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Corvette tops in resale value amongst convertibles

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Chevrolet Corvette
Those with the means happily pay six-figure prices for cars with the Corvette's kind of track-ready performance. At about $53,000 new, the Corvette is a bargain for exotic car wanna-haves. There will be a big market of people looking to save even more by buying your used one.

The Corvette was also among the Overall Top 10.

Gallery: See the winners in Nine Categories.
October 5, 2005; Posted: 2:53 p.m. EDT (1853 GMT)

CNN Money Story
NEW YORK (CNN/Money) - When you're buying a new car, you don't want to think about unloading it even before you've gotten the first whiff of new-car smell.

But failing to think about resale value -- how much the car will likely be worth when it comes time to trade it in or sell it -- can mean thousands of dollars.

In fact, depreciation is the single biggest cost in the first five years of a car's life, far outpacing fuel and maintenance costs.

For a variety reasons some cars lose value much more quickly than others. To honor those cars with depreciation curves that look more like freeway off-ramps than roadside cliffs, Kelley Blue Book's Web site, KBB.com, is holding an awards ceremony Wednesday morning at the California International Auto Show in Anaheim.

While the company would not reveal the exact projected resale values for any of the cars, those receiving awards are expected to retain about half their value over five years. That's compared to an industry average depreciation of 65 percent over five years.

So if you purchase a Chevrolet Corvette, one of the winners that costs around $60,000, then in five years it will probably be worth about $30,000. The average $60,000 car, meanwhile, would be worth only about $21,000.

Awards are presented to 2006 model-year vehicles that have best projected resale value in each of nine vehicle categories. Awards are also presented to the top 10 vehicles in value retention overall and to the top brand overall (this year, a tie between BMW and Mini).
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I though Vettes always held their value pretty well....

[post="25086"]<{POST_SNAPBACK}>[/post]


they do... for a chevy.

Their resale aint half bad, but its not excellent or nuthin
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I dunno, the problem with these so-called "blue books," "black books" or whatever is that they are obsolete the day they are printed. The auctions move much quicker than that. The other aspect that doesn't sit well with me is how can these so-called experts ever know the actual original selling price of any given model? Those of us who deal in the real world realize that the "stellar" resale value of the imports is largely smoke and mirrors. Using an example that I know well, a brand new 2005 Cavalier was selling for $12,000 plus freight, taxes, etc. only a few months ago. The same 2005 Corolla, with air and automatic, was (reality) selling for $18,000 plus freight, taxes, etc. If you look at the actual wholesale prices for 2000 Cavalier (normal mileage) at this time, they are fetching about $4,000-4,500; the same equipped and mileaged Corolla will fetch about $7,500. ?????????????????????????????????????????????????????????????????????????????? So, you pay $6,000 more up front, pay more for insurance, pay more for maintenance (dealer trips to a Toyota dealer are quite the experience!) and then the car is only worth $3,000 more after 5 years? What about the cost of money? Oh, yeah, and in Ontario you pay 15% tax on that 6,000, resulting in another $900 out the window. I know this is but one example, but those of us who deal in reality get sick and tired of these fabrications and myths out there.
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I dunno, the problem with these so-called "blue books," "black books" or whatever is that they are obsolete the day they are printed.  The auctions move much quicker than that.
The other aspect that doesn't sit well with me is how can these so-called experts ever know the actual original selling price of any given model?
Those of us who deal in the real world realize that the "stellar" resale value of the imports is largely smoke and mirrors.
   
  Using an example that I know well, a brand new 2005 Cavalier was selling for $12,000 plus freight, taxes, etc. only a few months ago.  The same 2005 Corolla, with air and automatic, was (reality) selling for $18,000 plus freight, taxes, etc.
  If you look at the actual wholesale prices for 2000 Cavalier (normal mileage) at this time, they are fetching about $4,000-4,500; the same equipped and mileaged Corolla will fetch about $7,500.
  ??????????????????????????????????????????????????????????????????????????????

  So, you pay $6,000 more up front, pay more for insurance, pay more for maintenance (dealer trips to a Toyota dealer are quite the experience!) and then the car is only worth $3,000 more after 5 years?  What about the cost of money?  Oh, yeah, and in Ontario you pay 15% tax on that 6,000, resulting in another $900 out the window.

  I know this is but one example, but those of us who deal in reality get sick and tired of these fabrications and myths out there.

[post="25186"]<{POST_SNAPBACK}>[/post]


That's not a good example at all for the simple fact that the 2000 Corolla was a different generation and bodystyle than the 2005 Corolla. The 2000 and 2005 Cavaliers are more or less the same car. Whenever a new generation of a car introduced, the previous generation always goes down in value.
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Actually, no....in 2003 the Cavalier was given a major refresh. new engine new rear brakes new nose/fender treatment new steering wheel (?) suspension tweeks tail lights/rear bumper and ABS was dropped. So, it was a big change. But my point is, the numbers (in reality) apply to pretty much all the vehicles. Our company has a Toyota and GM dealer so I deal in reality. Camry, Impala...it works out pretty close. Of course, if you use the mythical "sticker price" then you get the sort of numbers that blue book, etc. are talking about. When is the last time you paid sticker?
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