Our Resale Value

[OldJedi]

Originally Posted by newmoon

Having purchased 2 brand new cars in the last 3 years, along with one like new low mileage car I learned my lesson. Wait it out. Let somebody else take the depreciation hit and be there ready to bail them out with your used purchase. I lost badly on my 2-new vehicles, I actually made money off of my used purchase.

Yes you will not get the brand new drive it off of the lot feeling, but you will end up saving 10-20k for the exact same car. Should you decide to sell in the future you will not take that initial hit.

The advantage of buying used/good condition is that you do save the depreciation money. The disadvantage is that you buy the model you want but not usually with the color and options you want. If color and options are not important to you, then definitely buy used.

I prefer to buy new and get exactly what I want but then I usually keep my cars a minimum of ten years. I bought the 2012 ZL1 because it was the first car that I really wanted to have as soon as it was made. It was ordered and purchased exactly the way i wanted and whenever I turn it on, it returns the favor. It still smile ear to ear when I hear that startup rumble. I have a 67 Vette that appreciates each year and that is nice but I enjoy driving the Z a lot more. I will be buying a new Vette in the next year or two and I am sure that I will not be around to see it or the Z appreciate in value. But I fully intend to have them put as many smiles on my face as possible while I am here.

[lbls1]

I wouldn't read too much into this; Depreciation is what it is. Its because of the fact that one takes such a hit after a purchase that I will neverpaysticker on a car.

Post #29 made a few good observations: The ZL was a special purchase; In essence an unusual purchase on a type of car that may or may not come again. I had no problems buying it new because I wanted the car exactly how I envisioned it. Its not a perfect world and there will always be regrets, other cars to grab your attention, and life situations that demand cash. You will sometimes take a loss in any situation of a car's ownership. The objective is to love the car that you'll buy and enjoy it to the fullest. If you can really get 100% joy out of your ownership of a car, then IMO you will come out ahead.

[bumblebeecamaro]

I have only had my 2013 Z barely a year and I have also been considering trading it in mainly because I barely drive the car and it sits quite a bit. I've called a few local dealerships and most of them are telling me I'd be looking somewhere in the $42K-ish for trade-in value. That number seems almost like an insult when I know the car is worth more than that. I know I'm not going to get nowhere near what I paid for the damn thing but $42K is insane for a $63K car when it was new and it still looks and smells brand new on the inside with only 2900 miles on the clock.

that being that has made me thinking I just need to keep the car and be happy that I'm one of the few people that are actually lucky enough to own such an awesome car. at least this sort of thinking will keep me from trading it in and getting royally screwed!

[gen=5]

Some say its not a rare car or low production,some say other wise,but if you think about the amount built per yr,and those that will be crashed, and the fact that over 66 million new passenger cars went on the road last yr world wide,and how many total cars will be built per yr 10yrs from now,est over 100 million and that CAFE is going to hurt the sport's car market ..there is not going to be a lot by those standards..

Another thing to think about is that the rest of the world has a craving for american sports cars,and they sell for much higher over seas,just as 1000's of older cars go over seas every yr these will also for those that can afford them.
The value should be there if you take care of it and keep the miles down,But the down side to that is that your spend more time washing ,and looking at it,than enjoying it on the road.....So I say if you purchase it to drive then do just that,as you only live once,and memories are all we really have for sure in the end...

[OldScoolCamaro]

...the car is holding it's own.... depending on geographic location and mileage/condition. Over time, and the keyword is time...the caveat being mileage...it will be ok. Like the 2002 35th's...10 years out...half value...if clean, pristine, and low miles. And that's a good residule. Beyond that time frame who knows, but cars racked up with miles have considerably less value. Theres no real investment in keeping these cars in a speculative market for future value unless one is 18 and has the rest of their life and the financial means to dilly over the question to keep it or sell.

[Msmall143]

You can buy remaining 2013 stock new for just over 50k. So the depreciation starts there. The value of something is never based off the first one that we bought rather the last one that was sold. If you can buy new at low 50's used is gonna be in the 40's.

Personally opinion - the days of buying a future collectible car are over. In 30 years people will still be after a 1969 type vehicle. Production numbers don't mean much when the cars are meant to last. It would be cheaper to buy the car you want in 30 years than buy it new today and spend the money keeping it mint, insuring and storing it.

I think some may wrongfully justify the purchase because "it will be worth more than other cars"

It's a chevy, they were made to last, and they were made by the thousands. Drive it!

[omegaman]

All cars depreciate initially as others have said here. My 2010 2SS depreciated about $300/mo over the four years I owned it.

Other cars I've owned, like Hondas and Toyotas, depreciate about $200-250/per month. Lowest depreciation on a car I owned was a 1993 Integra - it lost only $150/mo over the ten years I had it.

[Z Boss]

Owning these cars are not money making propositions; these are indulgences to be enjoyed and analyzing the depreciation rate is really a buzz kill!! Pick a nice day, fill the tank with 93 octane fuel, find a curvy road and calculate the price or value of that drive. You will personally appreciate more than your ZL1 will depreciate!

[hognutz]

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?

its simple they made 8k in 2013 and the car is a tad overpriced to start with. ha ha.

sad but true. if I did not need a back seat I would not have one I would still be in my Z06. I don't own one for the "investment"


then again if you paid 60k you either ordered every option or you did not get a good deal.

I paid 55k. high option cars always blow at resale as well.

even in my case though I paid right about invoice and I am still 10k down. haha.

any person who paid MSRP lets say is not seeing why paying MSRP sucks.

then again here is a not so fictional story. I wrecked my 2008 corvette in 2009 and I was devasted for about 30seconds (I wanted a used z06 in 08 but there were like 60-65k). I jump online and I find a every option Z06 with 7k for 46k. window sticker was like 78k. so that guy lost 30k in two years and 7k miles. So as bad as you feel now it could be wose. I also looked at a 2006 SL65 with 12k. 204k window sticker buy it now 69k 1 owner clean carfax.

[OldScoolCamaro]

...but, don't forget....this car is the ultimate Camaro....it does everything...at every level, that one could have ever wanted in Camaro. It's like the chick you chased after but couldn't get...but it's a car and you can purchase it.....who cares about the resale. Can you sell your trophy wife? What's she gonna be worth after 20 years or so...., and whats your risk versus return at that point...