golddog

July 3 may be my last day with the TL. Not 100%, but I may be trading it in for a 2004 Corvette. Hate to part with it but cant pass up the deal on the new Vette. If anyone is interested in buying a 2004 TL, black, non-nav, drop me a line.

Tripp11

Hope you have a second car to drive in the winter because that Vette will be just like a washing machine: it will sit and spin.

brahtw8

I am not interested in the car, but I would like to know how much you are able to get for it. In fact, I think I may start a new thread on that subject some day.

golddog

I was quoted a trade in figure of $26,500.00. There is not much play in that figure because the Vette was $50,345.00 discounted to $39,300.00.

brahtw8

How many miles on the TL? Transmission type?

It will be hard to figure out what the real trade in value was, as they can always hide an extra discount on the vette with less trade in on the TL. In other words, if they gave you an extra 2k off the vette, but 2k less on the TL, the trade in would really be around $28.5k. I don't know if that is what happened here, mind you, but it seems like a possibility.

Do you think they would sell you the vette for $39,300 cash without trading in the TL for $26.500?

rets

You mean Corvette Z06 Hardtop 2-door Coupe 6MT? If so, this is very good price...

batting_cleanup

One of the reasons they are discounting the Vette so much is a new model is due out next year. Supposed to be quite different from the current model. That is a great price on the Vette but you will see a significant depreciation in that new ride real quickly. Good luck and let the board know what you end up getting for the TL if you sell it on your own. I would drop by a CarMax if there is one in your area and see what they will offer you. It only takes an hour, or less and at least you will know if the Chevrolet dealer is treating you fairly.

golddog

My TL is a Auto w/4K. The dealer I purchased it from offerred $25,000 as a trade-in. Tax on 40K in IN would be $2,400. Therefore, I would have to sell the car for $29,000.00 just to break even with the trade in figure. Vette depreciation is minimal even with the new model coming out. Many are not happy with the VIPER look of the car (exposed headlights) and the 5K markup right now.

PeterUbers

iTrader: (1)

I think you'll be ear-to-ear in your new Vette... I would love to have one in my garage! Congrats. What color did you choose? (that's a great deal on the vette, btw...)

jjsC5

Good luck on the Corvette. I'm "jschindler" on the corvetteforum.com.

I love the C5 (I'm on my second now). I do have a C6 on order, but I think the C5 is a great deal at the prices now available. I think the C5 is such a great car that there is no harm on jumping on this deal even with the C6 coming out.

As to resale on the C5, I dissagree with the post above. The C6 will be selling at and above list for the next year or two. That will actually hold the value of the C5 up - there are always going to be more buyers for a car at $35 - 40 than there are at $50 - 55. If the C5 was a piece of crap, that would be different - but it's not.

golddog

The Vette is a LeMans Blue Commemorative Edition with Shale Interior. It will be a daily driver only until I secure a good, low mile, used car.

2004MT6TL

hope you enjoy the instant 20k depreciation on the vet as soon as the 05's come out.

brahtw8

Judging by the current value of an 02 Z06, which can be had for $35k all day, I think you will see significant depreciation of the C5. If you can buy a 'special' C5 for $39k today, what does that say about the value of a slightly used 03?

As for the C6, unless GM limits production in the first two years, I don't think you will see the car selling at a premium for more than 6 months beyond its introduction. Perhaps initial demand will be so strong that the waiting lists will last longer than that, but my sense is GM will meet demand with increased production. The car buying public is ficcle, and today's hot item is yesterday's old news. The C6 will likely suffer the same fate. It sounds like a good performance value, but there are so many other things lurking on the horizon to steal its thunder, if only for a moment until the next big thing comes along.

Bobzmcishl

I was tempted to dump my TL for a used 2001 ZO6 with only 8500miles on it. Asking price was 34k but it also had a set of $ 5000. wheels. But I would not be able to afford the alimony payments so I backed off. The new C6 will have almost the same HP as the Z06so they could not the value of current Z06's down. GM cars overall are not selling well since most of them are overpriced compared to foreign competition. The vette is just about the only good car GM makes, except for possibley the GTO which is a "halo car".

golddog

If we worried about depreciation, we would never buy a car. 20K is a little extreme.

PeterUbers

iTrader: (1)

Amen .. golddog obviously knows he's not financially in over his head -- he's buying a true sports car .. that's the main point -- that smile will never leave his face once he drives off the lot w/ his Vette.. give the man a break.

Tripp11

I concur with the other posters, the Corvette is a true American sports car; however, I was serious in my first post - are you worried about driving it in the winter? Or do you anticipate getting the used car prior to winter hitting?

I just know the last thing I would want to do would be drive my work commute in a RWD HP/torque beast like a Vette in the winter.

golddog

The VETTE will not be driven in the winter. Though recently we have had very mild winters, and when it does snow it is plowed relatively quickly, the VETTE will not see winter.

PbPedis

Don't worry about depreciation. All cars depreciate. You're getting a great deal. I constantly have a sh!t eating grin on my face when I'm driving my Z06. You will absolutely love that car. BTW, there are some dealers discounting the C6. You'd have to be crazy to pay a premium above MSRP. I refuse to pay MSRP or more for ANY car.

mobilezen

I'm not a fan of Corvettes muchless any american car from bad experiences in the past but best of luck.

jjsC5

You need to understand the "laws" of depreciation. The value of a fairly late model used car is directly proportional to the price you pay for a new one. One of the things you are fogetting is that he is buying the car at 20% off of list price already. The C6 will hold near list for a couple of years - there is way too much history to dispute this. The first year is basically sold out already at or above list. Now, if you don't buy the C5 at a deep discount, then you are going to take a bigger hit. But you can't lose at 10K off.

As far as GM meeting demand - again, you need to know the history of Corvette's supply and demand. They build approximately 35,000 Corvettes a year. That's all they can build - all they have ever built. And they sell close to that every year. On the C5, they only got into the current deep discounts six and seven years after it came out. And consider this - even with all the discounts available now - a 7 year old Corvette still sells for about 20K. This is a car that listed for 40 - 42 K brand new. That my friend is very close to 50% resale value at 7 years old. Only exotics do better than that.

brahtw8

While I appreciate the 'education', I am not saying that a person paying $39k for a C5 today is going to lose their shirt with depreciation.

Rather, the overall C5 values will drop as a result of the C6 introduction. And you are quite correct that low selling prices for new C5s act as the ceiling for used C5s.

On the whole, vette resale is quite good, but for the guy who paid $50k a year ago that is cold comfort for the loss of $15k.

SilverIce2000

dude i know someone that may be interested in ur car if its not sold yet...
i tried emailing you or seind private message but not able to... please email me or send me private message... my email is hiren.patel02@stjohns.edu

thanx

GaleForce

Personally I wouldn't buy a late 04 vette if a new one was coming out very soon, and a complete redesign at that. Unless of course I hated the new design.

Either way, the vette is pure sport, and if thats what you want, you won't be happier in any other car for that price. Have fun!