Goonie

http://racine.craigslist.org/cto/2325381764.html

http://chicago.craigslist.org/nwc/cto/2356292381.html


lol

ssnovaturbo

iTrader: (19)

Depends on the area, but yes. In fact those prices actually seem a little high. I bought mine in sept. and gave 10,500 with 97k. Had to fly to NY to get it though

DMM

Damn...I hope these guys have a pretty bad crack habit to let them go for 15k.

ssnovaturbo

iTrader: (19)

Neither one of those would bring that on ebay with 100k.

MIAdragon

iTrader: (6)

I think you could do better than either.

itsslow98

iTrader: (18)

Yea they are both right at the 100k mark which scares the **** out of people for some reason.

munsonbw

iTrader: (1)

It seems a lot of folks don't really understand why high mile cars are worth less. Sometimes cars go 200k with only oil changes for maintenance, but in my experience that is rare. The fact is that as cars get higher in miles more things are likely to break or are worn and need replaced. That doesn't mean the car needs to be taken to the scrap yard, but these things do cost money which reduces their value to the market. I bought a V with 103k on it and I have had to replace the water pump, the exhaust has a cracked weld, and it looks like it may have an alignment issue. It also has a clunk in the front suspension that is, no doubt, some bushing or mount announcing it has worn out. None of these make the car worn out, but odds are if I bought a low mile car I would not have to worry about these items. To me, that is what sets the value of a high mile car: the increased likelihood of having to replace parts.

I happen to do most of the work on my cars, so the reduced value of high mile cars works to my advantage. If you don't have the tools or knowledge I can certainly understand the need to offset the price of paying someone by reducing the purchase price by thousands, not hundreds of dollars.

jerrycecco

so @ 100k miles a $50k (msrp in 2004) car is now $15k in 6yrs
so the new 2011 CTS-V in 2016 will be $20k (maybe less because the cost of repairs)
and in 2016 a new CTS-V will be "only" $100k++
.....welcome to the new order...
I have looked at replacing the V with newer cars at 2x & 3x the price with no luck

My goal is to make my sub $15k car out-perform other newer cars at 3x the price.
I really enjoy shocking people at open track events...

T/A Johnson

I've been looking at ebay, autotrader and craigslist for 3 years now thinking about pulling the trigger on a purchase. 3 years ago you could find a 04/05 CTS-V under 100k for 18K sometimes lower. So yes these prices are for real. And I agree with MIAdragon, you can do better if you shop around. Maybe even without the racer boy stripes too.

munsonbw

iTrader: (1)

I am not 100% sure what you are getting at, jerrycecco, but I think you are referring to the trend that cars keep getting exponentially more costly for little practical gain. Don't get me wrong I like the new V, but I have no need for a gas guzzling 550 hp beast. I use my V as a daily driver and it is the perfect fit. Powerful enough, fast enough, decent fuel economy, and an age appropriate car for me. When mine gets retired I am not sure what I would get. A lower mile version of the same car?

jerrycecco

I'm trying to say that the market price of the V1 is pushed down what I think too low for the performance compared to a 2011 V. I think the V2 is great too but when I look at $15k for a V1 vs. $70k+ for a V2 that's a BIG delta
I can make my V1 faster than a V2 without spending the $55k+ difference.

The V1 with it's "simpler" Vette motor will have a long aftermarket life.
I can drop in a LS2 or LS3 motor in my car for $5k and drive it for another 150k miles. where as a new LSA in a new V2 is $15k??

blk04V

iTrader: (1)

I picked up mine (an '04) 2 years ago for $17k w/ only 42k miles. I just sold it for $16k w/ 88k miles. I don't think I did too bad - I had it listed for $16.5 and that was ONLY because they seldom move for anything more than that these days. And for what It's worth, the only mods I left on the car that I purchased when I owned it were the clutch, tune (no kidding), and motor mounts.

KamaSutra

The V2 completely destroyed any high resale value the V1 will ever have.

siggyfreud

iTrader: (1)

As mentioned in another post, I was fishing with my CTS-V on craigslist at $21k. Its an 04 with 40k miles.

I received 2 calls in 30 minutes, and another 4 calls over the next three days. One guy told me he had 20.5k to spend on it should I decide to sell.

I think it depends on the market you're in. Here, there can be a 2-3 month gap between when CTS-V's appear on Craigslist. Even longer between when well-kept ones do.

munsonbw

iTrader: (1)

I think this may truly be the case, but you would have thought it to be the opposite. For me, a V2 is out of my comfort zone for car pricing and I am sure I am not the only one. Knowing the V2 is so much more expensive I would have estimated V1 prices to be going up in relative terms. As the V1 start really getting long in the tooth how many people are going to step up in price and complexity for the V2? Car values are very dynamic until they really hit the bottom of the barrel or are considered classics, so who knows.

I understand now, jerrycecco, and I agree. If it is bang for the buck I think an old, but cared for car with aftermarket goodies will almost always beat a car 1-2 years old. I had considered the E39 M5, but after reading about the car's reliability I decided that a good old American V8 could not be beat for reliability and ultimate longevity. I am curious to see how the V2 motor stands up to 100k.

jerrycecco

This is unfortunately true
The thing the concerns me about V2will it become like the 2004ish M3.
Do you want to buy a either car that's out of warranty?

I've seen 2004ish M3 under 50k miles and others OVER 50k miles with HUGE price difference, (in and out of warranty coverage)
Q: what's a M3 tranny rebuild by BMW about $5k, motor $13k?
so that's the value of a M3 out of warranty that needs a motor & tranny? zero?

So I think the same MIGHT be true for the V2 in the future.
a guy making a decent salary looking @ 2010 V2 @ 50k miles,
he's he going to pay $38k for it and the car has no warranty? doubt it...

Someone said earlier, the more complicated they make newer/future cars the less valued the car become approaching no warranty coverage.

We keep forgetting, most cars are a deprecating asset...

SoCA04V

FWIW I bought my 04V with 60k miles on it for 16k last year...

Had existing GMPP warranty to 85k miles
Powder coated wheels
Short Shifter
Tint
upgraded stereo
Ground Control Coilovers
New Tires
Freshly rebuilt Transmission

Agreed that the V2 is killing re-sale values, but also agree cars are a depreciating asset. I am currently waiting for the V2's to be in the mid 30k range before I pull the trigger on one.

liqidvenom

iTrader: (2)

the V1 lacking an auto option is hurting its resale more then the v2. That and it had a **** poor reputation for failing drivetrains.

the v2 hasnt had any knocks and im sure they will do better resale then a v1.

wcryan

iTrader: (2)

^
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That

TurboGibbs

iTrader: (6)

I'm sure the used V2's coming on the market is killing the V1 value. Honestly, I was going to purchase a V1 3 years ago but the whole rear end issues killed it for me (and $25k+ price).
I picked up a 04 with 06 rear and a few touches with 92k miles for $15k 5 months ago.
Then you could get them for $12-14k with just over 100k miles.