No Torque 4 U

Hello everyone

This is my first post.

I'm looking to get my first Corvette and have decided I want it to be a C5 Z06. I want to buy one yesterday but am trying to be prudent and have decided to ask for some expert advice from the experts...you. Hopefully I'll be joining you all soon in ownership nirvana.

When the 2007 C6 hits the street, rendering the 2005 C6's 2 year old vehicles, wouldn't you expect to start seeing used 2005's in the low
30's, not all of course but some for sure? Now if that turns out to be the case won't that put downward force on the C5 Z06 market?

Before anyone gets upset and defends the C5 Z06 as a superior car to a generic C6, let me say that I'm not stating otherwise, rather I'm simply asking you all if the global market will force the C5 Z06 downward?

Let's start with todays values May 8, 2006 and please correct me where I'm wrong:

2001-2004 Z06's assuming excellent condition with 25,000 miles on each of them, everyone is black, so as not to introduce rare color desirability etc. and occurring in a private party sale. The 2001 of course being the unique and least expensive model amongst the 4 years due to 385hp vs 405hp and all the other known upgrades and differences. (I'm by no means putting down the 2001 because I could easily see myself buying one.)

2001: $24,000 - 26,000

2002: $28,000 - 30,000

2003: $31,000 - 33,000

2004: $34,000 - 36,000

I'm guessing these cars transact in this range currently, like I said correct me if I am wrong.

Please give me your projections for say September - December 2006 on all 4 model years, in the context that we might see used 2005's around $34,000 by then?

By the way I do understand that in general pricing will always trend downward with each subsequent model year, with respect to used vehicles, however, my theory here is that for a replacement product cycle (C6) there are 2 major adjustment periods with respect to the former (C5):

1. The debut cycle causes above average deflation of the previous model value over an 18 month period. (already happened)

2. At some point during the 3rd model year, in this case the 2007's, a viable used market establishes itself, causing above average deflation of the former once again.

After these 2 events normal depreciation per year is expected.

I believe it is possible that I can sit on my hands a few more months if this theory holds water.

Thank you all for your time.

Walt

CO Lightfoot

Some might say you're a bit on the low side, especially given that it's springtime. But I think the price ranges you estimate for 01 - 04 C5 Z06's look right to me. I expect prices to hold firm through the summer. So, if you're looking to buy soon, might as well buy now. And enjoy now!

Of course, you'll find better prices next winter. And the next winter, and the next...

sailohio

Prices vary by region, but I think you are low by about $2000 accross the board. I'm not saying there are not exceptions. It's Spring in Ohio and there is a shortage of nice clean cars. Prices are higher. BTW, it's my perception Z06s depreciate faster than verts or coupes. There is a more limited market for resale because many vette owners and prospective owners want to take the tops off. Abuse is more likely suspected on a Z06 or a car which has been heavily modded. What do others think?

Kingman99

While your on the right track with normal vehicles you way off course with specialty cars like the vette where no two vettes are alike.

There are too many things that go into the final values of used vettes to actually put a dollar figure on them. What you have been reading are guides and only guides which in my opinion are worthless but one has to have a starting point.

The difference between a 385 hp Z06 and a 405 hp Z06 can only be determined on a strip (clocked) so the difference in prices will be determined by condition, options, and mileage. And if the vette still has some kind of GMPP warranty.

The deciding factor should be the warranty if all else is equal. The difference in the years is meaningless in terms of dollars and cents.

Bottomline buy the one in the best condition with the lowest miles with a GMPP warranty.

The owners of the 03/04 will get hurt the most because they are not bringing anything extra to the table over the earlier Z06's.

Also you shouldn't be looking at any Z06's with over 20,000 miles and at this point you are looking at needing another set of tires and they are not cheap.

And as far as mod's pass on any except maybe a blackwing or exhaust
upgrades. Anything else and l would bet it was driven hard.

Now the owners garage and the person himself tell a lot about how the vette was maintained.

To truely know the condition of the vette you should wash and dry it yourself and only then you will see everything.

And as far as the C6's seeing the low 30's you will have to wait a little longer for sure unless it has high mileage and was used as a daily driver.

Don't try to guess the market because smarter people in the know have no idea what the future is going to bring less what is going to happen one month from now.

Also the cheapest price is not always the best buy.

Good Luck in your search.

Alan

dwalker011

I try to follow the market expecially for Z's and FRC's and I would say that the prices are off ~$2000 as well. Spring has revived the market and id say 01's go for ~28k-30 with 02' going for around ~$30k-32k. Just my .02 cents.

mike85mph

Dropping faster than other Corvettes. I think we all wish they were $2,000 higher. He might be off a little low, but I don't think it's that much. Perhaps someone is looking at asking prices too mcuh - as opposed to what they are actually selling for. It being SPring they might hold to the high side of his ranges, but I think that he's pretty darn close to selling range.

dwalker011

You are quite right. Im just going by the asking price. I would have no way of tracking actuall sales but, I doubt that they are as low as stated. Most people will negotiate from their asking price but, not $2k. Those numbers also don't take into account GMPP warranty and mileage which will help resale considerably. With summer coming, the market isn't going to drop. Im still thinking about all the great deals I saw during winter. Summer is usually the exact opposite, especially with sports cars.

burbleflyer

Buy this car right now.

SJ

Actually, as a seller of a 2003 Millenium Yellow Z06 with 28,000 miles my buyer will get almost new tires since at 24,000 I replaced the first set with factory originals. I'm asking $33,500, $500 reasonably over his upper bracket, given the extra value of the tires. I see others like me asking for about the same. My car will be 3 years old in July so I don't think I can get much more for it.

Sure, some sellers are hoping to find an exceptionally motivated buyer, and some buyers are looking for an exceptionally motivated seller. When it comes to exceptions I tend to rule them out and prefer to count on the rule, that being the average, so I can get on with things - both as a buyer and seller, as well as in most endeavors in life (a bit of free personal philosophy).

Frankly, the most expensive used cars are the lemons and the worn out ones, regardless of what the price tag was when sold. +/- $2000 up front is nothing compared to the potential cost of an engine with loose, badly worn rings, a failing differential, minimal clutch padding, and worn balk rings in the tranny - all which can operate between 95% to 99% of spec functionality right up to 10% life remaining, and then start declining in functionality very rapidly, until a breakdown occurs.

Boy, I'm not really pitching my Z06 very well, am I?

dwalker011

LOL!! Exactly.

Vetter Atl

If you want a c5 that will hold value better than others get either a low milage 97 or a 99-00 FRC (hardtop). FRC's are rare esp. 2000's and have M6, Z51, 3.42 and look cool as ****. FRC's have squeaked into the 12.90's in the 1/4 bone stock and post nearly identical track lap times to Z06's in some cases. Yes Zo6 is faster, better performance wise but FRC is more rare, better looking IMO, and cheaper for the moment....they will be worth more than zo6 in the future though due to low prod. #'s......This is my opinion and I'm a biased FRC owner!!!

Good luck and whatever C5 you get you will not regret it for a minute!

Kingman99

If you do your homework you will be very happy with what ever year you buy. But if you run across a reg C5 that strikes your fancy and everything is right about don't let it get away.

Alan

TT C6

An average mile 2001 ZO6 sold on here for $30k
OVER 2 YEARS AGO !!!!!

Do you guys actually think these cars appreciate with time?

This mindset is exactly why I bought a NEW C6!

I fully expected to find a 1999 base coupe for $15k by now.
If an original owner bought a new 1999 for $42k and sold it this summer for $15k, they would have paid $281 a month for owing the vette for all that time.

Instead, guys think these cars are worth over $20k!

If they are, then it's a no brainer to spend $281 a month to own a 2nd year Corvette (97 wasn't a full run) until you upgrade when the next generation is released.


Buying new is a no-brainer if you believe these cars are worth what sellers are claiming.

Oh, the old ZO6 can't be compared to the new ZO6.
But, it can be easily compared to a new Z51 coupe PLUS you ALL the upgrades the new C6 offers.

To all the seller that think your cars are worth the inflated numbers being quoted here:
I hope your numbers are right when it comes time for me to sell my C6 for a C7.

LeeJones

But you can't get a new C6 as you described for the mid to upper 30's either

c-5-steve

Oh, the old ZO6 can't be compared to the new ZO6


Your right The C-5s are much better looking

CupertinoZ06

Well me and a private seller recently shook hands on a price for his
ZO6. We are currently hammering out the details of the transaction and the car should be on my driveway soon. 2001 Chevrolet Corvette ZO6, silver, clean title, only a few minor mods, 15,000 miles, more or less in mint condition. Looks like it was a garage queen.

We shook hands at $29,500. It seemed like a fair price to me. So am I over paying or what?

CupertinoZ06

IMO the C5 ZO6, especially in silver or red, is the most beautiful and hottest looking car ever made in the history of automobiles. The look is timeless.

TT C6

Well, if you refer to my post above,
an original owner sold their 01 ZO6 on here for 30k OVER 2 YEARS ago, Springtime, for 30k.

If you think a like car only depreciated $500 in 2 years,
sure then, you got a good deal.

TT C6

You'd be surprised.



As far as value, a USED C5 has NOTHING to do with a used C6's value.
Let alone a NEW C6's value.

ASR.

The last 2001 silver Z06 I sold was bone stock with 36,000 miles sold for $31,000, and it was Beyond mint condition. In a perfect world the market value of 2001 Z06's would be dictated by the prices suggested on this forum. The market value for a low mile 2001 Z06 that's stock is between 29,000 and 31,000


24-26K for a low mile (perfect) 2001 Z06 is living in a dream world.