NC01TA

I think about this when I see ultra low mileage examples pop up. Then I wonder if someone actually put away a 'new' car right off the dealership lot with under 50 miles on the odometer and the window sticker still on the car. Add to that, the color you would most want, whether it be SOM or red or black, etc.... I think I would be tempted to pay full sticker if that scenario arose, especially with my perfect color combo. It's as if I could buy my car all over again. Sitting doesn't seem to hurt these cars as much as the cars of the 1980's and before. That's been my experience anyway. I don't think many will agree with me but it's fun to think about.

OKSS

I would never pay sticker price for something I didn't purchase from the dealership new. That being said, if it was the EXACT car i was looking for (color, trans., options, etc.) I could see myself coming within $1k of that. Especially if it was a low production model, color, etc.

I just have this thing about not paying full price for anything.

RPM WS6

iTrader: (3)

I actually did buy two of these cars brand new ('99 Z28, '00 TA WS6), but didn't pay full sticker price back then for either of those.

I definitely agree that these cars do very well in a limited use/garage queen role, assuming proper storage environment and proper care for the application. The trouble is that "limited use" isn't quite the same as "no use", and with under 50 miles in 16+ years I'd have to call that "no use". At that point, my biggest concerns would be the fuel system, and the fact that the engine wasn't fully broken in prior to two decades of storage. That's a long time for rings and valve springs to sit in one position, especially stuff that was never broken in; much more serious than just sitting for 6 months of winter storage, or even a few years while other life events put the car on the back burner or something like this. I guess it wouldn't matter if the intent was to basically never drive the car, just trailer it to shows and such, but assuming the intent is to start driving it as a limited use vehicle, mechanical condition could be a concern (admittedly, some of this would also depend on storage conditions and what sort of precautions were taken).

Part of what you're paying for with a brand new vehicle is the warranty, plus all fresh OEM parts. In this case, the warranty is long gone and many of the parts don't really count as "fresh" in the new car sense any longer.

When I bought my current '98 Z28 it was the *exact* car I wish I'd bought back in '99, it couldn't have been any better for my preferences (the '99 Z28 I bought new wasn't really optioned exactly the way I wanted, it was the end of the model year and I took what they had because of the factory incentive - settling for certain options such as color). Its original sticker price was just over $25k with options and destination. When I bought it in 2004, it had 11k miles and had been stored in a heated garage, treated and maintained like a proper limited use vehicle, and was basically as nice as any example with such mileage could be; I paid $14k to the original owner for the car plus full documentation going back to day one (even the first gas receipt!) To be honest, as a six year old used car purchase from a private party, the difference between 11k miles and 50 miles would not have been worth an extra 80%, or ~$11,000, (difference between original sticker price and what I paid) to me, as the car was already so nice and I could have almost bought two of them for the original MSRP. For me, the same is true today; I'd rather pay a whole bunch less for an excellent one with four or very low five-digit mileage than pay MSRP for one that's still at delivery mileage but has been sitting completely unused for ~20 years.

With all that said, if the situation was a bit different and GM were still building these cars today, exactly as they were (no current-era gadgets), OEM-quality fresh parts and just assembled, my thoughts on value/personal price limit would be different.

AnotherWs6

iTrader: (17)

Your income level has to be taken into account. If I made a few million a year I'd pay 40 grand or more no problem if it's what I wanted. But I don't. Lol, I don't even technically have a job right now. But still, if you asked me two weeks ago I'd probably say not interested. Let somebody who has the space and will power to park it and not drive it. Cuz I'd drive it and thereby destroy something historical, to me anyway.

Then again, Hardbones bought a car with 500 miles on it, sold it when it had a couple of thousand miles or so as I recall and then this happened. Scroll through the page and remember that this was practically a brand new car when the current owner purchased it. And dove right in.... https://ls1tech.com/forums/pontiac-f...old-car-5.html

NC01TA

I guess polls are passe. You don't have to write anything, just click on a choice. 200 views and 8 votes. Maybe no one has thoughts about this topic, or I have too much time on my hands.

OKSS

Income is a major factor in dealing with any high dollar vehicle that is older. Most people cannot afford a $30k+ 15+ year old car without getting a loan, and banks will not loan more than than around 80% of the NADA value. Since collectors aren't really eyeing the 4th gens yet, it's somewhat rare to find people who can buy the nicer, low milege, low production models.

Jason E

I basically want a brand new Firehawk in 3 years when I have my CTS V paid for. I'll pay up to $25k for the right one if need be...it'll have to be an 02, M6, and have under 20k miles. The way I look at it, its a car I'll keep for the rest of my life, so I will pay for the right one.

Anything less than a Firehawk, to me is worth no more than $20k...and that would have to be a 35th SS, or the perfect single digit mileage WS6...and even then I'd rather spend the $5k more for the Hawk.

Puck

iTrader: (17)

IMO the allure of these cars are how fast you can go for how cheap you are "all-in". Purchasing a super low mile over-priced example defeats the purpose of that, so I wouldn't even be interested...

I would be MUCH more interested with a clean, stockish, ~100-125k mile F-body for ~$6k or so that I can drop a few grand into and have a fun 11 second ride for dirt cheap. Not many other vehicles can get you as fast as an F-body for as cheap while still being a comfortable street driveable platform. Sure, you could drop a 5.3 in an old tin can Fox Body and go crazy fast for pennies, but that is basically a drag only platform that would be hard to live with on a daily basis due to the terrible interior and lack of modern features.

This is an even bigger point now then 5 years ago, since a lot of other nice cars are crazy cheap these days too, like C5s. That makes a clean low mileage f-body an even harder sell. It would be real hard to pay $18-20k for an F-body if you put it side by side with a same priced C5Z!

Only exception would be a black 93 Firehawk with under 10k miles, since I think those are by far the coolest, best looking 4th gen F-body of any kind and any year. I guess if I had a ton of disposable income I would pay $15-20k for one of those just to keep it stored most of its life and baby it . As nice as they are I don't personally consider a 4th gen SS or WS6 to ever be a collectible or an appreciating asset anytime soon since so many were made. A clean low miles Firehawk just might be worth something in a handful of years though!

Exactly. Bit of a personal story:

When I started Vette shopping at the end of last year, I was on the lookout for my dream car - a low miles, black, 03-04 C5Z, preferably already Procharged. Would be a car I kept for the rest of my life, so I actually wanted one already modded and ready to drive. I saved up until I had $10k cash to put down, and eventually found the PERFECT one right here on this forum. Had like 34k miles, shop installed Procharger, absolutely beautiful 03 C5Z. I went straight to my bank with $10k and a 750+ credit score to get an approval and my rate was STILL like 8% on a ~$23k car that I had damn near 50% down payment for . I am used to sub 5% on used vehicles, but banks don't like 15+ year old cars no matter how good your credit or how much you make.

Since this was my literal dream car, and I was finally able to afford one(no car payment, no bike payment, no kids, and recently moved and mortgage was way less than I was paying rent), I was still gonna do it...but an unexpected business expense cost me almost half of my down payment since I refused to finance the repair. I thought it would be no big deal, only expecting just a higher payment and maybe a couple percent higher APR but I was shocked to find out that my bank wouldn't approve me AT ALL with only $5k down. Not even at a high APR...just a "Nope, sorry". I was pissed. They told me to stick to 10 years max age, so I turned to my second choice the 08+ C6 and that same $5k down that was no approval at all on the C5Z got me 5% on an '09 C6 that was $3k more expensive with only 18k miles. That is a great example on the huge difference between an older and newer car when dealing with banks, even if they are similarly priced($3k difference in this case).

Basically, like you said...these cars are at best 16 years old now. Very slim chance of financing that, and it will be hard to find someone willing to dump 15-20k to purchase one outright vs putting that same 15-20k down on something much much newer and nicer.