I am currently toying around with the idea of selling my 2001 Formula A4 w/ 3.23. You guys have always been a wealth of info so I figured I would start here first.

Firstly, I absolutely love the car but I feel it is just wasting away. It has 65,000 miles and 52,000 of them were between 2001 and 2005. It also hasn't seen rain since 2005. I am the original owner.

No major modifications. I upgraded the suspension over time because I hated the handling from the get go.

Current mods:

SLP cai
hpp3 for shift firmness and 160 degree thermostat
bilstein/eibach combo
flowmaster exhaust
slp tower brace
slp front sway bar
bmr rear sway bar
NO engine modifications
slight door cracks (of course)
replaced the sail panel because of paint bubbles with the carbon fiber replacement from magg performance.
paint is flawless except for a few tiny nicks in the front bumper.
I recently replaced both stock cats, passenger side went bad, with bolt on magnaflow cats from the ws6 store.

It seems like it is very difficult to find a reputable honest mechanic near Portland Oregon. All three mechanics I know personally have retired. Both of my boys, ages 9 and 12, are into cars and they are twisting my arm to get a C8, which is the ONLY car I would even think about getting as a replacement. So, this is more like myself throwing out a feeler to see approximately what you guys think it might be worth. Currently, I have it insured through hagerty for $19k and they occasionally email me to bump of the cars value over the last 2 years. I would potentially love to sell it to someone who would appreciate it as much as I have. It would be a little less stressful with having a new car, under warranty, and also getting something before all that is left are EVs.

Thank you guys in advance for any insight

 

Hard to nail down values at this point with so much inflation and regional variance, perhaps someone from your area will have a better idea. But I can offer some insight on this...

I wouldn't call it "wasting away" at all, not as long as you still enjoy having it as a limited use vehicle. FWIW, I've only driven my '98 ~7,000 miles since 2005, and the last time it even saw water from a garden hose was Saturday, April 2, 2005. But I feel zero temptation to sell it, as I never planned to use it much in the first place; just shows, events, and the occasional fair weather cruise.

These cars are approaching antique status now, they are not really comparable to a C8 on any level (would sort of be like comparing a late '70s C3 to your 2001 Formula, just apples to oranges so not necessarily better or worse as they represent totally different eras and provide an entirely different experience). Any chance you could swing having them both? Whatever the actual market value of your Formula it's not going to put much of a dent in the cost of a new C8, but maybe the issue is more related to storage and such.

 

It is hard to gauge pricing right now. Original owner cars bring added value in my opinion as there will be no mysteries about use or the maintenance history to a prospective buyer. As an original owner also, I have every receipt and even a waxing and convertible top care schedule for my 2001. My Hagerty policy is for $16,500 and they suggested I should head 'up' as well. Seeing that yours and mine are similar with age, mileage, etc...I seriously think you should get $15,000 at the very lowest price at this moment in time as long as everything is working.. If your Formula needs tires (age or whatever), maybe a little lower. I see no negatives with your car unless the exhaust is too loud. I'm sensitive to that, but that's me.

Good luck with your decision.

 

I greatly appreciate the feedback. Unfortunately, I do not have room for both. I will push back a little about the cost not making a dent in the purchase of a C8. I would be looking at a 1lt base model. Nothing crazy. It's a lot of car for $65000. I wouldn't even know where to begin to communicate with someone locally about car value/worth. I live in a state where every other car is a Subaru. Also, I couldn't imagine what a trade in value would be. I'm assuming any offer from a dealership would be so low that it would make me just walk out.

Again, appreciate the feedback!

 

I was just thinking of the crazy dealer mark-ups in my area, seems like $85-100k is where the handful of C8s have fallen that I know were purchased locally. Have the mark-ups come down? I know they were out of control last year, but maybe that's not an issue if you place a factory-direct order and are willing to wait? I have no interest in buying a C8 personally so I haven't looked into this much, other than the couple of stories from local guys I know who have bought them.

"Trade-in" value would likely be disgusting. LOL. Right now, the most popular/desirable of these cars are WS6 Trans Am models with an M6 transmission (or SS Camaro with an M6 on the Chevy side), the further you get from that, the lower their desirability (thus value) will be. With an auto, ~65k miles and being a base Formula I think the $15k number mentioned above is probably closer to a ceiling than a minimum, at least in my area. But that number could be higher if cost of living is higher in your area, or lower if demand is very low in your area (which means that someone will have to travel to buy it, or have it shipped; both of which add to their acquisition costs/difficulties and will likely cause them to make a lower offer).

FWIW, I'm currently considering buying another base LS1 Z28 with an auto, well optioned (t-tops, leather, 3.23, CD) and only 22k miles with an $18k asking price. Nobody has quickly snatched this car up at that price, so it's certainly not undervalued for a base model auto (which is actually what I want). With your Formula having 3 times more mileage and being otherwise comparable as an auto/base model V8, I couldn't really see it going much beyond $15k even in today's market (again, depending on regional adjustment).

 

Agreed. I'd ask $16k and take $15. I wouldn't give the car away. Sounds too nice. I toy with selling my SS because I rarely drive it but I'd need a good number to let her go.

 

this.

 

I'd estimate a value of between 13-17K depending on how you chose to sell it.

 

Thanks for all the feedback! It sounds like $15k is the magic number. With my limited research before posting, I was thinking anywhere between $16k and $19k. Now I have to decide if I really want to shop it around and how to go about it. This is uncharted waters for me lol

 

Remember, you can only take one child at a time in the C8. My kids love the C8, but I can pick them up from school in the F-Body.

 

Around 15. The bird is 10x cooler than the c8....

 

I concur 15 makes sense...

Every other car in your state is a Subaru, eh? VT resident by chance?

 

LOL! Located just outside of Portland Oregon.

 

14k to 16K