As always, read all the fine print in ads.

GM Employee Price, Corvette Owner Loyalty and a GM Rebate is included at greatly discounted prices.

And "not too long ago" seems to have been in Jan., 2013, the date of the ad.

 

I have a bad habit of buying and selling used sports cars. The market is always hard to figure. The number produced however is often a indication of future value. Even then however it can be hard to track. The only weekend car I bought new was a S2000. Got it for 30k when most dealers were asking 37k. I put 12000 miles on it over 2 years and sold it for 28k. Honda only made 5000 a year however and resale cratered about 2 years later for reasons I still don't understand.
Try now to pick up a BMW Z3m coupe from 2001/02. They were selling new for 43 to 45k. Dealers had trouble giving them away. You can't touch a good low mileage one now for under 30k and many have sold for over 40. Not many were built however.
As mentioned purchase price is critical. If you bought a Vette now for say 68k at 5k over sticker verses one a year from now at 5k under sticker and then sell in 3 years for 40k it's a huge swing in retained value. The sweet spot always seems to be 2 to 3 years old. Buy right in that age range and you can enjoy the car for a few years and suffer very little loss when reselling.
One other key point. Well cared for cars will command a premium if you sell it yourself. If you trade it in not so much. Keys on resale for speciality cars include several factors. I don't touch a car unless it has no significant mods, garaged always, never smoked, no salted road use and driven by someone over 35. I have been able to own and drive a lot of great cars at a very minimal cost by buying well kept used cars. I will admit however that I am very tempted to pick up a new Vette even though I know it will cost me 20k over waiting a year or so.

 

Anyone remember how much the 2005 C6's depreciated after 1st year in 2006 on avg %??

 

I don't worry about resale. I'll let my son figure it out when he inherits it in (hopefully) 25-30 years.

 

I was talking about how it affects you. When you resell!
Not average market value! You slow today?

 

My experience with selling vettes over the last many many years: after about 4 years, the value goes down about $3K each year. I sell them myself. The trade in value will be about 3K lower and the price on the used car lot is about $3K higher.

 

Bottom line appears to be Toyota products 1, Chevrolet products 2, and then smatterings of everybody else.

 

Right, a year ago? That's not too long ago, in my book at least.

Here's a thread where we both posted, yes after GM and dealer rebates, corvette loyalty, GM Discount for all ... came to $35K. Some folks claiming they got it for that price. I am not in the market for a C6, but I keep an eye on prices just because I'm interested in all Corvettes, and if I was going to pull the trigger on a C6, this would have been the time.....

Heck here in MN they are selling 2005 Corvettes for >$30K in many instances with a moderate amount of miles. This is ridiculous for a 9-year old car with a LS2....

http://forums.corvetteforum.com/c7-g...available.html

 

Here's how it has been for me.


New 1978 SA Coupe, pd 11,500. sold in 1993 for 11,500. (30 k miles)

New 1993 40th Ruby Coupe, pd 37,000 sold in 2003 for 25,000 (27k miles)

New 2003 50th Anniv coupe pd 50,000 sold in 2008 for 35,000 (21K miles)

New 2008 3LZ VY Z06 pd 72,000 will sell in 2016 for ????

Hope the Z brings decent money so I can get a new Z

 

I have bought two new Corvette's and 5 used doing about what your saying. Some people buy them new and keep them better than new with heated storage. I get just as much or more satisfaction
with the garage queen used car.

 

IMO, Corvettes do very well in the resale value department. They remain popular and when properly taken care of, can be sold at a good price. I think the article mentioned in the OP is pretty accurate in terms of depreciation on the car.

 

Remember back in the day when you could buy a new Corvette or Harley, use it for 3 or 4 years and sell it for what you originally paid. Obviously inflation at that time had a great effect but it was fun.

 

 

Relax.

Since the thread is about the average market value, it was apparently you who had the slow day. KBB and other groups who track these things don't care how one person does on their resale.

 

I hope it does. I plan to trade my 2008 Z06 in for a C7 Z06/Z07 next spring/summer.

 

I just traded my 07'Z I had for almost 7 years, 40k miles on it and got exactly half of what I paid for it. (36k), against a C7 discounted 3k. My car and approx. 20 grand.

 

I agree, any previous generation vette without too many miles ,is going to bring $20k plus. People are right, they drop quickly ,like any car, in the first year or two, but then they stabilize and maintain pretty well from there on out. Meaning an 05 won't bring much less than an 08 with similar mileage. I just got nearly 50%, of my cost new, for a 9 year old car.

 

Corvettes do have decent resale value but it really does make me laugh when i see people trying to get $30k+ for a 2005 base model when you can find 06 Z06s for a few thousand more on the market, Hell, They where even selling 2013 Base Corvettes for high $30s for a bit so it doesnt make ANY sense. Its even worse with C5s. I see people trying to get $20k+ for base C5s when C5Z06s go for the same. C5 guys haven't really come to the realization that alot of guys cant even get $12k for their base C5 on the market.


Way too many dreamers out there in the Corvette world.

 

Hello!

 

But you have to take into account that since this car has a "following",
Someone will always pay good money for a low mileage, "like new"
or special edition (which are many) Vette. For example, a 2003 real
50th edition, (red, champagne rims, all beige interior), still brings big money. Usually 25-30k for an example with under 10k miles.