I'm in love with my C6 but........
11-04-2011, 08:47 AM
#43
Le Mans Master
The main question will be the price of the C7. Raising the price significantly will remove "price" buyers that will settle for low mile C6's and keep those prices strong. Styling will also have some part in it...it took me two years to come around to the C6 before selling the C5 and ordering a new one.
Pricing is always tied to supply and demand. New models don't always remove the demand for the last one.........
Pricing is always tied to supply and demand. New models don't always remove the demand for the last one.........
Last edited by jimmie jam; 11-04-2011 at 08:50 AM.
11-04-2011, 08:54 AM
#44
Team Owner
I've discussed this so many times on the forum that I need to save my response and just cut and past it on these threads.
A new model does NOT make resale value drop on the old one. The reasons are very simple and sound.
When the new model comes out, all of the deep discounts on the previous car go away - meaning that late in a model cycle there are huge discounts on the new cars to keep them selling - that is what drops resale value on used cars. But when the new models come out, they are not heavily discounted for quite a while.
Lets say the Corvette lists for $60,000, but you can buy it for $50,000. How much is someone willing on paying for a two year old car if he can buy a new one for $50,000? But the new one comes out and the typical sell price is around, say $56-57,000 or so. Now how much is someone willing on spending for a two year old used car?
Also you have to remember is that regardless of what new models are out, there are always people who for whatever reason only want to spend X amount of dollars. Someone who only can or will spend $45,000 for a Corvette aren't going to decide to spend $10-15,000 more just because a new model came out. And there are always buyers who don't like the new model as well, or don't want a first year car.
The reality is that due to the higher sell prices of the new model, used prices actually may go up - not down.
A new model does NOT make resale value drop on the old one. The reasons are very simple and sound.
When the new model comes out, all of the deep discounts on the previous car go away - meaning that late in a model cycle there are huge discounts on the new cars to keep them selling - that is what drops resale value on used cars. But when the new models come out, they are not heavily discounted for quite a while.
Lets say the Corvette lists for $60,000, but you can buy it for $50,000. How much is someone willing on paying for a two year old car if he can buy a new one for $50,000? But the new one comes out and the typical sell price is around, say $56-57,000 or so. Now how much is someone willing on spending for a two year old used car?
Also you have to remember is that regardless of what new models are out, there are always people who for whatever reason only want to spend X amount of dollars. Someone who only can or will spend $45,000 for a Corvette aren't going to decide to spend $10-15,000 more just because a new model came out. And there are always buyers who don't like the new model as well, or don't want a first year car.
The reality is that due to the higher sell prices of the new model, used prices actually may go up - not down.
11-04-2011, 10:16 AM
#45
Le Mans Master
Yup! The C6 is almost outdated! It will be like the C5 is now, yesterdays toy...
That's why I laugh when people spend countless hours waxing it, babying it, worrying about it, not driving it in rain, putting it away for winter
So much effort for something that has a limited market desirability factor, and whether their C6 is in "mint" condition or an "average driver" condition it really won't matter that much when the next model yesr comes out
That's why I laugh when people spend countless hours waxing it, babying it, worrying about it, not driving it in rain, putting it away for winter
So much effort for something that has a limited market desirability factor, and whether their C6 is in "mint" condition or an "average driver" condition it really won't matter that much when the next model yesr comes out
11-04-2011, 10:55 AM
#46
Advanced
I look at it this way. 5 years from now I will own exactly the same thing - one great American sports car. Just like the housing market crash, I have the same thing after the crash - one home.
11-04-2011, 11:46 AM
#47
Burning Brakes
Similar to my thoughts. I don't know what engine will be in the C-7. If it is smaller more "efficient" type engine I don't want it. I know they can get allot of power out of smaller engines these days, but no thanks.
11-04-2011, 12:42 PM
#48
Burning Brakes
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i don't care what the values are, up, down, left, right, i paid money for the feeling i get everytime i smash the pedal to the floor and try to keep it between the lines with a giant grin on my face. 
i don't care if it's worth a dollar or less when i'm done, it is worth the price of admission...
i don't care if it's worth a dollar or less when i'm done, it is worth the price of admission...
11-04-2011, 02:17 PM
#49
So if the stock C7 engine is smaller in displacement than that 436 HP engine in the current GS, but the C7 is quicker, faster and more fuel efficient, you still don't want it? Hmmmmm. I don't see the logic.
11-04-2011, 02:59 PM
#50
Burning Brakes
Yeh, I don't use logic when I think. The way I drive the car I can't see that much of a difference in fuel economy. I really enjoy my current setup.
11-04-2011, 03:12 PM
#51
I was 50 when I bought our 2007 at the end of March and enjoy every drive I take in it. Wish I had done it sooner but who am I kidding, I couldn't afford it until I was 50...
Anyway, I've already gotten my money's worth after 12,000 miles in 7 months.
You'll recognize me by the look on my face if you see me
Anyway, I've already gotten my money's worth after 12,000 miles in 7 months.
You'll recognize me by the look on my face if you see me
11-04-2011, 03:17 PM
#52
11-04-2011, 03:18 PM
#53
Race Director
Any C7 thread always makes me chuckle because there are SO many unknowns yet. There is always a financial end to everything of course, but my passion for these cars normally out-weight being so concerned about value dropping etc (when i say financial end in this case I strictly mean worrying about resale)
I held on to my C5 until last year, it was heavily modded and I knew that would somewhat hurt the value, but I enjoyed the car so much being modded, that off-set the resale concern. I also held on to my C5 because I never cared much for hte design of the C6 base (JMO)
So in the end there are just a lot of factors. Not every Corvette owner is going to dump their C6's when the C7 comes out.. many might not like the C7 and keep the C6... who knows
To many unknowns to really sit and worry at this point.
I held on to my C5 until last year, it was heavily modded and I knew that would somewhat hurt the value, but I enjoyed the car so much being modded, that off-set the resale concern. I also held on to my C5 because I never cared much for hte design of the C6 base (JMO)
So in the end there are just a lot of factors. Not every Corvette owner is going to dump their C6's when the C7 comes out.. many might not like the C7 and keep the C6... who knows
To many unknowns to really sit and worry at this point.
11-04-2011, 04:11 PM
#54
Le Mans Master
11-04-2011, 05:04 PM
#55
Race Director
well-said.i don't care what the values are, up, down, left, right, i paid money for the feeling i get everytime i smash the pedal to the floor and try to keep it between the lines with a giant grin on my face.
i don't care if it's worth a dollar or less when i'm done, it is worth the price of admission...
i don't care if it's worth a dollar or less when i'm done, it is worth the price of admission...
EXACTLY...!
11-04-2011, 10:11 PM
#56
Melting Slicks
11-04-2011, 10:17 PM
#57
Team Owner
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St. Jude Donor '06-'07-'08-'09-'10-'11-'12-'13-'14-'15- '16-'17-‘18-‘19-'20-'21
NCM Lifetime Member
Or I may. 
11-05-2011, 05:12 AM
#58
Yup! The C6 is almost outdated! It will be like the C5 is now, yesterdays toy...
That's why I laugh when people spend countless hours waxing it, babying it, worrying about it, not driving it in rain, putting it away for winter So much effort for something that has a limited market desirability factor, and whether their C6 is in "mint" condition or an "average driver" condition it really won't matter that much when the next model yesr comes out
That's why I laugh when people spend countless hours waxing it, babying it, worrying about it, not driving it in rain, putting it away for winter
So much effort for something that has a limited market desirability factor, and whether their C6 is in "mint" condition or an "average driver" condition it really won't matter that much when the next model yesr comes out Someday I'll buy a brand new vette. But it sure wont be an early year c7.
FWIW I bought a C5 in 2007, and l know several others that bought C5's after the C6 was out. The market wont collapse. If anything the added buzz of a new model will be a positive for all corvettes resale.
11-05-2011, 05:38 AM
#59
I guess the way I look at it is as long as I can afford it, who gives a $hit if there is $50k more or less in my bank account when I die. There is a value in the great times and friends that these cars bring to my life. Not everything can be measured in dollars and cents. JMO
08-05-2012, 04:46 PM
#60
Le Mans Master
bottom line...
Look, I love the looks of my C6, but the C5 is drop dead georgous, just in a different way. Heck, there are some aspects of the C5 I like better. Bottom line, ANYTHING Corvette makes your average Americam stop and stare.
I don't think that will change anytime soon...
Bring on the C7...
I don't think that will change anytime soon...
Bring on the C7...