I'm currently considering buying a 2004 Z06 for under $30,000 when I return from deployment in about 8 months, but I want to know what you folks think about the future depreciation of the C5 Z06. It appeals to me because I've always owned GM's (even a 1972 Silverado that now has 400+ thousand miles on the original engine and transmission!). And for the price the Corvette is out of the league of most other cars by a mile.

What I'm really looking for is a car that I can own for 20 years, without facing too much deprecation if I wanted to sell it then. I am particularly looking at the 2004 because it is the full evolution of the design, which matters later on. I have extensive experience maintaining cars (replacing engines, ect) so long term maintenance shouldn't be an issue as far as I have read considering that these cars are pretty reliable.

That being said, I have considered a list of other cars which I think would stand to appreciate in value (911SC, BMW Z3M Coupe, maybe the Z4M coupe). What helps the BMW's is that they were made in very small numbers in the US which makes them rare and the Z3's (only M coupe S54's) have started to skyrocket in value already. The Porsche has become more desirable because of its age. I have also considered a C4 ZR1, but I am a bit scarred off by the depreciation of the regular C4.

I know older Corvettes hold or gain value, C3's and before, but the C4 is a bit of a paradox. I think the C5 will eventually follow this trend as well because Corvettes, in general, face a high mortality/telephone pole interaction rate.

But what do you think will happen with the C5 Z06 based on your experiences with Corvettes? I would think it might dip into high teens/low twenties in the next 10 years and then begin the upswing, but I could be very wrong on that!

Most important to me is that I would like a car which I can drive on the occasional weekend (I have a truck and motorcycle to DD) and invest a lot of time in as a hobby/garage queen, but actually be able to get some money back later on. Most cars you invest a load of time into just end up being worthless because of depreciation regardless of how you personally feel about the car

Thanks for reading my wall o' text!

 

there is absolutely no way of knowing 20 years out. it's hard enough looking 2 years out since the c7 is now out. 2 years out values look pretty stable. 20 years it's impossible to tell. we have no idea what the global crude oil situation will be like in 20 years or what new tech will be out. one of the biggest reasons the c4 fell off a cliff in value is that the c5 surpassed it by such a huge leap. it was also a car designed in very very early 80s and was as refined as one could hope by 1996.

if there is any c5 i would say you should buy it's an ultra low mile z16 z06 if you want to attempt to hold on to the most value, expect to pay 30k after negotiations for one of those sub 10k mile cars. either that or a 150k mile late 90s car for 9-10grand which limits how much you lose purely by how much you spent.

 

It won't gain value but it won't lose a ton either, unless you are foolish and pay almost $30k for one. For the most part, the C5Z is nearly fully depreciated at this point. You can pick them up for $14-22k all day long depending on miles and overall condition.

If you are looking for an investment, I'd recommend buying something other than a car.

 

If you pick up a 03 z06 on the low side of book value you should be fine.... Winter time is the best time up here in the NW to buy a fair weather car...

 

$30k??? Walk.

 

04 z16 with 1-9k miles pulls that all day

 

I'm not looking for an investment, but more along the lines of a car that won't depreciate to less than 5k after 15 years. Take the older style Camero's or Mustang or BMW M3's for example. A 15 year old version of one of those car will depreciate to around 5 grand in 15 years.

What I was thinking with the Corvette is that a 20 year old C5 Z06 with less than 50,000 miles will still be worth near 20 grand. Provided you buy at an already fairly depreciated price, say $25,000-27, you only lose $5000-8000. That's more along the lines of what I was asking. And that's highly dependent on what people think about the C5's overall. The largest thing hurting their resale is probably the sheer numbers produced.

Thanks for the reply's too!

 

Clean examples of those cars will never fall below $5k. Also, you spelled Camaro wrong...as a former Fbody owner, that's a huge no no

You can't even find C4s for under $5k, unless they are subpar examples, so I'm not sure what you are worried about.

 

Buying a modern car as in investment is a fools game. Buy what you can afford and enjoy it. You're probably never gonna find a car that was produces in the last 20 years that's going to be worth more than you paid for it in 20 years. Mass production is a bitch.

 

there are a few but all of them are low production.

ford gt is worth more now than when new in 2005

ferrari enzo is worth more now than in 2002

ferrari f40 is worth a LOT more now than in 1990

some of the mass produced but still low production cars that haven't fallen very much are

the supra mark 4 turbo, the integra type r and the c4 grand sport convertible. ultra mint low low mile examples of these 3 will sell for as much now as they did when new, the supra may even go above depending on what it is

 

A used car is worth as much as the buyer is going to pay for it. I hope you can relate to what I am saying? Stay safe and appreciate your service!

Micah
USN(Ret)

 

There's something like 400 enzo's ever produced. 4000 Ford GT's ever produced. 1300 F40's ever produced. Supra's go for high prices ever since the F&F movies. Plus, it has just about the most over engineered engine ever. Don't know anyone looking to pay top dollar for an intergra type r. C4 GS cant speak for...

The C5 Z06 production is tens of times more than that. Silly comparison. Buying a modern corvette, or any car, as an investment is silly.

 

Factor in and compare the cost of ownership for those exotics over a 20yr timeframe you don't come out on top most likely...... you still lose your ***....it's a labor of love.... You can minimize your lost but I don't think you do it in a high end exotic....not saying you can't but better luck with a corvette...

 

I wouldn't let my C5Z go for less than 30K, I also have over 43K into it so... A well built low mileage Z06 is worth that imo...

 

OP I wouldn't worry about the C5Z losing to much value... These cars are essentially the Notchback Mustang of the Corvette world, They are very desirable, Unique styling, Extremely fast, Handle great and the list goes on... Most deff the best bang for buck true sports car you can buy. You get the performance of what cars 3x more cost.

 

LOL I guess you'll never let go if it then.

 

I can see you haven't owned many C5Z's lmao. I just sold my Black cam only one with 27k miles for 26k the first week of September this year. My red one has 21k miles and is a true 10 out of 10 car with a forged head/cam LS7 427, A full RPM built 4L65 swap, fully built RPM C6Z diff, big brake kit, full coilover suspension and the list goes on and on and on. Car is a 600rwhp N/A car that looks and drives completely stock but can also crack off a high 9 low 10 second pass @ mid 130's without trying. So yea. I'm pretty sure I can get 30 grand no problem because I can assure you there's not another Z06 like it lmao.

 

 

just payed $26k for my 03 Z last feb. I run the **** out of it almost everyday and don't regret it for one second! need tires BADD

 

I agree with this statement since I own both, a 28k mile Z, and an unmolested 91 notchback 5.0.

Since the Z cars represent a smaller percentage of the C5 population, I feel as though the finer examples will remain a good investment over time. IMO they are now at about the lowest that they're going to be, so buying now is smart.