[richm]

I had been leaning heavily towards getting a convertible V6 LT with RS package instead of the SS since I live in a big city, and as a result have a minimal need to use the extra power of a V8 in the stop and go city driving. I plan on keeping the car at least 10 years as primarily a summer joyride car, so perhaps I'll be putting on only about 2K miles a year.

BUT...I'm curious as to the depreciation hit on the LT versus the SS? It's nice saving $5K right off the bat, but I'm curious if the depreciation hit when I eventually sell would pretty much negate the initial price differential?

[Techn9cian805]

It will be about the same either way. You need to wait till the turbo 4 comes out to get a good comparison.

That being said, if you get a 2SS or 2LT, you will take a larger hit compared to a 1SS or 1LT, if the pattern of the gen 5 carries over to gen 6.

[Icefsh]

The SS. They hold their value a lot better. I think the same is true of the Mustang. The GT loses less value over time. I think the V8's tend to be driven less. More garage Queens. Where more V6's are daily drivers and rentals. I think when given a choice, most people would rather have a ten year old V8 than V6. I know I got beaten up pretty bad on my 2LT trade in.

[GTIanZ28]

Yep. Depreciation will be a big hit for the LT's.

I fully anticipate that my 2LT will be worth $26k in 2-3 years (1/3rd value loss). I bought the car intending to keep it for 10 years assuming there aren't major mechanical/maintenance issues.

If worried about depreciation then the 1SS would be the best bet. Smartest option would be to buy a used 5th gen. Drive it for a couple years..... Sell it with minimal depreciation and then look to buy a 1-2 year old used 6th gen.

[63falcondude]

Your car is a liability, not an asset. Get what you prefer since it is a bad financial decision to get one at all. (This is what I tell myself at least).

[ST1LE]

Originally Posted by 63falcondude

Your car is a liability, not an asset. Get what you prefer since it is a bad financial decision to get one at all. (This is what I tell myself at least).

This!!!

You have to add up the intangibles too. Like the extra joy I get from the overall feel and sound of a monster V8 engine like the LT1. I LOVE driving them fast or slow, and ten years of that would negate any concerns for losing money as thats a fair trade off in my eyes.

[BradfordCamaro]

Whats a 10 year old camaro gonna cost anyway.
Doesn't matter which one you have, both will have low / minimal value.

[Jeb114]

10 years ago, Blue book or Nada were the source of vehicle prices. Not any more they are a rough guideline. Today resale and trade in prices are generated by auction prices. when you bring in a car for trade, the dealer calls the local auction and asks what the similar car sold for that week.

[prod]

If depreciation is of any concern to you, you probably should be buying used or leasing.
Confusing when you say you plan to keep it for 10 years, when it will be worth squat at that point either way.

[Rob13567]

I saw something from consumer reports the camaro v6 holds it value better than the dodge challenger or mustang.

[mcsoul]

Let's say I go back to GM in a year with 12 months eaten out of a 48@$400 month 1SS lease. I want a ZL1, would they buy me out of my lease?

[Jeb114]

All the interest is usually loaded in the front of the deal, After 1 year 98% of the payment go's to interest and fee's, Not principle. and I do not think any dealer will buy out a lease at full value. And many lease's do not have a buyout clause.