Car value shock!!

[roadpilot]

With the $8K you save on an EB, you might be able to buy a real engine for it!

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[horned-toad]

With the $8K you save on an EB, you might be able to buy a real engine for it!

or at least a FI fuel rail, tune, larger injectors and a bigger turbo.
Oh wait, per VH all I have to do is chisel away and port my factory turbo for 10% power gains!

 

[Rocket Man]

8K off? No way. These guys say thats impossible.

 

[keithwalton]

As others have said it's just the car market returning to normality, gone are the days where if you could buy a car you could use it for a couple of years and sell it for what you paid for it or more ...
It's gone back to as soon as a car is 'used' it's lost a chunk of value that it'll never get back.
Also nothing depreciates a used car quite as much as a new model.
Since the S650's went on sale in the UK prices for Mach 1's and Bullit's have dropped by £10k on average in a couple of weeks.
In 2022, 2 year old bullit's were listed over msrp. Towards the end of 23 they were back at msrp. and now they're 25% off msrp

 

[dusman59]

I bet many addons are presented when closing the deal. Some charge doc fees at 1k or more. AZX plans limit to $100. Dealers have to make things up one way or another. No one stays in business for long losing money. Early dealer sales closer to cost might happen just to get allocations filled with hopes of future allocations.

 

[Rocket Man]

Not losing money. Ever heard of holdback? Thousands of dollars. And bonus's for volume. If you believe there is only 4-5k profit on a 60K car, I have a bridge for sale for you. At 9k off on a 60k car they still make a few bucks. Also, I never buy any car with any add ons. I will pay ttl+a doc fee.
That may be as much as 600-800 bucks. Thats it.

 

[horned-toad]

At 9k off on a 60k car they still make a few bucks

they grab back "profit margin" with these $800-1100 "doc" fees. A quick rule of thumb for domestics is nobody is selling at a loss at 9% below MSRP. If you're a big dealer and between the 'advertising funds' and this and that from the manufacturer you're getting pretty close to landed cost at 12-15% below MSRP. On pickup trucks the inflection point seems to be closer to 20.

So Ourisman's 15% off they were running very close to a "loss" even with the $900 doc fee since salaries, flats, rent, taxes, utilities eats up a good chunk. What they were willing to suffer as "loses" or VERY thin margins on Mustang was more than made up by fatter deals on other vehicles.

They've since backed off on the discount to 10-12% which gives them a bit more in the positive column on the deals.

 

[Rocket Man]

exactly right. I will take 12% off when ready to buy. That's still about 7500 on a 61k+ car.

 

[Karguy]

Completely false.

How so ?

 

[Polo08816]

During COVID prices for used cars were insane. These days it's returning to normal. With specialty cars like Mustangs, Vettes and so forth, the private sale will appeal to people who appreciate the car rather than cookie cutter CarMax, Carvana, etc.

https://www.cioccacorvette.com/new-inventory/index.htm

Ciocca Corvette is about to have over 100 C8s in inventory.

 

[Polo08816]

Its a mass produced car..... we are just now (in last few years) seeing Fox Bodies appreciate in value some 40 years later...

In between then and now- I mean look what 10 year old Mustangs are selling for.... high teens/ low 20s- you can pick up 15-20 year old Mustangs and they are under 10K

Even C8 prices are falling off a cliff....

Just wait until they do the midlife cycle refresh - prices will drop again

This.

https://www.cioccacorvette.com/new-inventory/index.htm

 

[roadpilot]

How so ?

Math.

If your claim was true, my "used" Dark Horse with 210 miles on it would only be worth ~$51K right now.

Have you looked at prices for a used DH with only 200-some miles on it lately? $65-66-67K.

 

[Rocket Man]

The Dark Horse is a "specialty" car. Very low production. Like a Z06, it will always be in more demand and thus retain more of it's value. A GT on the other hand, is just another used car. It's used value will plummet like most other used cars.

 

[robvas]

You can get a new DH under MSRP now...not good for anyone trying to sell one they just bought

 

[roadpilot]

The Dark Horse is a "specialty" car. Very low production. Like a Z06, it will always be in more demand and thus retain more of it's value. A GT on the other hand, is just another used car. It's used value will plummet like most other used cars.

Show me 25% drop with 200 miles on a 2024 GT. I'll wait here.

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