I have a theory, C7 ZO6 v. C6ZR1

"Chuck 2(O=[][]=O)2" (pompei426)
03/28/2014 at 09:45 • Filed to: None

You can currently buy a brand-new, very well equipped, corvette for under $70k. I think we can all agree that the C7 looks better that the C6. Next year the Zo6 will come out an will be priced around $80-90K, I'm guessing. I don't know if figures have been released. So, why am I posting? Well I know OPPO likes NPoCP comparisons and, I would just like to point out that a brand-new 2013 ZR1 can still set you back a good bit over $100K. I found one !!!error: Indecipherable SUB-paragraph formatting!!! for $125K. So, my theory is, if you wanted a C6 ZR1, watch their prices plummet in the next two years. What do you think?

DISCUSSION (17)

themanwithsauce - has as many vehicles as job titles > Chuck 2(O=[][]=O)2
03/28/2014 at 09:47

I would argue the C7 Z06 will b a much more liveable car, and so the ZR1s will take a big hit in value right away. So if you want a 65-+ hp missile, then the C6 ZR1 will be a good buy

Chuck 2(O=[][]=O)2 > themanwithsauce - has as many vehicles as job titles
03/28/2014 at 09:52

That's what I'm thinking.

Party-vi > Chuck 2(O=[][]=O)2
03/28/2014 at 09:56

I don't think pricing well "plummet" on the most powerful Corvette ever produced. I think a 2009 will set you back around $80,000 depending on mileage and condition, and that's still a lot of money for a 5 year old car. A 2009 Z06 with similar mileage is worth half of what a ZR1 is asking at sale. If you're looking for a cheap ZR1 it'll be a while.

ihm96 > Chuck 2(O=[][]=O)2
03/28/2014 at 10:30

I actually like the C6 looks better, after seeing the new one in person

tifosi3317 > Chuck 2(O=[][]=O)2
03/28/2014 at 10:45

"I think we can all agree that the C7 looks better that the C6" I think you'd be wrong. While it's a strinking car it's not pretty. I still prefer the C6 as do a lot of current vette owners.

Textured Soy Protein > Chuck 2(O=[][]=O)2
03/28/2014 at 11:08

I don't think the C6 ZR1 is going to see a huge drop in used prices. Corvettes retain their value really well. Performance versions in particular, even if they've been superseded by a newer, faster one.

Also, I'm sure dealers will try marking up C7 Z06es by a good $10k or more above sticker when they first come out. So that should also keep C6 ZR1 prices from falling off a cliff too much.

Axial > Textured Soy Protein
03/28/2014 at 12:28

Heh, no they don't. Tell any C5 or C4 (including ZR-1 and Grand Sport) owner that or tell most C3 owners that and they'll laugh ironically, shortly before breaking out in tears. It would be simultaneously great and not-so-great if that were true.

As awesome as they are, Corvettes are mass-produced, inexpensive vehicles. They might (and actually do) hold very well in Europe, but in the States they are steeply discounted with age.

Axial > themanwithsauce - has as many vehicles as job titles
03/28/2014 at 12:38

I'm curious, what makes the C6 ZR1 less livable versus the C7 Z06?

themanwithsauce - has as many vehicles as job titles > Axial
03/28/2014 at 12:41

Probably worse build quality, lower quality interior, less grip, more power and torque, and no automatic option.

Axial > themanwithsauce - has as many vehicles as job titles
03/28/2014 at 12:49

Automatic is what I figured you were referencing, though some might argue lifestyle choice. I don't think grip is going to be any more of an issue in regular driving than it would with the Z06, the grip differences are more of a limit thing.

If anything, the fact that a lot of C6 ZR1s have been lowered is going to be the most limiting factor!

Textured Soy Protein > Axial
03/28/2014 at 13:25

Here's all of the C5 Z06es on Autotrader within a 300 mile radius of me. They range in asking price from $19,500 to $29,950.

The original sticker price of a C5 Z06 ranged from $48,055 in 2001 and $52,185 in 2004.

Residual values ranging from 41 to 57% after 10 to 13 years are pretty damn stellar for a "mass-produced, inexpensive vehicle."

Axial > Textured Soy Protein
03/28/2014 at 15:02

Here's a list of all the C5 Z06s for sale at any distance from me, period.

They go all the way down to $15,400. This is not holding value. I'm sure there are even some less expensive options on Craigslist. We also haven't even gotten into how much the more "garden-variety" Corvettes depreciate. We're talking about a vehicle whose production is in the tens of thousands per year on a UAW-run assembly line for a car that is built to perform at the expense of being "really nice", if necessary. It is not some hand-finished, form-is-as-important-as-function work of automotive "art".

I consider "holding value" to mean that it kinda stays within 70-75% of its price when new, and that's me being generous. A Ferrari usually holds its value. Even the Ferrari 360 often sells within that range. A Corvette? A Corvette does not hold its value. It has long intervals of rapid depreciation and it takes 40 years overall for them to come back up. C1s were cheap in the '60s, '70s, and the '80s. C2s were cheap in the '70s and the '80s. The ZR-1 is still cheap ( $13,500 gets you into a 1990 with extras ), despite being the car that basically rekindled the horsepower war and being the only production Corvette to ever feature a DOHC engine, but they are finally starting to come back up. Actually, you can still find C1s and C2s in good shape for family car money, which means they are only now breaking even ($3,500 in 1957 is just shy of $30,000 today, which is where a lot of C1s are priced at over on UsedCorvettesforSale or VetteHound).

The big earners are the '53, '58, '63, and Big Block cars. Chrome-bumper C3s as well, but I can get one of those for $20,000 locally if I'm so inclined.

Textured Soy Protein > Axial
03/28/2014 at 16:33

So basically we have different ideas of "holding value."

You're talking about cars having investment value. I'm thinking more in terms of depreciation on late-model, mass produced cars.

What I'm getting at is that compared to many other late-model, mass-produced cars, Corvettes depreciate a lot less.

But no, they're not an "investment" car.

Axial > Textured Soy Protein
03/28/2014 at 16:52

I was honestly only thinking about how much it costs to pick a used one up now versus how much it cost to pick one up, new. Aren't the two concepts you mentioned related anyway?

I suppose within a generation, the cars hold value pretty well, but they tend to plummet very fast whenever a major revision or new generation is introduced. The LT-engine'd C4s put the L98 cars through the floor, and the C5 itself put the C4 through the floor. More recently, in late 2012 you could find a 2008 C6 Z06 for $37,000. That is a spanking deal, and the vehicle is only 5 years old. 5 years, 505 horsepower 427, super-light aluminum frame, wide-body, manual, all but-fore-front modern... That's a lot of car and that's less then half of what it cost new; even less when you consider inflation.

Textured Soy Protein > Axial
03/28/2014 at 17:32

Oh yeah, totally agree with you that a used C6 Z06 is a huge bargain in the mid-30s. I'd say the same thing about a low-mileage C5 Z06 for around $18-20k, since it's still a bit quicker than an LS2 or LS3 C6.

It also amazes me how many Corvettes are garage queens. It's super easy to find a 10+ year old C5 Z06 with <50k miles. There are still plenty with <20k miles.

Axial > Textured Soy Protein
03/28/2014 at 18:04

That always amuses me because these cars are actually very docile in inclement weather unless you're running slicks. And, since they aren't an investment, I think it's silly to have one just to have one. Still, it means more great cars at super low prices for us later. Because of the nature of Corvette owners, it means that a greater number of deals that seem "too good to be true" actually are true.

Buy used - a Jalop's mantra.

texray > Chuck 2(O=[][]=O)2
01/09/2015 at 21:53

sorry but I totally disagree that a C7 is better looking than C6. You may be surprised how many dont like the look of the C7 but it is a corvette which they are all good!