I believe the world events have quite a bit to do with the depreciation of the entire used car market, not just Corvettes.
For years the corvette has held exceptional value.
Just a side note..for you guys who traded in their C5's early on for the 44-46 thousand dollar selling price of the Z......I remember guys like rat getting 33 grand or somthing as a trade in....for his 99 FRC..I could be wrong on the specifics but I know it was better than the values available today so although many of you feel shafted..
Thanks for the input guys. Unfortunately, the "local market" in my case is Silicon Valley, which has been hit very hard by massive layoffs and economic recession most of last year and especially since 9-11. To wit, my low mileage '96 LT4 has been up for sale since last Spring with no takers. (Anyone interested, please let me know by private e-mail).
JB, you're right. Some dealers are discounting a few K off MSRP and then there is the $2002 rebate incentive campaign. However, "local dealers" by and large, here in the SF Bay Area, even with economic conditions (and stock market) in the toilet, have been indiscrimately gouging the market for some time. Any discounting off MSRP has been virtually non-existant.
However, just recently "used" '01 Z06s have been showing up on dealer's lots at about $4-5k under MSRP.
Rick, the one you mentioned is a very low mileage "2002" Z06, correct???
$44.9k for a "slightly used" 2002 Z06 seems a bit low unless it has some minor cosmetic problems or more than a few thousand miles.
Has anyone else heard of any other recent '02 sales? What are they selling for?
dont worry yall, its not just vettes im trying to sell a car in mint condition and have people offering me crap for it!! Ive just decided to put it up for 100bucks above what i owe to get it off my hands!! lol OH well if anyone needs a honda in mint condition.lol HOpe yall get what you want for your cars!!