trade in value for 2004 z06

[martinz06]

spoke with my dealer today to see what he would give me for my 2004 yellow Z06 with 1100 miles my wife and i are going to have another baby can't wait. I don't need to sell just thought i'd free up some money he told me low 30's. He said wait until all the 04's are gone then it would be up in the high 30's low 40's. I couldn't believe in 5 months the price has dropped almost 15,000 I knew it would drop with the c6 coming out. anyone have any thoughts.

 

[nyernga]

I would have thought it would hold it's value better at least until the '05 z's come out. Thats a sizeable drop.


Len

 

[MoeJr]

That Z is not going up when all the 04's are gone. If your dealer said that u better hold him to it. U gonna see a long decline before it rises in price. is the way all cars are regardless of pedigree. Just my.02

 

[Greg@NASA]

Trade-in for Vettes is always lower than sale value. The dealers will quickly turn a profit on your loss.I checked on trade-in value on my '96 LT-4, and it's only $12,500 (was considering a 2004 Z-06).Sell to a buyer if you ABSOLUTELY have to let her go.


Greg

 

[ricktret]

spoke with my dealer today to see what he would give me for my 2004 yellow Z06 with 1100 miles my wife and i are going to have another baby can't wait. I don't need to sell just thought i'd free up some money he told me low 30's. He said wait until all the 04's are gone then it would be up in the high 30's low 40's. I couldn't believe in 5 months the price has dropped almost 15,000 I knew it would drop with the c6 coming out. anyone have any thoughts.

You asked what he'd give you, not what the car is worth. He'd sell it in the low 40's.

 

[Jeffvette]

You asked what he'd give you, not what the car is worth. He'd sell it in the low 40's.

I doubt he would find a buyer in the low 40's.

 

[TODD L GRIFFITH]

Vette magazine had those numbers not long ago, but I can't remember what issue it was. A dealer needs to make a profit, so selling it privately may work, but that is alot of cash to depart with. A used loan for say 40k would be sort of ridiculous and put someone into a payment that could buy a new one for. One approach would be to take out a personal loan and pay down on the car where you could break even at the dealer. You could possibly cut the car payment in half, but still have a payment for another 48 months at half the money what the car payment was, paid off a year or more sooner. Just an idea to free up +/-$400/month.

 

[vettepilot]

Vette magazine had those numbers not long ago, but I can't remember what issue it was. A dealer needs to make a profit, so selling it privately may work, but that is alot of cash to depart with. A used loan for say 40k would be sort of ridiculous and put someone into a payment that could buy a new one for. One approach would be to take out a personal loan and pay down on the car where you could break even at the dealer. You could possibly cut the car payment in half, but still have a payment for another 48 months at half the money what the car payment was, paid off a year or more sooner. Just an idea to free up +/-$400/month.

Todd made some good, if not very important points. However, in some cases, and if you have enough time to hold on to make a private sale, many credit unions have auto loans that are still down in the 3.9 - 4.9 % even for cars up to 2 model years old. So if I were you, I would advertise for sale by owner in as many publications as I could, within [ $$$ ] reason of course. Hopefully, if a perspective buyer see it, and is a smart financier, he/she will get a loan from their financial establishment of choice and pay you what it should be worth in a private sale. For a rule of thumb, take the mid-retail, and the mid-wholesale values, the private sale value should be about halfway between both. I don't know what you actually paid, but my guess is that a previously owned very low mileage 2004 Z should fall about 42,500 - 43,500 in a private sale. But that is a real SWAG, time of year, and your location in New England is going to be bad for a local sale, but somebody in the more hospitable climates may bite.

Best of luck!

vettepilot

 

[TODD L GRIFFITH]

Very sound advice Vettepilot. It would be great for him to get out all together free of any finacial obligations. The timing factors for both parties could put off a sale until next year baby in tow. It sounds like he still owes more than its resale value.

 

[Z06ADCT]

spoke with my dealer today to see what he would give me for my 2004 yellow Z06 with 1100 miles my wife and i are going to have another baby can't wait. I don't need to sell just thought i'd free up some money he told me low 30's. He said wait until all the 04's are gone then it would be up in the high 30's low 40's. I couldn't believe in 5 months the price has dropped almost 15,000 I knew it would drop with the c6 coming out. anyone have any thoughts.

The dealer is lowballing you. You can check local newspaper prices as well as autotrader.com to see what the private sellers are asking in your area. In Aug, I purchased my mint 2003 Z06 with 9444 miles. It also included most of the mods. I got it for $37,500 and I saw many other less equipped cars going for high 30's and low 40's. The window sticker for mine one year ago was $52K. I checked local dealers and they wanted mid to high 40's for 2003 Z06's with no mods that were on their lot. When I financed through my credit union, the blue book was in the mid-40's and therefore they didn't have any problems financing it for me. Price it fair and sell it private party. For price values, check out kbb.com and edmunds.com. I imagine it will go pretty quick cause alot of the ones I called on were already sold when I called. I primarily used autotrader.com. Good luck and congrats on the new kid! Let us know how you made out on selling it.

Craig

 

[Pac-man]

Never trade a car, well unless you're comfortable giving away your money. I can't believe people actually consider trading in a vehicle, especially a Vette. You will lose thousands. Priced fair you will sell it privately with relative ease. Autotrader.com is great. Good luck.

 

[slong]

First off congrats my friend. You have already read this. Wait a while to sell if you can. Private party would be best. There out there because you have a one owner "driven" Z in the garage. To me a used car at the dealership means everyone has test drove it. Good luck. Hope you keep it in stead.