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Discussion Starter #1
Well with interest rates the way they are I decided to try to locate a new 02 and trade in my 01. A dealership in the St. louis area said they would only give me around 37 grand for 4k mileage 01 Z and wanted retail for the 02. Maybe it's just me but I think 25% depreciation in 4k miles is a tad extreme. :-? I guess I'll keep my 01.
 

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yep, good idea. $11k/4k miles = crap

Take that $11k you would have lost, dump it into mods, and eat the 02s
 

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Keep the '01. The used market market might pick up again, once the 0% ends on the Corvette line.
 

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INTRCUL.
A one year trade is always a tough deal to make, especially now, with the approaching winter, the low financing rates and the fact that the '02 Z06 has 405HP, has all hurt the value on the '01 Z, alot! With all that said, I still think the dealer can do alot better than a $37000 allowance for your car. I got the bug to trade my '01 Z51, 6spd. conv. in late September (had to have that 405HP) when they came out with the low financing rates. The dealer initially hit me at a whopping $12500 trading difference. I, finally, after much arguing, made the deal at $7000 difference. Which I figured was a fair deal especially because of the low interest rate that offset the price.
carzzy
 

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That sounds like the same dealer I talked to in St. Louis. They said that an 01 was worth about 37 on trade, but because they had screwed up my car they would give me 39, :puke: and sell me the 02 car at MSRP. What a load of crap. The 01 market will pick back up as soon as 0% is gone.
 

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Doesn't surprise me a bit. You could probably save 5 or 6 K by selling the car yourself and buying one from a different dealer, but even so, I don't think the difference is worth it. If you're going to take a hit, wait a year and pick up 20 more hp and a year newer car.
 

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I get real hot on this dealer trade in rip off!!!:flaming:

Here's what I found when I had my '01 Z06 up for sale this past August.....After ordering a new '02 Z06 from my salesman at Rinke Chevrolet (near Detroit), I asked him what my Torch Red '01 Z06 was worth in trade-in value....BTW, I bought the '01 from him just 6 months earlier....He checked with their used car manager and told me "$30,000." :eek: I was insulted and angry! I can't repeat what I told him! Needless to say, I would not up-grade to an '02 if that was the best I could do on the '01.
Long story short.....Sold the car to a dealer in Denver for $40,000, and he bought the car sight unseen and paid for the enclosed trailer transportation from my house to Denver! :)
I hoped to get more than $40K for the car, but the Detroit area is saturated with Vets and Chevy Dealers, plus the hyped up 20 hp increase on the '02 killed re-sale on '01 Z06's.

Dealers are so nice to you when shopping for a new Vet, but it is a whole different story, when you to try to SELL it back to them!

Zippy :z: :z:
 

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originally posted by Zippy:
"I get real hot on this dealer trade in rip off!!!

..."


Couldn't agree with you more. A dealer well known to this and the "other forum" offered me $34K in trade for my 01 Z51 MN6 loaded coupe with 3500 miles! :( Needless to say, this dealer lost me as a potential customer then and for any future purchases I make...and there WILL be more purchases! BTW, traded my coupe in for ~$40K with a dealer local to me. Bottom line: if you don't like the deal...walk away! And remember, patience is your best friend.


02BlueZ06
 

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The low interest rates are great if you're buying new but hurting the used car market. I'm trying to sell my 98 Indy Pace Car and it looks like I'm going to take a beating just because I have to have that 405 HP.:(
 

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I'm sure you have all heard the saying "You lose at least 10% the minute you drive it off the lot" -- well, its obvioulsly true.

Expect to loss at least $5K on an 01 model, no matter how low the mileage is -- unless you are really in good with your dealer. The only reason someone would not lose big is if the dealer is willing to make vertually no money on the deal :)
 
J

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This is my suggestion for rationalizing the trade in for a year old car..any car!

Get the yearly lease cost for the car..then subtract that from your purchase price..

I'd bet thats a fair way to successfully sell your practically new cars..


I'm not saying this to piss you guys off but to help in the mental process of finding the right deal for yourselves..

Good luck and to be honest..what are you guys going to do when they find maybe another few ponies for the 2003 zo6..

Keep the cars you have!

No body could really tell the difference..

Did you guys read the rave reviews on your o1's?

THE WORLDS BEST SPORTS CAR..IN 2001 AND 2002!

Never think anything else....

If your hungering for a little more..throw the rear shocks from an o2 in and an aftermarket air box if you so choose..( ps..I like the sidewinder..LOL )

For 500 dollars..your good to go! Maybe another couple of bucks for the shocks..


Want more? Throw headers on for another 1400 installed and your right up there...

Want even more.throw a better cam in there for another 1500...

You'll be throwing out..400rwhp easy!

Just my two cents!
 

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That is because the dealer's want to make 5k to 7k on new Z06's and 5k to 7k of used Z06's, good work if you can get it.:(
 

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Discussion Starter #16
I understand that last years model has to drop at least 4-5 grand on trade in but we're talking 12g's. They make about 6g when selling for retail and most used 01 Z's in this area go for mid $40s. It was still a slap in the face. I guess that just allows more cash for parts!
 
J

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12 grand is like a rape..You planning the right direction..Stock the car is great!

The 2001 is an amazing car right out of the box..

Worlds finest!
 

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The dealers are unbelievably greedy. One offered me 35 another offered me 33. I am going heads, cam and a few other goodies. All the car needs is another 100HP. :D
 

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Re: 12 grand is like a rape..You planning the right direction..Stock the car is great!

JBsC5 said:
The 2001 is an amazing car right out of the box..

Worlds finest!

JBsC5 is absolutely correct!! :yeadog: I traded my 99A4 in and I had to bargain them up to 27800! Of course they took 2000 off msrp and the 0% financing. But with the lux tax and Md. state tax of 5%, it came right back up to msrp! I lost 10K on my deal, but I figure I got one hell of a Vette!!:cheers: :cheers:
 

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I have a like new 2001 Z06 with only 1600 miles on it that has been on my lot for almost 30 days now and has not sold. We are asking $42000.00 for it. Is it worth 42, I guess not if no one will pay that. Is it worth 40? Maybe so but if it is worth 40 then for us to make anything on this car we have to have less than that in it. I know I will get flamed on this but we dont set the market you folks do. If this like new car wont sell for 42 then how will one be worth that on trade?:-?

Will anyone give me $40,000.00 for this like new 2001 Z06?
 
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