Quote:
Originally Posted by jwaked
I agree and disagree. Disagree in that demand makes the value. I am no mechanic but I do own a business for many years and the lower the demand the less the value it retains. Agree about the checking it more. I did a good check today but I am not a mechanic. Saturday the car will be going to my friends shop for a full check up and if everything goes as it should will do maintenance right away.
To give an example. A Japanese car here depreciates 15% per year. American about 25% first year and 20 there after. European about the same. V8 cars here get a big loss specially if it has a few years already.
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Demand and value are 2 different things. A ZR1 has very low demand. A Silverado 1500 or a Equinox would have a higher demand. However the ZR1 costs $120K. A ZR1 has much more cost associated with it whereas a Silverado or Equinox would have much lower cost. So those costs do not go away simply because there is a lower demand. When the buyer does come around, he might get a slightly better deal than someone in an area where there is a higher demand. But the price isn't gonna plummet by too much. So again, just because there isn't much demand for the ZR1 in Panama does not mean it will lose value. At the very least the demand won't affect the value to the point where it is worth an even trade with a 6th Gen 1 SS with the same amount of mileage.
But that is a debate for another day. My point is that something sounds a bit off.