Jimcol711

With the C7 on the near horizon, the economy still in the dumps, gas prices expected to raise substantially for summer, how long until the C6 falls below 20k?

Specifically, a well-optioned (3LT+), clean, midrange-low mileage, early (05-08) C6?

It seems cars such as that are hovering around 20k on the private market and few (besides high mileage, no-optioned, cosmetically damaged cars) are going for below 20k.

Have any of you current owners gotten steals? Are any of the sellers desperate enough around here to go down into the 15k-19k range on a decent car?

FloydSummerOf68

It will be a while before you can find a 3LT low mileage car for 20k...quite a while. A 3LT with low miles for 25k is a very good deal right now.

Finding a low mileage 1LT in good shape for 20k would be a steal.

Low mileage C5Zs in good shape are still going for mid 20's

Hell, low mileage WS6/SS Fbodies in good shape are still going for close to 15k.

c6miller

Look at what late model C5s in "decent" condition are selling for, that may be a clue as to C6 values.

MTsVette

I purchased my 2006 AW A6 3LT coupe in Nov 2011 with 58,000 miles on her. Priced at $27,900. Excellent condition...only thing wrong, front tires worn on inside. I replaced the front tires, had the camber set to zero for better tire wear. I ended up financing $24.8K...Car is amazing!!

I think I did good...

Just my $.02

c6miller - nice color BTW!!

MT

FrankTank

RJRSW

I would say you will see those prices on a "well-optioned (3LT+), clean, midrange-low mileage, early (05-08) C6" around the time GM rolls out the new C8 Vette!

9UnderPar

I purchased a 2005 ISB (now 3LT) with 65k miles. Has navigation, onstar, XM etc. I paid 22,500.

Best way to estimate is to see what a comparabe C5 is bringing now.

Daekwan06

Prices arent gonna just fall off the deepend, even when the C7 is announced. As others have said.. look what C5's are still going for now. That said, the current prices make these cars an absolute incredible buy. A much better deal than buying brand new. The majority of the '06-08 cars have done most of their depreciating already. Generally speaking, after 3 years.. these cars go for about 50% of the original sticker price. Chances are the original owner paid nowhere close to sticker.. but it gives you an idea.

I'd guesstimate 5 years later you are around 40%. And 7 years later (2005's) are around 30%. Using that formula you have another 2 years or so before '06-08 models hit the $20k. Of course higher milage and average condition models will hit that mark quicker. But as it stands.. a low mileage 3LT '06-08 is still gonna run you close to $30K.

FWIW.. I bought my 3LT '07 Z51 coupe.. with glass top & chrome wheels for $25.8K in April of last year. The car did have 66K on the clock.. but I'd bet you pink slip you couldnt tell. It looks showroom new, even the leather on the drivers seat is in great condition for a higher milage Vette. With the factory GM 5yr/100k powertrain warranty beginning in 2007.. theres no real reason not to look for a average-higher milage C6 (instead of waiting for the prices to drop on the lower milage/higher priced ones). These are bulletproof drivetrains.. and what you see is what you get. Just look for one in great condition and only person who ever know (or care) about the milage is yourself.

cdoo932

I say they might go for around $20G in 2027. 3LT with low (below 15,000) miles.Might be off by a month or two but just my guess. After 2027 the price starts heading back up because they become classics.

dvilin

Keep waiting ain't gonna happen soon.

car2fast4you

How long does it take any other $50K car to drop to $15-20K?
Probably 10 years, or 150K miles, whichever comes first, I'm guessing.

JoesC5

Purchased my 98 C5 in Nov of 1997. MSRP was right at $40,000 and I got a $1,000 discount. 10.5 years later(July 2008) I traded it in on a new 09 Z06(MSRP $80,015 and I paid $68,538). The dealer gave me $17,500 trade in and listed the car on their used car lot for $22,000. It was sold within two weeks.

So, a 10.5 year old Corvette sold for 56% of it's original selling price, way above from the 30% you guessed for a 7 year old Corvette.

Corvette ED

I sell used Corvettes and can tell you I don't see C6 3LT cars under twenty grand for a long while. Low mileage C5 cars are still selling very well in the low to mid twenty's.

TRBOKEV

And you can mark the 08+ cars further out since they have the LS3 engine in them.

g35206c6a6

I bought a 06 3lt w/nav in great cond. With 36000mi in november2011 for $26000

Daekwan06

This is a listing of 2005 Corvettes (7 years old) for sale RIGHT NOW on Cars.com. This isnt some auction or special discount website.. its reality and a tool any average joe car shopper can use to figure out how much car he can get for how much price.

http://www.cars.com/for-sale/used/20...les&sf2Dir=ASC

There are plenty of great condition 2005's available for starting at $20k. Thats the listed sale price (not trade in price you recieved). Keep in mind that list price shown before any negotiation to further lower said price. While my formula was simply a "guesstimate" for how much a C6 is expected to depreciate.. please remember it was never meant to cover every single 7 year old Corvette known to man. Its simply a rough starting place.. for used C6 prices.. and real world look at depreciation these cars face.

Shifter6

Bought mine last May with 58k on the clock for 23,500. The car is perfect (as many vettes are) if I sold it today I don't know if I could get what I paid.

I could see myself selling my car in about four years (about 75k miles)for around 20k.

To the OP...not long but the depreciation does slow down once you get to 5-7 years old. Look at the C5s, they still do pretty well.

hawkandersonjr

I purchased a 2005 ISB (now 3LT) with 69k miles. Has navigation, onstar, XM etc. I paid $18,500. Had to repaint front bumper because of several rock chips damage. Vette runs great.

Larry/car

Before I would give my 2006 away at ridiculous low prices as stated, I would crush it.

Errick

Bought my 08 3LT new and got a good deal. I never considered resale I plan on driving it till death do us part.