Please don't take me wrong, I feel your pain in the wallet but that is what they should be doing with a car such as this. Z’s are meant to be driven, not investments. If more people watch this trend we won’t have dealer gouging consumers as bad as they are. The market simply won’t take it. It comes down to how much extra do I need to pay to have the first one on the block. If the entertainment value is high enough and you can afford it, go for it. Hopefully this will keep some of those people who purchase the initial release cars as investments from doing such. Let the prices correct themselves back down sooner so those of us who actually drive these cars can buy them sooner for a reasonable price.
Your sick? Think of those guys that paid the $10-25,000 premium to get a C6 Z06. Those guys might actually be on suicide watch. For me I think its great that the ZR1 may drive price down a little more on a Z06. This will allow me to add one at a reasonable price to my garage along with my 04 Z06. At 60yrs old everything I am buying is for life. I will let my heirs sort it out after I am gone. I have pissed away too many great cars in my life time and now I am into keeping my Corvettes for life.
I don't think that the ZR1 will have a significant impact on pre-owned Z06s! It (the ZR) is its own model - sitting alongside (so to speak) the Z06. Z06 is, after all, still in production.
What's driving down current values on preowned Z's (and pre-owned everything else's) is that fact that new car sales in the U.S. are currently at a 10-year low!!!! If you are lucky enough to be a buyer right now, NOW'S THE TIME!
You don't buy a plastic chevy for exclusivity or value. Don't get me wrong, I have one and love it, but I sure didn't buy it for investment value. It's just another depreciating, fading, rusting, bucket of bolts; nothing more than a long-term trip to Vegas, you just lose a bit slower.
You don't buy a plastic chevy for exclusivity or value. Don't get me wrong, I have one and love it, but I sure didn't buy it for investment value. It's just another depreciating, fading, rusting, bucket of bolts that's nothing more than a long-term trip to Vegas, you just lose a bit slower.
You don't buy a plastic chevy for exclusivity or value. Don't get me wrong, I have one and love it, but I sure didn't buy it for investment value. It's just another depreciating, fading, rusting, bucket of bolts that's nothing more than a long-term trip to Vegas, you just lose a bit slower.
I guess some take better care of cars than others.
I have cars that are over 50 years old and you wont find a speck of rust on them. I didn't buy my Z for an investment purpose....I bought it because I wanted something that takes over an hr. to wipe the grin off of my face after driving it. And that my friend, is priceless.
Will it go down in value? Sure. Do I care? No. My Z will NEVER turn into a "rusting bucket of bolts" (at least while I'm still alive).
I didn't buy my Z for an investment purpose....I bought it because I wanted something that takes over an hr. to wipe the grin off of my face after driving it. And that my friend, is priceless.
Will it go down in value? Sure. Do I care? No. My Z will NEVER turn into a "rusting bucket of bolts" (at least while I'm still alive).
My point precisely. We bought our cars because we enjoy them, not because we can justify the expense as necessary, or call it an investment. And yes, my car is generally spotless too, although it occasionally picks up a few beauty marks from the track. Like Levon, war wounds worn like a crown.
Location: South AL/// Z06 Fest Participant I, II, III, IV, V, VI, VII, VIII
Posts: 2,165
Re: C6ZO6 killed by the ZR1! Thanks GM!
C6 Z06s will continue to fall like a rock for the next couple of years. You had to have known this when you bought it. This trend has been around since the Model T
C6 Z06s will continue to fall like a rock for the next couple of years. You had to have known this when you bought it. This trend has been around since the Model T
Unless, of course, Obama gets in and orders Bowling Green decommissioned and then the Z's go up in value...I know it's true, I heard it on Rush.
I think the ZR-1 will have a similar fate of the ford GT....It will only go up in price. The Z06 will hold as well as any nice car, but won't go up unless something shocking happens to our laws...But I'll have mine...
Let the prices correct themselves back down sooner so those of us who actually drive these cars can buy them sooner for a reasonable price.
Goodness. This place is becoming like CF and the mythical $40K Z06, even at that price most of the cheapskates on that board wouldn't a) buy one b) be able to afford it. The C6 Z is not going to go anywhere south that soon, the LS7 will be retired and there will be no more 427s. Does this mean it's going to appreciate? No. But it does mean it's probablly not going to freefall. Not to mention that the ZR1 will be a $150K car, and won't really effect the sales of the Z.
Now, in regards to the auction: what options on the car? Was it a stripper? If so, that's not all that shocking.
Finally, don't take the internet as a gauge for "true" value of cars. As Defender noted there are guides that use real data to look at value, not what some jagoff has posted his cousin's brother saw on Ebay. The economy is going through a roughpatch, and people are unloading things they can no longer afford. Hopefully those people who couldn't afford this car to begin with, will sell, and then the market will bounce right back.
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Current: 2006 C6 Z 2LZ
Previous: 2003 C5 Z06
DD: 2008 Jeep SRT8 All options
Cars are never investments (unless it's something ultra exotic). Drive it and enjoy
Ding ding. We'd all be better off from a money standpoint if instead of driving $75,000 Corvettes we took that money and invested it. But where's the fun in that? Any car (INCLUDING THE ZR1) is going to depreciate. Period.
I Have 110,000 In My Zo6 C6 I Dont Care. My Zo6 Will Eat Up Zr1 For Breakfast Spit Out For Lunch,to Each His Own, Have Fun With The Baddest 427 Around, I Will Pass On The Truck Motor
To me the value is in what it's worth to you. I didn't buy my C6Z as an investment, I bought it because that inner child just HAD to have it. That same child has been smiling ever since. I bought mine in '06 for a couple clams over sticker, but I had the enjoyment of having the top dog ride for quite a while.
Are they going to make bigger-better-faster-more cars? Certainly. Does that mean that my car is 'obsolete'? Hell no! She's coming out of the shop with a host of goodies that should put me at about 600hp at the flywheel. Smiles per mile, I would have to say the Z was a GREAT investment and will continue to be for me.
I guess I look at things just the opposite of "SonofaDragRacer". With limited first year productionof the ZR1, real world prices will be 125,000 to 150,000. Whatever the market will allow. With prices like that, the market for a 70,000, 505 HP Z06 will remain fairly solid. That said, I do agree with most of the other posters that cars are to be driven not investments.
Ray
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