Villain C5

I'm about to buy a used (2001) C5 but and wondering if i should just wait a couple of months because the introduction of C6. Will the prices drop drastically and/or quickly?

LongTimer

No one can know for sure, but my guess is that if the C6 pricing stays roughly the same as the 2004, used pricing for the '04, '03, and to a lesser degree the '02 will be adversely impacted. The C6 will offer new levels of performance. Performance is what vettes are all about. It won't matter WHAT the C6 looks like. Beyond those years condition, miliage, and equipment will determine their market value.

Hurricane

Drastically might be a bit strong, but they will most certainly continue to depreciate at an even steeper slope than before the C6 comes out. By the way, since you won't be able to get a C6 until next fall (that's a whole 'nother year away!) I wouldn't necessarily wait. A year is a long time to wait.

You could get hit by a bus tomorrow. Go buy it and enjoy it now! :thumbs:

Or you could wait two years, and the 2001s will depreciate even more, LOL. :lol:

Villain C5

Very True, thanks guys :thumbs:

Captain Morgan

If you have the money now, and you want the vette, AND you plan on keeping it regardless of what the C6 looks like or how it performs, then by all means, buy it and start enjoying it. If you think there is a possibility you'll want a C6, or maybe it wouldn't hurt to save a little more money before buying the vette, then wait. If the prices do drop, which they should drop some, then you'll basically add to your savings with a price reduction.

By the way, it won't really be a year before prices drop. The C6 will be introduced in January, even though it won't be available until late July. If people like the C6, they will be wanting to sell their C5's to make room in the stable. More C5's available means lower prices on them.

vette-freak

Just what I was going to say. BTW welcome to the forum Red Beast.


[Modified by vette-freak, 10:54 AM 10/23/2003]

Villain C5

Thanks Vette-Freak

Well I have the money now but its not like money is no object. Im 21 and am a full time student and work full time. I'll be selling my T/A to pay for some of the Vette and figure if I can get good money for my T/A now its worth it. I really love the C5's and doubt the C6 will make me regret it. I really cant see spending all my money on a new Vette when im still young and not getting help from anyone. So i have the money to pay for the Vette im looking at in cash and then (besides a few mods) i'm going to continue saving enough to start my future company.

I really appreciate the input, and apologize if this thread is alittle pointless for most people in the forum.

Thanks-
Jason

Kenny94945

Well, I thought I'd join this tread.

Wants and needs. As a dependable Vert owner with extended warranty to 2006/ 75K miles... do I want 100%...do I need 0%.

Would I take a trade in of $25K for this to get a C6...no. $35K maybe. $45K more than likely yes. Somewhere in that grid is the equalibilum of market value and actual cash value.

So I do not think a major drop will occur. The C5 are great cars and owners (at least me) will need to be enticed to sell/ trade.

It is possible that when the warranty expires or the shine grows dull, the need percentage may expand above zero percent.

vette-freak

Some food for thought. Just after Christmas, you can find vettes with great pricing because people want to pay for Christmas & are preparing for the April tax payment. Besides winter is the best time to buy a vette. Even the dealers have a ton of incentives & rebates to move cars.

Villain C5

how far into winter before prices drop?? :D

vette-freak

In Jan. after people get their W-2 for taxes, they freak are going to sell the vette anyway so they think they need to sell fast to prepare for uncle sam. I have found great deals between Jan. & Feb. In March the weather starts warming up & the "fever" starts building. Just my opinion of course.


[Modified by vette-freak, 11:31 PM 10/23/2003]

Joseph123

good pointe Vette Freak

GDP

I'm counting on it. I could afford a C5 then! That's exactly what I've been counting on for a while.

SteveJ

My guess is the big drop will be in C4 prices. There are a lot of C4 guys waiting for the big drop in C5 prices to unload their C4. I personally don't think there will be a big drop in C5 prices, but I don't know. The best deal for a C4 owner might be to order a brand new 2004 C5 just the way they want at the huge discounts out there now and sell their C4 before the big hit.

AFVETTE

I don't think so, I think we are already there. Some used C5's are selling for about the same as used C4's. I just don't believe they can go much lower.

Hell I'm seeing C4 (albeit LT4's) with asking prices over $20K.

Tom

Captain Morgan

Based on the info you provided about being a student, you might just want to wait until January or February. I think prices will be better for you at that time. Plus you'll have saved a little bit more.

Villain C5

Well there is a 2001 black m6 13kmiles and a 2000 black m6 20kmiles here in NY for $30,000 and $25,000 respectively.. I think both are good deals for the condition of each car, and i do work ALOT so i have enough for either. I know you guys aren't psychic but would you think i'll possibly find a better deal then that in January?

vette-freak

Trust me with what I posted above. The economy has not been that great this year & with 4th quarter earning estimates dropping because of the spending in the war effort in Iraq & the weak economy, you can bet that the guys with weak investments will be unloading their uneeded vettes to survive the tax man. Jan. or Feb. is the best.

DanielW

I'm in the same boat as you. I'm 19 and a full time student and also work full time. I have 23k in the bank waiting for that C5. The thing is that I really don't want to spend all of it on the purchase of a car. I only make about 12k a year. I make some extra money in the summer doing construction work and stuff but really every penny counts for me. even if I will be able to save 1k in 2 months, that's a lot to me. (my monthly income) I also need to have some cash saved up so i can pre pay for isnurance for a year and have it out of the way. I will probably look for a 98-99 6-spd coupe and try to get within 20k.

SLO VETTE

if those c6 test mules are a close approximation of the butt ugliness that shows now, my guess is the c5 will hold pretty well...