C-6 Depreciation
11-25-2018, 10:37 AM
#21
Depreciation !!!!.....BOULDER-DASH !!!! Who cares about depreciation unless your name is Jackson or Mecum. But I did manage to sell my rubber bumper 77 in 2010 for more than I paid for it in 1983. But of course I had done more or less a complete cosmetic restore (interior) cept for the paint so I had put more in it than I got back. But still wasn't bad for one of the least desirable Vettes. Yea the C-3's with the chrome bumpers were a hot ticket, but there is no substitute for the 63 - 67 Sting-Rays. Their look is superior to any other year Corvette, thats why there are....always have been....and always will be the most desirable Corvette ever to the purest.......
11-25-2018, 04:52 PM
#22
Le Mans Master
Member Since: Jan 2001
Location: Maryville TN
Posts: 6,087
Received 245 Likes
on
177 Posts
St. Jude Donor '06-13,'16-'17, '19
According to the popular car pricing services, my low mileage (51,000) 2006 roadster is currently losing 3% of its value monthly. Its current value is barely enough to make a down payment on a new Z06!
Tom
Tom
11-25-2018, 05:26 PM
#23
11-25-2018, 06:07 PM
#26
Race Director
And this is why you dont trust the online pricing sites for Corvettes.
11-25-2018, 08:56 PM
#29
Race Director
in all seriousness, the chrome bumper cara fo for a LOT more than the later cars. It's probably cost effective to swap a chrome front onto a 73 vs buying a 72.
11-26-2018, 08:40 AM
#30
Le Mans Master
Its all statistics and math.
More sources/ raw data the better.
Above mentioned Kelly Blue Book is "flawed" perhaps
big business swaying the numbers or location not
taken into consideration.
I think it is fair to say Vette values after 5 years (with avg. miles) is a strong 50% of MSRP.
Z06 owners offer strong opinions on the value of their cars.
I recall from auto magazines new car summaries that many cars after 5 yrs drop
into the 40/ 30% of MSRP.
After 10 years, I don't know what "book" depn is so maybe a stated value insurance
policy is a good thing?
After 25 years goes appreciation begin (look at C4) for Vettes?
Source data and a lot of samples are needed to attain a alternative depreciation schedule
from Kelly at al.
All above FWIW
More sources/ raw data the better.
Above mentioned Kelly Blue Book is "flawed" perhaps
big business swaying the numbers or location not
taken into consideration.
I think it is fair to say Vette values after 5 years (with avg. miles) is a strong 50% of MSRP.
Z06 owners offer strong opinions on the value of their cars.
I recall from auto magazines new car summaries that many cars after 5 yrs drop
into the 40/ 30% of MSRP.
After 10 years, I don't know what "book" depn is so maybe a stated value insurance
policy is a good thing?
After 25 years goes appreciation begin (look at C4) for Vettes?
Source data and a lot of samples are needed to attain a alternative depreciation schedule
from Kelly at al.
All above FWIW
11-26-2018, 09:16 AM
#31
Pro
Thread Starter
90% of cars 12 years old have very little resale value. Most are scrapped if they need a major component repair. A Corvette can still withstand a major component repair without exceeding it's value.
11-26-2018, 09:18 AM
#32
Instructor
I asked the same question before I bought mine in 2015. These numbers in the top left table came from KBB and was for a base vette with no options. I plotted then generated a rough formula to predict depreciation cost based on KBB values. I was surprised how linear it was.
11-26-2018, 10:39 AM
#33
11-26-2018, 08:10 PM
#34
Race Director
Vettes generally hold their value over the long haul as 12 year old Vettes are still desirable compared to a 12 year old grocery getter. But the first few years they drop fast. I looked at buying a new 17 about a year ago for around $19k off sticker ($66k). I looked at Edmunds value and a couple other sites and they had a used similar Vette at around $62k private party and $58k trade in. Factor in 7% sales tax and the deal doesn't look great. Price out the door would have been about $73k, immediately dumps $11k if you are lucky and keep the miles down, or almost $15k if you try to give it back to the dealer the next day.
I bought my 13 GS 1 year ago for $35k out the door price or about $31.5k price. It had 46k miles and needed some work but it is a loaded anniversary edition. I know it cost $65k plus TTL brand new because I'm the one that bought it but had to sell it 16 months later. I forgot what I traded it in for but it was ugly. Probably worth $35-40k now or more than half its value after 5 years and now 56k miles. Even a dealer offered me $31k now trying to get me to buy an 18.
I bought my 13 GS 1 year ago for $35k out the door price or about $31.5k price. It had 46k miles and needed some work but it is a loaded anniversary edition. I know it cost $65k plus TTL brand new because I'm the one that bought it but had to sell it 16 months later. I forgot what I traded it in for but it was ugly. Probably worth $35-40k now or more than half its value after 5 years and now 56k miles. Even a dealer offered me $31k now trying to get me to buy an 18.
11-27-2018, 12:29 PM
#35
Melting Slicks
there's always a market for old Corvettes for drivers and collectors. There's an existing aftermarket and collectors' vendors.
Few folks want to maintain a 10+ year old Merc, Beemer or Jag use car unless it's a pre-emissions classic.
Few folks want to maintain a 10+ year old Merc, Beemer or Jag use car unless it's a pre-emissions classic.
