Depreciation
Instructor
Joined: Dec 2013
Posts: 134
Likes: 30
Just got a brand new 2017 c7 Z51 for 47k, sticker was 62k
Last edited by Leonrojo; Dec 5, 2017 at 10:34 PM.
Drifting
Joined: Jun 2000
Posts: 1,872
Likes: 294
From: St. Louis MO
Pay to play, Emil. I've had M5's that depreciate like rocks. Your C7 will depreciate when we see a C8 in 2020? 2021? By then I will be in a ZR1 or Porsche 911 Turbo S.
Drifting
Joined: Jun 2000
Posts: 1,872
Likes: 294
From: St. Louis MO
People seem to be very comfortable with the idea of depreciation, and I think it's all good if you plan on keeping it for years.
I'm 25, and seem to love switching cars. For this reason, I look at buying a car that'll hold it's value for a year, or so, and switch onto the next car.
I have a friend who does this for example, and he actually profits on most cars he goes through. Whether it's a $40k Aston Martin Vantage, or $200k Rolls Royce Phantom, he's quite good at constantly earning 8-15% more than what he bought the car for. He actually stirred me away from C7 due to depreciation.
Hence, why I ask about depreciation :-)
I'm 25, and seem to love switching cars. For this reason, I look at buying a car that'll hold it's value for a year, or so, and switch onto the next car.
I have a friend who does this for example, and he actually profits on most cars he goes through. Whether it's a $40k Aston Martin Vantage, or $200k Rolls Royce Phantom, he's quite good at constantly earning 8-15% more than what he bought the car for. He actually stirred me away from C7 due to depreciation.
Hence, why I ask about depreciation :-)
P-cars hold their value best of the bunch. The only appreciating 'cars' are the super rare - Porsche GT3; Maybe a Ford GT (but it's a Ford). Meh ... kids today.
If you can't afford the bath, get out of the bathroom
Last edited by TSLAVette; Dec 5, 2017 at 10:45 PM.
Melting Slicks
Joined: Jun 2000
Posts: 3,431
Likes: 298
From: MN-C3, AZ-C7
Burning Brakes
Joined: Feb 2017
Posts: 807
Likes: 313
From: New Jersey
No amount of depreciation will subtract from the enjoyment I get from my C7. If there ever come a time when I can’t drive it, I’ll sell it for whatever the market will bear. At that point it won’t make a bit of difference.
Le Mans Master
Joined: Aug 2015
Posts: 8,243
Likes: 4,616
From: Southwest Florida
He's not being rude. He's just incredulous that you would even be asking the question, especially if you have been there before. Of course you are going to get "burned." What do you expect anyone here to say? That you won't? Since the C8 is only at the rumor stage, it's fairly pointless to worry about it at this stage. Depreciation of vehicles has been a fact of life for over 100 years now. I think we really ought to have it down. Personally, I couldn't care less. I'm just so happy driving my car around that it puts a smile on my face just thinking about it. But if the 'Lectric Vette comes around in a few years: Cool! Sign me up!
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Team Owner
Joined: Apr 2013
Posts: 26,225
Likes: 4,350
From: Chirper Island
It's going to depreciate whether you drive it or not.
Obviously I'm in the drive it camp. I love my potential grandkids, but I'm not willing to buy a car and park it just so they have to spend mega bucks getting the barn stink out of it.
Obviously I'm in the drive it camp. I love my potential grandkids, but I'm not willing to buy a car and park it just so they have to spend mega bucks getting the barn stink out of it.
Melting Slicks
Joined: Dec 2014
Posts: 2,345
Likes: 442
From: Jupiter FL
Le Mans Master
Joined: Aug 2000
Posts: 6,486
Likes: 1,659
From: Las Vegas NV
Honestly, what adult does NOT know that paying MSRP (or above!) is a money-losing proposition for any regular production american car? Anyone? Anyone?
Pro
Joined: Dec 2012
Posts: 642
Likes: 144
From: Chandler AZ
Depreciation for the C7 almost seems to be double-declining balance based depreciation, but in reverse order. Previous model year Vettes, especially the C6, is a good representation of how I think the C7 will be valued over the next 10 years.
Thread Starter
Instructor
Joined: Jul 2017
Posts: 137
Likes: 23
Thread Starter
Instructor
Joined: Jul 2017
Posts: 137
Likes: 23
Are you going to keep it for 30 years?
I've had enough cars to know, no matter how special it is, you'll get bored eventually.
It's a super competitive industry, and cars are not improved a little bit each year, but rather drastically :-)
I've had enough cars to know, no matter how special it is, you'll get bored eventually.
It's a super competitive industry, and cars are not improved a little bit each year, but rather drastically :-)
Thread Starter
Instructor
Joined: Jul 2017
Posts: 137
Likes: 23
I don't know about you, but I'd pay a little more, buy a Ferrari, and end up being able to say that it cost me the same as a Corvette would, after depreciation.