Are Dealers Trying To Drive Down C6 Prices
05-09-2013, 01:36 PM
#22
Le Mans Master
So what did the Ford dealership offer you? I guess because the 427 60th Anniversary special Edition is not even a year old yet it would be hard to figure a true value. After all, I don't think there are many being traded in already. But again, it really does not matter what the car sold for, because once it is titled and driven off the lot it loses money. Some more then others but they still lose money. So don't expect to get what to paid for it as a trade in.
05-09-2013, 01:44 PM
#23
Race Director
The C6 market hasn't settled down since the C7 arrived. Dealers are afraid the value might drop and are reluctant to offer book trade-in-value. That is my basic fear on trading up to a C7, getting a decent trade.
05-09-2013, 01:49 PM
#24
Team Owner
05-09-2013, 02:33 PM
#25
Pro
Wondering if anyone else thinks dealers are trying to drive down C6 trade in prices to hype the C7 sales? I went to a couple of Ford dealers yesterday to check on maybe trading in my 427 60th Aniversary edition for a Raptor. Because the vette is so new they had to make calls to several chevy dealers to get an idea of value.
At each ford dealership their GM told me the chevy dealers were afraid to give any type of value because they expect C7 sales to be high and with high C7 sales it would drive down the price on the C6s.
Now one reason I purchased this corvette was value retention. Based on what I am hearing right now because of the C7s I paid 95k for a limited edition car that Chevy is trying to devalue just to push its new C7 design that I thought most corvette owners didnt care for. I am saying this in jest but the Viper sure looks like a better investment based on what I have been hearing the last few days.
If this is the case and C6s are going to suffer for C7 hype ( Yes Not A Big Fan of C7 Design ) then maybe should just dump the 427 and make my next sports car purchase either a Viper or Shelby 500 Supersnake. /Rant Off...LOL
At each ford dealership their GM told me the chevy dealers were afraid to give any type of value because they expect C7 sales to be high and with high C7 sales it would drive down the price on the C6s.
Now one reason I purchased this corvette was value retention. Based on what I am hearing right now because of the C7s I paid 95k for a limited edition car that Chevy is trying to devalue just to push its new C7 design that I thought most corvette owners didnt care for. I am saying this in jest but the Viper sure looks like a better investment based on what I have been hearing the last few days.
If this is the case and C6s are going to suffer for C7 hype ( Yes Not A Big Fan of C7 Design ) then maybe should just dump the 427 and make my next sports car purchase either a Viper or Shelby 500 Supersnake. /Rant Off...LOL
From a dealer point of view it is worth what he thinks he can sell it for less the reconditioning expenses and profit he/she wants to make factoring in what he would have to pay for a similar one if available from a 3rd party source like a wholesale vehicle auction or wholesaler.. There is certainly NO CONSPIRACY to devalue a vehicle... Dealers are independent business people who's first motive is simply PROFIT...
Values can of course vary from deler to dealer based on the local markets and inventory, a dealer that has zero inventory of a particular model they sell regularly or think they can sell quickly at a good number would of course probably pay more than a dealer who has 3 similar cars sitting on their lot..
It's also a common practice for a dealer who is not sure of a value of say a 427 Vette because he may be a brand X dealer etc, to pick up the phone and call a Chevy dealer he knows to get a "buy" figure and then either resell the car to that dealer if he makes the deal or keep it if he feels he can resell it himself at a profit.. Plus in todays world there are several web services that dealers can shop the car and sell it in seconds on line...
A conspiracy to devalue C6 corvette's; no way... it's simply supply vs. demand PERIOD .....
05-09-2013, 03:00 PM
#27
Race Director
05-09-2013, 03:09 PM
#28
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The dealers just know that soon there will be a flood of C6 owners wanting to trade in for a C7. It's just supply and demand.
05-09-2013, 03:12 PM
#29
Drifting
I disagree this is not a Dodge Ram or Ford Pinto..
this was promoted as a limited edition specialty corvette. If I went out and bought a Shelby GT 500 Supersnake for 110k right now and went to sell it 6 months from now I bet I get 110k or more for it. My point is any specialty limited edition car that any dealer is selling should hold its value more than the same type model without the limited edition specialty tag.
this was promoted as a limited edition specialty corvette. If I went out and bought a Shelby GT 500 Supersnake for 110k right now and went to sell it 6 months from now I bet I get 110k or more for it. My point is any specialty limited edition car that any dealer is selling should hold its value more than the same type model without the limited edition specialty tag.
05-09-2013, 03:55 PM
#30
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As a former auto dealer I can tell you simply that your car is worth what someone ELSE will pay for it.. On a private sale your car is worth what you can get from a particular buyer.. It's your choice to sell it or not.. You can free to set any price you want, and of course the "market" will determine if its fair by generating a sale of interest in sale.. If you price a car at X and everyone calls and offers you way lower chances are your priced to high.. It's not rocket science...
From a dealer point of view it is worth what he thinks he can sell it for less the reconditioning expenses and profit he/she wants to make factoring in what he would have to pay for a similar one if available from a 3rd party source like a wholesale vehicle auction or wholesaler.. There is certainly NO CONSPIRACY to devalue a vehicle... Dealers are independent business people who's first motive is simply PROFIT...
Values can of course vary from deler to dealer based on the local markets and inventory, a dealer that has zero inventory of a particular model they sell regularly or think they can sell quickly at a good number would of course probably pay more than a dealer who has 3 similar cars sitting on their lot..
It's also a common practice for a dealer who is not sure of a value of say a 427 Vette because he may be a brand X dealer etc, to pick up the phone and call a Chevy dealer he knows to get a "buy" figure and then either resell the car to that dealer if he makes the deal or keep it if he feels he can resell it himself at a profit.. Plus in todays world there are several web services that dealers can shop the car and sell it in seconds on line...
A conspiracy to devalue C6 corvette's; no way... it's simply supply vs. demand PERIOD .....
From a dealer point of view it is worth what he thinks he can sell it for less the reconditioning expenses and profit he/she wants to make factoring in what he would have to pay for a similar one if available from a 3rd party source like a wholesale vehicle auction or wholesaler.. There is certainly NO CONSPIRACY to devalue a vehicle... Dealers are independent business people who's first motive is simply PROFIT...
Values can of course vary from deler to dealer based on the local markets and inventory, a dealer that has zero inventory of a particular model they sell regularly or think they can sell quickly at a good number would of course probably pay more than a dealer who has 3 similar cars sitting on their lot..
It's also a common practice for a dealer who is not sure of a value of say a 427 Vette because he may be a brand X dealer etc, to pick up the phone and call a Chevy dealer he knows to get a "buy" figure and then either resell the car to that dealer if he makes the deal or keep it if he feels he can resell it himself at a profit.. Plus in todays world there are several web services that dealers can shop the car and sell it in seconds on line...
A conspiracy to devalue C6 corvette's; no way... it's simply supply vs. demand PERIOD .....
Its really a moot point I guess. I bought the car thinking one thing based on press releases and marketing and it turns out to be something different. The one thing I do know is a Viper holds its value a lot better since I owned one in the past. So for now I keep the vette, dump it when not upside down and the next sports car will be a Viper or maybe a Shelby GT 500 Supersnake.
Thanks for all the input Ladies and Gents its much appreciated.
05-09-2013, 04:21 PM
#31
That was the problem the Chevy dealers didnt want to give a buy figure cause I am guessing they are affraid that if the C7s are hot sellers the C6s will lose value, then again if the C7s fail the C6s will gain in value. Lets also not forget the new emission standards coming out that will effect any new cars being produced.
05-09-2013, 05:24 PM
#32
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Well all may not be lost I think I found a dealer willing to work with this. If so I can trade in for a Raptor Roush with the 590 hp motor package. Waiting on final numbers but heres keeping my fingers crossed.
05-09-2013, 05:33 PM
#33
Maybe I missed it, but why do you want to get rid of it already?
05-09-2013, 05:52 PM
#34
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Bought a bass boat and have one other truck but wife cant drive a manual. So considering I plan on hitting the bass tournament trail its just not practical to have this car sit. Im not one to buy a nice sport car and garage it. To me that is a waste. To make up for the missed VOOM VOOM a Roush Raptor truck with a 590 in it makes up a little for that and also gives me the truck I need for traveling with the bass boat.
05-10-2013, 01:59 PM
#35
Your car maybe highly sought after in about 20-30 years when it is a classic but until then the bottom will fall out on it.
Also Raptors are nice but no way would I trade in a Vette for a slightly beefed up Ford F150. (unless you plan on a lot of off road racing)
05-10-2013, 02:01 PM
#36
05-10-2013, 02:42 PM
#37
Pro
That was the problem the Chevy dealers didnt want to give a buy figure cause I am guessing they are affraid that if the C7s are hot sellers the C6s will lose value, then again if the C7s fail the C6s will gain in value. Lets also not forget the new emission standards coming out that will effect any new cars being produced.
Its really a moot point I guess. I bought the car thinking one thing based on press releases and marketing and it turns out to be something different. The one thing I do know is a Viper holds its value a lot better since I owned one in the past. So for now I keep the vette, dump it when not upside down and the next sports car will be a Viper or maybe a Shelby GT 500 Supersnake.
Thanks for all the input Ladies and Gents its much appreciated.
Its really a moot point I guess. I bought the car thinking one thing based on press releases and marketing and it turns out to be something different. The one thing I do know is a Viper holds its value a lot better since I owned one in the past. So for now I keep the vette, dump it when not upside down and the next sports car will be a Viper or maybe a Shelby GT 500 Supersnake.
Thanks for all the input Ladies and Gents its much appreciated.
Dealers expect to turn a used vehicle in less than 60 days max knowing full well if it ages out they are going to loose as cars DEPRECIATE . I couldn't tell you why a dealer couldn't give a buy figure, other than just didn't want your car. I can tell you why you may not like the figure if you had gotten one... LOL.
Any way enjoy your Corvette while you have it, and whatever you get next.. If you bought a 427 because you thought it would somehow not depreciate much, well lesson learned... If you wanted to collect it, than don't drive it, put it away for a LONG LONG while and you may come out ahead... But cars in general are not fine wine, they do not appreciate with age...
05-10-2013, 02:48 PM
#38
Race Director
Right now you want what they have and they don't want what you have. Don't even think of MSRP on any C6. More like $10-15k or more below. I have a 60th Anniversary GS coupe. I'm not going to preach it'll hold its value more than another 13 GS coupe. Ford is smart though. They are strict with their sales and even an SHO Taurus is rare in their eyes. But serious, $77k for a truck?
Also people have to realize that the more expensive vehicle you buy the higher the $$ depreciation is. Upper level Vette owners are pissed when they lose $30-40k after 2 years. Supersnake is nice but I would never pay $110k for a Mustang.
Also people have to realize that the more expensive vehicle you buy the higher the $$ depreciation is. Upper level Vette owners are pissed when they lose $30-40k after 2 years. Supersnake is nice but I would never pay $110k for a Mustang.
05-10-2013, 03:19 PM
#39
Team Owner
They can do what they want now.I got my 15 g's off msrp on the 13 GS and decent money for the trades.I did this because I don't see myself ever liking a C7 enough to buy one.When the C8 comes out,if I like it,my car will be paid off by then.
..but all in all the natural order of things is for the C6 to go down in value the older it gets...same thing will happen with the c7 when it's time comes.And yes,the more stuff (expensive) the Vette has/is,the higher the depreciation..
..but all in all the natural order of things is for the C6 to go down in value the older it gets...same thing will happen with the c7 when it's time comes.And yes,the more stuff (expensive) the Vette has/is,the higher the depreciation..
Last edited by not08crmanymore; 05-10-2013 at 03:21 PM.
05-10-2013, 07:07 PM
#40
Le Mans Master
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You keep saying Chevy dealers wouldn't give the Ford dealer a price on your car? How do you know that is true? Maybe the Ford dealer told you that because he would rather sell his truck to somebody else without a high dollar non Ford product trade.
The manager of the Ford store didn't need to call anybody. All he had to do was look your car up on Manheim MMR and see what everyone sold for in the last 90 days at auction. I think after seeing that 427 convertibles at auction bring $75K and you are saying you paid $90+ they didn't want to tell you what your car was worth.
They could have either traded your car and taken it to Manheim Orlando and sold it or called one of many Corvette used dealers such as Roger's, H&H, The Toy Store, Naples Motorsports etc.
Next time you buy a new Vette buy it from one of the Forum dealers and you won't pay list.
The manager of the Ford store didn't need to call anybody. All he had to do was look your car up on Manheim MMR and see what everyone sold for in the last 90 days at auction. I think after seeing that 427 convertibles at auction bring $75K and you are saying you paid $90+ they didn't want to tell you what your car was worth.
They could have either traded your car and taken it to Manheim Orlando and sold it or called one of many Corvette used dealers such as Roger's, H&H, The Toy Store, Naples Motorsports etc.
Next time you buy a new Vette buy it from one of the Forum dealers and you won't pay list.