Resale value is toast on Gen 5

[TheFlyingBananaSS]

I paid 19k for my 2SS a year ago. I love depreciation

[theflea42]

Originally Posted by Spocktwin

A very wise man (my wife's grandfather who was a millionaire) told me unless the car is an established classic don't ever look at it as an investment. I received my 1lt RS as a birthday present and I love driving it every day. I have a 68 Corvette that sits and my brother is going to buy it in the spring, great car but it bothered the wife's back to ride in it so the bottom line it is worth not much to me. Buy what you love and love what you drive. Not rocket science. Not trying to make people mad but if you spend time looking at the net to see what your car is worth you are in the wrong hobby. I highly doubt Jay Leno, or Tim Allen look on the net to see what their cars are worth. They bought them to enjoy and look at... just my two cents (don't look on the internet to see what it is worth) lol

My thoughts exactly! I buy a vehicle because I like it. I don't ever plan on selling my camaro, or trading it for another one, so I could care less what the resale value is.

[rontammy0]

The 6th gen not really being close to the 5th gen in popularity has enabled our cars to retain decent resale value. And now in year 3 of production its safe to say it wont ever get there. Its hard to beat a future classic.

[CamiLFX]

Cars aren't meant to bring money in anyway. Not a good form of investment regardless of the car... unless we're talking about rare classics.

[CamiLFX]

Originally Posted by TheFlyingBananaSS

I paid 19k for my 2SS a year ago. I love depreciation

Lol exactly. I'll never buy new!

[Stormcloak]

Bought mine new, no regrets, no plans to sell unless someone wants to hand me like 40k for it.

Do your research, plan wisely, and you won't really care about resale value.

[pyroguy]

Originally Posted by CamiLFX

Cars aren't meant to bring money in anyway. Not a good form of investment regardless of the car... unless we're talking about rare classics.

Even then, you're better off to invest in good mutual funds. For example, a $7,400 1969 ZL-1 Camaro when put into good mutual funds averaging 12% return (some years will be less, some years will be more), will net about $1.9 million where these cars are selling for $400-$750k.

If you were one of the lucky 20 to have purchased a brand new L88 Corvette in 1967 you would have probably ended up ahead IF you didn't drive it, kept it in phenomenal condition, and hit the right day at the auction as the $6,000 initial investment would "only" be about $1.5 million and the 16 remaining L88 Corvettes are around $3.5 million.

Good luck picking one of these insanely rare vehicles that nobody can order, nobody can find, and GM/Ford/Chrysler doesn't want anyone to know about so nobody can buy. Cars are absolutely not a good long term investment as much as we all love our vehicles.

[Angrybird 12]

Only time to be concerned about resale value is when you go to sell or trade, nothing to really stress out over, just drive your car and remember why you bought it in the first place...

[GatorGreg]

Originally Posted by pyroguy

Even then, you're better off to invest in good mutual funds. For example, a $7,400 1969 ZL-1 Camaro when put into good mutual funds averaging 12% return (some years will be less, some years will be more), will net about $1.9 million where these cars are selling for $400-$750k.

If you were one of the lucky 20 to have purchased a brand new L88 Corvette in 1967 you would have probably ended up ahead IF you didn't drive it, kept it in phenomenal condition, and hit the right day at the auction as the $6,000 initial investment would "only" be about $1.5 million and the 16 remaining L88 Corvettes are around $3.5 million.

Good luck picking one of these insanely rare vehicles that nobody can order, nobody can find, and GM/Ford/Chrysler doesn't want anyone to know about so nobody can buy. Cars are absolutely not a good long term investment as much as we all love our vehicles.

Interesting. What if you had bought a new '70 or '71 4spd Hemi 'cuda vert (what some consider the holy grail of muscle cars) - would you have come out ahead today v. having invested the money under your analysis? I'm guessing they were about $6,000 new and I think they go for about $6 mil now?

The only fairly modern car I can think of that seems to have actually gained value (but maybe not after inflation is taken into account) is the '93-'98 Toyota Supra Turbo (what some consider the holy grail of ricer cars). Even with LOTS of miles those things still go for insane money - way over the roughly $40K original MSRP. Even the non-Turbo versions demand big money. Can anyone think of any other fairly modern cars (less than 30 years old) that sell for more than their original MSRP even with significant mileage on them? Maybe the Land Rover Defender which many consider the holy grail of 4x4s? Those things go for six figures now I think. Hmmm...I'm noticing a "holy grail" pattern LOL.

[pyroguy]

Originally Posted by GatorGreg

Interesting. What if you had bought a new '70 or '71 4spd Hemi 'cuda vert (what some consider the holy grail of muscle cars) - would you have come out ahead today v. having invested the money under your analysis? I'm guessing they were about $6,000 new and I think they go for about $6 mil now?

The only fairly modern car I can think of that seems to have actually gained value (but maybe not after inflation is taken into account) is the '93-'98 Toyota Supra Turbo (what some consider the holy grail of ricer cars). Even with LOTS of miles those things still go for insane money - way over the roughly $40K original MSRP. Even the non-Turbo versions demand big money. Can anyone think of any other fairly modern cars (less than 30 years old) that sell for more than their original MSRP even with significant mileage on them?

The best modern increased value car is probably the mid 2000's Ford GT. They were about $160,000 sticker new and are about $250,000-$500,000 new. The problem is how many of us could afford one then or even now? Fact of the matter is cars are terrible investments.

[GatorGreg]

Originally Posted by pyroguy

The best modern increased value car is probably the mid 2000's Ford GT. They were about $160,000 sticker new and are about $250,000-$500,000 new. The problem is how many of us could afford one then or even now? Fact of the matter is cars are terrible investments.

Oh yeah I totally agree with you - but it would be cool to have a crystal ball and be able to predict what the next holy grail vehicles will be I remember looking at the Supras back when I was shopping for my old '97 Z/28 and thinking to myself how stupid they looked with the ginormous wing on the back and wondering why anyone would pay $40K for such an ugly car. The joke was on me though once it got featured in the Fast and the Furious a few years later and their value skyrocketed.

Yeah I remember when the Ford GT came out and some folks scoffed at their price - I'm still skeptical if their prices will hold at that level especially now that the new version is coming out.

[TWOFORTYZ]

Originally Posted by TheFlyingBananaSS

I paid 19k for my 2SS a year ago. I love depreciation

How many miles? Private party of dealer? That's a good deal, but I could have gotten a 2012 2SS fully loaded with no sunroof for 23,000.

I chose to go my 2015 with a dealer because out of convenience for the oem warranty and financing with my imperfect credit. Book value had the 2015 SS around $27,500 with 15,000 miles. I found mine with 14,XXX miles for $27,800 and bought it for 27,400 because they wouldn't negotiate much. It was the lowest mileage SS in my area, and the ONLY base model SS I found. I feel that stripper models are much more desirable and will hold value better than the cars weighed down with BS.

Another factor of resale value is local economy.

[Moto-Mojo]

I think the bottom line here is, for most of us, a car is probably the second largest purchase we make outside a home purchase. And since the first one is highly subject to market changes and resale values, it's only human nature to 'view' our cars in the same way - even though they're completely different.

I spent $29K on a bathroom remodel. That's a chunk of change for me but I hardly ever give whether I'll see a return on that investment a thought. Just the way it is...

[qcman]

I never bought my SS with residual value in mind. If I did have that in mind I wouldn't have bought it. Anytime a new model comes out it will likely lower the value of the previous one. Mind you the Gen 6 does not seem to be selling all that well & it seems plagued with QC issues ever since production moved to Lansing judging by the problems Forum & the Ask Al one here at least.

Was my SS a bad investment from a financial perspective Hell Yeah! But I don't care I work hard (sometimes) and pay my bills & my kid is finished University with no student debt & making his own way in the world. So its my time & if I want to blow some money on a cool fast car & have some fun I will without a look back.

Life would be pretty boring if we only ever made smart choices...... This car was a good value when I consider the amount of shit eating grins its given me.