Future C5 Prices
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Pro
Joined: Jun 2004
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From: Prattville AL
Future C5 Prices
Ive heard different predictions on what C5 prices will be a few months down the road. Some say they will fall even more when the C6 hits the road, where as some as that one all the discounted C5s sell, the used C5 prices will rebound. What do you think will happen?
Pro
Joined: Mar 2003
Posts: 524
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From: Draper Ut
Cars are definitely a liability, not an asset by any means. If the overall value of the C5 is demonstrated to the potential buyer much higher prices could be asked. C5's are impressive in many manners, hate to see people even come close to "giving" them away. 
Drifting
Joined: Apr 2001
Posts: 1,337
Likes: 52
From: Wentzville, MO.
Just guestimating but you fiqure over the 7 year run over 150,000 C5s produced...a significant percentage to people who treat it like a car.. price will be determined by the market and in time a lot of used C5s will be for sale.....
I'll keep mine, I've modded it too much for anyone to want but me....
I'll keep mine, I've modded it too much for anyone to want but me....
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Team Owner
Joined: Jul 2004
Posts: 24,652
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From: NJ
St. Jude Donor '05-'08
Originally Posted by DaBoz
Except for a few exceptional investment grade cars, all will depreciate. They are a liability, not an asset.
That's just how it is.....
That's just how it is.....
I have a 1987 Porsche 928S4 which costed $70 new back then (which is roughly $120K in today's dollars). The car went into the $100K range toward the end of production. I believe the total imports for all 928s was around 25K (which is less than Vettes produced in just 1 year). That being said the current value of most 1987 S4 is around $10K. Of course many have miles that are in the 100 range, but these engines have been proven to go over 300K. Mine which has 168K on it still runs strong and after removing the valve covers I looked inside and a mechanic friend of mine said he ahs seen many cars with 60K miles that have so much junk inside there and he was amazed the 928 was spotless. Since the car is aluminum there is no rust and the paint looks as new as it did back then.
Anyway that being said I think that unless you get lucky and have a rare car that people want your car is going to drop in value as time goes on even if it is still a great car.
3rd Gear
Joined: Jul 2004
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From closely watching Ebay, it has been clear for some time now that very few sellers of used C5s are getting offers that are even close to their reserve prices. As a result, they repeatedly try and fail to sell their cars at their overinflated and unrealistic asking prices.
Watching the paper, car lots, and the Auto Trader, the same C5s sit for months still unsold. Because of this continuing trend, it is difficult to expect that C5 prices will go higher anytime soon, especially once the new model is readily available. At the same time, more and more used C5s become available for sale.
The supply is outpacing the demand, resulting in the accelerated depreciation and lower sale prices that we have been seeing.
Just my two cents.
Watching the paper, car lots, and the Auto Trader, the same C5s sit for months still unsold. Because of this continuing trend, it is difficult to expect that C5 prices will go higher anytime soon, especially once the new model is readily available. At the same time, more and more used C5s become available for sale.
The supply is outpacing the demand, resulting in the accelerated depreciation and lower sale prices that we have been seeing.
Just my two cents.
Team Owner
Joined: Jul 2004
Posts: 24,652
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From: NJ
St. Jude Donor '05-'08
Originally Posted by Thrust
From closely watching Ebay, it has been clear for some time now that very few sellers of used C5s are getting offers that are even close to their reserve prices. As a result, they repeatedly try and fail to sell their cars at their overinflated and unrealistic asking prices.
Watching the paper, car lots, and the Auto Trader, the same C5s sit for months still unsold. Because of this continuing trend, it is difficult to expect that C5 prices will go higher anytime soon, especially once the new model is readily available. At the same time, more and more used C5s become available for sale.
The supply is outpacing the demand, resulting in the accelerated depreciation and lower sale prices that we have been seeing.
Just my two cents.
Watching the paper, car lots, and the Auto Trader, the same C5s sit for months still unsold. Because of this continuing trend, it is difficult to expect that C5 prices will go higher anytime soon, especially once the new model is readily available. At the same time, more and more used C5s become available for sale.
The supply is outpacing the demand, resulting in the accelerated depreciation and lower sale prices that we have been seeing.
Just my two cents.
I have to agree just buying my Vette. 3 months ago I looked at it and the price was too high. After 3 months of just sitting there they dropped the price $7K and then I asked for another $1K off it and I got it.
3 months = $8K savings - NICE!
Racer
Joined: Mar 2002
Posts: 360
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From: Plano Texas
Who knows. My Dad bought a '93 6-speed in January '02 for $16,000. Similar cars are still in the $15,000 range.
My point is that they will eventually hit a "floor." And, when the cheap '04's are all sold, and people are looking at $60k for a C6, we might see a little rebound.
My point is that they will eventually hit a "floor." And, when the cheap '04's are all sold, and people are looking at $60k for a C6, we might see a little rebound.
Team Owner
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From: D*ck ina Box
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St. Jude Donor '03-'04
Originally Posted by SphyNxXx
Ive heard different predictions on what C5 prices will be a few months down the road. Some say they will fall even more when the C6 hits the road, where as some as that one all the discounted C5s sell, the used C5 prices will rebound. What do you think will happen?
Look at what has happened to C4 prices....
Drifting
Joined: Jul 2001
Posts: 1,511
Likes: 1
From: Winter Park Fl
Originally Posted by SphyNxXx
Im referring to the price of used C5s, not the remaining brand new ones.
History repeats its self year after year after year. ALL Corvette prices (execpt speciality cars) will continue to drop throughout the years untill they eventually bottom out. At which time they begine to rise slightly. Bet on it.
