Depreciation of $10,000 over 18 mos. and 5,200 miles

dwhitt

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Bought my '02 new back in Dec '02 for $65,000 with 30 miles on it - just sold it for $55,000 after being for sale since Nov '03 - car has roughly 5,200 miles on it - they sure don't hold value like my two earlier Vipers but they are still great cars nonetheless - this should give folks that always ask on the Board a real world example of current values on '02's since I have spoken with so many prospective buyers and ended up at this price - a bit frustrating since the car was mint - I tried for a good bit more but the bottom line was that there were no able and/or willing buyers at higher pricing - I passed on numerous earlier offers at $55,000 and finally gave in accepting this as the apparent market price on such a car

May be back at some point when the next coupe comes out
 

joe117

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That's about 85% right? I wouldn't call that too bad for loss on a new car.
If you had bought it early in 2002 you would have had over 2 years with it.
How much drag racing did you do with it anyway?
 
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dwhitt

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I took it once to MIR at Budds Creek and my wife raced it there a second time.

Depreciation didn't seem too bad overall on the '02 but I drove my used '95 for 14,000 miles over about 12 months and sold it for only $1,000 less than I paid - that was unreal in terms of depreciation or lack thereof on a high end exotic
 
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dwhitt

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No, bought that car used in the summer of '98 for just $43k with 4,000 miles and sold it in the summer of '99 for $42k with 18,000 miles or so to adopt my kids from Russia.
 

PRVT JET

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The used car market is different, some people may disagree but yellow has it's own buyers. I don't understand why you would buy that car just for one year, short term lease would have been a better option. On the long term your going to see better return, look the GEN 1 cars nice ones bring good money.
 

Donzi

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Any NEW car will drop like that. Its not fair to compare
buying a new one VS buying a used one. Apples to oranges
 

PRVT JET

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I bought my car on dec of '01 for $68k, I would never sell it for $55k because it's graphite with silver stripes(only 60 made). You have to believe and hold, not settle.
 

GraphiteGTS

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I have an '02 listed in the classifieds. Though I'd like a new car, I'll hold her if I can't get near asking price.
 

01sapphireGTS

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Hope to see you back with your new coupe.

I always try to buy things 2-3 yrs old to avoid the huge first depreciation. If resale is your primary goal, (so that you may turn your cars often), you need to buy cars that are not "average" so that when it comes time to sell, everyone is looking for "your car".

I think I could sell my car now for more than I paid for it. But I could be wrong...
 

Sam 01 RT10

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I agree w/ Todd, buy 'em a year or two old. I bought my '01 last year w/ both tops, and only 4,800 miles for $52k. I've seen them on AutoTrader and Ebay still going for around $50k.
Hope to see you in another Viper soon!
:)
 

LW VIPER

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If I thought I could move from my 96 RT/10 to an 02 with 6500 miles, for $12,000 move up, I'd do it in a heart beat.
Someone got a good deal on your car, I think.

Hope you get another and come back soon.
 

Lee00blacksilverGTS

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1. Never buy new if you wish to avoid the biggest loss.
2. If you buy new NEVER sell after only one year, that is the biggest loss year, so buy used if you are only holding for one year.
3. Always hold until June/July.
 

BlueGTS

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If I thought I could move from my 96 RT/10 to an 02 with 6500 miles, for $12,000 move up, I'd do it in a heart beat.
Someone got a good deal on your car, I think.

I agree that someone got a killer deal. I would think a mint car with that many miles would sell for high 50's... But I guess not.

As for trading up for 12k. Unless your RT has a ton of mods I am not sure the market will bare 43k for it. But there is only one way to find out.
 

TomMiriViper

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You bought your NEW car for a NEW car price. Buy used next time and you won't take as big of a hit. Now the new owner won't take a big loss.
The car will maintain it's value for a long time now.
 
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