Ungodly decrease in value - Page 7 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

United_727 · 11-09-2014, 12:23 PM

I was insulted with a $16k offer for mine . With 2600 miles on it .

john2012camaroSS · 11-10-2014, 08:50 AM

Its a tricky game with these STEALERSHIPS. All a mental game. Yeah they may be giving you what you want for your car but the car your trading for they are making it on that side of the deal. Either way its rare that they dont rape the hell out of you.

pickwithaustin · 11-10-2014, 09:25 AM

Quote:

Originally Posted by john2012camaroSS

Its a tricky game with these STEALERSHIPS. All a mental game. Yeah they may be giving you what you want for your car but the car your trading for they are making it on that side of the deal. Either way its rare that they dont rape the hell out of you.

If you educate yourself on how the process of buying and selling cars works before going in to a "stealer," they become a DEALERSHIP again and you can manage the control over your situation and be the decision maker.

E.T. · 11-10-2014, 09:35 AM

This is pretty typical. Cars are a terrible "investment." Have you ever heard someone say that they depreciate by 20% as soon as you drive them off the lot? That's pretty close to the truth, unfortunately.

xfgjsj · 11-10-2014, 02:15 PM

I took my '12 in to kenny ross chev. local here. 11 months old, under 2k miles to trade in on an equnox. paid 40k, they offered me 29k on trade. I also had a good laugh!

trashmanssd · 11-10-2014, 02:43 PM

Quote:

Originally Posted by E.T.

This is pretty typical. Cars are a terrible "investment." Have you ever heard someone say that they depreciate by 20% as soon as you drive them off the lot? That's pretty close to the truth, unfortunately.

raptor5244 · 11-11-2014, 12:42 AM

Just for reference I can tell you what the bank figured the residual would be for my 2013 2SS 1LE with, nav, NPP and sunroof. Bought it in August 2013, MSRP was 43k, bank residual after 3 years was 27.5k, which I thought was a little high. I originally planned to finance the car but when I learned of the high residual and the fact I was able to get a bunch of year end incentives I decided to lease instead. I never really keep a car more than 3 years. Bought the car new for just under $38k, residual 27.5k, money factor low with good credit, hard to pass up.

Now when my lease is up the 2017 Camaros will be out. Does anyone think this 1le will still be worth 27.5k? Maybe to the right buyer but all the leasing company is going to do is send it to the auction and probably get around 23-25k if they are lucky.

bluey9 · 11-11-2014, 04:32 AM

As soon as you drive it off the forecourt it drops in value. If you are gonna keep it less than two years then you have to be prepared to take a massive hit. Also, we are going into winter and who wants a RWD if you live somewhere that's subject to snow and ice. I live in Scotland and I imagine these basic rules of thumb apply the worl over.

Cheers
Bluey

11-09-2014, 12:23 PM	#85
United_727 Parts Guru Extraordinair. Drives: '02 SS 'Vert M6 Join Date: Mar 2011 Location: Upstate NY Posts: 1,178	I was insulted with a $16k offer for mine . With 2600 miles on it . __________________ Please check out my other hobby ; http://jetphotos.net/showphotos.php?userid=1008

11-10-2014, 09:35 AM	#88
E.T. Drives: 2012 Camaro 2SS/RS Join Date: Jul 2010 Location: Cleveland, OH Posts: 3,273	This is pretty typical. Cars are a terrible "investment." Have you ever heard someone say that they depreciate by 20% as soon as you drive them off the lot? That's pretty close to the truth, unfortunately. __________________

11-10-2014, 08:50 AM	#86
john2012camaroSS Drives: 2012 Black SS Join Date: Apr 2013 Location: New York Posts: 220 View My Garage	Its a tricky game with these STEALERSHIPS. All a mental game. Yeah they may be giving you what you want for your car but the car your trading for they are making it on that side of the deal. Either way its rare that they dont rape the hell out of you.

11-10-2014, 02:15 PM	#89
xfgjsj Drives: ford Join Date: Nov 2014 Location: mr Posts: 4	I took my '12 in to kenny ross chev. local here. 11 months old, under 2k miles to trade in on an equnox. paid 40k, they offered me 29k on trade. I also had a good laugh!

11-11-2014, 12:42 AM	#91
raptor5244 Drives: 2022 CT4-V Blackwing Join Date: Sep 2013 Location: Florida Posts: 2,723	Just for reference I can tell you what the bank figured the residual would be for my 2013 2SS 1LE with, nav, NPP and sunroof. Bought it in August 2013, MSRP was 43k, bank residual after 3 years was 27.5k, which I thought was a little high. I originally planned to finance the car but when I learned of the high residual and the fact I was able to get a bunch of year end incentives I decided to lease instead. I never really keep a car more than 3 years. Bought the car new for just under $38k, residual 27.5k, money factor low with good credit, hard to pass up. Now when my lease is up the 2017 Camaros will be out. Does anyone think this 1le will still be worth 27.5k? Maybe to the right buyer but all the leasing company is going to do is send it to the auction and probably get around 23-25k if they are lucky.

11-11-2014, 04:32 AM	#92
bluey9 Drives: Camaro 2LT (it's here), Peugeot 508 Join Date: Jan 2014 Location: Glasgow Posts: 157	As soon as you drive it off the forecourt it drops in value. If you are gonna keep it less than two years then you have to be prepared to take a massive hit. Also, we are going into winter and who wants a RWD if you live somewhere that's subject to snow and ice. I live in Scotland and I imagine these basic rules of thumb apply the worl over. Cheers Bluey