Getting close - need advice
Thread Starter
Racer
Joined: Nov 2009
Posts: 480
Likes: 5
From: san antonio Republic of Texas
Getting close - need advice
Hope everyone had a good Thanksgiving. I think Corvette owners have something special for which to be thankful. 
Had a '99 GMC Sierra, gave it to my son (he's 18, I'm sure some of you can relate) and as a result I had no trade-in. So I leased (3/36) an 07 Texas Edition. That lease is up June 2010. I owe right at $21K and am fairly certain I could sell it for at least that (difficult to get a good resale number for a TX Ed). I can either try to sell it early (smartlease or whatever it's called), or just hang onto it until lease end, but I've got this bug pretty bad and I'd really like to get my c6 as soon after the first of the year as possible. So, I will not have a trade-in on my next deal. I can afford $700/mo payments.
A friend of mine bought a new Camaro, CG/2SS/RS (nice car, GM did a lot right, like the LS3, but it ain't a Corvette!) for around $40K. I had my eye on a RJT but when I saw the 08's for about the same, well... So my target price is as close to $40K as feasible.
My preference is an 08+, 3LT, clear roof, NPP, auto (maybe). Color prefs are black/CR/AO, not necessarily in that order. I have no intention of tracking whatever I get, and I love the widebody. I know I would love a Z, but they exceed my intention. It will be a dd. I have been reading this forum almost obsessively, trying to learn as much as possible, and there are some very intelligent people with excellent, if varying, opinions on almost every topic. One question with which I'm wrestling is whether to lease new (if possible) or buy used. There seems to be some very doable deals out there and I'm very excited about making this happen. I'm leaning toward buying used, to circumvent the initial depreciation. Thanks for your opinions.
Had a '99 GMC Sierra, gave it to my son (he's 18, I'm sure some of you can relate) and as a result I had no trade-in. So I leased (3/36) an 07 Texas Edition. That lease is up June 2010. I owe right at $21K and am fairly certain I could sell it for at least that (difficult to get a good resale number for a TX Ed). I can either try to sell it early (smartlease or whatever it's called), or just hang onto it until lease end, but I've got this bug pretty bad and I'd really like to get my c6 as soon after the first of the year as possible. So, I will not have a trade-in on my next deal. I can afford $700/mo payments.
A friend of mine bought a new Camaro, CG/2SS/RS (nice car, GM did a lot right, like the LS3, but it ain't a Corvette!) for around $40K. I had my eye on a RJT but when I saw the 08's for about the same, well... So my target price is as close to $40K as feasible.
My preference is an 08+, 3LT, clear roof, NPP, auto (maybe). Color prefs are black/CR/AO, not necessarily in that order. I have no intention of tracking whatever I get, and I love the widebody. I know I would love a Z, but they exceed my intention. It will be a dd. I have been reading this forum almost obsessively, trying to learn as much as possible, and there are some very intelligent people with excellent, if varying, opinions on almost every topic. One question with which I'm wrestling is whether to lease new (if possible) or buy used. There seems to be some very doable deals out there and I'm very excited about making this happen. I'm leaning toward buying used, to circumvent the initial depreciation. Thanks for your opinions.
Last edited by Stormcrowe; Nov 29, 2009 at 10:51 PM.
Pro
Joined: Sep 2009
Posts: 515
Likes: 1
From: South of I-64 Illinois
It's my opinion that there has never been a better time to buy a new car. Buyers with money command a lot of respect, service and great deals from dealers with inventory to move. There are some really nice buys on 2009 Corvettes right now...some right at the 40k mark or slightly below.
At that price, the depreciation hit is minimal.
At that price, the depreciation hit is minimal.
Safety Car
Joined: Oct 2003
Posts: 4,024
Likes: 13
From: Loveland CO to Central Coast CA
Go to your local CarMax and see what they'll give for your truck. No hassle and they do the paperwork. Or you could probably sell it yourself and get about 10% more.
Then go find your C6!
Buying used with a $40k budget, you should find a nice selection of low-mile well-optioned well-cared-for 08's -- maybe even an 09.
And call your closest Forum dealers: https://www.corvetteforum.com/vendor/dealers.php
They sometimes get nice trade-ins or early lease returns. For instance, it might be worth the trip to test-drive this: http://www.corvettesofdallas.com/cor...od=car&id=9268
BTW, welcome to the Forum!
Le Mans Master
Joined: Feb 2008
Posts: 5,188
Likes: 4
From: S.F. Bay Area CA.
http://forums.corvetteforum.com/c6-d...s-too-low.html
1. Velocity Yellow/Ebony 1LT MN6 QX1 Z51 NPP MSRP $51,930 Sale $37,999
Credit Union(GNI) or Supplier(GSU) discount take an additonal $500 off
$37,500!!!
Don't lease, buy. Don't walk, run! You're not going to find a better deal new. For a price of $41,500 you could get 0% financing for 72 mos.
1. Velocity Yellow/Ebony 1LT MN6 QX1 Z51 NPP MSRP $51,930 Sale $37,999
Credit Union(GNI) or Supplier(GSU) discount take an additonal $500 off
$37,500!!!
Don't lease, buy. Don't walk, run! You're not going to find a better deal new. For a price of $41,500 you could get 0% financing for 72 mos.