Jtm2085

iTrader: (1)

I was in the same situation as you. I found a very rare 02 B4C M6 with 19k that was absolutely pristine. The 65 year old man had a crate ls6 put in as well as a GMMG catback. I had to have the car to say the least... The credit union told me if I bought a car from a dealer with under 100k miles I could finance it for 7 years regardless of the year. If I bought a car from a individual it couldn't be more than 3 years old and I could finance it for 3 years. Makes zero sense; but I had a friend with a dealer license buy the car and sell it to me. We looked at all sources (KBB,Edmunds,NADA ect." and showed them the highest value and they accepted.

Firebrian

$16K is a fair price for the car the OP has presented. I'd put a 2002 SS with 8K to 15K miles in the $15K to $17K price range. SLP options and sweeter condition can push it to the top of that range. This one being essentially 100% stock down to the orig tires and air intake is a sweet ride. Figure you're going to spend another $600 somewhat soon to replace those 13 year old tires.

What's ironic is that a thrashed 100K mile SS will have a fairly accurate book value which you can then get a loan on. Unfortunately, that car will be far less reliable and have numerous issues down the road unless they've already been addressed by previous owners. The book values are typically thousands of dollars low on any 4th Gen LS-1 F body with <50K miles. And it gets worse the lower the miles go. I figure every 10,000 miles under 50K and down to 10K is another $1K in value. The best value in an F Body is either an original and well kept 10K to 60K mile car, or a higher mileage car where an enthusiast already went through and fixed numerous issues and updated/overhauled most of the drive train.

anotherreject04

iTrader: (4)

Ive been looking at that car too, its a little far for me, only way i would seriously consider it is if they dropped the price a few grand. I found a 2006 gto at a dealer, it is priced several thousand over nada value, i told them i would be interested if they came down in price close to book value, they basically laughed in my face, 2 months later the car is still sitting on the lot. In all seriousness the only people paying these prices for these cars are idiots with more cash then brains. Every f-body or gto i have looked at over the last few months (about a dozen) have all had typical issued that needed attention and dealers still wont budge. Private sellers are just as bad because people have sentimental attachment or think the car is a "classic".
Still using this 2002 ss as an example, for 5 grand more you could find a 5th gen ss, im not starting a 5th gen debate im just speaking in money terms, a bank will finance a 5th gen without a second of thought compared to financing a 4th gen.