Camaro Depreciation?

[drewsky]

Heya Folks,
I'm still a newbie Camaro owner and have been loving every second. Anyway, I had an observation and I wonder if anyone has noticed the same thing.

So when I was shopping around for my car I originally wanted to buy used so as to save several $k on an already-depreciated Camaro. Trouble was, I couldn't find a used one cheap enough to warrant buying used. For example, I found a 2011 with about 15,000 miles on it that cost only about $2k less than the 2013 model (WITH all the GM discounts, not MSRP obviously) I ended up buying brand new. Almost all the used models I found had only depreciated a couple $k - which is extremely rare with American made cars. Typically you can find a used car maybe 1-2 years old for a significantly lower price. So, do Camaros depreciate slower than most vehicles? Which leads me to my next question:

I'm of the general opinion that the Camaro is one of the best-engineered and crafted (in terms of style, performance, etc..,) vehicles in the class, ever. It competes with the 69 bumblebee, and I think it's an instant classic. Now that they've started moving away from the 2010-2013 body-style with the 2014s, and plans are underway to deviate even further in 2016, I wonder if our cars will end up appreciating in value. In other words, 5-10 years from now will these cars actually be worth more than what we paid for them? Granted I don't care and will love and continue to drive mine either way, but what do you all think? Oh and if my theory proves correct, it would behoove all of us to save our stock interior/exterior items in the garage somewhere, as we continue to mod. Thoughts?

[nyrfan]

These are mass produced cars, they will NOT appreciate in value. Unless it's a COPA or Z28, then there is a chance.

[red70tvhs]

Ive been shopping around lately, checking prices on used SS models. Deals can be found for under 30k on fully loaded 2ss models with under 10k miles. I think these cars depreciation, if anything is speeding up. But that's the market for ya, cant ever predict anything.

[drewsky]

You may be right - and I'm sure markets fluctuate based on area; I'm in the DC area and it proved pretty difficult to find a used LS for much less than a new one with discounts.

I don't think mass production alone will prevent these cars from appreciating; after all, mass production has been around since Henry Ford pioneered it like a hundred years ago. However, it is certainly a factor and I think my 5-10 year estimate was probably unrealistic. I wouldn't be surprised though if these cars end up being sought after as collectables much earlier than most antique/classic cars - maybe at the 15-20 year mark vs. the 30-40 year mark we currently see in the industry.

[red70tvhs]

Im not going to hold my breath on any of that, Im going to see my purchase as a Camaro as an Investment in myself, the quality of my life and my happiness. Not for any hope that may be in the back of my head of it appreciating into something worth more than what it is. It would be nice for say a 25k car purchase today to Net around 50k in my pocket in 30 or 40 years, but Im not going to bank on that, not with the Camaros.

[AztecCamaro]

I sure hope they appreciate. That's what I'm hopin for with my Dusk edition. Do you guys think it will happen with my car being one of 24?

As far a depreciation goes, the best way to fight it is to buy as close to invoice as possible and keep it well maintained. A major part of depreciation is the premium you pay over the invoice price.

[kevinw]

i buy the car to drive. cars are depreciable assets for the most part. you see 69 and 70 chevell SS 454, 71, 72 454, camaro 396, etc. all going for hwy robbery at barrett jackson, etc. but, you all wanting to wait 40 yrs for car to maybe go up?? i may not be around by then, or if i am around, wont give a hoot. these cars are massed produced, not hand built, and there are many out there for the most part, so i would count on depreciateion for the most part, buy the car to drive, not as an investment. if you want to invest, buy good real estate, or good mutual funds/stocks. IMO

[upflying]

Originally Posted by AztecCamaro

I sure hope they appreciate. That's what I'm hopin for with my Dusk edition. Do you guys think it will happen with my car being one of 24?

As far a depreciation goes, the best way to fight it is to buy as close to invoice as possible and keep it well maintained. A major part of depreciation is the premium you pay over the invoice price.

Your Dusk edition will appreciate if you hold on to it for 25 years.

[Mr. iNCREDIBLE]

Originally Posted by nyrfan

These are mass produced cars, they will NOT appreciate in value.

true, however they do depreciate slower than some other vehicles because they are not sold in fleet to rental car companies and businesses.

one of the biggest factors in the depreciation of vehicles is fleet sales, the more vehicles (especially the entry level base models) in rental fleets the faster they depreciate.

while there are some, there are not nearly as many as say Chrysler 300s, Chargers, Cruze's, Impalas, Malibu's, etc.

90,000 Camaros of the same year on the the road = more value per vehicle than 300,000....

[Camaro_Firebird]

I bought my 2010 SS/RS M6 for $26K from a dealer with 19K miles ($28K with the 100K warranty). It gets over 19 mpg and is a blast to drive. Regarding these cars appreciating, technology will advance in 15 years and the electric engines will probably make these dinosaurs, so thinking the car is an investment probably isn't wise.

I have two 69 Firebird 350HO convertibles. By the time the cars are finished (both need body work) I would do well to break even, so they aren't good investments. After driving my 2010, it has air bags, everything works, and it's much faster than the 69's.

Bang for buck, if you buy a car and it only depreciates a few thousand dollars a year, you've won. Because the cars are desirable, they're much easier to sell than a plain Jane commuter.

If you love to mod your car, don't expect the mods to increase the value, but rather decrease it. I've been modding cars since I bought my first GTO in 1978, so I get the personalized touch that makes you car unique, but modding the engine will make it more unreliable. If you disagree, you may be right, but I'd much rather buy a car that was factory stock than a bunch of mods that supposedly make it 50 HP more. IMO, the car is fast enough as is and it's throaty sound is just fine. Again, not hating on the modders, but it really is money down the drain, so it's more a labor of love.

[JR 1]

I don't think they will appreciate except for very rare models like Copo, Z/28, etc. I do think they hold their resale value better than average though. I was planning to buy a used Camaro, but I ended up getting a new one because there wasn't that big of a savings to get used.

[Fred 6528]

The 1st gen camaro became popular when babyboomers wanted to relive their youth. This generation of 5th gen babyboomers wanting to do he same will not be there, the 5th gen camaro is a great car and I enjoy mine but the idea of them becoming classics with the amount of cars produced is not likely. You might get lucky if you own a COPO or Z/28 but after that it's just a gamble, so go enjoy your car and if you still own it 40 years from now and it's a collectible restore it.

[ChrisBlair]

Originally Posted by drewsky

Heya Folks,
I'm still a newbie Camaro owner and have been loving every second. Anyway, I had an observation and I wonder if anyone has noticed the same thing.

So when I was shopping around for my car I originally wanted to buy used so as to save several $k on an already-depreciated Camaro. Trouble was, I couldn't find a used one cheap enough to warrant buying used. For example, I found a 2011 with about 15,000 miles on it that cost only about $2k less than the 2013 model (WITH all the GM discounts, not MSRP obviously) I ended up buying brand new. Almost all the used models I found had only depreciated a couple $k - which is extremely rare with American made cars. Typically you can find a used car maybe 1-2 years old for a significantly lower price. So, do Camaros depreciate slower than most vehicles? Which leads me to my next question:

I'm of the general opinion that the Camaro is one of the best-engineered and crafted (in terms of style, performance, etc..,) vehicles in the class, ever. It competes with the 69 bumblebee, and I think it's an instant classic. Now that they've started moving away from the 2010-2013 body-style with the 2014s, and plans are underway to deviate even further in 2016, I wonder if our cars will end up appreciating in value. In other words, 5-10 years from now will these cars actually be worth more than what we paid for them? Granted I don't care and will love and continue to drive mine either way, but what do you all think? Oh and if my theory proves correct, it would behoove all of us to save our stock interior/exterior items in the garage somewhere, as we continue to mod. Thoughts?

Absolutely not.

The car restoration hobby has gotten absurd. Barret-Jackson and similar televised venues have convinced too many people that cars are goldmines. Old junk is old junk. Every time I see a Ford Matador and somebody says "a classic" I want to claw my eyes out.

Today's cars are built better so you will not have the "rarity through rust" situation like with a '69 Superbee. They also lack the identity of the original muscle cars- the car car culture is not the same today.

You're better off playing the lottery.

[beebumble]

Originally Posted by Mr. iNCREDIBLE

true, however they do depreciate slower than some other vehicles because they are not sold in fleet to rental car companies and businesses.

one of the biggest factors in the depreciation of vehicles is fleet sales, the more vehicles (especially the entry level base models) in rental fleets the faster they depreciate.

while there are some, there are not nearly as many as say Chrysler 300s, Chargers, Cruze's, Impalas, Malibu's, etc.

90,000 Camaros of the same year on the the road = more value per vehicle than 300,000....

I travel for work and that is not true, rental car companies do have the Camaro.