ojm

What kind of hit do we take if we trade our base Corvette in after warranty over, I think after 5 years would be high on any car type.

Is there a optimal year to trade, without a killing? but as said on other posts cars are not an investment for the most part.

AeroJim

Unfortunately our Corvettes become nothing more than a used car for a trade in. After 5 years You are probably better off selling private.

phileaglesfan

You need to look at what a new base Vette is going for these days. (I've seen them down to $40k or so new)

NOMOREWORK

Last fall I was looking to trade my 2016 Stingray for a 2017 Z51 LT2 and was told all I would get on a trade was $30,000.

Red C8 of Jax

Check Black Book prices which could be below wholesale. Dealers use Black Book a lot.

brooklync5

Well that’s ridiculous! I traded my 14’ 2lt stingray in in July with 15k miles on it for $44,000 which was the mmr price (wholesale auction price) at the time. Some of these dealers really love ripping people off. Knowing the wholesale market, and finding a decent honest dealer are key when trading in your car.

ojm

thanks. btw in BC a 2018 base is around 72k , they sure pad the sticker price. 4Ok us is around 49300 canadian.

direct007

With some exceptions a 3 year old vette should fetch between 50 and 60 % of the original MSRP depending on miles and overall condition as well as if you are trading in or selling outright.

TEXHAWK0

I traded my 2004 z06 in on my 2014 and dealer gave me $25k which is book value and very close to what I think I could have gotten selling myself. Sticker price on z06 was $52k back in 2004.
Not bad for 10 year old car.
Ordered the 2014 when base price was still $51k.

Snowwolfe

It is very hard to answer a question such as "what is my car worth on trade in?"

Some people who post high trade numbers paid dearly for the new car, or maybe they paid a bunch of stupid high mark up fees on the new car. The only truth is every case is different.

direct007

Very true. I’m basing my figures on getting a fair trade or selling it outright. Personally, I would sell the car privately and purchase from a volume forum dealer outright.

One more thing. The depreciation bleeding slows to a crawl after the 5 year mark and at some point in the future the bleeding stops altogether and can even see an uptick if the miles are low.

Steve_R

Why do people get wrapped around the axle about what their car is worth on a trade? The only thing that matters is the difference; how the dealer gets there, whether giving more on trade or lowering the price of the new car, is all that matters.

ojm

true sold one for more then paid my 74 low miles

ojm

True, but often the threads are still helpfull in general.

sTz

The huge discounts on new... 20%+, early release of ‘19s, etc., inevitably will affect more recent resales. I’ve seen posts on ‘16s getting hammered, but it’s hard to predict what resale will be like 5 years from now. Typically you take the biggest hit the first year, and then a little less every year thereafter percentage wise. I’d think 5 years, with average miles and good condition, it’ll be worth 30-40% of MSRP, which would be on par with similar aged cars.

Kevin A Jones

When someone tells me how inflated a price they received for their trade, I always wonder how much extra they paid for the new car in dealer add-ons.

driver9

One tricky aspect to figuring out your trade-in value comes about when you live in a state that taxes you on the purchase price of the new car minus the trade-in value, so you're only taxed on the difference between the two. If your sales tax is 8%, a $40,000 trade-in gives you a $3200 credit against sales tax.

Bill Dearborn

I traded my 08 C6Z for my current 15Z in late November 2015. I used an employee discount to purchase the car and got no extras added to the car. I got a reasonable trade offer from the dealer (in line with what my research showed I should get) and they sold my trade in about 3 weeks after I drove away. I saw the car advertised on their web site and they had tacked $4K on top of what they paid me. I met the new owner and he told me he didn't pay asking price. I suspect he may have gotten $500 to $1500 off.

If the car is desirable dealers will keep them to sell Vs wholesaling them. My car was already 8 years old when I traded it. That is well past 5 years.

Bill

driver9

Good info.

onyx_z71

I think I traded mine at about the perfect time of new discounts and good used trade value.

I traded my 14000 mile 2014 1LT Z51 MR auto for $41,700 at the end of June 2017 when I bought my new 2017 2LT GS which I paid $7k under GM employee price for. Dealer even did a trade to get me the exact GS I wanted.

IMO it helps to build a strong relationship and loyalty to a dealer and sales staff. I've been buying from them for almost 25 years and I can't seem to do better anywhere else.