ElEsWon

Anyone know why a '97 to '02 used C5 can be purchased for relatively little money (18k to 24k in my area)? Is that just regular depreciation or do these models have some special maintenance requirements that drive their cost down?

baldurann

iTrader: (15)

Prices on earlier C5's dropped tremendously after the release of the C6. And there weren't any major maintenance issues (that didn't get resolved, anyways) that I can think of.

CHarris

iTrader: (5)

It's always like that at first. The C5's are a relative bargain if you get the right one. Personally, If I had the means and patience for another car I'd get a 99 Fixed Roof Coupe and do a poor boy Z06 treatment on it. I have a C4 now that is too far gone (stripped and modded since 2000) to ever sell unless for parts only. If I was looking now I wouldn't even consider a C4.

For an example of depreciation... when I went to trade in my 2002 Firehawk (a 9.3 on a 10 scale black with chrome wheels and only 19,700 miles) several dealers offered to buy it or give trade in value of $19,000 - $21,000. That was a $36,000 car new and was still under warranty for 6 more months. Buy performance cars in the winter if you can. Don't trade them in in the winter if you can help it. I eventually got $25,000 trade in value for my Hawk but I felt like punching the sales people a few times as the low-balled me several times beginning at $16000.

Cory

SNAKSLYR

The largest problem which I think most will agree with is the incentives given to the 04's to get rid of them. I think the largest incentive was in the 11K range. With that being done, prices of used C5's had to drop. My 01 Z was valued at $37,710 when I bought it, but I paid 27K for it. They gave me the incentive they had on the new C5's.
Why buy a used say 02 coupe for what it was valued at in the mid 30's, when you could step into an 04 coupe for 36K. (Just a real general example)So used prices had to come down to be competitive.
Will

TORCHD U

Yeah, corvettes suck when it comes to the resell

Drive it off the lot and lose 10-20k. lol

CharlieLed

iTrader: (1)

It's interesting that you make the point about the value of the C5 dropping with the introduction of the C6. A guy I work with here in San Diego got a screamin deal on a new 2004 Z06 just prior to the C6 release...he drove the car for 4 months and then sold it for $3K more than he paid for it. In this case it appears that the dealers thought that they were going to get stuck with a bunch of the C5's in inventory so they cleared them out too fast and too cheap.

BizZzatch350

iTrader: (33)

Its perfectaly normal, they will level off, just follow the depreciation curves of the C4, C5s are taking the same downward fall but will kinda level out in the mid teens at some point. They on average will never go sub 10s as long as there is a market base, which for Vettes always will be. That isnt bad really, plenty of cars in the price range depreicate to ****.

Patman

In the six months before I bought my C5 last August I saw the prices drop by a considerable amount (mine would've been $43k instead of $33k CDN for instance) but they have already levelled off since I still see 98s with similar mileage to mine in the Trader for close to the same price I paid for mine.

01'YellowZ06

From what I was told the dealers were giving away the C5's because the amount of C6's they were allotted was based on the amount of C5's they had sold.

SixPak

I agree with the post above about dealers unloading their '04's and driving the prices down. That plus the factory incentives.

The best deals on C5's was 3-6 months ago.

Right now prices have stabilized and are starting to creap up a little.

I'm betting that by the time spring rolls around the prices on used C5's goes up a little more, particularly on the 'verts.

just my .02

smask04C5

iTrader: (1)

purchased a loaded 04 C5 conv. eight months ago for 11k off sticker. prices on remaining 04's have gone up since, few 05's to choose from

LSK

I think the C5 has reached leveled out. 97s and 98s go for high teens/low 20s depending on mileage. I dont see them moving drastically from that price anymore.

Also, tell me what 7 year old car is going for what it sold for new??? Most cars loose half their value by that age anyways.

vettoy

I bought my 04 torch red vert for $17,000 CAD off of sticker price and it is fully loaded. Not to be taken the wrong way but I don't think the C5's will take as hard a depreciation hit as the C4's did. I love the C4 but the C5 is a different animal and not that significantly lesser of a car than the C6. Time will tell but then again, I bought me car because I love it and it really doesn't matter. When I'm ready to trade it I will most likely buy a C6 or ???

Ling_650vette

iTrader: (1)

The C5s will take a depreation close to the C4s, but it wont be as sudden. The C6 is similar, yet more refined than the C5, but that comparison between the C4 and C5 arent nearly as intertwined, so to speak. Thats what'll hold back the C5 depreation, IMO. That and some dealers are marking up their C6 inventories to the point that most people would rather get the C5.

TonyJ

The C5 is a great car and a great value. IMO, the Z06 is an incredible value right now. Remember how well the Impalla SS held it's value? The Grand National? I expect that to happen with the Z06, as well. I think a nice one will always pull $27K or better and for years to come. And if you haven't driven one, you are missing a thrill. The Z06 is the most fun to drive of any car I've ever driven, and I've driven a lot of cars! My Z28 is a lot faster drag car, but if you dangled both sets of keys in front of me, I'd drive the Z06 90% of the time. At the drag strip, I'd drive the Z28...

SJTrance

Well, the only thing which would prevent the Z06 to be as collectible you might think is that the difference is not great as compared to a regular C5. However, with the C6 Z06, the engine as well as the body has been upgraded to stand above the regular C6. However, as said, it's one of the top values for performance and looks out there. I also know that there are MANY C5's out there. I see tons of them every time I'm on the road.

TORCHD U

Im getting out of the Corvette phase I think. The way these cars hold value really sucks. I baught the 99 FRC used for 26k with 60k miles on it, now you can find them all day long with low miles for around 20k.

I MIGHT get a new 06' Z06 but thats a big iffy right now. I love corvettes, but im ready to own something not everyone with a decent job can have.

SJTrance

TORCHD U, I understand what your concerns with the Corvette. I got the car for the performance and the shock value of having a Corvette. However, I know that they are very common but that doesn't bother me. To me, it's more enthusiasts to meet and more aftermarket support. It seems like what you need is a Porsche 911. It seems that you're ready to spend the money for some exclusivity and Porsche owners are very tight knitted. They're not my type of people, but you might do well with them. Check out some forums to see what they are like. I hung around with Porsche people, but I owned a BMW. I found the majority of them to be snobbish...that's coming from a BMW owner! LOL! But the 911 is absolutely a dream to drive. What do you think?

TonyJ

We're going to really miss you...

TORCHD U

LMAO. Nah im not snobbish at all. Ive had a 86',93',and a 99' corvette. I love the car, but they are everywhere now. Out of every car club though I find the corvette guys to be the best, I mean come on, how many other car owners have 'the wave'.

New 911,Z06,Viper,and Supra is what im leaning towards at the moment. Thats why i said im going to wait a little for the Z06.I love the way it looks.

It might just be me being mean right now bc I havnt beenable to drive my C5 in a few day Stock clutch went out