12-10-2015, 10:39 AM | #1 |
Drives: 2018 2SS Camaro Hot Wheels Edition Join Date: Sep 2015
Location: Cleveland, Ohio
Posts: 2,814
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How Much Value Will It Lose?
How much value will the 2016 Camaro lose When You Drive it Off the Dealership Lot?
For example, If you have a car that's $20,000 and you buy it brand new, once you drive it off the lot, does it automatically lose 11% in value, so right away its only worth $17,800? ($20,000 - 11% ($2,200) = $17,800 How much value (in %) will the 2LT V6 RS lose after you drive it off the lot? What about the 1SS and 2SS?
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Zack46
2018 Camaro 2SS Orange Crush Hot Wheels Limited Edition Power Sunroof, 8 Speed Auto/Remote Start, NPP Exhaust Production Sequence Number 98 NEOCC Camaro Club Member Former Ride: 2016 Camaro 2LT RS V6 Hyper Blue Metallic |
12-10-2015, 10:51 AM | #2 |
Drives: Cars Join Date: Feb 2009
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I don't know how much this will help, but I bought paid about $38k for my 2010 SS, and 5 years later it drowned in a flooded parking lot (after a very unusual amount of rain)... Then my insurance company sent me a check for about $25k, which was slightly better than the KBB value at the time.
I was kind of impressed that it didn't lose as much value as I expected. |
12-10-2015, 10:54 AM | #3 |
Drives: 2016 Z06/7. Join Date: Aug 2014
Location: Katy
Posts: 309
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The car is worthless. Don't buy it at all. Jk. I'm just bored today.
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12-10-2015, 11:04 AM | #4 |
Drives: Want a gen 6 Join Date: Jan 2013
Location: 75089
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I had a similar question about trading in a 16 SS for a 17 ZL1 and how much of a beating one would take. Surely folks have had some experiences with that on the 13-15's trading in a year old SS for a zl1 from the same dealer.
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12-10-2015, 11:05 AM | #5 |
マスタング = 遅い
Drives: 2017 Chevrolet Camaro SS 1LE Join Date: Aug 2015
Location: Florida
Posts: 7,061
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This is why I will not pay MSRP for this or any car. If you don't get a nice discount off MSRP, you loose even more when you drive off the lot...these aren't Ferraris.
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12-10-2015, 11:14 AM | #6 |
Drives: 2016 C7 conv 7 speed. Black/black Join Date: Jul 2014
Location: Atlanta. GA.
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Well I got my 16SS with the help of my GM card for $1739 off sticker and I will lose money ....but less then a V/6. Take a look @ cars like the Audi RS5 they lose a TON. Sticker $86K and a 13 is selling for $52K. Or how about a 09 Shelby GT500KR sticker $89K now going for $42K with low miles.
I did buy a used 13 Boss 302 drove it for two years and lost $3500 and the trade in saves you taxes in GA . So I saved $2475 in taxes on the 16 SS.
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Last edited by Mike502; 12-11-2015 at 09:46 AM. |
12-10-2015, 11:14 AM | #7 |
Older Than Dirt
Drives: 2010 & 2013 Camaros Join Date: Apr 2010
Location: Aiken, SC
Posts: 4,548
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This question could have been asked in 1965, 1984, 2000, and 2015. You get the SAME exact answer.
It depends. You can't use the 11% rule, or any other rule. It varies by region, and also market saturation. Case-by-case. I'm thinking by next year, there will be enough 2016s rolling around that you'll take a bath financially. And not in a good way. Just know that you will eat a bigger chunk out of your value if you paid MSRP or higher. Buying a 2016 should have been an all-in affair. You either buy and hold, or hold off until you know what you'll be getting in '17. But if you buy now, you will lose next year on trade-in. Because if they even offer a Z-edition, whatever it is, you will likely pay big to be first, and since you've probably already forked out some $$ already...if your wallet can take the hit, then go for it. Mine probably can, but that's just not a smart move financially. My advice to those that can't wait- Should have leased, you financial dimwit.
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2010 2SS TE, 1 of 822/2013 Camaro ZL1 vert, 1 of 54
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12-10-2015, 11:21 AM | #8 |
PC Technician
Drives: 2016 Hyper Blue 2SS Join Date: May 2012
Location: North Dakota
Posts: 2,161
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Lots of variables, unfortunately it's hard to say with a brand new model year. I'm not concerned because this is a car I'll be keeping for a long time. I saved $4,000 when I bought my car 1 year old with 12,000 miles which wasn't bad at the time. 1 year later there were a lot of nice low mile used SS's showing up for not much more than I paid for my 2LT.
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12-10-2015, 11:29 AM | #9 | |
Drives: 2016 V6 RS Camaro 6MT Join Date: Aug 2015
Location: Portland, OR
Posts: 1,102
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Quote:
In addition since it is a turbo4 or V6 and not the LT1 I anticipate that the value will drop at a more rapid pace than the SS's.
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12-10-2015, 11:54 AM | #10 |
Drives: 2022 CT4-V Blackwing Join Date: Sep 2013
Location: Florida
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In year 1 and 2 you get hit hard and then depreciation tends to slow a bit in year 3 and beyond depending on condition and market conditions for the particular vehicle. To give you an example, I am driving a 2013 2SS 1LE with all the options. It had an MSRP of 43k. I paid $39k around 28 months ago. Wholesale on the car with about 15k miles on it is probably in the $25-27k range. So, yeah you will get destroyed on depreciation on a new car. If you plan to keep it forever then so be it, if you like to get in an out of new cars every few years then it is cheaper to lease them. If you can find a 2-3 year car that has been well maintained then that is the way to go to save a boat load. The person who get my car next year will buy a cream puff, garage kept driven less than 7500 miles per year for mid 20s. Don't get me wrong, buying new is awesome but only worth it if you hang on to cars to build some equity or lease them.
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12-10-2015, 12:10 PM | #11 |
Banned
Drives: 2017 Camaro 2SS 6MT Join Date: Aug 2006
Location: Cleveland, Ohio
Posts: 4,372
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Even Ferraris take a hit initially. First 5 years are not very good to Ferrari values. But after the initial 5 years, you have your own high yield CD in the garage.
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12-10-2015, 12:20 PM | #12 |
Drives: 2016 2SS Join Date: Nov 2015
Location: Moon Township, PA
Posts: 474
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I have been thinking about this also. I'm trading in a car that doesn't depreciate near as fast as the Camaro. I will probably only keep the car two or three years so I'll lose on it.
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12-10-2015, 12:35 PM | #13 | |
Drives: 2016 1SS Yellow Join Date: Aug 2015
Location: CA
Posts: 629
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Quote:
But there is one more thing to take note of.. in a few years features like blind spot monitoring, cross traffic alert and all will be available even on standard trims.. at that time a 3 yo camaro already equipped with these features will tend to be favored than the one not having that... so this might help it shave off some depreciation... thats my guess... but even then a V6/I4 will depreciate more than V8.. here are a couple of articles explaining this: http://jalopnik.com/here-s-why-you-s...ypography%3Don http://thegarage.jalopnik.com/here-a...y-a-1673044072
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1SS,Yellow,Gray Wheels,Black bow ties,NPP.
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12-10-2015, 12:35 PM | #14 |
Drives: 2018 2SS Camaro Hot Wheels Edition Join Date: Sep 2015
Location: Cleveland, Ohio
Posts: 2,814
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See, this is where I'm at a disadvantage. The V6 (LT) will lose value quicker than the V8 (1SS & 2SS).
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Zack46
2018 Camaro 2SS Orange Crush Hot Wheels Limited Edition Power Sunroof, 8 Speed Auto/Remote Start, NPP Exhaust Production Sequence Number 98 NEOCC Camaro Club Member Former Ride: 2016 Camaro 2LT RS V6 Hyper Blue Metallic |
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