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-   -   Keep or sell? (http://www.camaro5.com/forums/showthread.php?t=304138)

navyflyer 06-26-2013 09:43 AM

Keep or sell?
 
Hello everybody,
Need some advice. I inherited a 2002 silver Z28 35th Anniversary Edition Camaro, in excellent, borderline mint condition, 54K miles on it. I keep the car in another state to have when I stop in for work, will drive it about 1000 miles a year.
It's a shame to have it sit, covered, and used sparingly. My question to the group is, should I hold onto it, will it increase in value? or sell it and get the value out of it now? It does have sentimental value to me, hence my dilemna.
I had a 95 Camaro that sat in that state, and eventually it died, and I'd rather not see this car suffer that same fate.
Thanks for your time.

Dukeboy01 06-26-2013 09:59 AM

It probably won't increase in value, but with that little mileage being put on it, it will probably depreciate slower than a 4th gen that's driven a lot. There's nothing particularly special about a basic 2002 Camaro Z28 (and I say this as someone who owns one) that will turn it into a super collectible car at some unknown point in the future. In 2002, every other person who bought a Camaro, including the first owner of my car, thought that it was going to be the last one ever and stored it away for posterity thinking that they'd retire with the money they'd get when they sold a car that cost $25,000 new for $250,000. Then GM introduced the 5th Gen and ruined a lot of people's retirement plans. Unless it's a GMMG car or something special like that, it'll never be worth '69 COPO money.

If money's a concern, sell it now because it won't be worth anymore in the near term (defined as 1- 10 years from today) than it is today. Sure, fifty years from now, it might be more valuable, but so will every other car built in 2002 that's still on the road.

On the other hand, since you inherited it, you essentially got it for free. If you're going to still need a car to use when you come into town and you like driving it when you're there, you might as well keep it. It will serve your purposes as well as any other car.

Asanti 06-26-2013 09:04 PM

Yeah, what Duke said. Couldn't say it better.

Supercamaro64 06-27-2013 12:59 AM

Id say keep it, because Camaro.

navyflyer 06-27-2013 07:38 AM

Thanks, money's not really an issue. I just hate to see it sit so much. It is fun to drive. Appreciate the advice.

insidethreat07 06-27-2013 10:58 AM

You could sell it to me :D

RatedZ 06-27-2013 01:52 PM

Hey Navy- post up some pics and if you do decide to sell it, what are looking to get? I'm here also in FL and would be interested...

Stock6.0GTO 06-28-2013 10:06 AM

I agree with what Duke said to a point. Yes if it was a GMMG it would be worth more, but also if it were a real SS; especially an actual LE. It would be worth more than just a plain Jane z28 :(

PHXLT1 06-29-2013 12:03 AM

I say keep it. Unless you need money or its becomeing a problem but other than that why sell it. Sure it may not be a gold mine like a copo is but look at regular 69 camaros. They are big $ now. How do you think they got that way? Sure its gona take time but if its not a prob why sell. It will still be a nice car just to ride around when you can.

LIM3 06-29-2013 12:07 AM

if it means something to you than keep it. maybe try to move it to your current state and drive it a little more.

Chevyg1rl 06-29-2013 04:52 PM

Since it has sentimental value, I would keep it. IMO, the only problem you may run into with it sitting is that the seals may dry out. I ran into that with my Corvette so now I try to drive it at least once a month.

xXSilencerXx 07-05-2013 11:30 AM

Quote:

Originally Posted by rjla67 (Post 6723903)
Hey Navy- post up some pics and if you do decide to sell it, what are looking to get? I'm here also in FL and would be interested...

+1 if it's a 6 speed car I might be interested in it.


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