How much is my 2001z really worth?? - - Corvette Z06 Forum
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post #1 of 8 (permalink) Old 09-08-2012, 09:39 AM Thread Starter
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How much is my 2001z really worth??

Ok, so after almost ten years (I'm second owner--first owner had it for 1.5yr) I'm finally looking to trade in my 2001 Z (torch red, 19,500miles) on a porsche (you've seen my previous threats over the years).

I went to two dealers who had the cars I wanted and both said that Kelly Blue book and Edmunds trade in values were "Way off" and they go off of Manheim auction values (which they wouldn't show me but assured me of the price). I tried to look those values up myself but you need to be a licensed dealer to search that one.

Question: How much should I shoot for on my trade? I might sell it private-party, local ads are between $27-$30K for similar but I know that's not what they're willing to take. (if it's only a few bucks difference it might not be worth the hassle to me but how can you tell?) Is there a "rule of thumb" on how much on average you can deduct for what the seller really wants?

Thanks in advance.
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post #2 of 8 (permalink) Old 09-08-2012, 09:42 AM Thread Starter
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Re: How much is my 2001z really worth??

Forgot to mention: have wilwood sl6 (fronts), Borla stinger exhaust, Volant intake and hurst shifter. Those cost me around $3k total. I still have all OEM parts. Should I take it back to stock and ebay/craigslist those parts or leave them on, and sell the OEM parts?
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post #3 of 8 (permalink) Old 09-08-2012, 09:51 AM
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Re: How much is my 2001z really worth??

I work at a Dealer in Dallas Tx.

They are right, KBB is not accurate. The only useful purpose it serves is when you total you car, you can use it for insurance purposes.

Maheim is an accurate database and it is what we use.

Here is what I estimate your car would bring on trade anywhere from $18k-19K. (these are Manheim numbers) The reason they will not show you the Manheim number's is because they have to adjust the Manheim number in order for them to make money if they have to take it to the auction.

For example: if you car sold for $20,000 at Manheim, they would probably back that up to $18,000-$18,500 so the dealership could have a small profit.

Condition does matter for sure, i.e. paintwork, clean carfax, tires, etc.

Another note: Modifications do not add much value to the car. This is what I tell my clients, modifications is the owner personalizing his car toward his own tastes, not much more. I would sell those items separately on craigslist.

..Surgeon General never said anything about smoking a Ford..
2003 Z06 Yellow/Black/Black, B&B PRT's, Vararam Intake, No cats, TSP Longtubes, Eibach Lowering Bolts, 78k miles
2001 Porsche 911 Turbo 996 Cobalt Blue/Black-65k miles-SOLD
2008 Harley Davidson 883 Sportster-9K miles

Last edited by lemans405; 09-08-2012 at 09:57 AM.
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post #4 of 8 (permalink) Old 09-08-2012, 10:33 AM
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Re: How much is my 2001z really worth??

welcome back
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post #5 of 8 (permalink) Old 09-09-2012, 09:16 AM Thread Starter
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Re: How much is my 2001z really worth??

Thanks leman405,

As someone outside the dealership arena, it's tough to figure out what I should expect to get/pay for a car. Prices vary so much for similar vehicles.

If what you say is true and manheim is the way to go, I wonder what the porsche I was looking at was really worth, since they were asking about $20k more than KellyBlue book. Does that mean I can get it for $15k or more off asking price (considering they are a dealer and need to make some profit).

I think I'm going to list it myself and see how much more I can get. Considering the tax reprieve I'd get doing a trade-in I'd need to get an additonal $1,500 from a private-party sale to break-even. I wonder how hard it would be to get $25K selling it on my own.

I can see if it were in rough shape someone might just get rid of it at an auction but it's pretty much perfect so I think that's why my dealership offers were more than those manheim numbers you quoted. I'm sure they will keep in on their lot to sell.
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post #6 of 8 (permalink) Old 09-09-2012, 09:30 AM Thread Starter
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Re: How much is my 2001z really worth??

Thanks Mike,

I've been busy with two kids and job change, hence the hiatus. I have to say this site has been an awesome resource over the years and I appreciated all the advice. In fact, my decision to sell was based on the comments here about switching over the bushings and suspension setups/steering rack bushing to try and get that "porsche feel" and the disaponitment people have had on dual-useage (street/track).

Since I do only two HPDE/PDX's a year and quit trying autocross last year most of my driving would be on the street and the squeaking/"creaking" would probably get to me after a few miles on the highway, I think the porsche is the way to go for a while. I love the vette and will probably buy another one when the kids get older. Nothing matches the engine sound and all-around torque you feel and the design is timeless. Not many other cars can be 10+ years old and still look sexy. Plus it's fiberglass and won't be a rust-bucket later on.
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post #7 of 8 (permalink) Old 09-13-2012, 11:03 AM Thread Starter
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Re: How much is my 2001z really worth??

Strange, my post shows "more than 30 replies" but I only see two. Not sure about that one.

I listed my car for $27,5 for now. The more I can get for my car, the more porsche I can buy and vice-versa...reminds me of the real-estate market

If I can't sell it I was thinking about those new Johnny O'connell shocks and sway bars to at least give it some "newness factor" for me and won't cost too much if I'm gonna be driving it for another year.
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post #8 of 8 (permalink) Old 11-25-2012, 11:44 AM
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Re: How much is my 2001z really worth??

From what i see in california, dealers hold a car 30 days, then reduce the price, another 30 days and another reduction. after a total of 90 days they dump it at auction.
Look at kelly blue book a 2001 z06 with 99000 mi is worth more than a 2003 z06 with 99000 miles. ?????
Are the guides just a mathmatical formula or based on actual sales data.
The auction sold price may not even be accurate. I've seen chevy pick ups sold at auction several times each 90 or so days apart to various dealers. Each one tried to sell it and couldn't and another would try.
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