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C-6 Depreciation

 
Old 11-24-2018, 11:06 AM
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RobJoy
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Default C-6 Depreciation

I've been a bit curious lately about depreciation statistics of the C-6. The data I've come across reveals that like many high end cars, including the luxury cars, all cars depreciate at a high percentage in the first few years. But, then the depreciation curve takes a different course depending on the brand and model of car. I've noticed that most cars depreciate to about 45% of the MSRP at about the 6 year mark. At that point luxury cars especially, but also average sedans and family cars continue to depreciate at a rapid rate to a point of 10-12 years the car is worth very little of the initial MSRP. In fact, most are sent to the scrap yard or their value is little more than the scrapyard price. There is a different depreciation pattern for the C-6. It's depreciation levels off at the 45% mark, stabilizes, and continues to maintain a very consistent resale value on thru the 10-12 year old time period. So, want a car that maintains a good stable resale value, buy a used C-6 and keep it. Few cars maintain such a resale value as the 'Vette.
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Old 11-24-2018, 11:22 AM
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Limited production is part of it. Compare the total C6's of any given year built and the number of C6's still around. Now factor in the desireability and I you will see why the depreciation levels off.

Last edited by oemtech; 11-24-2018 at 03:13 PM.
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Old 11-24-2018, 11:35 AM
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And the general low miles put on them helps.
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Old 11-24-2018, 12:17 PM
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Originally Posted by RobJoy View Post
Few cars maintain such a resale value as the 'Vette.
I would tend to agree. My 2013 GS 2LT that I bought new had a MSRP of $64,100 and I paid $50,000. I didn't pay much tax on it as I had a trade in and paid the difference but I never include tax on the price I pay for a car because you have to pay it no matter what in most states and don't consider it part of my buying price. My car is in great shape, 26K miles. I know I could get 35K or close to it no problem. That is some serious resale valve on a a car I paid 50K for 6 years ago.

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Old 11-24-2018, 04:35 PM
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Some say the C6 will be the C3 of the modern era Corvette in regards to value and collectibility. I know that the C3's and C6's are my favorites regardless of what happens in the next forty years.
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Old 11-24-2018, 04:47 PM
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Originally Posted by Jstan2014 View Post
Some say the C6 will be the C3 of the modern era Corvette in regards to value and collectibility. I know that the C3's and C6's are my favorites regardless of what happens in the next forty years.
Seems inevitable to me, although I won't live long enough to see if it proves true or not.

Aside from a '57, the '68-'72s are the only early models I liked until the C6 came along The styling of both gens is timeless (when the C2s came out I loved them, but not so much later on).






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Old 11-24-2018, 04:48 PM
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Originally Posted by Jstan2014 View Post
Some say the C6 will be the C3 of the modern era Corvette in regards to value and collectibility. I know that the C3's and C6's are my favorites regardless of what happens in the next forty years.

Of course my opinion is biased, but I certainly agree, and I plan to keep mine couple more years!!!
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Old 11-24-2018, 05:13 PM
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Originally Posted by Bruze View Post
Seems inevitable to me, although I won't live long enough to see if it proves true or not.

Aside from a '57, the '68-'72s are the only early models I liked until the C6 came along The styling of both gens is timeless (when the C2s came out I loved them, but not so much later on).





Timeless styling is SO correct. Thatís why I just had to have both!




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Old 11-24-2018, 05:24 PM
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Originally Posted by Jstan2014 View Post
Timeless styling is SO correct. Thatís why I just had to have both!
Me too, although I sold the '72 around 1992-'93.

What year is the red?

Note: I had a blue C3 and have a red C6. You have a red C3 and a blue C6.
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Old 11-24-2018, 05:39 PM
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Originally Posted by Bruze View Post
Me too, although I sold the '72 around 1992-'93.

What year is the red?

Note: I had a blue C3 and have a red C6. You have a red C3 and a blue C6.

The red one is a '72. We just bought that one earlier this year. We had a Victory Red C6 (05) that we traded for the SSB '12 Grand Sport. Your C6 is sharp. I too may not be around to see the C6's rise to the chrome bumper status, but the kids should be here to enjoy them. I plan to keep them both. The GS only has 24.5K miles. (retired and don't really drive all that much anymore)
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Old 11-24-2018, 05:55 PM
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Originally Posted by Jstan2014 View Post
The red one is a '72. We just bought that one earlier this year. We had a Victory Red C6 (05) that we traded for the SSB '12 Grand Sport. Your C6 is sharp. I too may not be around to see the C6's rise to the chrome bumper status, but the kids should be here to enjoy them. I plan to keep them both. The GS only has 24.5K miles. (retired and don't really drive all that much anymore)
Is your '72 a base? Mine was, with auto. The paint was nice but was a POS otherwise. I got tired of working on it all the time.

My '07 has 35k miles, and is real clean. Auto, 3LT.

Wow, if I had your two to choose from each day, it would be tough!
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Old 11-24-2018, 05:58 PM
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Originally Posted by Jstan2014 View Post


Timeless styling is SO correct. Thatís why I just had to have both!




Those are two fine vettes right there, best of both worlds. Congrats.

I just bought the SSB model but would love a C3 project car, maybe when I retire and have more time to dedicate to it.
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Old 11-24-2018, 06:04 PM
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Originally Posted by Bruze View Post
Is your '72 a base? Mine was, with auto. The paint was nice but was a POS otherwise. I got tired of working on it all the time.

My '07 has 35k miles, and is real clean. Auto, 3LT.

Wow, if I had your two to choose from each day, it would be tough!
Yes, it’s a Base 350 auto with 87K miles. We also have a survivor ‘77 Z/28 that I inherited from my brother. He was the original owner. I just pick a car and go out for a drive!

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Old 11-24-2018, 06:06 PM
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Originally Posted by Carvone View Post
Those are two fine vettes right there, best of both worlds. Congrats.

I just bought the SSB model but would love a C3 project car, maybe when I retire and have more time to dedicate to it.

Thanks!!
Your GS is really clean and good looking. Congrats on that beauty!
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Old 11-24-2018, 06:29 PM
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The problem with having a Corvette is keeping the darn thing Stock, you double the investment cost buying after market parts.
The neat thing for me is that I enjoy driving my Corvette and I don't treat the car as an investment. It my "Hot Rod"!

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Old 11-24-2018, 06:37 PM
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Originally Posted by Oh Boy View Post
I would tend to agree. My 2013 GS 2LT that I bought new had a MSRP of $64,100 and I paid $50,000. I didn't pay much tax on it as I had a trade in and paid the difference but I never include tax on the price I pay for a car because you have to pay it no matter what in most states and don't consider it part of my buying price. My car is in great shape, 26K miles. I know I could get 35K or close to it no problem. That is some serious resale valve on a a car I paid 50K for 6 years ago.
Depreciation is meaningless when you plan to drive it for a lot of miles. Assuming you did sell it for $35K, it cost you $15K to drive it 26K miles, or $0.57 per mile. .Now Wayback, who posted just before you, paid about the same $50K and with 209K miles, he could scrap his or give it away and it would only cost him $0.24 per mile.
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Old 11-24-2018, 11:07 PM
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Originally Posted by HOXXOH View Post
Depreciation is meaningless when you plan to drive it for a lot of miles. Assuming you did sell it for $35K, it cost you $15K to drive it 26K miles, or $0.57 per mile. .Now Wayback, who posted just before you, paid about the same $50K and with 209K miles, he could scrap his or give it away and it would only cost him $0.24 per mile.
I totally agree with depreciation being meaningless. I also bought my C6 to drive, and I'm just shy of 100K miles on the clock. I'll never sell it, so the only way that deprivation will affect my car, is if I get into an accident.
With that many miles, the payout would be less than ideal, and be easier to total based on cost of repairs.

I didn't buy the car for resale value, so I drive it and enjoy it to the fullest. It's our road trip vehicle during the running season.
It's now in hibernation until April
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Old 11-25-2018, 09:14 AM
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I also agree that the C6 & C3 are the best looking body styles, plan on keeping a C6 in my garage for a long time
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Old 11-25-2018, 10:09 AM
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Originally Posted by 4SUMERZ View Post
I totally agree with depreciation being meaningless. I also bought my C6 to drive, and I'm just shy of 100K miles on the clock. I'll never sell it, so the only way that deprivation will affect my car, is if I get into an accident.
With that many miles, the payout would be less than ideal, and be easier to total based on cost of repairs.

I didn't buy the car for resale value, so I drive it and enjoy it to the fullest. It's our road trip vehicle during the running season.
It's now in hibernation until April
Same here. It's not something I even think about. I've never bought anything on wheels that I expected to make money on, or even to stay at a stable value. That's what stocks, bonds, real estate, etc. are for. I buy vehicles simply for pleasure or utility uses.

At any rate, I'll probably be too senile to drive in ten years, at which point my '07 will have about 60k miles on it. What will its value will be then? -- I don't know and won't care.



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Old 11-25-2018, 10:29 AM
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Yep, sure wish I had my 1970 454 back in the fold to go with my GS I have now, but at least the guy who bought it from me has kept it for the last umpteen years, it looks as good as the day I sold it to him.
NSF



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