What will C6 do to C5 Prices?

[Gambit242]

I'm considering purchasing a C5.. I've always been a fan of the C5 body, but wanted some feed back from everyone here..

What do you think will happen to the prices for used C5's over the next few months?

Should I wait?

Thanks in advance for your feedback.

Philip Nelson
Monroe, LA

 

[JBsC5]

Usually as a new generation comes out...the older generation takes a bigger than normal yearly depreciation..

Is it worth not having the car to enjoy now? Thats a decision only you can make..

What type of corvette? What year? What options...What color your looking for as well as what price you want to pay....should give insight as to when to buy...

I have heard january 2003 detroit show release with a June/July production car delivery...

Its just a guess on the beginning on the delivery on the C6..

I believe the C5's will take a hit on depreciation at that point as C5's get traded in or sold for buyers to pick up the newest Corvette..

Greater supply..= lower prices..

Still..if you find a car thats close to your target ..buy it and enjoy it..

You never know when your numbers up.

BTW GREAT CAR! GOOD LUCK

JB

 

[mcditalia]

I don't think used c5 prices will be effected too much when the c6 comes out, maybe a bigger drop than usual in the c5's that are a couple of years old and more $$lost with the 97's and 98's depending on mileage and condition. I've seen used 97's that are priced close to the 96 c4's that are low mileage or collector editions. Some 97's have sold in the low 20's now. Overall, I don't think there will be a dramatic price drop when the c6 comes out. Obviously, the price of the new c6 will influence this factor as well.

 

[Gambit242]

Awesome advice!

I like you comment "You never know when you numbers up"

I'm interested in anything from 98 up... I mainly want the C5 body style and a low price..

I had an 87 which I sold when I got married in 93... ;( and have wanted an adequate replacement since..

I made a huge mistake in 98 ... I was looking at used vettes, but somehow got distracted and purchased a new Mustang GT convertable... I enjoyed the car, but took a BATH on it when I resold it in 2001.. Should have just stuck with the vette plan.. ;->

Now I've come to my senses and I'm back on the vette track..

I would love to find something in the low to mid 20's... Silver, Black or Red... Black or Grey Interior.

I would love suggestions and advice on what to be looking for..

See Ya,
Philip Nelson
Monroe, LA aka Funroe, LA..

 

[LongTimer]

IMO: There is merit in both previous posts. IF the C6 price stays in the immediate vacinity of the C5 AND there are plenty of C6s available for sale, the late model C5s will take bigger reductions on resale than the earlier C5s that are closer to "bottoming out".

If the C6 has a SUBSTANTIAL price increase, there will be less of a reduction in resale - if any for late model C5s. Earlier C5s will benefit from a Large C6 price increase to a much lesser degree.

That said, I think the C6 price increase will be quite small, if there is one at all. The sharing of costs with the XLR should off-set the added costs of the new features. The C6 will also have many more options than the C5 and most cars will be well equipped which will "artificially" raise the price of most C6s.

 

[TomOB]

I know no one wants to hear it, but the how the c6 is received will have a long term affect on prices.
I'd say buy what you want now. I've been up and down the corvette generations thinking about what to buy....4 years ago, only a 69 convertible w/ side pipes was acceptable, now i'm looking at late c4s or early c5s. I have a good feeling that my desires will continue to oscillate and I will keep chanign my mind.....I say look now and if somethign does hit your target...go go go....but if not, then you'll be in a position to see the c5 price move yourself.
I feel like i'm in a training seminar i took today about economic indicators...one person asked if there was a direct relationship between stock prices and only one indicator....it's like this because there are so many factors (including the economic future) that we wont know until next year anyhow.
You could, if you wanted, take a look at how 2004's are doing. a very low demand may signal that alot of people want the c6.

 

[hawaii-5-lo]

aloha, i purchased my 99 a little over a year ago.i was thinking like you wait until c6.life is too short.i dont think the c5 will go down as much as other generations,maybe the first year.my thinking is the c6 is not a totall redesign.the two cars will look similar,with cammo they look real similar.only the 'i must have a brand new car'people will jump right away.
plus they only made the c5 for 8 years.there arent as many to go around.this whole week in the paper in hawaii there is no used c5s,sometimes there one.i ened up with black one because there was only two for sale at the time.
its probably close enough to c6 delivery to were you could still use it in your favor.look at the car you want,then tell the sales guy(as walking toward door)maybe i'll wait until the c6 comes out,see what happens.good luck,its an awesome car and i've been modding mine,when c6 does come out,i'll be able to smoke one later,Todd.

 

[Vettelt193]

Even if the price of the C6 is the same as the C5, the demand will be higher, thus making the discounts less (or no discounts at all). This usually makes the C5 prices depreciate less than usual, not more than usual. late C4 prices stayed very high for a couple of years after the C5 came out because the C5's had higher prices plus no discounts. I expect the same thing to happen to C5/C6.

 

[CFour]

Drop like a rock. For years now C5 prices have been over inflated.

 

[Gambit242]

I'm seeing C5's in the low to mid 20's... Do you think they will go much lower than that?

See ya,
Philip

 

[hawaii-5-lo]

:eyerole

 

[LongTimer]

I'm seeing C5's in the low to mid 20's... Do you think they will go much lower than that?

See ya,
Philip

The vast majority of all cars end up as junk. IF you wait long enough, you may find a warnout pile with a vette emblem on it somewhere for $1,500. You will then spend countless hours and 30-35k restoring it.

Find a vette, equipped the way you want it, with the lowest miliage you can aford and buy it now. Lower miliage Vettes that are currently in the $20s are not going to drop in price at C6 introduction.

Have you been watching Vette Finders?
Vette Finders

Good Luck

 

[Gambit242]

True.

I'll check out that site!

Thanks for the tip.

Philip

 

[danl72]

I don't think the prices will go down that much. They may dip a bit, but not too much. I think if you want a C5 now is a good time to get one because you can find one in the $20,000 range. Of course it depends on the year you want as well. You can not go wrong with any year Vette.