Car Dealership said my brand new 2016 Z51 worth $45k!
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cruisedog (08-19-2016)
08-19-2016, 08:46 AM
#42
Le Mans Master
I work for a GM dealership and KBB, NADA will give you a trade in value, but that value is based on you paying MSRP for a new car! So do the math, if they are taking 10k off the MSRP on the Z06, then you are going to get 10K less than what the trade in value is based on KBB and NADA. if you go to KBB and click on what KBB will buy the car for, you will see a completly different price value, thousands less than their trade in value price. Also, many people like to think their car is in excellent condition, but only 5-8% of all cars meet that, basically, show, towed cars only, if you drive your car on a public road way, it's not going to be classified as excellent condition! Maybe this sheds some light on the whole "what's my car worth thing"! Also, the auction market is the real value because if a dealership can buy a car just like yours for 45K, then why would they give you more for yours??? The reason so may new cars take such a hit when you buy and drive off the lot is the "rebate game" Anytime they rebate a new car, it kills the value of a used car in the same model. Cars that hold their value the best, are cars like Subaru's, because they do not do rebates, sure you can buy a Subaru for under sticker, but not thousands off like GM cars, and besides, Subaru's don't have lots full of left over 16's, so they don't have to rebate their cars.
Last edited by iridelow; 08-19-2016 at 08:53 AM.
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cruisedog (08-19-2016)
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cruisedog (08-19-2016)
08-19-2016, 11:28 AM
#45
Intermediate
Thread Starter
As much as i agree i should have when i bought mine i was like well i can do without plus it was like 15- 20 grand more. Now this one is being discounted because each dealer gets to sell one at 10% lower but they only have one and then of course the price jumps back up to around 88k. I didnt buy my car to make a profit but buying it at 62.5 and then 40 days later being offered 45k is a huge slap when i know they can sell it for 55k all day long. I just really didnt think my Vett would depreciate almost 20k in 40 days.
08-19-2016, 11:30 AM
#46
Intermediate
Thread Starter
Never askign retail for mine but almost 20k difference in price in almost 40 days? I was expecting maybe around 5-10 but 20??? And i was thinking on selling it outright but this is one of there dealership specials so unless i can sell mine before the end of the month and pray someone doesnt buy that one is a long shot. It can be done but i think ill just have to wait on trading up.
08-19-2016, 11:33 AM
#48
Intermediate
Thread Starter
08-19-2016, 12:03 PM
#49
Melting Slicks
FWIW carmax offered me 49K for my 6 month old at the time '16 2LT with mag ride and 5K miles a couple months ago, 71K msrp. Wasnt really looking to sell, just killing time while my wife was shopping and was curious. Granted I didnt PAY 71K for the car, paid 62K, so 49K wasnt that far off.
Dealers dont sell cars at a community service, they are in it to make money. The last thing they want on their lot is a used 2016 they will have to try to sell for nearly the same as new one. People here go nuts over 80 miles on a new Corvette, imagine a couple thousand on a used one lol.
08-19-2016, 12:15 PM
#50
Intermediate
Thread Starter
I have to admire your impeccable timing. You bought a car at the very end of the model year just as they were shutting down production of that year. A few WEEKS later to take advantage of deep discounts on a pricier model you want to flip the car and you actually expect what? They're gonna give you your money back so you can buy a Z06? Thus ain't a high-demand condo.
What I see here is an impetuous impulsive buyer who has not thought the thing through. If you had your sights set on a Z06 you had to have known the 16's would go on discount as the 17's came out. And you couldn't wait 6 or 8 weeks until that happened?
Good Lord! A fool and his money are soon parted. Take responsibility for your decision. No sympathy.
What I see here is an impetuous impulsive buyer who has not thought the thing through. If you had your sights set on a Z06 you had to have known the 16's would go on discount as the 17's came out. And you couldn't wait 6 or 8 weeks until that happened?
Good Lord! A fool and his money are soon parted. Take responsibility for your decision. No sympathy.
08-19-2016, 12:21 PM
#51
Intermediate
Thread Starter
9-12K less than what you PAID is realistic if you are buying the new car at a great price. If it was 2014 it would be a different story, cant go anywhere without tripping over used C7s these days.
FWIW carmax offered me 49K for my 6 month old at the time '16 2LT with mag ride and 5K miles a couple months ago, 71K msrp. Wasnt really looking to sell, just killing time while my wife was shopping and was curious. Granted I didnt PAY 71K for the car, paid 62K, so 49K wasnt that far off.
Dealers dont sell cars at a community service, they are in it to make money. The last thing they want on their lot is a used 2016 they will have to try to sell for nearly the same as new one. People here go nuts over 80 miles on a new Corvette, imagine a couple thousand on a used one lol.
FWIW carmax offered me 49K for my 6 month old at the time '16 2LT with mag ride and 5K miles a couple months ago, 71K msrp. Wasnt really looking to sell, just killing time while my wife was shopping and was curious. Granted I didnt PAY 71K for the car, paid 62K, so 49K wasnt that far off.
Dealers dont sell cars at a community service, they are in it to make money. The last thing they want on their lot is a used 2016 they will have to try to sell for nearly the same as new one. People here go nuts over 80 miles on a new Corvette, imagine a couple thousand on a used one lol.
I hear ya but they still offered more for yours with more miles. Just shocking to me. But i know 80 miles it alot. I just figured id lose money but not be sunk in it as much as i am as quickly.
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kp (08-19-2016)
08-19-2016, 12:37 PM
#52
Team Owner
I work for a GM dealership and KBB, NADA will give you a trade in value, but that value is based on you paying MSRP for a new car! So do the math, if they are taking 10k off the MSRP on the Z06, then you are going to get 10K less than what the trade in value is based on KBB and NADA. if you go to KBB and click on what KBB will buy the car for, you will see a completly different price value, thousands less than their trade in value price. Also, many people like to think their car is in excellent condition, but only 5-8% of all cars meet that, basically, show, towed cars only, if you drive your car on a public road way, it's not going to be classified as excellent condition! Maybe this sheds some light on the whole "what's my car worth thing"! Also, the auction market is the real value because if a dealership can buy a car just like yours for 45K, then why would they give you more for yours??? The reason so may new cars take such a hit when you buy and drive off the lot is the "rebate game" Anytime they rebate a new car, it kills the value of a used car in the same model. Cars that hold their value the best, are cars like Subaru's, because they do not do rebates, sure you can buy a Subaru for under sticker, but not thousands off like GM cars, and besides, Subaru's don't have lots full of left over 16's, so they don't have to rebate their cars.
Last edited by themonk; 08-19-2016 at 12:38 PM.
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cruisedog (08-19-2016)
08-19-2016, 12:46 PM
#53
Race Director
I agree with many of the above that Private Party sale is the way to go. Get it listed on Autotrader, cars.com and/or Craiglist at a reasonable price... It may take several weeks or so to sell (and you'll probably get a little less due to the fact that summer is almost over). But you'll get significantly more than the lowball the dealer is offering.
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cruisedog (08-19-2016)
08-19-2016, 01:01 PM
#54
Melting Slicks
Member Since: Feb 2013
Location: Central Gulf Coast Florida
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If your car is in good shape, a private sale will almost always get you more, including the sales tax issue, than a dealer will give you. A dealer does not want to buy a car at retail that he has to sell at retail.
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cruisedog (08-19-2016)
08-19-2016, 01:14 PM
#55
I work for a GM dealership and KBB, NADA will give you a trade in value, but that value is based on you paying MSRP for a new car! So do the math, if they are taking 10k off the MSRP on the Z06, then you are going to get 10K less than what the trade in value is based on KBB and NADA.
Last edited by RedC7AZ; 08-19-2016 at 01:36 PM.
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cruisedog (08-19-2016)
08-19-2016, 01:19 PM
#56
Intermediate
Thread Starter
Another dealer just offered me 58k so i might take it. and just go buy the Z06 now. Wouldn't you agree there's one thing on making a profit vs being bent over a barrel wondering what just happened haha
08-19-2016, 01:55 PM
#59
Melting Slicks
Be careful with that, they offered you 58K cash to buy your car? I wouldnt buy anything until you get the check in your hand.
Make that cleared the bank.