I'm not sure where you get some of your info, but where did you get that the depreciation is terrible. Corvettes have one of the best resale values around. You're not going to find a car that offers the performance that the vette does for that kind of money, period. The vette is an amazing car even though there were some early problems all of which have been fixed by the mid year builds. I have a 2005 as well and it's an amazing vehicle. I think the interior is very nice, but maybe not up to some cars standards. But hey, you're paying about 20 to 40 thousand less for the vette.
He's right it does depreciate in price. I went to the dealer and he was gonna sell me a 2006 C6 Corvette with only 800 Miles on it and he was knocking off $20,000 from it. He gave me his card and told me to think about it. It loses $150 bucks a day till it gets to that right price and it stays there then. I just wish GM would really concentrate on their interior and not make cheap plastic ones especially if you're buying a $65-75,000 automobile.
If you buy a new car... you should just plan on losing money! If a dealer was really willing to sell a used 2005 Corvette for 20 grand off original MSRP in early 2006; you have got to believe something major was wrong with it! If you wanted a higher end sports car with out the plastic console, look somewhere else. No car is perfect, but that's why we are not paying 70 grand for a base Corvette that has all "right" interior materials and all the flaws worked out of a low production car. Spend time thinking about the luxury item before you buy it!
I own a 1972 Corvette Convertible that I purchased when it was one year old. I paid $5900.00 for it. It's worth about $25,000.00 today. That's called "appreciation". History proves that Corvettes depreciate the first eight years. Then they stabilize for four or five years, then they begin to appreciate.
I disagree with the last person's comment. $ 5,900 in 1972 was like $ 60-85,000 in todays dollars. One could buy a starter home for $6k in 1972. So, $25k today is nothing to get excited about in terms of an investment. Though, the car would have definitely held a lot of its value, as a used car. On the other hand, some of the rarer models, like the LT-1s from '72 or the older 427's, which are worth $60k and up today have proven to be good investments.
Actually no, 5900 is about $30k today. Go online and look for an inflation calculator. Eventually it will appreciate, it's just a question of whether these newer generation vettes will become classic or will they be seen as crap.
I mean the old vettes, meaning the C1 and C2, are from another planet when it comes to build quality. The C5 however is a really good car all around.
Add another comment
Note: A Comments RSS Feed is available. New comments appear in the Members Area before the main site
Copyright 1997 - 2013 CSDO Media Limited Advertise on this site