omar510

https://minneapolis.craigslist.org/dak/ctd/5966146486.html

no affiliation, just something I saw while browsing

waddisme

WOW! Great deal.

DP RS

Imagine that.

Gahan

Haha hence why I asked in the other thread.

caozidu@gmail.com

Always be careful. It might be a GM special used car. Maybe a corvette driving school vehicle.

Takoyaki

I saw another great deal on auto trader. Unfortunately, it was GM buy back for Lemon. The original owner returned the car for a broken gauge cluster. It supposed to be fixed but the title will say lemon or salvage.

I don't see many in low or mid $60s yet. I'm waiting.

DP RS

Smart move. I think there is a weakness in the used Z06 the market right now not only with the discounts offered in 2016, but also because options don't hold value especially so soon after the cars were produced. It also may be the pending (possible) ZR1 is making people wait, and driving down demand and/or increasing the volume of Z's for sale.

KBB only offers about a 3K difference in resale value between a "base" Z06 and one loaded to the hilt. See below.

It's not that the cars aren't in the mid 60's, because they should be. It's likely because that people who are selling now have to take a bath and are slow to do so. I hope you find one!

Prostreeter1

KBB is not an industry recognized valuation source. NADA is. For example:


KBB on my 16, Z06, 2LZ says clean trade in is 66,893. Clean retail of 71,817.


NADA says clean trade in of 76,725 and clean retail of 82,075. Huge difference between the two.


Also, last November I took my car to CarMax because I didn't want to screw with selling it. They offered me 72k. However, CarMax, at least in Denver is not in the business of selling high performance cars. If I would have sold it to them, I am absolutely confident they would have listed it at 79,995. I did find it interesting that CarMax offer sheet didn't take into consideration the carbon fiber package, competition seats and some other options. So they basically valued my car as a base Z06 with no options. I questioned them on that and their response was options really don't matter. Absolute BS.


Just keep in mind these KBB/NADA values are not set in stone. They're merely a reference guide for the public and dealers to use to place a value on a used car. It's also dependent on what part of the country the car is being valued.


This should get the argument going.


Disclaimer....your mileage may vary.

DP RS

Good points, however I'd be interested in what NADA considers the variances in private sale value from the base and fully loaded Z's. I looked before I posted and KBB made the clearer point. That, and I manipulated my research to cant in my favor (old habit from working at CNN, MSNBC or Fox...take your pick).

The numbers I posted were for absolutely flawless vehicles, which unless people go through the Expel and/or paint correction processes, you'd likely not get. What does NADA say about that? What vehicle condition did you use to arrive at your numbers? Retail price doesn't mean much when you are selling although there are supposed to be advantages to selling to a private party...some of which are representative of this type of "argument" . I still think the market for now is soft on these cars and will soften further before it plateaus. Color combos don't drive massive increases in value and neither do option packages. These things aren't "classics".

The original post here linked to a dealer post, so to your point...and to what others on this thread said...a vehicle posted at the mid 60's price level is interesting and undoubtedly priced according to what they think the market value is. Regardless of the massive variances and significant assumptions in this paragraph, this is how resale trends are set which in turn, drive some online pricing tools.

Prostreeter1

Welp, there's a whole lot to be said here. NADA, National Automobile Dealers Association, tracks the prices of used vehicle. I'm not 100% sure KBB does that. I really don't think they do.


"The numbers I posted were for absolutely flawless vehicles, which unless people go through the Expel and/or paint correction processes, you'd likely not get. What does NADA say about that"


NADA and KBB both say nothing about that. The factory paint condition is what it is. Some are acceptable, some are not. What they do take into consideration is paint chips, curb rash, interior wear, etc. Driven hard and put away wet. You get the idea.


"What vehicle condition did you use to arrive at your numbers?"


Excellent condition, which it is.


" still think the market for now is soft on these cars and will soften further before it plateaus."


It is soft at this time. It's winter for gods sake. End of next month with spring on the horizion these car for sale will move. If your looking for a boat now is the time to buy it. People who are on a budget and in the market for a Z06 didn't have to take the initial hit on deprecation and this is good for them. I don't know about the eastern part of the country but I can tell you that in the western part of the country dealers are NOT offering 10% discount on a 2017 Z06. If your in the market for a slightly used Z06, would you rather pay, lets say 93k OTD or 74K on a pampered 2016. I think I know what your answer is.


"The original post here linked to a dealer post, so to your point...and to what others on this thread said...a vehicle posted at the mid 60's price level is interesting and undoubtedly priced according to what they think the market value is"


Yup, you are correct. Why is that car in the 60's? The add says "GM special use car". I have no idea what that means.

DP RS

The market is what it is, and time doesn't change the veracity of my points around pricing. Most folks concede that based on the time of year alone you are likely to see better deals, and it's my opinion only that with the impending ZR1(?) production, not a lot of feedback regarding the effectiveness of the s/c improvements regards cooling on the 2017s (both of which will likely reveal themselves in the springtime or after) the downtrend on these will continue. With the possible introduction of any mid-engine designed car for the next gen, I think you'll see increased volatility around pricing at the same time where you'd typically see the value of a 2016 model stabilize some. Then again, the mid-engine idea isn't new so that may not bear itself out.

The volume dealers on the eastern seaboard do a lot of cross-country business just for the reason you mentioned. One I know of is doing 13% off of MSRP even on ordered Z06s. Just like the variances in used pricing, some niche customers and re-sellers (even dealers) rely on spur of the moment buys or folks without the patience to hunt for that seller that NEEDS to dispose of the car. None of this debate thus far considers that if one looks for a used Z long and hard enough, you will find someone that just wants out of the car for whatever reason.

Prostreeter1

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ ^^^^


Post up one, just one 2016 Z06, 2LZ, low mileage, non salvaged title, non GM special use car, non Ron fellows track car, non lemon buy back car, non beat to hell car anywhere in the country for mid 60"s . Just not going to happen yet.

Z0Sick6

Some of you people are really butthurt at what the cars are worth now. NADA is not accurate, kbb is closer. To the poster above, here you go, some are even certified - this was a 5 second search on 2 popular car sites


http://www.autotrader.com/cars-for-s...odelCode1=CORV

http://www.autotrader.com/cars-for-s...odelCode1=CORV

https://www.cars.com/vehicledetail/d...4889/overview/


Lastly, there are MANY that are in the $68-69K range (Dealer asking)... I bet there are easily a few especially in the northern part of the country that would take 1-2K off to move the car now. Keep time moving forward, along with the ZR1 announcement, people naturally moving on to another car etc. they are going to drop more.

Bill Dearborn

NADA Prices are inflated. Go to a used car dealer and try to purchase a used Vette and they will tell you NADA prices. Try and sell a Vette and you are offered Black Book prices. Insure your car with Lockton for a couple of track days and they want to know what the KBB Blue Book price is for your car.

Prices are lower at this time of the year since nobody is looking. It isn't a buyer's market it is a non market as people (especially in Northern Climes) aren't interested in buying Corvettes at this time of the year. What are you going to do with it once you get it? Park it in a 6 ft snow drift?

Bill

hogpup

KBB is what all the dealers use to value your vehicle.

Prostreeter1

You just made my point for me. The two you listed are high mileage, 1LZ cars

wuznme

Not this, dealers use the black books and auction reports to value vehicles.

mulalleybs

I paid 64k for a 5k mile 2015 with extended warranty and xpel. Sticker price of the car was 90k. Clean title and records.

CHOPPER1

Nothing wrong with those..That's what mine was and I got a great deal and was allowed to re-purchase the regular GM warranty at a very fair price. Some of these get beat up, others skate by with minimal wear..Mine had 5500 miles and little to no wear.

favrefan2k4

My local dealer in Missouri threw me a curveball in a past negotiation over a new truck and trade in value on my old one. They went out to autotrader and Craigslist and found similarly optioned trucks. They then based their trade in value off of them re-selling my truck for the same or $1k-$2k less than those prices they found. Then of course took off their profit they wanted. I always come in super prepared with numbers so my KBB and Black Book numbers did nothing for me and I walked away without a new truck :-) They obviously went out and found private sale prices that were simply people getting out of the loan they were in or similar dire situation. I have the GM family discount from my uncles so to say the least, I was quite hot when they pulled this on me considering I had the new truck price already figured out.