Marcs c5

bucwheat

You are not buying for an investment,get the car and enjoy,I have never in my 57 years have enjoyed a car as much as my vette.And I have owned a lot of hot cars.

e6bailey

CC Rider

Here's a few questions to ask yourself: Do you want a Corvette, or an investment? If you are so concerned about market value, you need to invest your money elsewhere, like a CD, if you want a return on investment. All cars lose value, it's the nature of the business. I am positive I have lost money since I bought my 2004 A4 in 2006, but when I detail it and take it for a drive on a pretty day, I know why I bought it, and it wasn't worrying about depreciation!

MSG C5

What I find so funny is that this is all relative. Many people in my neighborhood think that my depreciated 2004 Corvette convertible is a luxery item during these hard times. However, these same people are driving around in a $65K SUV or import.

thisMSGgood4me

Dayumn karate, what was I tryin to tell you from the get go?

karateboi87

Except you were pointing out many other irrelevant things.. whereas for example a person explained that his daughter works for a major dealership in Texas and actually explained the current values and projected values... instead of the "don't believe anyone". I was looking for an explanation with valid reasoning... But that's all done now. Thanks for everyone's comments.

larrybee

I paid 28,000 for my 02 red vert a year ago - it only had 8,500 k on her - and looked and ran like right off the truck - perfect condition and i knew the owner and how it was broken in. Bottom line - like the other comments, are YOU looking for a nice ride for years to come, or going to sell or trade in a couple of years?? I know my car is going down in valve dollar wise day by day - but day by day- its one of the best things I purchased in my life - especially on a sunny day w/club friends on a road trip or just crusin around town with the wifie. PS - she says the same thing!!

thisMSGgood4me

What "many other irrelevant things" are you referring to? Wasn't my main point to you that no one can possibly know what the value of C5s are going to be 12 months from now? Isn't that what you've finally learned from all the people here telling you that? Geez karate, why can't you accept that what I told you was valid and quit nitpicking with me about it?

03whitecoupe

In retrospect, I overpaid for my 99 when I bought it 2 years ago but I did not buy it with resale value being a factor. About the only Corvettes that appreciate in values are C1s and especially C2s. If you are concerned about the car's value a few years down the road then don't buy it. The C5s will continue to depreciate for the next several years just like 99.9% of all vehicles out there. Just watch Barrett Jackson this year as I expect the economy will put alot of downward pressure on classic car values. Enjoy the car for what it is not what you can expect to get out of your "investment".

TUF-NUF

I'm 61, and I've been driving hard for 46 years. and Dave

karateboi87

I don't disagree what you said is right. However, there is a difference between assuming/guessing than knowing with knowledge.

The example I pointed out about the gentleman's knowledge in the auto sales industry is what I was looking for. I wanted experiences related to the subject and evidence to back up the claim.

Everyone can speak their opinions, and sometimes they are right, sometimes they're not.

Forecasting is not always right, but often times it is. I'm an economics and business major, and when I took macro-economics a year ago, many of us didn't predict that we'll hit a deep recession.

But for us, we try to use data and evidences to try to come up with answers. Common sense often leads you to the wrong answer. That's my point.

Saying "it's just their opinion" with nothing to disprove it does not give me a satisfactory result. This is just "your opinion" as well. I'm not trying to disrespect you, I appreciate all comments and inputs. It's just that I can't accept an answer like that.

thisMSGgood4me

I know you're not trying to disrespect me, nor I you, but I've been around the block so many times I've lost count. You're very young in comparison (both my kids are older than you) and haven't really experienced the real world all that long like I have. And when I tell you that NO ONE can predict the future, being it what C5s or oil will be worth a year from now, believe me when I tell you that (it may be my opinion but it's also a fact). I know what I'm talking about from many, many years (decades really) of experience. I got a business degree at least a decade before you were born, so I know a thing or two about business forecasting, mainly that it's very unpredictable/unreliable, as all forecasting is, even worse than weather forecasting, which itself isn't very good much of the time. You may think you know a lot but believe me you've still got way more to learn. Good luck with your search and as others have already said, if you're too worried about losing so much value after buying one, then maybe a C5 just isn't for you. I think most C5 owners don't fret that kind of thing, we just enjoy owning and driving a tremendously fun car and don't sweat over what they're going to be worth down the line.

ifly2

I'm not slamming the op but I never considered resale price on my C5. I paid 23 on the road and the previous owner was meticulous with maintenance. This is the best car I've ever owned. We do all our roadtrips in the vette and not only is it really comfortable it'll get 30mpg on the interstate. Still I look at my 8 yr old (with jaded eyes) and it looks like a new car regardless of the value.

karateboi87

I know I'm young and I certainly try not to be arrogant and think I know a lot.

I'm sure you have a lot of experiences which would've been great if you just shared them from start!

I'm not too worried about resale value. It's not the same if you lose 40% of a 5 year old car when it becomes 6 years old. (of course now that I know those forecasts are very unreliable, it doesn't matter). I'm still continuing my vette hunt.

Thanks for the replies. I appreciate all honest opinions.

lionelhutz

It's probably a projection based on the deflation of these cars in the past few months, which has mostly been caused by a combination of the downturn of the economy and the cheap C6's that are available. Right now, a ton of broke owners are trying to dump them.

GM is also dumping new C6's for like 2x what C5's had been selling for ($25k range). I'm sure some people still with money are using the cash they were going to buy a C5 with as the down payment for a C6 instead and others are just buying a C6 because they are such a great deal right now.

Also, think about this - there were a lot of people predicting oil would be at $200 a barrel by spring. Predictions are often wrong and also often have some form of self serving motive behind them.

Peter

Drav1212

Listen,

People do not buy corvettes for investments. Well, antique are diferent. People buy Corvettes to drive a corvette.


If you want to look at and retaining value. Instead of buying a corvette buy some gold.

jpl99vert

Just a thought- Get on Craigslist (it's free) and advertise that you have x-amount of dollars for a Corvette. See what kind of response that you get.

Rapid Fred

Now we're talking! Let's get this boi driving instead of posting!!!!!

karateboi87

But that's the worst way of purchasing. Why do dealers always ask you "what is your limit"? It's because they can rip you off. If you say you have $10K, they'll sell you something that's worth $8K instead of something that's worth $10K. I have searched local craglist already. It's a difficult site for searching because it's like ALL text. It's not listed like auto traders where it's more user friendly (But I understand cragilist is supposed better).

I have no problem with my vette hunting process. I didn't post it online because I didn't think anyone would care but I've found plenty of options. My only problem is sometimes cars are far away and I can't always just fly out or drive out just to take a look.. My work schedule doesn't allow that to happen. In fact, I'd have to make arrangements ahead of time before I buy.

Thanks for the idea though. I appreciate any help.