C5 price jump?
Thread Starter
Le Mans Master
Joined: Sep 2016
Posts: 6,480
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C5 price jump?
Looking through the for sale ads lately I have noticed there seems to have been a recent jump in prices. Dealers are commonly asking over $20K for low mileage '01 and newer C5s (non Zs). Did something happen to the market recently that I didn't catch?
Thread Starter
Le Mans Master
Joined: Sep 2016
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Last edited by grampi50; Nov 6, 2019 at 03:43 PM.
Instructor
Joined: Jan 2012
Posts: 133
Likes: 39
From: KY
Lol, see my recent post. I was told the C8 is killing resale and was offered $14k trade for a bone stock, close to perfect, 36,000 mile ‘03 Z06 on a trade on a C3. No, I was not expecting retail or even close, but not $14k either.
I’m not expecting this madness to happen, but when the restyled retro Mustang came out in ‘05 there was a such a frenzy it raised prices of the used previous gen as people wanted to get in on the craze. That would be nice if it happened for Vette owners, but I highly doubt it.
I’m not expecting this madness to happen, but when the restyled retro Mustang came out in ‘05 there was a such a frenzy it raised prices of the used previous gen as people wanted to get in on the craze. That would be nice if it happened for Vette owners, but I highly doubt it.
Last edited by JeffNReg; Nov 6, 2019 at 04:19 PM.
Thread Starter
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
Lol, see my recent post. I was told the C8 is killing resale and was offered $14k trade for a bone stock, close to perfect, 36,000 mile ‘03 Z06 on a trade on a C3. No, I was not expecting retail or even close, but not $14k either.
I’m not expecting this madness to happen, but when the restyled retro Mustang came out in ‘95, there was a such a frenzy it raised prices of the used previous gen as people wanted to get in on the craze. That would be nice if it happened for Vette owners, but I highly doubt it.
I’m not expecting this madness to happen, but when the restyled retro Mustang came out in ‘95, there was a such a frenzy it raised prices of the used previous gen as people wanted to get in on the craze. That would be nice if it happened for Vette owners, but I highly doubt it.
Burning Brakes
Joined: Oct 2012
Posts: 960
Likes: 118
From: Panama City, Florida
I just purchased a 97 C5. Went to NADA for pricing and was surprised it did not ask for mileage. So i went to my credit union and they told me what they would loan on the car. So I based my decision on that. Which was retail on NADA. I guess since the car was 23 years old they don't take mileage in to account?????
Racer
Joined: Oct 2012
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From: Birmingham Alabama
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Melting Slicks
Joined: Oct 2016
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NADA is not totally based on actual sales. The guides reflecting true value are based on the auction market within a region. Dealers are now using very sophisticated computerized models that give them a wealth of transactional information.
Thread Starter
Le Mans Master
Joined: Sep 2016
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https://www.autotrader.com/cars-for-...ckType=listing
Melting Slicks
Joined: Oct 2016
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Pricing a car for retail on the lot and pricing a car for a wholesale transaction are two very different items. The wholesale market on used cars is a very analyzed and studied one where dealers most often pay for services of various sources not normally available to the public. Pricing the car for retail has a lot to do with the individual dealer's location, reputation, clientele, talent, and experience.
At the end of the day, it is the dealer's car, their money invested, their advertising dollars to spend, and their profit to make...or not. One thing is certainly very likely to be true, they are damn sure more likely to know what they are doing than the amateurs sitting at home observing!
At the end of the day, it is the dealer's car, their money invested, their advertising dollars to spend, and their profit to make...or not. One thing is certainly very likely to be true, they are damn sure more likely to know what they are doing than the amateurs sitting at home observing!
Pro
Joined: Oct 2018
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It all really has to do with the economy, if a dealer has access to lots of credit options they can usually charge more because they can get more people approved.
If you have 10 to 15 cash ( hatch back is even less ) you can get great deals on these cars which is basically 1/3 off what the dealers want but you have to be patient for the deals and if you want a specific car you better be willing to pay and travel. I found that out when I was looking for a Mag Red 2 in black with a stick and I still say these look like they may bring more than the Z06 when it is all said and done....
If you have 10 to 15 cash ( hatch back is even less ) you can get great deals on these cars which is basically 1/3 off what the dealers want but you have to be patient for the deals and if you want a specific car you better be willing to pay and travel. I found that out when I was looking for a Mag Red 2 in black with a stick and I still say these look like they may bring more than the Z06 when it is all said and done....
Last edited by Whipitnow; Nov 7, 2019 at 08:58 AM.
Melting Slicks
Joined: Oct 2016
Posts: 2,873
Likes: 2,505
It all really has to do with the economy, if a dealer has access to lots of credit options they can usually charge more because they can get more people approved.
If you have 10 to 15 cash ( hatch back is even less ) you can get great deals on these cars which is basically 1/3 off what the dealers want but you have to be patient for the deals and if you want a specific car you better be willing to pay and travel. I found that out when I was looking for a Mag Red 2 in black with a stick and I still say these look like they may bring more than the Z06 when it is all said and done....
If you have 10 to 15 cash ( hatch back is even less ) you can get great deals on these cars which is basically 1/3 off what the dealers want but you have to be patient for the deals and if you want a specific car you better be willing to pay and travel. I found that out when I was looking for a Mag Red 2 in black with a stick and I still say these look like they may bring more than the Z06 when it is all said and done....
Certainly you can get a better price from the individual because they don't have the necessary resources and or experience. Some will even be desperate and in a panic for any sale. Of course, once paid for you own it and trying to chase a moving target in a problem situation is much more difficult than a fixed base dealer.
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Le Mans Master
Joined: Sep 2016
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If you are financing the car yourself, buy-here-pay-here, by the business model you will get more. If you are financially strong enough and have a deal where you are signing recourse, you can get marginally more. In reality though, the Corvette does not at all fit into those business models. Otherwise you are limited by the lenders stipulations and might get a marginal number of deals approved extra if you do enough volume.
Certainly you can get a better price from the individual because they don't have the necessary resources and or experience. Some will even be desperate and in a panic for any sale. Of course, once paid for you own it and trying to chase a moving target in a problem situation is much more difficult than a fixed base dealer.
Certainly you can get a better price from the individual because they don't have the necessary resources and or experience. Some will even be desperate and in a panic for any sale. Of course, once paid for you own it and trying to chase a moving target in a problem situation is much more difficult than a fixed base dealer.
Melting Slicks
Joined: Oct 2016
Posts: 2,873
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People love to think it means something and they should if they are fortunate to have enough cash for the purchase. To the dealer, it simply takes away a major profit opportunity of arranging financing. It is not going to buy you a price concession even if the dealer plays to your vanity and says it does.
Thread Starter
Le Mans Master
Joined: Sep 2016
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I just looked up the NADA value of the C5 in the link I posted and they have it priced at $13,962 for the zip code of its location, and that is the highest condition rating. I realize this car is worth considerably more than that, but it isn't worth anywhere near what they're asking for it...they are in the Z06 price range...
Last edited by grampi50; Nov 7, 2019 at 04:47 PM.
Thread Starter
Le Mans Master
Joined: Sep 2016
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People love to think it means something and they should if they are fortunate to have enough cash for the purchase. To the dealer, it simply takes away a major profit opportunity of arranging financing. It is not going to buy you a price concession even if the dealer plays to your vanity and says it does.
Instructor
Joined: Jul 2017
Posts: 167
Likes: 52
From: Kingman, Arizona
I just looked up the NADA value of the C5 in the link I posted and they have it priced at $13,962 for the zip code of its location, and that is the highest condition rating. I realize this car is worth considerably more than that, but it isn't worth anywhere near what they're asking for it...they are in the Z06 price range...
It’s worth whatever someone is willing to pay for it. True in all cases.
Melting Slicks
Joined: Jan 2007
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