Corvette = great resale value?
Thread Starter
Drifting
Joined: Sep 2007
Posts: 1,348
Likes: 733
From: Oceanside Ca
Corvette = great resale value?
It seems like people like to slam Corvette's for their poor resale value. According to this article, it ranks as #5 on resale value:
http://www.fool.com/investing/genera...lue-youll.aspx
http://www.fool.com/investing/genera...lue-youll.aspx
Team Owner
Joined: Mar 2005
Posts: 20,933
Likes: 905
From: salem OR
Just have buy the right one at the right price! That determines the resale. How do you end up when you sell it! Buy over MSRP
then trade. You took a major hit. Buy under MSRP the right model.
resell by owner you can do well! lots of varibles
then trade. You took a major hit. Buy under MSRP the right model.
resell by owner you can do well! lots of varibles
Burning Brakes
Joined: May 2008
Posts: 1,146
Likes: 28
From: Aledo, TX
I saw a used C6 2005 on my dealers lot going for $26, at 9 years old I would say that car really held its value.
For consideration, I bought my 2006 M5 in 2009, the sticker on the car was $101k, I bought it for $43k with 11k miles on it. How is that for depreciation. I recently sold it for $33k with 39k miles on it, so in 8 years it lost nearly $70k in value.
For consideration, I bought my 2006 M5 in 2009, the sticker on the car was $101k, I bought it for $43k with 11k miles on it. How is that for depreciation. I recently sold it for $33k with 39k miles on it, so in 8 years it lost nearly $70k in value.
Race Director
Joined: Aug 2000
Posts: 14,860
Likes: 3
From: 96598
No better than anything else. You go and trade it in. Mercedes and BMW always
claimed great resale, go trade one in.
Corvette are not unique, tons out there. So the resale is just like any other
piece of machinery. Had traded plenty of them.
Now what a dealer will try to stick a new owner for is totally different.
Don't think the dealer will offer you even close to that if take it back.
When traded the C5 vert for the C6. Had around 8,000 miles was 5 years
old, trade was 20,000. Tried 3 dealers all the same. They put the car
back on the lot for 27,000. Volume dealers have plenty of cars, small dealers
don't want to mess with a vette.
claimed great resale, go trade one in.
Corvette are not unique, tons out there. So the resale is just like any other
piece of machinery. Had traded plenty of them.
Now what a dealer will try to stick a new owner for is totally different.
Don't think the dealer will offer you even close to that if take it back.
When traded the C5 vert for the C6. Had around 8,000 miles was 5 years
old, trade was 20,000. Tried 3 dealers all the same. They put the car
back on the lot for 27,000. Volume dealers have plenty of cars, small dealers
don't want to mess with a vette.
Last edited by texvette2; Feb 18, 2014 at 09:57 AM.
Le Mans Master
Joined: Jan 2011
Posts: 7,244
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St. Jude Donor '11-'12-'13-'14-'15-'16-'17
Buying over MSRP isn't the measure used, nor is buying at a discount. These studies take the average market value at a future point and compare it to MSRP. No more, no less.
Corvette has always fared well in recent years on holding resale value.
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Le Mans Master
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St. Jude Donor '11-'12-'13-'14-'15-'16-'17
Melting Slicks
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From: Austin Texas
NCM Sinkhole Donor
Racer
Joined: Mar 2013
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It's the dreamers in the For Sale section that think Vettes hold their value really well. They'll keep bumping their obscenely overpriced for sale threads into infinity.
Thread Starter
Drifting
Joined: Sep 2007
Posts: 1,348
Likes: 733
From: Oceanside Ca
I posted this is response to so many owners of German cars etc that brag about resale value. The fact is even if you got a better precentage of resale value, if you spend 2X as much, you might lose more overall. For example, I would prefer to lose 50% of $60K (30K loss) then 40% of $120K (48K loss).
In addition, buying a Corvette for 60K allows you to invest the money not spent on a more expensive car. Just my take on it......
In addition, buying a Corvette for 60K allows you to invest the money not spent on a more expensive car. Just my take on it......
Le Mans Master
Joined: Jan 2011
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St. Jude Donor '11-'12-'13-'14-'15-'16-'17
Maybe; maybe not. Since you don't know any facts about the particular car (model, options, miles, etc.), making an absolute statement shows you as not very knowledgeable.
Actual selling prices tell the story.
Safety Car
Joined: Feb 2011
Posts: 4,205
Likes: 21
From: Arlington VA
I wont be C7 shopping until next year at the earliest and am currently planning to pickup a 1-2 year old garage queen. Depending on incentives, there's still a good chance the C7 could be my first new car. I've always wanted that new car experience.
Pro
Joined: Jun 2009
Posts: 675
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From: North Mankato MN
Edit: Considering you could get a 2013 (base) for under $37K with incentives (some report getting in at $35K) not too long ago at some of our forum sponsors......
http://www.lesstanfordchevrolet.com/StanfordPrintAd
Last edited by Xanthophyll; Feb 18, 2014 at 06:30 PM.