Observation - Resale Value
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Joined: Jul 2007
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Observation - Resale Value
Just an observation, as soon as I get my new vette, I plan on holding on to it for some time.
I have been reading a variety of threads today, and one that caught my attention was the thread that discussed how a number of people were getting invoice - and possibly below invoice on new vettes.
This intrigued me, because I have a friend in the used car industry, and I was looking thru the prices on a number of used corvette sites - I was surprised / shocked to see how some of the cars (especially in the 2005-2006 range) had asking prices that were VERY close to what you can get a new vette for at dealer cost.
I have been reading a variety of threads today, and one that caught my attention was the thread that discussed how a number of people were getting invoice - and possibly below invoice on new vettes.
This intrigued me, because I have a friend in the used car industry, and I was looking thru the prices on a number of used corvette sites - I was surprised / shocked to see how some of the cars (especially in the 2005-2006 range) had asking prices that were VERY close to what you can get a new vette for at dealer cost.
Burning Brakes
Joined: Jul 2005
Posts: 1,174
Likes: 1
From: NOVA VA
Asking price doesnt come close to what used ones ultimately sell for. Typically, the first asking prices for used Vettes are comical they are so high..........until reality sets in for the owner.
I have seen used Vettes sitting for sale indefinately either from a private party or dealer due to high prices. When I was looking for my C6, some C5 people had some laughable prices for their cars. Its part of the reason that I ended up with a C6.
Some people just dont get it. They think that the Vette is some one-of-a kind car that will hold its value forever.....but it doesnt............. esp not when GM is making 40k units a year.
I have seen used Vettes sitting for sale indefinately either from a private party or dealer due to high prices. When I was looking for my C6, some C5 people had some laughable prices for their cars. Its part of the reason that I ended up with a C6.
Some people just dont get it. They think that the Vette is some one-of-a kind car that will hold its value forever.....but it doesnt............. esp not when GM is making 40k units a year.
Le Mans Master
Joined: Aug 2000
Posts: 6,486
Likes: 1,659
From: Las Vegas NV
Just an observation, as soon as I get my new vette, I plan on holding on to it for some time.
I have been reading a variety of threads today, and one that caught my attention was the thread that discussed how a number of people were getting invoice - and possibly below invoice on new vettes.
This intrigued me, because I have a friend in the used car industry, and I was looking thru the prices on a number of used corvette sites - I was surprised / shocked to see how some of the cars (especially in the 2005-2006 range) had asking prices that were VERY close to what you can get a new vette for at dealer cost.
I have been reading a variety of threads today, and one that caught my attention was the thread that discussed how a number of people were getting invoice - and possibly below invoice on new vettes.
This intrigued me, because I have a friend in the used car industry, and I was looking thru the prices on a number of used corvette sites - I was surprised / shocked to see how some of the cars (especially in the 2005-2006 range) had asking prices that were VERY close to what you can get a new vette for at dealer cost.
(and of course, if its a dealer, an inflated asking price gives him the ability to show Joe Buyer that while the price is high, he's giving you a FANTASTIC price on your trade-in! (at least on paper!)
Last edited by Kent1999; Jul 15, 2007 at 09:42 PM.
Pro
Joined: Aug 2006
Posts: 547
Likes: 0
From: Dayton Ohio
Asking price doesnt come close to what used ones ultimately sell for. Typically, the first asking prices for used Vettes are comical they are so high..........until reality sets in for the owner.
I have seen used Vettes sitting for sale indefinately either from a private party or dealer due to high prices. When I was looking for my C6, some C5 people had some laughable prices for their cars. Its part of the reason that I ended up with a C6.
Some people just dont get it. They think that the Vette is some one-of-a kind car that will hold its value forever.....but it doesnt............. esp not when GM is making 40k units a year.
I have seen used Vettes sitting for sale indefinately either from a private party or dealer due to high prices. When I was looking for my C6, some C5 people had some laughable prices for their cars. Its part of the reason that I ended up with a C6.
Some people just dont get it. They think that the Vette is some one-of-a kind car that will hold its value forever.....but it doesnt............. esp not when GM is making 40k units a year.
Race Director
Joined: Oct 2004
Posts: 10,089
Likes: 14
The really smart money buys a car when it is 5 years old, and keeps it for another 5 years. That's the least cost way to own a car. But someone has to buy the new ones so there will be 5 year old cars for the smart money to buy. So we should be thankful to those willing to "lose their ***" on a new car.
Last edited by shopdog; Jul 16, 2007 at 12:23 AM.
Safety Car
Joined: Jan 2007
Posts: 4,300
Likes: 6
From: San Antonio Texas
Sometime people are reluctant to go to a new car lot; they go to used car lot and will sometimes pay more for a used 2007 model passenger car than they could have bought it from the same new car dealer.
People assume a lot.
People assume a lot.
