Holy Sh*t!

I've got an '06 Enthusiast with about 15K miles/year (about 30K right now).

I just checked the KBB value on my car and I think the economy is starting to affect the used Z market (Sportscars are on of the first segments to get hit during a recession). My trade-in value 2 months ago was about $22k. It's dropped $6K in two months. Now it's $16K.

$16K! For a 2 year old car that sold for $30k new. That's 50% depreciation in 2 years. That's HUGE! My Hyundai Tiburon didn't depreciate that fast.

The retail value a dealer can charge for it is still $25K though. Although I doubt any are selling for that much. I think KBB just hasn't adjusted the retail values yet.

Private party value is only $20,500.


If you wanna check yours, go to KBB.com, click "used cars" and put in your info. Select "trade-in" value and "fair" condition (Even if yours looks brand new, dealers only give you "fair" condition money).

 

Good thing I bought the car because I love it, rather than for it's resale value.

 

I personally don't buy vehicles based on resale value (current or future). I see people crying on the Harley forums all the time because they can't buy a new bike and sell it for what they paid two years later. Vehicles (bike or cage) are not an investment. Best to buy what you want - enjoy it and not pay attention to the market.

 

^^ right on.

 

That’s terrible. What should we do?

 

I8acobra no offense but why the negative Zposts lately. You want out pretty bad huh. I love my Z and will keep it until it dies and will not trade it in but buy a new car. What are you looking at? Wanting to step into the German ring?

 

That sucks for you guys but for me its awesome because I will be buying one soon

 

meh got the Z to keep

 

KBB doesn't mean $hit. If you took care of a car and is asking a reasonable amount, a buyer who is looking for that type of vehicle will not have an issue paying the asking price. Obviously, I'm talking about private party to private party sale, not a dealer trade-in. Dealers will rape you on a trade-in, especially if they know you are desperately wanting a certain new vehicle. But in the current economic situation, the salesperson is also desperate to sell a new car so they'll bend over backwards nowadays to give you a good deal.

 

it only hurts if you plan to sell ur ride after 1 to 2 yrs of ownership since new. leasing might be a better option

 

can still sell it for more than I owe....so works for me.

I have found that edmunds.com has been more accurate in my area for car values.

but either way, private party is barely less than I paid 1yr and 10k miles ago.

 

I'm sure if you compared it with an 06' Tiburon for that time period, I'm sure the Tiburon would depreciate as much as the Z. Another thing to think about is that the Z is a 2 seater and is not a high demanding practical car. The Z has a specific consumer/customer...and it's those people that don't need rear seats, and not really concerned about fuel consumption.

 

i dont plan on selling on mine

 

When I bought my Z the sales person was insistant that I should get an automatic because the resale value is a lot higher (he claimed that because there are a lot of girls who buy used Z's and most of them will only buy it in automatic) I told him I was buying the car to have fun driving it, not to turn around and resell it.

I love my car, I don't care if the resale value was $0. I plan on driving this thing into the ground

 

I think if you are worried about resale value you may want to avoid the whole depreciating asset class known as cars and just start walking.

Or maybe buy one of those Bentley's. I hear they hold their value extremely well!!


Sorry just had too

 

That sucks, that's why you don't buy new.

 

'Cause my Z is a f*ckin' POS. 30K on it and it needs another motor and a new tranny. Neither of which are my fault. If the car was breaking because of how I drive it, I'd understand, but it's not. I want out of this car so bad I can taste it. I used to get a rush just looking at it parked out front. I used to love the feel and sound of driving it. Now, just looking at it pisses me off.

I don't necessarily want into the "German ring". I really wanted a new 370Z for a while because my animosity is towards this car, not Z's in general. However, upon further contemplation, I think it's time for a 4-door car. I actually bought an Altima SE-R and owned it for 24 hours before bringing it back and swapping it for the Z. I've been eying the German stuff just because even though I want a 4-door, I want RWD and at least 400HP.

Oh, and I don't buy cars based on their resale value either (hello... my last new car was a Hyundai Tiburon). The point of the post was how much the worsening economy is affecting the sportscar market. If the 370Z comes out $5K higher than the 350Z and the economy continues to worsen... This is part of what killed the Supra/Z32 TT. It's like Deja Vu, all over again.



KBB doesn't set values. They report values based on actual transactions as recorded by State's DMVs. In other words, the KBB value is what cars are selling for, not what KBB thinks they should sell for. This is why they update their values 4 times a year.

 

KBB isnt always right.

 

I feel your pain. i am trying to sell my '06. no luck i have offered at 19500. only 14k miles on her. no takers **** sucks

 

Neither is the weather man, but they're both pretty close most of the time.