02-29-2012, 09:38 PM | #1 |
What plummets in value faster?
What drops in value faster, a convertible or a hard-top?
I can justify spending the money on a convertible if I know I'm getting some back when I sell it. Some used cars I've seen the convertible only cost about 1000 more than the hardtop after just a few years ... yet a convertible adds like $7k to sticker... is that typical? I live in NY, if that matters. We get like 4-5 months convertible friendly weather here. Sent from my SAMSUNG-SGH-I777 using Tapatalk |
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02-29-2012, 11:35 PM | #2 |
Drives: 12 Boss 302 Join Date: Sep 2009
Location: Grand Rapids, Mi
Posts: 1,369
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It all depends on your time frame, in the first 5 years, convertibles will usually drop more since they cost more originally. After 5 years, verts hold their value a little better in my experience.
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03-01-2012, 10:38 AM | #3 |
eek...
I don't know what to do... I don't for one instant guaruntee I'm holding this car for 5 years... But I like to know I can turn around and SELL it at any given moment (in a $$$ emergency.) For that reason leasing worries me. Sent from my SAMSUNG-SGH-I777 using Tapatalk |
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03-01-2012, 10:49 AM | #4 |
Drives: 2011 RJT 2LT/RS Convertible Join Date: Nov 2009
Location: Western Massachusetts
Posts: 3,381
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I have found selling previous verts in good condition will always get a better price than coupes, but you do put out more up front. A car is never an investment if you don't plan to keep it at least 10 years. Even then it has to be unique in some way, like being a vert. I find even in New England you can usually get at least 6 month with weather you can use the vert. This year I had a few days this winter I had the top down.
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03-01-2012, 10:55 AM | #5 |
Drives: 11 2SS/RS M6 vert Join Date: Dec 2010
Location: NSB, FL
Posts: 705
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I would never buy a car that cost this much thinking I may need to sell it within 5 years. You'll lose your @ss. I sounds like you need to make a choice on a nice used car until you have the funds to drop on a toy. I would not get a vert as a daily driver in the northeast. Mine only comes out of the garage on nice days.
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03-01-2012, 11:01 AM | #6 |
Drives: 2012 1SS Camaro Convertible Join Date: Sep 2010
Location: Blaine, MN
Posts: 1,674
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My house plummets the fastest!!!
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2012 1SS Crystal Red Convertible
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03-01-2012, 11:05 AM | #7 |
"SHARK" Born Apr.26,2011
Drives: 2011 CGM 2LT/RS Convertible Join Date: Oct 2011
Location: Mississauga,Ontario
Posts: 870
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cars are never an investment.Always loose value as soon as you drive it off the dealers lot.(with the exception of maybe a collectors car)
Verts over time will sell a bit higher than coupes, but cost more initially. I also store my vert for the winter and plan on owning it for many years to come. |
03-01-2012, 11:07 AM | #8 |
"SHARK" Born Apr.26,2011
Drives: 2011 CGM 2LT/RS Convertible Join Date: Oct 2011
Location: Mississauga,Ontario
Posts: 870
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03-01-2012, 12:17 PM | #9 |
Drives: 2012 1SS Camaro Convertible Join Date: Sep 2010
Location: Blaine, MN
Posts: 1,674
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Well, I am about 25 grand up in value from when I built it 11 years ago. But I did finish off my 4th level as a mancave so I am sitting about even. Dropped about 125K in value since 08. At least I am not upside down and it will be paid off in 3 years.
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2012 1SS Crystal Red Convertible
"Cherry Bomb" Winner of the #NameThatCamaro Spring Special Edition "Green Flash" |
03-01-2012, 01:33 PM | #10 |
Well here's my boat. This happens to be about buying a Mustang GT, not a camaro. I came to Camaro 5 for this because mustang forums SUCK, and this is the best car forum on the web, fact.
I can sell my 2010 GT Premium Auto for $25k. I can buy a new BASE GT Convertible for $30k plus tax or just a plain jane 2012 BASE GT Manual (more horses than my car, new 5.0) for $25k... leaving only Tax. Cons: No more leather (I dont like it), no more premium sound (I don't need it in a car I drive once a week). Pro: I want a manual. 100 more horses New engine, should depreciate slower than a 2010 GT, even without fancy extras listed in cons. Huge difference in price for the convertible, but If the convertible is gonna get me $3-5k more when I sell it, I'm okay with it. If its just gonna get me $1k more, then its a waste. Either way no loans. Its a cash deal. Sent from my SAMSUNG-SGH-I777 using Tapatalk |
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03-01-2012, 02:15 PM | #11 |
Drives: 2011 Camaro SS Convertible Join Date: Aug 2011
Location: Madison, AL
Posts: 223
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You can't drop the top when it's 75 degrees outside and enjoy the weather. A convertible is a little more money yes but it's so worth it when the weather is pretty. Who cares about resell value?
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03-01-2012, 02:32 PM | #12 |
Drives: Inferno orange Vert Join Date: Mar 2011
Location: New Jersey
Posts: 664
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If we are talking same year car similar miles I would like to think the convertible holds its value more, but than again you pay more for a vert so it works out too be the same
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03-01-2012, 03:16 PM | #13 | |
Quote:
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03-01-2012, 03:47 PM | #14 |
Rick
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There is a general rule in the collector and special interest car world.
When the top goes down, the price goes up. Model for model, verts are always worth more than hardtops.
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