[Z06] Mods vs value
Thread Starter
Melting Slicks
Joined: Jan 2004
Posts: 2,158
Likes: 4
From: Henderson Nevada
Mods vs value
At the risk of being severely flamed....
There are two common threads on the forum lately. One, since the announcement of the C6, is what is happening to C5 values. The other thread is what mods to do. These two are related.
Because everyone's tastes are different, it is only natural that modifying your 'Vette would be popular. For the same reason, modified cars lose value much faster. The same applies to houses (never paint your house anything other than neutral colors when getting ready to sell) and hot rods ($100K invested will never bring that much when selling).
Any dealer taking a modified car in trade will wholesale it through the auctions. It is just too much trouble to try to sell, because each prospective buyer will be thinking of how to undo the mods they don't like to make the car their own. A blank canvas as they say.
So, if you are worried about resale, don't modify. If you're keeping the car for a while, go for it. Just don't then be surprised when others don't value your mods as much as you do.
Anyway, my thoughts.... Yours?
:cheers:
There are two common threads on the forum lately. One, since the announcement of the C6, is what is happening to C5 values. The other thread is what mods to do. These two are related.
Because everyone's tastes are different, it is only natural that modifying your 'Vette would be popular. For the same reason, modified cars lose value much faster. The same applies to houses (never paint your house anything other than neutral colors when getting ready to sell) and hot rods ($100K invested will never bring that much when selling).
Any dealer taking a modified car in trade will wholesale it through the auctions. It is just too much trouble to try to sell, because each prospective buyer will be thinking of how to undo the mods they don't like to make the car their own. A blank canvas as they say.
So, if you are worried about resale, don't modify. If you're keeping the car for a while, go for it. Just don't then be surprised when others don't value your mods as much as you do.
Anyway, my thoughts.... Yours?
:cheers:
Le Mans Master
Joined: Nov 2002
Posts: 7,205
Likes: 282
From: NoVA
Re: Mods vs value (mforman42)
When I sold my 99 coupe I removed all the mods.
I put it back to %100 factory stock.
I then put some of the mods on my Z and sold the rest.
I used to money to buy more mods for my Z.
It ended up that I only spent a few hundred $ to mod up my Z.
I have about $6K in mods on it. :smash:
I put it back to %100 factory stock.
I then put some of the mods on my Z and sold the rest.
I used to money to buy more mods for my Z.
It ended up that I only spent a few hundred $ to mod up my Z.
I have about $6K in mods on it. :smash:
Team Owner
Joined: Sep 1999
Posts: 20,054
Likes: 44
From: Swansea IL
Re: Mods vs value (mforman42)
Your 100% correct, if your going to sell your car you can write off the cost of the mods and in fact they may even hurt what you can get for it. Some mods scream "abuse me" when in fact the car was never abused. I guess you could say that about my car, one mod led to another and before you know it $9000 later and counting I'm still not done.
Here on the CF I may find just the right buyer and make back some of what I put into my car, but I'm not going to hold my breath.
Tom
Here on the CF I may find just the right buyer and make back some of what I put into my car, but I'm not going to hold my breath.
Tom
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Le Mans Master
Joined: Sep 1999
Posts: 7,810
Likes: 417
From: FL
Re: Mods vs value (barondw)
You're right, if you mod and don't remove them then you have to try and sell your car to another enthusiast.........
......................who likes what you have done to the car as if he/she were doing the mods himself. Mods bring nothing to the table. Paying for someones elses personalization might make you THINK you want them, but after you have them, you really have nothing more than someone elses creation..............and headaches...sometimes.
I see it all the time in the motorcycle sales business...........people buy a bike, load it up with do dahs and "bling$ - bling$", mod the motor with cams heads, exhaust, just to sell it for a loss after they beat the heck out of it for a year or two................and it might have ALL of 4,000 miles!
Instructor
Joined: Jan 2003
Posts: 209
Likes: 0
From: Orangevale CA
Re: Mods vs value (CPT Z06)
:cool: :auto: The C5 has unlimited potiential! Why buy one if you are not going to make it go faster? Everyone has their own tastes and preferences but their are a number of mods that are widely accepted as only being good. Mods should have a positive impact on your resale price as long as they are not too far out! :cheers: :cheers: :cheers: :cheers:
Thread Starter
Melting Slicks
Joined: Jan 2004
Posts: 2,158
Likes: 4
From: Henderson Nevada
Re: Mods vs value (Cool Ryd)
:cool: :auto: The C5 has unlimited potiential! Why buy one if you are not going to make it go faster? Everyone has their own tastes and preferences but their are a number of mods that are widely accepted as only being good. Mods should have a positive impact on your resale price as long as they are not too far out! :cheers: :cheers: :cheers: :cheers:
Hey, if the car is driven for 1000 1/4 mile runs, it only has 250 miles on it.
So, don't plan on getting anything for the mods you've made, unless you can find a buyer who likes exactly what you like. And, given the discussion on this group, that's highly unlikely. How many threads do we have starting, 'what's the best...'?
Anyway, my take. Enjoy your car.
Burning Brakes
Joined: Sep 2001
Posts: 1,181
Likes: 0
From: When I say who is the mastah you gotsta say Shonuf
Re: Mods vs value (mforman42)
One looking to buy a used 'Vette may, or may not, like what you've done. And, certainly, performance mods make me suspicious of how much the car may have been 'used up' instaed of 'used'.
Hey, if the car is driven for 1000 1/4 mile runs, it only has 250 miles on it.
Hey, if the car is driven for 1000 1/4 mile runs, it only has 250 miles on it.
Race Director
Joined: Dec 1999
Posts: 11,799
Likes: 10
From: Houston Texas
St. Jude Donor '08
Re: Mods vs value (mforman42)
Mods are definitely not an investment. They are an expense. I don't care though as they make the car that much more fun. I think this will be the last Vette that I do significant mods to though. I've lost too much money doing this to past cars.
Team Owner
Joined: Sep 2001
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From: Ormond Beach FL
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Re: Mods vs value (mforman42)
Mine is modded... I expect to get about a 3rd of my mod $$ back from the car.... and there is always an interested person in a modded car... just gotta find the right one... I do it because I like it and its a hobby... I dont expect to make $$ from it..just have fun :yesnod: :cheers:
Team Owner
Joined: Mar 2001
Posts: 25,889
Likes: 7
From: Virginia Beach
CI 3-5-6-7-8 Veteran
Re: Mods vs value (Traceys2vettes)
:withstupid: Exactly... mods aren't an investment. We love cars and they're our hobby, not just transportation. Where paying to have fun. It's like buying new golf clubs and better ***** etc.
Pro
Joined: Jun 2003
Posts: 716
Likes: 0
From: United States
Re: Mods vs value (mforman42)
I agree on the mod. theory. I wouldn't buy a used significantly modded Corvette. My only mod. can be reversed in an hour and I kept the original parts. Just another free opinion.
Oh, and the earned incentive comp., stock, and other neat stuff I got today will take care of that C6 and a lot more if and when the C6 becomes desireable...yahoo! Just had to celebrate, yuk , yuk , yuk! I'm goin' for a RIDE!
:D :D :D :steering:
Oh, and the earned incentive comp., stock, and other neat stuff I got today will take care of that C6 and a lot more if and when the C6 becomes desireable...yahoo! Just had to celebrate, yuk , yuk , yuk! I'm goin' for a RIDE!
:D :D :D :steering:
Advanced
Joined: Nov 2003
Posts: 59
Likes: 0
From: LAS VEGAS NEVADA
Re: Mods vs value (Cobra4B)
:withstupid: Exactly... mods aren't an investment. We love cars and they're our hobby, not just transportation. Where paying to have fun. It's like buying new golf clubs and better ***** etc.
RIGHT ON! :D