[1fujifilm]

Originally Posted by reeper

Late model year Rebates and Incentives killed it for you guys.

Yep,
I bought mine in October of 2016 and got 12.5 off a 46k msrp. New 1ss vert for 33.5 plus tax and title.

Bear

[Factorypilot]

Originally Posted by 1fujifilm

Yep,
I bought mine in October of 2016 and got 12.5 off a 46k msrp. New 1ss vert for 33.5 plus tax and title.

Bear

Smart.

[Factorypilot]

Originally Posted by dmau9600

A major factor that contributes to depreciation is how much $$ you optioned the car, and the range of the MSRP price across trims. Higher optioned cars tend to take a larger hit to value, because they are above the average price of the car.

For example, if a base Camaro SS is ~$36k, and a more loaded model is ~$45k, then the average sale price is going to be somewhere in the middle. So, if a dealer or auction is analyzing average used prices on Camaro SS', the value of the more loaded models will be brought down by the sales of the lower-end models. This holds particularly true in the used market, where buyers are shopping for deals, and not custom ordering the car.

Case-in-point - I bought a 2015 M3 a couple years ago. I ordered a stripped-down base model at ~$65k. Most M3 buyers option the cars closer to $80-90k. So, there is a very big spread in the MSRP, and most are optioned at the higher end. One year later, I was able to resell the base M3 for $64,500k, because the higher average sale price of the loaded models boosted the average price of the car across the range.

The M3 is a bit more extreme example then the Camaro, but you get the point.

Yes, I understand that options and trims do make a difference even in the used market, but those options lose more of their value then the base MSRP of the car.

Great insights here. This also helps me to understand how to strategically purchase next time...

[CamaroBody]

I noticed that California Camaros tend to fetch higher prices. Before I purchased my 2016 2SS, the cheapest I could find a 5th gen 2SS was approximately 27k (most going for low 30's).

On average I put 7,500 miles on my car a year. With a MSRP of 48k (I purchased for 43k + tax) and I anticipate after 5 years to receive at least 30k.

[Racerman27410]

i wasnt even really looking for a new car when i ran across the deal on my six month old 2016 Summit white 2SS manual with light gray interior, NPP and nav.

The service manager at a local dealer flips cars every 5K miles and i was in the right place at the right time to pick the 44.5K (sticker) for 30K (33K OTD) Not a nick or scratch anywhere on it and lifetime MPG of better than 21 so i know he hadnt been dogging it.
Anyway in reference to the OP... the only reason i purchased was because the seller was willing to take that huge hit. ( i dont know what GM employees pay but i know what they would have sold me a new one for) Also it will be easier for me to drive hard on the track since its not " new" :-)


Hopefully i can drive the car for a couple of years with minimal depreciation per year.... we shall see how the value holds from this point forward.

[Ian SS]

Expect the value to plateau. 20% killed values pretty quickly. I had only lost about 2-3 grand after 6 months (got mine early early 2016). Once the 16-20% off hit, Book plummeted. Expect it to hold around the 30k range for a while though.

[ron scubadiver]

Used car values for 2016 SS have been steady for the last 2 months. Probably the deep discounts in the fall knocked used prices for a loop. That's over now, so things are steady.

[parish8]

Originally Posted by reeper

Late model year Rebates and Incentives killed it for you guys.

yep. a buddy of mine picked up a new 2ss sticker of something like 45k for 34k.

[Cdflyer]

Just a thought, but who buys a new car only to worry about what they're going to sell it for? Buying a new car is the worst possible choice financially. Buying a year old car with low miles is smart. Leases are good if you always want the latest and greatest. Never buy new. You will always take a hit as soon as you sign the paperwork. If you want an investment car, look older. Lots older.

I bought my car new simply because I've always wanted a new Camaro. I bought my wife's Jeep because she always wanted a Jeep. The Jeep will probably be driven until the body falls off. The Camaro isn't going anywhere because in the long run, I don't need anything more then I have. If I get bored with the HP levels....I'll just add some more. Easy fix.

[Factorypilot]

Originally Posted by Cdflyer

Just a thought, but who buys a new car only to worry about what they're going to sell it for? Buying a new car is the worst possible choice financially. Buying a year old car with low miles is smart. Leases are good if you always want the latest and greatest. Never buy new. You will always take a hit as soon as you sign the paperwork. If you want an investment car, look older. Lots older.

I bought my car new simply because I've always wanted a new Camaro. I bought my wife's Jeep because she always wanted a Jeep. The Jeep will probably be driven until the body falls off. The Camaro isn't going anywhere because in the long run, I don't need anything more then I have. If I get bored with the HP levels....I'll just add some more. Easy fix.

No arguments here friend!

[wjones14]

Originally Posted by dmau9600

Case-in-point - I bought a 2015 M3 a couple years ago. I ordered a stripped-down base model at ~$65k. Most M3 buyers option the cars closer to $80-90k. So, there is a very big spread in the MSRP, and most are optioned at the higher end. One year later, I was able to resell the base M3 for $64,500k, because the higher average sale price of the loaded models boosted the average price of the car across the range.

I don't get it. Why would someone buy your one year old used 2015 M3 for $64,500, when they could buy a brand new 2016 M3 for $65,000 like you did?

[c4racer]

Originally Posted by 1fujifilm

Yep,
I bought mine in October of 2016 and got 12.5 off a 46k msrp. New 1ss vert for 33.5 plus tax and title.

Bear

Similar story got $9K off a 45K sticker on a 1SS vert manual.
In Sept.

[c4racer]

Originally Posted by 1fujifilm

Yep,
I bought mine in October of 2016 and got 12.5 off a 46k msrp. New 1ss vert for 33.5 plus tax and title.

Bear

Originally Posted by wjones14

I don't get it. Why would someone buy your one year old used 2015 M3 for $64,500, when they could buy a brand new 2016 M3 for $65,000 like you did?

Because unless you order one and get a build date and wait 6 months, you won't find one on a dealers lot. They don't order them stripped like that. And bmw doesn't make that many M cars and the dealers only get so much allocation. So it's a whole different scenario than a camaro

But the point on price spread applies to all cars to some degree.

[camaro5]

Just read this:

The Top 12 Cars to Buy Used, Not New

Rank Model % Price Difference Between New and 1-Year-Old Used $ Price Difference Between New and 1-Year-Old Used
1 FIAT 500L -34.6% -$8,096
2 Lincoln MKS -34.5% -$16,039
3 Volvo S60 -34.4% -$14,204
4 Kia Cadenza -34.3% -$12,940
5 Mercedes C250 -34.3% -$15,247
6 Nissan Maxima -34.0% -$12,469
7 Lincoln MKZ + MKZ Hybrid -33.8% -$14,177
8 Jaguar XF -32.3% -$19,966
9 FIAT 500 -31.9% -$6,099
10 Cadillac CTS -31.8% -$13,351
11 Chrysler 300 -31.7% -$11,525
12 Buick Regal -31.2% -$10,117

The cars that experienced the greatest changes in price tended to be those that are less popular, especially luxury brands.

The presence of six luxury brands on the list is not surprising – luxury models often lose value initially faster than non-luxury cars.

http://blog.iseecars.com/2016/10/04/...-used-not-new/