KOMETA

Hello everyone!

I'm new on this forum and this is my first post here. And the reason is... of course a Corvette.

I do love the car. And I want to buy one. But I'm also a guy who doesn't want to throw money away. Actually I never bought new cars 'cause I always found this unpractical.

Anyways, with current discounts on C5 do you think it's gonna be a good investment? If let's say I buy an automatic one now for approximately 35k what do you think it will be worth in a year considering C5s will not be available anymore and a new Vette will be around 46k? Do you think it may turn out that in a year and 20k miles it will cost approximately the same I'll pay for it now?

I will appreciate your opinion! Thank you and have a good weekend!

slythetove

No.

Cars are not investments. Only cars that are 1) 30 years old and limited. 2) New, but VERY VERY limited (Enzo) could even remotely resemble "investments".

Sorry.

KOMETA

Well, I agree with you. I guess to make it clear I do not want to make money on the car but I'm just trying to estimate how much I lose. If let's say I break even in a year I consider it a good investment speaking about cars.

madeouttaglass

:

Wadoka

Again, no.

There are too many C5s for them to appreciate in the lifetime of the original owner, IMHO.

Mint-condition Z16 cars are the only cars that should hold their value and possibly appreciate one day.

sxeC7

First of all, no new car is an investment and no way with 20K miles in a year are you going to get top dollar for it. 10-12K a year is consider average mileage and anything over that reduces the price. That said, buy the Vette! You'll love it and you'll kick youself for not doing it sooner.

Evil-Twin

I paid 3000 dollars for my 58.. right now a bad 58 is getting 75/85,000 dollars.. Ive seen a few go for 110,000 at auction...
paid 3800 for my 63 split window.. they are right around 100 grand on a good day. One of my best friend just sold hios perfect 70 corvette 454.. we bought 70's together, they cost us 6300 dollars new.. he just got 20,000 for his.

Elite Engineering

Take it easy on him, it's his first post.

As the previous thread stated, you can not consider this as an investment until you plan to keep it for 25 to 50 years.

Plus once "Mod-Fever" hits, you will be spending all kinds of money that will only decrease the value of your "all-original" car. Sorry, it's a curse but it's the truth


Good luck with your decision

madeouttaglass

Sorry about that. I couldn't help myself. Welcome to the forum! I took advantage of these discounts this past spring. I don't want to know what it'll be worth next year though. For sure, with my MSRP of 56, purchase of 45,I would still be losing 10+. How much plus is anyones GUESS. I promise that it will cost you OVER $500/month in losses in the first few years.

madeouttaglass

BTW- I never bought new before either. These deals are as good as you will ever get on a BN Vette. If you go a few years old you may end up only losing a few K per year though. You did come to the right place for the best info.

csexton

Don't worry about the money. Spend! Spend! Spend! You will love the car

slythetove

Ok, you prove my point. Those cars are all over 30 years old.

HummelS

With current discounts & rebates on C5's in the $10K+ range, I do think there's a distinct possibility you won't get hurt too badly on depreciation. Look at it this way - current prices on C5's are artificially low, because dealers want to keep their allocations for C6, which they can sell at full MSRP - or better. Normal price differential between model years is around $3-$4K, as a rule of thumb. So - if a dealer is getting "full ride" on C6's, what's a slightly used 2004 C5 going to be worth, once you can no longer buy a new one? Inventories on C5's, especially Z06's, is declining rapidly, from what I hear - GM let the "loyalty rebate" of $4K lapse this month.

sxeC7

We all know nice old Vettes being big $ now days. But, back then their value was just like it is now. I traded a 1955 for 1957 and $1500. That was a lot of money at the time. It's all relative. Would I like to have them both today, you bet!

madeouttaglass

That would be nice. It truely is anyone's guess. If mine actually holds that well maybe I'll be in a C6 in a few years. It'd save me the few grand that an extended warranty would cost.

ZFORME

Buy a classic for an investment buy a new one to drive and enjoy.

BigJoe

I sold my 1970 that cost me $6000 for $3000 in 1973. 50% depreciation in 3 years. If I'd kept it till now I could get maybe $20K. But that is in 2004 dollars which is actually less than $3K in 1973 dollars. Appreciation is mostly inflation.

KOMETA

This is exactly what I'm talking about but looks like the majority of the forum doesn't agree.
Somebody mentioned here the depreciation will be around 500/month. But if this is 500 a month of the MSRP the current 12k discount would let the car keep the value for a couple of years.
I think I'm gonna buy it anyways regardless of the "investment quality", insurance price, etc. I just think I have to wait for a couple of months until it gets pretty close to my birthday so I won't have to pay taxes this year. It can easily save me another 500 here in GA...

BHP

Look, the C5 'Vette is a special car but it depreciates just like most cars. There were too many made to make it an "investment." Drive and enjoy.

gwanghoops

cars aren't an investment, but you can try to make the cost of ownership minimal by buying a used car, driving it awhile, and reselling. usually astute car guys can do this with older (and nicer) vehicles with high resale value, but it's not unreasonable to think that is may be possible to drive a 04 c5 for a year cheaply, assuming a temporary dip in c5 pricing.