Depreciation values? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

DeLegend · 12-14-2008, 07:34 PM

Now I know that the car hasn't even come out yet, but I was curious to get some input from you guys and what you think the depreciation value of the car is gonna be. Reason I say that is because I hope it doesnt turn out like the 4th gen camaros where you can get a 2002 Z28 with 20,000 miles for only 13 or 14k.... Kinda gets you nervous if you wanna get one new huh?

Sean_W · 12-14-2008, 07:45 PM

I'm pretty much expecting the same as previous sports cars. I had a '99 Firebird that I bought for about $20,000 (brand new with only 5 miles on it). It's gone now due to a bad wreck, but I would have been lucky to get $5,000 for it. Now, of course it was a base coupe with a few options on it. Of course, the same didn't seem to apply to higher end models fully loaded. The same '99 Firebird in the Trans-Am / Formula model could bring in $15,000 - $20,000 today. That's why with this new Camaro, I'm going all out (2SS with a few more option piled on top of it). If I ever had to get rid of it, I want to be able to recover at least a larger portion of the original value. I know it won't come anywhere near it, but it's a lot better than $5,000 five years from now.

CynAgain · 12-14-2008, 08:40 PM

Quote:

Originally Posted by Sean_W

I'm pretty much expecting the same as previous sports cars. I had a '99 Firebird that I bought for about $20,000 (brand new with only 5 miles on it). It's gone now due to a bad wreck, but I would have been lucky to get $5,000 for it. Now, of course it was a base coupe with a few options on it. Of course, the same didn't seem to apply to higher end models fully loaded. The same '99 Firebird in the Trans-Am / Formula model could bring in $15,000 - $20,000 today. That's why with this new Camaro, I'm going all out (2SS with a few more option piled on top of it). If I ever had to get rid of it, I want to be able to recover at least a larger portion of the original value. I know it won't come anywhere near it, but it's a lot better than $5,000 five years from now.

Playing it safe is probably a really good idea. The depreciation on the Ford Exploder was crazy so I tried extra hard to pay it off quickly.

When I was done with that I banked the payments for a down payment on this car. I plan on putting down a good chunk to try and stay ahead of the depreciation.

Sean_W · 12-14-2008, 09:00 PM

Same here. I started saving the day I left seeing Transformers a year and a half ago. If anyone knows me, that's an impossible thing in itself. I will have about $15,000 to put down. Can't wait.

Sean W

kylepo · 12-14-2008, 09:12 PM

just to let you know a car that is 7 years old and is still worth 13000 is pretty good their not too many 7 year old cars out their that hold their value that well. check out ebay

Gary B · 12-14-2008, 09:29 PM

Performance cars go down in value these days....its just a fact. They don't hold a value because they continue to get better and better! Be glad that happens...if you want value, go buy a mint Buick GN or GNX. You'll see cheaper Z06's soon enough even! If you want to play, you got to pay....enjoy the game.

Rogue Leader · 12-14-2008, 10:34 PM

Quote:

Originally Posted by DeLegend

Now I know that the car hasn't even come out yet, but I was curious to get some input from you guys and what you think the depreciation value of the car is gonna be. Reason I say that is because I hope it doesnt turn out like the 4th gen camaros where you can get a 2002 Z28 with 20,000 miles for only 13 or 14k.... Kinda gets you nervous if you wanna get one new huh?

Uhh... name another 2002 Car you could buy new for $26k and still get $14k for now 6 years later. Thats pretty damn good resale if you ask me.

Depreciation is directly tied to how many are out on the market, the overall desirability of the car, not as much the rarity (just because its rare doesn't mean people want it). Predicting it for a car that isn't even out yet is next to impossible.

StoutFiles · 12-14-2008, 11:29 PM

Quote:

Performance cars go down in value these days....its just a fact. They don't hold a value because they continue to get better and better!

Exactly...anyone that wants to sell a 4th gen better do it quick because once the 5th gen comes out it will trump the 4th gen in every way.

As far as cars with good resale value, the SS should be pretty good. Not too sure about LS/LT, could become watered down.

shockandawe · 12-15-2008, 01:26 AM

I plan to pay CASH! You know what they say,"CASH is KING" In these troubled times, this is the only way to go!

Never2LowChevy · 12-15-2008, 08:10 AM

Quote:

Originally Posted by shockandawe

I plan to pay CASH! You know what they say,"CASH is KING" In these troubled times, this is the only way to go!

I agree! Mine will be paid for before I drive it off the lot!

Txturbo · 12-15-2008, 08:22 AM

Every new car depreciates as soon as you drive it off the lot. Some more than others. How the new Camaro will fare depends on how many are built and how popular they are and if GM is able to stay in business or not. If they produce 10,000 Camaros then file Chapter 7 and go out of business, the new Camaros will only appreciate in value.
And it doesn't matter if you pay cash or not, new cars still depreciate the same.

KatarHol · 12-15-2008, 09:58 AM

I'd say the current Mustang is a good comparision for how values will go. Used values stayed strong for a couple of years for the '05 until demand was met,now a current Mustang is as worthless as any other new car once it's driven off the lot. The used Camaro should have a strong value for at least 2 years,then they'll be giving them away,especially the V6. Good for us that buy used,bad for the new buyer,unless you plan on keeping it.............JUST DON'T PAY OVER STICKER!
I've seen C5 Z06's in the '20s and a 15K mile '07 GT500 for 33K,not to mention all of the Porsche Boxsters you can get for under 20K,so don't expect the Camaro to buck the trend,it will fall in value,and fall hard,same as everything else.
I remember when the 4th gen Z28 came and how hot that car was and how special it was to see one...........and now,you see them for 3K and in junky condition,it amazes me to see them in such shape. Granted there are some mint ones,but just to see my dream car as a junker is weird,same for '90s Mustang GT's,same for C4 Vettes.

weedwacker13 · 12-15-2008, 07:12 PM

I have the constant debate with myself, weather to buy new, or used. New, I can get employee discount (uncle), or I could wait for one new, but what will the difference be, after how much time. I want a 2SS with no other options. Either way I go, Ill have to wait, because I dont have enough money yet.

12-14-2008, 07:34 PM	#1
DeLegend Drives: The Batmobile (The old one) Join Date: Dec 2008 Location: Jersey Posts: 27	Depreciation values? Now I know that the car hasn't even come out yet, but I was curious to get some input from you guys and what you think the depreciation value of the car is gonna be. Reason I say that is because I hope it doesnt turn out like the 4th gen camaros where you can get a 2002 Z28 with 20,000 miles for only 13 or 14k.... Kinda gets you nervous if you wanna get one new huh?

12-15-2008, 08:22 AM	#11
Txturbo Keeper of the Faith Drives: 2001 Z28 Agressively Join Date: Apr 2008 Location: Rosenberg,Texas Posts: 1,383 View My Garage	Every new car depreciates as soon as you drive it off the lot. Some more than others. How the new Camaro will fare depends on how many are built and how popular they are and if GM is able to stay in business or not. If they produce 10,000 Camaros then file Chapter 7 and go out of business, the new Camaros will only appreciate in value. And it doesn't matter if you pay cash or not, new cars still depreciate the same. __________________ 2010 Camaro SS R6P 2001 Camaro Z28 1969 Camaro SS clone

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12-14-2008, 07:45 PM	#2
Sean_W Drives: 2010 IOM SS/RS Join Date: Dec 2008 Location: St. Louis, MO Posts: 659	I'm pretty much expecting the same as previous sports cars. I had a '99 Firebird that I bought for about $20,000 (brand new with only 5 miles on it). It's gone now due to a bad wreck, but I would have been lucky to get $5,000 for it. Now, of course it was a base coupe with a few options on it. Of course, the same didn't seem to apply to higher end models fully loaded. The same '99 Firebird in the Trans-Am / Formula model could bring in $15,000 - $20,000 today. That's why with this new Camaro, I'm going all out (2SS with a few more option piled on top of it). If I ever had to get rid of it, I want to be able to recover at least a larger portion of the original value. I know it won't come anywhere near it, but it's a lot better than $5,000 five years from now.

12-14-2008, 09:00 PM	#4
Sean_W Drives: 2010 IOM SS/RS Join Date: Dec 2008 Location: St. Louis, MO Posts: 659	Same here. I started saving the day I left seeing Transformers a year and a half ago. If anyone knows me, that's an impossible thing in itself. I will have about $15,000 to put down. Can't wait. Sean W

12-14-2008, 09:12 PM	#5
kylepo Drives: 2002 firehawk.....missing 02CE Join Date: Sep 2008 Location: Midland MI/salamanca NY Posts: 360	just to let you know a car that is 7 years old and is still worth 13000 is pretty good their not too many 7 year old cars out their that hold their value that well. check out ebay

12-14-2008, 09:29 PM	#6
Gary B Drives: Subaru Join Date: Oct 2008 Location: Ct. Posts: 573	Performance cars go down in value these days....its just a fact. They don't hold a value because they continue to get better and better! Be glad that happens...if you want value, go buy a mint Buick GN or GNX. You'll see cheaper Z06's soon enough even! If you want to play, you got to pay....enjoy the game.

12-15-2008, 01:26 AM	#9
shockandawe Drives: 2014 Z51 Corvette Join Date: Dec 2008 Location: Wisconsin Posts: 1,349	I plan to pay CASH! You know what they say,"CASH is KING" In these troubled times, this is the only way to go!

12-15-2008, 09:58 AM	#12
KatarHol Drives: '04 Mustang GT Join Date: May 2008 Location: TN Posts: 313	I'd say the current Mustang is a good comparision for how values will go. Used values stayed strong for a couple of years for the '05 until demand was met,now a current Mustang is as worthless as any other new car once it's driven off the lot. The used Camaro should have a strong value for at least 2 years,then they'll be giving them away,especially the V6. Good for us that buy used,bad for the new buyer,unless you plan on keeping it.............JUST DON'T PAY OVER STICKER! I've seen C5 Z06's in the '20s and a 15K mile '07 GT500 for 33K,not to mention all of the Porsche Boxsters you can get for under 20K,so don't expect the Camaro to buck the trend,it will fall in value,and fall hard,same as everything else. I remember when the 4th gen Z28 came and how hot that car was and how special it was to see one...........and now,you see them for 3K and in junky condition,it amazes me to see them in such shape. Granted there are some mint ones,but just to see my dream car as a junker is weird,same for '90s Mustang GT's,same for C4 Vettes.

12-15-2008, 07:12 PM	#13
weedwacker13 Drives: 1990 isuzu trooper Join Date: Nov 2008 Location: Stamford CT Posts: 21	I have the constant debate with myself, weather to buy new, or used. New, I can get employee discount (uncle), or I could wait for one new, but what will the difference be, after how much time. I want a 2SS with no other options. Either way I go, Ill have to wait, because I dont have enough money yet.