Will the C5's drop in price once the C6's are out?

[Bender]

I assume so, but I am not sure and if so how much of a price drop do you think there will be? I am looking to get another corvette Hopefully a 99 for cheap, also how well do these cars hold up with a lot of miles on it? If I got one with over 50k for cheap am I going to be having problems 50k miles later? O by the way not now but in the next two years.

 

[Vettelt193]

I think they will go up in value after C6's hit dealerships... why? C6's will sell for sticker price at a minimum so C5's will hold their value or increase in value.

 

[Deluxe]

They have already dropped... in some cases a lot. Dealers are taking losses (or at least reduced profits) in order to build their future allocations. They will get list or more on the C6's. The current C5's have more value as a tool to build their allocation than they could get on the markup.

 

[Tom73]

The bottom has fallen out on new C5s. That has to effect the older C5. If you can buy a new '04 C5 for less then you can an '02 C5, the price of the '02 will be forced down.

But once the new stock is gone what happens. I would guess that the price will stay depressed since there is a newer and greater model out there. The C5 prices will now be in a slide for the next 20-25 years until they reach collector status, then they will start back up.

tom...

 

[Vettelt193]

The bottom has fallen out on new C5s. That has to effect the older C5. If you can buy a new '04 C5 for less then you can an '02 C5, the price of the '02 will be forced down.

But once the new stock is gone what happens. I would guess that the price will stay depressed since there is a newer and greater model out there. The C5 prices will now be in a slide for the next 20-25 years until they reach collector status, then they will start back up.

tom...

I disagree. When the new C5 stock runs out and the C6 is all you can get, I think C5's will go back up in value, then go on their downward slide.

Imagine a year from now, when C6's are selling at sticker price, say $55k+ for a 'vert. you can buy a brand new '04 vert today for $13k less than that. If you want a vette with a warrantee and either can't get your hands on a C6, or can't afford the premium, you will look at a late C5... I think a C5 in the upper 40's (say $47-48k) with low miles would seem like a pretty good deal then.

This same thing happened in when the C5 came out. Dealers were giving bargains on C4's, and getting more than sticker for the C5. The prices of the C4 actually went up in value compared to what dealers sold them for... The C4 prices started to go back down after the C5 became more abundant, and dealers were offering discounts on them.

 

[Edmond]

We can't really compare the C6 debut to the C5 debut. We all know that in the mid 90's, Corvette was struggling. But the C5 really brought the car back to the world stage and mainstream status. The success of the C5 has no doubt increased the expectations and desireability of the C6. Afterall, it's supposed to be "better" right?

With that being said, people will want the C6. From people who have C5's that want to be the first to have it to the dealers who want to sell more of the C5's sitting on their lots so they can have a larger allotment of C6's and therefore sell C6's at sticker and make more money.

 

[Bender]

Hopefully in two years I will be able to pick up a 99 for about 22k.

 

[Barry Hanna]

C6 Ugly Stick

The C6 is ugly ... all the way to the bone. Therefore the C5 will not only hold value but increase in value. Only one man's opinion.

 

[Guy]

Hopefully in two years I will be able to pick up a 99 for about 22k.

You can do that now if you look around. I picked up my 99 in April with only 10k miles on the clock for $25k and I found several others with similar mileage at that price.

I believe the used C5's will be just that - used cars. Let's see how correct/incorrect we all are a year from now. It will be interesting.


Guy

 

[Bender]

You are right I found one a sports pkg one with 6spd manual for 22k. So in a year from now you think I could get one for like 20k? Also If I got a corvette with like 70k miles is the thing going to break another 20k miles later because I know how much repairs are to corvettes. Arg I had the chance to sell my 81 and my eclipse and get a 97 with 14k miles on it that been in garage for years. I kinda of wish I did but I like both the 81 and 99 they both have great things about them. O well, Im sure years down the road I would have regreated selling it.

 

[Scott Winebarger]

There is a dealership here in Ohio advertising
100 New C5 Corvettes any color
15 grand off list price ,

Its in Amherst on Rt. 58 ..Thats a new C5 for what .. 35 grand?

 

[Bender]

lol Im 19, I dont have the money to go out and buy a new corvette. I just found a nice one on Ebay with 58k miles on it for 20k, some scracthes and a crack on a side panel, I could live with that.

 

[Tom73]

.... Also If I got a corvette with like 70k miles is the thing going to break another 20k miles later because I know how much repairs are to corvettes.

The mileage would not concern me, I would worry more about how it was driven in getting the miles. Does not apply to C5 but I bought my '90 with 70,000 on it. Now has 140,000 and is running great. One major repair, at 90K lost 3rd and 4th in the automatic trans. But that is about right for the chevy auto from what I have read. Basicly the car has been a fill with gas, change oil, and wash type of car. Made major trips in it the last three years and not one problem. So I would not worry about miles, worry about overall condition.

tom...

 

[Bender]

Do you think less then 20k for a 99 with like 70k miles on it is possible, if so I will be getting another vette soon

 

[Guy]

Do you think less then 20k for a 99 with like 70k miles on it is possible, if so I will be getting another vette soon

You can now. I did a search here: http://www.collectorcartraderonline.com/adsearch.html for 1999-2000 between $17.5k & $21k and got 21 hits. A few are damaged, but some others sounded ok with under 70k miles. Also check www.autotrader.com (part of same search company above).


Guy

 

[Guy]

Here's another that's close ($21.5k): http://forums.corvetteforum.com/showthread.php?t=839392

Guy

 

[Bender]

Well damn how much do you think when the C6's come out? 15k?

 

[Tims93]

Someone here on CAC just sold their 99 vert for 25K and that car was beautiful. Looked like it got snatched up in a hurry. Be patient they are out there.

 

[Bender]

Well a guy I knew down the street was selling his perfect 97 vette with 14k miles on it for 24k but I passed it up to repair the 81.

 

[1g1yy]

The C6 is ugly ... all the way to the bone. Therefore the C5 will not only hold value but increase in value. Only one man's opinion.

Nope! It's more than one man's opinion!!

In addition, very nice '95 - '96 C4s are still selling for $15,000 to $17,000 and sometimes more, so I don't think very nice C5s would sell for much less. Of-course what is a very nice car to one person might be a clunker to someone else who is a bit more picky! I have seen a couple of C5s that sold for cheap, and even though the new owner thought he had gotten a great deal on (what he thought was) a very good condition car, I would not have wanted the car! So many of these reports of great condition C5s selling cheap can be dismissed outright. I don't anticipate very good condition, low mileage C5s to drop much more in price because they will remain the used Corvette to have for those who want a fast, good looking, yet practical Corvette. And as has been said many people think the C5 looks better than the C6.