LT4 GS/CE LT4 Values Drop

[vetteguy]

Hey guys, I am new here. I just found this place after belonging to a few other forums. I did not realize there was one dedicated to LT4's. This is great. I sold my 85 about a month ago and purchased a Red/Black 96 LT4 w/13k miles. I paid 23.9k and was very pleased with the price from a private party. I searched high and low and traveled quite a bit looking and I can tell you all of the cars in the $17k-$ 20k range were rough. Mine is showroom new inside and out. You can not judge a car on paper, you have to actually see the car. I looked at cars w/18k miles that were trashed. I saw similar cars on dealer lots going for $28-$29k. Maybe some will think I paid too much but if you saw this car you would understand. I have learned alot about the LT4 today reading through this forum. I think I will be spending alot of time here when I am not out cruising. Guy

 

[Rob]

Hey guys, I am new here. I just found this place after belonging to a few other forums. I did not realize there was one dedicated to LT4's. This is great. I sold my 85 about a month ago and purchased a Red/Black 96 LT4 w/13k miles. I paid 23.9k and was very pleased with the price from a private party. I searched high and low and traveled quite a bit looking and I can tell you all of the cars in the $17k-$ 20k range were rough. Mine is showroom new inside and out. You can not judge a car on paper, you have to actually see the car. I looked at cars w/18k miles that were trashed. I saw similar cars on dealer lots going for $28-$29k. Maybe some will think I paid too much but if you saw this car you would understand. I have learned alot about the LT4 today reading through this forum. I think I will be spending alot of time here when I am not out cruising. Guy

Guy,

Welcome to the Corvette Action Center. Spread the word to your other LT4 friends.

 

[Edmond]

The greatest question of all...

Okay, I see you guys who have these LT4's and I only have one question:

Did they make LT4's in any color other than red?:L

I plan on having an LT4 within 18 months and I don't like red.

 

[6 Shooter]

Hey guys, I am new here. I just found this place after belonging to a few other forums. I did not realize there was one dedicated to LT4's. This is great. I sold my 85 about a month ago and purchased a Red/Black 96 LT4 w/13k miles. I paid 23.9k and was very pleased with the price from a private party. I searched high and low and traveled quite a bit looking and I can tell you all of the cars in the $17k-$ 20k range were rough. Mine is showroom new inside and out. You can not judge a car on paper, you have to actually see the car. I looked at cars w/18k miles that were trashed. I saw similar cars on dealer lots going for $28-$29k. Maybe some will think I paid too much but if you saw this car you would understand. I have learned alot about the LT4 today reading through this forum. I think I will be spending alot of time here when I am not out cruising. Guy

Welcome !

Red & Black LT4, does life get any better !

 

[6 Shooter]

Re: The greatest question of all...

Okay, I see you guys who have these LT4's and I only have one question:

Did they make LT4's in any color other than red?:L

I plan on having an LT4 within 18 months and I don't like red.

Ain't u heard . . . :J

All Corvette's Are Red !!! :L

 

[Edmond]

So are there any LT4's out there that aren't GS's, CE's or red?:L :L :L

But seriously, I want a black one because I think it's more "stealthy." Plus, I always thought that red attracts more police attention. I see they made almost 6,000 LT4 powered Corvette's so there should be plenty of them out there!

 

[twiget]

So are there any LT4's out there that aren't GS's, CE's or red?:L :L :L

But seriously, I want a black one because I think it's more "stealthy." Plus, I always thought that red attracts more police attention. I see they made almost 6,000 LT4 powered Corvette's so there should be plenty of them out there!

There were 6,359 LT4 Corvettes built. Minus 1,000 for the Grand Sports. That leaves 5,359 LT4 cars to distribute amongst the RPO cars and CE cars (which BTW are all silver, and not red). And yes, there were black LT4's built. I came "This Close" to buying a black LT4. Instead I got lucky and came across the add for my car.

Vetteguy, congrats on your new purchace. It's always nice to see a new LT4 owner on the CACC. I'm sure you've found that the consensus on the LT4 is that it's the best small block ever put in the Corvette (until the LS6 anyway...)

Jason

 

[Guy]

Vetteguy

Congrats on the new ride and welcome from anoher Guy! Hope to see you in Carlisle.

Guy

 

[Stan A]

Welcome VETTEGUY

I believe that I saw about three or four LT4 coupes for sale on the AUTOTRADER.com the other day. One of them was black!!!!!!!!!

Stan

 

[vetteguy]

Thanks for all of the welcomes. I ran across a few black Lt4's in my search. They are out there. Guy

 

[Gaming Glen]

I would suppose that this continued recession is causing some people to sell off their luxury items. I know of several people recently laid off and haven't found a job for weeks now in their chosen profession (and this is hurting my game store's sales). I bought my convertible GS new (now at 25K mi) and love her dearly, I have no intention of selling her any time soon (the C5 goes first, now at 60K mi).

I do tell people: buy your vette(s) first, before buying into a game store (and possibly some other businesses).

Glen

fyi: Dragon's Lair Games

http://www.lairevents.com/

 

[Mad-Mic]

welcome Guy! there is a few of us here that live in maryland 1 has an LT-4 and i'll be looking for one in the fall. I'd like to buy a ZR but can't afford it quite yet but then again if the prices keep dropping

 

[all4c4lt4]

Black is rare

So are there any LT4's out there that aren't GS's, CE's or red?:L :L :L

But seriously, I want a black one because I think it's more "stealthy." Plus, I always thought that red attracts more police attention. I see they made almost 6,000 LT4 powered Corvette's so there should be plenty of them out there!

I purchased my black lt4 6 months ago for $25k, however it was perfect, had only 27k miles, and was a Z51, FE3, J55, with chromed Zr-1 wheels, and new Potenzas (showing wear now :smile). Black ones are out there, but there was only 812 made, and good luck finding a Z51!

 

[vetteguy]

Thanks for the welcome Mad-Mic, nice to hear from someone in the area. I found this car at Vettefinders.com. Let me know when you start looking there are alot of places out there to look at. Trust me I checked them all! Guy

 

[Mad-Mic]

cool deal Guy!

thanks! it'll be after october most likely. i got an 87 Z52 coupe i bought back in januaury but now i want the 6 speed and an LT-4 momo Not sure if i'm gonna keep my 87 or not....we'll have to see

 

[6 Shooter]

Newest Released figures from the National Association of Auto Dealers shows a sharp drop in wholesale "trade in" prices on the GS/CE LT4 models.

It appears that mileage is not much of a factor. Very low mileage cars have been hit the hardest. Where the market for a showroom GS/CE LT4 with mileage under 20k was hovering between $17,000 to $19,000 has slipped to $14,000 to $15,000.

THis means that a showroom quality GS/CE LT4 may well sell or re-sale from a dealer in the range of $18,000 to $20,000. Previously, a car like this was retailing between $25,000 to $27,000 through Xmas of last year.

However, the convertible edition with regards to both models has held steady as supply vs. demand has not wavered.

Good time to buy a coupe if your looking.

Check out what this 1 went for . . .

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=1845384491

 

[Stan A]

NICE

Hi 6 shooter,

That car was brand new! Glad to see a car come in like that. Give us hope for down the road.

Still dealer wholesale continue to stay on the low side. Retail is still another issue. I really wonder what this dealer paid for the car or was it on consignment. That was one unusually nice car well worth the price as pics indicates.

Thanks for the updates.

Stan

 

[Edmond]

Stan,

Do you believe this drop is a temporary thing due to our shaky economy? Will the values for these cars pick back up somewhat in the future?

I know that car prices are quite shaky now because there are more important things... It's a great buyers market though. That GS was excellent, less than 10K on the clock!

 

[Stan A]

Great Question

I think that there are a number of things that are effecting prices and the whole economy issue is apart of it. There five C5 owners here in the Atlanta area that deciding at this time as to what they will do. Less excess funds means that maybe the play toy (the Vettes) may have to go. Many Vette owners only see their cars as "weekend" toys, therefore, when things are slow and or money becomes tight the car is sold away. Usually at a loss or greater loss than is expected.

Check with seven national Chevy dealers to see where they are on Z06 resales. Most say that they "trade-In" value on a 2001 with less than 24k miles falls in the 27k to 30k range with a resale in the 33k to 35k. The 2002 Z06 with less than 12k is a little higher at 29k to 33k on a trade in with resales in the 35k to 39k range. Thes are just general ranges but it does show that the current market value on these cars is also on that downward trend.

I do believe that after the 2004/5 production year is released that all Z06 models will start that slow upward climb in value. The reason I believe is that no Z06 or Z0? will be made again until 2007 or 2008 at the earliest. GM marketing plan is first to release the coupe for a year or so then the convertible and a year or so later the high performance Z06 or Z0?

The real sad thing is that the Chevy dealers (most of them) are already discounting the new 2003 Corvette in the ball park of $3000 to $3500 off the MSRP on dealers inventory cars. Usually, this does not take place until after the new year. Sales are really down.

We can hope for the best and only wait for the out come. I really believe that the Callaways and ZR1s still have not "bottomed out" yet. Maybe by the end of October or near the holidays things will stop that down side trend.

It is nice to see a super "showroom" Corvette, no matter what the year fetch more than what the market says it should.

Take care,
Stan

 

[6 Shooter]

One more time . . .

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=1847057096