Larry/car

There are dealers who are causing the value of our C6 trade to decrease. This trend started recently with the incentives from GM on the last C6s. Some dealers are offering trade in prices below book value, in the shadow of these GM's incentives. Checking their prices for used C6s shows that they are selling below book to acquire a larger share of the used market. Their profit markup tends to be the same (their bottom line). We as current owners are taking the $6,000 + hit. I'm sure GM is aware of this trend and hopefully dealer allotments (not providing C7 cars to these cut rate dealers) will save our car's value. If C6 trade values are sacrificed the purchase of your C7 will effectively cost thousands more, plus additional sales tax. Some customers might opt for another brand. Think about it, a deal has to be balanced (purchase price and trade allowance) to be good.

2K3Z06

Same ole, same ole, Corvettes depreicate fast. I know some guys in our club that got $12,000 off. Good if your a buyer, bad if your a owner.

everyone talks about the c7 markup, hell, if you wait 6 months they will be discounting. it a chevy after all. not a ferrari.

gthal

What a dealer offers for a trade in value is OFTEN below book value... this is the case across manufacturers. To me, this is simply supply and demand. The dealer may not be offering as much for a C6 as they may be worried it will be more difficult to move quickly with the C7 coming. Therefore, they want to pay less which would help with their holding costs. If dealers thought they could sell C6s they take on trade in a timely way and for a decent margin, they would be willing to pay more for the car. Also, IMO it is naive to think manufacturers incentives on new cars doesn't impact used car prices... it has to... the closer the price gap between a new and used car, the harder it is to sell the used car.

We may not like the trend but it is purely supply/demand IMO. If a cut rate dealer offers too low of a trade in price, go to a different dealer. If all dealers are offering the same price, that is because they can't sell the C6 at the same price (or will need to hold it in inventory longer) than they use to be able to do. My quick scan of used C6 pricing is that the retail values have, in fact, come down over the last year (a friend just picked up a 2011 GS with almost no mileage for $39,000)... this HAS to translate int trade in value. In fact, I would have expected this trend to start with the launch of the C7 (as it did for BMW when they replaced the E46 with the E92, etc).

Remember, you could always sell the car yourself and get a higher price. Trading a car in is like going to a convenience store... you get less value for the convenience. Selling the car privately is a pain in the butt but you also will get more if you aren't in a hurry to sell.

Shurshot

Less then 1% of car purchases ever turn out to be good investments

The only thing that will stop the fall of C6 prices would be some sort of failure with the new C7 that would involve setting back production dates.

C6 owners who gambled that their cars would not take a big hit with the new C7 coming out with all of those new C6 cars still sitting on lots, lost their gamble.

The situation is only going to get worse for those selling used C6 models, and the only hope lies in a slow down of depreciation that is going to be a ways off from happening. Meanwhile expect the accelerated rate of C6 depreciation to continue.

IMO either continue to be satisfied with a C6's ability to provide owner satisfaction (they are good cars) or cut your losses and sell sooner rather than later

Larry/car

My last trade I got blue book value and a few, well more than a few, dollars off MSRP. Time will tell. I am not giving away the C6. If the value of the C6 trends down, no need for it to be pampered, like many inducing myself have.

BWF07

So when have most dealers actually giving trade-in value. They low ball you when you go to trade. It is up to you to refuse the offer.

ride250s

The dealers are there to make as much money as they can. You got to fight with them a little to get a good price, and if they won't budge, well... you have a few thousand other Chevrolet Dealers that might!


Also, I would expect the C6 to take a big dip, because the C7 appears to be a dramatically improved car with many more bells and whistles, which shouldn't cost much more than the current MSRP.

There for, C7 = Better Value. For C6 to have a proportional good value for the money, that price has to fall.

Larry/car

You have to work the market to get that special deal. I have started to use my C6 a lot more, might a well.

texvette2

first C7 driven off the lot is an old car in the dealers eye. Drive around the corner
come back probably lose 20%

toxin440

meh - 2008 Z06 here -- only owe 14K on it, so I have ZERO plans to trade in/on/up or anything for that matter

I might take a spin in a C7 when they hit dealer lots -- but no plans to buy. Mine is faster anyways

Jinx

Why would customers opt for another brand? Will they get more for their C6 if they trade it in for another brand? Does that magically make the C6 worth more? Or do you mean there are some customers who can't afford a C7 unless the value of their C6 is propped up and they'll buy something less? I suspect they'd sooner keep their C6 than get a lesser car....

.Jinx

flange

Last time I checked, here in the US, market forces determine pricing, not a book. many of the very same owners who are taking advantage of 15% or more off MSRP on new vettes are trading up. Believe it or not, they are allowed to say no to dealers offers. They are choosing to take the deals. If the C6 were as hot as everyone thinks, many would be sold at above the "book price". dont see it happening, especially round these parts where most vettes are hiding in garages these days until spring.
Want to see the value? simple, list it for sale and see what is offered. Market forces will likely surprise you.

Davidl81

Book values are always a guess anyway. When most dealers look at a trade in they look at what a similar car has sold at auction on average. That way the dealer knows what they could wholesale it for not to take a loss on the trade. Like someone said earlier the fact that a new C6 is selling with 12k plus off of MSRP that will of course effect the trade in value.

crabman

As if this is a surprise or something? The outgoing cars value tanking as the new model is ready to hit is par for the course with any car. Not universal but expected for sure. This can still be a good time to buy with a car like the C6 though because despite its age its still a great car which can now be bought new at low mileage used prices.

Woot

Dumbest thread ever. OP seems to think he knows something about the used car market but he couldn't be further off. Dealers don't control supply and demand or prices, they just react to the market that is created by production levels and the desirability of the car. He sounds like a McDonald's employee trying to play economist.

Gary '09 C6

It's not the dealers, it's the market & the economy.

If Chevy could sell all their C6s without incentives, believe me they would...

drive your car & enjoy it !

Never-Enough

No, the C6 is getting older & the C7 is here. That is why it goes down.

jr3

This may sound crazy to you, but the dealer is SUPPOSE to try and own the car BELOW market value to MAKE $$$ when he sells it. They dealer is NOT there to make sure you break even on your car deals. Are you going to pay the dealers hundred$ of thousand$ of dollars in bills he has to pay if he makes sure you break even on your car deals? Nope. Everyone knows 99% of all cars are worth less and less money after you buy them. Its just the way it is. Got to pay to play.

Bill17601

You can buy really clean low mileage C5's in the teens. The market adjust and new owners get the fever. SAVE THE WAVE

Larry/car

You have no idea how to purchase a car and probably pay way over MSRP. Economist: YES, purchased quite a few new cars, know the percentages and use them to my advantage. Trying to inform people not to give their current car away. Until the actual cost of the C7 is announced we really have no idea what the value of the C6 is going to remain at. If the cost of the C7 is prohibitive the C6's demand will remain high as will the value. Now go away!!!