RJRSW

A good example of a uneducated buyer paying to much for a car.

An older couple that bought a 2001 Convert for $25,000 with 12k miles on it back in April contacted me on my WTB C6 Convert ad I was running in the Phoenix area Craig's list. They wanted to know if I would be interested in the car because they are in their mid 70's and have found that after 400 miles they just cannot handle it.

The guy that they bought it from told them that it was worth more than what he was asking and that it was a good buy. Who would ever guess that a seller would think their car is worth way more than it actually is.

The new owner told me that he has been trying to resell it again for 3 months and the highest offer he has gotten was under $17k and get this that offer was from the guy they originally bought the car from in April for $25,000.

Cybercowboy

Thanks guys, I'm not really needing to sell it and 15k sounded low. It's been paid for since '05. There's just the issue of my wife wanting to park in the garage this winter.

For those that asked, it is torch red/black/black, all options except the adjustable suspension, has polished wheels, no BSM's , 6-speed, and the stiff springs/gear ratio option package thing (whatever that's called...). Paint is excellent, garage-kept, all that. It has been driven in rain, which I realize takes about 50% off its value.

troy144

At that price you would not be considered selling it, only grandstanding it. And you would be assessed a 15 yarder for unsportsmanlike conduct

STALION

In Canada a low mile C5 people are asking 25G's and up EASY...doesn't mean they are getting it of course but prices here are still holding steady.

troy144

for before 2001 upgrades?

STALION

Yup! There are plenty of low mileage vettes around here, and people are asking a mint. Even the higher mileage C5's are still in the high teens...even some C4's are still in the low teens...crazy I know.

XDodgeMan

I just went through buying a 2001: convertible, 6spd, mag red with oak interior. I didn't want more than 40,000 miles either. Pretty picky but it is my money and that is what I wanted.

I found a few and they sold between $20,000 and $24,000. This is the mid west and east.

Mileage is the key to price as near as I can tell, more so than model year.

Qcksilverc5

I got a dealer offer in NC of 18k for mine. 54,000 miles on the clock. '01vert A4- clean and stock.

stingraymyway

If the only issue is your wife wanting to park in the garage this winter, look into storing your Vette at a storage facility. Some even have temp. controlled units.

lh4x4

Why? Why? Why? Why does everyone want to devalue their cars. Go for the highest dollar amount based on KBB, Edmunds or even what dealers are asking. If you have a cream puff honor it don't sell low.

manley845

I bought my 01 vert at NADA value in March for about $25k. It had 24k miles on it, which added $7,500 to the value. Now it has about 42k miles which has taken the added value down to about $5k.

If you sell your car, the key is to find a buyer that wants a low mile C5 vert. There are buyers out there, buyers that will assume your car is worth whatever you ask for it (so long as its close to some sort of published valuation).

Note: I chose to pay a higher price for my car for one main reason; I was upside down a lil bit on my 09 Charger, and the dealer screwed up and offered $5k more than what my car was reasonable worth. I held them to the trade offer and the manager reluctantly honored it. $19,500 trade on a car that booked for about $14k and no other dealer made an initial trade offer of more than $13k. Eh, I'm happy and I'll keep this car for a long time Heck, I only went to the dealer that day because I was bored and wanted to drive a Vette Lol

manley845

That would have been retail value (i.e. dealership), and probably still is if they don't drive it much, but no private buyer would want to pay that when they could go to a dealer and feel better about the purchase. I don't know why someone would pay full retail without the expectation of keeping the car for years to come. I paid $25k for mine, but I fully expected to pay retail for a low mile car that will be my daily driver and that I will keep for years. Heck, if I tried to sell my car now I'd lose my @ss. But, it's no different than buying any other car off a lot, depreciation is the name of the game sometimes.

steve8

So supposedly someone paid 53k for a 98 when new?? I don't think so.
I paid a LOT less than that for my new CE vert.

Vetteman Jack

I wouldn't think it is worth $27K+ - more like $22K with those miles and if in very good overall condition. He'll be sitting on it for a while.

As for yours, you should just slap that guy upside the head for offering you $15K.

Cybercowboy

Actually, I paid somewhere close to that for my '02 vert back in 2001. Zero interest for three years too, but the payments were pretty healthy.

Cybercowboy

Eh, he just threw it out there. I'm storing the car in one of his buildings because we have a remodel going on and my garage is packed full of stuff. He's got a nice collection of cars but he's more of a Ford/MoPar guy. He's probably wanting to just flip it, and thought maybe I was just wanting to dump it. Um, no. I have a standing offer from a couple I know, they said if I ever wanted to sell let them know as they are wanting a low-miles C5 convertible. Most likely I'll just get a storage building for it and reconsider next year. Maybe if I get new tires on it I'd drive it more, who knows?

jdsaengine

I have a friend who sold his 03 last month for $20,000. 6-spd, yellow vert, corsa pace car exh, with no other mods, 21,000 miles.

XDodgeMan

He gave it away!

Jim in Mich

I bought an 02 Z06 for $26,000 this summer. It only had 7,400 miles and it's a Lingenfelter. Also has a stage 2 DTE diff and a bunch of other go fast and look pretty goodies. I think I got a good deal.

manley845

Just sitting at work and plugged in an 03 6spd with those miles (assuming non-anniversary edition, non-magnetic ride control) and NADA has retail $28,150; and Trade $24,300. Thats including the $6,375 bump for low miles.

Of course no one would pay retail for a private party purchase, but I'd think it could've gone for a tad more, maybe closer to the $24k mark. But I guess it depends on the conditiona and how quickly it needed to be sold.