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Discussion Starter · #1 · (Edited)
Hi,

I can't believe I'm saying this, but I'm having second thoughts on this. Corvette is really starting to look nice now. And within my price range for a nice used one (2005-06 probably). I feel like I've made such a commentment to the Camaro, that I shouldn't stray now. I thought about just getting the Camaro first, then see how it feels for a year or two. I plan to put at least $12,000 - $15,000 into a downpayment. If I decide to trade up or resell within a few years, will I get back at least most of this to put into a Vette? I only ask because most sport cars doen't hold a good value (at least coupes). Do you see the same happening to the Camaro in the next five years?

I guess what I'm saying is if I bought one for $30,000, would it be worth at least $20,000 two years later?

Sean
 

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Hi,

I can't believe I'm saying this, but I'm having second thoughts on this. Corvette is really starting to look nice now. And within my price range for a nice used one (2005-06 probably). I feel like I've made such a commentment to the Camaro, that I shouldn't stray now. I thought about just getting the Camaro first, then see how it feels for a year or two. I plan to put at least $12,000 - $15,000 into a downpayment. If I decide to trade up or resell within a few years, will I get back at least most of this to put into a Vette? I only ask because most sport cars doen't hold a good value (at least coupes). Do you see the same happening to the Camaro in the next five years?

Sean
Pretty much makes no difference what vehicle you buy, it will depreciate immediately upon driving off the lot. Don't ever think that you'll get all or most of your money back out of it unless you keep it for 20-30 years and it becomes a valued collector item.
Clyde
 

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Pretty much makes no difference what vehicle you buy, it will depreciate immediately upon driving off the lot. Don't ever think that you'll get all or most of your money back out of it unless you keep it for 20-30 years and it becomes a valued collector item.
Clyde
Good advice right there.
 

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If you buy an 05 or 06 Vette (especially an 05), you should be able to retain much of it's value for the next couple of years. Vettes have one of the highest retained value %'s out there.
 

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Interesting concept that I don't think too much about. When I make a decision to buy a car, I plan on keeping the thing. Resale value means nothing to me because that means I'm looking to recoup some or most of my investment and to do that means giving up the car. That's not what I think about when I'm considering buying. I carefully consider what I can live with, and once I make the decision, it's mine for life. This is not to say I may not sell it later, but I never consider resale value as part of a basis for purchase.

If you're worried about resale value before you buy-- just lease.
 

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I've considered re-sale value before, but not on the 5th gen. If for some strange reason I don't keep it, I'll worry about that then.
 

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From a trusted friend in the wholesale department at a large penske dealership...buy a corvette with an automatic trans if you want to have one with the best resale value. Not sure why, but he says they tend to hold their value better and the wholesale bidders are always looking for them.

Keep in mind, we're talking about wholesale here, not retail. But I think the trend should remain...
 

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When I was shopping, M6 Corvettes were harder to find. But that's in the C4 style.
 

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Personally, I've been considering the same thing. Two things come in to play for me, though. Being 19, insurance companies laugh at me when I say "Corvette". Secondly, my first car was a 78 Camaro, and I want that car back, (Black with red stripes, 5-speed) and now I'll be getting it black, with red stripes, and a 6-speed. And finally, I don't keep cars very long. I figure if I'm going to be in debt, my debt is going to be god **** fun to drive.
 
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