Fair value?
Thread Starter
Racer
Joined: Nov 2014
Posts: 308
Likes: 62
From: Broadview Hts Ohio
Fair value?
I have a 2015 Z-51 A8 Shark Gray LT1 (Red Interior) with 4,900 miles. MSRP was $64k. It has been stored through two winters. Local dealer will give me $48k for it (due to health reasons cannot drive), not getting another car. Does that sound fair?
Last edited by MAKC7; Nov 4, 2016 at 11:30 AM.
Tech Contributor
Joined: Oct 1999
Posts: 41,037
Likes: 9,801
From: Charlotte, NC (formerly Endicott, NY)
Did you pay MSRP? That quote is right in the middle of the trade in range based on Kelley Blue Book value. You might get an extra K out of them but that would be it. Private party sale would get you about $2K more but is it worth it to go through the hassle of trying to sell a car during the winter when demand is low. I am surprised the dealer is offering such a good price since it is likely they will have the car until March before anybody is even interested in looking at it.
Bill
Bill
E-Ray, 3LZ, ZER, LIFT
Joined: Sep 2007
Posts: 34,943
Likes: 12,358
From: NE South Carolina
If he is willing to give you that for his lot to sell it's a good deal. Selling on your own (which I am about to do) is more of a pain then it sounds. I will only take even a cashiers check if I bring it to my bank with the purchaser! Not fool proof but avoids some not wanting to do that! Also from experience, selling an '88 and '93 have to plan on it taking several months to get a buyer willing to pay top Blue Book dollar for Excellent condition.
That said put my C6 on AutoTrader and sold it in one day for essentially my askng price!
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Le Mans Master
Joined: Aug 2000
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From: Las Vegas NV
Lots of Z51's for sale right now in the $47k-$49k range, and brand new models getting $8k- $10k off sticker. Hopefully you didn't pay full retail either.
Pro
Joined: Jan 2010
Posts: 623
Likes: 148
From: SF Bay Area, Peoples' Republik of California
I think that's a fair offer. It's not a trade-in, and the used Vette market seems well populated now, so I think the dealer is being reasonable. They have to make a profit, too.
The other option is of course, a private party sale. You would probably get more, but unless you get lucky and make a private party sale quickly, the hassle of that may be considerable. I'd take a little less from the dealer than I had hoped for, to avoid the hassle of a private party sale.
Safety Car
Joined: Dec 2012
Posts: 3,841
Likes: 1,856
From: St. Louis Metro East IL
The only way to know the fair value in your area is to comparison "shop." I would get an appraisal and offer from Carmax and then take the higher offer.
Sorry you are unable to enjoy driving any longer...
Ron
Sorry you are unable to enjoy driving any longer...
Ron
Last edited by RonC7; Nov 4, 2016 at 08:23 PM. Reason: .