Making room for the C6?

[fatherlarry]

For all you Z06 FRC/Hardtop owners, I'm just curious on how everyone here feels about moving over and making room for the new C6 Z06 in 2006. Will we be slowly fading out like the ZR1 and be only a select few who are dedicated to the Z06? Do you feel part of a cult with the Z06 like the ZR1 and L88 owners do? What do you feel about a site dedicated to only specialty Corvettes, or maybe just the Z series Vettes?

As far as the next generation Z06, from what I read, Dave Hill said that there would be a significant change in the 2006 Z06, where you would be able to really tell the difference between the C6 coupe and the Z06, not like with the C5 Z06 and coupe now, and like the C4's and ZR1 's.

According to the pics, the new C6, in my opinion is starting to resemble the Viper. There are some points on the C6 that have a flair of Viper styling. Especially the way it looks from the front. I think we all know where the Vette is headed and who is being challenged, and I feel GM is doing it slowly and keeping costs down that way. I feel the C6 Z06 will definitely give the Viper a run for its money in styling, horsepower and competition, and they'll make it much more affordable to us then the Viper would be, and of course generate more sales for themselves.

Last but not least, there have been rumors that the Z06 will stablilize in price the way the ZR1's did. For example, a '90-'91 ZR1 with around 6,000 miles in mint condition is being sold now between $34-$36K, and will not dip below that price. Naturally price will vary according to condition and mileage of car, but to buy a good clean ZR1, you be looking at $34,000 range and over, and it will increase in years to come. A lot of people that I've talked to say that the Z06 won't be far behind it in price, and because, there are only a little over 22,000 made, without knowing the production numbers yet for '04, it will be a natural choice for people who can't get a hold of a ZR1 anymore, or afford the new C6 Z. The ZR1, even though less were made, were a five yr run. The Z06 is only a four year run. Plus the Z06 is pretty comparable to the ZR1 in performance. Parts will also be much more available. So I do see the Z06 not dropping in price so quickly and maybe not dropping at all, but stabilizing in price earlier then the ZR1 did. And, if the C6 Z06 comes in at around $60 or $65K, people will turn more to the ZR1 and C5 Z06. This is just conjectures of course, and I was curious as to how all of you feel about it.

[fatherlarry]

I read this on another forum.

:smoke:

I agree with your statement, you are right on target. I wish others here would understand, that we're not trying to say that because we have a Z06 that we want to get the highest dollar, and we're not trying to compare it with the ZR1, but what we are trying to say is that we bought them in a market that was very soft. The ZR1 was sold in an inflated market. These Z06's should have been going for MSRP, but some were going for invoice, others were going for $5K under MSRP, plus rebates which GM never did for their flagship Corvettes. So naturally, when the market picks up, we have an advantage. We bought lower, so this Z06 will only stabilize or go higher.
Let's say you get into an accident with the car and the car is totaled. MSRP was $54K and you bought it for $46K, and now you totaled the car and the insurance company goes by the NADA retail book. You used the car for a year. Because you paid less than true market value, you won't lose. So, as the economy slowly picks up, which it is starting to do now, we will be in a better position when selling.

Years ago, back in the early '70's there were articles written in Corvette magazines and Corvette Quarterly that a Corvette gave you 20% a year on your dollar. Opposed to what the articles stated, the Corvette actually appreciated about 4% a year. Example: I bought a 1969 Corvette Sting Ray, 350/350, British Racing Green, air conditioning, 4 speed for $3,000 in 1971. I sold it in 1981 for $9,000, and big blocks were going for even more. That's about a 3% increase in price a year and more than half the price of what a new 1981 Corvette was going for. So for anyone here to say that a $55K Corvette will depreciate close to 50% in two years doesn't know the Corvette market, or is a wholesaler looking for prey. I was offered by a wholesaler $36K for my '02 Z06 just two weeks ago. He has been hounding me and calling my house twice a week to try to get me to sell the car to him. He tells me he likes low mileage, garage queens and that he does very well with them. If he makes a few thousand he's happy, because he does this in volume.

You may say the times were different back then, but it's all economics and we happen to have a car that is always in demand, more than other cars. In today's market, even a low end used car with over a 100,000 miles on it, will go for $5K-$7K. In 1980 there were over 40,000 coupes produced and sticker price was about $13,000. To buy one today you're talking about $20-$30K depending on condition and mileage, and if it's an L82 maybe more. A 1991 C4 coupe went for about $33,000, and a good clean one now will still cost you in the mid $20's, and look at how many C4's are flooding the market. And, even though they have depreciated, in 13 years, they didn't depreciate as much as some here claim the Z06 will in two years.

The Z06 is a very special car. It has newer technology, LS6 engine, went back to a chassis, tranny in the rear, completely new suspension and much more. I talk to people every day that wish they can get a Z06, because it's a two seater sports car with performance that keeps up with the exotics, and that's what Corvette is about and sets it apart from Mercedes, Lexus and BMW's.

Maybe people won't like the C6 as much and will want the C5 Z06 because of the styling of the fixed roof/hardtop, hidden headlights, interior style and the fact that it's a signature car, like the '63 Z06, '67 L88, '69 Big blocks, and ZR1.