01-24-2010, 08:17 AM | #16 | |
Drives: 2010 Camaro 2SS/RS Join Date: Mar 2008
Location: S.W. Florida
Posts: 6,294
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Quote:
I have a friend with an 05 GTO that has less than 20K miles on it. He was one of those guys that thought his low mileage GTO would be worth something in 5-10 years. He paid 32k for the car and now its worth 13K. How's that for an investment. |
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01-24-2010, 08:46 AM | #17 |
Turbos. Turbos. Turbos.
Drives: 2010 SS Yellow/Black Join Date: Nov 2009
Location: Loveland, Colorado
Posts: 201
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If you bought your Camaro for an investment, you made the wrong move. The cost of ownership is the fun in driving. Consider how hot the LT1 cars were back in late 90's...and how they devalued. Why? One reason is GM always upped the ante in HP when the LS1 entered the picture.
In 2020, the typical 35MPG Camaro will put out 600+ HP. Well, wishful thinking but the reality is, we didn't think they'd be doing what they're doing today, even 10 years ago. Bigger, better, newer. That's what devalues the aging cars. There is one exception that comes to mind though. If you bought a brand new 86 or 87 Buick Grand National and mothballed it then (cost was $18K fully loaded), it'd be easily worth more than double that today, even in a depressed market, with very low miles. And, it looks like they will continue to increase in value. One reason is that they only made around 40,000 turbo Regals with the Grand National option (as I recall). Not a very large production count. So, drive your new Camaro, have fun with it, and trade up in a few years.
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01-24-2010, 09:11 AM | #18 |
Your SS should hold about 65-70% of its' MSRP. If you take care of it, abused it drops to some where around 40-50%.
BTW – This is based on the following assumptions, GM is still in business, Camaro is still in production, fuel is affordable and the feds don’t force us all to go green. Last edited by rickerda; 01-24-2010 at 09:18 AM. Reason: added assumptions |
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01-24-2010, 09:19 AM | #19 |
Drives: 2LT RS Rally Yellow Join Date: Nov 2009
Location: Miami, FL
Posts: 136
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We are entering a period where American cars will begin to hld their value better but yah, in 6-8 years it will depreciate pretty heavily.
This is why the "market adjustment" premiums that some people paid are such a rip-off. A car can depreciate $5-8k just when you drive it off the lot so its crazy to pay more than MSRP |
01-24-2010, 09:30 AM | #20 |
Account Suspended
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I can careless it would be paid for by then.
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01-24-2010, 09:41 AM | #21 | |
Drives: 2012 Mustang GT Join Date: May 2009
Location: Abilene, TX
Posts: 1,358
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Quote:
8 years and still worth 70% of its value? I disagree. Show me 1 GM car that is the case in. 36,000 - 30% (10800) = $25,200. NO WAY. Hell I am seeing 36K Camaros sell used for 2SS/RS for as low as 31K right now. less than 1 year on the market they have dropped 5K-- you think it will take 7 more years to drop another 5K? I full expect to be able to buy a used Camaro 2SS/RS for 25K in 2.5 years - 3 years tops. (leaving 5 more years for it to depreciate further) ________ Host And Design Last edited by jrc1122; 03-11-2011 at 10:37 PM. |
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01-24-2010, 09:58 AM | #22 |
LOL at most people here.
Drives: 2005 GTO,2006 M6, 2007 300 Touring Join Date: May 2009
Location: MI
Posts: 1,331
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ding ding ding, we have a winner. Thats the exact thought I had also.
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Number 5952. oh yeahhhhhhh
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01-24-2010, 10:02 AM | #23 |
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12 dollars and 55 cents.
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top 10 reason why real men drive stick. 10. A manual transmission is the ultimate in control 9. You can use automotive jargon and not sound like a total tool 8. You can't spell "manual" without "man" 7. Manual transmissions prove you can do more than one thing at a time 6. You can't drift in an auto 5. You can't pull fancy moves in an automatic 4. You get better fuel economy with a stick 3. You’ll never look like a chump if you can drive stick 2. Manual transmission cars are faster 1. Women like a guy who is good with his hands. |
01-24-2010, 10:11 AM | #24 |
Derrick
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the biggest depreciation hit on the car has already been taken by most of us.....we drove it off the lot! however, if gm were to stop production after 2-3 years, that could boost resale values. look at the 94-96 impala ss!
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2010 ABM 2SS/RS, A6, home Dec 10th, wifes birthday present! 2007 GMC Yukon XL, 2000 S10 Xtreme, 1969 Chevelle |
01-24-2010, 10:16 AM | #25 | |
Drives: 2010 Camaro 2SS/RS Join Date: Mar 2008
Location: S.W. Florida
Posts: 6,294
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Now a good comparison for the Impalla SS would be the 04-06 GTO. And as of 2010, the GTO's value is still dropping. |
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01-24-2010, 10:35 AM | #26 | |
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i dont know why you are frowning. the more cars that are produced means that many more parts years down the road. it also makes it easier for myself to have one seeing as i wont be able to buy a brand new one like i had hoped if you want a special/rare car buy a bently or something |
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01-24-2010, 10:36 AM | #27 |
Drives: 2010 Camaro LS-M6 67 Chevelle Wgn Join Date: May 2009
Location: .
Posts: 1,509
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I agree, but you don`t even need to drive it off the lot before it depreciates, the moment you said "I do" and handed the dealer the check, the dealer gives you the title and at that moment it probably lost 2-3 thousand dollars in value.
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01-24-2010, 10:42 AM | #28 |
Derrick
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true enough.....but once they hand you the title and keys its only a matter of seconds before youre off the lot and bookin it down the street! so maybe just combine the two in one swift motion! lol
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2010 ABM 2SS/RS, A6, home Dec 10th, wifes birthday present! 2007 GMC Yukon XL, 2000 S10 Xtreme, 1969 Chevelle |
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