Our Resale Value

[2doorrocket]

Am I the only one here that is sitting here wondering why my 60k car just booked for 39-44k? Lol... Or are there others on the same page?

[v8]

Yep, I follow these things and in the near term our cars will take a hit, why? Because its easy to go out and get a new one, it will take some time and they will stabilize. I'm thinking they should bottom around 30K and then hover around there as long as they are kept up.

But I could be wrong, who knows..........

[Emvici]

Lol 2doorrocket, I posted a similar question at the end of January. I was toying with the idea of trading my 14 ZL1 in for a C7 vet. I paid 65k, 68k out the door all fees. I have 3500 miles on it. The Dealer offer me 50K. told me" they just aren't bring the money" Funny cuz when I bought it a few months earlier, he bragged about how these cars would hold their value, especially the convertibles. Beware when I posted my post, I found NO support, all I found were a bunch of people that thought they could educate me about depreciation values on cars lol (like this was my first purchase and I was 21. So sincerely if I were you, I would expect the wolves. Anyways its the BS game when it comes to dealerships, they are simply trained liars (as I see it) tell you whatever they need to tell you to make a sale, and then they laugh back at you and tell you, that you just bought something that "just isn't bringin the money" or just isn't worth the money. The dealers know that once they steal your car back, they are going to ask top dollar again for it, so just do not allow yourself to get mugged, best wishes. Also keep in Mind the value of our cars in determined by Perception. If you believe it is a 60K car then it is a 60K car, if you chose to let the dealer tell you its a 30K car now you own a 30K car.

[So Cal Camaro]

When you buy a depreciating asset, you have to expect that. I had a 2003 Corvette bought on 0% financing and it seemed to depreciate every month by about the cost of the payment until it hit about half of original price...then held for a while...these 5th gens initially were holding value pretty well in the first few years, but there are enough out there that prices have dropped, regardless of model.

[v8]

Originally Posted by Emvici

Lol 2doorrocket, I posted a similar question at the end of January. I was toying with the idea of trading my 14 ZL1 in for a C7 vet. I paid 65k, 68k out the door all fees. I have 3500 miles on it. The Dealer offer me 50K. told me" they just aren't bring the money" Funny cuz when I bought it a few months earlier, he bragged about how these cars would hold their value, especially the convertibles. Beware when I posted my post, I found NO support, all I found were a bunch of people that thought they could educate me about depreciation values on cars lol (like this was my first purchase and I was 21. So sincerely if I were you, I would expect the wolves. Anyways its the BS game when it comes to dealerships, they are simply trained liars (as I see it) tell you whatever they need to tell you to make a sale, and then they laugh back at you and tell you, that you just bought something that "just isn't bringin the money" or just isn't worth the money. The dealers know that once they steal your car back, they are going to ask top dollar again for it, so just do not allow yourself to get mugged, best wishes. Also keep in Mind the value of our cars in determined by Perception. If you believe it is a 60K car then it is a 60K car, if you chose to let the dealer tell you its a 30K car now you own a 30K car.

Nice write up, its the truth.

[2doorrocket]

Lol... I called it a lost cause and sent it to Hennessey for 15k ill get 699rwhp done by professionals.

Edit: I wanted the HPE750 package but unfortunately an automagic can't handle that according to them, so I got HPE700

[lbls1]

One has to know and expect right off the bat that these cars (and many that are upwards of 60k) will depreciate, and one could end up taking a bath if a trade or sale happens early. I do not think that the depreciation rate on the ZL is totally out of whack, as you would expect a similar rate with almost any domestic.

The saving grace with the ZL (as with some limited production cars, and high performance, muscle and the like) is that at some point the drop rate will likely bottom out, and with time the values could start to climb. You will not make any money, but the ZL purchase may have residual value and reverence from the collectible market after a good amount of time (maybe 20 years or more).

[Whos_Drivin]

Originally Posted by 2doorrocket

Am I the only one here that is sitting here wondering why my 60k car just booked for 39-44k? Lol... Or are there others on the same page?

No surprise here. With production starting up on another model year and many "new" ones still on lots and the release of the C7...not surprised at all. What would you expect it to book at?

[2012-1822]

My answer is I don't care. I knew I was buying a forever vehicle. Not suggesting it's the last car I'll ever own, not even the last speed mobile I'll own, but hoping I die owning this one. Others may come and go for me between now and then, who knows.

[RiCorvette]

I wonder WITH anyone would pay an additional $5000+ over MSRP on any depreciating commodity like a car...
...more money than sense, I guess.

[01pewterz28]

Give it 35-40 years they might be worth $40k due to the amount of vehicles being reproduced it's not a rare car.

[2012-1822]

Originally Posted by Ricamaro

I wonder WITH anyone would pay an additional $5000+ over MSRP on any depreciating commodity like a car...
...more money than sense, I guess.

I wouldn't be shocked to hear dealer mark up on '14 Z/28's is more than that in some places. People pay it. I knew I wanted a '12 ZL1 since it was the first year. I honestly felt like I was getting a deal when I paid sticker. Other dealers were quoting me $5k over.

[Stephen12ZL1]

I love my car, but it isn't a Ferarri. The resale doesn't surprise me at all.

[Highland Ranger]

Especially when you consider that the dealer will mark it up for resale and there needs to be room there for his price to make sense compared to the new price.

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