk here, so there's no need to go down that path.
In my experience (20 years beyond yours, I am sad to say, lol), most buyers are looking to buy for the lowest possible price and most sellers are looking to sell for the highest possible price. There is nothing wrong with either of those positions. This is capitalism at its' finest.
I can buy into the theory if the car is super-low mileage and used only on weekends or nice days, but when a car has 15,000 miles per year on it, then it is a daily-driver used car, and should be priced squarely in line with KBB valuation or similar.
Just my $.02, of course. Not venting, ranting or hating.
-
In my experience (20 years beyond yours, I am sad to say, lol), most buyers are looking to buy for the lowest possible price and most sellers are looking to sell for the highest possible price. There is nothing wrong with either of those positions. This is capitalism at its' finest.
I can buy into the theory if the car is super-low mileage and used only on weekends or nice days, but when a car has 15,000 miles per year on it, then it is a daily-driver used car, and should be priced squarely in line with KBB valuation or similar.
Just my $.02, of course. Not venting, ranting or hating.
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You get what you pay for. Cars should be priced according to their condition, mileage and options. You cannot compare a 5K mile show car to a 120K mile DD or to a 40K mile drag/track car or to an 80K car with a title showing accident(s) or to a salvage title car. Cheap cars are cheap for a good reason. Just because a daily driven high mileage base option C5 needing $6K in paint, clutch, brakes, tires, rims, interior work etc is priced at $16K doesn't mean that a flawless show quality low mileage fully loaded C5 should be priced that low.
Drifting
Joined: Jun 2007
Posts: 1,298
Likes: 0
From: Chicago IL
You're full of crap on so many levels I won't even go into it. If you want a car you can afford, buy a used Kia, or 10 year old Taurus. There are some good deals out there on those types.
For the rest of you, wise up and stop talking down the prices of your cars. The reason so many think the economy is bad is that you've been told it was. Most of you are better off than you were 5 years ago, if you would admit it. If you say a 2001 Vette is worth $10,000 often enough, buyers start to believe it, too.
For the rest of you, wise up and stop talking down the prices of your cars. The reason so many think the economy is bad is that you've been told it was. Most of you are better off than you were 5 years ago, if you would admit it. If you say a 2001 Vette is worth $10,000 often enough, buyers start to believe it, too.
Why do you have the idea because we think people are asking too much for their corvettes we cannot afford one? It has nothing to do with affordability. Go buy a new Vette at 2k under invoice or go buy a used one with very very low miles for 6k less. Most would buy the used one to SAVE THEM MONEY. Not because they can't afford the new one.
Last edited by Mariamznm; Sep 11, 2008 at 01:53 PM.
Drifting
Joined: Jan 2003
Posts: 1,364
Likes: 34
From: Warren Michigan
East MI Events Coordinator
Are you looking to buy another C 5? Or are you upset you think you paid to much and cannot recoup your money. Value on anything is determined by the mutual understanding between the seller and buyer. Nothing more, nothing less. Some people think of us that live up north are crazy to own a car we can only drive half a year. Do you drive yours all year? Do I put a better value on a well taken care of car? Yes. This applies to all cars that I bought that were not new. The advice I give people looking to buy is to have the money ready to spend because if you find a great deal BUY IT it won't last.
Le Mans Master
Joined: Feb 2006
Posts: 5,488
Likes: 4
From: USA
These cars have a bulletproof engine and no rust issues anywhere, but have to compete with the past reputation that a GM car that doesn't last past a 100k
I think any car that can look as good as the C5 and last 200+k, should not be dropping in in value.
I think any car that can look as good as the C5 and last 200+k, should not be dropping in in value.
Instructor
Joined: Aug 2008
Posts: 108
Likes: 0
From: MN
We are at that time of the year when the larger price drops occur with the 2009s coming out and winter coming soon up here in the North.
Over on the C6 forum right now you can buy a brand new 2009 base for $41K.
So here's my guess/estimate for base models/normal miles:
2009 - $41k
2008 - $34-38
2007 - $32-36
2006 - $29-34
2005 - $27-32
2004 - $23-27
2003 - $20-24
2002 - $18-22
2001 - $17-19
If people disagree with the numbers above please comment with your reason and keep in mind buyers try to get the newest/lowest mileage vette. Also, mileage and condition impact prices on corvettes greatly more than chevettes which my estimates above don't factor.
Over on the C6 forum right now you can buy a brand new 2009 base for $41K.
So here's my guess/estimate for base models/normal miles:
2009 - $41k
2008 - $34-38
2007 - $32-36
2006 - $29-34
2005 - $27-32
2004 - $23-27
2003 - $20-24
2002 - $18-22
2001 - $17-19
If people disagree with the numbers above please comment with your reason and keep in mind buyers try to get the newest/lowest mileage vette. Also, mileage and condition impact prices on corvettes greatly more than chevettes which my estimates above don't factor.
Race Director
Joined: Aug 2003
Posts: 13,421
Likes: 8
From: Lake Mary Florida
You should mention that '09 number is for:
Employee Discount for Everyone
2008 Chevrolet Corvette Coupe 1LT
$46950 Base MSRP
$40877 Employee MSRP
$40877 Your Price After Applicable Offers
You will not pay $41K for for a optioned model nor a convertible. Not even mentioning a Z06.
The rest of your numbers, exactly what metrics did you use to create this?
Employee Discount for Everyone
2008 Chevrolet Corvette Coupe 1LT
$46950 Base MSRP
$40877 Employee MSRP
$40877 Your Price After Applicable Offers
You will not pay $41K for for a optioned model nor a convertible. Not even mentioning a Z06.
The rest of your numbers, exactly what metrics did you use to create this?
Le Mans Master
Joined: Jan 2008
Posts: 7,155
Likes: 44
From: If you wanna live life on your own terms, you gotta be willing to crash and burn Florida
Drifting
Joined: Oct 2006
Posts: 1,947
Likes: 8
From: Redwood City CA
Damn! Those are some rock-bottom trade-in prices
Instructor
Joined: Aug 2008
Posts: 108
Likes: 0
From: MN
Reply to Jet-Jock
Here's the 2009 I saw:
http://forums.corvetteforum.com/show....php?t=2130258
The numbers I posted (asking where I got them from) was just my opinion depreciating each year like everything else in the world you buy. I think my depreciating scale is pretty close, I assume you don't and that's okay.
Enjoy your vette.
Here's the 2009 I saw:
http://forums.corvetteforum.com/show....php?t=2130258
The numbers I posted (asking where I got them from) was just my opinion depreciating each year like everything else in the world you buy. I think my depreciating scale is pretty close, I assume you don't and that's okay.
Enjoy your vette.
Team Owner
Joined: Jul 2006
Posts: 22,190
Likes: 4,178
From: Kannapolis NC
Why do you have the idea because we think people are asking too much for their corvettes we cannot afford one? It has nothing to do with affordability. Go buy a new Vette at 2k under invoice or go buy a used one with very very low miles for 6k less. Most would buy the used one to SAVE THEM MONEY. Not because they can't afford the new one.