ZR1 value depreciation
02-01-2018, 11:23 AM
#21
Team Owner
Shows the value of options drops way faster than the actual car itself. A 1lz would sell for only a couple thousand less used than the one was 30 k higher when new.
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JerriVette (02-01-2018)
02-01-2018, 01:51 PM
#22
Race Director
True it will be offered as a coupe or convertible and an automatic or manual transmission.
I still be believe the zr1 will closely follow traditional depreciation just as the c7 z06 that was valued at ~60 percent of its original transaction price in 3 years of regular use...
Last edited by JerriVette; 02-01-2018 at 01:51 PM.
02-01-2018, 03:29 PM
#23
Melting Slicks
I think that's reasonable. I bought my C6 ZR1 at 53% of original MSRP after 4 years and 15k miles.
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JerriVette (02-02-2018)
02-03-2018, 01:46 PM
#24
Le Mans Master
I know we are talking about the ZR1 depreciation in the future...however production has not even started yet. If paying MSRP continues then the ZR1 will hold it's value above the rest of the C7's. However once big discounts come the value will drop as the rest of the Corvette line up.
Talk about depreciation....A guy on YOUTUBE took his 1 month old 2018 Mustang GT Premium Coupe which was fully loaded ($51,465 MSRP) with 1000 miles on the odometer to Carmax. Carmax offered $28,000 for it!!!!!
Talk about depreciation....A guy on YOUTUBE took his 1 month old 2018 Mustang GT Premium Coupe which was fully loaded ($51,465 MSRP) with 1000 miles on the odometer to Carmax. Carmax offered $28,000 for it!!!!!
Last edited by Supersonic 427; 02-03-2018 at 01:47 PM.
02-03-2018, 02:22 PM
#25
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JerriVette (02-04-2018)
02-03-2018, 04:23 PM
#26
02-03-2018, 09:29 PM
#27
Pro
FWIW, I was at the Mercedes dealer today looking at an E63 for a bad weather daily driver.
They had a 2016 GT AMG on the floor back from a low mileage lease that had an original sticker of $144k that they sold for 112k while I was there.
They had a 2016 GT AMG on the floor back from a low mileage lease that had an original sticker of $144k that they sold for 112k while I was there.
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JerriVette (02-04-2018)
02-03-2018, 09:57 PM
#28
Le Mans Master
You can count on the c7zr1 discounts to go the way of the c6 and c4 zr1’s.
Brand new c6zr1’s with 110 to 120k sticker prices were going out the door brand new for 72 to 75k. I recall Londoff chevy sold a 110k stickered c6zr1 for 67k. Brand new,
brand new c4zr-1’s with stickers of 68k after sitting on dealer lots were going for 42 to 45k.
I see the c7zr1 going this way too.
And with the mid mid engine the c7zr1 and z06 prices Used will tank. But it is still not as bad as a tanking as a Benz , Porsche or Ferrari bought new.
Last edited by Mr. Gizmo; 02-03-2018 at 10:05 PM.
02-04-2018, 03:31 AM
#29
Race Director
Just curious....for so many here would you spend 65 to 70 grand on an average mileage 3 year old zr1 as it's clearly an amazing vehicle or would you purchase for around the same money a brand new dct equipped rear mid engine 500 hp c8 in grand sport trim.?
That would be a relatively accurate purchase decision....
(thinking the OP is considering purchasing a preowned and ultimately extremely strong performance zr1 and is asking the question)
That would be a relatively accurate purchase decision....
(thinking the OP is considering purchasing a preowned and ultimately extremely strong performance zr1 and is asking the question)
Last edited by JerriVette; 02-04-2018 at 09:06 AM.
02-04-2018, 08:35 AM
#30
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Just curious....for so many here would you spend 65 to 70 grand on a low mile 3 year old zr1 as it's clearly an amazing vehicle or would you purchase for around the same money a brand new dct equipped rear mid engine 500 hp c8 in grand sport trim.?
That would be a relatively accurate purchase decision....
(thinking the OP is considering purchasing a preowned and ultimately extremely strong performance zr1 and is asking the question)
That would be a relatively accurate purchase decision....
(thinking the OP is considering purchasing a preowned and ultimately extremely strong performance zr1 and is asking the question)
02-04-2018, 09:01 AM
#31
Race Director
With 35 k miles it might be worth 50% of sticker price or less Remember after 6 months dealers will start discounting these cars 10 to 20%. So a 140k sticker price car will be bought for 125k. So maybe 50% of net. 65k.
You can count on the c7zr1 discounts to go the way of the c6 and c4 zr1’s.
Brand new c6zr1’s with 110 to 120k sticker prices were going out the door brand new for 72 to 75k. I recall Londoff chevy sold a 110k stickered c6zr1 for 67k. Brand new,
brand new c4zr-1’s with stickers of 68k after sitting on dealer lots were going for 42 to 45k.
I see the c7zr1 going this way too.
And with the mid mid engine the c7zr1 and z06 prices Used will tank. But it is still not as bad as a tanking as a Benz , Porsche or Ferrari bought new.
What is it they say? If you have to ask you can’t afford it. A tremendous amount of truth to that statement. Just a thought. No offense to no one.
02-06-2018, 12:34 AM
#33
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That's a little over an 11% drop each year. I'd say that's not to bad. A lot of people come up with these high numbers like 20% as soon as you drive it off the lot, 50% after 3 years and really on most cars that isn't the case unless the car has an extreme amount of miles or just isn't in good condition. Some cars do drop more than others but a lot of numbers people through out are exaggerated with no real proof to back it up.
02-06-2018, 02:35 PM
#34
Melting Slicks
The C7ZR1 depreciation will depend on how limited (or not) the run is, and what the C8 has to offer, and how the C8 is priced. I am really curious to see how they price a mid engine car that is more balanced but slower (initially anyway) than the c7z(r1). Good news whether new or used, there will be something for everyone.
Last edited by bigterpsfan; 02-06-2018 at 02:37 PM.
02-07-2018, 12:57 PM
#35
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St. Jude Donor '05
brand new c4zr-1’s with stickers of 68k after sitting on dealer lots were going for 42 to 45k.
Last edited by cv67; 02-07-2018 at 01:00 PM.
02-07-2018, 04:51 PM
#36
Using the depreciation formula I stated; your car MSRP'd at $107K. 75% of that is $80K and the car is 3 model years old, so $80K(.95)= $76K (.95) = $72K (.95)= $68K and your mileage is high so it would take about a $4-5K hit. The formula works; its not gospel, but it gets you in the ballpark.
02-07-2018, 05:44 PM
#37
Pro
02-07-2018, 08:07 PM
#38
Is a 20% discount really that common?
02-07-2018, 10:09 PM
#39
Race Director
My suggestion should you be shopping is to utilize the supporting vendors of this site.
Once past the 3 rd or possibly the fourth year in a production run of every generation does seem to be offered with generous discounts.
I've been watching c4 pricing, c5 pricing, c6 pricing and even c7 pricing for many decades as I do with many sports cars.
I've always bought new...and never usually hold out for discounts higher than 10 percent myself....because my desire is too strong to wait...and money is only worth so much....but if you can hold out ...20 percent is often available...especially if you shop forum supporting vendors.
The deals the past two years have been awesome sometimes running even higher than 20 percent...
Of course pricing keeps going up so keep that in mind to the value of getting greater percentage discounts.
I know my dentist who purchased from les standford this past fall got an amazing deal on his 1LZ torch red grand sport for 56888 and he still has a smile on his face that he can't remove...
His drive back to NJ from Detroit was truly a lifetime adventure and only took him 9 hours...
Best drive home he ever had...
Once past the 3 rd or possibly the fourth year in a production run of every generation does seem to be offered with generous discounts.
I've been watching c4 pricing, c5 pricing, c6 pricing and even c7 pricing for many decades as I do with many sports cars.
I've always bought new...and never usually hold out for discounts higher than 10 percent myself....because my desire is too strong to wait...and money is only worth so much....but if you can hold out ...20 percent is often available...especially if you shop forum supporting vendors.
The deals the past two years have been awesome sometimes running even higher than 20 percent...
Of course pricing keeps going up so keep that in mind to the value of getting greater percentage discounts.
I know my dentist who purchased from les standford this past fall got an amazing deal on his 1LZ torch red grand sport for 56888 and he still has a smile on his face that he can't remove...
His drive back to NJ from Detroit was truly a lifetime adventure and only took him 9 hours...
Best drive home he ever had...
02-08-2018, 08:22 AM
#40
Melting Slicks
My suggestion should you be shopping is to utilize the supporting vendors of this site.
Once past the 3 rd or possibly the fourth year in a production run of every generation does seem to be offered with generous discounts.
I've been watching c4 pricing, c5 pricing, c6 pricing and even c7 pricing for many decades as I do with many sports cars.
I've always bought new...and never usually hold out for discounts higher than 10 percent myself....because my desire is too strong to wait...and money is only worth so much....but if you can hold out ...20 percent is often available...especially if you shop forum supporting vendors.
The deals the past two years have been awesome sometimes running even higher than 20 percent...
Of course pricing keeps going up so keep that in mind to the value of getting greater percentage discounts.
I know my dentist who purchased from les standford this past fall got an amazing deal on his 1LZ torch red grand sport for 56888 and he still has a smile on his face that he can't remove...
His drive back to NJ from Detroit was truly a lifetime adventure and only took him 9 hours...
Best drive home he ever had...
Once past the 3 rd or possibly the fourth year in a production run of every generation does seem to be offered with generous discounts.
I've been watching c4 pricing, c5 pricing, c6 pricing and even c7 pricing for many decades as I do with many sports cars.
I've always bought new...and never usually hold out for discounts higher than 10 percent myself....because my desire is too strong to wait...and money is only worth so much....but if you can hold out ...20 percent is often available...especially if you shop forum supporting vendors.
The deals the past two years have been awesome sometimes running even higher than 20 percent...
Of course pricing keeps going up so keep that in mind to the value of getting greater percentage discounts.
I know my dentist who purchased from les standford this past fall got an amazing deal on his 1LZ torch red grand sport for 56888 and he still has a smile on his face that he can't remove...
His drive back to NJ from Detroit was truly a lifetime adventure and only took him 9 hours...
Best drive home he ever had...