how will car manufacturers address the used car problem?
#61
Le Mans Master
I bought my 04 Brand new out the factory, but now as time goes by, obviously car value diminishes but it pisses me off everytime I see random plebeians driving around in c5s because you can snag them cheap now. It's like owning a vette doesn't mean anything anymore - almost everyone has one nowadays.
It sucks to think that 10-20 years from now, everyone will be rocking used mustangs/corvettes as if they are hot stuff. Do you think maybe GM should stop making vettes for a few years to create a gap? Otherwise think about it, every year the used car market is getting flooded with vettes, and few years down the road you get more random people driving around in corvettes
It sucks to think that 10-20 years from now, everyone will be rocking used mustangs/corvettes as if they are hot stuff. Do you think maybe GM should stop making vettes for a few years to create a gap? Otherwise think about it, every year the used car market is getting flooded with vettes, and few years down the road you get more random people driving around in corvettes
#62
Le Mans Master
#63
Melting Slicks
I bought my 04 Brand new out the factory, but now as time goes by, obviously car value diminishes but it pisses me off everytime I see random plebeians driving around in c5s because you can snag them cheap now. It's like owning a vette doesn't mean anything anymore - almost everyone has one nowadays.
It sucks to think that 10-20 years from now, everyone will be rocking used mustangs/corvettes as if they are hot stuff. Do you think maybe GM should stop making vettes for a few years to create a gap? Otherwise think about it, every year the used car market is getting flooded with vettes, and few years down the road you get more random people driving around in corvettes
It sucks to think that 10-20 years from now, everyone will be rocking used mustangs/corvettes as if they are hot stuff. Do you think maybe GM should stop making vettes for a few years to create a gap? Otherwise think about it, every year the used car market is getting flooded with vettes, and few years down the road you get more random people driving around in corvettes
In many circles, a corvette of any flavor is one part of the american dream. But as stated by others, many people cannot afford a new one.
So for those that do trade in their old 'vettes, it gives someone else the opportunity to live a dream.
NBM 01
CGM 14
#64
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Member Since: Jan 2014
Location: Virginia Beach Viginia
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Hi Robert, I'm just down the way from you here in Elizabeth City. Drive up to Virginia Beach often. That is where i was stationed when I retired in '92. Are you in one of the clubs up there? Have been thinking of joining one and Virginia Beach is the closest one for me. I have looked at Beachcombers, just trying to find the time.
#67
Burning Brakes
#68
Instructor
Probably a troll thread but if not amazing to see how ignorant some people can be. Lets be real here we aren't driving Ferraris or Lambos. As a 20 year old who just purchased a 2000 C5 with 35k miles at what I consider a bargain price of 14.5k (And yes every dime of that was my own money) I love the diverse community of owners I joined. The age range really goes across the spectrum and it really is awesome getting to just enjoy the hobby with other enthusiasts. Every owner that I have met over the years at shows or the track even before I owned my car has always been extremely down to earth and really nice. Glad I havn't come across someone like OP
#69
Safety Car
I'm almost old enough to remember when C2s were cheap. Literally anyone could get one if they wanted one. My dad who was by no means rich had a 63 SWC when I was born and he sold it for next to nothing because he had a kid and couldn't justify the toy anymore.
Then I do remember C3s being literally given away. nice cars selling for just a few grand. I remember my dad and my uncle ripping on them as crap cars that would never compare to the C2. I remember my uncle buying a few, fixing them up and flipping them they were so abundant and cheap.
I remember when the C4 was hot stuff. I remember dreaming of owning an 84 cross fire car. I remember my uncle buying a 10,000 mile used 84 that was blue and it being the envy of my life in my early teens. Now they are hard to give away, and many other Corvette people mock them as the ghetto Vette, just as used to be the C3 and briefly for a time the C2.
The C5 is coming down in price. Is anyone surprised?
It is a VERY capable car, so we will see if it ever makes "give away" status, but you never know and honestly I expect lesser maintained but drive-able high mile examples to be in the $5-7k price range in the next couple years. The newest C5 is afterall a 10 year old car and the older models are up to 18 years old.
I have a 1994 Camaro. When Chevy stopped making the Camaro for several years my 94 did not jump in value. When they started making the "new" Camaro, I also did not see my 94 jump in value.
I see no reason to believe that if GM stopped making Corvette for a few years that it would make any difference in the value of C5s.
All cars have a floor they reach in value. The C5 is nothing different. Once they reach that floor and plateau they may slowly begin to rise again in value simply because of scarcity.
the 3rd generation Camaro is an example of that. Try to find a really nice late 80s Iroc 5.7 with low miles and all the options for under $10k. I remember selling a perfect one for $4k long ago. I wish now I had kept it because I miss the car.
My 94 Camaro is now worth slightly more than I paid for it 10 years ago ... but still not a whole lot... just because of scarcity. Most of them have been flogged into submission years ago like the older Irocs.
Last edited by TraceZ; 06-08-2014 at 10:02 PM.
#70
Melting Slicks
I'm on my 9th Vette, most purchased used. I was too busy putting two kids through college and providing a beautiful home for my family. I'm now 66, drive an 04 vert, a BMW 535ix and a Q50. I probably earn more than most now, after 46 years in the workforce, so now I can buy a C7 NEW or a 427, BUT, I will probably want to have money for my family after I'm in Corvette heaven so I may not make the purchase.
I guess I'm a plebian.
And why am I replying to this aristocrat?????
Mods should close this before we all get nasty!!!
I guess I'm a plebian.
And why am I replying to this aristocrat?????
Mods should close this before we all get nasty!!!
#71
Burning Brakes
I don't see a problem - some people buy a new car and others buy a used car, but everyone drives a used car.
K9Leader
Red cars are faster. They did a study on it.
K9Leader
Red cars are faster. They did a study on it.
#77
Racer
I seem to remember this "Cash for Clunkers" program the government tried. One requirement was that the used car had to be crushed. All that program ultimately did was make inexpensive reliable transportation for poor people go away for quite some time.
#78
Le Mans Master
#79
Le Mans Master
Circles? I just added to his comment. He said he could afford a C7 and I thought most people here could. Sorry if maybe you are one that can't. Now are you going to argue about that too?
By the way that is one ugly hood.
#80
Le Mans Master
I'm on my 9th Vette, most purchased used. I was too busy putting two kids through college and providing a beautiful home for my family. I'm now 66, drive an 04 vert, a BMW 535ix and a Q50. I probably earn more than most now, after 46 years in the workforce, so now I can buy a C7 NEW or a 427, BUT, I will probably want to have money for my family after I'm in Corvette heaven so I may not make the purchase.
I guess I'm a plebian.
And why am I replying to this aristocrat?????
Mods should close this before we all get nasty!!!
I guess I'm a plebian.
And why am I replying to this aristocrat?????
Mods should close this before we all get nasty!!!