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Old 07-15-2018, 07:44 PM   #1
Fishinfirefighter
 
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Sold my car.....WOW did these things depreciate

Sold it....Listed for 2k LESS than bluebook across 5 sites including autotrader only caught nibbles over a few weeks. Dropped to 31k caught another few nibbles......Dropped AGAIN and finally got a bite. Ended up selling to the first person to actually NOT stand me up on a showing for 30k. I never expected in a million years to have to essentially give 3k away under LOW KBB to sell this car. I LOVED it, it was PRISTINE, but this will be the last chevy I ever buy. The re-sale is an absolute joke guys, lets be honest with eachother. Im seeing dealers listing ZL1s for less than bluebook. That just sucks. I traded in my Toyota tundra for this car taking a hit of 3k less than I paid 3 years prior....on a trade in.



Was it worth it to lose 31k over 4yr ownership?? ...........Unfortunately for my wallet and married ear....YES! But, I will not not buy another one. Its was a BLAST I will tell you that.



So....in short.....a ZL1 is a boat essentially. It looks cool as hell, Fast, Fun and an adrenaline rush. But pucker up when youre over it because all that fun was NOT free...and I bought mine used I REALLY feel for the guys that paid the initial markup. OUCH!
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Old 07-15-2018, 07:50 PM   #2
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So it goes with a new car that is sold used 4 years later...doubly so with a regen. Not really newsworthy.
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Old 07-15-2018, 08:11 PM   #3
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Quote:
Originally Posted by JB'sZL1 View Post
So it goes with a new car that is sold used 4 years later...doubly so with a regen. Not really newsworthy.

No, Im 35yo. Ive bought, sold and traded in half a dozen vehicles in my life. My point was that not a SINGLE one of those vehicles took this much of a hit 1, and 2 NONE of them were such a struggle to sell especially asking below low bluebook. I was offered 25k,27k and 24k for trade-in on this car in the meantime.



Its cool, enjoy your ZL1. I know I did. I just did NOT enjoy selling it, thats all. Im not bashing your car.
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Old 07-15-2018, 08:30 PM   #4
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Quote:
Originally Posted by Fishinfirefighter View Post
No, Im 35yo. Ive bought, sold and traded in half a dozen vehicles in my life. My point was that not a SINGLE one of those vehicles took this much of a hit 1, and 2 NONE of them were such a struggle to sell especially asking below low bluebook. I was offered 25k,27k and 24k for trade-in on this car in the meantime.



Its cool, enjoy your ZL1. I know I did. I just did NOT enjoy selling it, thats all. Im not bashing your car.
Yea these cars do depreciate seemingly disproportionate to other vehicles.
Oh well.
Maybe you should have kept it.
Most cars are not an investment financially as you should know.
I took a huge hit butt no regrets as the fun factor was worth every penny....
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Old 07-15-2018, 08:42 PM   #5
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Well, the Hellcat and other Challengers have dropped like a stone too. My GT500 was the only modern hot rod I owned in the last 10 years to not lose me money. I sold it for more than I paid for it.
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Old 07-15-2018, 09:12 PM   #6
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Wow, you gave it away. I don't know any ZL1 owner who paid over msrp. I got my 13 brand new in 2012 for way less than msrp so I can't complain. As mentioned above the Hellcats have taken a bath in depreciation, I think more so than any performance car.
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Old 07-15-2018, 09:13 PM   #7
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How did you lose $31k if you bought it used? If you're including the mods, that sounds like a chunk of it. One generally loses their shirt on mods...excepting the fun factor. Which is why we buy these cars.
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Old 07-15-2018, 09:57 PM   #8
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I just traded mine it on a new truck Friday. Had it for sale and never really had any interest, not even the usual low ballers. With the tax savings it didn't hurt quite as much but still thought it would sell stronger.
I think the main issue we are dealing with is the price range, still higher then the average guy can swing but the disposable money guys are going for the biggest and the best so are buying the new gen vehicles.
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Old 07-15-2018, 10:36 PM   #9
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Im selling my ZL1. Haven't had much interest. I don't plan on moving much off my price. I will continue to hammer out the payments until it sells. If it doesn't, Ill have a extremely low mile ZL1 that is paid off and Ill just buy myself a 4th gen. Crazy thing is that I see people with 50K plus miles asking 35k and up.
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Old 07-15-2018, 10:52 PM   #10
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Quote:
Originally Posted by camarodude87 View Post
Im selling my ZL1. Haven't had much interest. I don't plan on moving much off my price. I will continue to hammer out the payments until it sells. If it doesn't, Ill have a extremely low mile ZL1 that is paid off and Ill just buy myself a 4th gen. Crazy thing is that I see people with 50K plus miles asking 35k and up.
Selling already? Didn't you just buy it at the end of last year? Not bashing, just curious if you got tired of it or something.
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Old 07-16-2018, 07:30 AM   #11
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Originally Posted by motorhead View Post
Well, the Hellcat and other Challengers have dropped like a stone too.
Hellcats are still $45-50k cars. They were around the same MSRP as ZL1 but have held up better because they didn't need have a new generation come out

Quote:
Originally Posted by JB'sZL1 View Post
How did you lose $31k if you bought it used?
I have the same thought. Doesn't make sense.
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Old 07-16-2018, 07:56 AM   #12
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Originally Posted by Fishinfirefighter View Post
. Ended up selling to the first person to actually NOT stand me up on a showing for 30k.
KBB is a joke anyway. Plus with the mods you have it will lower the value to most buyers. I'd be pleased at $30k with 38k miles. I think you did fine.
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Old 07-16-2018, 09:09 AM   #13
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No surprise, as this is how depreciation works. It actually isn't that bad; I've seen 95k cars go for 35k with only 4 years and not quite so many miles. Its the nature of the beast. Do not expect to make money on your purchase, and if you want to mitigate depreciation then sell soon or buy other model(s) with less depreciation.
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Old 07-16-2018, 09:29 AM   #14
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I think the 6th gens are atleast partially responsible for this. I’ve been cross shopping vette, gen 5, gen 6. Vette proly out cuz back seat. Hard to justify 25-30k for 1le or 30k plus for zl1. When used 6th gens are popping up in low to mid 30s with a better chassis and similar performance. ZL1 still one of the quickest ways to 6-700hp though.

Personally I’m of the opinion they will keep going down. 6ths will drive 5ths down. I think I could see zl1 having a plateau 20-25k like 03-04 cobras had back in the day for rarity and crazy hp potential.
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