Can't really compare MSRP prices when you buy the car since most owners didn't pay that when they bought the car at the same time. If you did then that is your own mistake.

30% value in 15 months and higher than average miles is really not that bad especially in todays economy especially when you are not buying anything from the dealer. The dealers will only pay you the auction price which is usually below the trade in price on sites like edmonds.

Unless you can find someone to buy it from you I would just keep it while you are in Korea. It'll be a low mileage Vette then. I've been to Korea twice and sold my Mustang the first time I went. I was lucky to find a rich kid whose parents' pockets were deep. I also bought that car used so I didn't lose much and the economy was tons better then.

But put yourself in the dealer's shoes for a minute. New 09 3LT vettes can be found for high $40s right now. Brand new 08 3LTs for low to mid $30s. The 09s are one year younger, both are brand new with practically zero miles. You are saying $32k is an insulting offer but the dealer's price would probably be around $40k and end up selling it for about $36k if he sold it quick. Buying new cars and selling them quick is NEVER a good idea.

 

I worked at a dealer that sold a lot of trucks. The trades and the auction stuff often came in with a lot of crap bolted onto it. We usually removed the stuff and threw it on a pile. I cost us money for the labor to do that. Around the back of the service dept. was a pile of camper shells, running boards, mud flaps, you name it.
To a used Corvette buyer, performance mods scream "this car's been thrashed". Appearance mods, while giving you a lot of pleasure, might just look like a lot of gaudy junk to a buyer.

 

Brand new 08 3LT's low to mid 30's????

What's your source?

OP > I'm afraid Dlr and philly are right abt the 32 argument. What's keeping you from selling somewhere else? Your mileage is a killer for an 08. You'll be back in a year I hope. Let the year catch up to the miles or sell down to 35. It's going to come down to 'is it a must sell' or not.

btw: enjoy Korea. Seoul in particular was a great city to be in. So many good looking women and great food. Too bad you can't take it with you. It be you and one other american car.

 

I don't know your full situation. But, if it were me, I would keep the car. Since, Korea is a short tour. One year is not bad. Plus when you return and you have to sell.... it'll seem better in mileage as others have posted.

 

Typo, meant low to mid $40s. The keys are next to each other.

 

$32k doesn't sound too bad. It looks like you had unrealistic expectation going in.

 

Owning one of these cars under 1.5 years old is a risky, risky proposition. You are going to eat a hefty depreciation and it's going to hurt.

$32K isn't far at all from what you're likely to get if you "hold out" -- just realize that each passing month will drive that number lower & lower.

Good luck.

PS: mentioning the words MSRP & Corvette together is pretty much pointless.

 

Assuming you have the exact same options, then all we need to do is deduct for the mileage to arrive at the value of his 2008 with 17k on it. The deduction for 17k miles is about $3k, so with this method, we arrive at a value of about $39k for his 2008 with 17k miles on it.

$39k is more than what KBB shows as a Private Party sale price.

So, your purchase price actually helps drive the value of his car UP, past what KBB states as the value, not down.

If it were me, I'd actually show a prostective buyer that someone just bought a NEW 2008 with the exact same options, for $42k. This could only help in negotiating a higher price for a used 2008 with 17k miles on it.

This is not meant to denounce the purchase price of $42k for the new Corvette. That looks like a prettry fair price.

 

Rule of thumb, if the mod isn't listed in KBB or NADA, you won't get a dime more from the dealer.

Right now, dealers are offering typically LESS then auction wholesale for used cars. Isn't as painful if you are buying a new one from them cause they are discounting the hell outta those but, if you are looking to just walk away from it, you'll most likely take it in the shorts these days.

 

I actually don't think that 32k is too bad. I was expecting that they would offer you less. The market isn't too pretty for used cars right now.

I've found that KBB is way too high for trade in's.

 

Just for comparison, a Chevrolet dealer offered me (in writing, the used car mgr.) 24.5 for my 05 F55 1sb coupe with 32K on the odometer. That was actually more than I expected. I couldn't get any bites on the open market (though I didn't try real hard) at 28K.

 

If you have to get rid of it,take the money and run.It is not a bad offer from a dealer and saves you time if you tried to sell it on your own.

 

If you're trading or selling right now, be prepared to take a beating.


I think I'll be keeping my Vette whether I want to or not...but luckily, I want to!

 

I agree with these two, and note the KBB's from Talon's post, too.

Let's be reasonable; as an armed services person, the OP quite possibly can't afford to let a car sit for a year or more without using it, still paying for it via a loan, and also having to pay for safe storage. Those are kind of easy to intuit from his post.

Also the reason for stating the MSRP, while not a number most/any pay, is it gives a reference point for how the car was completely equipped if something's left out of the description. Many on CF ask for it all the time for that reason, not because we know someone who paid full list price (unless it was a ZR1)

Finally, I wouldn't be surprised at ANY number a dealer gives me, in writing or verbally. I have no idea what they want the car for, or if they even really want it at all. They also have instant access on a daily and hourly basis to the major and regional auctions, something called Galves book of prices, and their own, internal needs and requirements. That's a "code" we as outsiders will never crack, so I don't try.

Good luck and I wish you well.

 

Maybe that's his situation, but I know plenty of "armed services" individuals who can easily afford a Corvette or a similarly-priced ride. Many pay cash. It's common sense that smart finances involve how you manage your monies flow & in how careful you are in actually making an informed & reasonable car purchase.

It's no secret that even heavily-discounted 3LT & 4LT vehicles, especially the verts, suffer a tremendous depreciation hit in the first year or so. It really doesn't matter if you get $12K off sticker...you're still going to lose a ton of value. And for the people who actually pay anywhere near sticker, well,... It's all well & nice to buy brand-new, but the "bargain" cars are the 35-50% depreciated, 1-2.5 year-old low miles cars with extended warranties.

Military deployments are typically forecasted about 18-24 months in advance via a new banding system. There certainly are exceptions to this policy. The military has worked hard to give soldiers a much better timetable for planning for circumstances when they won't be home. PCSs are usually known at least 8 months in advance.

Unfortunately, based on the state of the economy, it's apparent that the greater majority of people buy things they probably shouldn't, and when life changes, there is a serious financial penalty that comes due in one way or another...

 

What tangible evidence do you have to prove this?

 

[/QUOTE]Unfortunately, based on the state of the economy, it's apparent that the greater majority of people buy things they probably shouldn't, and when life changes, there is a serious financial penalty that comes due in one way or another...[/QUOTE]

It has nothing to do with being in a financial situation that I can not afford, it is basic finance. Why make payments, storage and insurance on a car that I will not be using for 15 months. (I'm extending in Korea to ETS)

I planned to take a few thousand dollar hit, but I think 32K was too low. 35K is more in the range I'm looking for and I will try and sell it private as well.

Thanks for all of the advice from everyone.

Kevin

 

Your right I did find out about my PCS in Mar of 08. Two weeks after I bought my Corvette. Really bad timing and the the economy takes a dive. Double whammy

 

Good luck selling your car and good luck in Korea. I spent two years over there at Kunsan. Generally your car in the end will be worth the price that you and the buyer agree upon. If the buyer is one that believes new ones go for MSRP then you are in there.