C6 Value ?
Le Mans Master
Joined: Feb 2006
Posts: 5,762
Likes: 4
From: Chandler Arizona
I think everyone has given you good advice, it just takes a little longer to sell an expensive car.
If it is heavily optioned, you will take a hit. Remember, with the GMID that almost anyone can get if they try, they can get a brand new base model for $40,500. That's a lot of car for the money. So if yours was heavily optioned, it could have had a sticker of over $55,000 and you are asking $45,000. But then the person sees that he can get a brand new one for even less money (granted it's a base). Plus, one more factor. People can get better financing on a new car.
I know of a guy here at work that paid list and just took a $7000 hit for a 2LT car that was 3 months old.
If it is heavily optioned, you will take a hit. Remember, with the GMID that almost anyone can get if they try, they can get a brand new base model for $40,500. That's a lot of car for the money. So if yours was heavily optioned, it could have had a sticker of over $55,000 and you are asking $45,000. But then the person sees that he can get a brand new one for even less money (granted it's a base). Plus, one more factor. People can get better financing on a new car.
I know of a guy here at work that paid list and just took a $7000 hit for a 2LT car that was 3 months old.
Team Owner
Joined: Dec 2003
Posts: 57,408
Likes: 164
From: queensbury ny
Ny
Wrong time of year to be selling a vette in NY.It takes time and patience to sell these.They have the best resale of any american car out there.What's in your car??how much you looking for??05??06??I sold my 01 on a site I can remember the name of right now,but it took a while.OH,and on here,you'll get a million questions on the car,but everybody wants to buy for next to nothing!!
Le Mans Master
Joined: Jul 2006
Posts: 5,894
Likes: 1
From: Farmingdale NY
St. Jude Donor '06
I agree that when most people are spending that much money on a used car, they are likely to consider spending a little extra and buying the car brand new. Not to mention that if they finance the car the interest rates on a used car loan are often higher than on a new car loan, which diminishes the savings on the used one.
Personally, I would go new and just have slightly higher monthly payments.
This is nothing new. Most people take the biggest percentage financial beating on their cars the first year. The percentage depreciation usually tapers off each year as the car gets older.
There are exceptions to the rule, but they are just that.
Personally, I would go new and just have slightly higher monthly payments.
This is nothing new. Most people take the biggest percentage financial beating on their cars the first year. The percentage depreciation usually tapers off each year as the car gets older.
There are exceptions to the rule, but they are just that.
CF Senior Member
Joined: Feb 2006
Posts: 23,313
Likes: 25
From: Tucson Arizona
This may not be to the point but I never purchase a car with resale value in-mind....I buy it to drive and enjoy. Unless the car is a total lemon (only happened once), I don't trade-in my cars every year or two....I plan on keeping them for a good while. If I thought I would be selling the car in the first year or two...I wouldn't buy a new car, I'd buy used.
We all try to get the best deal possible but I always assume a car will cost more and sell for less than I expect.
We all try to get the best deal possible but I always assume a car will cost more and sell for less than I expect.
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Burning Brakes
Joined: Aug 2004
Posts: 893
Likes: 0
From: Reno NV
Originally Posted by 4CEE
Other than location, timing, options and condition you are correct.
Premium Supporting Vendor
Joined: Nov 2003
Posts: 6,852
Likes: 123
From: www.EXOTICVETTE.com - FL Cruise-In VI, VII, & VIII
Cruise-In V Veteran
St. Jude's Donor '05-'06-'07-'08-'09-'10-'11-'12-'13-'14-'15-'16
Yea.... not the best 'season' to sell right now. Regardless of season though, I sold my 05 Coupe Z51 6spd (with an MSRP sticker of $55k) at one year old for $39k. Then I sold my 06 Z06 which I paid $78k (plus tax) for and put a few grand into for $70k in 4 months with 4k miles.... new car depreciation is always a nasty hit! The more expensive the car, the higher the $$$ hit will be. Usually it's proportionate to the value of the car. IMHO unless it's the new model that you 'have to have', hold out for 6-9 months and let someone else take the hit - you get a basically new car for a well-adjusted price 
Keep at it, you'll be surpised that sometimes it takes dropping the price from $40k to $39,900 to go from no calls to the phone's ringing off the hook!
Best of luck on your sale!
Keep at it, you'll be surpised that sometimes it takes dropping the price from $40k to $39,900 to go from no calls to the phone's ringing off the hook!
Best of luck on your sale!
Intermediate
Joined: May 2006
Posts: 31
Likes: 0
Originally Posted by 4CEE
Other than location, timing, options and condition you are correct.
Le Mans Master
Joined: Dec 2004
Posts: 5,365
Likes: 7
From: Parkland Florida
St. Jude Co-Organizer
St. Jude Donor '05-'06-'07-'08-'09-'10-'11-'12-'13-'14-'15-'16
For starters try not to offer it for sale on this board. The members here know what they cost, and are the cheapest bunch of SOB's out there!! Seriously, knowledge is power and this place ain't a good spot to sell a vette.
Perhaps cars.com, auto trader, or your local newspaper...anywhere there is less knowledge about the vette is a good starting place.
Seriously, knowledge is power and this place ain't a good spot to sell a vette.Perhaps cars.com, auto trader, or your local newspaper...anywhere there is less knowledge about the vette is a good starting place.
Le Mans Master
Joined: Feb 2006
Posts: 5,762
Likes: 4
From: Chandler Arizona
Originally Posted by Wayne O
This may not be to the point but I never purchase a car with resale value in-mind....I buy it to drive and enjoy. Unless the car is a total lemon (only happened once), I don't trade-in my cars every year or two....I plan on keeping them for a good while. If I thought I would be selling the car in the first year or two...I wouldn't buy a new car, I'd buy used.
We all try to get the best deal possible but I always assume a car will cost more and sell for less than I expect.
We all try to get the best deal possible but I always assume a car will cost more and sell for less than I expect.
Burning Brakes
Joined: Oct 2000
Posts: 1,122
Likes: 22
From: Dallas TX
Originally Posted by TripleblackZ51
Nope...It's ALL price. You simply need to come up with the right number for the given scenario. At the right price, it will sell, today. You just might not be ready to accept what the right price is.
Curious, do any of you think the roof panel issue is affecting the resale value of the 05 and 06. How about a year from now, I wonder if a used 07 be more desirable than a 06 because of the roof panel issue.
Racer
Joined: Jan 2001
Posts: 414
Likes: 0
From: Centerville Ohio
Originally Posted by TripleblackZ51
The ONLY reason a car (or anything else for that mater) doesn't sell is price.
I was in sales of one type or another for over 35 years and the one constant that I found was this very simple premise. Once you are willing (or able) to accept this fact, you will sell the item. Until that time, you will accomplish nothing and suffer much frustration.
Advanced
Joined: Sep 2006
Posts: 95
Likes: 0
From: Portland Area OR
It pays to advertise and ...
As touched upon before: only people who know you are selling can possibly buy. Expect wholesale prices unless you are willing to be a strong salesman.
A guy I work with makes crazy money flipping used cars. He knows how to find bargains and connect the cars with passionate buyers.
The resale value of the Corvette is not the problem. The Corvette is one of Kelly Blue Book's top 10 cars for resale in 2006:
http://www.kbb.com/kbb/Advice/Generi...WebContent:572
A guy I work with makes crazy money flipping used cars. He knows how to find bargains and connect the cars with passionate buyers.
The resale value of the Corvette is not the problem. The Corvette is one of Kelly Blue Book's top 10 cars for resale in 2006:
http://www.kbb.com/kbb/Advice/Generi...WebContent:572
Burning Brakes
Joined: Aug 2005
Posts: 1,009
Likes: 2
From: Arkansas
Try Craigslist. I've actually sold most of my cars at Carmax. You'll get a fair wholesale price with no hassles. They like newer cars. You'll get a quote good for one week or 300 miles. One tip, if you're going to sell do it when you get the first quote. If you go back later (6-8 weeks) they will give you a significantly lower price the second time around.
Melting Slicks
Joined: Oct 2005
Posts: 2,057
Likes: 0
I listed my 05 Z51 coupe about a year ago on some Vette sites because I wanted to sell it to buy a new Z06. The only bites I got were from dealers calling from all over the country. It was actually kind of funny because ALL of the phone calls were the same. They would pretend to be private buyers but all of the caller ID information listed names of auto dealers when they would call (i.e. "A-1 Auto Sales" or "United Auto Brokers". etc.). People are just plain dumb. How long has caller ID been around now? I would always go over the options on the car and then I'd always get the "yeah, I was just looking at the EXACT same car at a dealer up here but they were only asking $xx,xxx." I used to always end the calls with "That sounds awesome. I'd jump all over that deal if I were you!". I finally just stopped answering the calls and still enjoy the car today.