[rcandiloro]

Originally Posted by HumanWiki

All of these cars are a luxury item, even if they're not classified as a luxury car. We don't need the vast majority of the gizmos, gadgets, power, design, etc. We buy and get in to them for the feelings they evoke while driving them. This is not exclusive to the auto performance area either. It's all across the board, with some hobbies costing more than others.

Depreciation is something you accept because you're buying it as a toy, not an investment.

While I would never encourage someone to over extend themselves and I'm sure some fiscally conservative people will be along to hand slap me.. But, money is a medium of exchange and has 0 intrinsic value. It only means something when we use it and while some may get enjoyment from having more commas in the bank than others, that doesn't do it for me. So, spend what you can on things that make you happy and don't worry about if they lose monetary value over the years. If you're not buying/selling them quickly, it's irrelevant and your mental happiness will usually offset it anyways.

Basically, we're only granted a certain amount of years in life. Choose how you spend them and on the things that make you happy. If a high initial cost car that will lose 30% value in 2yrs is something you can stomach because of the joy it will bring you and you're not going to end up destitute from buying it, then why not?

Well said! My wife and I have this discussion all the time. When I got my ZL1 she kept asking why I "needed" to get one? I told her I didn't "need" to get one, but I wanted one and it was something we could afford. No impact on our kids college funds, no impact on our financial situation, etc. But she doesn't think like that, she doesn't really understand the "toy" concept. Then I sold my ZL1 and got a ZR1 and the discussion started all over again. I will never tell anyone else how to spend their money. If you end up sacrificing other things to fund your toys then that's your business, not mine. I do think there is a reasonable limit, but again, that's a personal decision. I would love to have a 2016 GT3 Porsche, but would have to make some big sacrifices to be able to afford it. I won't do that, others might. I do think that we are living in a golden age of performance cars. Never in history has so much performance been available for so little. Can you imagine the performance of a 6th Gen ZL1 10 years ago for so little money? Insane that this level of performance is available at a "relatively" cheap price. I am definitely of the mindset that you only live once, so enjoy it while you're here!

[pdiddy972]

Originally Posted by blessedhellride

nah, homes are becoming like used cars too.....

House values in DFW are up 43% over the last 5 years, and show no signs of dropping anytime soon.

EDIT: added supporting article

http://www.whiterealty.net/2016/07/2...-prices-up-43/

[BigGuy81]

I could easily see $20k off in two years for a used one.

[BreedsAS]

Originally Posted by BigGuy81

I could easily see $20k off in two years for a used one.

That would translate over to a 30% drop in value. I would not hold your breath on that one.
Maybe you will see that much drop in about 3 years, not 2.

[gosutag]

$12K over one year, $16K over two years and slows down even more as time goes on until after 50K miles then another drop.

[samsumon]

Originally Posted by HumanWiki

All of these cars are a luxury item, even if they're not classified as a luxury car. We don't need the vast majority of the gizmos, gadgets, power, design, etc. We buy and get in to them for the feelings they evoke while driving them. This is not exclusive to the auto performance area either. It's all across the board, with some hobbies costing more than others.

Depreciation is something you accept because you're buying it as a toy, not an investment.

While I would never encourage someone to over extend themselves and I'm sure some fiscally conservative people will be along to hand slap me.. But, money is a medium of exchange and has 0 intrinsic value. It only means something when we use it and while some may get enjoyment from having more commas in the bank than others, that doesn't do it for me. So, spend what you can on things that make you happy and don't worry about if they lose monetary value over the years. If you're not buying/selling them quickly, it's irrelevant and your mental happiness will usually offset it anyways.

Basically, we're only granted a certain amount of years in life. Choose how you spend them and on the things that make you happy. If a high initial cost car that will lose 30% value in 2yrs is something you can stomach because of the joy it will bring you and you're not going to end up destitute from buying it, then why not?

my 2016 2ss was the first big grown up purchase I ever made, i'm 26. It DID hurt to see other models a few months later go for 20k off MSRP, but looking back, you are right. I have enjoyed my car and while I would have loved to save more money, every minute i've spent in my car has been with a smile on my face.

[BigGuy81]

Originally Posted by BreedsAS

That would translate over to a 30% drop in value. I would not hold your breath on that one.
Maybe you will see that much drop in about 3 years, not 2.

30% in two years is not a crazy amount of depreciation at all.

[BreedsAS]

Originally Posted by BigGuy81

30% in two years is not a crazy amount of depreciation at all.

I am just using the resale value of 2014 ZL1's (with the 2013 cycle models being right over 3 years old). Even with the Gen6 production, those are still hovering around $40k. Those had a $55k MSRP back in mid 2013 so that translates to about a 30% drop.
I would guess the current ZL1s in production now will have about a $45k value in 3 years with average mileage.

[formoutofchaos]

I think when a new gen comes the biggest drop follows so until its the next GEN.

This is where the shelby is attractive much less drop for that flat plane crank

[COmaro]

I've been around cars a long time. I've heard people say that the following cars were sure fire investments guaranteed to never depreciate: 1975 Trans Am, 1979 Trans Am, 1978 RX-7, 1981 Z/28, 1982 Corvette, 1982 Mustang GT, 1985 Mustang GT, the first IROCs, the second IROCs, the first year of every generation of Corvette, the 1991 ZR-1 Corvette, on and on and on and on.... 2001 Z06, 2006 Z06, 2014 Z06, the 2014 Z/28.....now the 2017 ZL1.

OK to be honest, some of the cars on that list did appreciate, eventually....after decades.

If you are worried about depreciation, as others have pointed out, just wait four or five years. You *will* find a low mile, well taken care of ZL1 for under $40K.

The car that really kicked off the latest round of pony car wars was the 2012 Boss 302. Production of those was strictly limited to 4000 in 2012 and 4000 in 2013, 3250 standard Boss 302's and 750 Laguna Seca models. People thought they were buying a sure thing, just like the people today paying over sticker for a GT350. A standard Boss went for $45-50K, LS models were usually over $50K. You can now get a cherry standard Boss for about $30K and an LS for high $30's, even though they only made 750 LS models each year.

[Raven87]

If you want an investment, you do NOT want to buy a new car of any brand, much less an American made sports car.

Put your money elsewhere or buy a low mileage used one. Like others have said, just wait a year or two and you will be able to save tens of thousands.

Hell, I bet GM will be offering new ZL1s at some % off MSRP within one year or less. Just watch...

[BreedsAS]

Originally Posted by Raven87

Hell, I bet GM will be offering new ZL1s at some % off MSRP within one year or less. Just watch...

They will! I will be waiting for when that happens too so I can get mine. I won't settle for less than $5k off without incentives, vouchers, and or card points.

[DisturbedSS]

Originally Posted by formoutofchaos

Im am still torn between a 1LE , 2SS fully loaded, and even the ZL1, looking at the past ZL1 It has really held its own in value. What do you think the depreciation of lets say a 65K purchase price over the next 3-4 years would be for the new ZL1? would it hold at 55k in 3 years? versus a 1Le , and the 2SS. I know this is not a *reason to buy a car but it factors in when i would spend at extra 15K. Thats the one thing I like about the shelby is it really holds its value. any thoughts appreciated !

A corvette is your best chance at retaining value. A ZL1 is a SS with a supercharger and SS models depreciate quickly. This applies to just about any muscle car however - minus exotics.

The best way to fight depreciation is to keep the car and pay it off. Vehicles will be your #1 money losing item over your lifetime.

I target buying 1 model year behind and let someone else (dealership or private) take the largest depreciation hit on a new car - year 1. The sacrifice is not getting exactly the color/features you want. Theres always some 20 year old guy out there who bought an overpriced car he cant afford and is forced to sell when payment and high insurance premium reality settle in - my fav target for discounts! Always find one on Craigslist that fits that description. Ah crap, my secret is out

[pdiddy972]

Originally Posted by DisturbedSS

A corvette is your best chance at retaining value. A ZL1 is a SS with a supercharger and SS models depreciate quickly.

How can you even say that? It's not even the same engine. Then add on all the other differences. It's not an SS with a supercharger, I don't think.