C5 price increase
Thread Starter
Pro
Joined: Jun 2004
Posts: 556
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From: Hollywood , Atlanta Fl
C5 price increase
wow I bought my car this year and paid $46 000 CND. Was just checking out pricing and wow what a drop. Question will the price increase a little in the spring?
P:S Its cheaper to buy a vette in the USA $29000 for a 00 vert ##it with the exchange rate now at $ 1.17 I think I will export them to Canada and make some cash
P:S Its cheaper to buy a vette in the USA $29000 for a 00 vert ##it with the exchange rate now at $ 1.17 I think I will export them to Canada and make some cash
Race Director
Joined: Jun 2002
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From: Columbia MD
Increase - not hardly with the introduction of the C6. We can only hope. Of course, if they have any more problems with the 6-speed trans or more recalls, we may see the prices start to rise. 
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Don't expect it to go up anytime soon. Wish it would.
Le Mans Master
Joined: Jun 2004
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From: Dallas Texas
St. Jude Donor '06-'07-'09-'10
Originally Posted by 00hotvette
What is driving the price? Dealers or private sales? Or should I say droping
What caused the nosedive was GM's huge discounts and 0% interest rates on 2004's late this Summer. Dealers were offering new Vettes for up to $12K off MSRP. Naturally, used prices took a hit and the possiblity of them going back up are nil, unless they stop making new ones.
Thread Starter
Pro
Joined: Jun 2004
Posts: 556
Likes: 1
From: Hollywood , Atlanta Fl
That sucks as vette owners we take great pride in our cars. (low miles ect) Its to bad I think my car is worth at least $35g. Hope they don't drop to much. I feel sory for those who bought 03 models
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Race Director
Joined: May 2001
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From: Guelph, Ontario
Originally Posted by 00hotvette
wow I bought my car this year and paid $46 000 CND. Was just checking out pricing and wow what a drop. Question will the price increase a little in the spring?
P:S Its cheaper to buy a vette in the USA $29000 for a 00 vert ##it with the exchange rate now at $ 1.17 I think I will export them to Canada and make some cash
P:S Its cheaper to buy a vette in the USA $29000 for a 00 vert ##it with the exchange rate now at $ 1.17 I think I will export them to Canada and make some cash
Why worry about what it will be worth, you're not planning on selling it are you?
By the way, I don't live too far from Brampton myself, so chances are we might see each other driving around sometime!
Melting Slicks
Joined: Jan 2004
Posts: 2,246
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From: West Coast
In 2003 they were selling a 2003 C5 NEW car at MSRP of $51K. Then a year later (2004), they were selling NEW 2004 C5 cars at $10K BELOW MSRP ($41K).
If you bought NEW in 2003 or early 2004 and paid MSRP, you will take a BIG HIT.
If you got a chance to buy a NEW 2004 with $10K OFF MSRP, then you got a great deal, basically the dealer took the 1st year depreciation hit instead of you.
IN THE END, buying new and selling used is ALWAYS a losing propostion. Buying cars is AN EXPENSE and a DEPRECIATING VENTURE.
If you bought NEW in 2003 or early 2004 and paid MSRP, you will take a BIG HIT.
If you got a chance to buy a NEW 2004 with $10K OFF MSRP, then you got a great deal, basically the dealer took the 1st year depreciation hit instead of you.
IN THE END, buying new and selling used is ALWAYS a losing propostion. Buying cars is AN EXPENSE and a DEPRECIATING VENTURE.
Le Mans Master
Joined: Feb 2002
Posts: 5,407
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From: HONOLULU HAWAII
Anyone who buys a vette as an investment is nuts, especially the C5. Dont get me wrong, I love my Z06 but I dont really expect to hold its value in the long run. Just too many cars produced... 
Thread Starter
Pro
Joined: Jun 2004
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From: Hollywood , Atlanta Fl
I checked out a 05 vert. The dealer wants $86000 CND Don't they go for $52000 USD wow with the Canadian dollar at $.84 It's cheaper to buy in the States. $52000USD = $61000CND Whats going on here?
Le Mans Master
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From: AKA Harvey Mushman-I know just enough to be dangerous "Those who sacrifice liberty for safety deserve neither"- B. Franklin
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Cruise-In V Veteran
What's going on there? You're getting shafted. Go to www.corvetteking.com and make the short drive like I did. Saved me $8000 over the NY prices. Let me know if you do because I can colllect another $100 from them. 
Instructor
Joined: Jun 2004
Posts: 178
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From: Westville Illinois
Originally Posted by WWK888
Anyone who buys a vette as an investment is nuts, especially the C5. Dont get me wrong, I love my Z06 but I dont really expect to hold its value in the long run. Just too many cars produced...
Le Mans Master
Joined: Sep 2004
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From: Los Angeles
Don't forget that there is still a glut of new 04 C5's in dealer showrooms all around the country. Until those are all gone, we're gonna see some very aggressive selling on those which of course affects the value of ours. If they're all gone by the end of this year, I think there may be a small recovery in the spring.
Don't feel too bad because the C5's at this point are also affecting C6 sales. A lot of dealers are selling C6's at msrp or less because there are a lot of customers who are thinking the same thing we are. "Gee, I'd like to have a Vette. Should I pay $53k for a new 05 or $35K for a new 04?" $18k is a big deterrent to buying a new C6! Especially because the bulk of those new 04's out there are Z06's which are equal or better performance than the new C6.
jmho
Don't feel too bad because the C5's at this point are also affecting C6 sales. A lot of dealers are selling C6's at msrp or less because there are a lot of customers who are thinking the same thing we are. "Gee, I'd like to have a Vette. Should I pay $53k for a new 05 or $35K for a new 04?" $18k is a big deterrent to buying a new C6! Especially because the bulk of those new 04's out there are Z06's which are equal or better performance than the new C6.
jmho