Why are vettes values dropping so fast
#41
#42
Instructor
I bought my '99 new so I've "suffered" more depreciation than most on this thread that were smart enough to buy theirs used. When it was new and under warranty I b*itched and moaned about the leaks, the sticky throwout bearing, the crazy fuel sender, the jammed seat belt retracters, the remote column lock that left me stranded, etc, etc.
Now that I'm past all that crap and the car is going on 12 years old it is truly a delight to drive. I have no squeaks or rattles, people think it's new, it costs me about $100 a year in repairs and everything works - even the tire pressure senders. Best of all - I get 30 mpg on the highway and it's a blast to drive. I'll probably keep it another 12 years at this rate. Who cares what the value is.
Now that I'm past all that crap and the car is going on 12 years old it is truly a delight to drive. I have no squeaks or rattles, people think it's new, it costs me about $100 a year in repairs and everything works - even the tire pressure senders. Best of all - I get 30 mpg on the highway and it's a blast to drive. I'll probably keep it another 12 years at this rate. Who cares what the value is.
#44
Burning Brakes
#46
Drifting
Let me be the first to congratulate you for a usless post, I have to say that the C5 is the best car I have ever bought and I have bought a few over the last 40 years and some were newer than my C5. Issues with my car have been next to nothing, Over 50K on it and it still drives and rides like it was new. If you take care of it, It will take care of you. I don't think parts are out of line price wise. Check the price on a Lexus headlight bulb...240 bucks....lol
Mr.Bill
Mr.Bill
old Dave
#47
Safety Car
I bought a sky new. You want to talk value drop try one of those. Since Saturn went away they are way down. Body parts are hard to get. There are not enough of them for the aftermarket to really support them. The only thing that really holds its value seems to be diesel PUs. I think its because they last so long and the new ones go up so much every year. Mine is a 2003 Chev and thats the last Duramax with no emission crap at all. Those go for more than the newer one of the same body style. Fuel milage has dropped on them with every change since. The new ones get the same MPG as a Gasser so why pay for the diesel.
#48
Racer
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I bought a sky new. You want to talk value drop try one of those. Since Saturn went away they are way down. Body parts are hard to get. There are not enough of them for the aftermarket to really support them. The only thing that really holds its value seems to be diesel PUs. I think its because they last so long and the new ones go up so much every year. Mine is a 2003 Chev and thats the last Duramax with no emission crap at all. Those go for more than the newer one of the same body style. Fuel milage has dropped on them with every change since. The new ones get the same MPG as a Gasser so why pay for the diesel.
#49
Safety Car
Bully dog is not as good as Edge. I have Edge plus Banks intercooler and big head waste gate valve 4" exhaust air aid intake and pro fab air horn. Its got way more power than is safe in a truck. But it gets 14 mpg towing a 30' travel trailer and never drops out of overdrive at freeway speeds. Edge lets you change tunes on the fly and displays 4 items. Most important to me are EGT and Boost.
#50
#51
Melting Slicks
Member Since: Oct 2007
Location: It's true money can't buy happiness, but it is more comfortable crying in a Corvette than on a bicyc
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St. Jude Donor '13
Personally I think $13,900 for a 98 is over priced. I bought my 99 in 07 for $17,000 and would be tickled to death to get even $12,500 for it with all the mods.
#52
Burning Brakes
I feel exactly the same about my Vette. The value my car has to me will change from time to time, but I generally always want waaaayyyy more than it's worth to most other people. If someone wanted my car right now, I'd have to get at least $30k!!! Really, I wouldn't entertain any offers less than that.
I'll probably sell my car in a few years, and when I do I'll probably get retail price for it, just as I have with most of my cars and motorcycles.
Reselling a car is all about creating value in the eye of the potential buyer. I will never sell it for anywhere close to what I have paid into it, but that doesn't matter. It only matters that I get a good price for it WHEN i sell it.
It's important to note that mods and aftermarket parts only have a minimal effect on sale price, UNLESS you can show a value of those parts to a potential buyer.
#53
Drifting
#54
Burning Brakes
Member Since: May 2003
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#55
#57
Team Owner
There is one reason the forum price is lower. Everytime someone lists a car, experts jump on with criticism of the price being too high. Even if they're not in the market, they feel the need to tell someone else what they should ask for their car. A car they haven't even seen.
#58
#59
Le Mans Master
#60
Le Mans Master
All Corvettes are investments. Some are great investments and some very poor. I noticed most on this thread are at least a little concerned about values and who wouldn't be? If you decide to sell some day you wouldn't want to give it away would you? Normally you would want to get at least some of your original investment back. I think we all expect to lose money on a C5, we just don't want to lose more than we expected.