05-24-2016, 11:37 AM | #15 | |
Drives: 2SS, Hyper Blue Join Date: Feb 2016
Location: Greenville NC
Posts: 835
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Steve
Hyper Blue 2SS, 6M, NPP, Sunroof, Nav |
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05-24-2016, 12:55 PM | #16 |
Too Many Great Choices
Drives: Grand Sport/Z07 Join Date: Jun 2009
Location: A Mountain Road
Posts: 7,454
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I've found that the options on a car lose the most in value. Buy a higher tier model with fewer options, that's the best you can do. But know this, you'll still see depreciation.
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05-24-2016, 02:46 PM | #17 |
The Dogfather
Drives: #1 off the line for a customer. '16 Join Date: Oct 2015
Location: Andover, KS
Posts: 2,621
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Vehicles = depreciating assets. UNLESS. 1) collector item. Ei: Vin #001s, celebrity owned etc 2) RARE vehicle, like whole luxury brands/models/years. Ei: McLaren F1, Ferrari f40/f50/dino etc.
As for how much it would depreciate is all a guestimation game. You guys can't really compare the gen5 ZL1 to it's current prices due to the fact that there is a gen6 out even without having the gen6 ZL1 out, the prices on them dropped even lower. I almost bought a 2015 ZL1 instead of fully committing the gen6 2SS. Price for me with NO trade in was 48k and MSRP at 57k. I am willing to bet that's purely because the gen6 got announced. Let's look at C7s. 2014 1LT z51's still go for 50k+ and they were 58k MSRP in 2013 and 2014 before the price increase mid model year for 2014s. I would assume gen6 ZL1 will be along the lines of that. 3 years later the vehicle lost less than 10k and that's on USED ones. Where as the SS will surely loose some more. Already seeing 51k msrp'd 2SS loaded going for 42k and it hasn't even been a year. C7 Zo6's have seen a bigger depreciation that the base stringray or the z51. You can get a 2LT or 3LT around low 80s right now on a year old slightly used ones instead of the 95k they are MSRP at the time. The larger the price the more it will depreciate. A used C7 zo6 will still cost more than a brand new ZL1. I am willing to bet that the ZL1 new prices will be VERY close to the c7 GS (grand sport) prices. Grand sports do keep their value very well too. |
05-24-2016, 03:17 PM | #18 |
Drives: Sniffin the tree. Join Date: Apr 2016
Location: Old age.
Posts: 225
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For investment purposes cars beat booze and hookers but not much else. Not going to touch the live hard die fast stuff.
There is a current study showing more than 70% of American households would be incapable of handling a 1000 dollar cash emergency. When you think about the houses people live in and the cars they drive it's fairly obvious there is a whole lot of people out there living beyond their means largely through debt. There isn't any shame in letting someone else take the depreciation hit and getting a clean low mile used example. No crushing debt and you're driving the same car anyways. I'm saying this because reducing depreciation is a smart choice for anyone but taking the full hurt is only a smart choice if you can genuinely afford it. I'm thinking 70% of American households should be looking used. |
05-24-2016, 03:31 PM | #19 |
Drives: 2017 Bright Yellow ZL1 6spd Join Date: May 2010
Location: Central MA
Posts: 644
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The biggest hammer on the ZL1s, or any newer GM vehicle, depreciating was GMs great 20% off MSRP sales.
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05-24-2016, 04:15 PM | #20 |
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From experience the ZL1 loses just about $10K in trade in value the first year. After that maybe $2-3K per year and then slows down once you get in the 30s.
Plan on it.
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05-24-2016, 04:18 PM | #21 |
Drives: Camaro 2017 1LE Join Date: Feb 2016
Location: Atlanta
Posts: 1,154
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Good info and I hear what everyone is saying, Im buying cash not saying I'm stretching myself but I like to factor these things. For example I buy a new GT mustang for 40K drive off the lot decide I want to expand in a diff direction I loose about 8K that second vs If I bought the SHELBY GT 350 drive off the lot within that first year I could probably sell that car for the 65K i paid for it and over the next three years I see that Shelby holding its value * this is a just incase scenario I like to plan for options .
Regarding the camaro , I see the 2ss taking the biggest off the lot hit the first two years, that the ZL1 still holds drooling collector enthusiast for many years to come So I wonder sometimes if its better if you can do it to go for that rare model . I still question what that 640 HP feels like as I was extremely happy with the 455 SS but probably would of liked the LE suspension more and brakes. Scenario 2SS at 48K .. probably a quick drop to 35K ZL1 65K probably a lesser drop over the years IMO the 6th gen will trump the 5th gen value 1LE probably a little less hit that the 2SS Shelby probably the best value of all in the long run I plan to keep everything for a long time Im so excited for this purchase just got the wife a new * used Tucson and she is happy just waiting for my move to finish and than I'll roll the dice for my turn. |
05-24-2016, 05:09 PM | #22 | |
Drives: 2016 Hyper Blue 1SS Join Date: Jul 2015
Location: hampton roads
Posts: 2,763
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Quote:
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1ss/Auto-Hyper Blue
acs carbon flash spoiler, bmr springs, gm clear tails. Texas speed cam, 223/227 .635/.635 116 LSA, Kooks Long Tube Headers with green cats, MSD Atomic Air Force Intake, CAI Cold Air Intake, QTP cutouts. 503 hp Best so far 11.5 at 123 with a 1.83 60ft. BMR lower and upper trailing arms and upper control arms,E85 DELIVERED 12/29/15 http://youtube.com/bybcous " no talking only racing on my youtube" |
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05-24-2016, 11:12 PM | #23 |
KaBoom1701
Drives: 13' ZL1 Red M6 Join Date: Dec 2012
Location: I.E. SoCal (Yucaipa)
Posts: 8,630
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I bought an used ZL1 2013 with 4200 miles on it last year for 40k....
Just saying
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Roto-Fab Intake, WW Res. kit & Big Gulp Air Scoop, Elite Catch Can, ATI Super Damper & 18% OD Pulley, LF Idler pulley bracket, Metco CC breather, ID850 Injectors, Stainless Power Headers w/ ceramic coating, TR71X Spark Plugs, JMS Fuel Pump Booster, Bo White TB, Tuned by Ted @ Jannetty Racing, Ron Davis HX, D3 Reservoir, Pfadt 1" Springs, Moreno Camber Plates, ZL1 Addons Splitter guard washers, Tow Hook kit & rock guards, Hurst Shifter Billet Plus 6 Speed Short Shifter, ZL1 DRL lighting harness, ZL1 Recaro Seats. |
05-24-2016, 11:14 PM | #24 |
Drives: 2023 ZLE Join Date: Jun 2009
Location: Detroit
Posts: 1,717
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All of these cars depreciate big time.
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05-25-2016, 12:54 PM | #25 | |
Too Many Great Choices
Drives: Grand Sport/Z07 Join Date: Jun 2009
Location: A Mountain Road
Posts: 7,454
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Quote:
It's the rarity of a car that helps keep the price up.
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05-25-2016, 01:12 PM | #26 |
Drives: 2018 1SS M6 Join Date: Nov 2014
Location: Houston
Posts: 2,617
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You'll lose about 10% once you drive it off the lot, and then about 5% each year after that for about 5 years. Unless the market dictates differently of course, which it can on a specialty, limited production car.
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05-25-2016, 02:18 PM | #27 |
FMPG
Drives: 2016 2SS Join Date: Dec 2015
Location: CT
Posts: 1,888
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I think that's wishful thinking on the 5% each year. You won't see 5% rates of depreciation until right before the car is fully depreciated.
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05-25-2016, 02:41 PM | #28 |
Drives: 1970-1/2 Z-28, 2017 ZL1 Join Date: Sep 2012
Location: Sanford, Fl
Posts: 973
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I have told my kids I am going to die broke but they are going to have one hell of a yard sale when I am gone.
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