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Queston about C6 Values...
Thread Starter
Team Owner
Joined: Aug 2004
Posts: 21,543
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From: Park City Utah
Queston about C6 Values...
Wondering "where I'm at" relative to what I owe vs. what my car is worth, today I called my lender and got what I owe. It was less than I thoguh, which is good. I then scanned a few listings here and decided that my car must be "worth" around $32-35. Just for yuk-yuks, I went on NADA and KBB and was shocked to see values of $39-$42k coming up! What gives? I really can't imagine that private transactions are occuring on base '06 C6's that high...it would seem that you could buy a new one for just a little more.
Please input.
-Tom
Please input.
-Tom
Race Director
Joined: Jun 2000
Posts: 13,733
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From: Hurst, TX USA
You haven't told us a lot about what you have (optionwise) and what options KBB is basing their prices on. There can be $12-$15 of options that can be added to these cars. FWIW the last time I traded I got exactly what KBB said I should get...
Also, the people on this forum are notorious penny pinchers when it comes to buying a used Vettes. I think the more "uninformed" market out there is a bit higher.
Also, the people on this forum are notorious penny pinchers when it comes to buying a used Vettes. I think the more "uninformed" market out there is a bit higher.
Last edited by BigJoe; Jan 15, 2008 at 03:56 PM.
Thread Starter
Team Owner
Joined: Aug 2004
Posts: 21,543
Likes: 3,216
From: Park City Utah
You haven't told us a lot about what you have (optionwise) and what options KBB is basing their prices on. There can be $12-$15 of options that can be added to these cars. FWIW the last time I traded I got exactly what KBB said I should get...
Also, the people on this forum are notorious penny pinchers when it comes to buying a used Vettes. I think the more "uninformed" market out there is a bit higher.
Also, the people on this forum are notorious penny pinchers when it comes to buying a used Vettes. I think the more "uninformed" market out there is a bit higher.
W/regard to your first paragragh, I didn't really want this to be a "WIW" thread. I inputed the options into KBB and NADA as accurately as their templates would allow, which means none. My car is a 12k mile, 1LT. The only options I paid for were the Z51 Package, and the Monterey Red Paint. I do have two sets of wheels (painted and polished), I installed the 6 disk indash changer, and it has a Soundstream amp and JL audio Stealthbox. None of which obviously fits into NADA or KBB's formula.-Tom
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From: Middleton WI
Le Mans Master
Joined: Aug 2000
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From: Las Vegas NV
KBB and Edmunds seem to be consistently about 10% high on trade-in value. (I'm talking ACV for the trade-in, and assuming you are not paying anywhere near 'retail' on your new car or swallowing rebates/incentives, and thus artificially inflating your trade-in's value)
Thread Starter
Team Owner
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From: Park City Utah
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Joined: Dec 2007
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From: Frederick, MD
KBB and NADA are only good for giving you an idea on what your car is worth. It all comes down to what they go for at the auction in your local market. They usually don't care about aftermarket extras.
I have no problem trading in for the dealer if the car is still worth a decent amount of $$$. The reason is that you usually get a discount on the taxes of your new car for the amount of the car that was traded in. Yes, you can still make more money private market if it sells for what you believe it is worth, willing to pay the insurance, advertising and upkeep for a month or months. Dealing with buyers usually at their convience. I much rather spend my time with my family or driving/maintaining my new car.
I have no problem trading in for the dealer if the car is still worth a decent amount of $$$. The reason is that you usually get a discount on the taxes of your new car for the amount of the car that was traded in. Yes, you can still make more money private market if it sells for what you believe it is worth, willing to pay the insurance, advertising and upkeep for a month or months. Dealing with buyers usually at their convience. I much rather spend my time with my family or driving/maintaining my new car.
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Joined: Feb 2006
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From: SC
Do this, check autotrader in your area, 50-100 miles search radius. Take note of what OTHERS are asking for 06's. Then price yours lower (for a quick sell) or somewhere in between. I've sold my last 2 previous cars that and they sold within 2 months of listing with a mid-range price. the 3000GT VR4 sold for 4-5K ABOVE KBB, the GTO sold for KBB value.
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Team Owner
Joined: Aug 2004
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From: Park City Utah
And Maintenance and up keep while it's for sale?? It's sitting in my heated garage, under a cover for the high mountian winter. There won't be too much maintenance involved if I do decide to list it.
Originally Posted by Silver06GTO
Do this, check autotrader in your area, 50-100 miles search radius. Take note of what OTHERS are asking for 06's.
Thanks!