"JR1" (type35bugatti)
02/07/2015 at 11:30 • Filed to: HLWG, Corvette Z06 | 0 | 15 |
Welcome to How Low Will it Go? In this game we will try to predict the low point of a cars depreciation curve. Keep in mind we cannot predict inflation rates, therefore keep all predictions in 2015 dollars. Enjoy and good luck!
Today we will be looking at the 2006-2013 Corvette Z06. With 505hp and a 7.0 liter engine this car is no sloth. Zero to 60 happens in 3.7 seconds and the Vette was only available with a manual transmission. Keep in mind this had only minute changes made throughout it's lifespan. Certain cars such as the Centennial edition above may be worth more but I want to know your ideas on the overall average price of this car. What makes the Z06 interesting in this vintage is it must play second fiddle to the Zr1. Keeping all of this in mind what will the Z06 one day be worth?
Hint: A strong argument could be made this is the last NA high performance Corvette. Will that effect pricing?
!!! UNKNOWN CONTENT TYPE !!!
GhostZ
> JR1
02/07/2015 at 11:40 | 1 |
A clean, well-maintained 2006 Corvette Z06 costs ~$40,000 . It's original MSRP was $65,800. So it's maintained its value, but the market is also saturated with low milage quality examples. There's also a lot of hype right now for the C7 , raising the corvette brand image.
I think once mileages on these cars tip the 60k mark, and owners start lowering their expectations, prices are going to plummet. Probably whenever the C7 hype dies down.
I'm guessing the lowest we'll ever see it is $12,000 in 2014 dollars, so if it hits that price in 2020 (likely) it will probably be for sale for $14,000.
After that, prices will diverge into high-milage modified and repairable models floating in the 8000 range, and very low-milage classic examples in the ~15,000 range.
JR1
> GhostZ
02/07/2015 at 11:59 | 1 |
Really that low? If so it will be the bargain of the century. A current C5 Z06 doesn't even go that cheaply. Your logic appears to be solid however. I wasn't expecting the vehicle to be that cheap ever though.
GhostZ
> JR1
02/07/2015 at 12:17 | 0 |
In 2020, it will be a 14-year-old car.
The C5 Z06 is 14 years old and is approaching the $15k mark for higher mileage examples, and there are far fewer on them on the market.
There will obviously be more expensive, very nice condition ones for more, but if you want the lowest price possible while still being well-maintained and drivable, I don't see much more than $15k and I would bet prices eventually hit $12k before they start climbing, albeit slowly.
JR1
> GhostZ
02/07/2015 at 12:25 | 0 |
That is a good point. The higher availability of the the C6 Zo6 my drive the costs down. In 2020 there may also be a new Vette out and if that is the case the C6 Z06 will likely have hit rock bottom.
DrScientist
> JR1
02/07/2015 at 12:38 | 0 |
depending on production numbers, id say low will be ~10k.
i think we'll see todays modern cars be more difficult to reach that appreciating classic status and simultaneously, hit lower lows than we've seen before.
as tech changes and the rate of tech changes increases, it'll be more and more difficult to keep these cars running, which will drive their values down. im imagining its much easier to keep a 35 year old corvette on the road to day, than it will be to keep a 10 year old car on the road in 20 years.
GhostZ
> JR1
02/07/2015 at 12:47 | 0 |
Given the rumors about the C8, it may be out as early as 2017.
JR1
> DrScientist
02/07/2015 at 12:58 | 0 |
I can understand that argument. But I also think the repair shops will find a way around it. The modern cars may not be as easy to DIY as the classics but I still think it will be possible to maintain them.
JR1
> GhostZ
02/07/2015 at 12:59 | 0 |
I really hope not I would hate to see the Stingray leave the party so quick.
GhostZ
> JR1
02/07/2015 at 13:04 | 1 |
My guess is that they'll run it alongside the midengined C8 for a few years, but the Z7 Z06 may be discontinued to avoid cannibalizing.
DrScientist
> JR1
02/07/2015 at 13:18 | 1 |
the key distinction there is possible vs easy.
and whether the possible = expensive, and then whether expensive is justified. if not, then the overall value of the car will go down.
dirthoon
> JR1
02/07/2015 at 16:51 | 1 |
15-30k While the c6 sold in larger numbers then its predecessor there are reasons for it. It's far different from the base model, packs a historic 427, and is generally a pretty livable machine. I think the big reason the c6 z06 stays fairly high in resale is the changing conditions in the automobile market. There probably will not be a large displacement NA z06 ever again. Emission and Cafe requirements with the addition of high performance hybrids means the NA corvette is a dying breed. Add driver-less cars and probably a change in the way we will insure driver involved sports cars in the next decades, and I think we have the z06 being a premium car to own and enjoy on the weekends.
JR1
> dirthoon
02/07/2015 at 22:11 | 0 |
It saddens me that might be the last 7.0 liter NA engine we will probably ever see from Corvette.
Younginwithavette
> DrScientist
02/08/2015 at 00:27 | 0 |
C5's are already having these problems. There are a few modules that you can't get anymore. The EBCM and steering wheel position sensor are the two biggest. If the EBCM goes so does ABS.
DrScientist
> Younginwithavette
02/08/2015 at 00:38 | 0 |
didn't know this specifically about the c5s. thanks for the info. :)
as i think i mentioned in my original reply, as technology changes, and the rate of change increases, parts manufacturers will have less business incentive to keep old stock around and/or continue producing parts for older cars.
so these parts then become niche, read: expensive.
so... if the expensive parts happen to be on a seachange car for the industry, like say an f40, people will pay the money to keep that unique car driving.
if however, the expensive parts are from a car that was an advance over the prior iteration, but no true skyhook moment, and for which 50,000 examples were produced, then the likelihood that the "value" will be there decreases.
so i'll stick to my guns and say $10k, in 2015 dollars. for comparison, i'd say a 991 at the same time in the future will be about 16-18k in 2015 dollars, based mostly rarity and status.
Cap'n Jack Sparrow
> JR1
02/10/2015 at 11:21 | 0 |
I might be in the market for one of these! One side note: DO NOT BUY ONE THAT HAS ANY ENGINE MODS DONE TO IT!!!!!
Ok, TL;DR version is this engine was pushed to the limits for what it is, a high reving N/A big displacement motor. It's not really setup to take a lot more like the current base C7's motor is.