NNNInvestment

So I'm looking at pricing on the 2016 and 2017 used Z06's. There from the low to mid 70s. I then looked at the 2018 and the $91,000 sticker a dealership here in South Florida stated they would do it for 82,500. It seems that they're holding pretty good value. I'm torn if I should just order a brand-new one pay the extra 5000 or so and have an extra year warranty on top of that. Any thoughts?

h3mpking

Look at these prices.. Crazy... A low mileage Z06 for less than 70k. No brainer. They have more Z06s as well. I do not think the values are holding. Go trade one in and you will see.
https://www.vroom.com/inventory/chev...YP2D64G5607050

NNNInvestment

I'm not sure which model that is, it appears to be a 1LZ. The model I built was a 2LZ. The one positive for an 2018 is that the new plant will have state of the art technology. So some of the minor complaints that people have had in the past about paint etc. would be rectified.

SLEEKVET

Depends on options. PDR/no PDR, Auto/Manual, 1LZ/2LZ/3LZ. The used 3LZ are getting to a very good price IMO. Several new 2017's at good prices if you want new or slightly used and want the upgrades (Hood, SC cooling, colors etc..) If your shopping for a 2016, very good prices if you are trying to stay in the high $60k's or low $70k's.

NNNInvestment

I'm used to Porsche and the pricing. I have a 2014 911Turbo. I bought it with 10k miles for 117k with a 3 year CPO. The sticker was 170k. So that was a no brained. But looking at the used 2016 and 2017's the margin is a lot closer together. If I can get a brand-new 18 for 82,500 with a sticker of 92 and a used one is 70's it's a much closer margin. Decisions decisions. Lol. It seems the Z06 holds it value well and the depreciation is not bad. Like 7-8k per year. Based on a 2015 in the mid 60's.

NASTYC7

You have to remember 15's were going out the door for 90-110 K with dealer mark up.. If you think any of them are holding their value.. your crazy. Because the dealer is selling the 16 for mid 70's what do you think the owner got for it? prob high 50's or low very low 60's.

NNNInvestment

I'm only talking retail! My buddy owns an exotic car dealership in S FL and sells all my cars for retail. So it offsets the difference.

NASTYC7

Well aren't you special.. LOL maybe 1% would have that advantage. The rest of us sucka's have to take depreciation and resale hits.

I was sitting at Carmax with a friend. I watched 15 people come and go after getting their appraisal. I swear everyone thinks dealerships make a few hundred bucks on car deals.. The check prices of cars similar to theirs online and think that's what the appraisal will be close too. One guy was like.. 5K? 5K? I owe 7K on the damn thing!!! and walked out in a huff. I felt like saying.. Quit making the monthly payments and add in a few extra bucks to get ahead of the game buddy.. but I figured he was having a bad enough time swallowing the hit he just took....

NNNInvestment

The Chevy dealer by my house had a 2016 z06 that they bought for 74k and is now selling for 78k. So they are not making a ton like the Porsche dealers. The only issue with me ordering a new one is I lose my tax advantage. That is 5k.

hcvone

There are some great used buys out there, and many times you get things like the car wrapped in plastic saving the second buyer big bucks, that was my plan until I found a 17' at 20k off sticker, then the plan changed

SLEEKVET

OP - This was an expensive purchase for me and I knew I was keeping the car for a long time. I feel the features, colors, options and drivetrain would be just as important as price, so you don't penny pinch unless you want to sacrifice. You can get an awesome deal but did it check off all your boxes? That is why I waited for the 2017 instead of buying a 2016, new or used. I really wanted my color combo, 2LZ, PDR, A8. I did pay a couple grand more but am so glad I did not compromise. I'm keeping this awesome car for a long time. I could have waited a little longer but then again the next year model comes out or ZR1 appears and you'll always be chasing the price or have to compromise, unless you get lucky. Best of luck

davepl

Generally the cheapest and best way to buy cars is to get them 12-18 months old with low mileage. They take a mean depreciation hit and yet are still basically new. I've done that many times and it's by far the cheapest cost of ownership.

That's complicated by the fact that you've got some early adopters like me (who paid $105K for my car at MSRP) who have trouble pricing their used units realistically combined with deep discounts on retail new units.

If the new units are really within $5K, do that.

In 2000 I bought a 1999 BMW 750iL, their big flagship sedan. Sticker was $110K and I paid $58K with under 10k miles. That's the kind of deal I mean. Not $5K!

I'm talking 30-50% off original MSRP, and I don't think we're there yet with these cars.

NNNInvestment

I'm in total agreement with you. I bought my Porsche for 117 and sticker on it was 170.

I just can't justify spending 72 or 73,000 for a 2016 when I can order a 2018 for 82.

2017ZO6

I would buy new but it's your decision whatever makes you happy. Good luck with your decision! 😀

NNNInvestment

Believe me I'm looking to lean that way. I guess since the factory is closed I wouldn't even take delivery till after November. But it would be nice to have it built with all the new technology that the factory will have. It is interesting though that the depreciation drop is so much less than what the Porsches or any other exotic is the first two years.

SLEEKVET

Still some New 2017's at good prices

NNNInvestment

But let me ask you a question. If a 17 is within a A couple thousand from an 18, would it be true that when you go to sell the car in three years that your 17 has one more year of extra depreciation that will outweigh the savings from the initial purchase? I typically sell my car is every two year. I always expect to take a eight to $10,000 hit per year if not less. My 911 Turbo I will actually walk away with about 5 to 7000.

SLEEKVET

I'm in a different situation, I wanted to get exactly what I want and keep the car for a very long time (until I can't drive it anymore). If I traded/sell every two years, I would buy used because of the depreciation situation.
It also depends on your financial position as for some buying a 2018 and selling it in 2020 would really hurt and for others, they just don't feel it. If you can go to the 2018 and the depreciation hit feels different than the Porsche, I say go for the 2018.

NNNInvestment

If there was not an 11% discount on a new one I would totally agree with you by just going with a 17 or 16. The biggest discount on a Porsche is between 5 up to possibly 7% depending on the model. Without even trying I was at a local Chevy dealer here in Palm Beach County and I got 10% off or 2018. The guy even told me that if there's any dealer holdbacks between now and delivery date which probably wouldn't be until the end of November I will get that as well. That's what's making this a harder decision. of course the depreciation curve would be a lot less based on that and I always sell my car retail when I'm done through a friends dealership.

TB427Z06

I bought a used 2016 Laguna Blue 3LZ, exposed carbon fiber weave roof, M7 in Feb. of this year from a Porsche dealer here in Colorado Springs with 1300 miles for $78,000, almost $15K off MSRP. Had an MSRP of $92,800.00 and they were asking $84,000. I had been looking for six months for that color and even though my top offer was $75K which was refused, I later called back and we settled on $78K. I figured it would cost me upwards of two grand to have it transported from out of state and I wanted a 2016 M7 and it had to be Laguna Blue and 2016 was the last year they made that color, so I figured it was worth it to pay little more for it. In retrospect I'm glad I pulled the trigger because the 2016 laguna blue M7's have completely dryed up. In your case I'd pay a little more for the 2018 if it's optioned exactly like you want for the reasons you mentioned, newer model, warranty, convenience etc. Best of luck!