[raptor5244]

FWIW, I traded my 2021 ZL1 A10 a couple months ago for a 2022 CT4V Blackwing. The ZL1 was black with 3300 miles, no other options. MSRP was $67,585. I was able to get just under $63k on trade. The dealer originally had it listed for $75k and now it is listed for $68k and still not budging.

The days of paying over sticker for used cars is over. IMO, the car is really worth about $58-$60k. It is two years old, interest rates have more than doubled and inflation on everything else is impacting the price folks are willing to spend on toys right now.

[HemiDave]

1) The artificially high used/new car market was always going to correct itself.

2) Hellcats aren't junk quality (and I purchased 2)

3) If you want to flip you have to do it quick while the iron is (was) hot.

[m6-lt1]

I have been monitoring the price of used Camaros for over a year now both at retail and whole sale levels. Camaro’s, like all used cars are coming down hard and fast in price. Don’t look at the ones for sale used at msrp prices. I promise you those ones aren’t budging. Camaro trims below zl1’s have come down at a higher percentage than zl1’s have. If you think you’re getting offered a low amount for trade in right now, know that you’re getting offered like 10k more than people who traded in their 17/18 z’s before the pandemic. While I don’t think prices will go back to prepandemic levels, I believe they will be close to those numbers but adjusted for inflation one year from now.

[LeonardS]

Plummet away! This doesn’t affect you if you buy the car to keep. We all knew that this bubble would break. When the stock market headed down and inflation headed up, those were the clues.

[raptor5244]

Originally Posted by m6-lt1

I have been monitoring the price of used Camaros for over a year now both at retail and whole sale levels. Camaro’s, like all used cars are coming down hard and fast in price. Don’t look at the ones for sale used at msrp prices. I promise you those ones aren’t budging. Camaro trims below zl1’s have come down at a higher percentage than zl1’s have. If you think you’re getting offered a low amount for trade in right now, know that you’re getting offered like 10k more than people who traded in their 17/18 z’s before the pandemic. While I don’t think prices will go back to prepandemic levels, I believe they will be close to those numbers but adjusted for inflation one year from now.

Agreed. If you are in the market for a used vehicle. I would hold out a bit longer as the market is correcting big time. You need to let the dealerships with all that overpriced inventory begin to write it off and get back down to realistic levels.

In fact, new car inventory is increasing as well so with less total folks in the market as a result of economic pressure, we should start to see discounting off of MSRP again. Not necessarily on specialty vehicles but in general discounts should be quite common again soon.

[bootss]

Anyone hoping to flip deserves what they get. These cars were made to getting speeding tickets, not flipping. amirite? lol

[David Gordon]

Dealerships still charging MSRP on all new Trucks and SUV's.
ZL1 is more rare than a Corvette.

[Checkmate1]

Actually the special cars like the SS/1LE, ZL1 and ZL1/1LE will maintain their values well.

It's not just an inventory issue for the market at large, the issue is there aren't enough special variants/sports cars being produced.

The other side are the high interest rates that deter buyers from purchasing these cars. It's the same with the housing market.

[David Gordon]

Interest rates are back where they sould have been. 5.5% is not a high interest rate..
Look at past 30 year interest rates.

[SATINSTEEL1LE]

Originally Posted by HemiDave

1) The artificially high used/new car market was always going to correct itself.

2) Hellcats aren't junk quality (and I purchased 2)

3) If you want to flip you have to do it quick while the iron is (was) hot.

Whats the last year you purchased? 21 and up "covid" cars are falling apart and guys waiting months for parts.

[mlee]

A lot of dealers will not give anywhere close to what a ZL1 is worth for trade in like they do with other vehicles like trucks. Probably best to sell it on your own and eat all the taxes on the new vehicle.

[raptor5244]

Originally Posted by David Gordon

Interest rates are back where they sould have been. 5.5% is not a high interest rate..
Look at past 30 year interest rates.

Historically yes, however it takes time for folks to get readjusted from the 1.9% they have been able to get for a while. The MSRP has also gone up on just about all vehicles so the number of buyers who want these cars but need to finance them in order to afford them are getting squeezed out of the market.

Take a $70k ZL1, put 20k down and finance $50k@72 months, the payment is around $735 at 1.9% and $816 at 5.5% and adding over $5000 in interest to the loan. It is what it is but the reality is with all the other associated inflation costs for food, housing, etc. there are going to be fewer and fewer buyers in the market willing to stroke over $1000 per month once you factor in insurance and fuel for a high performance car and therefore prices will come down as inventory sits longer.

[cvp33]

5% interest rates, winter time and inventory’s are building again. 6mos ago was the sweet spot for resale/trade-in.

1) Bought a 2020 BMW X7 ($82K MSRP) CPO for $63K w/4K miles. 6 mos ago, now with 24K miles, dealer offered us $67K. Wife wouldn’t sell it. B2B Warranty to 6/25 unlimited miles (best CPO in the car biz BTW).

2) Bought a 2019 Z06 2LZ M7 for $79K GMS. Same dealer as above offered me $76K with 24K miles. SOLD

3) Just bought (last week), 2021 ZL1 1LE A10 ($78K MSRP) CPO for $71K. B2B warranty through 9/25 and 48K miles. Very happy with that deal and it’ll be my track weapon until the C8 Z06’s are available for GMS…..I can wait.

[David Gordon]

Originally Posted by raptor5244

Historically yes, however it takes time for folks to get readjusted from the 1.9% they have been able to get for a while. The MSRP has also gone up on just about all vehicles so the number of buyers who want these cars but need to finance them in order to afford them are getting squeezed out of the market.

Take a $70k ZL1, put 20k down and finance $50k@72 months, the payment is around $735 at 1.9% and $816 at 5.5% and adding over $5000 in interest to the loan. It is what it is but the reality is with all the other associated inflation costs for food, housing, etc. there are going to be fewer and fewer buyers in the market willing to stroke over $1000 per month once you factor in insurance and fuel for a high performance car and therefore prices will come down as inventory sits longer.

Yes it is tough out there for certain. I know these younger guys want their toys, I know I did, but we are getting to times where cars like Vettes or ZL1's are hard to reach. I say if you cannot pay cash walk away and wait till you can. There are some buying these car that cannot really afford them and their familys pay the price.

BTW the dealership just offered 67k for mine. I got him up, I think I'll tell him make it 68k and we got a deal.