Need advice
Safety Car
Joined: Mar 2018
Posts: 4,754
Likes: 1,650
Thanks for referring to this thread/post. I just want to chime in and state that my post on C6 depreciation is a generalized statement. There are many variables and +/-'s. I don't think it would be fair to compare used C6 depreciation to a 1 or 2 year old used C7.
Yearly depreciation percentage tends to be at it's greatest early in a Corvette's life and lessens as time goes on.
Yearly depreciation percentage tends to be at it's greatest early in a Corvette's life and lessens as time goes on.
Safety Car
Joined: Mar 2018
Posts: 4,754
Likes: 1,650
Wow. I said it was a rule of thumb that I find useful. I also said generally why that is the number I use. Take it or leave it. I don't know why you seem to take it personally, get defensive, and turn it into some kind of competition. A competition that you win, of course. It's weird.
Last edited by MMD; May 8, 2018 at 04:22 PM.
Safety Car
Joined: Apr 2007
Posts: 4,546
Likes: 609
From: Southeast, WI
Burning Brakes
Joined: Jan 2016
Posts: 782
Likes: 264
From: San Diego
I don't take it personally nor do I consider it a competition to win. There seems that far too often people here will throw out numbers and opinion and have nothing to back up their claims (some times outlandish). What good is any advice if it's not based in fact? See the difference? I was just asking what is your rule of thumb based on.
Platinum Supporting Dealership
Joined: Jul 2014
Posts: 722
Likes: 336
From: Rochester New York
Fortunately we pushed our '17s and '18s out, from the start. All we have are brand new '19s and we have a use for used '17s. I think we could be pretty aggressive with the OP if he were after placing a custom order or taking one of our '19 Z06's on the lot. I think upper $50k's is realistic on a trade value, based on the information in the OP.
Safety Car
Joined: Mar 2018
Posts: 4,754
Likes: 1,650
The bad news is there are plenty of brand new 2017's, 2018's and 2019's on dealer lots. Huge discounts on left over 17's and 18's. This is not good for someone with a 2017 looking to trade out of it. The good news is 2019 production is down, allowing the market to recover, very slowly. If trying to trade with a dealer that has new '17s offered at a great discount, taking a used 2017 on trade can hurt them. I wouldn't expect a great trade value in this case.
Fortunately we pushed our '17s and '18s out, from the start. All we have are brand new '19s and we have a use for used '17s. I think we could be pretty aggressive with the OP if he were after placing a custom order or taking one of our '19 Z06's on the lot. I think upper $50k's is realistic on a trade value, based on the information in the OP.
Fortunately we pushed our '17s and '18s out, from the start. All we have are brand new '19s and we have a use for used '17s. I think we could be pretty aggressive with the OP if he were after placing a custom order or taking one of our '19 Z06's on the lot. I think upper $50k's is realistic on a trade value, based on the information in the OP.
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Drifting
Joined: Nov 2005
Posts: 1,924
Likes: 275
One thing you must remember when trading in, is that you save that amount in sales tax! That is a HUGE savings on sales tax, making up for the difference in price that youre losing. Its all how you look at it. You could sell it on your own for 60 ish, but then youre going to pay that extra 4-5k in sales tax on your new car.
Might as well do the trade and get your car and not have to hassle with anything. And come on buddy, you bought a new car, everyone knows you lose 5-10% pretty much right off the bat. That's been known for years and years. Once you blast off in the Z, youll not regret trading up one bit.
Might as well do the trade and get your car and not have to hassle with anything. And come on buddy, you bought a new car, everyone knows you lose 5-10% pretty much right off the bat. That's been known for years and years. Once you blast off in the Z, youll not regret trading up one bit.
Safety Car
Joined: Mar 2018
Posts: 4,754
Likes: 1,650
One thing you must remember when trading in, is that you save that amount in sales tax! That is a HUGE savings on sales tax, making up for the difference in price that youre losing. Its all how you look at it. You could sell it on your own for 60 ish, but then youre going to pay that extra 4-5k in sales tax on your new car.
Burning Brakes
Joined: Jan 2014
Posts: 1,109
Likes: 220
From: Colorado Springs, CO/Augusta,GA Colorado
Steve R answer was great and Nate's last post is exactly what I have said. You have a few things going against you on a trade. You may come out a little better trying a private sale. I would never buy a used 2017 if it was anywhere near what I could pay for a brand new car.
Team Owner
Joined: Sep 2010
Posts: 32,040
Likes: 4,610
One thing you must remember when trading in, is that you save that amount in sales tax! That is a HUGE savings on sales tax, making up for the difference in price that youre losing. Its all how you look at it. You could sell it on your own for 60 ish, but then youre going to pay that extra 4-5k in sales tax on your new car.
Might as well do the trade and get your car and not have to hassle with anything. And come on buddy, you bought a new car, everyone knows you lose 5-10% pretty much right off the bat. That's been known for years and years. Once you blast off in the Z, youll not regret trading up one bit.
Might as well do the trade and get your car and not have to hassle with anything. And come on buddy, you bought a new car, everyone knows you lose 5-10% pretty much right off the bat. That's been known for years and years. Once you blast off in the Z, youll not regret trading up one bit.
The trade in works exactly that way in every State I've traded cars in.
Safety Car
Joined: Mar 2018
Posts: 4,754
Likes: 1,650
You pay tax on the full amount and you do not get any credit for trade in amount. So if your final deal price is 70K and your trade in value 30K, your sales tax is still based on the 70K. What we have going for us in Virginia though is that sales tax is only 4.15%. Many other states are much greater than this. You can find this information at our DMV website here:
https://www.dmv.virginia.gov/vehicles/#sut.asp
https://www.dmv.virginia.gov/vehicles/#sut.asp
Last edited by MMD; May 8, 2018 at 06:02 PM.
Team Owner
Joined: Jun 2005
Posts: 46,295
Likes: 2,596
From: Northern, VA
St. Jude Donor '15
"In honor of jpee"
A really great thread as one can see about 3 or more ways that a used Corvette can be "priced" or valued as a trade-in, and the way dealers look at them given market conditions.