2016 Zo6 VALUE
Thread Starter
5th Gear
Joined: Aug 2016
Posts: 5
Likes: 0
2016 Zo6 VALUE
Hey guys,
So I purchased a 2016 zo6 8speed zo7 package about a year ago... car has 2800 miles. MSRP was 109xxx. I've been contemplating the idea on trading in my car for a 911 GT3, and man our cars have taken a HUGE hit. Every dealer I call values my car at around 75K. That's 34K in depreciation in only one year... that's crazy. I knew the car was going to lose but not that much that fast.
Anyone else seeing this or is it just me? My car is in showroom condition.
So I purchased a 2016 zo6 8speed zo7 package about a year ago... car has 2800 miles. MSRP was 109xxx. I've been contemplating the idea on trading in my car for a 911 GT3, and man our cars have taken a HUGE hit. Every dealer I call values my car at around 75K. That's 34K in depreciation in only one year... that's crazy. I knew the car was going to lose but not that much that fast.
Anyone else seeing this or is it just me? My car is in showroom condition.
Drifting
Joined: Jul 2011
Posts: 1,860
Likes: 85
From: Graniteville South Carolina
This is common. We're seeing it even more now that Vettes can be optioned up a lot higher, past $100k territory. Problem is, many of these options get you nowhere on resale. There is a sweet spot when buying Verte variants. I think with the Z06 that sweet spot is Stage 1 1LZ or 2LZ and a few other options that keep it in the $80k range. Plus, paying msrp is never a good idea (unless you dont mind the loss)because dealers offer too many sales and rebates on Vettes and Chevy produces so many of them.
Melting Slicks
Joined: Jun 2013
Posts: 2,759
Likes: 470
From: Pittsburgh PA.
Just wait until dealers get rid of the new 16's and you will see the values going up. The market is a little crazy right now because dealers have to make room for the 17's so they are giving away the 16's and that lowers the values of the used 16's. Happens every year about this time.. Not just with GM all of them..
Racer
Joined: Jul 2005
Posts: 427
Likes: 116
From: Coral Gables Florida
Hey guys,
So I purchased a 2016 zo6 8speed zo7 package about a year ago... car has 2800 miles. MSRP was 109xxx. I've been contemplating the idea on trading in my car for a 911 GT3, and man our cars have taken a HUGE hit. Every dealer I call values my car at around 75K. That's 34K in depreciation in only one year... that's crazy. I knew the car was going to lose but not that much that fast.
Anyone else seeing this or is it just me? My car is in showroom condition.
So I purchased a 2016 zo6 8speed zo7 package about a year ago... car has 2800 miles. MSRP was 109xxx. I've been contemplating the idea on trading in my car for a 911 GT3, and man our cars have taken a HUGE hit. Every dealer I call values my car at around 75K. That's 34K in depreciation in only one year... that's crazy. I knew the car was going to lose but not that much that fast.
Anyone else seeing this or is it just me? My car is in showroom condition.
I'm sure there are a occasional exceptions for some vehicles (or very low mileage cars) but the market understands the cost of maintenance & repair associated with these vehicles can be considerable - particularly where parts can only be obtained through dealers or other retailers that have access to factory parts. The complexity of these cars also makes it difficult to find competent independent mechanics at bargain hourly rates.
Thread Starter
5th Gear
Joined: Aug 2016
Posts: 5
Likes: 0
I had a GT-R before this car, and I can tell you that it didn't lose no where near what my zo6 has lost in such a short period of time. It's alright though, I'll end up keeping this car... can't take that much of a bath on it
Thread Starter
5th Gear
Joined: Aug 2016
Posts: 5
Likes: 0
This is common. We're seeing it even more now that Vettes can be optioned up a lot higher, past $100k territory. Problem is, many of these options get you nowhere on resale. There is a sweet spot when buying Verte variants. I think with the Z06 that sweet spot is Stage 1 1LZ or 2LZ and a few other options that keep it in the $80k range. Plus, paying msrp is never a good idea (unless you dont mind the loss)because dealers offer too many sales and rebates on Vettes and Chevy produces so many of them.
Melting Slicks
Joined: Aug 2012
Posts: 3,159
Likes: 175
Porsche GT models hold their value VERY well. Like nothing I've seen. In fact, it is not worth buying a used GT2/3
Personally, I appreciate corvettes because you can buy them cheap if you are a little patient. That is not the case with Porsche.
If you buy a new corvette, you have to accept you are going to lose a lot of money. Same is true for the viper. You pay much more for Porsche GT cars but, in the end, you lose far less.
Personally, I appreciate corvettes because you can buy them cheap if you are a little patient. That is not the case with Porsche.
If you buy a new corvette, you have to accept you are going to lose a lot of money. Same is true for the viper. You pay much more for Porsche GT cars but, in the end, you lose far less.
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Safety Car
Joined: Nov 2012
Posts: 4,737
Likes: 551
From: North California
I value my '2015 in terms of personal value. The market plays a role but it's not the only factor by far.
For example, do you enjoy driving a car with warranty?
What are the costs of consumables in its employment?
What is the value of owning the car before others?
Until you price those and more you can't really come up with a net value, and that's what matters.
For example, do you enjoy driving a car with warranty?
What are the costs of consumables in its employment?
What is the value of owning the car before others?
Until you price those and more you can't really come up with a net value, and that's what matters.
Le Mans Master
Joined: Oct 2004
Posts: 6,813
Likes: 287
From: Toronto Ontario Canada
Porsche GT models hold their value VERY well. Like nothing I've seen. In fact, it is not worth buying a used GT2/3
Personally, I appreciate corvettes because you can buy them cheap if you are a little patient. That is not the case with Porsche.
If you buy a new corvette, you have to accept you are going to lose a lot of money. Same is true for the viper. You pay much more for Porsche GT cars but, in the end, you lose far less.
Personally, I appreciate corvettes because you can buy them cheap if you are a little patient. That is not the case with Porsche.
If you buy a new corvette, you have to accept you are going to lose a lot of money. Same is true for the viper. You pay much more for Porsche GT cars but, in the end, you lose far less.
Safety Car
Joined: Nov 2011
Posts: 3,555
Likes: 637
This is common. We're seeing it even more now that Vettes can be optioned up a lot higher, past $100k territory. Problem is, many of these options get you nowhere on resale. There is a sweet spot when buying Verte variants. I think with the Z06 that sweet spot is Stage 1 1LZ or 2LZ and a few other options that keep it in the $80k range. Plus, paying msrp is never a good idea (unless you dont mind the loss)because dealers offer too many sales and rebates on Vettes and Chevy produces so many of them.
Burning Brakes
Joined: Apr 2016
Posts: 865
Likes: 326
Drifting
Joined: Jul 2015
Posts: 1,681
Likes: 346
From: NY
1. You'll never make out when trading in a car to a dealer.
2. As stated, the Z while it did drop, people over paid IMO. You market yourself into a corner when people don't value some of the options which lead to the 20-40K price hike over a optimally priced Z for around 80K.
2. As stated, the Z while it did drop, people over paid IMO. You market yourself into a corner when people don't value some of the options which lead to the 20-40K price hike over a optimally priced Z for around 80K.
Instructor
Joined: Dec 2014
Posts: 217
Likes: 2
From: Las Vegas NV
Yeah imagine those folks that paid $15-20k OVER MSRP when the 15's came out!! Prices are definitely crazy right now. Hard to sale a 15 or 16 used and get good price when 16's new can be had for $20k off!