Are you saying this because you own a c5?
I can understand all C5 owners do not want to lose the value of their cars.
But the fact is ALL cars depreciate regardless of what the price of the new c6 zo6 is going to be. :rant:


[Modified by japon, 4:01 AM 1/15/2004]

 

No, we are saying they won't depreciate to the point of going for $20K. Of course all cars depreciate, but what we arguing is how much that depreciation will be.

I wouldn't sell my car for any less then mid $40s now (I know not many would buy it), however there others that are convinced a $50K car will depreciate to $20K over 2 years :rolleyes:

-N

 

Around here, the prices are higher than alabama. We have Microsoft and Boing pumping money into the economy. This goes to show each area may have different pricing, even at the auctions.

Joel

 

Japon, I know this is off topic a little, but what the heck is a "1995 Stingray" (your car)?

Gotta say this thread cracks me up. The guys who desperately want a Z06 are trying to wish the price down, while some of the guys who do own them want to think they have a ZR-1. I would not pay more than $40K for a new Z06 right now. But those of you who think the car will magically depreciate 50% in one year are kidding yourselves.

Personally, I will probably keep my Z for another two years even though I desperately want my Targa roof back (sold the Coupe) and I love the C6. The reasons are (1) Why should I pay $50K+ for a new car that doesn't outperform the existing one; (2) I don't believe the Z51 C6 will perform on par or feel as tight as the Z06; (3) I love the Z's body style and mission; (4) I will give the new car a year to season to get the kinks out and avoid dealer markup.

By that time, the new Z06 will be out, and I probably won't be able to resist the allure of 500 ponies. Most Z06 owners are in the same boat as me, so you probably will not see a bunch of used Z's on dealer lots.

Also, you guys that are itching to get one: no point hoping for a summer price break: the new car isn't even out until late August.

So start saving your pennies now if you want to make the jump. It's worth it, trust me. I've owned 2 3rd Gen RX-7s, an MKIV Supra TT, and a 300ZX TT back in 1990. The C5, despite it's shortcomings, is a better car. I was a Mazda fanatic (still am), but I gotta tell ya...once I got the Vettes, I never looked back.


[Modified by TTRotary, 12:50 PM 1/15/2004]

 

Nabbs, I agree with your statement, you are right on target. I wish others here would understand, that we're not trying to say that because we have a Z06 that we want to get the highest dollar, and we're not trying to compare it with the ZR1, but what we are trying to say is that we bought them in a market that was very soft. The ZR1 was sold in an inflated market. These Z06's should have been going for MSRP, but some were going for invoice, others were going for $5K under MSRP, plus rebates which GM never did for their flagship Corvettes. So naturally, when the market picks up, we have an advantage. We bought lower, so this Z06 will only stabilize or go higher.

Let's say you get into an accident with the car and the car is totaled. MSRP was $54K and you bought it for $46K, and now you totaled the car and the insurance company goes by the NADA retail book. You used the car for a year. Because you paid less than true market value, you won't lose. So, as the economy slowly picks up, which it is starting to do now, we will be in a better position when selling.

Years ago, back in the early '70's there were articles written in Corvette magazines and Corvette Quarterly that a Corvette gave you 20% a year on your dollar. Opposed to what the articles stated, the Corvette actually appreciated about 4% a year. Example: I bought a 1969 Corvette Sting Ray, 350/350, British Racing Green, air conditioning, 4 speed for $3,000 in 1971. I sold it in 1981 for $9,000, and big blocks were going for even more. That's about a 3% increase in price a year and more than half the price of what a new 1981 Corvette was going for. So for anyone here to say that a $55K Corvette will depreciate close to 50% in two years doesn't know the Corvette market, or is a wholesaler looking for prey. I was offered by a wholesaler $36K for my '02 Z06 just two weeks ago. He has been hounding me and calling my house twice a week to try to get me to sell the car to him. He tells me he likes low mileage, garage queens and that he does very well with them. If he makes a few thousand he's happy, because he does this in volume.

You may say the times were different back then, but it's all economics and we happen to have a car that is always in demand, more than other cars. In today's market, even a low end used car with over a 100,000 miles on it, will go for $5K-$7K. In 1980 there were over 40,000 coupes produced and sticker price was about $13,000. To buy one today you're talking about $20-$30K depending on condition and mileage, and if it's an L82 maybe more. A 1991 C4 coupe went for about $33,000, and a good clean one now will still cost you in the mid $20's, and look at how many C4's are flooding the market. And, even though they have depreciated, in 13 years, they didn't depreciate as much as some here claim the Z06 will in two years.

The Z06 is a very special car. It has newer technology, LS6 engine, went back to a chassis, tranny in the rear, completely new suspension and much more. I talk to people every day that wish they can get a Z06, because it's a two seater sports car with performance that keeps up with the exotics, and that's what Corvette is about and sets it apart from Mercedes, Lexus and BMW's.

Maybe people won't like the C6 as much and will want the C5 Z06 because of the styling of the fixed roof/hardtop, hidden headlights, interior style and the fact that it's a signature car, like the '63 Z06, '67 L88, '69 Big blocks, and ZR1.

 

[QUOTE]Japon, I know this is off topic a little, but what the heck is a "1995 Stingray" (your car)?

:lolg:

 

[IMG][/IMG]

Not much pumping in alabama, except the good ol'boys pumpin sheep! :lol:


[Modified by Timz06, 11:07 PM 1/15/2004]

 

As someone with a 2002 Z06, I agree with both sides of your argument here. I don't think you can buy one for $29k with any kind of quality to it - and I don't think it is a collectable like the ZR-1 - which cost a LOT more to begin with anyway.

Now THIS I would like to discuss with you! :) If I can get a 2004 Z06 for $40k I will be trading my 2002. That would give me a nice fresh car to drive for the next couple of years while I wait for a C6 Z06. But I'm seriously doubting anyone is selling new Z06's for less than ~$43k-$44k.

Yeah, the only thing that REALLY hurts right now is 0% financing. That, and the fact that GM will be making invoice, and perhaps invoice and let the customer have a little bit of holdback too, deals on them for the next couple of months.

My local dealer told me they love the new Corvette, but they aren't happy with the fact that no one wants to buy a C5 now. They said they've had 50 people come in and ask about the new C6.

But when I went to sell my 2000, I was shocked at how bad it had depreciated and how much lower I had to go to unload it. Granted, it was high-mileage, but it was in great shape.

Your thinking is similar to mine, although I would seriously look at a 2004 for $40k to ride the wait out more comfortably.

:cheers:

 

I bought mine there 15 Sep 02 - just BEFORE the first 0% sales incentive..very happy with my deal...

:iagree: