Kelly Blue Book on my Vette Made me Sick!

[Mad-Mic]

I know this isn't what its truly worth but it made me sick...Just looking to give me some kind of ideal what i could get for it so i might be able to free up some more resources to start shopping for a ZR-1. I'm thinking 12k'ish?!?!?! What do you guys think?



1987 Chevrolet Corvette Hatchback Coupe 2D

Engine: V8 5.7 Liter
Trans: Automatic
Drive: Rear Wheel Drive
Mileage: 49,000

Equipment
Glass Roof Panel
Handling Pkg
Air Conditioning
Power Steering
Power Windows
Power Door Locks
Tilt Wheel
Cruise Control
AM/FM Stereo
Cassette
Premium Sound
ABS (4-Wheel)
Leather
Dual Power Seats
Premium Wheels

Consumer Rated Condition: Excellent
"Excellent" condition means that the vehicle looks great, is in excellent mechanical condition and needs no reconditioning. It should pass a smog inspection. The engine compartment should be clean, with no fluid leaks. The paint is glossy and the body and interior are free of any wear or visible defects. There is no rust. The tires are the proper size and match and are new or nearly new. A clean title history is assumed. This is an exceptional vehicle.

Private Party Value $6,625
Private Party value represents what you might expect to pay for a used car when purchasing from a private party. It may also represent the value you might expect to receive when selling your own used car to another private party.

Trade-In Value $4,870
Trade-in value represents what you might expect to receive from a dealer for this consumer owned vehicle. Keep in mind that the dealer must then absorb the cost of making the vehicle ready for sale, advertising, sales commissions, arranging financing and insurance and standing behind the vehicle for any mechanical or safety problems.

 

[LEEJANDZ]

Mad-Mic --- Private Party Value $6,625

The general market for 80's sports cars are undervalued through KBB. Most people get more for their well maintained gems. I think youre $12k is too high. With patience and the right buyer you might be able to get $9k.

If your value makes you sad, check out the value of a 80's PORSCHE 911 TURBO.

Whatever you do... DONT TRADE IT IN!!!

----------------------------------

JASON

Auto Broker

 

[Ken]

Mike, why do you think we've been saying all along the C4 is the most affordable generation, especially for a first-time Corvette owner.

_ken

 

[BgBlock69]

I agree with LEEANDZ, Private buyer only.

Six years ago ( August 97) I had a Big Block Clone 69 with beautiful paint new interior and I traded it in. It was stolen from me by the dealer.

I traded it for a 98 Short wheelbase Chev Truckw/air,ps.pb. and cruise. I still had to give him 10 k to boot.

My loss

 

[LEEJANDZ]

BgBlock69 --- Six years ago ( August 97) I had a Big Block Clone 69 with beautiful paint new interior and I traded it in. It was stolen from me by the dealer. I traded it for a 98 Short wheelbase Chev Truckw/air,ps.pb. and cruise. I still had to give him 10 k to boot. My loss

ad ad ad

The VETTE + $10k. OUCH!!!

That is why I quit sales and went into brokering.
Did you ever see your VETTE at the dealership or did the salesman take it home later that day?

FYI --- I am available for consultation before your next purchase.

-----------------------------------

JASON

sales & leasing consultant & auto broker

 

[rrubel]

Mic, if you do trade it in, I want those wheels . I'll trade you the stock 16's, which "obviously" make the car worth more as they're what originally came on it!
[RICHR]

 

[kingman]

Relax!!!!!!!!!!

Hi Mic

First of all your vette sounds like it is a real sweet one. Now we all tend to think that our vettes are worth more and are in better condition then they really are.

Even though your vette really has low mileage, you cannot forget the years. Everything on or in your vette is not cheap to fix or replace, so when you add it up, your talking allot of money.

That is why it doesn't pay to tuck your vette into a garage to lower the mileage. lf your vette had 65-70,000 miles you would get maybe $1500 less at the most.

This is what l would do, being that it's prime time to sell a vette, have it detailed and change the oil and the filter. Put it into the paper for $9995.00. If the car is garaged make sure it has a car cover over it, even if it is a $29 cover. If your vette leaks any fluid fix it or offer the buyer a discount.

The C4's (early) are more expensive to maintain then the later ones.

lt would be cheaper for someone to buy a 95/96 C4 then your year at the end.

Sad but true.

You can always keep it, which is what l would do.

 

[zog]

I agree DONT TRADE IT IN

You will get raped by the dealer...always happens.

A Corvette will almost always sell....people want them and are looking all the time.

!2k sounds a bit high, but you car sounds like it may be worth it...you have to find the right buyer.

My son is a salesman (not cars) and his philosophy is that anything will sell unless it is priced too high or it is under water...

I would advertise ti for 12k, and see what happens....you can always readvertise it a lower price.

If it was a Chevy Impala or a Ford LTD, you would be locked into market prices....Vetttes are NOT like that....

I saw a vette go at an auction (1977) with no hood and a real ragged interior, but it ran good....the buyer paid $9000!!!

You never know...

 

[Ken]

Re: Relax!!!!!!!!!!

You can always keep it, which is what l would do.

I agree, but then I do develop attachments to my vehicles. :cu

_ken

 

[Bob Yates]

After reading these post I feel like I was raped. My 86 C4 conv. had 44k on the clock when I got it. The guy who had it wanted 14k for it . I had an 81 C3 two tone one of the first out of Bowling Green. It had 130k miles , it had a lot of new stuff on it . New paint. I had put a new 700R4 in it. New Quadrajunk and a whole lot more. I traded it and gave 7k to boot. Boy did he see me coming. And guess what. I've been in cars all my life and got my first vette in 1969. A 63 fuelie for $1400.00. Boy I wish I had that back.But I'm having fun with this one. It's really the first red vette for me and that is what I've always wanted. A fool and his money is soon departed.....Bob

 

[LEEJANDZ]

Bob Yates -- After reading these post I feel like I was raped

Did you feel that way after you traded, or after you read this post?

Hindsight is 20/20 -- at least thats what "they" say.
Who are "they" by the way?

:Silly :Silly :Silly

JASON

Sales & Leasing consultant -- Prevent future RAPE!!!

 

[Edmond]

Mic,

I know how you feel, but yet at the same time I really don't care about any book value. I don't care because I honestly never intend to get rid of the car. The car will always be my baby and thats it.

I wouldn't trade if I were you, I wouldn't sell either. How could two Corvette's be a problem? You get my hint? You could look into the ZR-1's and the LT4's for the prices that they're at now. It's definitely a buyers market.

 

[sothpaw]

Mic,

Now is a bad time to sell. When the overall economy is better,
and the deals on new cars evaporate, the used market will
look better from a seller's point of view.

I've been thinking of converting to a C5 or modding my car.
So I've been checking prices; mine is a 93 w/ 75 k and might
fetch 13k or 14k if I'm lucky because of condition.

Like the others said, it's really the age more than the miles that's
important. Kelly is way off on my car vs. market, but that said,
if mine is around 13k yours might be ? 8k-9k. 6 model years.

 

[Vettelt193]

I have to dis-agree with the age/miles. Miles drive Corvette sales more than anything else. Age is definitely secondary. Think about it this way... if you buy a '93, you are getting a car that is 10 years old.... once a car gets that old, what is the difference in a few years?

 

[Heyspike]

When I was going for my loan on the 86 Covertible w/51,000 miles the bank said it was worth 9k. The guy wanted 9k for it, so I had to tell the bank he wanted 10k--they wouldn't give me 100% of the loan.

 

[warren s]

Even in the best of times mass produced cars take a big hit on resale- its all a "system" driven by the auto manufactures and insurance companies. Ever hear of the galves book?

Most pulications value vehicles way below the actual price that the market can bear. Its why a $45, 000 car is worth 37 grand the momet you drive it off the lot. But if the dealer gets the same car on a trade in they will ask full price.

Ever hear of Kerbeck? They may have 5 to 10 C4s on the lot asking anywhere between 17 to 27grand, but they will give you 13 grand for the same car that goes on the lot for 23.


I think, just my 2 cents, unless you have a rare Vette, keep it for a long time and rarely drive it, its goiong to take a beating.

 

[kingman]

Capitolism at its Best!!!!!!!!!!!!!

Kerbeck happens to be expensive, but they really put allot into their resales. Did you ever see a used vette there without new tires and new brakes? And a complete detail, both inside and out.

They really go over their used vettes and give a limited warrantee on them.

Yes, they also make allot of money on each one sold. They will not take any vette in unless they are forced to by getting one as a trade in.

lt's better to pay more then less sometimes, if you do9 not do your homework.

Warren, your vette is really a new vette and to part with it would be criminal.

 

[jrbartholomew]

i think where you live has a little to do with the price also.
2 years ago i paid 15000 for my 87 vert with 36000 on it. i looked at a lot of junk before i bought mine

 

[warren s]

Warren, your vette is really a new vette and to part with it would be criminal.

Yes, I agree...I plan to keep it for awhile, it was my gift to myself after going through the 9/11 attack. Sort of like a "hey you never know when your numbes up so just do it" type of thing.


Guess I am a life long Kerbeck basher. They told me my car had frame damage (but could not show me, because customers arent allowed in the service area, insurance regualations you know) but they would offer me 12 grand. Strange how no one noticed but them.

 

[Stan A]

Real Pricing

With the market on the down size, pricing both wholesale and retail becomes very important with regards to buying and selling. I also agree that mileage is the first issue not age.

As to 1986 with 51k being worth $9,000, is pushing the envelope. I am very surprise to see any commerical bank offer close to that with regards to a loan. Current dealer wholesale puts this car in the $4200 to $5,000 range with a retail value between $5500 to $7000. Local banks here in the Atlanta area will not even make this type of loan in 98% of all cases.

Recently, 1986 with 6k was sold privately for $13,800. Showroom quality at work. Recent sales of 1990 ZR1 with mileage between 14k to 24k came in between $14,500 to $16,700. A 1990 coupe six speed is retailing between $7500 to $9000 with mileage under 50k.

All in all, we can see that there is a lot of "rolling over" between years in the five year brackets.

A car is worth whatever a buyer feels he should pay for it. However, I do feel that there is a limit. As to the amount, who really knows. The Barrett-Jackson auctions bare this out each year that more people are willing to over- pay for what they reall want!

Good luck with your 1986. It was a great year.

Stan