Anyone worried about the value drop? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

skirush · 08-13-2013, 06:47 PM

I have a pretty basic Camaro...a 1LS. I bought it because it was what I could afford with wanting a brand new car. Now that the 2014's are coming out, I'm somewhat bummed because I envision the value of my car plummeting.

Just last night a friend from work spent the night with us and was shocked at what my car cost. People seriously think I paid double for the car than I did. Don't get me wrong, I really like my car, but I worried about the potential value drop, perhaps even more than owners of SS's and such, because my car is so basic. I mean the desirability factor is definitely going to decrease when you can get a 2014 LS for the same price as what I paid for my 2013. Maybe I wouldn't be as bummed if I bought the car new in 2010 and enjoyed a few years with the car before a revision. I've only owned it for about 8 months so an update now seems soon for me.

This might be a dumb question, but I wonder if the owners of the 6th Gen Camaros see their cars are a completely different animal...so much so that it will spawn a "camaro6" forum.

Anyone else with more basic Camaros worried about this? Or, should I just say F&%# it and just enjoy the car as is...just a 2013...

Baldwin feeder · 08-13-2013, 06:52 PM

One of the reasons I was so tempted to get a 1LS was due to prevention of a value drop. Basic models tend to lose a lesser percent of their value over time than loaded models. That and I like basic cars. If I could have gotten my 1SS without MyLink I would have turns out I love the LS3 more than I dislike MyLink.

nyrfan · 08-13-2013, 06:53 PM

No! The 14's will make the prior years drop no more or less then they would anyway. Cars are not investments, they will drop.

And yes, there will be a camaro6.

skibik · 08-13-2013, 06:56 PM

You pretty much well have to enjoy it because the day you took possession and drove it off the lot that 1LS lost about $3k in value. Last year I bought a brand new 1LT and figured I lost about $4k when I drove it off the lot. If you want to see why I say that amount head back to a dealer and ask what they will give you for trade in. It will about make you cry. I told myself that I was going to buy what I call new/used, a current year with low miles, around 10k miles. Ended up buying brand new I just enjoy it and not think about it. I normally keep a car for around 7 to 8 years and then trade up.

Dean.

dixonk · 08-13-2013, 07:00 PM

I have never ever bought a possession with the mindset of it retaining any value. Cars are not an investment and I don't view them as collectors items either. I bought one to drive the piss out of it. In 10 years my son will get it as a hand me down if it lasts that long. Then he will drive the piss out of it.

upflying · 08-13-2013, 07:00 PM

read and weep...
http://www.edmunds.com/car-buying/ho...fographic.html

RollaMo · 08-13-2013, 07:11 PM

New cars depreciate faster than you can pay on the loan.

Anybody putting the minimum or zero down on a car, will be upside down on the loan if they try to trade within the first 3-4 years.

tonyko1 · 08-13-2013, 07:14 PM

I didn't buy my car for the investment, just pure pleasure. Actually, buying a 3-5yr old car is a great deal, especially if you buy one you know wasn't beat on and driven by an older person. For example, Lexus models or Caddys. I even hear tell that <10yr old Corvettes also are a deal.

95birdible · 08-13-2013, 07:21 PM

I don't buy that my SS Vert will be worth 15 grand after year 5 of ownership. It stickered for 41k I bought it for 36,500. In 5 years the car will be worth around 20k or so if not more.

RolltideSS · 08-13-2013, 07:22 PM

Quote:

Originally Posted by skirush

I have a pretty basic Camaro...a 1LS. I bought it because it was what I could afford with wanting a brand new car. Now that the 2014's are coming out, I'm somewhat bummed because I envision the value of my car plummeting.

Just last night a friend from work spent the night with us and was shocked at what my car cost. People seriously think I paid double for the car than I did. Don't get me wrong, I really like my car, but I worried about the potential value drop, perhaps even more than owners of SS's and such, because my car is so basic. I mean the desirability factor is definitely going to decrease when you can get a 2014 LS for the same price as what I paid for my 2013. Maybe I wouldn't be as bummed if I bought the car new in 2010 and enjoyed a few years with the car before a revision. I've only owned it for about 8 months so an update now seems soon for me.

This might be a dumb question, but I wonder if the owners of the 6th Gen Camaros see their cars are a completely different animal...so much so that it will spawn a "camaro6" forum.

Anyone else with more basic Camaros worried about this? Or, should I just say F&%# it and just enjoy the car as is...just a 2013...

Are you planning on selling soon? If not why worry about what the value is, it will be worth even less every year you don't sell it. That's how depreciation works, the remaining life of the vehicle goes down so the value goes down. Stop worrying about it and drive it!

skirush · 08-13-2013, 07:32 PM

No, I'm not thinking about selling anytime soon. Maybe it's partly due to having the newest model just yesterday and now it's the old kid on the block. Of course I know this happens all the time...just saying.

Agent orange · 08-13-2013, 08:34 PM

Agree. Cars are not an investment. Take good care of it and enjoy it.

Edzo · 08-13-2013, 08:44 PM

Nope, not worried. Bought new for 32 grand, plan on keeping it for a long time. Don't care about depreciation right now.

Bonanza7 · 08-13-2013, 08:53 PM

You don't buy a car for future value. You buy it because you like it now.

08-13-2013, 06:47 PM	#1
skirush Drives: 2013 1LS Join Date: Oct 2012 Location: Nowhere Posts: 255 View My Garage	Anyone worried about the value drop? I have a pretty basic Camaro...a 1LS. I bought it because it was what I could afford with wanting a brand new car. Now that the 2014's are coming out, I'm somewhat bummed because I envision the value of my car plummeting. Just last night a friend from work spent the night with us and was shocked at what my car cost. People seriously think I paid double for the car than I did. Don't get me wrong, I really like my car, but I worried about the potential value drop, perhaps even more than owners of SS's and such, because my car is so basic. I mean the desirability factor is definitely going to decrease when you can get a 2014 LS for the same price as what I paid for my 2013. Maybe I wouldn't be as bummed if I bought the car new in 2010 and enjoyed a few years with the car before a revision. I've only owned it for about 8 months so an update now seems soon for me. This might be a dumb question, but I wonder if the owners of the 6th Gen Camaros see their cars are a completely different animal...so much so that it will spawn a "camaro6" forum. Anyone else with more basic Camaros worried about this? Or, should I just say F&%# it and just enjoy the car as is...just a 2013...

08-13-2013, 06:53 PM	#3
nyrfan Let's go Rangers! Drives: 13' AGM 2SS/RS L99 Join Date: Jun 2011 Location: Orlando, FL Posts: 10,742 View My Garage	No! The 14's will make the prior years drop no more or less then they would anyway. Cars are not investments, they will drop. And yes, there will be a camaro6. __________________ Soprano 4/1/00-6/14/11, Gone but NEVER forgotten! FSP tuned: 377/389

08-13-2013, 07:11 PM	#7
RollaMo Drives: 2017 2SS Join Date: Mar 2012 Location: Rolla, MO Posts: 1,106	New cars depreciate faster than you can pay on the loan. Anybody putting the minimum or zero down on a car, will be upside down on the loan if they try to trade within the first 3-4 years. __________________ 1996 Corvette - LT4 2017 Camaro 2SS 2019 GMC Sierra 2500 HD 2015 Harley Davidson Ultra Limited

08-13-2013, 07:21 PM	#9
95birdible Drives: 2012 1SS Camaro Convertible Join Date: Sep 2010 Location: Blaine, MN Posts: 1,674	I don't buy that my SS Vert will be worth 15 grand after year 5 of ownership. It stickered for 41k I bought it for 36,500. In 5 years the car will be worth around 20k or so if not more. __________________ 2012 1SS Crystal Red Convertible "Cherry Bomb" Winner of the #NameThatCamaro Spring Special Edition "Green Flash"

08-13-2013, 08:34 PM	#12
Agent orange socal ht5 Drives: 2010 Camaro ss Join Date: Dec 2010 Location: Valley village CA Posts: 469	Agree. Cars are not an investment. Take good care of it and enjoy it. __________________

08-13-2013, 06:52 PM	#2
Baldwin feeder Drives: 1986 Chevy C-10 and 2013 BRM 1SS Join Date: Sep 2011 Location: Pennsylvania Posts: 153	One of the reasons I was so tempted to get a 1LS was due to prevention of a value drop. Basic models tend to lose a lesser percent of their value over time than loaded models. That and I like basic cars. If I could have gotten my 1SS without MyLink I would have turns out I love the LS3 more than I dislike MyLink.

08-13-2013, 06:56 PM	#4
skibik Guest Drives: bbbbbb Join Date: Dec 2012 Location: bfe Posts: 713	You pretty much well have to enjoy it because the day you took possession and drove it off the lot that 1LS lost about $3k in value. Last year I bought a brand new 1LT and figured I lost about $4k when I drove it off the lot. If you want to see why I say that amount head back to a dealer and ask what they will give you for trade in. It will about make you cry. I told myself that I was going to buy what I call new/used, a current year with low miles, around 10k miles. Ended up buying brand new I just enjoy it and not think about it. I normally keep a car for around 7 to 8 years and then trade up. Dean.

08-13-2013, 07:00 PM	#5
dixonk Drives: 2011 Audi Q7 Join Date: Mar 2013 Location: Elk Grove, CA Posts: 1,084	I have never ever bought a possession with the mindset of it retaining any value. Cars are not an investment and I don't view them as collectors items either. I bought one to drive the piss out of it. In 10 years my son will get it as a hand me down if it lasts that long. Then he will drive the piss out of it.

08-13-2013, 07:00 PM	#6
upflying Drives: '86 Monte Carlo SS Join Date: Nov 2010 Location: Reno, NV Posts: 3,119	read and weep... http://www.edmunds.com/car-buying/ho...fographic.html

08-13-2013, 07:14 PM	#8
tonyko1 Banned Drives: 2012 Camaro 2SS/RS Convertible, IBM Join Date: Jun 2012 Location: Oregon Posts: 1,015	I didn't buy my car for the investment, just pure pleasure. Actually, buying a 3-5yr old car is a great deal, especially if you buy one you know wasn't beat on and driven by an older person. For example, Lexus models or Caddys. I even hear tell that <10yr old Corvettes also are a deal.

08-13-2013, 07:32 PM	#11
skirush Drives: 2013 1LS Join Date: Oct 2012 Location: Nowhere Posts: 255 View My Garage	No, I'm not thinking about selling anytime soon. Maybe it's partly due to having the newest model just yesterday and now it's the old kid on the block. Of course I know this happens all the time...just saying.

08-13-2013, 08:44 PM	#13
Edzo Drives: 2013 Camaro SS and 63 Impala Join Date: Feb 2013 Location: Massachusetts Posts: 355	Nope, not worried. Bought new for 32 grand, plan on keeping it for a long time. Don't care about depreciation right now.

08-13-2013, 08:53 PM	#14
Bonanza7 Account Suspended Drives: 2010, Rally Yellow, Black stripes Join Date: Jul 2010 Location: Phoenix Posts: 2,363	You don't buy a car for future value. You buy it because you like it now.