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[Z06] Shocked at Z06 resale values

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Old 08-03-2011, 02:46 PM
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Skullbussa
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Default Shocked at Z06 resale values

Last spring/summer I researched and shopped for '08+ Z06's, this went on for months. My search was for 2008 or newer Z06's with 2LZ or 3LZ and under 30k miles: range was $50k-$54k.

Fast forward to today, I'm looking for the same car and I am having a helluva time finding that same car for under $50k. Sure, there are maybe a dozen or so nationwide, but it's a rare find!

So you Z06 guys should be very happy that those prices are so strong. I figure we have another 2 good years before the C7 comes out and the prices start to fall faster.
Old 08-03-2011, 02:52 PM
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NORTY
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Originally Posted by Skullbussa
Last spring/summer I researched and shopped for '08+ Z06's, this went on for months. My search was for 2008 or newer Z06's with 2LZ or 3LZ and under 30k miles: range was $50k-$54k.

Fast forward to today, I'm looking for the same car and I am having a helluva time finding that same car for under $50k. Sure, there are maybe a dozen or so nationwide, but it's a rare find!

So you Z06 guys should be very happy that those prices are so strong. I figure we have another 2 good years before the C7 comes out and the prices start to fall faster.
Actually, the opposite may come true. Once the C7 comes out...without any LS7, then the cars with LS7's will become finite as far as supply goes. This will drive demand and pricing. Remember: the future is forced induction. The LS7 is NA so it attracts "traditionalists."
Old 08-03-2011, 03:09 PM
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Minnesota Scott
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Originally Posted by NORTY
Actually, the opposite may come true. Once the C7 comes out...without any LS7, then the cars with LS7's will become finite as far as supply goes. This will drive demand and pricing. Remember: the future is forced induction. The LS7 is NA so it attracts "traditionalists."
Put me in the "Traditionalists" category...I almost purchased a ZR1 and in the end wanted the LS7 motor instead for this very reason.

Scott
Old 08-03-2011, 03:22 PM
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Turbooo2u
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I believe the prices of ALL used cars has gone up about 10%, on average, in the last year.
Old 08-03-2011, 03:33 PM
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actually the resale value of my 08 Z06 does nothing for me , the LS7 does ..

Who cares dude? Enjoy the car
Old 08-03-2011, 03:48 PM
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C5 Frank
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Have you seen how much 2012s list for??? That is what keeps the value on the older models up..... A 2LZ loaded is knocking on $90k... if you add the Z07 or carbon... forget it....
Plus the used Z06 market is stronger than the new one!! Not many Z06s have been built since '09....
Old 08-03-2011, 03:50 PM
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jlutherva
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Originally Posted by 04_Z06_CE
actually the resale value of my 08 Z06 does nothing for me , the LS7 does ..

Who cares dude? Enjoy the car
I care! I need to know how much track insurance to buy! I want to be able to replace it w/o too much pain.
Jim
Old 08-03-2011, 11:40 PM
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383vett
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Originally Posted by Skullbussa

So you Z06 guys should be very happy that those prices are so strong. I figure we have another 2 good years before the C7 comes out and the prices start to fall faster.
The values of my/our 08Zs dropped so much the first 2 years, a slowdown in depreciation is hardly a victory. But as the above poster noted, who cares, we are smiling evey second we drive our Zs. The experience is priceless.
Old 08-04-2011, 12:03 AM
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As the USD falls, all those foreign made parts start to get more expensive. e.g. I think the brakes are made by PBR Australia, and I am sure China supplies one or two pieces... This leads to the newer models costing more.
Old 08-04-2011, 12:11 AM
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I'm glad I got in on the ls7 wagon when I did...almost 2 months ago. I got my 08 3LZ with 28k miles some bolt-ons and a few extras for 46k.

I'm loving this beast!!! I still have the same big old grin on my face as the day I test drove it! Warranty until 2013...
Old 08-04-2011, 12:31 AM
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Kinda really dont care, as got mine. Gotta realize, at $70K new, these cars are the bargain of the century already, and amazing GM ever produced them. What else is there in this price/perfomance range. Answer, nothing, and think more buyers in the used market are starting to realize it.
Old 08-04-2011, 12:39 AM
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30YR W8T
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If the Z06 is the last Corvette with a NA beast of a motor in the car, then these cars should do very well long term. Collector grade no, but desirable grade would be a resounding yes. I think the Z06 has established a spot for itself in history as a very capable sports car and even going on 6 years has some serious respect on the street.
Old 08-04-2011, 01:03 AM
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Originally Posted by Skullbussa
Last spring/summer I researched and shopped for '08+ Z06's, this went on for months. My search was for 2008 or newer Z06's with 2LZ or 3LZ and under 30k miles: range was $50k-$54k.

Fast forward to today, I'm looking for the same car and I am having a helluva time finding that same car for under $50k. Sure, there are maybe a dozen or so nationwide, but it's a rare find!

So you Z06 guys should be very happy that those prices are so strong. I figure we have another 2 good years before the C7 comes out and the prices start to fall faster.
I was shocked as well. My buddy is looking to pick up a used Z, and I was telling him don't worry, used Z's are cheap and dime a dozen now. Boy was I wrong....not only are there very few for sale, but the prices are A LOT higher than I thought they would be as well. I guess good for me, but sucks for him.
Old 08-04-2011, 01:56 AM
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vettluver
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Originally Posted by NORTY
Actually, the opposite may come true. Once the C7 comes out...without any LS7, then the cars with LS7's will become finite as far as supply goes. This will drive demand and pricing. Remember: the future is forced induction. The LS7 is NA so it attracts "traditionalists."
I subscribe to the theory "there's no replacement for displacement", and there are many more than just me who will opt for big CI's. I guess, call me a traditionalist too.
Old 08-04-2011, 05:44 AM
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LT5 John
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Originally Posted by Skullbussa
Last spring/summer I researched and shopped for '08+ Z06's, this went on for months. My search was for 2008 or newer Z06's with 2LZ or 3LZ and under 30k miles: range was $50k-$54k.

Fast forward to today, I'm looking for the same car and I am having a helluva time finding that same car for under $50k. Sure, there are maybe a dozen or so nationwide, but it's a rare find!

So you Z06 guys should be very happy that those prices are so strong. I figure we have another 2 good years before the C7 comes out and the prices start to fall faster.
If GM disscontinues the LS7 motor, don't count on it?...It would be the last stand for 427" motors...
Old 08-04-2011, 07:16 AM
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tim414
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about nunbers built. In '10 only 518 built.

I have not seen '11 numbers but know most of the 'Z's built (in 11) were high end models. (Carbons and Z07 pkgs).

I'm glad their finally stabilizing. A couple years ago 'Z owners had tosell at highly depreciated prices which made me sick to see. I'm holding on to mine of course.

'Z's



Originally Posted by C5 Frank
Have you seen how much 2012s list for??? That is what keeps the value on the older models up..... A 2LZ loaded is knocking on $90k... if you add the Z07 or carbon... forget it....
Plus the used Z06 market is stronger than the new one!! Not many Z06s have been built since '09....
Old 08-04-2011, 08:03 AM
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Originally Posted by vettluver
I subscribe to the theory "there's no replacement for displacement", and there are many more than just me who will opt for big CI's. I guess, call me a traditionalist too.
Actually, there is...it's called an LS9. My 5.4 S/C'd GT motor makes the LS7 look sleepy from every standpoint including bottom end grunt...

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Old 08-04-2011, 08:39 AM
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cdngolfer
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You will find that Canadians (all 33 million of us) may be buying a few used ones since our Cdn dollar is worth about $1.04 US right now and in Canada, the list price for a new corvette is about $15 grand higher than the US!
Old 08-04-2011, 09:11 AM
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As the saying goes, resale value is only important if you are selling. I ain't selling.
Old 08-04-2011, 09:31 AM
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VetteVinnie
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Good to know. I almost dumped mine for $45K about six months ago with just under 20K miles (and a ~$10K Stage IV Ragin Racin package) because I was having a love/hate relationship thanks to the clutch. Nice to see pricing stabilizing. And now that I have a Katech LS9X clutch in it, it's all lovey dovey again.


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