Kelly Blue Book on my Vette Made me Sick!

[kingman]

Warren

Did you buy your vette at Kerbeck?

The best vette dealer in New Jersey happens to be Surf Chevrolet, they have a mechanic that is an A-10 that works on vettes.

For routine maintence l'm bring mine in two weeks to Circle Chevrolet, because one of the service advisors owns a 87 with 286,000 miles and was a member of a club called Corvette Express.

l am joining that club so that l can get the help l need to bring my vette up to my standards.

l was never refused entry to any service area in my life. Most of the time the service advisor will say "come with me so that l can show you, your problem".

Alan

 

[Daryllawman]

Mad-Mic try this site also.........http://www.edmunds.com./

 

[kingman]

Atlanta Market!!!!!!!!

Hi Stan

Being that l travel allot to Atlanta (Brookhaven) l always check the weekend papers for vettes. What l noticed was that the dealers are over the top unless they come across with a huge discount if you show any interest.
Also 90% of the vettes for sale are C5's and the C4's have excess mileage, like 80,000 miles is considered low mileage.
Most of the vettes l saw in the Atlanta area were in poor condition.

The two best area happens to be Florida and Texas for condition and not miles.

Age can be just as bad as miles.

Alan

 

[warren s]

Alan

I bought my car from the orig. owner, her cousin was selling it for her and I found it on autotrader.com ,3 miles from my home, It had 13K miles on it when i bought it. I stoped by Kerbeck with it last summer to test drive a C5, as "new" as my car is, I liked the C5 better...

But Kerbeck practicly told me it was a peice of crap and they would be doing me a favor by taking it on a trade. They refused to tell me what the galves book was, and as for a 99 C5, every thing with them was "as is" they would not even fix a broken antenna.

WS

 

[VetteManiac]

Mad_Mic, I tried your car on NADA.com they rate it at $11,700 for high retail. I feel Kelley rates them too low

 

[Heyspike]

Is Kerbeck the big Vet dealer in Atlantic City?, I'm going down there next month and may stop in.
John

 

[Black Ice]

Really, the best way to "value" your car is to go to a Corvette Used car dealer and shop there cars for prices and the going market value in your area.

 

[MRANT212]

Kerbeck is the dealer in AC. They actually have some nice cars on display there and did a big display at Carlisle last year. Bottom line is any dealer is looking to make $$$$ on trades.The new car pricing on C5's i was told is pretty fair.Afriend of mine just bought a torch red 03 vert and got a decent deal on it!!! Kingman, I too heard of Corvette Express. they meet every first Wed of the month in Marlboro at a restaurant called the Andiron Inn. I have been trying to make their meetings for over a year. Its in my calender to make it on April 2nd. Hope i can make it!!! Maybe ill see ya there!!!

 

[Skant]

My experience has been that Kelly Blue Book values are only useful for vehicles up to maaaybe a decade old or so. The numbers they give for vehicles older than that seem to be made up by keebler elves. No bearing on reality whatsoever.

They seem to be based on some sort of formula rather than any market research. And that formula seems to think that any car more than a few years old can't function anymore. As if every car was built like a cheapo economy box that's engineered to fall apart in three years.

Their system severely penalizes well designed good ole american cars that last for years and years. Which I guess helps encourage auto manufacturers to produce cheap throwaway junk that matches that formula. Disposable cars. Feh.

- Skant

 

[kingman]

Corvette Express

Hi Mrant212

l went to their last meeting and found it interesting, l picked up allot of tips as far as where to have my car serviced for routine work and where to go for the hard stuff.
All of the members were ok, the breakdown was 70% men/30%women. Everything from C1's thru C5's.
They really have a good time and there are people from all walks of lives.
You can even get a hamburger while the meeting is going on.

The meeting starts around 8pm, but people arrive around 7:30.
Don't drive your vette there, leave it home.
They really do allot of kool things during the year.

lf your going to go, let me know so maybe we can grab a burger and shoot the breeze.
Membership is only $20

Alan

 

[MRANT212]

Alan, as of now im on for the meeting on the 2nd of April. Im coming from Nutley NJ that evening from a meeting. if you want you can e-mail me at MRANT212@AOL.com or call me at 732-740-0661. Anthony

 

[Stan A]

Hi Alan,

You are right about what you find in this area for the most part. But there are still many excellent cars here. Locating a car to buy is not an easy task unless you happen to get lucky. I found visiting local car shows is a good way to search. Also get to know several local sales people in different dealerships can help.

Age is a factor but in my experience the mileage is the first issue we all consider when shopping or deciding on what car to buy.

I am looking forward to what values will be like on the C5s when the C6 come on the scene. Maybe a year or so after they hit the showroom will answer a lot of questions.

Take care,
Stan

 

[Mad-Mic]

Mad_Mic, I tried your car on NADA.com they rate it at $11,700 for high retail. I feel Kelley rates them too low

thanks VM,

i was told at some used car places (looking for a 3000 dollar car for my girlfriend) that i could easily get 12k for it. i was looking it up on kelly just for it's and giggles cause i'm thinking on selling the 97 caddy STS. i'll probably keep my vette but if someone offered me 12-13k for it i'd sell it but i don't think no one will buy it for that knowing the market. it just makes me sick that i bought it a year ago and 10k miles later. then i bought it for 14.5 16.5 out the door with a 3 yr 36k warrenty bumper to bumper.

i think i can save 10k by the fall and might start looking for a ZR or an LT4.

BTW my uncle is selling his vette with 32k in miles 95 and it is REAL cherry! he was thinking 18k since he bought his 1 1/2 years ago with 21k in miles and when my aunt looked it up on kelleys and seen 13k or so it made him sick too.

ehhhh what to do what to do?!?!?! i told myself if i was gonna sell it i was gonna sell it at 50k in miles so i could get 90% of my money back (then the economy was still somewhat strong)

i think i'm just gotta start modding the hell out of it and finish the camaro out.

 

[Mad-Mic]

BTW no leaks always tuned and serviced regularly

 

[Ken]

Mike! Where ya been all week (since you posted this)? Hope everything is ok with all. :gap

_ken

 

[kingman]

1995 Vette!

Hi Mike

l think the right price in this kind of market being as weak as it is, but again this is the best time to sell it, is approx $15 thou, but you and l know it's worth at least $16.5.

Also keep in mind what you think is cherry is not what other people think is cherry.

My vette to the average joe is minto, but to me it needs help in small areas that bugs me. l like new, brand new, not that it's in excellent condition for the year of the vette. That is complete hogwash!

As l always said, if you buy it , use it!!! To keep it as a garage piece is a waste. All cars drop in value every year, just keep it well maintained and as clean as possible and you will get your money's worth out of it.

The people that put extra money into a vette, for performance and those aero packages are doing for themselves because it will only hurt them when they sell their car.

Alan

 

[Zora D.]

NADA is ABSOLUTELY more accurate than Kelly's.

http://www.nadaguides.com/Values/ValueCategory.asp?wSec=1&wPg=1202

I cant believe people still (with a straight face) qoute prices from Kelly's. Like Skant said... Keebler elves.

Low miles and good paint will make ANY car sell in a HURRY.

Who's to say what a certain vehicle is worth anyways? I'd have to say it's the buyer!

 

[Stan A]

Booking Pricing?

Zora, your point of who is more accurate is questionable one. You have to get to the source of the information.

First, Kelly gets it all its figures from private 0ne to one sales, wholesale, and many dealers sales from around the US. Note that Kelly asked for zip codes with all inquiries. This helps to make info more accurate based on where you live. Second, NADA compiles a major part of their numbers from dealer/bank loan information. NADA is more widely seen used in all retail operations like dealers, but, we for the most part do not always have access to these wholesale figures. Both also get information from other outside sources. As It was explained to me, NADA additional info comes from speciality collector group which traditional try to sell higher and or try to maintain higher values. kelly looks to market dealer auction numbers for their additional information.

Kelly is more directly connected to the highs and lows market conditions. NADA appears to not to use these conditions.

Whether one source is better than another will depend on your position. If you are a buyer, you will like Kelly numbers. If you are a seller, you will like NADA.

I did contact a number of local banking institutions about a loan on a 1990 ZR1 with 15k mileages. A good test case. The highest loan figure I got was $15,000 and the lowest was $13,750. Several other were in between. They explained that my credit scores reflected on these figures. My current score is 902. I wonder what kind of numbers individuals with lower score may get. The score also affected my loan rate which came in between 5% to 7.5%. NADA book on this model was around the $28,000 figure. How do you figure this?

It appears to me that when it comes to cars and trucks made after 1996, NADA has the edge. On vehicles before that time Kelly has an edge.

Like I said, it will depend on whether you are a buyer or seller and if you deal wholesale or retail in most cases.

This issue can be debated forever. There is not one sources that covers the market accurately that everyone would agree upon.

Everyone have a great day,
Stan

 

[LEEJANDZ]

Stan A -- My current score is 902

I have never seen a FICO score over 902.
I didnt think it was possible.

But anyways... you should qualify for lower APR's than 5-7%
That seems way too high with your score and the rates available.

Jason (Auto-broker - Sales & Leasing consultant)

 

[bz1mcr]

Corvette market values

I just bought a '96. I spent hours on Ebay, and autotrader.com, many Corvette sites, and every Detroit and Ft. Meyers local puplication I could get. I had a notebook of over 100 cars offered for sale. My observation was that Kelly Blue Book was way low in quoting prices for individual sales, their Dealer retail was closer to what individuale wanted but still low. I just recently found the NADA site at www3.nadaguides.com, and it looks much closer to the market I found.

As for the comments on the value of low miles, I looked at it this way. I wanted a car that I could keep for a long time, driving 5-8k miles per year. So I figured each 5-8 K it had on it was one less year I would have to use it. Thus I looked for low miles, keeping in mind short trip miles reduce driveline life much faster than cruising miles. Interior and exterior wear and tear seem to
generally reflect mileage. Bottom line for me, I would pay $1000 more for a car with 50k rather than 70k, and $1000 less for a car with 85K. I was not interested in cars with much over 85K. Remember I want to keep it for many years.