wow i just check ny vert and seen what its worth , wow i lost $2750, in value, check yours and do tell, if you lost and how much, even though the value has dropped shes still will never be sold anyways

 

come on people we dont bite

 

Last year this time it would be difficult to find a good 97 or 98 C5 for less than 16-17K, now there are tons of them for 11-12K asking price and I wonder what the seller is actually accepting? Are these 12K asking price Corvettes selling for 10k or less? And what is worst for owners is the prices continue to fall.

My guess is that banks just are not giving out loans to people like they did in 2007 so people who want these cars and do not have the savings can not get approved. People who have savings are worried about their jobs and the economy and do not want to spend money on what is a second car that can only be driven 6 months a year if you want to keep it garaged and out of the rain and snow.

 

C5 Corvette in NY Times $16,000
C5 Corvette in MY parking space not worried about the value- PRICELESS

 

If I was worried about how much money I would lose on my Vette, I would never have bough it!

Cars usually do not go up in value!

 

value of a vette may be dropping so are prices of homes dropping if you are not selling either it means nothing so go and enjoy your vette

 

Heres the deal. C6 new prices have huge incentives which are pushing used C6 prices down which push C5 prices down.

 

Good point

 

Kubriks dealership (spelling may be off) was advertising NEW Z06's for 12K off MSRP. Some reported getting even better deals.

 

 

If you buy a C5 with the intention of driving it for the next 20 years, then who cares about the price. You will get 20 years of enjoyment which is worth every penny.

If you buy a C5 with the intention of driving it a year or two, then trading it in for a C6 or something else, then used car prices are very important. I doubt anyone would be willing to take a 5K loss on a C5 when trading it in after only driving for a year or two. Most want to have the C5 hold its value better when trading it in. Otherwise, many people may avoid buying a C5 and save the money in the bank for a better deal on a C6 next year figuring 5K saved from not losing depreciation on a used C5, and 5K possible price drop in C6 prices would be a savings of $10K.

 

exactly

 

I lost a lot in value of mine, but I don't care about all of that. I love the experience of owning a Vette. I don't even plan on selling it. I still have my first car!

 

Couldn't have said it better. While I'd love a C6Z,I'm perfectly content with my 04 coupe. For now...

 

First car , which is?

 

It depends on where you are located. Around here [outer banks] the value is holding up well. I sold a "97" coupe last year for $17,500. Also, the condition of the car is really important. I looked at a 98 coupe for $14,000 but it was not to my standards and had 93,000 miles on it. I ended up buying a "99" auto coupe and have around $18,000 in it but it is a super clean loaded car with 54000 miles that looks and drives like new! I say spend a little more and save your self some head aches and money in the long run!
Dave

 

It happens to all used cars unless it's collectable.

 

OOOOOOOOOOOO U "seen" it was down $2750?????
FROM what and when, compared to what? This isnt the stock market
$2750 is nothing either way on a car

 

Dave, KBB lists the used car trade-in value for a 1999 Corvette auto with 54,000 miles as $12,150 for good condition and $12,900 if it is in excellent condition which KBB says is less than 5% of of all used vehicles fall into this category. So you know a dealership would not have paid him more than that amount. I dunno why people are willing to pay much more than market value. Edmunds lists the trade in value at $10,803 and the private party "true market value" at $12,410. I bet if you didn't buy it the seller would have had it on the market for many more months, and you would have been able to buy it for thousands of dollars less if you would have waited. Sometimes the best thing to do is not buy with emotion but use all the tools like Kelly Blue Book and Edmunds so you get a good deal on the car you want.

Most sellers are under pressure to sell. Very few sellers can afford to wait six months to see how much more their car depreciates. The unrealistic sellers are forced to adjust prices to market values after a month or two of no sales. KBB and Edmunds can not be wrong. It is the seller who is not pricing correctly for market conditions.

Dave, what will you do in a year or two when you want to trade your 1999 Corvette in for a newer C6 and dealers only offer you 9K or 10K? If you would have paid blue book prices for your C5 then you wouldn't lose so much money when you upgrade.

 

$2750 is nothing to sneeze at. That is a 60" plasma television. Or a round trip airline ticket to paris and then london including hotel and all meals and visiting all the tourist spots. Or season tickets to the MLB baseball team of your choice which is 81 home games.