I purchased a 2016 Z06 for several reasons:

1. Value of the asset. I drove the C8s -did not like the fit or design, too much NSX, mid engine field conundrum. As the C7s closed out, a lot of public opinion appreciated this TIMELESS design, “the last of the front engine rear drivers…”
2. The true performance /$ value. This car moves very well, has a unique feel inside, and provides all the tech uses you need to drive very fast very well. Few other brands can even come close, realistically.
3. the C7 is the culmination of a long line of design evolution specific to the US. Chevy sold out to the mid engine need for racing, not an argument, just true physics.
4. Mid CV19 no one was buying used high end cars, incredibly low interest financing offers, huge selection for the discerning buyer. White most popular, red seats 21” rad rims, low miles, how could I resist? Great time to invest.

So sorry about the long intro, where do we stand today?
i think economy needs to adjust, this means interest rates hike, asset values across the board with deceases prognosticated…. Here is my question to all:
- should I cash out and sell now, values are + 20% or just hold and watch MECUM et al simply keep up with rising Special C7 values?
if I hold, do not increase wear on this 6 year old car with 17.2kmiles, keep it garaged, fully maintained, will it reach as I expect, $105k in 2024 in value?
What do you think?
i appreciate all comments,thanks- but most of all, I love the DRIVING EXPERIENCE this incredible automobile provides, that is WHY I purchased it.

 

Cars are an extremely poor investment unless you buy one and keep it in the garage for 40 years.

1) Enjoy the car
2) Store it for some far off utopian future.
3) Cash out now while the market is hot.

I'd choose #1 all day long, and #3 would be a distant second. #2....fogetaboutit.

 

I didnt buy for it to increase in price, if it does and i happen to want or need to sell it then so be it, the market will be what it will be if/when.
right now im glad i just have a vette to enjoy when i want, always wanted one for well over 20 years and having one about 14 months has been cool.
i have been able to work on it some and get back in the game, learning some more stuff, etc.. its a great car and a hobby i missed.

 

If you sell it, what are you going to replace it with? I bought my '16 Z06 right before the market went crazy and it's now worth nearly $20k more than I paid for it. That has done nothing to entice me to sell it. There is nothing on the market that can do everything that my Z06 does for the same money. I'll take the enjoyment of the car over the money in the bank. YMMV

 

Excellent advise.
Even the high collectable cars of todays (Mc F1, F40, F50 and so on) do not match the return of the S&P 500 over 20, 30 or 40 years.

Even then most people don't add inflation into the equation.
Let's say you bought new Ferrari F40 in 1987 for $400K, that's almost a $1,000,000 in today money. Current value of low mileage F40 is $2 millions, that pales in comparison with the S&P over same time period.
In short, if you invested $400K in the S&P in 1987 you would have over $13 millions inflation adjusted. Imagine if one invested that money in Microsoft instead.

 

It's not going to go for 105k in 2024. Cash out now.

 

Yup. Agreed. Its only going to go down if anything.

 

I have no desire or intention to sell my 17 WGG Z, I have owned Vettes for most of the last 44 years and this one stirs me like no other. I know the C8 is a great car but I am not a fan of mid-engine design and do not like the looks at all. Never bought to make money on resale, I own and drive to enjoy.

Good luck with whatever decision yo make.

 

no way in hell. It will be worth less in 2024. Drive it and enjoy it.

p.s. cars are not an investment.

 

Just my 2 cents: I have a 2015 Z06-07 loaded with every possible option. I purchased in 2016 with 1k miles and it now has 8k miles. I can at least break even but when i uncover the car after the winters i always love the style of this car period. Yes i would love to get the new Z06 but i can wait a year or 2 and make a decision then. With the push to battery power going forward i like to own a bit of old school even though they are really technologically advanced. They can take my gun when they pry my dead fingers off of it and i will go to battery power when they pry my cold dead fingers off the steering wheel!

 

I went thought the same progression and bought a 2016 Z06 with 4200 miles on it, thought it would be a great investment because I bought it for $62K, then I drove the car. Approximately 5 minuets into my first drive the 'great investment' thought went out the window, the car is such a pleasure to drive that I won't ever sell it. BTW that was a very good assessment of the C8.

 

Mine purchased in 2017 is worth more now then what I paid for back then!

 

that’s true for most of us. I paid $74,295 for mine. MSRP= $88,845.