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C6 ZR1s are increasing in value due to the low production numbers, classic styling and world beating performance.
Sure about that? I see plenty selling at about 55% of their original MSRP.
Anyway, I find Vettes hold their value very well. A dealer offered to buy my ho-hum 14'Z51, 2LT for 50k about a month ago. Try shopping for any
year C5 convertible, now 15+ years old. They still want 20-30k for them.
Lol u think Corvette depreciation is bad? Ahha its actually quite good by normal industry standards. Im in the car business and believe me when I tell you this is a fact!
One of literally MANY examples ....Look up 2014 Mercedes E350 Sedans. New they typically range $58k-$62k ..some as high as $65-$66k but more rare
and while you're at it look up 2004 E350's and compare that to 2004 5th gen of similar miles and condition.
Last edited by NiteriderFRC; Apr 14, 2016 at 02:17 AM.
Maybe I got lucky idk. I wrecked my 1 month old 16 Vette three weeks ago. Bought it for 50k plus taxes and got 61k back. I was upside down on my trade in so I ended up only getting some back but they valued the car at 57k.
Interesting thread. If you go over to the C7s for sale section, there's a thread started where prospective buyers are complaining the C7 hasn't depreciated enough and that sellers asking prices are not realistic. Guess it depends on which end of the buy/sell spectrum you're on.
IMHO, the biggest competitors the 2016 Corvette has are the 2014 and 2015 used Vettes. As for me, I bought a 2014 in January of this year.
Yes. And virtually all cars take a huge hit in the first 1 or 2 year. Then the depreciations slows down significantly. My 14 yr old Corvette is still worth over 1/3 of the price I paid for it brand new.
It comes down to "Do you want a new car? Or are you ok w/ a used car in order to save a fair amount of money?" There is no right answer.
Yes. And virtually all cars take a huge hit in the first 1 or 2 year. Then the depreciations slows down significantly. My 14 yr old Corvette is still worth over 1/3 of the price I paid for it brand new.
It comes down to "Do you want a new car? Or are you ok w/ a used car in order to save a fair amount of money?" There is no right answer.
You have to do what is right for yourself.
A car is not like a house or a share of stock. A car's real value is in what the machine itself can do for you, not so much its monetary value.
A car's monetary value only really come into play on two occasions: when you initially purchase it and when you go to sell it or trade it.
Even then, a car's true value is as much about emotion and/or utility than it is about money.
I certainly have never bought a Corvette or any other car or truck I've owned with the monetary value of it in mind except on the two occasions where it matters (buying and selling/trading) and even then, emotion and utility (how I planned to use the vehicle) were as important as price.
Last edited by Chemdawg99; Apr 14, 2016 at 04:42 PM.
Lets talk serious depreciation - This is a 2013 SL550 -
Mileage : 20,935 Miles
This was the MSRP New
$120k!!! This thing is loaded -
Today's market 3 years later. 46% Drop! Imagine what they are in the car for before normal recon costs associated with certifying it under Mercedes Benz CPO program
And let me tell you, as a car guy this baby is undervalued - Seriously good car. Forget styling for a moment since this seems to be the weakest link on the car. Exquisite Interior, TT V8 engine, Air ride comfort and folding hardtop.
All in all, as far as a Corvette being a luxury good/fun toy ...it holds its value pretty damn well!
Last edited by NiteriderFRC; Apr 14, 2016 at 02:44 PM.
From what I can tell, cars lose roughly 15% of their value each year. A rule of thumb is a loss of 50% of value every 5 years. It seems like the first year is worse because 15% of big number is larger than 15% of a smaller number.
, it's the percentage you need to look at not the dollars.
Lets talk serious depreciation - This is a 2013 SL550 -
Mileage : 20,935 Miles
This was the MSRP New
$120k!!! This thing is loaded -
Today's market 3 years later. 46% Drop! Imagine what they are in the car for before normal recon costs associated with certifying it under Mercedes Benz CPO program
And let me tell you, as a car guy this baby is undervalued - Seriously good car. Forget styling for a moment since this seems to be the weakest link on the car. Exquisite Interior, TT V8 engine, Air ride comfort and folding hardtop.
All in all, as far as a Corvette being a luxury good/fun toy ...it holds its value pretty damn well!
A fellow Corvette owner emailed me to ask what I thought about his deal. He bought a 2015 Corvette Z06 3LZ, Z07 pkg (stickered at $113K) with less than 5k miles for 78K, from a Mercedes Benz dealer. Basically a new car for 35K off!
I'm very happy with my Z, and would not entertain trading in with a dealer, with those types of prices.
First it is 2 or 1 year NEWER ...second as one laughing person said earlier .... a front end camera plus the two toned seat option and third colors that are not available on the 2 previous years. Amazing how people shoot down things that THEY DON'T HAVE or COULDN'T GET.
It did not read like he was shooting anything down.
