Depends on your economic situation!!! To some folks $2,750 is a lot of money and to some folks it's just a weekend trip or a night out on the town.

 

Some peoples car's are down $20,000+ since buying it new.

The point being made is in what relation to time. Of course $2750 is good money.... But in relation to how long for how many miles of "memories"??? Suppose the owner got his $2750 worth, or did he let it sit? Did he even buy it correctly in the first place? Blah blah.

My '01 Zo6 is one I'll own for life. I'm sure my 3 month old son and I will have lots of memories in it. He'll probably inherit the car someday.... Who cares about $2750?

 

$2,750 lost on a used car over 3 years isn't a big price to pay for the fun of driving it, but it is a lot to lose for not doing pre-purchase homework to find out what the car is worth today. Overpaying might as well be losing $2,750 in one day because if you tried to sell the next day that 2.75K is gone.

 

I hear ya.

I'm buying a house right now. I've lost count how many people are $50-$100k upside down in their house in the Atlanta area!!!! 30% of market is in short sale (not in forclosure, but owes more than it's currently worth-sale needs bank approval) or foreclosure.

I'm buying one right now for $70k less than it was paid for NEW back in 2002. So much for appreciation. It's a good home/area/deal for me though.

Cars are like fast moving real estate. After enough years of payments you might have equity, excluding what was spent on water heaters, transmissions, landscaping, tires, and HOA fees.

Enjoy life, what a ride!

 

It sounds like you got a great deal on a nice house. Congrats! How big is the house and how much is the going rate in atlanta? A buddy was down there a couple years ago and said they were doing a lot of new construction. I've been looking at some houses in Texas that are going for peanuts considering the size of the home. I'm talking about 3,000 square foot brick houses with 3 car garages going for 250K. It is a good time to have savings and not have debt.

 

Exactly-In relation to what time frame. Im sure my new SUV I purchased a few months ago is worth a less than a $2750 depreciation and my C5 well its well down more than $20K in 4 years. So the $2750 in correlation is not a lot. Now want to talk about my Condo that dropped 60K plus in a year?

 

First class?

 

Travelzoo has roundtrip tickets plus 4 nights hotel stay starting at $529. I am sure you could get first class and still have enough money left over to buy a plasma television on top of the vacation.

 

I was pleasantly surprised to see KBB suggests that each of ours is worth more than I thought... so I am glad I checked..... not that I am planning on selling...

 

There are no corvettes in paris. All joking aside, depreciation speaking, $2750 for a car that is commonly found in the same sentence as cars costing significantly more (porsches, vipers, ferraris even, sometimes) is nothing. That IS half a vortech supercharger though

 

Haha! No wonder. Why would you wanna go there anyway? the frogs hate us... LOL

 

Fair price,
I wont be tradeing my Vette In on a c-6! If I wanted a c-6 I would buy one and pay cash for it. Like most cars the c-5 is not a good investment as it losses value at a steady rate. As far as losing value a new one [c-6] really loses value much faster than an older one, mostly in the first 5 years. What I said about spending more for a really nice car will pay off in the long run if you buy the car to drive and enjoy for a few years. Go ahead and buy that so called "bargain Vette" for $10,000 or so and then spend another few thousand for a new tranny,paint,tires, etc...Actually, by buying nice Vettes over the years and keeping them nice I usually get my money back plus the real enjoyment of driving a Corvette! I bought my first Vette at 19 years old and at 62 am still driving a Corvette.
Dave

 

Dave, there is good stuff in your post. I think the nice vettes are falling in price, and the bargin vettes will be very difficult to sell at low prices because good vettes will be priced low.

 

KBB is $31500 for mine and I bought it in July for much less. I'm happy.

 

Good thread so far,

 

Fair price,
Thanks for the comment, I agree that the bottom has dropped in vette prices but a lot of that is the location. Vette prices around here are holding up pretty well but so is home prices etc.. We have taken an economic hit but not nearly as bad as some areas in the country. Some of this is due to the large Military presence here and our proximity to the ocean on the outer banks. Both seem to help keep the economy doing fairly well. I respect your opinions on Vette prices and agree with you on most of what you say. Were all Vette people here so heres a big wave from Dave on the outer banks

 

The value of my C5 is the smile it puts on my face. That makes it a keeper.

 

Yeah, but it's only 15% of $18K which IS nothing given one more year's depreciation and the lousy economy...

My home probably lost 15% of its value in the last 2 years (and that's not nothing!) but I'm thankful it did not do worse!

 

I get a good giggle out of people that invest in things that depreciate.

Chuck if you drive your car more, you may have too much fun to worry about depreciation. It's a car.

-Alex

 

i totally agree with this. also with the c7 due in 2012 we aren't far away from the 5 being two generations old. i've always loved the c5z06 and look at it as buying enjoyment. if i wanted to make money with money this would be the wrong forum :lol

another thing is the blow out deals on C6's and 0% loans. buying a new C6 is actually easier than getting a bank loan from what i gather. when you can get a new 2009 for $39-47k right now {prices from forum mall}, add in 0% and the c5 is not looking so pretty for someone who has to get a loan.