C6-XTSY

Absolutely wrong. Just the fact of being 2 to 3 years older accounts for something. Otherwise, why would manufacturers give giant discounts to new cars that haven't been sold when they are carried over to the following year (e.g. a 2003 that hasn't been sold yet)? Would you pay the exact same price for a new 2003 when you can get a new 2004? The fact that everything such as seals, bearings, grease, fluids, belts, etc. are all older accounts for something too.

And the biggest difference: having no warranty on a 2001 or only one year left of warranty on a 2002. Matter of fact, to get an extended warranty on a 2002 to be comparable to the time left for a 2004 would cost close to $2K.

There's a difference between "giving it away" and pricing what it's really worth. So tell me...what would a used 2004 Z06 with 4K miles be worth if a new one is $42.5K? I'd say $39K max. Then a 2003 would be around $36K. And a 2002 would be $33K. To say a 2002 would be worth $38K is ludicrous. That would mean that it costs you $188 dollars per month to own a Z06 for 2 years. Yeah, OK. :rolleyes:

The price of used C5's will not "climb back". That's just wishful thinking. When KBB, Edmunds, NADA, Blackbook, etc. start to factor in the incentives then you will really see people scrambling to dump cars. The people holding on right now trying to sell for more are playing with fire.

BTW, everybody's claiming the C6 will go for sticker but forums vendors are already offering discounts. One forum vendor offered $2500 off MSRP...for a car that isn't even released yet! You would think that they wouldn't even bother discounting at this point. Hmm...do they know something we don't? And dealers that have met their C6 allocations doesn't meant squat. There are plenty of scalpers out there that pick up new model cars hoping to make a quick buck. So all of those sold allocations could be non-Corvette people. For all we know, the C6 could be a slow seller and be discounted right out of the starting gate.

steveT-UK

Something must give , all you sellers are hoping prices will rise all us buyers are hoping they carry on going down.
As I have asked before ,in 6 months when the c6's come out and all the buyers of the discounted 04's want to part ex where will the dealers take the depreciation from the MRSP or the discounted price if its the latter theres going to be a lot of cheap 04's about .
Bought new for around $40k less 15% depreciation for the 1st 6 moths thats an 04 for around $34k
What do YOU reckon to my sums or am I just hoping
A 03 convertable 1400mile just sold on ebay for $43k

gnosys

One consideration: ponder, what is the diff. between an 04 with 4K miles and an 01 or 02 with the same mileage?

Really - same engine, same suspension, same drivetrain, same interior, the only standout diff. between 01 and 04 are the Anniversary models badges and stickers, and 04 Z06 shocks.

Otherwise, nada, zilch.

Those of us with 01-03s aren't giving our cars away for good reason. :cheers: I still say when the 04s are finally all gone, used C5s will jump in value for a year or two!

speedy1

We all want to buy as low as possible and sell as high as possible. You will to once you get one, your not gonna want the bottom to drop out of your cars value.
:flag [QUOTE] Something must give , all you sellers are hoping prices will rise all us buyers are hoping they carry on going down.

mike229

Ditto...

The weather is looking to get better soon and I got 3 hits on mine the last 2 days! So as a seller, I won't be "budging" or lowering my price until summer is winding down at the earliest..

I also wont be posting my ad here anymore... for obvious reasons..

Good luck Steve! :) Hope your deal shows up someday...(Sorry to pick on you - just sharing a "sellers perspective!")

vetterlatethannever

:skep: Hmm? I have to disagree with this. Aren't the 01s fighting an oil consumption problem, I don't think it's just on Zs either, correctr me if I'm wrong.

Shouldn't 04s have bettter resale since they are newer cars? I know it is easier to get a loan out for a newer car even by just a year or two.

As far as used C5s jumping in value, that depends on the hit or miss of the C6. If it is well built, well liked and moderately outperforms the C5 at a reasonable price, I would doubt there would be a jump in the value.

repo

why does something have to give? When the 05's come out, and are selling for sticker,,,,,there will still be an 11K discount on 04's, to move them. That means everything is the same as now. How much lower can they possible go? :confused:

repo

If someone buys an 04, and trades it in on a C5 immediately, they deserve to take a hit.

lostsoulny

you mean C6 I assume. I think that once the c^ hits used C5 prices will stabilize, what does that mean probably at about the same as they are now, maybe a tad bit lower but I think depreciation rates then will be more stable like the first few years the C5 was out. (97's in 2000 were selling for around 30k considering they only had an MSRP of around 38k average thats pretty good depreciation)


[Modified by lostsoulny, 8:49 AM 3/22/2004]

gnosys

Good points all around. C6Ecstasy, of course, you are right: there is a fundamental difference between a car that is straight off the showroom floor and one that has been sitting in its garage throne for three years, even if the odometer says the same thing. Point is, it's not a HUGE difference - especially when the cars are functionally identical, say a 2002 and 2004. Yes, as someone pointed out, there are very small, unstated, incremental changes year to year - my 2002 has never burned or lost a measurable amount of oil, for instance, but the main difference is psychological: Americans have been conditioned from the years of domination by Ford, Chevy and Chrysler, to look for the hyped changes between model years. This is changing somewhat, but the old conditioning dies hard.
Back to market analysis; it's supply and demand. I've followed new and used C5 prices for several years and we are presently in a big time ANOMALY. Even two years ago, new C5s (let's just assume 1SC Coupes with most options - today' 1SB) were selling HERE for 41-44K (best Forum prices). Today, the same car is about 38-40K. Two years before that, best price would have been 1-3K higher. Simple fact is that supply and demand is forcing today's artificially low prices and when the supply drops - assuming continued demand - the price has to rise. Does anyone really think the cosmetic changes (and minor HP bump) of the C6 is going to generate such a demand that C5's will drop in value? Especially when the C6 will START at 50K for a 1SB??? (Yes, even with a 2K discount). Come on! Let's compare: a 2003 C5 1SB with 2K milesk for, say 37K, versus the the C6 at, say 51K? I know what I'd buy!
Yet today, some buyers are expecting to steal low mileage 1SB/C's for 30K? Get real! The sellers are just trying to recoup what they perceive to be close to the actual value, buyers (can't blame them :D ) want the best bargain possible. Things will meet in the middle, but unfortunately for sellers, it may not happen for another six months to a year. (There will still be new 2004s being blown out next Christmas!)
Anyway, if I were in the market for a new C5, I'd probably wait until around July. A really nice used one, hmmm... maybe not that long.

steveT-UK

And I'm still none the wiser !!!! :confused:

gnosys

Just buy it! (New, used, whatever) :D Life's too short to be without a great sports car! :yesnod:

You might save as much as another 1000 bucks by waiting around, but then the selection may not be as good.

steveT-UK

Well the cash is burning away here.
Just checked the blue book trade in on a low mile 02 loaded $29275. :steering: :auto:

repo

I agree with the above post ,,,just buy one. Worrying about better incentives, etc will drive you crazy. Also, throw the 'Books" away. They are garbage.
Everyone wants their trade in at retail, but wants to buy wholesale. :rolleyes:

KBB, NADA are guides, and are used more for the banking and lending institutions than the dealers.

mike229

If $29.2K is trade?
What would you be willing to pay? I would plan on 10%, less if you find someone desperate...
You surely don't expect anyone to sell you their car (private or dealer) at trade price do you?

steveT-UK

Is it not true that what the dealer gives you with one hand he takes back with the other ,By giving you a price with a trade in you have to pay sticker for the one you'r buying ,but if you go without a trade in you can negotiate a discount so I would be happy to split the difference and everybody would be happy .The private seller gets a bit more and the buyer saves a bit as well . :cheers:

gnosys

First, the used books are just a "guide."
Second, "private party" sale is more accurate than trade-in value (also higher)
Third, always negotiate trade-in with a dealer AFTER negotiating the new car price! :yesnod: Otherwise, you have no idea what he's really giving you for your trade-in. That's why the first thing they ask is "do you have a trade-in?"

BTW, Steve, since a dealer offerred me 30K cash on the spot for my low mileage 02 1SC Cpe, with all options removed, I figure that he's going to sell it for at least 35K. Probably more. Below 30K is well below wholesale. Look at what the Fla auction brought - low mileage coupes were around 34K. :eek:

Only place I see people wanting cars given away is right here on this forum. :lol:

steveT-UK

This is what I don't understand ,where are all those corvettes going? if a dealer is paying those prices they must be selling for over $40k when a new basic one is going for $36k did someone say on here .
By the way John just sent off for a new licence should be 8 days then we will see if CASH talks lol. :cheers: :auto:

mike229

Steve - You are exactly right!
But in the states, we have an option called carmax - they will give you trade price, even if you dont buy a car from them!! Very convenient for "dumping" a car..
(Maybe some of those vettes are ending up there?? They sell them at retail or slightly below)

So what would retail be on that car you quoted for $29.2K trade value?
What would splitting the difference take you to? If it takes you to $33K you can buy mine :-)!!

steveT-UK

Mike Mike Mike closer to $31500K and $32500K would be splitting it already got my eye on one have'nt I John .
But what have you got ? lets :party: